Written by ForexBrokers.com
In this head to head comparison of FP Markets 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.
FP Markets and MultiBank, both founded in 2005, are well-known online brokers not publicly listed as stock exchange companies nor recognized as banks. When examining their trustworthiness, FP Markets secures an edge with a Trust Score of 89, placing it in the 'trusted' category according to ForexBrokers.com. In contrast, MultiBank holds a Trust Score of 84, also in the 'trusted' bracket but slightly lower. This level of trust is complemented by FP Markets' possession of two Tier-1 licenses, while MultiBank holds three, indicating they prioritize top-level regulatory standards.
Further assessing regulatory credentials, both FP Markets and MultiBank each maintain one Tier-2 license, supporting their standing in the trusted category. These licensing details reflect their commitment to adhering to respected financial regulations, offering a similar degree of security for traders while their respective Trust Scores and licensing numbers provide a nuanced decision point for potential clients evaluating their options.
| Feature |
FP Markets
|
MultiBank
|
|---|---|---|
| Year Founded | 2005 | 2005 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 3 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 3 |
FP Markets and MultiBank both compete on pricing, but FP Markets stands out for overall value on commission-based accounts. FP Markets earns 5/5 stars and ranks #6 of 63 brokers for Commissions & Fees (Best in Class, 2024), while MultiBank scores 4/5 stars and ranks #39 of 63. Each broker’s lowest costs are found on their ECN accounts, with higher spreads on their Standard-style accounts.
FP Markets delivers tight pricing across MetaTrader and cTrader. Its Raw ECN account averaged 0.1 pips on EUR/USD as of October 2023 (about 0.8 pips all-in after a $6 round-turn commission per standard lot), while the Standard account averaged 1.1 pips. For share CFDs, FP Markets’ Iress suite offers DMA with full depth-of-book; however, the Iress ViewPoint tiers (Standard AUD 1,000; Platinum AUD 25,000; Premier AUD 50,000) can add platform and data fees unless you qualify for Premier or generate at least AUD 150 in monthly commissions. The lower-cost Iress Investor plan waives monthly fees but limits streaming data and charting.
MultiBank offers three account types: Standard (minimum $50, higher spreads), Pro (minimum $1,000, lower spreads), and ECN (minimum $10,000) with its best pricing and a low $3 round-trip commission per trade. Note the non-trading cost: an inactivity fee of $60 per month after 90 days without activity. In short, FP Markets provides award-winning, low all-in costs on its Raw ECN account (5/5 stars, #6/63), while MultiBank’s ECN lowers the per-trade commission (4/5 stars, #39/63) but requires a much higher minimum deposit—and its Standard account is comparatively pricier.
| Feature |
FP Markets
|
MultiBank
|
|---|---|---|
| Minimum Deposit | $100 AUD | $50 |
| Average spread (EUR/USD) - Standard account | 1.2 | N/A |
| All-in Cost EUR/USD - Active | 0.7 | N/A |
| Non-wire bank transfer | No | Yes |
| PayPal (Deposit/Withdraw) | Yes | |
| Skrill (Deposit/Withdraw) | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes |
Dive deeper: Best Low Spread Forex Brokers.
FP Markets offers a wider range of investments than MultiBank, with 10,000 tradeable symbols versus 1,042 and 71 forex pairs compared with 40. Both brokers support forex trading (CFD or spot), copy trading, and crypto CFDs, and neither provides direct access to exchange-traded U.S. or international shares. A key difference: MultiBank lets you buy actual (delivered) cryptocurrency, while FP Markets does not. Based on ForexBrokers.com’s Range of Investments scores, FP Markets earns 4.5 stars and ranks #19 out of 63 brokers, while MultiBank earns 4 stars and ranks #38.
If you want the largest selection of markets and forex pairs for diversification, FP Markets is the stronger pick. If owning real crypto matters to you alongside CFD trading, MultiBank stands out. Both brokers also support copy trading, making it easier to follow experienced traders while you focus on the instruments that fit your goals.
| Feature |
FP Markets
|
MultiBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 1042 |
| Forex Pairs (Total) | 71 | 40 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | No | No |
| Copy Trading | Yes | 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.
FP Markets vs. MultiBank for trading platforms and tools: both brokers provide free demo (paper) accounts, offer proprietary platforms alongside MetaTrader 4 (MT4) and MetaTrader 5 (MT5), and support Windows desktop downloads as well as web-based platforms. Each also includes copy trading and lets you place orders directly from charts, making it simple to go from analysis to execution.
In third-party evaluations, both earn 4 out of 5 stars for Trading Platforms and Tools, but FP Markets ranks higher (#23 of 63) than MultiBank (#40 of 63) on ForexBrokers.com. Both deliver charting and watchlist features; the exact indicator options and watchlist fields can vary by the specific platform you use.
| Feature |
FP Markets
|
MultiBank
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| Charting - Indicators / Studies (Total) | 30 | 38 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
FP Markets and MultiBank both offer mobile trading apps for iPhone and Android, and each supports price alerts. Neither broker syncs watchlists between mobile and the web, so changes you make in one place won’t appear in the other. While both apps earned 4 out of 5 stars, FP Markets ranks higher for Mobile Trading Apps on ForexBrokers.com (#18 out of 63) compared with MultiBank (#42), which may matter if overall app quality and reputation are important to you.
For charting, FP Markets uses the MetaTrader default set of indicators, while MultiBank lists 30 built-in indicators. Both apps let you draw trendlines on charts and will automatically save your drawings, making it easy to pick up where you left off. If you prefer MetaTrader’s familiar toolkit and a higher category ranking, FP Markets is appealing. If you want a clear count of 30 indicators and similar chart-drawing features, MultiBank is also a solid pick.
| Feature |
FP Markets
|
MultiBank
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | No |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
FP Markets beats MultiBank for in-platform market research. FP Markets provides daily market commentary, real-time forex news from well-known sources like Bloomberg and Reuters (which MultiBank also offers), and an economic calendar (also available at MultiBank). Where FP Markets pulls ahead is in extra research tools: it includes Autochartist, Trading Central’s analytics, and a sentiment tool that shows the ratio of long versus short positions. MultiBank does not offer these three tools. Neither broker includes TipRanks.
Independent ratings from ForexBrokers.com reflect this gap: FP Markets earns 4 stars and ranks #25 out of 63 brokers for Research, while MultiBank scores 3.5 stars and ranks #50. If you want daily commentary and built-in analysis to help spot trade ideas, FP Markets is the stronger pick. If you mainly need news headlines and a standard economic calendar, MultiBank covers the basics.
| Feature |
FP Markets
|
MultiBank
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central | Yes | No |
| Client sentiment data | Yes | No |
| TipRanks | No | No |
| Acuity Trading | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
FP Markets vs MultiBank: For beginner traders learning forex and CFDs, both brokers provide at least 10 beginner-friendly videos that explain core topics. FP Markets also runs at least one live educational webinar each month, while MultiBank does not. In addition, FP Markets offers 10+ advanced videos for when you’re ready to move beyond the basics; MultiBank lacks a comparable advanced video set.
These differences show up in independent ratings: FP Markets earns 4 stars for Education and ranks #23 out of 63 brokers at ForexBrokers.com, compared with MultiBank at 3.5 stars and #50. If you want live sessions and materials you can grow into, FP Markets is the stronger choice; if you only need starter videos, either broker can work.
| Feature |
FP Markets
|
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 FP Markets is better than MultiBank. FP Markets finished with an overall rank of #19, while MultiBank finished with an overall rank of #40.
FP Markets shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader platform. The Iress platform suite offers well over 9,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option.
| Feature |
FP Markets
|
MultiBank
|
|---|---|---|
| Overall Rating |
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| Trust Score | 89 | 84 |
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While FP Markets does not let you buy actual delivered cryptocurrency and only offers crypto trading via CFDs, MultiBank supports buying real delivered cryptocurrencies and, like FP Markets, also provides cryptocurrency CFDs.
FP Markets vs MultiBank: for deposits and withdrawals, MultiBank supports ACH/SEPA transfers (not offered by FP Markets), FP Markets supports PayPal, Skrill, and bank wires, while Visa/Mastercard availability is not specified for either broker and MultiBank’s support for PayPal, Skrill, and bank wires is not specified here.
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 | FP Markets | MultiBank | |
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| Trust Score | 89 | 84 | |
| Winner | check_circle | ||
| Review | FP Markets Review | MultiBank Review |
| Broker Screenshots | FP Markets | MultiBank | |
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| Regulation | FP Markets | MultiBank | |
|---|---|---|---|
| Trust Score | 89 | 84 | |
| Year Founded | 2005 | 2005 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 3 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 3 |
| Tier-1 Licenses (Highly Trusted) | FP Markets | MultiBank | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | Yes | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | No | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | FP Markets | MultiBank | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | FP Markets | MultiBank | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 1042 | |
| Forex Pairs (Total) | 71 | 40 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | No | No | |
| Copy Trading | Yes | 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 | FP Markets | MultiBank | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.2 | N/A | |
| All-in Cost EUR/USD - Active | 0.7 | N/A | |
| Inactivity Fee | No | Yes | |
| Order execution: Agency | No | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | FP Markets | MultiBank | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | $50 | |
| PayPal (Deposit/Withdraw) | Yes | ||
| Skrill (Deposit/Withdraw) | Yes | ||
| Bank Wire (Deposit/Withdraw) | Yes | ||
| Non-wire bank transfer | No | Yes |
| Trading Platforms | FP Markets | MultiBank | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | No |
| Trading Tools | FP Markets | MultiBank | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 30 | 38 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FP Markets | MultiBank | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | No | No | |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | FP Markets | MultiBank | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central | Yes | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | FP Markets | MultiBank | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | FP Markets | MultiBank | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | FP Markets Review | MultiBank Review |
| Overall | FP Markets | MultiBank | |
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| Trust Score | 89 | 84 | |
| Winner | check_circle | ||
| Review | FP Markets Review | MultiBank Review |
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