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.
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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 |
When comparing online brokers Saxo and MultiBank based on their commissions and fees, Saxo stands out with an impressive 5-star rating and secures the 9th spot out of 63 brokers according to ForexBrokers.com. Saxo offers competitive pricing, especially for active and high-volume traders. The broker provides three account tiers - Classic, Platinum, and VIP. While the Classic account starts with a slightly higher average spread of 1.1 pips for EUR/USD, it requires no minimum deposit, making it accessible for new customers. The Platinum account has a $200,000 minimum deposit, with average spreads reducing to 1.0 pips, while the exclusive VIP account demands a $1,000,000 deposit and offers spreads as low as 0.9 pips, coupled with a luxurious client experience.
Saxo maintains a commission-free structure for forex trading, generating revenue through spreads. However, traders who conduct less than 50,000 units of trades per month are subject to a ticket-fee of $3 per side. In contrast, MultiBank, rated 4 stars and ranked 38th by ForexBrokers.com, offers a more tiered approach with its Standard, Pro, and ECN account types. The Standard account, while requiring just a $50 minimum deposit, comes with higher spreads. The Pro account, with a $1,000 minimum, offers more competitive spreads, whereas the ECN account provides the lowest spreads for a minimum deposit of $10,000, including a $3 round-trip commission per trade.
MultiBank also imposes a $60 monthly inactivity fee if an account remains dormant for 90 days, which contrasts with Saxo's focus on incentives like waiving custody fees for traders who opt into securities lending. Overall, Saxo is ideal for those seeking lower costs and premium services, while MultiBank is better suited for traders who are mindful of initial deposits and account flexibility.
| Feature |
Saxo
|
MultiBank
|
|---|---|---|
| Minimum Deposit | $0 | $50 |
| Average Spread EUR/USD - Standard | 1.1 | N/A |
| All-in Cost EUR/USD - Active | 0.9 | N/A |
| Active Trader or VIP Discounts | Yes | 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.
When it comes to the range of investments, Saxo sets itself apart with an impressive number of 70,000 tradeable symbols and 190 forex pairs, providing traders with plenty of options to diversify their portfolios. Saxo also permits access to U.S. and international exchanges, enabling clients to buy stock in leading companies like Apple and Vodafone directly. Meanwhile, MultiBank offers 1,042 tradeable symbols and 40 forex pairs, and does not provide access to trading U.S. or international exchange-listed stocks. Both Saxo and MultiBank support forex trading through CFDs or spot contracts, and offer copy trading and crypto derivatives, although only MultiBank allows for the purchase of actual cryptocurrency.
Saxo's broader investment offerings have earned it a five-star rating in the Range of Investments category, placing it third out of 63 brokers according to ForexBrokers.com. In contrast, MultiBank scores four stars and is ranked 37th in the same category. These ratings highlight Saxo's extensive variety of trading instruments, making it a more suitable choice for traders looking for a wide array of investment options. However, for those specifically interested in trading actual cryptocurrencies, MultiBank may offer a slight edge with its capability in this area.
| Feature |
Saxo
|
MultiBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 1042 |
| Forex Pairs (Total) | 190 | 40 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | 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 choosing an online broker, Saxo and MultiBank both offer several trading platforms and tools, creating a competitive landscape for traders. Both brokers provide access to simulated trading with virtual demo accounts, allowing users to practice without financial risk. Each company has developed its proprietary platform for a unique trading experience and also offers a Windows-based desktop and web-based trading options. For those interested in social trading, both Saxo and MultiBank support copy trading features, though only MultiBank supports the MetaTrader 4 and MetaTrader 5 platforms. However, neither offers integration with DupliTrade or ZuluTrade.
When it comes to the depth of charting tools, Saxo provides a comprehensive suite with 20 drawing tools and enables trades directly from stock charts. The platform also features an extensive watchlist capability with 60 fields, significantly more than MultiBank's 7. Evaluating overall performance, Saxo has been rated 5 stars for trading platforms and tools and is ranked number one out of 63 brokers by ForexBrokers.com. In comparison, MultiBank receives a 4-star rating and is ranked 39th. These distinctions make Saxo a noteworthy choice for those prioritizing advanced tools and customizable trading environments.
| Feature |
Saxo
|
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) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | 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 | 60 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Saxo and MultiBank deliver convenient trading experiences with their mobile apps available on iPhones and Android devices. They both provide key features like price alerts, the ability to draw trend lines, and viewing multiple time frames on stock or forex charts. However, when it comes to keeping your watchlists consistent across platforms, Saxo takes the lead by offering watchlist syncing with your online account, a feature MultiBank lacks. For chart enthusiasts, Saxo impresses with 64 technical studies, while MultiBank offers 30. Both brokers ensure that any drawings made on charts are automatically saved, and both support the creation of watchlists with real-time quotes.
In terms of overall ratings and rankings, Saxo stands out with a 5-star rating for its mobile trading app, ranking second out of 63 brokers according to ForexBrokers.com. Meanwhile, MultiBank garners a 4-star rating and holds the 41st position. These differences highlight Saxo's commitment to providing a more feature-rich and user-friendly mobile trading experience, which might be a decisive factor for traders seeking top-tier tools on the go.
| Feature |
Saxo
|
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 the market research capabilities of Saxo and MultiBank, Saxo stands out with a more comprehensive offering. Saxo provides daily market commentary and access to forex news from top sources like Bloomberg and Reuters. Additionally, Saxo integrates tools such as Autochartist and offers sentiment-based trading insights, showing the balance of buying and selling positions. MultiBank also delivers forex news from top-tier sources, and while it features an economic calendar similar to Saxo, it lacks other advanced research tools. Notably, neither broker offers resources from Trading Central, TipRanks, or Acuity Trading.
Saxo holds a strong reputation in research, boasting a 5-star rating and securing the #1 rank among 63 brokers evaluated by ForexBrokers.com. In contrast, MultiBank, with a 3.5-star rating, ranks #49, indicating room for improvement in its market research offerings. These differences highlight Saxo as a leader for traders seeking advanced analytical tools and comprehensive market insights. Meanwhile, MultiBank provides a solid, albeit more limited, range of research features.
| Feature |
Saxo
|
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 comparing the educational offerings of Saxo and MultiBank, beginners can find a wealth of resources with Saxo. Both platforms provide more than ten educational pieces focusing on forex or CFDs, including articles and videos. However, Saxo distinguishes itself by hosting monthly online educational webinars, while MultiBank does not provide this feature. Additionally, Saxo offers an archive of previously recorded webinars, giving users another layer of learning opportunities that MultiBank lacks.
For those taking their first steps into trading, Saxo offers a comprehensive library of beginner educational videos and expands their educational reach with advanced materials, unlike MultiBank which does not offer videos for more experienced traders. Saxo provides an investor dictionary with over 50 investing terms, ensuring that beginners can understand the terminology better. Because of these extensive resources, Saxo has earned a 5-star rating for education and ranks 13th among 63 brokers, compared to MultiBank's 3.5-star rating and 50th position. This makes Saxo a compelling choice for beginners looking for rich educational content when starting their trading journey.
| Feature |
Saxo
|
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 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
|
MultiBank
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 84 |
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Saxo does not provide the option to buy actual (delivered) cryptocurrency but does offer cryptocurrency derivatives, whereas MultiBank enables clients to purchase both actual (delivered) cryptocurrencies and cryptocurrency derivatives.
While both Saxo and MultiBank offer Visa, Mastercard, and bank wire transfers for deposits and withdrawals, MultiBank additionally supports ACH or SEPA transfers and Skrill, unlike Saxo, which does not support these options.
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 | 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) | Saxo | MultiBank | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | 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 | Saxo | MultiBank | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 70000 | 1042 | |
| Forex Pairs (Total) | 190 | 40 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | 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 | Saxo | MultiBank | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | N/A | |
| All-in Cost EUR/USD - Active | 0.9 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Saxo | MultiBank | |
|---|---|---|---|
| Minimum Deposit | $0 | $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 | Saxo | MultiBank | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Saxo | MultiBank | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 60 | 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 | Saxo | 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 | Saxo | 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 | Saxo | 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 | Saxo | 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 | 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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