Written by ForexBrokers.com
In this head to head comparison of Pepperstone 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.
Founded in 2010, Pepperstone stands out as a highly trusted name in the world of online brokers, securing an impressive Trust Score of 95 out of 99 according to ForexBrokers.com. Boasting three Tier-1 licenses and two Tier-2 licenses, Pepperstone provides assurance of stringent regulations and financial safety for its clients. Despite not being publicly traded or a bank, it's regarded as a secure platform for online trading.
MultiBank, established in 2005, also commands a place of trust among online brokers, with a Trust Score of 84. Holding three Tier-1 licenses and one Tier-2 license, it ensures a considerable level of protection and regulatory compliance. Like Pepperstone, MultiBank is neither publicly traded nor a banking institution, yet it maintains a respectable standing as a trusted online broker.
| Feature |
Pepperstone
|
MultiBank
|
|---|---|---|
| Year Founded | 2010 | 2005 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 3 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 3 |
Pepperstone and MultiBank are prominent choices for online trading, each offering unique advantages when it comes to commissions and fees. Pepperstone, rated 4.5 stars, is ranked #10 out of 62 brokers by ForexBrokers.com in this category. It features a competitive pricing structure with its Razor account, which caters to high-volume traders through the Active Trader program. The Razor account operates on a commission-based pricing model with platforms like TradingView, MetaTrader, and cTrader. As of July 2024, the average spread for EUR/USD is 0.10 pips with an additional commission equivalent of 0.70 pips, totaling an all-in cost of 0.80 pips, aligning closely with industry standards. In contrast, Pepperstone’s Standard account, although commission-free, bears an average spread of 1.1 pips. For active traders, Pepperstone offers rebates on spreads depending on trading volume, with better rates available for professional clients in various regions.
MultiBank, with a 4-star rating and a #38 ranking, presents three account types: Standard, Pro, and ECN. The Standard account is accessible with a $50 minimum deposit but higher spreads make it less appealing to anyone but beginners. The Pro account, with a $1,000 minimum deposit, offers relatively better spreads. The ECN account provides the most favorable spreads, coupled with a small round-trip commission of $3 per trade, but requires a steep $10,000 minimum deposit. Despite offering competitive options, MultiBank imposes a $60 monthly inactivity fee if an account remains idle for 90 days, which can add to the overall cost of trading with them.
In summary, Pepperstone delivers favorable conditions for high-volume traders through its competitive Razor account and tiered Active Trader program, with rebates benefiting professional traders in select regions. MultiBank, while offering a structured approach with varied account tiers, demands higher initial deposits for the most advantageous spreads and charges fees that may deter less active traders. Ultimately, the choice between Pepperstone and MultiBank may hinge on the trader's volume, investment capability, and preference for account structure.
| Feature |
Pepperstone
|
MultiBank
|
|---|---|---|
| Minimum Deposit | $0 | $50 |
| Average Spread EUR/USD - Standard | 1.00 | N/A |
| All-in Cost EUR/USD - Active | 0.70 | 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.
Pepperstone and MultiBank are two prominent online brokers offering opportunities in forex trading through CFDs or spot contracts. Pepperstone provides access to a significant number of tradeable symbols, totaling 1,726, while MultiBank offers 1,042. When it comes to forex pairs, Pepperstone allows trading with 65 different pairs, surpassing MultiBank's offering of 40 pairs. However, neither broker provides the option to purchase actual exchange-traded securities in the U.S. or international markets, such as shares from Apple or Vodafone.
Both Pepperstone and MultiBank support copy trading, enabling users to mirror trades from experienced investors. While neither platform facilitates the purchase of actual cryptocurrencies, both offer trading in cryptocurrency derivatives. Pepperstone is rated four stars for its range of investments and ranks 26th among 62 brokers according to ForexBrokers.com. In comparison, MultiBank also holds a four-star rating but is positioned slightly lower at 37th in the same ranking.
| Feature |
Pepperstone
|
MultiBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 1042 |
| Forex Pairs (Total) | 65 | 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) | No | 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.
Pepperstone and MultiBank offer a comprehensive range of trading platforms and tools suitable for both beginners and seasoned traders. Both brokers provide free virtual demo accounts for simulated trading, allowing users to practice their strategies risk-free. They each feature proprietary platforms along with industry staples like MetaTrader 4 and MetaTrader 5, appealing to those who prefer advanced analysis and automated trading. Both brokers also support web-based and Windows desktop platforms, giving traders flexibility in how they access markets. While Pepperstone includes copy trading through DupliTrade, MultiBank lacks this option but competes closely in other areas by offering both copy trading capabilities.
When it comes to charting and customization, Pepperstone edges slightly ahead with 30 drawing tools compared to MultiBank's 17. Both platforms allow trading directly from stock charts and offer seven columns for watch lists. However, in terms of rankings, Pepperstone secures a higher position at #22 compared to MultiBank's #39 among 62 brokers according to ForexBrokers.com. Despite the differences, both brokers receive a solid four-star rating for their trading platforms and tools, ensuring reliable and diverse trading environments for their clients.
| Feature |
Pepperstone
|
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 | Yes | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 15 | 38 |
| Charting - Drawing Tools (Total) | 30 | 17 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Pepperstone and MultiBank both offer strong mobile trading experiences for iPhone and Android users, catering to the needs of stock and forex traders. Both apps enable price alerts, trendline drawing, and the ability to view various time frames on charts. Additionally, they each provide 30 technical studies for in-depth chart analysis. Users can create watchlists with real-time quotes on both platforms. However, Pepperstone stands out with its synchronization feature, which allows watchlist updates made on its mobile app to reflect in the client's online account—an option not available with MultiBank.
When it comes to mobile app rankings, Pepperstone is rated four out of five stars and is ranked 21st out of 62 brokers by ForexBrokers.com. MultiBank also earns a four-star rating but falls behind in ranking, positioned at 41st. Both apps auto-save chart drawings, enhancing the overall user experience. While both apps are comparable in many features, Pepperstone's ability to sync watchlists provides a slight edge for traders who value seamless integration between their devices and online accounts.
| Feature |
Pepperstone
|
MultiBank
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | 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.
Pepperstone and MultiBank are two popular online brokers, each offering unique features for market research. Pepperstone excels in providing traders with comprehensive daily market commentary and top-tier forex news from renowned sources like Bloomberg and Reuters. It also stands out by offering technical analysis tools from Autochartist, alongside a sentiment-based trading tool that helps traders gauge market trends. Moreover, Pepperstone includes an economic calendar to keep traders informed on global events. In contrast, MultiBank offers reliable forex news and an economic calendar but lacks daily market commentary, as well as tools from Autochartist and sentiment-based trading options.
When assessing research capabilities, Pepperstone holds a competitive edge over MultiBank. Rated at 4.5 stars, Pepperstone ranks 12th out of 62 brokers for research according to ForexBrokers.com. Meanwhile, MultiBank, rated at 3.5 stars, stands at the 49th position. This indicates that Pepperstone's offerings in market research are more comprehensive and generally more favored by users compared to MultiBank, making it a strong choice for traders seeking detailed analytics and consistent updates. Overall, Pepperstone provides a richer array of research tools, better catering to the needs of engaged traders.
| Feature |
Pepperstone
|
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 offered by online brokers Pepperstone and MultiBank, Pepperstone clearly stands out for beginners. Both brokers provide a variety of materials like articles, videos, and archived webinars focused on forex and CFDs. However, Pepperstone takes the lead with monthly live webinars and a searchable archive of past webinars, a feature MultiBank doesn't offer. New traders can benefit significantly more from Pepperstone's extensive suite of at least ten beginner-friendly videos on trading topics, enhancing their confidence and knowledge in trading.
Pepperstone also excels in delivering content for more experienced traders, with over ten advanced educational videos, while MultiBank falls short in this area. Additionally, Pepperstone provides an investor dictionary, offering definitions for over 50 investing terms, an invaluable tool for learners, which MultiBank lacks. This comprehensive approach to education has earned Pepperstone a remarkable education rating of 4.5 stars and a 17th place ranking among 62 brokers by ForexBrokers.com, compared to MultiBank's 3.5-star rating and rank of 50th. Overall, Pepperstone presents a more appealing option for those eager to expand their trading knowledge.
| Feature |
Pepperstone
|
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 Pepperstone is better than MultiBank. Pepperstone finished with an overall rank of #16, while MultiBank finished with an overall rank of #40.
Pepperstone offers a growing range of tradeable markets, good-quality research, and support for multiple social copy trading platforms.
| Feature |
Pepperstone
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MultiBank
|
|---|---|---|
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| Trust Score | 95 | 84 |
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Pepperstone does not provide the option to buy actual delivered cryptocurrency, offering only cryptocurrency derivatives, whereas MultiBank allows users to purchase both actual delivered cryptocurrency and cryptocurrency derivatives.
Pepperstone and MultiBank both provide ACH, SEPA, Skrill, Visa, Mastercard, and bank wire options for depositing and withdrawing funds, but only Pepperstone offers the additional convenience of PayPal.
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 | Pepperstone | MultiBank | |
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| Trust Score | 95 | 84 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | MultiBank Review |
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| Regulation | Pepperstone | MultiBank | |
|---|---|---|---|
| Trust Score | 95 | 84 | |
| Year Founded | 2010 | 2005 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 3 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 3 |
| Tier-1 Licenses (Highly Trusted) | Pepperstone | MultiBank | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | Yes | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | 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) | Pepperstone | MultiBank | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Pepperstone | MultiBank | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 1042 | |
| Forex Pairs (Total) | 65 | 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) | No | 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 | Pepperstone | MultiBank | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.00 | N/A | |
| All-in Cost EUR/USD - Active | 0.70 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | 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 | Pepperstone | 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 | Yes | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Pepperstone | MultiBank | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 15 | 38 | |
| Charting - Drawing Tools (Total) | 30 | 17 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Pepperstone | MultiBank | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | 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 | Pepperstone | 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 | Pepperstone | 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 | Pepperstone | 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 | Pepperstone Review | MultiBank Review |
| Overall | Pepperstone | MultiBank | |
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| Trust Score | 95 | 84 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | MultiBank Review |
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