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 the commissions and fees between City Index and MultiBank, both brokers offer distinctive features for traders. City Index aligns its pricing with the industry average for CFDs, forex, and spread-betting products. By using City Index’s proprietary platforms or MetaTrader, traders can access competitive pricing. City Index's Premium Trader account offers exclusive pricing and dedicated customer service for active traders depositing more than £10,000. The broker’s average spread on the EUR/USD is 0.74 pips, which matches the industry average, but lags behind top competitors like Tickmill. Additionally, City Index provides rebates that start at £4 per million for U.K.-based professional traders and varying levels in Australia, benefiting high volume traders. Rated 4.5 stars, City Index ranks #14 out of 62 brokers in the Commissions and Fees category according to ForexBrokers.com.
MultiBank provides three account types: Standard, Pro, and ECN, each catering to different levels of trading expertise and deposit amounts. The Standard account requires a modest $50 deposit but comes with comparatively higher spreads, making it less desirable for seasoned traders. For reduced spreads, the Pro account requires a $1,000 minimum deposit, whereas the ECN account, aimed at more advanced traders, demands a $10,000 deposit and charges a minimal commission of $3 per trade. An inactivity fee of $60 per month is levied if the account remains dormant for 90 days. MultiBank scores 4 stars and is positioned at #38 out of 62 brokers for Commissions and Fees by ForexBrokers.com.
| 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.
City Index and MultiBank both provide forex trading options as CFDs or spot contracts, catering to those interested in currency markets. However, City Index stands out with a substantially larger range of investment options, offering an impressive 13,500 tradeable symbols and 66 forex pairs. In contrast, MultiBank offers 1,042 tradeable symbols and 40 forex pairs, reflecting a narrower selection. Both platforms do not allow clients to purchase exchange-traded securities on U.S. or international exchanges, such as Apple or Vodafone shares, which may be a consideration for traditional stock traders.
In terms of features, both City Index and MultiBank provide copy trading and cryptocurrency derivatives, allowing users to follow experienced traders and access crypto markets indirectly. Yet, only MultiBank enables clients to purchase actual cryptocurrencies. When it comes to rankings and ratings for their range of investments, City Index receives 5 stars and an impressive #8 ranking out of 62 brokers on ForexBrokers.com, while MultiBank earns 4 stars and is ranked #37. This suggests City Index offers a more extensive and well-regarded investment variety, appealing to investors seeking a broad array of trading opportunities.
| 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.
City Index and MultiBank both stand out with user-friendly trading platforms, providing ample functionality for traders of all levels. Each broker offers a proprietary platform along with popular third-party options like MetaTrader 4. While City Index does not offer MetaTrader 5, MultiBank does, giving it a slight edge for traders who prefer this version's advanced features. Both brokers enable trading directly from stock charts and provide virtual demo accounts to help users practice trading without risking real money. Furthermore, City Index impresses with 239 available charting drawing tools compared to MultiBank's 17, although both excel in offering identical features such as web-based and Windows desktop platforms, alongside copy trading capabilities.
City Index further distinguishes itself with a higher number of watch list columns, offering 11 fields versus MultiBank’s 7, which may appeal to traders who benefit from detailed market tracking. While both brokers achieve strong ratings for their trading platforms and tools, with City Index receiving a commendable 4.5 stars compared to MultiBank's 4 stars, these differences are reflected in their rankings. City Index is ranked #10 out of 62 brokers on ForexBrokers.com, whereas MultiBank holds the #39 position. These features combine to offer traders varied, powerful tools whether they are just starting or are more seasoned investors looking to maximize their trading potential.
| 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.
City Index and MultiBank both offer user-friendly mobile trading apps for iPhone and Android devices, making it convenient for traders to access financial markets on the go. Both services provide stock or forex price alerts and the ability to draw trendlines and view multiple time frames on charts, which are essential tools for active traders. Additionally, their mobile apps allow users to create watchlists with real-time quotes. However, City Index stands out by offering symbol syncing between the mobile app and the online account, ensuring that any changes are seamlessly synchronized. In comparison, MultiBank lacks this feature.
In terms of technical analysis, City Index provides 88 technical studies within its mobile app, significantly more than the 30 offered by MultiBank. This may appeal to traders seeking a more in-depth analytical experience. Both platforms allow users to auto-save drawings on charts, which is a handy feature for maintaining analysis across devices. When it comes to recognition, City Index receives a higher rating of 4.5 stars out of five for its mobile trading apps, compared to MultiBank’s 4 stars. Moreover, City Index is ranked 9th out of 62 brokers in the Mobile Trading Apps category by ForexBrokers.com, whereas MultiBank is ranked 41st, indicating a stronger reputation and user satisfaction for City Index.
| 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 evaluating market research capabilities, City Index stands out for its comprehensive offerings. It provides daily market commentary and is equipped with forex news from top-tier sources such as Bloomberg, Reuters, and Dow Jones, ensuring that traders have access to reliable information. City Index also offers advanced tools like Trading Central's technical analytics and a sentiment-based trading tool that shows the ratio of long or short positions across various instruments. Coupled with an economic calendar that highlights global news events, City Index earns a commendable research rating of 4.5 out of 5 stars and ranks 10th among 62 brokers on ForexBrokers.com.
On the other hand, MultiBank presents a more limited range of research services. While it does provide forex news from leading sources and also includes an economic calendar, it falls short in other areas. MultiBank lacks daily market commentary, Trading Central tools, and sentiment-based trading insights, which are crucial for informed decision-making. As a result, MultiBank receives a research rating of 3.5 out of 5 stars and ranks 49th out of 62 brokers on ForexBrokers.com. This comparison highlights City Index as a more resourceful option for traders seeking in-depth market research tools and insights.
| 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.
When comparing the educational resources available at City Index and MultiBank, it's clear that both platforms offer a solid foundation for beginners looking to delve into forex and CFD trading. Both brokers provide more than 10 educational pieces, such as articles and videos, which serve as a helpful starting point for anyone new to trading. Furthermore, each broker supplies at least 10 video tutorials tailored specifically for novice traders. However, the landscape starts to shift when looking at live webinars and archived content. City Index hosts monthly educational webinars and also offers a searchable archive of previously recorded sessions, which are invaluable for those who prefer interactive learning or want to revisit topics on demand. In contrast, MultiBank does not deliver monthly webinars or maintain an archive of past sessions, which might limit learning opportunities for enthusiastic beginners.
For more advanced traders aiming to expand their knowledge further, City Index stands out by providing over 10 advanced educational videos. Additionally, City Index includes an investor dictionary featuring definitions for more than 50 investing terms, offering a comprehensive glossary for traders to reference. On the other hand, MultiBank doesn't match up in these specific areas—lacking both advanced content and a substantial investor dictionary. When evaluated for their educational offerings, City Index receives a commendable 4.5-star rating and holds the ninth spot out of 62 brokers as ranked by ForexBrokers.com. Meanwhile, MultiBank earns a 3.5-star rating and ranks 50th, indicating that City Index might be the preferable option for beginners serious about expanding their trading knowledge.
| 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 62 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 |
| Broker Screenshots | City Index | MultiBank | |
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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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