Written by ForexBrokers.com
In this head to head comparison of Saxo 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.
When comparing online brokers Saxo and MultiBank, it's essential to consider their trustworthiness and regulatory status. Saxo, established in 1992, is a bank and holds the highest possible Trust Score rating of 99 from ForexBrokers.com, indicating it is highly trustworthy. This is backed by Saxo's possession of seven Tier-1 licenses, regarded as highly trusted, and one Tier-2 license. On the other hand, MultiBank, founded in 2005, is not a bank and has a Trust Score of 84, placing it in the "trusted" category. MultiBank holds three Tier-1 licenses and one Tier-2 license, demonstrating a reliable, though not as extensive, regulatory framework compared to Saxo.
| Feature |
Saxo
|
MultiBank
|
|---|---|---|
| Year Founded | 1992 | 2005 |
| Publicly Traded (Listed) | No | No |
| Bank | Yes | No |
| Tier-1 Licenses | 7 | 3 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 3 |
Saxo and MultiBank both keep trading costs competitive, but they take different paths. Saxo shines for active and high‑balance traders, earning 5 stars for commissions and fees and ranking #9 out of 63 brokers by ForexBrokers.com. MultiBank is more middle of the pack with 4 stars and a #39 ranking, offering low entry requirements but reserving its best pricing for higher‑tier accounts.
Saxo’s forex pricing is spread‑only (no commission) with one caveat: traders doing less than 50,000 units per month pay a $3 per side ticket fee. As of November 2023, average EUR/USD spreads were 1.1 pips (Classic), 1.0 pips (Platinum), and 0.9 pips (VIP), with minimums about 0.2 pips lower. The Classic account now has a $0 minimum deposit; Platinum requires $200,000 (AUD 300,000 in Australia for forex) or an upgrade via loyalty points; VIP requires $1,000,000 or significant trading volume (about $167 million in forex for a 1‑year upgrade). Saxo also waives custody fees for share trading if you opt into securities lending.
MultiBank offers three choices: Standard ($50 minimum, higher spreads), Pro ($1,000 minimum, lower spreads), and ECN ($10,000 minimum) with the tightest spreads plus a small $3 round‑trip commission per trade. Note the non‑trading fee: $60 per month if your account is inactive for 90 days. In short, Saxo’s higher‑tier accounts can deliver very competitive all‑in costs without per‑trade commissions, while MultiBank’s ECN route may appeal if you prefer paying a small commission in exchange for tighter spreads.
| Feature |
Saxo
|
MultiBank
|
|---|---|---|
| Minimum Deposit | $0 | $50 |
| Average spread (EUR/USD) - Standard account | 1.1 | N/A |
| All-in Cost EUR/USD - Active | 0.9 | N/A |
| Non-wire bank transfer | No | Yes |
| PayPal (Deposit/Withdraw) | No | |
| Skrill (Deposit/Withdraw) | No | |
| Bank Wire (Deposit/Withdraw) | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Saxo and MultiBank both let you trade forex as CFDs or spot, and both support copy trading. Where they differ is depth: Saxo lists about 70,000 tradeable instruments and 190 forex pairs, while MultiBank offers 1,042 instruments and 40 forex pairs. Saxo also lets you buy real, exchange-traded shares on U.S. and international exchanges, which MultiBank does not offer.
For crypto, Saxo provides exposure via CFDs only, whereas MultiBank lets you buy actual cryptocurrencies as well as crypto CFDs. Overall, Saxo earns 5/5 stars and ranks #3 out of 63 brokers for range of investments, compared with MultiBank’s 4/5 stars and #38 ranking. If you want the widest selection of markets and real stock trading, Saxo stands out; if buying actual crypto matters most, MultiBank has the edge.
| Feature |
Saxo
|
MultiBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 1042 |
| Forex Pairs (Total) | 190 | 40 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | 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.
Saxo vs MultiBank: Both online brokers provide free demo accounts for paper trading, proprietary platforms, and Windows desktop and web-based trading. Each supports copy trading and lets you place orders directly from charts. The key difference is third-party platform support: MultiBank offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while Saxo does not.
For platform quality, ForexBrokers.com rates Saxo 5 stars and ranks it #1 out of 63 brokers for Trading Platforms and Tools, while MultiBank earns 4 stars and ranks #40. In short, choose Saxo for top-ranked in-house platforms and tools, or pick MultiBank if MT4/MT5 access is a must.
| Feature |
Saxo
|
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) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 64 | 38 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Saxo and MultiBank both deliver mobile trading apps for iPhone and Android, and each supports price alerts for stocks and forex. Charting essentials are covered on both apps, including the ability to draw trendlines and have your drawings auto-save. The big differences show up in convenience and depth: Saxo syncs your watchlists between the mobile app and your online account (MultiBank does not), and Saxo offers 64 technical studies for charting compared with 30 on MultiBank. If you value more indicators and seamless watchlist syncing across devices, Saxo stands out.
Independent ratings back this up. ForexBrokers.com rates Saxo’s mobile trading app 5 out of 5 stars and ranks it #2 out of 63 brokers, while MultiBank earns 4 out of 5 stars and ranks #42. In short, both apps cover the basics well, but Saxo is the better pick for traders who want deeper chart analysis and synchronized watchlists, whereas MultiBank suits those who need a straightforward app with alerts and core chart tools.
| Feature |
Saxo
|
MultiBank
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Saxo clearly outperforms MultiBank for market research. Saxo is rated 5 stars and ranked #1 out of 63 brokers by ForexBrokers.com, while MultiBank holds 3.5 stars and ranks #50. Saxo delivers daily market commentary and streams forex news from top-tier sources (like Bloomberg, Reuters, or Dow Jones). MultiBank also provides news from leading outlets, and both brokers include an economic calendar to track key events.
When it comes to trading tools, Saxo offers Autochartist for technical and fundamental analysis and includes a sentiment tool that shows the ratio of long vs. short positions—features MultiBank does not provide. Neither broker offers Trading Central or TipRanks. If you want daily commentary plus deeper, built-in tools for analysis and sentiment, Saxo is the stronger pick; if you mainly need quality news and a calendar, MultiBank covers the basics.
| Feature |
Saxo
|
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.
Saxo vs. MultiBank for beginner education: both brokers provide at least 10 beginner-friendly trading videos to help you learn the basics of forex and CFD trading. Saxo adds monthly educational webinars, giving newcomers a chance to ask questions in real time, and it also offers 10+ advanced videos for when you’re ready to go deeper. MultiBank does not host monthly client webinars and doesn’t have the same depth for advanced videos. Reflecting this difference, ForexBrokers.com rates Saxo 5 stars for Education and ranks it #13 out of 63 brokers, while MultiBank earns 3.5 stars and ranks #50.
If you want live classes plus a clear path from beginner to advanced topics, Saxo is the stronger pick. If you mainly need starter videos and plan to learn at your own pace without live sessions, MultiBank can cover the basics, but it trails Saxo on overall depth and live support for learners.
| Feature |
Saxo
|
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 Saxo is better than MultiBank. Saxo finished with an overall rank of #3, while MultiBank finished with an overall rank of #40.
Saxo is an exclusive multi-asset broker with brilliant research and a superb trading platform experience – as well as a stunning selection of over 40,000 securities.
| Feature |
Saxo
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MultiBank
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|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 84 |
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Comparing Saxo vs MultiBank, only MultiBank lets you buy actual delivered cryptocurrency, while both brokers support trading cryptocurrency CFDs.
Saxo vs MultiBank for deposits and withdrawals: Saxo supports bank wire transfers and does not support ACH/SEPA, PayPal, or Skrill (Visa/Mastercard not specified), while MultiBank supports ACH/SEPA with PayPal, Skrill, Visa/Mastercard, and bank wire availability 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 | Saxo | MultiBank | |
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| Trust Score | 99 | 84 | |
| Winner | check_circle | ||
| Review | Saxo Review | MultiBank Review |
| Broker Screenshots | Saxo | MultiBank | |
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| Regulation | Saxo | MultiBank | |
|---|---|---|---|
| Trust Score | 99 | 84 | |
| Year Founded | 1992 | 2005 | |
| Publicly Traded (Listed) | No | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 3 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 3 |
| Tier-1 Licenses (Highly Trusted) | Saxo | MultiBank | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | Yes | ||
| 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) | Saxo | MultiBank | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| 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 | Saxo | MultiBank | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 70000 | 1042 | |
| Forex Pairs (Total) | 190 | 40 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | 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 | Saxo | MultiBank | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.1 | N/A | |
| All-in Cost EUR/USD - Active | 0.9 | N/A | |
| Inactivity Fee | Yes | Yes | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | Saxo | MultiBank | |
|---|---|---|---|
| Minimum Deposit | $0 | $50 | |
| PayPal (Deposit/Withdraw) | No | ||
| Skrill (Deposit/Withdraw) | No | ||
| Bank Wire (Deposit/Withdraw) | Yes | ||
| Non-wire bank transfer | No | Yes |
| Trading Platforms | Saxo | MultiBank | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No |
| Trading Tools | Saxo | MultiBank | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 64 | 38 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo | 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 | 64 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Saxo | 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 | Saxo | MultiBank | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | Saxo | MultiBank | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | Saxo Review | MultiBank Review |
| Overall | Saxo | MultiBank | |
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| Trust Score | 99 | 84 | |
| Winner | check_circle | ||
| Review | Saxo Review | MultiBank Review |
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