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MultiBank vs FXOpen 2023

ForexBrokers.com

Written by ForexBrokers.com

August 29, 2023

Is MultiBank better than FXOpen? In our analysis of 23 international regulators across 62 of the best forex brokers, MultiBank Group is considered Trusted, with an overall Trust Score of 84 out of 99. FXOpen is considered Trusted, with an overall Trust Score of 80 out of 99. Learn more about Trust Score.

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Compare

0 of 5
Overall Rating MultiBank FXOpen
Overall Rating info 4/5 Stars 3.5/5 Stars
Commissions & Fees 4/5 Stars 4/5 Stars
Offering of Investments 4/5 Stars 3/5 Stars
Platform & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 3.5/5 Stars 3/5 Stars
Education 3.5/5 Stars 3/5 Stars
Trust Score info 84 80
Winner check_circle
Review MultiBank Review
Broker Screenshots MultiBank FXOpen
Trading Platforms Gallery (click to expand) info
Mobile Trading Gallery (click to expand) info
Research Gallery (click to expand) info
Education Gallery (click to expand) info
Regulation MultiBank FXOpen
Trust Score info 84 80
Year Founded info 2005 2003
Publicly Traded (Listed) info No No
Bank info No No
European Union Authorised (MiFID) info Yes Yes info
Tier-1 Licenses info 3 3
Tier-2 Licenses info 1 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 3 0
Tier-1 Licenses (Highly Trusted) MultiBank FXOpen
Australia (ASIC Authorised) info Yes Yes
Canada (CIRO Authorised) info No No
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info Yes No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info No Yes
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No No
European Union Authorised (MiFID) info Yes Yes info
Tier-2 Licenses (Trusted) MultiBank FXOpen
Kenya (CMA Authorised) info No No
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No No
UAE (DFSA/Central Bank Authorised) info Yes No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info No No
Investments MultiBank FXOpen
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 1042 87
Forex Pairs (Total) info 41 25
U.S. Stock Trading (Non CFD) info No No
Int'l Stock Trading (Non CFD) info No No
Social Trading / Copy Trading info Yes Yes
Cryptocurrency (Physical) info Yes No
Cryptocurrency (Derivative) info Yes Yes
Disclaimers
Cost MultiBank FXOpen
Average Spread EUR/USD - Standard info N/A N/A info
All-in Cost EUR/USD - Active info N/A N/A info
Active Trader or VIP Discounts info No Yes
Inactivity Fee info Yes Yes
Execution: Agency Broker info No Yes
Execution: Market Maker info Yes Yes
Funding MultiBank FXOpen
Minimum Deposit info $50 $100
PayPal (Deposit/Withdraw) info No No
Skrill (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
Trading Platforms MultiBank FXOpen
Proprietary Platform info No No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info Yes Yes
cTrader info Yes No
DupliTrade info No No
ZuluTrade info No Yes
Trading Tools MultiBank FXOpen
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes Yes
Watchlists - Total Fields info 7 7
Charting - Indicators / Studies (Total) info 38 30
Charting - Drawing Tools (Total) info 17 15
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading MultiBank FXOpen
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes Yes
Mobile Watchlist info Yes Yes
Watchlist Syncing info No No
Mobile Charting - Indicators / Studies info 30 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info Yes No
Forex Calendar info Yes Yes
Research MultiBank FXOpen
Daily Market Commentary info No Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No No
Trading Central (Recognia) info No No
Social Sentiment - Currency Pairs info No No
Economic Calendar info Yes Yes
Education MultiBank FXOpen
Education (Forex or CFDs) info No No
Client Webinars info No No
Client Webinars (Archived) info No No
Videos - Beginner Trading Videos info No No
Videos - Advanced Trading Videos info No No
Investor Dictionary (Glossary) info No Yes
Major Forex Pairs MultiBank FXOpen
GBP/USD info Yes Yes
USD/JPY info Yes Yes
EUR/USD info Yes Yes
USD/CHF info Yes Yes
USD/CAD info Yes Yes
NZD/USD info Yes Yes
AUD/USD info Yes Yes
Review MultiBank Review
Overall MultiBank FXOpen
Overall Rating info 4/5 Stars 3.5/5 Stars
Commissions & Fees 4/5 Stars 4/5 Stars
Offering of Investments 4/5 Stars 3/5 Stars
Platform & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 3.5/5 Stars 3/5 Stars
Education 3.5/5 Stars 3/5 Stars
Trust Score info 84 80
Winner check_circle
Review MultiBank Review
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MultiBank vs FXOpen Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 forex and CFD brokerages to find the best forex broker. Let's compare MultiBank vs FXOpen.

Does MultiBank or FXOpen offer lower pricing?

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.

Is MultiBank or FXOpen safer for forex and CFDs trading?

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).

Which trading platform is better: MultiBank or FXOpen?

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.

What about MetaTrader and copy trading?

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.

How many forex pairs and CFDs are available to trade?

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.

Can I trust MultiBank?

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.

Can I trust FXOpen?

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.

Is MultiBank good?

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.

Is FXOpen good?

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.

Overall winner: MultiBank

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announcementPlease 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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