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, both brokers have their distinct approaches to commissions and fees, each earning a 4-star rating. With MultiBank, traders have a choice of three account types: Standard, Pro, and ECN. The Standard account, suitable for beginners due to its $50 minimum deposit, carries higher spreads, making it less appealing for those with more experience. The Pro account requires a higher $1,000 deposit but offers lower spreads than the Standard option. The ECN account, ideal for advanced traders, boasts the lowest spreads, requiring a $10,000 deposit and a $3 round-trip commission per trade. However, be mindful of MultiBank's non-trading fee, which charges $60 monthly for inactive accounts over 90 days.
FXOpen, while not providing average spread data, manages to hold its own in the market, also earning a 4-star rating for its commissions and fees. In terms of ranking, MultiBank is placed higher at #38 compared to FXOpen's #44 out of 63 brokers reviewed by ForexBrokers.com. This suggests a slight edge for MultiBank in user preference for commissions and fee structures but doesn’t undermine the value FXOpen brings to traders looking for competitive options.
| 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.
When it comes to the range of available investments, MultiBank stands out with an impressive offering of 1,042 tradeable symbols compared to FXOpen's 87. Both brokers provide options for forex trading as a CFD or spot contract; however, MultiBank offers a greater selection of 40 forex pairs while FXOpen provides 25. A noteworthy feature of MultiBank is its ability to facilitate the purchase of actual cryptocurrency, unlike FXOpen, which offers only cryptocurrency derivatives. Moreover, both brokers lack the option for clients to engage in direct purchases of exchange-traded securities on U.S. or international markets, limiting investments to CFDs.
Both MultiBank and FXOpen support copy trading, allowing clients to mimic successful trading strategies. Despite these similarities, MultiBank's broader selection gives it an edge in the eyes of ForexBrokers.com, earning it a 4-star rating for Range of Investments and placing it at #37 out of 63 brokers. In contrast, FXOpen holds a 3-star rating and ranks at #62, reflecting a more modest investment offering. For traders seeking a wider array of investment options and real cryptocurrency transactions, MultiBank proves to be a more attractive choice.
| 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.
When comparing the trading platforms and tools offered by MultiBank and FXOpen, both brokers provide a free virtual demo account, facilitating simulated trading for users. However, MultiBank stands out by offering its own in-house developed trading platform alongside the well-known MetaTrader 4 and MetaTrader 5 platforms, while FXOpen solely relies on these popular platforms. Both brokers support trading via browser-based platforms and Windows desktop downloads, making them accessible across various devices. Additionally, they both feature copy trading capabilities, although FXOpen also supports ZuluTrade, which is absent in MultiBank’s offerings.
In terms of charting tools, MultiBank offers slightly more drawing tools at 17 compared to FXOpen’s 15, but both allow direct trading from stock charts. The watch lists for both brokers are similarly featured, offering seven columns for users to customize their field preferences. Despite having the same four-star rating for their platforms and tools, MultiBank ranks higher at 39th out of 63 brokers according to ForexBrokers.com, compared to FXOpen's rank at 53rd. Both brokers cater well to their clients' diverse trading needs, ensuring flexibility and comprehensive features for traders at all levels.
| 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.
When comparing the mobile trading apps of MultiBank and FXOpen, both offer comprehensive platforms for iPhone and Android users. Each app provides vital features like stock and forex price alerts, a selection of 30 technical studies for charting, and the capability to draw trendlines on charts. Both apps also allow users to view different time frames on their charts, like daily, weekly, or intraday views, offering flexibility in analysis. However, a notable difference between the two is the ability to automatically save chart drawings, a feature MultiBank supports, while FXOpen does not. Despite these differences, both platforms enable the creation of watchlists with real-time quotes, even though they lack watchlist symbol syncing with online accounts.
From a user satisfaction standpoint, both MultiBank and FXOpen receive a 4-star rating for their mobile trading apps. In rankings provided by ForexBrokers.com, however, MultiBank clinches a higher position at 41st place compared to FXOpen's 54th, out of a total of 63 brokers. This ranking may reflect subtle differences in user experience, like the convenience of auto-saving chart drawings on MultiBank's app. Ultimately, while both brokers offer competitive mobile trading solutions, these small variations could influence which platform better suits a trader’s individual needs.
| 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 it comes to market research offerings, MultiBank and FXOpen provide varied experiences for traders. FXOpen stands out by offering daily market commentary, ensuring that its users have a regular update on market conditions. Both brokers supply forex news from top-tier sources like Bloomberg and Reuters, offering traders high-quality information to make informed decisions. Neither broker, however, has integrated technical analysis tools from companies like Autochartist or Trading Central, nor do they feature sentiment-based trading tools, TipRanks market research, or Acuity Trading tools. This means users seeking these specific resources might need to look elsewhere.
Both MultiBank and FXOpen offer an economic calendar, helping traders stay informed about global market-moving events. In terms of research quality, MultiBank edges out FXOpen with a rating of 3.5 stars compared to FXOpen's 3 stars. Additionally, MultiBank is ranked #49 for research by ForexBrokers.com, while FXOpen is at #63, indicating a broader range of research tools and resources available to MultiBank users. Ultimately, for traders prioritizing daily commentary, FXOpen may be the preferred choice, but for a slightly higher-rated research experience, MultiBank could be the better option.
| 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 and FXOpen offer different strengths in their offerings. MultiBank provides a solid start with over ten educational materials focused on forex and CFDs, including videos and articles. Beginners will find an array of videos aimed specifically at their level, which is a helpful feature for those starting out. However, MultiBank doesn't offer live or recorded webinars, or a comprehensive glossary of trading terms. This might leave some holes for learners looking to deepen their understanding through interactive means or reference material. Rated 3.5 stars for education, MultiBank stands at #50 out of 63 brokers in the education category according to ForexBrokers.com.
On the other hand, FXOpen falls behind slightly in terms of beginner-specific educational content as it does not provide a comparable collection of articles or videos. Yet, it does feature a helpful investor dictionary with definitions of over 50 investing terms, which can be a valuable resource for clarifying terminology. Like MultiBank, FXOpen does not offer monthly webinars or archives of past sessions, and it similarly lacks advanced educational videos. With a 3-star rating for education, FXOpen ranks #58 out of 63 brokers in this category, indicating room for improvement in catering to educational needs.
| 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 63 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 |
| Range of Investments |
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| Research |
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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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