Written by ForexBrokers.com
In this head to head comparison of City Index 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.
City Index, established in 1983, has built a strong reputation with its high level of trustworthiness, reflected in an outstanding Trust Score rating of 99 out of 99 on ForexBrokers.com. As a publicly traded company, it holds seven Tier-1 licenses, marking it as a highly trusted online broker. Though not a bank, City Index's standing as a reliable choice is further enhanced by its additional Tier-2 license, positioning it as a secure option for online trading enthusiasts.
Founded in 2005, MultiBank maintains a robust presence in the online brokerage landscape, featuring a Trust Score rating of 84, which means it is considered trusted by ForexBrokers.com. While MultiBank is not publicly traded nor a bank, it possesses three Tier-1 licenses and one Tier-2 license. This regulatory framework supports its reputation as a trustworthy trading platform, attracting users who prioritize reliable oversight in their financial transactions.
| Feature |
City Index
|
MultiBank
|
|---|---|---|
| Year Founded | 1983 | 2005 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 3 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 3 |
When comparing online brokers City Index and MultiBank, it's essential to examine their commissions and fees to determine which may better cater to your trading needs. City Index aligns its pricing for CFDs, forex, and spread-betting products with the industry average, offering competitive cost structuring. Traders using City Index's proprietary platforms or MetaTrader can expect optimized pricing. The broker provides an incentive for active traders, with rebates starting at £4 per million for monthly volumes over £25 million in the UK, with similar rebate structures in Australia. City Index achieves an impressive 4.5-star rating in commissions and fees and ranks 14th among 63 brokers in this category.
On the other hand, MultiBank offers three distinct account types—Standard, Pro, and ECN—to suit different trading levels within forex and CFD markets. While the Standard account requires only a $50 minimum deposit, it comes with relatively higher spreads. For lower spreads and better value, traders might consider the Pro account, which requires a $1,000 minimum deposit. At the premium end, the ECN account offers the lowest spreads alongside a $10,000 minimum deposit and a modest $3 commission per trade. MultiBank does charge a $60 inactivity fee if no trading occurs within 90 days. This broker receives a solid 4-star rating and ranks 38th in the commissions and fees category out of 63 brokers.
| Feature |
City Index
|
MultiBank
|
|---|---|---|
| Minimum Deposit | £100.00 | $50 |
| Average Spread EUR/USD - Standard | 1.4 | N/A |
| All-in Cost EUR/USD - Active | 0.74 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | 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 comparing City Index and MultiBank, both platforms offer forex trading as CFDs or spot contracts, catering to traders in the forex market. However, City Index stands out with an impressive offering of over 13,500 tradeable symbols compared to MultiBank's 1,042. Within the forex market, City Index offers a wider selection of 66 currency pairs, while MultiBank provides 40 pairs. Neither broker allows direct trading of U.S. or international exchange-traded securities, like Apple or Vodafone shares, which may limit options for those interested in traditional stock investments.
For those interested in copy trading, both City Index and MultiBank offer this feature, helping traders replicate strategies from experienced investors. In terms of cryptocurrency, MultiBank allows purchasing of actual cryptocurrencies, in contrast to City Index, which does not. Both brokers facilitate trading in cryptocurrency derivatives. With a 5-star rating from ForexBrokers.com for its range of investments, City Index outshines MultiBank, which holds a 4-star rating. Consequently, City Index ranks #8 of 63 brokers, while MultiBank comes in at #37, showcasing City Index's broader and more versatile investment offerings.
| Feature |
City Index
|
MultiBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 1042 |
| Forex Pairs (Total) | 66 | 40 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | 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 comparing the trading platforms and tools of City Index and MultiBank, both brokers provide users with comprehensive options tailored for diverse needs. They each offer proprietary trading platforms alongside the popular MetaTrader 4 (MT4) and web-based platforms for convenient browser access. Simulated trading is available at no cost with free virtual demo accounts, which is great for beginners. Additionally, both brokers support copy trading features, allowing users to emulate the strategies of successful traders. While MultiBank includes the advanced MetaTrader 5 (MT5) platform, City Index stands out by offering more drawing tools—239 compared to MultiBank's 17—and facilitates direct trading from stock charts. City Index also excels with 11 fields for watch lists, unlike MultiBank's seven, providing more customization for traders.
Overall, City Index is rated 4.5 stars for its trading platforms and tools compared to MultiBank's 4 stars, reflecting its advanced features and higher user satisfaction. City Index is ranked 11th out of 63 brokers by ForexBrokers.com in terms of trading platforms and tools, while MultiBank holds the 39th position. This superiority is evident through its comprehensive charting abilities and customizable watch lists, making City Index a preferred choice for traders seeking a rich set of tools and an intuitive trading experience. However, for those who prioritize access to MetaTrader 5, MultiBank offers this option, catering specifically to traders looking for the extra functionalities provided by MT5.
| Feature |
City Index
|
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) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 88 | 38 |
| Charting - Drawing Tools (Total) | 239 | 17 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing mobile trading apps, City Index and MultiBank both offer iPhone and Android apps equipped with essential features like stock and forex price alerts. City Index, however, distinguishes itself with the ability to sync watchlist symbols between the mobile app and the user's online account—a feature lacking in MultiBank. Both platforms enable trendline drawing on charts and provide diverse time frames for analysis, but City Index offers significantly more with 88 technical charting studies compared to MultiBank's 30.
Both apps allow for the creation of watchlists with real-time quotes and automatically save chart drawings, yet when evaluating overall user ratings, City Index has an edge with a 4.5-star rating over MultiBank's 4 stars. City Index is also highly regarded within the industry, ranking 9th out of 63 brokers in ForexBrokers.com's Mobile Trading Apps category, whereas MultiBank is positioned at 41st. These insights suggest that while both platforms offer comprehensive mobile trading experiences, City Index may provide a more advanced suite of features for active traders.
| Feature |
City Index
|
MultiBank
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 88 | 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 City Index and MultiBank for market research, City Index clearly stands out with its comprehensive offerings. City Index provides daily market commentary, giving traders timely insights to help guide their decisions. In addition to this, it delivers forex news from top-tier sources like Bloomberg, Reuters, or Dow Jones, ensuring that users stay informed with reliable information. An economic calendar is also part of City Index's features, displaying upcoming global news events, which is crucial for strategic planning. Furthermore, the presence of a sentiment-based trading tool, showcasing the balance of long and short positions, adds depth to their research capabilities. City Index also offers Technical Analytics from Trading Central, enhancing its analytical tools for seasoned and novice traders alike.
On the other hand, MultiBank provides some essential features such as forex news from reputable sources and an economic calendar to keep traders updated. However, it lacks in offering daily market commentary and advanced research tools like those from Trading Central. MultiBank does not have a sentiment-based trading tool, which might limit traders in gauging market sentiments accurately. In terms of ratings, City Index scores impressively with 4.5 stars for research compared to MultiBank's 3.5 stars. The superiority of City Index is further underscored by its notable rank of #10 out of 63 brokers in the research category by ForexBrokers.com, whereas MultiBank holds a lower rank at #49. Overall, City Index's strong research tools and insightful resources make it a better choice for traders seeking thorough market analysis.
| Feature |
City Index
|
MultiBank
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | 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.
City Index and MultiBank both provide educational resources tailored for beginners looking to delve into forex and CFDs trading. City Index shines by offering a comprehensive suite of learning materials, including over 10 beginner-focused educational videos. These videos cover a wide range of fundamental trading topics, ensuring that newcomers have a solid foundation. Additionally, City Index organizes monthly webinars and maintains a searchable archive of past webinars, making it easier for clients to revisit and learn at their own pace. With a detailed investor dictionary boasting over 50 trading terms, City Index offers a well-rounded educational experience, deserving its 4.5-star education rating and 9th place ranking by ForexBrokers.com.
MultiBank also provides a foundational educational platform with a variety of starter materials, presenting over 10 beginner videos. However, it lacks regular monthly webinars and an archive service for previous sessions, which limits learners from accessing a continuous stream of updated information. Moreover, while MultiBank provides beginner-level content, its resources for more advanced traders are sparse, which could hinder progression for those looking to deepen their trading expertise. Additionally, the absence of an investor dictionary might affect the ease of learning trading jargon for new traders. This results in MultiBank receiving a 3.5-star education rating and a 50th place rank by ForexBrokers.com.
| Feature |
City Index
|
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 City Index is better than MultiBank. City Index finished with an overall rank of #8, while MultiBank finished with an overall rank of #40.
Backed by StoneX Group, City Index is a trusted brand known for its versatile trading platforms, excellent mobile app, diverse market research, and extensive range of tradeable markets.
| Feature |
City Index
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MultiBank
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 84 |
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City Index allows trading of cryptocurrency derivatives but not the purchase of actual cryptocurrencies, whereas MultiBank offers the capability to buy both actual cryptocurrencies and cryptocurrency derivatives.
When comparing the deposit and withdrawal options of online brokers City Index and MultiBank, both platforms support ACH or SEPA transfers, Visa or Mastercard, and bank wires, but differ in digital wallets, as City Index offers PayPal while MultiBank supports Skrill instead.
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 | City Index | MultiBank | |
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| Trust Score | 99 | 84 | |
| Winner | check_circle | ||
| Review | City Index Review | MultiBank Review |
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| Regulation | City Index | MultiBank | |
|---|---|---|---|
| Trust Score | 99 | 84 | |
| Year Founded | 1983 | 2005 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | 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 | 1 | 3 |
| Tier-1 Licenses (Highly Trusted) | City Index | MultiBank | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | No | 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) | City Index | 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 | City Index | MultiBank | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 13500 | 1042 | |
| Forex Pairs (Total) | 66 | 40 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | 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 | City Index | MultiBank | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.4 | N/A | |
| All-in Cost EUR/USD - Active | 0.74 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | City Index | MultiBank | |
|---|---|---|---|
| Minimum Deposit | £100.00 | $50 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | City Index | MultiBank | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | City Index | MultiBank | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 7 | |
| Charting - Indicators / Studies (Total) | 88 | 38 | |
| Charting - Drawing Tools (Total) | 239 | 17 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | City Index | 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 | 88 | 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 | City Index | MultiBank | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | City Index | 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 | City Index | 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 | City Index Review | MultiBank Review |
| Overall | City Index | MultiBank | |
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| Trust Score | 99 | 84 | |
| Winner | check_circle | ||
| Review | City Index Review | MultiBank Review |
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