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.
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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 and MultiBank take different approaches to commissions and fees. Schwab charges no commissions on forex; you pay the bid–ask spread, with an average EUR/USD spread of 1.35 pips in October 2024 (on the higher side of the market). Schwab has no minimum deposit for its primary brokerage accounts. It earns 4 out of 5 stars for commissions and fees and ranks #26 out of 63 brokers at ForexBrokers.com. MultiBank offers three account tiers: Standard and Pro are spread-only, while the ECN account adds a small $3 round-trip commission in exchange for the tightest spreads. Minimum deposits are $50 (Standard), $1,000 (Pro), and $10,000 (ECN). MultiBank also earns 4 out of 5 stars and ranks #39 out of 63.
At Schwab, forex trading runs through the thinkorswim platform via a Schwab One account. All forex trades settle in U.S. dollars, the smallest trade size is 10,000 units, and at 20:1 leverage that implies about $500 in minimum margin. If you want to place orders directly in a foreign currency from a Schwab One account, you’ll need to call the broker. For trading in local currencies online, the Schwab Global account offers access to 12 international markets; currency conversion fees apply (about 0.2%–1%, depending on your balance). thinkorswim also displays overnight carry charges in a built-in calculator so you can estimate holding costs.
With MultiBank, the trade-off is simple: lower minimums mean wider spreads, while higher balances unlock lower spreads. The Standard account is the cheapest to start but has the highest spreads; the Pro account lowers spreads with a $1,000 minimum. The ECN account aims for the tightest pricing, adding a $3 round-trip commission and requiring $10,000 to open. Note that MultiBank charges a $60 monthly inactivity fee if you go 90 days without trading.
| Feature |
Charles Schwab
|
MultiBank
|
|---|---|---|
| Minimum Deposit | $0 | $50 |
| Average spread (EUR/USD) - Standard account | 1.32 | N/A |
| All-in Cost EUR/USD - Active | 1.32 | N/A |
| Non-wire bank transfer | Yes | Yes |
| PayPal (Deposit/Withdraw) | No | |
| Skrill (Deposit/Withdraw) | No | |
| Bank Wire (Deposit/Withdraw) | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Charles Schwab offers a far wider selection of investments than MultiBank. Schwab lists about 40,000 tradeable symbols and lets you buy exchange-traded securities on both U.S. and international markets, while MultiBank has about 1,042 symbols and does not provide direct access to U.S. or overseas stock exchanges. Reflecting that breadth, ForexBrokers.com rates Schwab 5/5 for Range of Investments and ranks it #5 of 63 brokers, compared with MultiBank’s 4/5 and #38 ranking.
Both brokers support forex trading as CFDs or spot, and both offer crypto CFDs. Schwab provides 73 tradeable forex pairs versus 40 at MultiBank. However, MultiBank supports copy trading and lets you buy actual cryptocurrency, which Schwab does not. Choose Schwab if you want the widest menu of traditional securities, or MultiBank if copy trading and direct crypto access are priorities.
| Feature |
Charles Schwab
|
MultiBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 1042 |
| Forex Pairs (Total) | 73 | 40 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | No | Yes |
| Cryptocurrency (Underlying) | No | Yes |
| Cryptocurrency (CFDs) | 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.
Comparing Charles Schwab and MultiBank on trading platforms and tools: both brokers offer free paper trading (virtual demo accounts), in-house proprietary platforms, Windows desktop software, and web-based platforms. Each also lets you place trades directly from stock charts. The key differences are that MultiBank supports copy trading and offers MetaTrader 4 and MetaTrader 5, while Charles Schwab does not support copy trading or MetaTrader. Details on the number of technical indicators and watchlist fields weren’t specified.
In independent ratings from ForexBrokers.com, Charles Schwab scores 5 out of 5 stars and ranks #5 out of 63 brokers for Trading Platforms and Tools. MultiBank earns 4 out of 5 stars and ranks #40. If you want MetaTrader and copy trading, MultiBank has the advantage; if you prefer a highly rated, proprietary platform experience, Charles Schwab stands out.
| Feature |
Charles Schwab
|
MultiBank
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 374 | 38 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Charles Schwab and MultiBank both offer iPhone and Android mobile trading apps with stock and forex price alerts. Each app lets you draw trendlines on charts and automatically saves your drawings. A key difference is watchlists: Schwab syncs watchlists between the mobile app and your online account so changes carry over, while MultiBank does not sync watchlists.
For charting tools, Schwab provides 374 technical studies in its mobile app compared with 30 at MultiBank, giving active traders far more indicators to work with. ForexBrokers.com rates Schwab’s mobile trading apps 5 stars and ranks it #6 out of 63 brokers, while MultiBank earns 4 stars and ranks #42. If you want deeper charting and seamless watchlist syncing, Schwab stands out; if you prefer a simpler setup and don’t need syncing, MultiBank can still get the job done.
| Feature |
Charles Schwab
|
MultiBank
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 374 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing market research at Charles Schwab and MultiBank, Schwab holds an edge thanks to its daily market commentary, which can help traders and investors stay on top of trends. Both brokers deliver forex news from top-tier sources like Bloomberg, Reuters, or Dow Jones, and each provides an economic calendar to track upcoming events. Schwab’s research is rated 5 out of 5 stars and ranked #5 out of 63 brokers by ForexBrokers.com, while MultiBank earns 3.5 out of 5 stars and ranks #50.
As for specialized tools, neither broker offers Autochartist, Trading Central, sentiment-based positioning tools, or TipRanks. Given this, the biggest difference is Schwab’s steady stream of daily commentary layered on top of quality news and an economic calendar, which helps explain its higher research rating and ranking compared with MultiBank.
| Feature |
Charles Schwab
|
MultiBank
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central | No | No |
| Client sentiment data | No | No |
| TipRanks | No | No |
| Acuity Trading | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginner traders comparing Charles Schwab vs. MultiBank on education, Schwab is the stronger pick. Schwab runs online client webinars at least monthly, offers 10+ beginner trading videos, and also provides 10+ advanced videos for when you’re ready to level up. It earns a 5-star Education rating and ranks #6 out of 63 brokers with ForexBrokers.com. MultiBank, by contrast, doesn’t run monthly educational webinars. It does offer 10+ beginner videos but lacks a library of 10+ advanced videos; its Education rating is 3.5 stars and it ranks #50 out of 63.
If your main goal is forex or CFD education, the details provided here don’t confirm whether either broker supplies 10 or more forex/CFD-focused pieces. Before deciding, check each broker’s learning center for forex and CFD articles, videos, and archived webinars to see which one fits your learning style as a beginner.
| Feature |
Charles Schwab
|
MultiBank
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | 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
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MultiBank
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 84 |
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In a Charles Schwab vs MultiBank crypto comparison, MultiBank allows buying actual (delivered) cryptocurrency and cryptocurrency CFDs, while Charles Schwab does not offer buying real crypto but does allow buying cryptocurrency CFDs.
In a Charles Schwab vs MultiBank comparison, both brokers support ACH/SEPA for deposits and withdrawals; Schwab also supports bank wires but not PayPal or Skrill, while MultiBank’s availability of PayPal, Skrill, Visa/Mastercard, and bank wires—and Schwab’s Visa/Mastercard option—are not specified in the provided data.
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, FSRA, or SCA 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. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | No | Yes | |
| Cryptocurrency (Underlying) | No | Yes | |
| Cryptocurrency (CFDs) | 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 account | 1.32 | N/A | |
| All-in Cost EUR/USD - Active | 1.32 | N/A | |
| Inactivity Fee | No | Yes | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | No | Yes |
| Funding | Charles Schwab | MultiBank | |
|---|---|---|---|
| Minimum Deposit | $0 | $50 | |
| PayPal (Deposit/Withdraw) | No | ||
| Skrill (Deposit/Withdraw) | No | ||
| Bank Wire (Deposit/Withdraw) | Yes | ||
| Non-wire bank transfer | Yes | Yes |
| Trading Platforms | Charles Schwab | MultiBank | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No |
| Trading Tools | Charles Schwab | MultiBank | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 374 | 38 | |
| 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 Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 374 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Charles Schwab | MultiBank | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central | No | No | |
| TipRanks | No | No | |
| Client sentiment data | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | MultiBank | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | Charles Schwab | MultiBank | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| 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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