Written by ForexBrokers.com
In this head to head comparison of OANDA 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.
OANDA, established in 1996, stands as a notable presence in the online brokerage world with a commendable ForexBrokers.com Trust Score of 93, indicating a high level of trust. While OANDA is not publicly traded and does not operate as a bank, it is bolstered by 7 Tier-1 licenses that signify a strong regulatory foundation. In contrast, MultiBank, founded in 2005, operates under a slightly lower Trust Score of 84, still portraying a trusted reputation. Like OANDA, MultiBank is not publicly traded and is not a bank. However, it holds fewer Tier-1 licenses, totaling 3, but also possesses 1 Tier-2 license, which further supports its regulatory status.
Both OANDA and MultiBank make significant strides in offering secure trading environments, although OANDA edges slightly ahead with its higher number of Tier-1 licenses. This reflects a higher degree of regulatory acknowledgment compared to MultiBank. For traders, both brokers provide trustworthy options, yet OANDA may offer additional peace of mind due to its longer-standing presence and greater number of top-tier licenses.
| Feature |
OANDA
|
MultiBank
|
|---|---|---|
| Year Founded | 1996 | 2005 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 3 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 3 |
OANDA and MultiBank both earn 4 stars for commissions and fees, but their rankings differ: OANDA is #35 of 63, while MultiBank is #39 of 63 (ForexBrokers.com). OANDA’s pricing skews higher overall, though its core pricing can trim costs. MultiBank’s tiers make pricing dependent on the account you choose and the deposit you can commit.
OANDA’s non-core average spread on EUR/USD was 1.61 pips in July 2024. Its core pricing lowers the spread but adds a commission of $5 per $100,000 per side (about $10 per round turn), with a $10,000 minimum deposit. In a common scenario, a 0.4‑pip core spread plus the commission (about 1 pip round turn) puts the all-in cost near 1.4 pips—slightly under the 1.6‑pip default. OANDA also allows trade sizes as small as 1 unit and offers volume-based rebates ($5–$17 per million) in select regions, alongside automated trade execution and transparent, trailing-average spread data.
MultiBank offers three accounts: Standard (higher spreads; $50 minimum), Pro (lower spreads; $1,000 minimum), and ECN (lowest spreads; $10,000 minimum) with a $3 round-trip commission. Watch the non-trading costs: MultiBank charges a $60 monthly inactivity fee after 90 days without trading. If you want tighter spreads and can meet higher minimums, MultiBank’s Pro or ECN tiers may deliver lower all-in costs; if you value micro-sizing and automation, OANDA may be more convenient despite higher typical spreads.
| Feature |
OANDA
|
MultiBank
|
|---|---|---|
| Minimum Deposit | $0 | $50 |
| Average Spread EUR/USD - Standard | 1.69 | N/A |
| All-in Cost EUR/USD - Active | 1.69 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | 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.
OANDA and MultiBank both let you trade forex as CFDs or as spot contracts, support copy trading, and offer access to both real cryptocurrency and crypto derivatives. Where they differ is in overall market access. OANDA lists 4,172 tradeable symbols and 69 forex pairs, while MultiBank offers 1,042 symbols and 40 pairs. OANDA also lets clients buy exchange-traded stocks on U.S. and international exchanges (for example, Apple or Vodafone), whereas MultiBank does not provide stock trading outside of CFDs.
Both brokers earn 4 out of 5 stars for Range of Investments, but OANDA ranks higher in this category (#28 of 63) than MultiBank (#38 of 63) according to ForexBrokers.com. If you want more markets and the ability to buy actual shares, OANDA is the stronger fit. If your focus is forex and crypto with copy trading, MultiBank remains a solid option.
| Feature |
OANDA
|
MultiBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4172 | 1042 |
| Forex Pairs (Total) | 69 | 40 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | Yes | 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.
OANDA and MultiBank both check the key boxes for trading platforms and tools. Each broker offers a free demo account for practice, a proprietary platform, Windows desktop software, and a web-based platform. Popular third-party choices are covered too, with support for MetaTrader 4 and MetaTrader 5, plus copy trading. Neither broker integrates DupliTrade or ZuluTrade. For charting, OANDA stands out with 74 drawing tools compared to MultiBank’s 17, and both let you place trades directly from charts. Watch lists differ slightly: OANDA offers 6 columns, while MultiBank provides 7. Technical indicator counts weren’t specified in the data provided.
Both brokers earned 4 out of 5 stars for Trading Platforms and Tools, yet their rankings diverge: OANDA is placed 15th out of 63 brokers by ForexBrokers.com, while MultiBank sits at 40th. If you value more drawing tools and a higher category ranking, OANDA may appeal. If an extra watch list field matters to you, MultiBank could edge ahead.
| Feature |
OANDA
|
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) | 89 | 38 |
| Charting - Drawing Tools (Total) | 74 | 17 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
OANDA and MultiBank both deliver capable mobile trading apps for iPhone and Android. You get price alerts, real-time watchlists, and charting with 30 technical studies, trendline drawing, multiple time frames (from intraday to weekly), and auto-saved drawings. For everyday trading needs, the core tools are similar across both apps.
The key differences show up in ratings and rankings. Neither app syncs watchlist symbols between mobile and your online account, but OANDA earns higher marks: 5 stars and #7 out of 63 brokers for Mobile Trading Apps at ForexBrokers.com. MultiBank is rated 4 stars and ranks #42. If you want the higher-rated mobile experience, OANDA has the edge; if you only need the essentials on iPhone or Android, either app will do.
| Feature |
OANDA
|
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.
In the OANDA vs MultiBank research comparison, OANDA clearly offers more in-platform insights. OANDA provides daily market commentary, streaming forex news from top-tier sources like Bloomberg and Reuters, Autochartist tools for technical analysis, a sentiment tool showing long/short positioning, and an economic calendar. MultiBank delivers quality news and an economic calendar, but it lacks daily commentary, Autochartist, and a sentiment tool. Neither broker includes Trading Central or TipRanks.
For ratings, OANDA earns 5 stars and ranks #5 out of 63 brokers for Research on ForexBrokers.com, while MultiBank holds 3.5 stars and ranks #50. If you want deeper, built-in research features, OANDA is the stronger choice; if you only need news and a calendar, MultiBank may suffice.
| Feature |
OANDA
|
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 | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginner traders comparing education at OANDA and MultiBank, both brokers offer at least ten forex and CFD lessons and a set of beginner-friendly videos. OANDA stands out by hosting monthly client webinars and keeping a searchable archive of recorded sessions, while MultiBank does not offer webinars or an archive. OANDA also provides at least ten advanced trading videos and an investor dictionary with 50+ terms—two resources MultiBank lacks—making OANDA a more complete learning path from first steps to more advanced topics.
Ratings reflect these differences: ForexBrokers.com gives OANDA 5 stars for Education and ranks it #19 out of 63 brokers. MultiBank receives 3.5 stars and ranks #50. If you want structured forex and CFD education with live webinars, an on-demand library, and a helpful glossary, OANDA is the stronger pick for beginners.
| Feature |
OANDA
|
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 OANDA is better than MultiBank. OANDA finished with an overall rank of #12, while MultiBank finished with an overall rank of #40.
A trusted global brand, OANDA stands out for its reputation and quality market research. Its regulatory track record is strong, and its support for third-party features bolsters its overall offering.
| Feature |
OANDA
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MultiBank
|
|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 84 |
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Both OANDA and MultiBank provide the ability to purchase actual cryptocurrency as well as cryptocurrency derivatives, offering comprehensive options for traders interested in both delivered digital assets and their derivatives.
Both OANDA and MultiBank offer ACH or SEPA transfers, Skrill, Visa or Mastercard, and bank wires for deposits and withdrawals, but OANDA has the added benefit of accepting PayPal, which MultiBank does not support.
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 | OANDA | MultiBank | |
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| Trust Score | 93 | 84 | |
| Winner | check_circle | ||
| Review | OANDA Review | MultiBank Review |
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| Regulation | OANDA | MultiBank | |
|---|---|---|---|
| Trust Score | 93 | 84 | |
| Year Founded | 1996 | 2005 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 3 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 3 |
| Tier-1 Licenses (Highly Trusted) | OANDA | MultiBank | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | OANDA | MultiBank | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | OANDA | MultiBank | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 4172 | 1042 | |
| Forex Pairs (Total) | 69 | 40 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | Yes | 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 | OANDA | MultiBank | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.69 | N/A | |
| All-in Cost EUR/USD - Active | 1.69 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | OANDA | MultiBank | |
|---|---|---|---|
| Minimum Deposit | $0 | $50 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | OANDA | 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 | OANDA | MultiBank | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 89 | 38 | |
| Charting - Drawing Tools (Total) | 74 | 17 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | OANDA | 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 | OANDA | 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 | OANDA | 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 | OANDA | 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 | OANDA Review | MultiBank Review |
| Overall | OANDA | MultiBank | |
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| Trust Score | 93 | 84 | |
| Winner | check_circle | ||
| Review | OANDA Review | MultiBank Review |
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