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Saxo Bank vs MultiBank 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is Saxo Bank better than MultiBank? In our analysis of 23 international regulators across 62 of the best forex brokers, Saxo Bank is considered low-risk, with an overall Trust Score of 99 out of 99. MultiBank Group is considered trusted, with an overall Trust Score of 82 out of 99. Learn more about Trust Score.

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Overall RatingSaxo BankMultiBank
Overall Rating 5/5 Stars 4/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 4/5 Stars
Platform & Tools 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 3.5/5 Stars
Education 4/5 Stars 3/5 Stars
Trust Score 99 82
Winner check_circle
Review Saxo Bank Review MultiBank Review
RegulationSaxo BankMultiBank
Trust Score 99 82
Year Founded 1992 2005
Publicly Traded (Listed) No No
Bank Yes No
Authorised in European Union Yes info No
Tier-1 Licenses 6 2
Tier-2 Licenses 1 1
Tier-3 Licenses 0 3
Tier-1 Licenses (High Trust)Saxo BankMultiBank
ASIC Authorised (Australia) Yes Yes
IIROC Authorised (Canada) No No
SFC Authorised (Hong Kong) Yes No
CBI Authorised (Ireland) No No
FSA Authorised (Japan) Yes No
MAS Authorised (Singapore) Yes Yes
FINMA Authorised (Switzerland) Yes No
FCA Authorised (U.K.) Yes No
CFTC Registered (USA) No No
FMA Authorised (New Zealand) No No
Tier-2 Licenses (Average Trust)Saxo BankMultiBank
CBRC Authorised (China) No No
CySEC Authorised (Cyprus) No No
SEBI Authorised (India) No No
ISA Authorised (Israel) No No
CBR Authorised (Russia) No No
FSCA Authorised (South Africa) No No
SEC Authorised (Thailand) No No
DFSA / Central Bank Authorised (UAE) Yes Yes
Tier-3 Licenses (Low Trust)Saxo BankMultiBank
SCB Authorised (Bahamas) No No
IFSC Authorised (Belize) No No
CIMA Authorised (Cayman Islands) No Yes
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands) No Yes
FSC Authorised (Mauritius) No No
VFSC Authorised (Vanuatu) No Yes
InvestmentsSaxo BankMultiBank
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 60000 1042
Forex Pairs (Total) 190 41
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 (CFD) 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).
CostSaxo BankMultiBank
Average Spread EUR/USD - Standard 0.9 info N/A
All-in Cost EUR/USD - Active 0.7 info N/A
Active Trader or VIP Discounts Yes No
Execution: Agency Broker Yes No
Execution: Market Maker Yes Yes
FundingSaxo BankMultiBank
Minimum Deposit €2,000 $50
PayPal (Deposit/Withdraw) No No
Skrill (Deposit/Withdraw) No Yes
Visa/Mastercard (Credit/Debit) Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Trading PlatformsSaxo BankMultiBank
Proprietary Platform Yes No
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 Yes
DupliTrade No No
ZuluTrade No No
Trading ToolsSaxo BankMultiBank
Virtual Trading (Demo) Yes Yes
Alerts - Basic Fields Yes Yes
Watchlists - Total Fields 62 7
Charting - Indicators / Studies (Total) 62 38
Charting - Drawing Tools (Total) 20 17
Charting - Trade From Chart Yes Yes
Charts can be saved Yes Yes
Mobile TradingSaxo BankMultiBank
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 62 30
Mobile Charting - Draw Trendlines Yes Yes
Mobile Charting - Multiple Time Frames Yes Yes
Mobile Charting - Drawings Autosave Yes Yes
Forex Calendar Yes Yes
ResearchSaxo BankMultiBank
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
Economic Calendar Yes Yes
EducationSaxo BankMultiBank
Has Education - Forex or CFDs Yes No
Client Webinars Yes No
Client Webinars (Archived) Yes No
Videos - Beginner Trading Videos Yes No
Videos - Advanced Trading Videos Yes No
Investor Dictionary (Glossary) Yes No
Major Forex PairsSaxo BankMultiBank
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 Bank Review MultiBank Review
OverallSaxo BankMultiBank
Overall Rating 5/5 Stars 4/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 4/5 Stars
Platform & Tools 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 3.5/5 Stars
Education 4/5 Stars 3/5 Stars
Trust Score 99 82
Winner check_circle
Review Saxo Bank Review MultiBank Review
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Saxo Bank vs MultiBank Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 forex and CFD brokerages to find the best forex broker. Let's compare Saxo Bank vs MultiBank.

Does Saxo Bank or MultiBank offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, Saxo Bank offers better pricing overall for traders.

Is Saxo Bank or MultiBank safer for forex and CFDs trading?

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. Saxo Bank holds 6 global Tier-1 licenses, while MultiBank holds 2. Both Saxo Bank and MultiBank hold 1 global Tier-2 licenses. In our analysis of 23 international regulators across 50 brokers, Saxo Bank earned a higher Trust Score than MultiBank.

Which trading platform is better: Saxo Bank or MultiBank?

To compare the trading platforms of both Saxo Bank and MultiBank, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Saxo Bank offers a better experience. With research, Saxo Bank offers superior market research. Finally, we found Saxo Bank to provide better mobile trading apps.

What about MetaTrader and copy trading?

For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Neither broker offers Meta Trader.Saxo Bank and MultiBank both offer copy trading.

How many forex pairs and CFDs are available to trade?

Saxo Bank provides traders 190 currency pairs (e.g., EUR/USD) compared to MultiBank's 41 available pairs. Forex pairs aside, Saxo Bank offers traders access to 60000 CFDs while MultiBank has 1042 available CFDs, a difference of 58958.

Can I trust Saxo Bank?

Saxo Bank is not publicly traded, does operate a bank, and is authorised by six tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). Saxo Bank is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Securities Futures Commission (SFC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Swiss Financial Market Supervisory Authority (FINMA) and the Financial Conduct Authority (FCA).

Can I trust MultiBank?

MultiBank Group is not publicly traded, does not operate a bank, and is authorised by two tier-1 regulators (high trust), one tier-2 regulator (average trust), and three tier-3 regulators (low trust). MultiBank Group is authorised by the following tier-1 regulators: the Australian Securities & Investment Commission (ASIC) and the Monetary Authority of Singapore (MAS). Learn more about Trust Score.

Is Saxo Bank good?

Saxo Bank 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.

Is MultiBank good?

MultiBank Group, in operation since 2005, is home to numerous global brands and regulated in jurisdictions all over the world. A multi-asset broker, MultiBank offers forex and CFDs through the MetaTrader and cTrader platform suites (though not all markets are readily available) as well as underlying crypto assets via its regulated crypto exchange. On the negative side, the broker’s market research offering is unimpressive and educational content is entirely absent; MultiBank’s poor performance in these important categories drags down its Overall rating.

Overall winner: Saxo Bank

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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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