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 |
When examining the commissions and fees of online brokers OANDA and MultiBank, both hold a 4-star rating, though their pricing structures differ significantly. OANDA is known for its generally higher forex trading costs with effective spreads that surpass some of the best in the industry. Although not a discount broker, OANDA stands out due to its automated execution and offers unique features like trading units as small as 0.001 micro lots. Its core pricing plan offers reduced spreads but includes a commission of $5 per $100,000 traded, leading to an all-in cost that is slightly favorable compared to its commission-free option.
Conversely, MultiBank provides three account types: Standard, Pro, and ECN. The Standard account has a low $50 minimum deposit but higher spreads, making it more suitable for beginners. The Pro account, requiring a $1,000 minimum deposit, offers better spreads, while the ECN account boasts the lowest spreads with a $10,000 minimum deposit and a minimal round-trip commission of $3 per trade. One potential drawback for MultiBank customers is a non-trading fee of $60 per month if accounts remain inactive for over 90 days.
In a ranking context, OANDA stands at #34 and MultiBank at #38 out of 62 brokers for the Commissions and Fees category according to ForexBrokers.com. This positions OANDA slightly ahead in terms of commission and fee structure, offering potential advantages for traders who are particularly focused on cost-effectiveness and transparency.
| Feature |
OANDA
|
MultiBank
|
|---|---|---|
| Minimum Deposit | $0 | $50 |
| Average Spread EUR/USD - Standard | 1.61 | N/A |
| All-in Cost EUR/USD - Active | 1.61 | 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.
When comparing the range of investments offered by OANDA and MultiBank, both brokers provide a variety of options to suit diverse trading needs. OANDA stands out with an impressive 3,928 tradeable symbols, significantly surpassing MultiBank's 1,042. In the forex market, OANDA also leads with 68 tradeable forex pairs compared to MultiBank's 40. Both platforms offer forex trading as CFDs or spot contracts, enabling traders to engage in the foreign exchange market flexibly. Additionally, while neither broker provides access to exchange-traded securities on U.S. or international exchanges, they both offer copy trading and the capability to purchase actual cryptocurrencies as well as cryptocurrency derivatives.
Despite the differences in the number of investment options, both OANDA and MultiBank are recognized for their comprehensive range of offerings, each receiving a four-star rating for their range of investments. However, when it comes to rankings by ForexBrokers.com, OANDA takes a slight lead at 27th place, while MultiBank is positioned at 37th out of 62 brokers. This makes both brokers excellent choices for those seeking a diverse array of trading opportunities, though OANDA offers a slightly broader selection in terms of tradeable symbols and forex pairs.
| Feature |
OANDA
|
MultiBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3928 | 1042 |
| Forex Pairs (Total) | 68 | 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) | 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 offer comprehensive trading platforms that cater to a broad range of trading needs. Each broker provides a free virtual demo account, allowing traders to practice strategies without risking real money. Both OANDA and MultiBank have developed their own proprietary platforms that can be accessed via a Windows-based desktop app and web browsers. While they support popular third-party platforms like MetaTrader 4 and MetaTrader 5, neither offers support for DupliTrade or ZuluTrade. Notably, OANDA and MultiBank both include copy trading features and allow traders to execute trades directly from stock charts, enhancing the user experience.
In terms of charting tools, OANDA stands out with 431 drawing tools compared to MultiBank's 17, offering traders more resources for detailed analysis. For customizing watch lists, MultiBank provides seven columns compared to OANDA's six. However, while both are rated four stars for trading platforms and tools, OANDA holds a higher ranking at #15 out of 62 brokers based on ForexBrokers.com, compared to MultiBank's #39 ranking. This distinction may influence traders who prioritize trading tools and platform features in their brokerage selection.
| 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) | 81 | 38 |
| Charting - Drawing Tools (Total) | 431 | 17 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both OANDA and MultiBank provide feature-rich mobile trading apps available for iPhone and Android users, making it convenient for traders to stay connected on the go. Their apps support stock and forex price alerts and allow drawing trendlines and viewing multiple time frames on charts. While both brokers offer 30 technical studies for charting, neither app syncs watchlist symbols with the user's online account. However, they both excel in creating watchlists with real-time quotes and automatically saving chart drawings, ensuring a seamless trading experience.
When it comes to ratings, OANDA's mobile trading app earns a stellar rating of five stars, further cementing its position as a top-tier option with a rank of #7 out of 62 brokers according to ForexBrokers.com. In comparison, MultiBank's app is rated four stars and is ranked #41. Both apps offer a comprehensive trading toolkit, but OANDA's higher rating and ranking indicate a slightly more favorable experience for mobile traders.
| 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.
When comparing OANDA and MultiBank for market research offerings, OANDA emerges as a more comprehensive option for traders. OANDA excels by providing daily market commentary, a feature not available with MultiBank. Both brokers offer forex news from well-regarded sources like Bloomberg and Reuters, ensuring traders have access to reliable information. OANDA takes it a step further with Autochartist tools, empowering traders with advanced technical analysis capabilities, a service MultiBank does not provide. Additionally, OANDA offers a sentiment-based trading tool that gives insights into long and short positions across various currency pairs, whereas MultiBank lacks this feature. Both brokers offer an economic calendar, aiding traders in keeping track of significant economic events.
While OANDA does not utilize research tools from Trading Central, TipRanks, or Acuity Trading, its strong offerings in other areas earn it an impressive 5-star rating for research compared to MultiBank's 3.5 stars. This distinction is further highlighted by OANDA’s high ranking—5th out of 62 brokers—on ForexBrokers.com for its research services, whereas MultiBank is ranked 49th. With a broad array of market insights and analytic tools, OANDA provides traders with a well-rounded research experience, making it a favored choice for those looking to enhance their trading strategies.
| 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 | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources for beginners offered by online brokers OANDA and MultiBank, OANDA offers a more comprehensive and varied selection. Both brokers provide at least 10 educational materials, such as articles and videos, focusing on forex or CFDs, catering to those just starting out. However, OANDA goes further by offering monthly live webinars, which help engage learners with interactive real-time advice and insights. In contrast, MultiBank does not provide such regular live educational experiences. Additionally, OANDA maintains a searchable archive of recorded webinars, allowing learners to access past sessions anytime, a feature lacking in MultiBank's offerings.
For beginners seeking video-based learning, both OANDA and MultiBank offer at least 10 beginner-friendly videos. However, OANDA distinguishes itself with its advanced video content targeting experienced traders and a comprehensive investor dictionary with over 50 investing terms. This breadth of educational materials is reflected in OANDA's 5-star rating for education, compared to MultiBank's 3.5 stars. Moreover, OANDA is ranked #22 among 62 brokers for education by ForexBrokers.com, while MultiBank sits at #50, highlighting OANDA's stronger commitment to supporting its clients' learning journeys.
| 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 62 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 |
| Broker Screenshots | OANDA | MultiBank | |
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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) | No | No | |
| 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) | No | No | |
| 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) | No | No |
| Investments | OANDA | MultiBank | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3928 | 1042 | |
| Forex Pairs (Total) | 68 | 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) | 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 | 1.61 | N/A | |
| All-in Cost EUR/USD - Active | 1.61 | 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) | 81 | 38 | |
| Charting - Drawing Tools (Total) | 431 | 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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