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 | 1 | 3 |
When evaluating the commissions and fees of FP Markets and MultiBank, traders will notice distinct differences that could influence their choice of broker. FP Markets is recognized for its highly competitive pricing, especially on its commission-based ECN accounts, making it a favored choice among cost-conscious traders worldwide. The broker's standout pricing is reflected in its accolades, having garnered a 5-star rating and a commendable 6th place ranking out of 63 brokers in the Commissions and Fees category by ForexBrokers.com. With features like Direct Market Access (DMA) and a wide depth of book on its share CFD offering via Iress, FP Markets is particularly beneficial for traders using high-balance accounts, despite the higher costs associated with its Iress ViewPoint accounts for active traders.
Conversely, MultiBank provides a range of account options tailored to different trading levels, including Standard, Pro, and ECN accounts. Each account structure offers varying minimum deposits and spread rates. The ECN account, requiring a $10,000 minimum deposit, stands out for its lower spreads and a modest $3 commission per trade, appealing to more seasoned traders. MultiBank earns a respectable 4-star rating and is ranked 38th in the Commissions and Fees category by ForexBrokers.com. However, the broker's Standard account, while accessible with just a $50 initial deposit, tends to offer higher spreads, making it less attractive unless you're just starting out. Additionally, MultiBank charges a $60 monthly fee if your account is inactive for 90 days, which is essential to consider for infrequent traders.
| Feature |
FP Markets
|
MultiBank
|
|---|---|---|
| Minimum Deposit | $100 AUD | $50 |
| Average Spread EUR/USD - Standard | 1.2 | N/A |
| All-in Cost EUR/USD - Active | 0.7 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | Yes |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
FP Markets and MultiBank both provide online trading services with a focus on forex trading through CFDs or spot contracts. FP Markets stands out with an impressive array of 10,000 tradeable symbols, including 71 forex pairs, offering traders a wide range of options. On the other hand, MultiBank offers 1,042 tradeable symbols with 40 forex pairs. While neither broker provides exchange-traded securities on U.S. or international exchanges, they both support copy trading, which can benefit those looking to mirror the strategies of more experienced traders.
For cryptocurrency enthusiasts, FP Markets offers cryptocurrency derivatives but does not provide the option to buy actual cryptocurrencies. However, MultiBank provides access to both cryptocurrency derivatives and actual cryptocurrencies. In terms of range of investments, FP Markets enjoys a higher score of 4.5 out of 5 stars and ranks #18 out of 63 brokers on ForexBrokers.com, outperforming MultiBank, which scores 4 stars and ranks #37. This comparison highlights FP Markets' broader range of investment options and higher industry ranking, making it a compelling choice for diverse trading needs.
| Feature |
FP Markets
|
MultiBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 1042 |
| Forex Pairs (Total) | 71 | 40 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | 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.
When comparing FP Markets and MultiBank in terms of trading platforms and tools, both brokers offer a comprehensive suite of options for traders. Each provides simulated trading through free virtual demo accounts, allowing users to practice their strategies without risk. They both offer proprietary trading platforms and support for popular platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Additionally, traders at FP Markets and MultiBank can take advantage of Windows-based desktop downloads, web-based platforms, and the ability to trade directly from stock charts. Both brokers also support copy trading, providing users with opportunities to follow and mimic successful traders. However, neither FP Markets nor MultiBank offers DupliTrade or ZuluTrade integration.
For charting tools, FP Markets and MultiBank offer 17 drawing tools, enabling traders to perform detailed technical analysis. Watch lists at both brokers include seven columns, allowing for a customizable view of market data. In terms of overall performance, FP Markets and MultiBank are rated four stars out of five for their trading platforms and tools. Despite their similar offerings, FP Markets holds a higher rank, coming in at #23 out of 63 brokers, while MultiBank is ranked at #39 according to ForexBrokers.com. This slight difference in ranking may be a consideration for traders seeking optimal platform performance and features.
| Feature |
FP Markets
|
MultiBank
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 38 |
| Charting - Drawing Tools (Total) | 17 | 17 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
FP Markets and MultiBank both provide mobile trading apps that are accessible on iPhone and Android devices. Users can receive stock or forex price alerts and have the capability to draw trendlines on charts with both apps. If you're interested in diverse time frame views for your charts or want to ensure your drawn elements are saved automatically, both brokers have you covered. Each app also allows for the creation of watchlists with real-time quotes, ensuring traders can keep track of crucial market movements. However, both FP Markets and MultiBank lack the feature for syncing watchlists across devices and online accounts, which might be a drawback for those who frequently switch between platforms.
When considering technical studies, FP Markets utilizes MetaTrader's default range, whereas MultiBank offers 30 studies. In terms of ratings, both applications boast a solid four-star user rating, reflecting a steady level of satisfaction among traders. However, when it comes to the overall ranking for mobile trading apps, FP Markets claims a higher position at #18, compared to MultiBank’s #41, as per ForexBrokers.com. This suggests that FP Markets might offer a more favorable mobile trading experience overall, despite both apps providing a host of similar features.
| Feature |
FP Markets
|
MultiBank
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 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 it comes to market research, FP Markets outshines MultiBank by providing daily market commentary, which MultiBank lacks. Both brokers offer forex news from leading sources like Bloomberg and Reuters. However, FP Markets has an upper hand with additional technical analysis tools from companies like Autochartist and Trading Central. These features, coupled with sentiment-based trading tools that show a ratio of long or short positions, give FP Markets a comprehensive edge over MultiBank, which doesn't offer these advantages.
While neither broker provides market research from TipRanks or tools from Acuity Trading, both brokers offer an economic calendar to track global news events. FP Markets earns a slightly higher research rating of 4 stars compared to MultiBank's 3.5 stars. Additionally, FP Markets is ranked 25th in the research category by ForexBrokers.com, significantly ahead of MultiBank's 49th position. This makes FP Markets a more well-rounded choice for traders interested in thorough research tools and insights.
| Feature |
FP Markets
|
MultiBank
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing FP Markets and MultiBank for educational resources tailored for beginners, FP Markets clearly offers a more extensive suite of materials. Both brokers provide a healthy selection of educational pieces focused on forex and CFDs, which include articles, videos, and webinars. However, FP Markets distinguishes itself by hosting regular online client webinars at least once a month and provides access to an archive of past recorded webinars. MultiBank, conversely, lacks both a monthly live webinar schedule and a searchable archive, which may limit beginners seeking continuous learning opportunities. Additionally, FP Markets offers a comprehensive investor dictionary to aid novice traders, consisting of over 50 investing terms, a feature that MultiBank currently does not provide.
For beginners seeking video content, both FP Markets and MultiBank supply over ten educational videos focused on beginner trading topics, ensuring a solid introduction to the trading world. However, when it comes to advanced trading topics, FP Markets offers more material, presenting over ten advanced videos, while MultiBank falls short on this front. The richer educational offerings of FP Markets contribute to its higher educational rating of 4 stars compared to MultiBank's 3.5 stars. Positioned at #23 out of 63 brokers in the Education category by ForexBrokers.com, FP Markets ranks significantly higher than MultiBank, which holds the #50 spot, underscoring FP Markets' stronger commitment to education.
| Feature |
FP Markets
|
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 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
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MultiBank
|
|---|---|---|
| Overall Rating |
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| Trust Score | 89 | 84 |
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FP Markets allows you to trade cryptocurrency derivatives but does not offer the option to buy actual delivered cryptocurrency, whereas MultiBank offers both the ability to purchase actual cryptocurrency and trade cryptocurrency derivatives.
When comparing online brokers FP Markets and MultiBank for account funding options, FP Markets supports PayPal, Skrill, Visa/Mastercard, and bank wires but lacks ACH or SEPA transfers, whereas MultiBank accommodates ACH or SEPA transfers, Skrill, Visa/Mastercard, and bank wires, but does not offer PayPal.
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 | 1 | 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) | No | No | |
| 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) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FP Markets | MultiBank | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 1042 | |
| Forex Pairs (Total) | 71 | 40 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | 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 | FP Markets | MultiBank | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | N/A | |
| All-in Cost EUR/USD - Active | 0.7 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | FP Markets | MultiBank | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | $50 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | Yes |
| Trading Platforms | FP Markets | MultiBank | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FP Markets | MultiBank | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 38 | |
| Charting - Drawing Tools (Total) | 17 | 17 | |
| 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 Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 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 | FP Markets | MultiBank | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | FP Markets | 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 | FP Markets | 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 | 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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