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 take different approaches to trading costs. Pepperstone’s Razor account combines low spreads with a commission: the EUR/USD averaged 0.10 pips, and when you add the commission-equivalent of 0.70 pips, the all-in cost is about 0.80 pips (near the industry average). Pepperstone’s Standard account is commission-free but wider at about 1.1 pips. MultiBank offers three choices: Standard (higher spreads, $50 minimum deposit), Pro (lower spreads, $1,000 minimum), and ECN (tightest spreads, $10,000 minimum) that charges a $3 round-trip commission per trade. Note: MultiBank also charges a $60 monthly inactivity fee after 90 days without trading.
Active traders may find Pepperstone especially appealing thanks to its volume-based discounts. The Active Trader program rebates part of the spread based on your monthly volume. In the U.K. and EU, Professional clients can receive 15% to 25% spread rebates per lot starting from £20 million in monthly forex volume. In Australia, Professional clients can qualify for 10% to 30% spread reductions across tiers beginning at 100 lots over three months. These rebates can make Razor meaningfully cheaper than Pepperstone’s Standard pricing for high-volume traders.
Bottom line: if you trade frequently and can tap volume rebates, Pepperstone can deliver strong value, while MultiBank’s ECN account suits traders who prefer a commission model and can meet the higher deposit—just watch the inactivity fee. For Commissions and Fees, Pepperstone is rated 4.5/5 stars and ranks #11 out of 63 brokers, while MultiBank is rated 4/5 stars and ranks #39 out of 63.
| Feature |
Pepperstone
|
MultiBank
|
|---|---|---|
| Minimum Deposit | $0 | $50 |
| Average spread (EUR/USD) - Standard account | 1.00 | N/A |
| All-in Cost EUR/USD - Active | 0.70 | N/A |
| Non-wire bank transfer | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | |
| Skrill (Deposit/Withdraw) | No | |
| Bank Wire (Deposit/Withdraw) | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Pepperstone vs MultiBank: both brokers offer forex trading via CFDs or spot, plus copy trading. Pepperstone provides a wider selection overall with 1,726 tradeable symbols and 65 forex pairs, compared with MultiBank’s 1,042 symbols and 40 pairs. Neither broker offers direct share dealing on U.S. or international stock exchanges (non-CFD shares). For crypto, both support cryptocurrency CFDs, while only MultiBank also lets you buy actual, delivered crypto.
In the Range of Investments category, both receive 4 out of 5 stars from ForexBrokers.com. Pepperstone ranks higher at #27 out of 63 brokers, versus MultiBank at #38, likely thanks to its larger symbol list and greater number of forex pairs.
| Feature |
Pepperstone
|
MultiBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 1042 |
| Forex Pairs (Total) | 65 | 40 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | No | No |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | No | 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.
Pepperstone and MultiBank both check the key boxes for trading platforms and tools. Each provides a free demo (paper trading) account, a proprietary platform alongside MetaTrader 4 (MT4) and MetaTrader 5 (MT5), and access via a Windows desktop download or a web-based platform. Both brokers support copy trading and let you place orders directly from the chart, which makes it easy to go from analysis to execution.
When it comes to third-party evaluations, both earn 4 stars for Trading Platforms and Tools, but Pepperstone ranks higher with ForexBrokers.com (#22 out of 63) compared with MultiBank (#40 out of 63). That may hint at a slight edge for Pepperstone in this category, though your best fit can still come down to platform feel and the features you use most. Specific counts for built-in indicators and watchlist columns weren’t provided.
| Feature |
Pepperstone
|
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) | 15 | 38 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Pepperstone and MultiBank both deliver iPhone and Android trading apps with similar core tools. Each app offers price alerts for forex and stocks, includes 30 technical studies, supports drawing trendlines, and automatically saves your chart annotations.
The main difference is watchlist syncing: Pepperstone syncs your watchlists between mobile and your online account, while MultiBank does not. Both earn 4 out of 5 stars for mobile trading apps, but Pepperstone ranks higher on ForexBrokers.com (#21 of 63) than MultiBank (#42 of 63). If keeping watchlists aligned across devices is important, Pepperstone has the edge; otherwise, their mobile features are largely comparable.
| Feature |
Pepperstone
|
MultiBank
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | 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.
Pepperstone stands out for market research by providing daily commentary, while MultiBank does not. Both brokers stream forex news from top-tier sources like Bloomberg, Reuters, or Dow Jones, and both include an economic calendar. Pepperstone adds technical analysis support with Autochartist and offers a sentiment tool showing long/short positioning—features MultiBank lacks. Neither broker uses Trading Central or TipRanks, and Pepperstone does not integrate Acuity Trading tools.
Ratings reflect these differences: Pepperstone earns 4.5 out of 5 stars for Research and ranks #12 of 63 brokers at ForexBrokers.com, whereas MultiBank scores 3.5 stars and ranks #50. If you want daily insights plus built-in tools like Autochartist and sentiment data, Pepperstone is the stronger pick; if you mainly need quality news feeds and an economic calendar, both can fit the bill.
| Feature |
Pepperstone
|
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.
Pepperstone and MultiBank both offer forex and CFD education that meets a basic library size (at least 10 pieces). For beginners, each broker has 10+ starter videos that explain trading topics in plain language. Pepperstone goes further with monthly live webinars and a full set of 10+ advanced videos to help you grow beyond the basics. MultiBank does not run monthly educational webinars and does not provide a comparable advanced video library, making it better suited to getting started than to developing intermediate or advanced skills.
These differences show up in the ratings: Pepperstone earns 4.5 out of 5 stars for Education and ranks 17th out of 63 brokers at ForexBrokers.com, while MultiBank scores 3.5 stars and ranks 50th. If you want live learning and room to advance, Pepperstone is the stronger pick; if you only need a beginner video library to learn the basics of forex and CFDs, MultiBank can cover that need.
| Feature |
Pepperstone
|
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 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 |
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MultiBank
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| Trust Score | 95 | 84 |
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Pepperstone vs MultiBank: both online brokers offer cryptocurrency CFD trading, but only MultiBank allows buying actual (delivered) cryptocurrencies, whereas Pepperstone does not.
Pepperstone vs. MultiBank deposit and withdrawal methods compared: Pepperstone supports ACH/SEPA, PayPal, and bank wire transfers but not Skrill, while MultiBank also supports ACH/SEPA; MultiBank’s availability of PayPal, Skrill, Visa/Mastercard, and bank wires—and Pepperstone’s Visa/Mastercard support—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 | Pepperstone | MultiBank | |
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| Trust Score | 95 | 84 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | MultiBank Review |
| Broker Screenshots | Pepperstone | MultiBank | |
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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) | |||
| 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 | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | Pepperstone | MultiBank | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 1042 | |
| Forex Pairs (Total) | 65 | 40 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | No | No | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | No | 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 | Pepperstone | MultiBank | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.00 | N/A | |
| All-in Cost EUR/USD - Active | 0.70 | N/A | |
| Inactivity Fee | No | Yes | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | MultiBank | |
|---|---|---|---|
| Minimum Deposit | $0 | $50 | |
| PayPal (Deposit/Withdraw) | Yes | ||
| Skrill (Deposit/Withdraw) | No | ||
| Bank Wire (Deposit/Withdraw) | Yes | ||
| Non-wire bank transfer | Yes | Yes |
| Trading Platforms | Pepperstone | 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 | Yes | No |
| Trading Tools | Pepperstone | MultiBank | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 15 | 38 | |
| 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 Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | 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 | Pepperstone | 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 | Pepperstone | MultiBank | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | Pepperstone | MultiBank | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| 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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