MultiBank vs FXOpen 2023

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, MultiBank offers better pricing overall for traders.

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. Both MultiBank and FXOpen hold 3 global Tier-1 licenses. MultiBank holds 1 global Tier-2 licenses, while FXOpen holds 0. In our analysis of 23 international regulators across 50 brokers, MultiBank (84) earned a higher Trust Score than FXOpen (80).

To compare the trading platforms of both MultiBank and FXOpen, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, MultiBank offers a better experience. With research, MultiBank offers superior market research. Finally, we found MultiBank to provide better mobile trading apps.

For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Both MultiBank and FXOpen offer MetaTrader 4 (MT4).MultiBank and FXOpen both offer copy trading.

MultiBank provides traders 41 currency pairs (e.g., EUR/USD) compared to FXOpen's 25 available pairs. Forex pairs aside, MultiBank offers traders access to 1042 CFDs while FXOpen has 87 available CFDs, a difference of 955.

MultiBank Group is not publicly traded, does not operate a bank, and is authorised by three Tier-1 regulators (Highly Trusted), one Tier-2 regulator (Trusted), zero Tier-3 regulators (Average Risk), and three Tier-4 regulators (High Risk). MultiBank Group is authorised by the following Tier-1 regulators: the Australian Securities & Investment Commission (ASIC), Monetary Authority of Singapore (MAS, and the European Union via MiFID.

FXOpen is not a publicly traded company, does not operate a bank, and is authorised by three Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk). FXOpen is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Financial Conduct Authority (FCA), and the European Union via MiFID.

MultiBank Group, in operation since 2005, is home to numerous global brands and regulated in jurisdictions all over the world. A multi-asset broker, MultiBank offers forex and CFDs through the MetaTrader and cTrader platform suites (though not all markets are readily available) as well as underlying crypto assets via its regulated crypto exchange. On the negative side, the broker’s market research offering is unimpressive and educational content is entirely absent; MultiBank’s poor performance in these important categories drags down its Overall rating.

FXOpen is a long standing MetaTrader broker with a narrow offering and few benefits beyond a standard MetaTrader experience coupled with social-trading platforms ZuluTrade and Myfxbook.