Multibank Group is a broker that offers trading of FX, Share CFDs, Metals and Cryptocurrencies, across a range of proprietary platforms that bridge to the MT4 platform.
|#||Broker's Features||MULTIBANK Availability||OCTAFX Availability|
|#||Accepts US traders||❌||❌|
|#||24 hour trading||✔||✔|
|#||Trading by phone||❌||❌|
|#||1st deposit bonus||❌||❌|
|#||Forex contests competitions||❌||✔|
|#||Interest charges on the balance||❌||❌|
|#||24 hour support||✔||✔|
The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will compare MultiBank vs Octafx.
Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. MultiBank offers Online Financial Trading and Investment Services Such as Forex, Metals, Shares, Indices, Commodities, Crypt, while Octafx offers Gold, Silver, Cryptocurrency, Indices.
Broker Type: Many types of brokers can be found in the most dynamic market in the world. MultiBank is ECN Broker, while Octafx is ECN, STP.
Minimum Deposit Requirement: To compare these two FX brokers, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. MultiBank recommended minimum capital is 50, while Octafx has a Minimum Deposit Requirement of 5.
Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. MultiBank is regulated by ASIC, BaFin, FMA, CNMV, FSC, CIMA, RAK, while Octafx regulated by FCA UK. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.
Account currencies: Next lets consider the Account currencies each broker offers. MultiBank offers USD, GBP, EUR, JPY, CHF, AUD, NZD, CAD different account currencies for each account types, while Octafx offers EUR, USD account currencies.
Languages Available: Next lets have a look at each broker's different Language options. MultiBank offers English, Spanish, Italian, French, German, Portugu, while Octafx offers English, Indonesian, Chinese, Portuguese, Spanish, Customer Support Languages.
Payment methods: Next lets have a look at each broker's payment options. MultiBank offers Credit/Debit Cards, bank wire, Skrill, Neteller, Pay Trus different payment methods for each account types, while Octafx offers Credit/Debit Cards, Bank Wire Transfer, Skrill, FasaPay, Nete payment methods.
Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, MultiBank makes MT4, MT5, WebTrader available to clients, while Octafx offers cTrader, MT4, MT5.
There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.
Objectively, Octafx is more reliable based on our criteria above. Octafx has a wider range of instruments to trade giving you the flexibility to get access and exposure to a wide range of markets. As Octafx offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades. Only Octafx provides training and education resources which is extremely critical to beginner traders who may not be familiar with most of what goes on in the Forex markets.
Finally, if you're really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable Personalised Broker based on your precise requirements here.