Written by ForexBrokers.com
In this head to head comparison of MultiBank vs Octa, 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.
Founded in 2005, MultiBank stands out in the online brokerage landscape with a ForexBrokers.com Trust Score of 84, placing it in the trusted category. MultiBank holds three top-tier licenses and an additional trusted Tier-2 license, supporting its credibility in the market. Although it’s not publicly traded or a bank, MultiBank's regulatory framework contributes to its perceived trustworthiness among peer brokers.
In comparison, Octa, established in 2011, holds a Trust Score of 72, categorized as average risk by ForexBrokers.com. It possesses one highly trusted Tier-1 license, and like MultiBank, it has an additional Tier-2 license. Despite not being a public entity or a financial institution, Octa's regulatory profile offers moderate assurance to consumers. This distinction in trust scores and licenses helps investors understand the varying levels of perceived risk when choosing between these two brokers.
| Feature |
MultiBank
|
Octa
|
|---|---|---|
| Year Founded | 2005 | 2011 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 1 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 1 |
When comparing the commissions and fees of MultiBank and Octa, both brokers offer their distinct advantages for forex and CFD trading. MultiBank provides traders with three account types: Standard, Pro, and ECN. The Standard account is accessible with a $50 deposit but comes with higher spreads, while the Pro account, requiring a $1,000 deposit, features lower spreads. The ECN account offers the lowest spreads with a $10,000 deposit and charges a modest $3 commission per trade. MultiBank also imposes a $60 per month inactivity fee if there's no trading activity for 90 days. MultiBank's overall rating for commissions and fees is 4 stars, placing it at 38th out of 63 brokers according to ForexBrokers.com rankings.
Octa has made significant strides in pricing, becoming more competitive in the MetaTrader broker market. It boasts no slippage on 97.5% of executed orders and no overnight carry costs. Octa’s account fees vary by account type and the regulatory entity. European traders have a single MT5 account choice, while international clients can choose from MT4, MT5, and OctaTrader accounts, with spreads differing slightly between entities. Octa’s EU entity offers better spreads for the EUR/USD pair, averaging 0.5 pips, compared to 0.9 pips for its foreign entities. Despite some restrictions affecting high-frequency traders and a lack of precise spread data dating, Octa has improved its pricing structure. Like MultiBank, Octa also garners a 4-star rating and is ranked 29th by ForexBrokers.com.
In summary, while both brokers come in at 4 stars for commissions and fees, Octa edges slightly ahead with a higher ranking, offering more competitive spreads for the EUR/USD pair in the EU entity. MultiBank provides tiered accounts with varying spreads and commissions, catering to different levels of trader experience. However, traders should consider the inactivity fee when evaluating MultiBank. With both brokers, understanding the specific account options and associated costs based on region and preference is essential to making the right choice.
| Feature |
MultiBank
|
Octa
|
|---|---|---|
| Minimum Deposit | $50 | $25 |
| Average Spread EUR/USD - Standard | N/A | 0.9 |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | Yes | No |
| 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.
When comparing MultiBank and Octa based on their range of investments, both brokers offer forex trading as CFDs or spot contracts. MultiBank stands out with a broad selection of 1,042 tradeable symbols compared to Octa's 300. This includes a higher number of forex pairs, with MultiBank offering 40 pairs and Octa providing 35. While neither broker allows for direct investment in exchange-traded securities on U.S. exchanges, Octa does offer access to international exchanges, whereas MultiBank does not. Additionally, both provide opportunities for copy trading. However, MultiBank allows for purchasing actual cryptocurrencies, a feature missing from Octa, though both offer cryptocurrency derivatives.
In terms of ratings, MultiBank receives a slightly higher score for its range of investments, with 4 out of 5 stars, compared to Octa's 3.5 stars. This reflects MultiBank's robust offering of tradeable symbols and more expansive trading options. According to ForexBrokers.com, MultiBank ranks #37 out of 63 brokers for its range of investments, whereas Octa ranks #52, highlighting a more comprehensive selection available through MultiBank.
| Feature |
MultiBank
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1042 | 300 |
| Forex Pairs (Total) | 40 | 35 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | Yes | No |
| 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.
When comparing MultiBank and Octa for their trading platforms and tools, both brokers offer an array of features that cater to various trading needs. They each provide free virtual demo accounts, allowing traders to practice without financial risk. Additionally, both companies have developed their own proprietary platforms and also offer popular third-party software like MetaTrader 4 and 5. Users can access trading through Windows-based desktop platforms and web browsers, giving flexibility in how they trade. While both offer copy trading capabilities, neither supports ZuluTrade or DupliTrade. MultiBank leads slightly in charting tools with 17 drawing tools compared to Octa's 15, though both ensure direct trading from stock charts.
For those maintaining watch lists, both MultiBank and Octa offer the same number of custom fields, ensuring ample space for necessary information. Despite similarities in features and trading platform capabilities, Octa is ranked slightly higher by ForexBrokers.com, sitting at #37 compared to MultiBank's #39 out of 63 brokers. However, both receive a solid four-star rating for their trading platforms and tools, indicating a high level of satisfaction among users who value reliable and versatile trading environments.
| Feature |
MultiBank
|
Octa
|
|---|---|---|
| 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) | 38 | 30 |
| Charting - Drawing Tools (Total) | 17 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both MultiBank and Octa offer solid options for traders on the go. Available for both iPhone and Android users, these apps provide essential features such as stock and forex price alerts and the ability to create watchlists with real-time quotes. Charting is also a key component for both platforms, with each boasting 30 technical studies and the ability to draw trendlines on charts. Users can also view multiple time frames, from daily and weekly to intraday, and conveniently have their chart drawings automatically saved.
While MultiBank and Octa share many features, there are also a few areas where they align closely. Neither platform offers watchlist symbol syncing between mobile and online accounts. Despite this, both apps are rated four stars for their overall mobile trading experience. According to ForexBrokers.com, MultiBank ranks #41 out of 63 brokers in the Mobile Trading Apps category, while Octa is slightly ahead at #36. These rankings suggest that both apps serve traders well, making their mobile trading experiences seamless and efficient.
| Feature |
MultiBank
|
Octa
|
|---|---|---|
| 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 MultiBank to Octa for their market research offerings, Octa has a slight edge in providing daily market commentary, while both brokers deliver forex news updates from prestigious sources such as Bloomberg and Reuters. However, when it comes to advanced technical or fundamental analysis tools, Octa stands out by providing Autochartist tools, unlike MultiBank, which lacks similar offerings. Neither broker offers sentiment-based trading tools or market research from companies like TipRanks or Acuity Trading, though both supply an economic calendar to keep traders informed of important news events worldwide.
In terms of research ratings, Octa scores slightly higher with a 4-star evaluation compared to MultiBank's 3.5-star rating. When ranked among 63 brokers by ForexBrokers.com, Octa is positioned more favorably at 27th, while MultiBank trails at 49th. This data suggests that Octa users might enjoy a richer array of market insights and analysis tools, potentially benefiting those who prioritize detailed market research in their trading strategy.
| Feature |
MultiBank
|
Octa
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When evaluating the educational offerings of MultiBank and Octa for beginners, both platforms provide more than 10 educational materials focusing on forex and CFDs. However, Octa sets itself apart by hosting monthly online webinars and maintaining a searchable archive of past webinars, which is a feature absent in MultiBank's offerings. In terms of video content tailored specifically for beginners, both brokers deliver over 10 engaging tutorials. Yet, for those seeking more challenging material, Octa once again takes the lead by offering advanced videos targeted at seasoned traders, whereas MultiBank does not.
Furthermore, Octa enhances its educational suite with an investor dictionary that includes definitions for over 50 investing terms, a resource not provided by MultiBank. Overall, Octa receives a slightly higher education rating of 4 stars compared to MultiBank's 3.5 stars, reflecting its more comprehensive educational resources. On ForexBrokers.com, Octa is ranked #42 out of 63 brokers in the Education category, which is a better standing than MultiBank's ranking at #50. Thus, for those prioritizing educational content when starting out, Octa appears to offer a broader array of resources designed to support learning and growth in the trading space.
| Feature |
MultiBank
|
Octa
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | Yes |
| Client Webinars (Archived) | No | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | Yes |
| Investor Dictionary (Glossary) | No | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that MultiBank is better than Octa. MultiBank finished with an overall rank of #40, while Octa finished with an overall rank of #47.
MultiBank Group, in operation since 2005, is home to numerous global brands and regulated in jurisdictions all over the world. A multi-asset broker, MultiBank offers forex and CFDs through the MetaTrader and cTrader platform suites (though not all markets are readily available) as well as underlying crypto assets via its regulated crypto exchange. On the negative side, the broker’s market research offering is unimpressive and educational content is entirely absent; MultiBank’s poor performance in these important categories drags down its Overall rating.
| Feature |
MultiBank
|
Octa
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 72 |
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When comparing online brokers MultiBank and Octa, MultiBank stands out for offering the ability to buy actual cryptocurrency, unlike Octa, though both platforms provide options for trading cryptocurrency derivatives.
MultiBank and Octa both support Visa, Mastercard, Skrill, and bank wires for fund deposits and withdrawals, but only MultiBank offers ACH or SEPA transfers, whereas neither broker provides a PayPal option.
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 | MultiBank | Octa | |
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| Trust Score | 84 | 72 | |
| Winner | check_circle | ||
| Review | MultiBank Review | Octa Review |
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| Regulation | MultiBank | Octa | |
|---|---|---|---|
| Trust Score | 84 | 72 | |
| Year Founded | 2005 | 2011 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 1 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 1 |
| Tier-1 Licenses (Highly Trusted) | MultiBank | Octa | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | No | 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) | MultiBank | Octa | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | MultiBank | Octa | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1042 | 300 | |
| Forex Pairs (Total) | 40 | 35 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | Yes | No | |
| 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 | MultiBank | Octa | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 0.9 | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | MultiBank | Octa | |
|---|---|---|---|
| Minimum Deposit | $50 | $25 | |
| 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 | Yes | No |
| Trading Platforms | MultiBank | Octa | |
|---|---|---|---|
| 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 | MultiBank | Octa | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 38 | 30 | |
| Charting - Drawing Tools (Total) | 17 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | MultiBank | Octa | |
|---|---|---|---|
| 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 | MultiBank | Octa | |
|---|---|---|---|
| Daily Market Commentary | No | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | MultiBank | Octa | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | Yes | |
| Client Webinars (Archived) | No | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | Yes | |
| Investor Dictionary (Glossary) | No | Yes |
| Major Forex Pairs | MultiBank | Octa | |
|---|---|---|---|
| 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 | MultiBank Review | Octa Review |
| Overall | MultiBank | Octa | |
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| Trust Score | 84 | 72 | |
| Winner | check_circle | ||
| Review | MultiBank Review | Octa Review |
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