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 offer distinct structures for commissions and fees, catering to different types of traders. Pepperstone stands out with a 4.5-star rating for its competitive pricing on the Razor account, especially when aligned with the Active Trader program for high-volume traders. This account, compatible with TradingView, MetaTrader, and cTrader platforms, averages a 0.10 pip spread on EUR/USD, with commissions increasing the all-in cost to a close-to-industry-average of 0.80 pips. Conversely, the commission-free Standard account at Pepperstone features a higher average spread of 1.1 pips on the EUR/USD, making it a pricier option compared to the Razor account.
The Active Trader program at Pepperstone offers spread rebates based on trading volume. In the UK and EU, rebates start at 15% for those trading at least £20 million per month, rising to 25% for volumes over £200 million. In Australia, professional clients trading over 100 lots in three months qualify for a 10% rebate, which can reach 30% with trading volumes exceeding 3001 lots monthly. Pepperstone is ranked #10 out of 63 brokers in the Commissions and Fees category by ForexBrokers.com.
Conversely, MultiBank provides three distinct account types: Standard, Pro, and ECN, each with different minimum deposit requirements and spreads. The Standard account is accessible with a $50 deposit but has higher spreads, potentially suiting complete novices. The Pro account requires a $1,000 deposit and offers more favorable spreads. The ECN account, demanding a $10,000 deposit, provides the lowest spreads with a $3 round-trip commission per trade. MultiBank also charges a $60 monthly inactivity fee if no trades occur within 90 days. With a 4-star rating for fees, MultiBank is ranked #38 out of 63 brokers by ForexBrokers.com.
| 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 both provide forex trading options as CFDs, with Pepperstone offering a wider array of tradeable symbols at 1726 compared to MultiBank's 1042. When it comes to forex pairs, Pepperstone again takes the lead with 65 pairs, whereas MultiBank provides 40. Both brokers do not offer exchange-traded securities on U.S. or international exchanges, meaning you can’t directly purchase shares like Apple or Vodafone through them. However, clients can engage in copy trading on both platforms, broadening their investment strategies by mimicking experienced investors.
In the realm of cryptocurrency, Pepperstone and MultiBank both allow trading of cryptocurrency derivatives, although only MultiBank provides the option to buy actual cryptocurrencies. Both brokers are awarded four stars in the range of investments category, albeit Pepperstone is ranked higher at #26 by ForexBrokers.com, compared to MultiBank's #37. While both brokers share similarities in investment offerings, Pepperstone tends to provide more diverse options, especially in forex pairs and overall tradeable symbols.
| 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.
When comparing trading platforms and tools, both Pepperstone and MultiBank offer valuable features to enhance your trading experience. Both brokers provide free virtual demo accounts, allowing traders to practice strategies without financial risk. They each offer proprietary platforms developed in-house, alongside the popular MetaTrader 4 and MetaTrader 5 options. Both platforms support Windows-based downloads and browser-based platforms, giving users flexibility. Additionally, both brokers offer copy trading and the ability to trade directly from stock charts. However, Pepperstone stands out by offering DupliTrade, although neither broker supports ZuluTrade.
When it comes to charting tools, Pepperstone provides 30 drawing tools compared to MultiBank's 17, which might appeal to traders who value detailed chart analysis. Both brokers offer seven columns for watch lists. In terms of overall ratings, both Pepperstone and MultiBank are rated four out of five stars for their trading platforms and tools. However, Pepperstone holds a higher ranking of 22nd among 63 brokers as per ForexBrokers.com, outperforming MultiBank, which is ranked 39th. These differences might help traders decide which broker better aligns with their trading needs.
| 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.
When comparing the mobile trading apps of Pepperstone and MultiBank, both brokers cater to iPhone and Android users, offering apps that facilitate trading on the go. They both provide stock and forex price alerts, and users can draw trendlines on charts while viewing multiple time frames such as daily, weekly, or intraday. However, a significant distinction is noted in watchlist syncing capabilities; Pepperstone's app allows watchlist symbols to sync with the client's online account, ensuring seamless updates across platforms. On the other hand, MultiBank lacks this feature, which may be a consideration for traders who value synchronization and unified account management.
Charting capabilities are robust in both apps, with each offering 30 technical studies and auto-saving functions for chart drawings. Traders looking for real-time market monitoring will appreciate the real-time quote watchlist functionality present in both applications. Despite these similarities, Pepperstone edges ahead in rankings, being placed at #21 out of 63 brokers for mobile trading apps by ForexBrokers.com, while MultiBank is ranked at #41. Both apps receive a similar user rating of four stars out of five, indicating satisfaction among their users. Pepperstone's slightly better integration features may appeal to those prioritizing seamless syncing across devices.
| 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.
When comparing Pepperstone and MultiBank for market research options, Pepperstone clearly leads in several areas. Pepperstone provides daily market commentary and a suite of tools beneficial for traders, such as access to forex news from top-tier sources like Bloomberg and Reuters. They also offer tools from Autochartist for technical analysis and a sentiment-based trading feature that reveals the ratio of long or short positions across various instruments. Furthermore, Pepperstone includes an economic calendar tracking global news events. On the other hand, MultiBank, while offering forex news from reputable sources and an economic calendar, lacks daily market commentary, Autochartist tools, and sentiment-based trading resources.
These distinctions are reflected in their research ratings and rankings. Pepperstone enjoys a strong research rating of 4.5 stars and is positioned at #12 in the Research category by ForexBrokers.com out of 63 brokers. In contrast, MultiBank holds a research rating of 3.5 stars, ranking at a lower #49. This significant difference highlights Pepperstone as a more comprehensive choice for those prioritizing in-depth market insights and tools. Overall, Pepperstone's offerings place it ahead in providing resources that can enhance trading decisions.
| 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 it comes to educational resources for beginners, Pepperstone stands out significantly. They offer a comprehensive collection of over 10 educational materials, including articles and videos centered around forex and CFDs. Not only do they provide over ten beginner-focused trading videos, but they also cater to experienced traders with advanced content. Pepperstone hosts monthly webinars that are beneficial for clients and maintains a searchable archive of past webinars. Additionally, they offer an extensive investor dictionary with over 50 term definitions, enriching the learning experience. With a strong rating of 4.5 stars in education, Pepperstone holds the 17th rank among 63 brokers reviewed on ForexBrokers.com.
On the other hand, MultiBank also provides a variety of over ten educational pieces for those new to forex and CFDs. They offer a sufficient number of beginner-focused videos, yet they lack the advanced trading materials that could benefit more experienced traders. Unlike Pepperstone, MultiBank does not offer monthly webinars or an archive of past recorded sessions, which could limit learning opportunities for users seeking ongoing education. Their educational resources do not include an investor dictionary with essential terminology, marking a potential gap for newcomers. As a result, MultiBank holds a 3.5-star rating in education, placing them at rank 50 out of 63 brokers in the ForexBrokers.com review.
| 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 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 |
Pepperstone
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MultiBank
|
|---|---|---|
| Overall Rating |
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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 |
| 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) | 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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