Written by ForexBrokers.com
In this head to head comparison of HFM 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.
When considering online brokers, HFM and MultiBank are two well-known names, each with its own strengths in regulatory compliance. Founded in 2010, HFM holds 2 Tier-1 licenses and 3 Tier-2 licenses, securing a trust score of 86 out of 99 from ForexBrokers.com. This suggests that HFM is trusted, though not the highest tier of trust, according to the rating criteria. Despite not being publicly traded or a bank, HFM demonstrates a strong commitment to client security through its regulatory standing.
On the other hand, MultiBank, established in 2005, also features prominently on the regulatory front. It boasts 3 Tier-1 licenses, further reinforcing its regulatory stature, and has a trust score of 84. Like HFM, it is neither publicly listed nor operates as a bank. Despite having fewer Tier-2 licenses—just 1 compared to HFM's 3—MultiBank's additional Tier-1 license positions it as slightly more secure in terms of high-level regulatory approvals. Both brokers offer trusted options for traders, albeit with slightly different regulatory frameworks.
| Feature |
HFM
|
MultiBank
|
|---|---|---|
| Year Founded | 2010 | 2005 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 3 |
| Tier-2 Licenses | 3 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 3 |
When comparing online brokers HFM and MultiBank, both have distinct approaches to commissions and fees. HFM, with a rating of 4 stars for commissions and fees, offers standard trading accounts with spreads starting at 1.2 pips according to the company, although this figure might not represent a true average. Their Zero account offers a more competitive effective spread of 0.7 pips after accounting for commissions, yet this is not a confirmed average. HFM is ranked 31st out of 63 brokers by ForexBrokers.com in the Commissions and Fees category, indicating a commendable but not top-tier position in the industry.
MultiBank, which also holds a 4-star rating for commissions and fees, provides three account types: Standard, Pro, and ECN. The Standard account, with a minimal $50 deposit requirement, tends to have higher relative spreads, making it more suitable for beginners. The Pro account, needing a $1,000 deposit, comes with more competitive spreads, while the ECN account, requiring a $10,000 deposit, offers the tightest spreads along with a small commission of $3 per trade. However, potential users should be aware of a $60 monthly inactivity fee if no trading occurs within 90 days.
Overall, both HFM and MultiBank deliver options tailored to different levels of traders, from novices to more seasoned investors. HFM holds a slightly better position in the industry rankings, while MultiBank stands at 38th out of 63 brokers, which underscores its solid but middle-tier status. Depending on your trading strategy and experience level, one may suit your needs better than the other based on these criteria.
| Feature |
HFM
|
MultiBank
|
|---|---|---|
| Minimum Deposit | $0 | $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 | No | No |
| ACH or SEPA Transfers | No | Yes |
| 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.
HFM and MultiBank both offer a range of investment options, with several similarities and differences. HFM provides access to 500 tradeable symbols, including 102 forex pairs, allowing traders substantial diversity, especially in forex trading. On the other hand, MultiBank offers a wider selection with 1042 tradeable symbols, though it provides a narrower range of 40 forex pairs. Both platforms offer forex trading in the form of CFDs or spot contracts, and allow users to engage in copy trading. However, neither broker offers exchange-traded securities on U.S. or international exchanges, such as purchasing shares of companies like Apple or Vodafone directly.
When it comes to cryptocurrency, HFM enables trading through derivatives but does not offer the delivery of actual cryptocurrencies. MultiBank, in contrast, provides the capability to buy actual cryptocurrencies, giving it a slight edge for those interested in owning digital assets. Despite these differences, both brokers are evenly rated at four stars for their range of investments, though HFM is slightly ahead in ForexBrokers.com rankings, positioned at #36 compared to MultiBank’s #37 out of 63 brokers. Ultimately, traders may choose between the two based on their specific trading preferences and asset interests.
| Feature |
HFM
|
MultiBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 500 | 1042 |
| Forex Pairs (Total) | 102 | 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.
Both HFM and MultiBank provide a variety of trading platforms and tools, appealing to both new and experienced traders. They each offer simulated trading with a free virtual demo account, alongside proprietary platforms created in-house. Both brokers are accessible through various means, offering Windows-based desktop platforms, web-based browser platforms, and the popular MetaTrader 4 and MetaTrader 5. For those interested in social trading, both brokers also provide copy trading options. However, neither supports platforms such as DupliTrade or ZuluTrade. In terms of charting tools, HFM provides 30 drawing tools compared to MultiBank's 17.
When it comes to trading directly from a stock chart, both HFM and MultiBank provide this feature, adding convenience for their users. Watch list functionality is comparable between the two, with each broker offering up to seven customizable fields. Rated at 4 stars for their trading platforms and tools, both brokers demonstrate reliability and effectiveness in meeting the needs of their clientele. ForexBrokers.com ranks HFM at #42 and MultiBank at #39 out of 63 brokers in this category, suggesting a slight edge in favor of MultiBank based on the criteria evaluated.
| Feature |
HFM
|
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) | 15 | 38 |
| Charting - Drawing Tools (Total) | 30 | 17 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When choosing between HFM and MultiBank for mobile trading, both platforms provide iPhone and Android apps, making them accessible on the most popular devices. Both applications offer essential features, such as stock and forex price alerts, and the ability to create watchlists with real-time quotes. However, neither HFM nor MultiBank supports watchlist symbol syncing between their mobile apps and online accounts. In terms of charting capabilities, each app provides 30 technical studies, allows users to draw trendlines, switch between different time frames, and automatically save chart drawings.
While both platforms have received a solid 4-star rating for their mobile trading apps, their rankings differ slightly, with HFM positioned at #39 and MultiBank at #41 out of 63 brokers, according to ForexBrokers.com. This comparison suggests that traders may find similar features and satisfaction levels in both apps. Regardless of the choice, users will find a comprehensive set of tools to manage and analyze their trades efficiently on the go.
| Feature |
HFM
|
MultiBank
|
|---|---|---|
| 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 | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When considering market research capabilities, HFM emerges as a strong contender with its array of features. It provides daily market commentary, which is a valuable asset for traders looking to stay informed. Additionally, HFM offers access to forex news from top-tier sources like Bloomberg and Reuters, ensuring that users receive high-quality, up-to-date information. One of the standout features is HFM's integration with Autochartist, providing technical analysis tools to assist with market predictions. They also offer a sentiment-based trading tool, giving insights into trading patterns across various currency pairs. An economic calendar further supplements their offerings, keeping traders informed of significant global events. In recognition of these comprehensive options, HFM earns a research rating of 4 stars and a commendable ranking of #20 out of 63 brokers by ForexBrokers.com.
In contrast, MultiBank's market research offerings are more limited. While it does provide access to forex news from reputable sources, it lacks daily market commentary and tools such as Autochartist, which can be crucial for in-depth technical analysis. The absence of a sentiment-based trading tool further narrows the research capabilities available to users. Despite having an economic calendar for tracking important news events, MultiBank's research services result in a 3.5-star rating, placing it at #49 among 63 brokers in the research category. For traders prioritizing in-depth research and analysis tools, HFM appears to have a more comprehensive suite of resources compared to MultiBank.
| Feature |
HFM
|
MultiBank
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | 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 the educational resources available for beginners between HFM and MultiBank, HFM clearly takes the lead with a variety of offerings. HFM provides a comprehensive suite of more than 10 educational pieces focused on forex and CFDs, alongside monthly online webinars that keep clients engaged and informed. A significant advantage is their searchable archive of recorded webinars, allowing users to revisit essential lessons at their convenience. Additionally, HFM caters to both novice and advanced traders with an array of educational videos and even offers an extensive investor dictionary with over 50 trading terms clearly defined. This holistic approach results in a solid 4-star education rating and a respectable #37 ranking out of 63 brokers according to ForexBrokers.com.
On the other hand, MultiBank offers a good range of educational materials geared towards beginners, including at least 10 videos on basic trading topics and a selection of articles and other resources. However, it lacks some critical features that HFM provides. Most notably, MultiBank does not offer regular online webinars or maintain an archive of recorded sessions, which can be a drawback for users seeking regular, updated guidance. The absence of an investor dictionary and limited advanced educational videos can further be challenging for more experienced traders looking to deepen their knowledge. Consequently, MultiBank is rated at 3.5 stars for education and is ranked #50 out of 63 brokers by ForexBrokers.com.
| Feature |
HFM
|
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 HFM is better than MultiBank. HFM finished with an overall rank of #30, while MultiBank finished with an overall rank of #40.
Alongside its enhanced MetaTrader offering and quality research, HFM (HF Markets), previously known as HotForex, offers a proprietary copy trading platform, HFcopy, a proprietary HF mobile app, and a decent selection of over 1,000 CFDs and 47 forex pairs. Still, trading costs at HFM are slightly above the industry average.
| Feature |
HFM
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MultiBank
|
|---|---|---|
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| Trust Score | 86 | 84 |
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While HFM provides access to cryptocurrency derivatives but not actual cryptocurrencies, MultiBank offers the flexibility to purchase both real cryptocurrencies and their derivatives.
While both HFM and MultiBank support Skrill, Visa, Mastercard, and bank wire transfers for depositing or withdrawing funds, MultiBank additionally offers ACH or SEPA transfers, which HFM does not, and neither broker supports 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 | HFM | MultiBank | |
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| Trust Score | 86 | 84 | |
| Winner | check_circle | ||
| Review | HFM Review | MultiBank Review |
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| Regulation | HFM | MultiBank | |
|---|---|---|---|
| Trust Score | 86 | 84 | |
| Year Founded | 2010 | 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 | 3 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 3 |
| Tier-1 Licenses (Highly Trusted) | HFM | MultiBank | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | 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) | Yes | 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) | HFM | MultiBank | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | HFM | MultiBank | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 500 | 1042 | |
| Forex Pairs (Total) | 102 | 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 | HFM | 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 | No | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | HFM | MultiBank | |
|---|---|---|---|
| Minimum Deposit | $0 | $50 | |
| 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 | No | Yes |
| Trading Platforms | HFM | 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 | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | HFM | MultiBank | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 15 | 38 | |
| Charting - Drawing Tools (Total) | 30 | 17 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | HFM | 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 | 30 | 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 | HFM | MultiBank | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | HFM | 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 | HFM | 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 | HFM Review | MultiBank Review |
| Overall | HFM | MultiBank | |
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| Trust Score | 86 | 84 | |
| Winner | check_circle | ||
| Review | HFM Review | MultiBank Review |
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