Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs MultiBank, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Charles Schwab, established in 1971, stands as a well-recognized online broker, not only due to its longevity but also due to its extensive regulatory backing. The company is publicly traded and operates as a bank, which adds to its credibility among investors. With 5 Tier-1 licenses, Charles Schwab is equipped with top-tier regulatory compliance, contributing to its impeccable Trust Score of 99 according to ForexBrokers.com. This score places Charles Schwab in the highly trusted category, reflecting both its reputation and commitment to client security.
MultiBank, founded in 2005, offers a contrasting profile. Although it has garnered its own level of trust with a ForexBrokers.com Trust Score of 84, it is not publicly traded and does not operate as a bank. MultiBank holds 3 Tier-1 licenses and 1 Tier-2 license, demonstrating a solid regulatory standing but slightly less robust than Charles Schwab's. Falling into the trusted category, MultiBank represents a viable option for investors seeking a regulated broker with an established, albeit shorter, history in the industry.
| Feature |
Charles Schwab
|
MultiBank
|
|---|---|---|
| Year Founded | 1971 | 2005 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 3 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 3 |
Charles Schwab offers traders access to two primary accounts for forex trading: Schwab One and Schwab Global. Schwab One allows traders to utilize the thinkorswim platform with no minimum deposit, although trades settle in U.S. dollars. The Schwab Global account gives access to twelve international markets in their local currencies, with conversion fees ranging from 0.2% to 1% based on account balance size. Notably, Schwab does not charge commissions for forex trading, with costs mainly coming from the bid/ask spread. However, the average spread on pairs like EUR/USD can be on the high side, at 1.35 pips, and overnight carry charges are included within their platform. Schwab receives a 4-star rating and ranks #24 among 63 brokers for commissions and fees.
MultiBank provides three account types for forex and CFD trading: Standard, Pro, and ECN. The Standard account, with a $50 minimum deposit, has high spreads and is recommended only for beginners. The Pro account offers lower spreads with a $1,000 minimum deposit, while the ECN account provides the lowest spreads along with a $3 round-trip commission, requiring a $10,000 deposit. Additionally, MultiBank charges a $60 monthly inactivity fee after 90 days of dormancy. MultiBank also receives a 4-star rating but ranks slightly lower at #38 out of 63 brokers in the commissions and fees category.
| Feature |
Charles Schwab
|
MultiBank
|
|---|---|---|
| Minimum Deposit | $0 | $50 |
| Average Spread EUR/USD - Standard | 1.35 | N/A |
| All-in Cost EUR/USD - Active | 1.35 | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing Charles Schwab and MultiBank, investors will find notable differences in the range of available investments. Charles Schwab impressively offers around 40,000 tradeable symbols, significantly overshadowing MultiBank's 1,042. This extensive selection includes access to 73 tradeable forex pairs, while MultiBank provides 40. Schwab clients can invest in exchange-traded securities on both U.S. and international exchanges, offering a more diverse investment experience. On the other hand, MultiBank does not provide access to exchange-traded securities on these exchanges but caters to those interested in spot forex trading, similar to Schwab.
While Charles Schwab does not support copy trading or the purchase of actual cryptocurrency, it does offer cryptocurrency derivatives. In contrast, MultiBank provides both the ability to buy actual cryptocurrency and to engage in copy trading. Based on ForexBrokers.com rankings, Charles Schwab is rated higher for its range of investments, securing a 5-star rating and ranking 5th out of 63 brokers. MultiBank, while still commendable, holds a 4-star rating and ranks 37th in the same category, reflecting its more limited investment options.
| Feature |
Charles Schwab
|
MultiBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 1042 |
| Forex Pairs (Total) | 73 | 40 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | No | Yes |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
Charles Schwab and MultiBank offer traders a variety of options when it comes to their trading platforms and tools. Both brokers provide a simulated trading experience with free virtual demo accounts, allowing users to practice without real-world consequences. Additionally, each broker has developed its proprietary platform and offers both Windows-based desktop and web-based platforms for flexible trading. However, Charles Schwab falls short in providing copy trading and access to popular trading platforms like MetaTrader 4 and MetaTrader 5, where MultiBank excels by offering both. Charles Schwab also uniquely allows for an extensive number of fields in watch lists, boasting 580 columns in comparison to MultiBank's seven. Both brokers support trading directly from stock charts, but Charles Schwab offers more drawing tools for charting, giving users broader visualization possibilities.
When it comes to their ratings, Charles Schwab outranks MultiBank in trading platforms and tools with a perfect 5-star rating, a testament to its comprehensive offerings. Meanwhile, MultiBank earns a respectable 4 stars. According to ForexBrokers.com, Charles Schwab is recognized as the fifth-best out of 63 brokers in this category, positioning itself ahead of MultiBank, which is ranked 39th. While MultiBank provides distinct advantages in specific tools like copy trading and MetaTrader access, Charles Schwab's extensive feature set and high industry ranking make it a formidable choice for traders prioritizing diverse trading tools and customizations.
| Feature |
Charles Schwab
|
MultiBank
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 374 | 38 |
| Charting - Drawing Tools (Total) | 24 | 17 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 580 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Charles Schwab and MultiBank offer mobile trading apps for iPhone and Android, catering to users who trade on the go. They each provide features like stock and forex price alerts, multiple time frame views, and trendline drawing capabilities. While both apps allow users to create watchlists with real-time quotes, Charles Schwab sets itself apart by offering watchlist symbol syncing between the mobile app and the online account, providing a seamless user experience. In terms of technical studies for charting, Charles Schwab significantly outpaces MultiBank with 374 options compared to MultiBank’s 30.
When it comes to user satisfaction, Charles Schwab scores higher with a 5-star rating on mobile trading apps, while MultiBank holds a respectable 4-star rating. According to ForexBrokers.com, Charles Schwab ranks as the 6th best out of 63 brokers in the mobile trading apps category, whereas MultiBank ranks 41st. These rankings indicate a higher level of user satisfaction and functionality offered by Charles Schwab’s mobile app, making it a preferred choice for many traders.
| Feature |
Charles Schwab
|
MultiBank
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 374 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing Charles Schwab and MultiBank for market research offerings, some clear distinctions emerge. Charles Schwab stands out by providing daily market commentary, which is not available from MultiBank. Both brokers supply forex news from reputable sources like Bloomberg and Reuters, ensuring investors have access to high-quality information. However, neither platform offers technical analysis or fundamental research tools from well-known companies like Autochartist or Trading Central. Additionally, neither offers a sentiment-based trading tool or market research from TipRanks. While both brokers feature an economic calendar covering global news events, Charles Schwab is rated 5 stars for research, significantly higher than MultiBank's 3.5 stars.
Charles Schwab also benefits from a strong position in the broker research rankings, placed at #4 out of 63 brokers according to ForexBrokers.com, while MultiBank lags considerably behind at #49. This discrepancy highlights Schwab's more comprehensive market research capabilities, making it a suitable choice for traders seeking in-depth market insights. In contrast, while MultiBank offers some useful features, it lacks the comprehensive scope and high rankings that define Schwab's offerings in the research sector. This makes Schwab a more appealing option for individuals focused on making well-informed trading decisions.
| Feature |
Charles Schwab
|
MultiBank
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, Charles Schwab stands out compared to MultiBank. Both brokers offer a variety of materials on forex and CFDs, including articles, videos, and archived webinars. However, Charles Schwab surpasses MultiBank by providing monthly online educational webinars and a searchable archive of recorded sessions, which MultiBank does not offer. Additionally, Schwab caters to both beginners and advanced traders with over ten educational videos for each category, while MultiBank focuses primarily on beginners. For those seeking an in-depth understanding, Charles Schwab includes an investor dictionary with more than 50 investing terms, a feature that MultiBank lacks.
In terms of quality ratings from ForexBrokers.com, Charles Schwab receives an excellent score of five stars for its education offerings, ranking sixth among 63 brokers. In contrast, MultiBank garners a modest 3.5 stars and is positioned at number fifty. This indicates that Charles Schwab provides a richer and more comprehensive educational experience, making it a preferable choice for those looking to strengthen their trading knowledge, especially at the beginner level. The superior resources offered by Charles Schwab make it an attractive option for newcomers who are eager to explore trading.
| Feature |
Charles Schwab
|
MultiBank
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Charles Schwab is better than MultiBank. Charles Schwab finished with an overall rank of #6, while MultiBank finished with an overall rank of #40.
Charles Schwab is a highly trusted financial institution and multi-asset broker catering to U.S.-based and international forex traders. Schwab's award-winning thinkorswim platform offers over 70 tradeable currency pairs alongside impressive tools, research, and education. That said, the broker’s forex offering is still largely limited to what is available on thinkorswim.
| Feature |
Charles Schwab
|
MultiBank
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 84 |
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While Charles Schwab does not provide the option to purchase actual delivered cryptocurrency, it offers cryptocurrency derivatives, just like MultiBank, which uniquely enables the direct acquisition of delivered cryptocurrencies alongside derivative options.
Both Charles Schwab and MultiBank offer ACH or SEPA transfers and bank wires for account funding, but while MultiBank extends additional options including Skrill and Visa/Mastercard, neither provides PayPal as a transaction method.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | Charles Schwab | MultiBank | |
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| Trust Score | 99 | 84 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | MultiBank Review |
| Broker Screenshots | Charles Schwab | MultiBank | |
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| Regulation | Charles Schwab | MultiBank | |
|---|---|---|---|
| Trust Score | 99 | 84 | |
| Year Founded | 1971 | 2005 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 5 | 3 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 3 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | MultiBank | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | No | ||
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | ||
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | Charles Schwab | MultiBank | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | ||
| South Africa (FSCA Authorised) | No | ||
| UAE (DFSA/Central Bank Authorised) | Yes | ||
| India (SEBI Authorised) | No | ||
| Jordan (JSC Authorised) |
| Investments | Charles Schwab | MultiBank | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 1042 | |
| Forex Pairs (Total) | 73 | 40 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | No | Yes | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | Charles Schwab | MultiBank | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.35 | N/A | |
| All-in Cost EUR/USD - Active | 1.35 | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | MultiBank | |
|---|---|---|---|
| Minimum Deposit | $0 | $50 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | Charles Schwab | MultiBank | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Charles Schwab | MultiBank | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 580 | 7 | |
| Charting - Indicators / Studies (Total) | 374 | 38 | |
| Charting - Drawing Tools (Total) | 24 | 17 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Charles Schwab | MultiBank | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 374 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Charles Schwab | MultiBank | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | MultiBank | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | Charles Schwab | MultiBank | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | Charles Schwab Review | MultiBank Review |
| Overall | Charles Schwab | MultiBank | |
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| Trust Score | 99 | 84 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | MultiBank Review |
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