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 account | 1.69 | N/A |
| All-in Cost EUR/USD - Active | 1.69 | N/A |
| Non-wire bank transfer | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | |
| Skrill (Deposit/Withdraw) | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes |
Dive deeper: Best Low Spread Forex Brokers.
OANDA vs. MultiBank: both brokers let you trade forex as CFDs or spot and both support copy trading. Each also offers cryptocurrency in two ways: you can buy actual coins or trade crypto via CFDs. Where they differ is scale. OANDA lists 4,172 tradeable symbols and 69 forex pairs, while MultiBank offers 1,042 symbols and 40 pairs.
OANDA also provides exchange-traded shares on U.S. and international stock exchanges (for example, Apple and Vodafone), whereas MultiBank does not offer exchange-traded stocks. For Range of Investments, both earn 4 out of 5 stars, but OANDA ranks higher (#28 of 63) than MultiBank (#38 of 63). If you want wider market access, especially to stocks plus more symbols and pairs, OANDA has the edge; if you prefer a simpler lineup focused on core markets, MultiBank may suit your needs.
| Feature |
OANDA
|
MultiBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4172 | 1042 |
| Forex Pairs (Total) | 69 | 40 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | Yes | Yes |
| Cryptocurrency (CFDs) | 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.
Online brokers OANDA and MultiBank both cover the basics and then some: each offers a free demo account for paper trading, a proprietary trading platform, and popular third‑party options MetaTrader 4 (MT4) and MetaTrader 5 (MT5). You can trade on a Windows desktop app or in a web browser, place orders straight from charts, and use copy trading—useful if you want familiar tools plus an in-house platform in one place.
Both brokers earn 4 stars for Trading Platforms and Tools, but OANDA ranks higher with ForexBrokers.com (#15 of 63) compared with MultiBank (#40 of 63). Specific counts for chart indicators and watchlist columns weren’t listed here, so check each platform if those details matter to you. If you value a stronger category ranking, OANDA has the edge; if you mainly want MT4/MT5, web and desktop access, and a free demo, both are solid choices.
| Feature |
OANDA
|
MultiBank
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| Charting - Indicators / Studies (Total) | 89 | 38 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
OANDA and MultiBank both offer mobile trading apps for iPhone and Android. Each app includes forex price alerts, 30 technical studies for charting, trendline drawing, and auto-saved chart annotations. One limitation to note is that neither app supports watchlist symbol syncing with your online account, so changes made on mobile won’t sync to the web platform.
When it comes to ratings, OANDA’s mobile app earns 5 stars and ranks #7 out of 63 brokers at ForexBrokers.com. MultiBank’s app holds 4 stars and ranks #42. If ratings and industry standing are important to you, OANDA is the stronger choice for a mobile trading experience, while MultiBank covers the basics for traders who want iPhone and Android access with alerts and common charting tools.
| Feature |
OANDA
|
MultiBank
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
For market research, OANDA delivers more depth than MultiBank. OANDA provides daily market commentary, top-tier forex news from sources like Bloomberg, Reuters, or Dow Jones, Autochartist-powered technical tools, and a sentiment indicator that shows the ratio of long vs. short positions. MultiBank offers premium forex news and an economic calendar, but it does not include daily commentary, Autochartist tools, or a sentiment gauge. Neither broker features Trading Central or TipRanks. Both brokers include an economic calendar to track upcoming events.
Independent ratings back up the difference: OANDA earns 5 stars and ranks #4 out of 63 brokers for Research at ForexBrokers.com, while MultiBank scores 3.5 stars and ranks #50. If you want daily analysis, scanning tools, and sentiment data alongside headline news and an economic calendar, OANDA is the stronger choice; if you only need news and a calendar, MultiBank covers the basics.
| Feature |
OANDA
|
MultiBank
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central | No | No |
| Client sentiment data | Yes | No |
| TipRanks | No | No |
| Acuity Trading | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
OANDA and MultiBank both provide forex and CFD education that clears the basic bar of at least 10 learning pieces. For beginners, OANDA stands out with ongoing support: it hosts client webinars at least once a month, offers 10+ beginner videos, and also delivers 10+ advanced videos for when you’re ready to level up. MultiBank supplies 10+ beginner videos, which is helpful for getting started, but it does not run monthly educational webinars and does not reach the same depth on advanced topics.
If you want a more complete learning path, OANDA earns higher marks: it’s rated 5 stars for Education and ranks #19 out of 63 brokers by ForexBrokers.com. MultiBank is rated 3.5 stars and ranks #50 out of 63. In short, beginners who value live sessions and room to grow into advanced material may prefer OANDA, while MultiBank suits those who mainly want a basic library of beginner videos.
| Feature |
OANDA
|
MultiBank
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | 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
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| Trust Score | 93 | 84 |
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In the OANDA vs MultiBank comparison, both brokers enable clients to buy actual (delivered) cryptocurrencies and to buy cryptocurrency CFDs, offering flexible crypto trading and investing options.
OANDA vs MultiBank: OANDA supports ACH/SEPA, PayPal, Skrill, and bank wire deposits and withdrawals; MultiBank supports ACH/SEPA, while availability of PayPal, Skrill, Visa/Mastercard, and bank wires is not specified.
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) | |||
| 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, FSRA, or SCA 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. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | Yes | Yes | |
| Cryptocurrency (CFDs) | 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 account | 1.69 | N/A | |
| All-in Cost EUR/USD - Active | 1.69 | N/A | |
| Inactivity Fee | Yes | Yes | |
| Order execution: Agency | No | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | OANDA | MultiBank | |
|---|---|---|---|
| Minimum Deposit | $0 | $50 | |
| PayPal (Deposit/Withdraw) | Yes | ||
| Skrill (Deposit/Withdraw) | Yes | ||
| Bank Wire (Deposit/Withdraw) | Yes | ||
| Non-wire bank transfer | Yes | Yes |
| Trading Platforms | OANDA | MultiBank | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | No |
| Trading Tools | OANDA | MultiBank | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 89 | 38 | |
| 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 Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | OANDA | MultiBank | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central | No | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | MultiBank | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | OANDA | MultiBank | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| 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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