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.
Questrade, established in 2000, and MultiBank, founded in 2005, are both well-regarded online brokers, albeit with slight differences in their regulatory standings. Neither of these platforms is publicly traded or operates as a bank. In terms of credibility, Questrade holds two Tier-1 licenses, indicating a strong level of trust, while MultiBank surpasses this with three Tier-1 licenses, further bolstering its reliability. Additionally, MultiBank holds one Tier-2 license, which is another mark of trust, while Questrade does not possess any Tier-2 licenses.
When it comes to trust ratings on ForexBrokers.com, Questrade secures an impressive Trust Score of 86 out of 99, marking it as a trusted broker. In comparison, MultiBank has a slightly lower Trust Score of 84, aligning it closely with its competitor in terms of trustworthiness. These scores suggest that both brokers are reliable, yet there are nuanced differences in their regulatory assurances and trust ratings that potential users might consider when making a choice between the two.
| Feature |
Questrade
|
MultiBank
|
|---|---|---|
| Year Founded | 2000 | 2005 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| 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 | No | No |
| ACH or SEPA Transfers | No | Yes |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Questrade and MultiBank both offer forex trading options, yet they differ greatly in the range of their investments. Questrade provides access to 641 tradeable symbols, while MultiBank surpasses this with 1042 options. Despite having fewer tradeable forex pairs, 40 compared to Questrade's 110, MultiBank stands out by offering actual cryptocurrency purchases, a service that Questrade does not provide. In contrast, Questrade allows for the purchase of exchange-traded securities on both U.S. and international exchanges, such as Apple and Vodafone shares, which MultiBank does not support.
When looking at specialized features, MultiBank offers copy trading, a feature unavailable with Questrade. Both brokers facilitate the purchase of cryptocurrency derivatives. From a ratings perspective, ForexBrokers.com ranks Questrade higher in their Range of Investments category at #11, compared to MultiBank's #37. Overall, Questrade receives a 5-star rating for its range of investments, noteworthy for those seeking a variety of tradeable options, whereas MultiBank earns a 4-star rating, reflecting its broad but slightly less diversified 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 | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | No | Yes |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers |
Dive deeper: Best Copy Trading Platforms.
Questrade and MultiBank both cater to online traders, offering a range of trading platforms and tools. Both brokers provide free virtual demo accounts, which is a crucial feature for new traders aiming to practice without financial risk. They each boast their own proprietary platforms, adding a personalized touch to their interfaces. Whether you prefer desktop or web-based access, both brokers have you covered. However, when it comes to copy trading, only MultiBank steps up to the plate. MultiBank also supports popular MetaTrader platforms (MT4 and MT5), enhancing its offering for advanced traders, while Questrade focuses on its proprietary tools and DupliTrade integration. It's worth noting that neither broker supports ZuluTrade at this time.
In terms of charting capabilities, Questrade provides 20 drawing tools, slightly more than MultiBank’s 17, but both permit trading directly from stock charts. Questrade excels in the variety of watch list options, offering 52 fields compared to MultiBank's 7. Despite these differences, both brokers receive a solid 4 out of 5-star rating for their trading platforms and tools. According to ForexBrokers.com rankings, Questrade appears higher on the list at #34, whereas MultiBank is ranked at #39 out of 63 brokers. This suggests that while each has its strengths, Questrade slightly edges out in terms of overall satisfaction in this category.
| 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 | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | Yes | No |
| ZuluTrade | No | No |
| 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, providing users with a seamless trading experience on the go. Both apps allow traders to receive stock or forex price alerts and offer the ability to draw trendlines and view multiple time frames on charts. A key distinguishing factor between the two is Questrade's feature that allows watchlists on the mobile app to sync with the client’s online account, a feature that MultiBank lacks. This could make managing your investments more convenient with Questrade, as changes made in either location are consistently updated.
When it comes to technical features, Questrade stands out by offering 64 technical studies for charting in its app, compared to MultiBank's 30. Both apps provide trendline drawing capabilities and will auto-save your chart drawings. Additionally, real-time quotes for watchlists are available in both applications. Despite these differences, both platforms are similarly rated with four out of five stars for their mobile trading apps, though Questrade ranks slightly higher at #34 compared to MultiBank's #41 among 63 brokers evaluated by ForexBrokers.com. Whether you prioritize comprehensive charting features or ease of syncing between devices, both apps provide solid options for trading on the move.
| Feature |
Questrade
|
MultiBank
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| 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 comparing market research offerings between Questrade and MultiBank, there are a few key differences and similarities to consider. Questrade excels by providing technical analysis and fundamental research tools through partnerships with Autochartist and Trading Central, which MultiBank does not offer. Additionally, Questrade includes market research from TipRanks, setting it apart as MultiBank lacks this feature. However, neither broker delivers daily market commentary or sentiment-based trading tools, creating common ground in those areas. On the other hand, MultiBank stands out by delivering forex news from top-tier sources like Bloomberg and Reuters, which is a notable advantage for those seeking well-sourced financial news, while Questrade does not offer this feature. Both brokers provide an economic calendar to keep investors informed on global events, maintaining a balance in this category.
In terms of research rankings, Questrade and MultiBank have similar ratings, each earning 3.5 stars for research, according to their evaluations. However, in a list of 63 brokers ranked by ForexBrokers.com, MultiBank holds a slightly better position at #49, compared to Questrade's #51 ranking. These rankings suggest small differences in how each company is perceived in terms of their research capabilities, but ultimately, both brokers offer a comparable level of resources for informed trading. Overall, the choice between the two may depend on the specific tools or news access a trader prioritizes. Through understanding these features, users can make a better-informed decision when selecting a broker.
| Feature |
Questrade
|
MultiBank
|
|---|---|---|
| Daily Market Commentary | No | No |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Questrade and MultiBank both offer a decent range of educational resources tailored for beginners, covering important subjects like forex and CFDs with more than ten educational materials including articles and videos. Both platforms provide over ten beginner-focused videos that discuss essential trading topics. However, neither broker hosts monthly online client webinars, which some new traders might find limiting. Additionally, neither Questrade nor MultiBank provides an investor dictionary to explain trading jargon, which could also help beginners become more familiar with investing terms.
While both brokers have some similarities in their offerings, Questrade does provide a searchable archive of previously recorded client webinars, unlike MultiBank, helping traders review past learning sessions at their own pace. When it comes to ratings, both Questrade and MultiBank receive a solid 3.5 stars for their educational offerings. In terms of rankings among 63 brokers, Questrade holds the 36th position in the education category by ForexBrokers.com, while MultiBank ranks at #50. This suggests that while both offer comparable beginner resources, Questrade edges ahead slightly in rank, thanks largely to its archive of past webinars.
| Feature |
Questrade
|
MultiBank
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | No | No |
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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Questrade does not allow the purchase of actual cryptocurrencies, only cryptocurrency derivatives, while MultiBank provides options for both actual cryptocurrencies and cryptocurrency derivatives.
When comparing online brokers Questrade and MultiBank, it is notable that while both provide options for funding and withdrawing via Visa, Mastercard, and bank wires, only MultiBank supports ACH or SEPA transfers and Skrill, whereas neither supports PayPal transactions.
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 | |
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| Regulation | Questrade | MultiBank | |
|---|---|---|---|
| Trust Score | 86 | 84 | |
| Year Founded | 2000 | 2005 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | 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) | No | Yes | |
| Canada (CIRO Authorised) | Yes | 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) | No | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | Questrade | MultiBank | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| 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 | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | No | 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 | No | No | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | Questrade | MultiBank | |
|---|---|---|---|
| Minimum Deposit | $250 | $50 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | Yes |
| Trading Platforms | Questrade | MultiBank | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| 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 | No | |
| 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 | No | No | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Questrade | MultiBank | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | No | No |
| 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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