Written by ForexBrokers.com
In this head to head comparison of Questrade 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 2000, Questrade is a well-regarded online broker, although it is not a publicly traded company or a bank. When it comes to regulatory oversight, Questrade holds two Tier-1 licenses, which are considered highly trusted according to ForexBrokers.com. Despite lacking Tier-2 licenses, the broker maintains a solid Trust Score of 86, indicating a trusted level of security and reliability for online trading activities.
MultiBank, established in 2005, is also not publicly traded nor is it a bank. The broker is more diversified in its regulatory approach, holding three Tier-1 licenses and one Tier-2 license, confirming its commitment to compliance and trustworthiness. MultiBank has a ForexBrokers.com Trust Score of 84, placing it within the trusted category. Although slightly lower than Questrade's score, MultiBank's regulatory licenses reflect a strong emphasis on maintaining a trusted trading environment.
| Feature |
Questrade
|
MultiBank
|
|---|---|---|
| Year Founded | 2000 | 2005 |
| Publicly Traded (Listed) | ||
| Bank | ||
| Tier-1 Licenses | 2 | 3 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 3 |
When comparing online brokers Questrade and MultiBank, there are notable differences in their commissions and fees. Questrade is known for having a higher target spread on the EUR/USD at 1.9 pips, which is above the industry average, resulting in a rating of 3 out of 5 stars for its commissions and fees. In this category, Questrade ranks 58th out of 63 brokers according to ForexBrokers.com.
On the other hand, MultiBank offers a more diverse range of account types for forex and CFD trading. Their Standard account has a low minimum deposit of $50 but comes with comparatively higher spreads, which might not be ideal for most traders. The Pro account, with a $1,000 minimum, offers better spreads. MultiBank's ECN account provides the best spreads with a $10,000 minimum deposit and a $3 round-trip commission per trade. MultiBank scores 4 out of 5 stars for commissions and fees, and it holds a more favorable position, ranked 38th out of 63 brokers.
It's important to consider non-trading fees when choosing an online broker. MultiBank Group charges an inactivity fee of $60 per month after 90 days of no trading activity. This fee could impact infrequent traders, making it essential to weigh the options when looking at these two brokers.
| Feature |
Questrade
|
MultiBank
|
|---|---|---|
| Minimum Deposit | $250 | $50 |
| Average Spread EUR/USD - Standard | N/A | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | ||
| ACH or SEPA Transfers | Yes | |
| PayPal (Deposit/Withdraw) | ||
| Skrill (Deposit/Withdraw) | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing Questrade and MultiBank in terms of available investment options, both online brokers stand out with unique offerings. Questrade provides a diverse selection of 641 tradeable symbols, including an impressive 110 forex pairs. This gives traders ample variety to explore various markets. Furthermore, Questrade allows access to exchange-traded securities in the U.S. and international exchanges, enabling investors to purchase shares like Apple and Vodafone directly. Additionally, Questrade supports cryptocurrency derivatives, offering more flexibility for those interested in digital currencies.
On the other hand, MultiBank excels in the number of tradeable symbols, boasting 1042 options, but it offers a smaller selection of 40 forex pairs. While MultiBank does not provide direct access to exchange-traded U.S. and international securities, it distinguishes itself with the option to buy actual cryptocurrencies. MultiBank also offers features like copy trading, appealing to traders interested in mirroring the trades of accomplished investors. Although both brokers receive high marks for their range of investments, Questrade is rated five stars and ranks #11 among brokers, whereas MultiBank is rated four stars and ranks #37, highlighting Questrade's slightly broader investment offerings.
| Feature |
Questrade
|
MultiBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 641 | 1042 |
| Forex Pairs (Total) | 110 | 40 |
| U.S. Stock Trading (Non CFD) | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | |
| Social Trading / Copy Trading | Yes | |
| Cryptocurrency (Physical) | Yes | |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers |
Dive deeper: Best Copy Trading Platforms.
When comparing trading platforms and tools offered by Questrade and MultiBank, both options provide users with strong features. Each broker offers its own proprietary platform, a Windows-based desktop download, and a web-based trading platform. Traders will appreciate that both Questrade and MultiBank provide free virtual demo accounts, allowing users to practice their trading strategies risk-free. However, MultiBank offers the MetaTrader 4 and 5 platforms, which are popular among forex traders for their advanced tools and extensive community support, while Questrade does not offer either platform. Both brokers facilitate trading directly from stock charts, with Questrade providing a slightly wider range of drawing tools at 20 compared to MultiBank's 17. When it comes to creating watch lists, Questrade stands out with the ability to create lists with 52 columns, surpassing MultiBank's 7.
Despite these differences, both brokers are similarly rated at 4 stars for their trading platforms and tools. However, in rankings by ForexBrokers.com, Questrade is placed slightly ahead at #34 compared to MultiBank's #39 out of 63 brokers. MultiBank gets an edge with its support for copy trading, a feature some traders may find appealing, while Questrade offers DupliTrade. Ultimately, the choice between these two would depend largely on individual trading platform preferences and specific feature needs, with Questrade catering more towards detailed watch lists and drawing tools, and MultiBank offering broader platform compatibility with MetaTrader support.
| Feature |
Questrade
|
MultiBank
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | |
| MetaTrader 4 (MT4) | Yes | |
| MetaTrader 5 (MT5) | Yes | |
| DupliTrade | Yes | |
| ZuluTrade | ||
| Charting - Indicators / Studies (Total) | 64 | 38 |
| Charting - Drawing Tools (Total) | 20 | 17 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 52 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Questrade and MultiBank offer mobile trading apps for iPhone and Android devices, providing users with convenient access to the markets on the go. Both apps feature essential tools like stock or forex price alerts and the ability to draw trendlines and view multiple time frames on charts. While they share these core features, Questrade stands out with the ability to sync watchlist symbols between its mobile app and online account, which is not available on MultiBank's app. Furthermore, Questrade offers a more extensive selection of 64 technical studies for charting compared to MultiBank's 30, offering a richer analysis experience for its users.
When it comes to saving work, both platforms allow auto-saving of drawings on charts, ensuring users' efforts are preserved across sessions. Real-time quotes for custom watchlists are available with both apps, aiding informed decision-making. In terms of user ratings, both apps receive 4 out of 5 stars for their performance. However, Questrade holds a slightly higher ranking at #34, according to ForexBrokers.com’s evaluation of 63 brokers, while MultiBank follows at #41. This suggests that while both apps are competitive, Questrade might offer a slightly enhanced mobile trading experience based on available tools and user ratings.
| Feature |
Questrade
|
MultiBank
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | |
| Mobile Charting - Indicators / Studies | 64 | 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, Questrade and MultiBank offer different strengths for online traders. Both provide traders with an economic calendar that showcases current and upcoming global news events, which helps in monitoring worldwide economic developments. However, when it comes to accessing forex news from top-tier sources like Bloomberg or Reuters, MultiBank takes the edge as Questrade does not offer this feature. Conversely, Questrade shines in providing technical analysis tools from companies like Autochartist and Trading Central, which are absent from MultiBank’s offerings. Additionally, Questrade includes market research from TipRanks, further enhancing its appeal for investors who value detailed analysis and insights.
Neither Questrade nor MultiBank offer daily market commentary, sentiment-based trading tools, or research tools from Acuity Trading such as Signal Centre, narrowing their research impact in these areas. Despite these gaps, both brokers have achieved the same research rating of 3.5 out of five stars. Yet, according to ForexBrokers.com, MultiBank holds a slightly better position, ranked at #49 compared to Questrade’s #51 among 63 brokers. These rankings reveal that while both platforms offer valuable resources, investors might experience varying levels of satisfaction based on their specific needs for market news and analytical tools.
| Feature |
Questrade
|
MultiBank
|
|---|---|---|
| Daily Market Commentary | ||
| Forex News (Top-Tier Sources) | Yes | |
| Autochartist | Yes | |
| Trading Central (Recognia) | Yes | |
| Social Sentiment - Currency Pairs | ||
| TipRanks | Yes | |
| Signal Centre (Acuity Trading) | ||
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Both Questrade and MultiBank provide a solid foundation for beginners keen on exploring the world of forex and CFD trading with an assortment of educational materials. Both platforms offer more than ten pieces of content, including articles, videos, and archived webinars focusing primarily on forex or CFDs, catering to those new to the trading scene. Furthermore, both brokers meet the needs of novice traders by supplying at least ten beginner-friendly videos that cover a range of essential trading topics.
While they both boast a 3.5-star rating for their educational offerings, Questrade edges slightly ahead in the ForexBrokers.com education ranking, sitting at 36th out of 63 brokers compared to MultiBank’s 50th place. One significant advantage of Questrade is its searchable archive of recorded webinars, offering users the flexibility to learn at their own pace. However, both brokers lack regular online client webinars and advanced educational videos as well as investor dictionaries, indicating room for growth in catering to more experienced traders and expanding essential trading knowledge.
| Feature |
Questrade
|
MultiBank
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | ||
| Client Webinars (Archived) | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | ||
| Investor Dictionary (Glossary) |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Questrade is better than MultiBank. Questrade finished with an overall rank of #32, while MultiBank finished with an overall rank of #40.
Regulated in both the U.S. and Canada, Questrade is a trusted full-service multi-asset broker now offering forex and CFDs alongside its stock trading services for active and passive investors. While its scope of educational resources and in-house research is limited, Questrade has an impressive platform lineup.
| Feature |
Questrade
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MultiBank
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 84 |
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While Questrade allows you to purchase cryptocurrency derivatives but not the actual delivered cryptocurrency, MultiBank provides the option to buy both actual delivered cryptocurrencies and cryptocurrency derivatives.
Questrade and MultiBank both support Visa, Mastercard, and bank wire transfers for deposits and withdrawals, but only MultiBank accepts ACH, SEPA, and Skrill, while neither offers PayPal as a payment 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 | Questrade | MultiBank | |
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| Trust Score | 86 | 84 | |
| Winner | check_circle | ||
| Review | Questrade Review | MultiBank Review |
| Broker Screenshots | Questrade | MultiBank | |
|---|---|---|---|
| Broker Gallery (click to expand) |
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| Regulation | Questrade | MultiBank | |
|---|---|---|---|
| Trust Score | 86 | 84 | |
| Year Founded | 2000 | 2005 | |
| Publicly Traded (Listed) | |||
| Bank | |||
| Regulated in one or more EU or EEA countries (MiFID). | Yes | ||
| Tier-1 Licenses | 2 | 3 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 3 |
| Tier-1 Licenses (Highly Trusted) | Questrade | MultiBank | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | ||
| Canada (CIRO Authorised) | Yes | ||
| Hong Kong (SFC Authorised) | |||
| Japan (SFC Authorised) | |||
| Singapore (MAS Authorised) | Yes | ||
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | |||
| USA (CFTC Authorized) | |||
| New Zealand (FMA Authorised) | |||
| Regulated in one or more EU or EEA countries (MiFID). | Yes |
| Tier-2 Licenses (Trusted) | Questrade | MultiBank | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | |||
| South Africa (FSCA Authorised) | |||
| UAE (DFSA/Central Bank Authorised) | Yes | ||
| India (SEBI Authorised) | |||
| Jordan (JSC Authorised) |
| Investments | Questrade | MultiBank | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 641 | 1042 | |
| Forex Pairs (Total) | 110 | 40 | |
| U.S. Stock Trading (Non CFD) | Yes | ||
| Int'l Stock Trading (Non CFD) | Yes | ||
| Social Trading / Copy Trading | Yes | ||
| Cryptocurrency (Physical) | Yes | ||
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers |
| Cost | Questrade | MultiBank | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | |||
| Inactivity Fee | Yes | ||
| Execution: Agency Broker | Yes | ||
| Execution: Market Maker | Yes |
| Funding | Questrade | MultiBank | |
|---|---|---|---|
| Minimum Deposit | $250 | $50 | |
| PayPal (Deposit/Withdraw) | |||
| Skrill (Deposit/Withdraw) | Yes | ||
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes |
| Trading Platforms | Questrade | MultiBank | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | ||
| MetaTrader 4 (MT4) | Yes | ||
| MetaTrader 5 (MT5) | Yes | ||
| cTrader | |||
| DupliTrade | Yes | ||
| ZuluTrade |
| Trading Tools | Questrade | MultiBank | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 52 | 7 | |
| Charting - Indicators / Studies (Total) | 64 | 38 | |
| Charting - Drawing Tools (Total) | 20 | 17 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Questrade | MultiBank | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | ||
| Mobile Charting - Indicators / Studies | 64 | 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 | Questrade | MultiBank | |
|---|---|---|---|
| Daily Market Commentary | |||
| Forex News (Top-Tier Sources) | Yes | ||
| Autochartist | Yes | ||
| Trading Central (Recognia) | Yes | ||
| TipRanks | Yes | ||
| Social Sentiment - Currency Pairs | |||
| Economic Calendar | Yes | Yes |
| Education | Questrade | MultiBank | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | |||
| Client Webinars (Archived) | Yes | ||
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | |||
| Investor Dictionary (Glossary) |
| Major Forex Pairs | Questrade | 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 | Questrade Review | MultiBank Review |
| Overall | Questrade | MultiBank | |
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| Trust Score | 86 | 84 | |
| Winner | check_circle | ||
| Review | Questrade Review | MultiBank Review |
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