Written by ForexBrokers.com
In this head to head comparison of MultiBank vs FXOpen, 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.
MultiBank, established in 2005, and FXOpen, founded in 2003, are both online brokers that cater to traders looking to navigate the financial markets. Neither company is publicly traded or operates as a bank, which is common in the brokerage industry. When it comes to trust and regulatory oversight, MultiBank holds three Tier-1 licenses and one Tier-2 license, reflecting a firm commitment to regulatory compliance. In contrast, FXOpen has been granted two Tier-1 licenses, but no Tier-2 licenses.
In terms of trustworthiness, MultiBank scores an 84 on the ForexBrokers.com Trust Score scale, placing it in the "trusted" category. FXOpen, with a score of 76, falls into the "average risk" category. These scores give potential traders an idea of the relative security and regulatory standing each broker offers, allowing them to make informed decisions based on their risk preferences and trust expectations.
| Feature |
MultiBank
|
FXOpen
|
|---|---|---|
| Year Founded | 2005 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 0 |
When comparing MultiBank and FXOpen in terms of commissions and fees, both brokers hold a 4-star rating. MultiBank offers three account types: Standard, Pro, and ECN. While the Standard account requires only a $50 minimum deposit, it comes with higher spreads, making it less appealing to most traders. The Pro account, requiring a $1,000 deposit, offers lower spreads. For those seeking the most competitive spreads, the ECN account is optimal, demanding a $10,000 deposit and charging a reasonable $3 commission per trade. It's important to note that MultiBank imposes a $60 monthly inactivity fee after 90 days with no trading activity.
In contrast, FXOpen does not provide specific average spread data, making direct cost comparisons a bit challenging. Despite this, both brokers maintain a commendable 4-star rating in the industry. However, MultiBank slightly outranks FXOpen in the Commissions and Fees category, holding the 38th position out of 62 brokers, while FXOpen occupies the 45th position.
When deciding between these brokers, consider the structure of account offerings and potential fees, especially if you're concerned about inactivity charges. Ultimately, the choice depends on your trading style, budget, and preference for detailed fee transparency.
| Feature |
MultiBank
|
FXOpen
|
|---|---|---|
| Minimum Deposit | $50 | $100 |
| Average Spread EUR/USD - Standard | N/A | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | 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.
MultiBank and FXOpen both provide options for forex trading through CFDs and spot contracts, but they differ significantly in their range of tradeable symbols. MultiBank offers an impressive 1042 tradeable symbols, including 40 forex pairs, whereas FXOpen offers a modest 87 symbols with 25 forex pairs. Neither broker supports trading of exchange-traded securities on U.S. or international platforms, which means you can't buy shares like Apple or Vodafone directly.
Both brokers support copy trading, allowing users to mirror the trades of seasoned investors. When it comes to cryptocurrency, MultiBank lets you buy actual cryptocurrencies besides offering cryptocurrency derivatives, unlike FXOpen, which only provides access to cryptocurrency derivatives. This broader investment offering earns MultiBank a 4-star rating for range of investments, compared to FXOpen's 3 stars. According to ForexBrokers.com, MultiBank ranks 37th out of 62 brokers for their range of investments, outperforming FXOpen, which stands at 61st.
| Feature |
MultiBank
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1042 | 87 |
| Forex Pairs (Total) | 40 | 25 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | Yes | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers |
Dive deeper: Best Copy Trading Platforms.
MultiBank and FXOpen both offer compelling features for traders, with each providing a free virtual demo account to allow users to practice trading skills in a simulated environment. While both brokers support popular trading platforms like MetaTrader 4 and MetaTrader 5, MultiBank offers an edge with its proprietary platform developed in-house, something FXOpen does not offer. Both brokers provide a Windows-based desktop download platform and a web-based trading interface, ensuring traders have access via their preferred devices. Unique to FXOpen, however, is the inclusion of ZuluTrade for copy trading, while both brokers offer standard copy trading options.
When it comes to technical charting tools, MultiBank slightly surpasses FXOpen with 17 drawing tools compared to FXOpen's 15. Both brokers allow traders to execute trades directly from stock charts and offer similar features for watch lists with seven customizable columns each. Rated at four stars for their trading platforms and tools, MultiBank is ranked higher by ForexBrokers.com at #39, whereas FXOpen stands at #53 out of 62 brokers. This suggests that while they offer comparable features, MultiBank may have a slight advantage in specific platform and tool offerings.
| Feature |
MultiBank
|
FXOpen
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| 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 | Yes |
| Charting - Indicators / Studies (Total) | 38 | 30 |
| Charting - Drawing Tools (Total) | 17 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
MultiBank and FXOpen both offer mobile trading apps compatible with iPhone and Android devices, equipped with stock or forex price alerts, and the ability to draw trendlines on charts. They each provide 30 technical studies for charting, enable the viewing of multiple time frames, and allow the creation of watchlists with real-time quotes. However, neither app supports watchlist symbol syncing with clients' online accounts, meaning any changes must be manually updated across platforms.
While both apps score four out of five stars for mobile trading capabilities, there are some differences in functionality. Notably, MultiBank’s app stands out with its ability to auto-save drawings on charts—a feature FXOpen lacks. Additionally, when ranked by ForexBrokers.com among 62 brokers, MultiBank holds the 41st position, while FXOpen is ranked at 54. These distinctions might be a deciding factor for traders who prioritize seamless charting and broader platform recognition.
| Feature |
MultiBank
|
FXOpen
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing MultiBank and FXOpen, each offers unique features to enhance your trading experience. MultiBank provides forex news from reputable sources such as Bloomberg and Reuters, and also offers an economic calendar to keep traders informed about upcoming global news events. However, it lacks daily market commentary and additional research tools from providers like Autochartist and Trading Central. In terms of research quality, MultiBank holds a rating of 3.5 stars and ranks 49th out of 62 brokers analyzed by ForexBrokers.com.
On the other hand, FXOpen stands out by providing daily market commentary, adding value for those who seek regular insights. Like MultiBank, it also ensures access to top-tier forex news sources and an economic calendar. However, FXOpen similarly lacks support from additional external research tools and does not offer sentiment-based trading features. FXOpen is rated slightly lower in research with 3 stars and is ranked 62nd among 62 brokers. Both platforms offer fundamental resources, but MultiBank edges ahead in the overall research offering based on this comparison.
| Feature |
MultiBank
|
FXOpen
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| 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 | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, MultiBank offers a wider range than FXOpen. MultiBank provides a solid selection of educational content, including more than ten pieces dedicated to forex and CFDs, as well as a series of beginner-focused trading videos. This rich array of resources supports new traders in learning the basics and gaining confidence in their trading skills. In contrast, FXOpen falls short in this area, lacking the minimum educational materials on forex and CFDs, and also missing beginner-specific video content.
Both brokers do not offer live educational webinars or archives of previous webinars, which might limit the opportunity for interactive learning experiences. However, FXOpen does provide an investor dictionary with over 50 investing terms, beneficial for those looking to expand their trading vocabulary. In terms of ratings, MultiBank edges slightly ahead with a 3.5-star rating compared to FXOpen’s 3 stars. In the ForexBrokers.com rankings, MultiBank stands at #50 while FXOpen is positioned at #58. Overall, MultiBank appears to be a more suitable choice for beginners seeking a comprehensive educational foundation.
| Feature |
MultiBank
|
FXOpen
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | No | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | No | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that MultiBank is better than FXOpen. MultiBank finished with an overall rank of #40, while FXOpen finished with an overall rank of #54.
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.
| Feature |
MultiBank
|
FXOpen
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 76 |
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MultiBank allows users to purchase actual (delivered) cryptocurrency in addition to cryptocurrency derivatives, while FXOpen only provides the option to trade in cryptocurrency derivatives and does not offer the capability to buy real cryptocurrencies.
In comparing online brokers MultiBank and FXOpen, MultiBank offers both ACH or SEPA transfers and Skrill options for depositing or withdrawing account funds, while both brokers provide options for Skrill, Visa or Mastercard, and bank wires, but neither supports PayPal transactions.
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 | MultiBank | FXOpen | |
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| Trust Score | 84 | 76 | |
| Winner | check_circle | ||
| Review | MultiBank Review |
| Broker Screenshots | MultiBank | FXOpen | |
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| Regulation | MultiBank | FXOpen | |
|---|---|---|---|
| Trust Score | 84 | 76 | |
| Year Founded | 2005 | 2003 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 0 |
| Tier-1 Licenses (Highly Trusted) | MultiBank | FXOpen | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | No | Yes | |
| 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) | MultiBank | FXOpen | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | MultiBank | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1042 | 87 | |
| Forex Pairs (Total) | 40 | 25 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | Yes | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers |
| Cost | MultiBank | FXOpen | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | MultiBank | FXOpen | |
|---|---|---|---|
| Minimum Deposit | $50 | $100 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | MultiBank | FXOpen | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| 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 | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | MultiBank | FXOpen | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 38 | 30 | |
| Charting - Drawing Tools (Total) | 17 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | MultiBank | FXOpen | |
|---|---|---|---|
| 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 | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | MultiBank | FXOpen | |
|---|---|---|---|
| Daily Market Commentary | No | Yes | |
| 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 | MultiBank | FXOpen | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | No | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | No | Yes |
| Major Forex Pairs | MultiBank | FXOpen | |
|---|---|---|---|
| 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 | MultiBank Review |
| Overall | MultiBank | FXOpen | |
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| Trust Score | 84 | 76 | |
| Winner | check_circle | ||
| Review | MultiBank Review |
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