FXOpen vs MultiBank Comparison
Comparing forex brokers side by side is no easy task. Our research team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Trying to decide between FXOpen and MultiBank? Our independent database powered by our unbiased research will help you compare FXOpen vs MultiBank side-by-side.
What is Trust Score?
Trust Score is a data-driven rating system that provides an at-a-glance rating of a broker’s overall trust by tracking 60+ brokers and over 100 regulatory jurisdictions across the globe. To make things clearer for everyday traders, we’ve created a five-tier system for regulators and Trust Score rating labels. Learn more about Trust Score, and check out our country guides to see the most trusted brokers in your country of residence.
Can I trust FXOpen?
FXOpen has a Trust Score of 76, giving it a "Average Risk" Trust Score Label.
Can I trust MultiBank?
MultiBank has a Trust Score of 84, giving it a "Trusted" Trust Score Label.
Is FXOpen a good broker?
Founded in 2003, FXOpen is a trusted broker that is regulated in multiple Tier-1 regulatory jurisdictions, boosting its overall Trust Score. FXOpen offers the full MetaTrader suite (both MT4and MT5) alongside the TickTrader platform, though the broker's MetaTrader offering is relatively unimpressive. With an extremely small number of tradeable markets and a limited selection of educational materials, FXOpen simply can't compete with the best forex brokers.
Is MultiBank a good broker?
MultiBank offers a solid range of forex and CFD trading services, making it an average choice for traders. With an overall rating that indicates satisfactory performance, it provides a reliable trading experience but may lack some advanced features found in other brokers.
What Tier-1 jurisdictions is each broker regulated in?
Tier-1 is reserved for the strictest, most stringent regulatory jurisdictions in the world. Tier-1 regulators impose additional capital requirements and require a tougher initial screening process. FXOpen holds regulatory licenses in the following Tier-1 jurisdictions: United Kingdom (U.K.) (FCA Authorised). MultiBank, on the other hand, is licensed in these Tier-1 regulatory jurisdictions: Australia (ASIC Authorised) and Singapore (MAS Authorised). Neither have Canada (CIRO Authorised), Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), New Zealand (FMA Authorised), Switzerland (FINMA Authorised) and USA (CFTC Authorized)
What Tier-2 jurisdictions is each broker regulated in? What about Tier-3?
Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, FXOpen is Cyprus (CySEC Authorised), while MultiBank is Cyprus (CySEC Authorised) and UAE (DFSA/Central Bank Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), South Africa (FSCA Authorised) and Thailand (SEC Authorised). When comparing tier-3 licenses FXOpen is none, while MultiBank is British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised) and Vanuatu (VFSC Authorised).. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised) and Mauritius (FSC Authorised).
Which broker offers more trading platforms?
Whether your broker develops its own proprietary platforms or provides access to popular third-party platforms, you should make sure you can use your preferred type of trading platform. In our testing, we found that FXOpen offers a Desktop Platform (Windows) and ZuluTrade, whereas MultiBank supports a Proprietary Platform and Desktop Platform (Windows). Neither have cTrader and DupliTrade
Does FXOpen offer MetaTrader? Does MultiBank offer MetaTrader?
Both FXOpen and MultiBank offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If you’re new to MetaTrader 4 here’s our educational guide on how to use MT4.
How do FXOpen and MultiBank differ in terms of minimum deposit? What about average spreads and funding options?
FXOpen requires a minimum deposit of $100, while MultiBank requires a minimum deposit of $50. You'll also want to make sure that your broker accepts the funding options and deposit methods that work best for you. In our testing, we've found that both FXOpen and MultiBank offer Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for deposits. Neither have PayPal (Deposit/Withdraw)
Which broker offers more tradeable asset classes, FXOpen or MultiBank?
When choosing a forex broker, it’s important to consider each broker’s available investment products and tradeable asset classes. We’ve researched each broker’s individual offering of investments to help you pick the right broker for what you want to trade. During our testing, we found that FXOpen delivers a more diverse selection of investment options than MultiBank, offering tradeable asset classes and investment types such as Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, ETF and U.S. Stocks (CFD). Neither have Spread Betting.
We also keep track of each broker’s total number of tradeable symbols; FXOpen offers 87, and MultiBank offers a total of 1042 tradeable symbols.
Can I trade cryptocurrency with FXOpen or MultiBank?
Crypto trading has become popular among forex traders across a range of international jurisdictions. As a result, many forex brokers now offer crypto products to their clients; most crypto assets are offered either as an underlying physical asset (such as when you own actual bitcoin assets, for example) or as a derivative product like a CFD. If you are looking to trade physical cryptocurrencies, you’ll find that FXOpen offers clients access to trading physical cryptocurrencies while MultiBank does not.
Who offers more research tools, FXOpen or MultiBank?
Market research plays a huge role in any forex trader’s ability to conduct analysis within the global forex market. We test each broker’s research offering to help you decide which broker is right for your technical or fundamental analysis needs. FXOpen delivers the following research tools: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading. MultiBank, on the other hand, provides the tools listed here: Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading. Neither have Autochartist and Trading Central (Recognia)
Broker Reviews
Overall winner: FXOpen
Popular Forex Reviews
Popular Forex Guides
More Forex Guides
Popular Forex Reviews
announcementPlease 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.