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 comparing OANDA and MultiBank for commissions and fees, both brokers offer distinct advantages and challenges. OANDA, with its 4-star rating, positions itself with high-effective spreads that are slightly on the higher side compared to some top-tier brokers. Nonetheless, OANDA offers automated execution across its accounts, which can be an appealing feature. For traders looking for better pricing, OANDA offers a core pricing model with lower spreads and a commission of $5 per $100,000 traded, demanding a minimum deposit of $10,000. Despite the fees, OANDA incorporates a unique micro lot trading size of one unit, equating to 0.001 of a micro lot, making it accessible for smaller trades.
On the other hand, MultiBank, also rated 4 stars, offers three account types: Standard, Pro, and ECN. The Standard account requires a $50 minimum deposit but comes with relatively higher spreads, making it less ideal for experienced traders. For a more competitive edge, the Pro account, with a $1,000 deposit requirement, offers better spread rates. MultiBank’s ECN account, mandating a $10,000 deposit, provides the lowest spreads and charges a round-trip commission of $3, appealing to higher-volume traders. However, traders should note the $60 per month inactivity fee if the account remains dormant for 90 days.
In terms of overall rankings in the Commissions and Fees category by ForexBrokers.com, OANDA is positioned at #34 out of 63 brokers, while MultiBank ranks slightly behind at #38. While both brokers offer competitive pricing models, your choice may come down to factors like available capital, desired account structure, and trading frequency.
| 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 available at OANDA and MultiBank, both online brokers provide options for forex trading through CFDs or spot contracts. OANDA impresses with its vast selection, offering 3,928 tradeable symbols, including 68 forex pairs. In contrast, MultiBank provides access to 1,042 tradeable symbols, featuring 40 forex pairs. Unfortunately, neither broker offers direct exchange-traded securities, such as buying shares on U.S. or international exchanges. However, both platforms cater to the growing interest in cryptocurrency, allowing clients to purchase actual digital currencies and engage in trading cryptocurrency derivatives.
For those interested in copy trading, both OANDA and MultiBank accommodate this feature. Despite their similarities, OANDA's more extensive selection of tradeable symbols may make it appealing for traders seeking variety. This broader offering helps earn OANDA a rating of four stars and a rank of #27 out of 63 brokers in the Range of Investments category on ForexBrokers.com. Meanwhile, MultiBank also garners a four-star rating, although it ranks slightly lower at #37. Both platforms present a strong case for traders, but the choice may come down to specific tradeable options and personal preference.
| 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 cater to traders with a variety of platforms and tools. Each offers a free virtual demo account, providing a risk-free environment to test strategies. They both have developed proprietary platforms and support for popular MetaTrader 4 and MetaTrader 5, allowing for flexibility in trading preferences. Windows-based desktop platforms and web-based browser platforms are available through both brokers, accommodating users who prefer trading on either desktop or web. Moreover, they both support copy trading, enabling traders to mirror the strategies of others. However, neither broker supports DupliTrade or ZuluTrade. OANDA and MultiBank are evenly rated with 4 stars for their trading platforms and tools.
Despite their similarities, there are some differences. OANDA outshines with 431 drawing tools for charting, compared to MultiBank's 17, offering more options for detailed market analysis. On the other hand, MultiBank exceeds OANDA slightly in the number of columns available for watch lists, with 7 fields to OANDA's 6. Both brokers allow traders to trade directly from a stock chart, streamlining the trading process. In terms of rankings by ForexBrokers.com, OANDA holds a higher position at #15 compared to MultiBank's #39, reflecting a broader recognition for OANDA's trading platform capabilities.
| 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 offer comprehensive mobile trading apps for iPhone and Android users. These apps are packed with features, such as stock and forex price alerts, tools to draw trendlines on charts, and the ability to switch between different time frames. Each platform offers 30 technical studies for charting, ensuring that traders have ample resources to analyze market trends. Additionally, both OANDA and MultiBank automatically save drawings on charts, enhancing the user experience.
One notable difference between the two is reflected in their industry ratings. OANDA's app is rated 5 stars and holds an impressive #7 rank among 63 brokers on ForexBrokers.com. In contrast, MultiBank's app is rated 4 stars, standing at #41 in the same category. While neither app supports watchlist syncing with online accounts, they both allow the creation of watchlists with real-time quotes, catering to active traders on the go. Overall, OANDA's mobile app stands out with its higher ratings and rankings, suggesting a more favorable user experience.
| 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 market research offerings, OANDA stands out as a strong choice for traders seeking timely insights and tools, securing a top ranking in the industry. OANDA provides daily market commentary and access to forex news from leading sources like Bloomberg and Reuters, supporting traders with up-to-date information. Additionally, traders can benefit from OANDA's technical analysis tools provided by Autochartist and their sentiment-based trading tool that tracks long and short position ratios across currency pairs. OANDA also features an economic calendar covering global events, earning them a commendable 5-star research rating.
By contrast, MultiBank is slightly more limited in its research offerings and holds a lower industry ranking. Although it provides forex news from top-tier sources and has an economic calendar similar to OANDA, it lacks daily market commentary and tools from Autochartist for technical analysis. MultiBank also does not offer a sentiment-based trading tool, which could be a drawback for traders looking for deeper market insights. With these factors in mind, MultiBank receives a lower 3.5-star rating in research compared to OANDA's notable performance.
| 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.
When it comes to educational resources for beginners, OANDA and MultiBank both provide over ten pieces of forex and CFD educational content, such as articles and videos. However, OANDA goes a step further by offering monthly online educational webinars and a searchable archive of recorded sessions, a feature that MultiBank does not offer. For those starting out, both platforms provide a solid collection of beginner trading videos. Still, OANDA also caters to more experienced traders with an array of advanced educational videos, a service MultiBank lacks. OANDA further enhances its educational offerings with an investor dictionary covering over 50 investing terms, another resource missing from MultiBank's repertoire.
In terms of ease of learning and resource availability, OANDA scores higher, receiving a 5-star rating for its educational services compared to MultiBank’s 3.5 stars. This higher rating reflects OANDA's commitment to supporting both novice and experienced traders. Ranked 22nd out of 63 brokers by ForexBrokers.com in the education category, OANDA stands well ahead of MultiBank, which is positioned at 50th. For beginners seeking comprehensive educational support and ongoing learning opportunities, OANDA seems to offer a more complete package.
| 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) | 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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