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 it comes to commissions and fees, both MultiBank and Octa offer competitive options for forex and CFD trading, each with unique features. MultiBank provides three account types: Standard, Pro, and ECN. The Standard account requires a $50 minimum deposit but comes with higher spreads, making it more suitable for beginners. The Pro account, which necessitates a $1,000 deposit, offers lower spreads. For the lowest spreads, the ECN account is optimal, requiring a $10,000 deposit with a $3 round-trip commission per trade. However, be aware of the $60 per month inactivity fee after 90 days of no trading. MultiBank is rated 4 stars for commissions and fees and ranked #38 among 62 brokers by ForexBrokers.com.
On the other hand, Octa has made significant strides in reducing costs and is now competitive with some of the lowest-cost MetaTrader brokers. Octa offers different account types based on the regulatory entity, with EU clients having a slightly more favorable average spread on the EUR/USD pair at 0.5 pips, compared to 0.9 pips for other regions. It's important to note that Octa's spread figures do not include a date range, which may impact their reliability. Despite this, Octa is regarded positively, sharing a 4-star rating with MultiBank for its commissions and fees. It ranks higher at #29 out of 62 brokers according to ForexBrokers.com.
In comparing the two, both MultiBank and Octa have their strengths. MultiBank caters well to traders seeking minimal commissions on high-volume trades, while Octa's improved pricing structure makes it an attractive option for cost-conscious traders seeking low spreads. Ultimately, both brokerages hold a 4-star rating for their fees, with Octa slightly ahead in the rankings due to its recent improvements in pricing models.
| 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 the variety of investments offered by MultiBank and Octa, both brokers provide forex trading as a CFD or spot contract. However, MultiBank offers a more extensive range of tradeable symbols, with 1,042 symbols available compared to Octa's 300. Similarly, for those interested in forex pairs, MultiBank offers 40 tradeable forex pairs, while Octa provides 35. Both MultiBank and Octa do not offer exchange traded securities on U.S. exchanges, but Octa sets itself apart by allowing trading of international securities, such as Vodafone shares on the London Stock Exchange, which MultiBank does not offer.
In terms of cryptocurrency options, MultiBank provides the ability to purchase both actual (delivered) cryptocurrency and cryptocurrency derivatives, whereas Octa only allows for trading in cryptocurrency derivatives. For investors interested in using copy trading features, both brokers meet this need. The range of investments offered by MultiBank earns a 4-star rating, placing it at #37 in ForexBrokers.com's rankings, while Octa holds a slightly lower 3.5-star rating, ranking #52 among 62 brokers. Overall, MultiBank provides a broader array of investment opportunities compared to Octa.
| 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 the trading platforms and tools of MultiBank and Octa, both brokers demonstrate an impressive lineup of features that empower traders with user-friendly experiences. Both platforms offer simulated or paper trading through free virtual demo accounts, allowing users to practice and refine their strategies without financial risk. Each broker has developed its proprietary platform, catering to traders looking for in-house developed solutions. Additionally, both feature Windows-based desktop platforms and web-based options for those who prefer browser trading. The inclusion of popular trading platforms like MetaTrader 4 and MetaTrader 5 is standard with both brokers, offering robust charting capabilities and a comprehensive set of tools. While neither broker supports DupliTrade or ZuluTrade, they compensate by enabling functionalities such as direct trading from stock charts and provide a healthy mix of technical indicators and drawing tools.
For traders interested in copy trading, both MultiBank and Octa offer this service, reinforcing their appeal to a wide range of trading strategies. MultiBank provides 17 drawing tools for charting, slightly more than Octa's 15, while both offer seven columns for watch lists. Ratings from ForexBrokers.com show both brokers scoring four stars for their trading platforms and tools, reflecting their solid offerings in the market. In terms of ranking, though, Octa edges slightly ahead at #37 compared to MultiBank's #39 out of 62 brokers. Both brokers deliver a comprehensive and efficient set of trading tools, suitable for novice and experienced traders alike.
| 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 comparing the mobile trading apps of MultiBank and Octa, both platforms provide a similar set of features for trading on the go. Each offers an app for both iPhone and Android users, broadening accessibility. Traders can set up stock or forex price alerts through both apps, ensuring they never miss significant market movements. Synchronization of watchlist symbols, however, is not available on either platform, so changes made won't update across devices. When it comes to charting, both brokers offer a robust array of 30 technical studies and allow you to draw trendlines and view charts in multiple time frames such as daily, weekly, and intraday. Additionally, each app has the capability to auto-save drawings on charts, which enhances user efficiency.
Real-time quotes are a click away as both MultiBank and Octa allow the creation of watchlists with current prices. Despite sharing many features, user ratings and rankings differ slightly. Both apps have garnered a respectable 4 out of 5 stars; however, Octa holds a higher spot, ranked #35, compared to MultiBank, which is positioned at #41 out of 62 brokers on ForexBrokers.com. These subtle differences might sway a prospective user depending on their priority between user experience and features.
| 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 it comes to market research offerings, MultiBank and Octa each provide unique advantages for their users. MultiBank delivers forex news from top-tier sources such as Bloomberg and Reuters, ensuring that its clients have access to high-quality information. However, MultiBank does not include daily market commentary or technical analysis tools from companies like Autochartist, which can sometimes limit traders looking for those specific features. Conversely, Octa stands out by providing daily market commentary and collaborates with Autochartist to offer technical analysis tools. Both brokers ensure their clients are informed about global events through comprehensive economic calendars.
In terms of ratings and rankings, Octa has a slight edge over MultiBank. Octa is rated at 4 stars for research by ForexBrokers.com and is ranked 26th out of 62 brokers. In contrast, MultiBank holds a 3.5-star rating and is ranked 49th. While neither broker provides research tools from Trading Central, sentiment-based trading tools, or market insights from TipRanks or Acuity Trading, Octa's higher research rating suggests a more comprehensive suite of resources, making it a popular choice among traders seeking in-depth market analysis.
| 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.
Both MultiBank and Octa provide educational resources for beginners looking to learn about forex and CFDs. Each platform offers a variety of educational materials, including at least 10 beginner-focused videos. However, while MultiBank and Octa both cater to new traders with accessible content, there are noticeable differences in their offerings. MultiBank does not host regular client webinars or provide a searchable archive of recorded sessions. In contrast, Octa not only offers monthly online webinars but also maintains an easily accessible archive of these sessions, which can be incredibly beneficial for students seeking to learn at their own pace. Furthermore, Octa provides a comprehensive investor dictionary with over 50 investing terms, which can be a valuable tool for users new to trading terminology.
In terms of catering to more experienced traders, Octa has a distinct edge, offering at least 10 advanced educational videos, a feature MultiBank lacks. According to ratings on ForexBrokers.com, Octa surpasses MultiBank in the education category, receiving a 4-star rating compared to MultiBank's 3.5 stars. Octa also ranks higher among brokers, positioned at #42 out of 62, while MultiBank trails at #50. These distinctions highlight Octa as a preferable choice for learners seeking comprehensive educational resources, especially those looking for structured, ongoing learning opportunities.
| 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 62 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
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Octa
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|---|---|---|
| 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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