Written by ForexBrokers.com
In this head to head comparison of FXCM 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.
FXCM and MultiBank are both well-known online brokers; however, they have different regulatory standings. Established in 1999 and publicly traded, FXCM has a strong presence in the market. It holds 4 Tier-1 licenses, indicating a high level of trust, and 2 Tier-2 licenses. FXCM boasts an impressive Trust Score of 95 out of 99 on ForexBrokers.com, reflecting its high trustworthiness.
MultiBank, founded in 2005, is a privately held company. It holds 3 Tier-1 licenses and 1 Tier-2 license, pointing to a reliable status as well. With a ForexBrokers.com Trust Score of 84, MultiBank is considered a trusted option in the online trading space. However, while both companies are not banks, FXCM's higher Trust Score and greater number of top-tier licenses may appeal to those prioritizing regulatory oversight.
| Feature |
FXCM
|
MultiBank
|
|---|---|---|
| Year Founded | 1999 | 2005 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 3 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 3 |
FXCM and MultiBank are reputable online brokers that offer forex trading services, each with different approaches to commissions and fees. FXCM’s pricing for forex trading is typically above industry average. Their average spreads for standard accounts are 0.78 pips on the EUR/USD for the EU, U.K., and Australia, and 1.38 pips for St. Vincent and the Grenadines, both moderately higher than standard rates. For those using commission-based accounts, FXCM provides an average spread of 0.28 pips, excluding additional costs. FXCM also offers an Active Trader Rebate Program for non-EU and non-U.K. residents, where traders can earn rebates based on trading volume. While competitive, the benefits may fall short compared to alternatives like Tickmill and FP Markets.
In contrast, MultiBank provides three separate account types: Standard, Pro, and ECN, catering to diverse trader needs. The Standard account is accessible with a $50 minimum deposit but comes with higher spreads, making it less appealing to seasoned traders. The Pro account requires a $1,000 minimum deposit and offers better spreads than the Standard account. The ECN account offers the lowest spreads and a $3 commission per trade, but requires a $10,000 minimum deposit. It’s important to note that MultiBank imposes a $60 monthly inactivity fee if no trades are made within a 90-day period.
Both brokers have earned solid four-star ratings for commissions and fees, with FXCM ranked #24 and MultiBank ranked #38 out of 63 brokers on ForexBrokers.com. While each platform has its strengths, FXCM might appeal to traders looking for rebate opportunities based on trade volume, whereas MultiBank provides flexibility across various account types, despite some higher entry requirements and potential fees for inactivity.
| Feature |
FXCM
|
MultiBank
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $50 |
| Average Spread EUR/USD - Standard | 0.78 | N/A |
| All-in Cost EUR/USD - Active | 0.78 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the range of investments available at FXCM and MultiBank, several differences emerge that may influence your choice. FXCM provides 440 tradeable symbols, including 43 forex pairs, while MultiBank offers a wider variety with 1,042 symbols and 40 forex pairs. Both brokers support CFD trading for forex, but neither offers the option to buy exchange-traded securities directly on U.S. or international exchanges, like Apple or Vodafone shares.
For cryptocurrency enthusiasts, MultiBank offers an edge, allowing the purchase of actual cryptocurrencies, whereas FXCM focuses on cryptocurrency derivatives. Both platforms support copy trading, enabling users to mimic successful trading strategies. Review scores reflect these offerings, with FXCM rated at 3.5 stars and ranked 47th out of 63 brokers for range of investments by ForexBrokers.com, while MultiBank has a slightly higher rating of 4 stars and ranks 37th. These factors can guide traders in selecting the broker that best aligns with their investment goals and strategies.
| Feature |
FXCM
|
MultiBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 1042 |
| Forex Pairs (Total) | 43 | 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 FXCM and MultiBank, both brokers offer solid options for traders. Both provide simulated trading with free virtual demo accounts, proprietary platforms, Windows-based desktop platforms, and web-based trading interfaces. They also support the popular MetaTrader 4 (MT4) and enable copy trading. However, only MultiBank offers MetaTrader 5 (MT5), while FXCM gives users access to ZuluTrade. Additionally, traders using FXCM have access to 10 drawing tools for charting and can trade directly from stock charts. In terms of watch list customization, FXCM provides 13 columns, considerably more than MultiBank's 7.
FXCM stands out with a higher rating of 5 stars for their trading platforms and tools, while MultiBank scores 4 stars. On the ForexBrokers.com ranking, FXCM shines at 6th place out of 63 brokers for their platform offerings, whereas MultiBank ranks 39th. These distinctions underscore FXCM's strength in providing a more comprehensive and user-friendly trading platform experience. Whether you're looking for advanced charting or versatile trading software, FXCM appears to offer a superior suite of tools for both new and experienced traders.
| Feature |
FXCM
|
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 | Yes | No |
| Charting - Indicators / Studies (Total) | 115 | 38 |
| Charting - Drawing Tools (Total) | 10 | 17 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 13 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading applications of FXCM and MultiBank, both brokers offer apps on iPhone and Android platforms, enabling traders to access their accounts on the go. Both apps provide essential features like stock or forex price alerts, the ability to draw trendlines, and multiple time frame views for charts. Additionally, users of both platforms can create watchlists with real-time quotes, although only FXCM supports watchlist symbol syncing with changes across devices. This feature allows for a seamless experience between the mobile and online platforms, offering convenience when managing and tracking investments.
FXCM's mobile app stands out with 59 technical studies for charting, compared to MultiBank's offering of 30, granting more options for in-depth market analysis. Both apps auto-save chart drawings which adds to the user-centric design. In terms of overall user satisfaction, FXCM earns a rating of 4.5 stars, while MultiBank trails with 4 stars. Reflecting this sentiment, ForexBrokers.com ranks FXCM at a commendable 16th place for mobile trading apps out of 63 evaluated brokers, whereas MultiBank holds the 41st spot. This distinction highlights FXCM's slightly more comprehensive and user-friendly mobile trading environment.
| Feature |
FXCM
|
MultiBank
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 59 | 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.
FXCM stands out as a solid choice for market research, offering daily market commentary that is absent with MultiBank. Both brokers provide forex news from top-tier sources such as Bloomberg and Reuters. However, FXCM goes a step further with Trading Central's technical analysis tools, providing traders with deeper insights, which MultiBank lacks. In addition to that, FXCM offers a sentiment-based trading tool to gauge market mood, as well as access to TipRanks for enhanced market research, giving it a significant edge over MultiBank.
Both FXCM and MultiBank offer economic calendars to keep traders updated on global news events. However, FXCM's comprehensive research offerings earn it a notable rating of 4.5 stars out of five, compared to MultiBank's 3.5 stars. This quality in research also places FXCM at an impressive 11th out of 63 brokers in ForexBrokers.com's rankings, whereas MultiBank lags behind at 49th. Overall, traders seeking a well-rounded research experience may find FXCM to be the more advantageous option.
| Feature |
FXCM
|
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 | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available for beginners from FXCM and MultiBank, FXCM stands out with an impressive range of materials. FXCM not only offers a minimum of 10 educational pieces focused on forex and CFDs but also enhances learning through monthly online webinars. Additionally, users can access a searchable archive of recorded webinars, expanding the learning opportunity even further. With more than 10 educational videos tailored specifically for beginners, FXCM ensures a thorough understanding of foundational trading concepts. Their resource collection is rounded out by an investor dictionary, providing clear definitions for over 50 trading terms. This wide array of educational tools earns FXCM a commendable 4.5-star rating and a #14 rank in the Education category by ForexBrokers.com.
On the other hand, MultiBank also offers a foundation of at least 10 educational pieces about forex and CFDs, as well as a suite of beginner videos. However, it falls short when it comes to more interactive learning opportunities. MultiBank does not provide regular educational webinars or a searchable archive of past webinars, which can hinder a more engaged learning experience. The lack of advanced educational videos and a comprehensive investor dictionary further limits the depth of their educational offerings. Consequently, MultiBank receives a lower education rating of 3.5 stars and ranks #50 in education compared to other brokers reviewed by ForexBrokers.com.
| Feature |
FXCM
|
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 FXCM is better than MultiBank. FXCM finished with an overall rank of #15, while MultiBank finished with an overall rank of #40.
For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.
| Feature |
FXCM
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MultiBank
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 84 |
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While both FXCM and MultiBank offer cryptocurrency derivatives, only MultiBank allows users to purchase actual delivered cryptocurrency, setting it apart from FXCM which does not provide this option.
FXCM and MultiBank both offer a variety of methods to deposit or withdraw funds, including ACH or SEPA transfers, Skrill, Visa or Mastercard, and bank wires, but FXCM provides the additional option of using PayPal, which MultiBank does not.
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 | FXCM | MultiBank | |
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| Trust Score | 95 | 84 | |
| Winner | check_circle | ||
| Review | FXCM Review | MultiBank Review |
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| Regulation | FXCM | MultiBank | |
|---|---|---|---|
| Trust Score | 95 | 84 | |
| Year Founded | 1999 | 2005 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 4 | 3 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 3 |
| Tier-1 Licenses (Highly Trusted) | FXCM | 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) | No | 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) | FXCM | MultiBank | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | Yes | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FXCM | MultiBank | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 1042 | |
| Forex Pairs (Total) | 43 | 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 | FXCM | MultiBank | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.78 | N/A | |
| All-in Cost EUR/USD - Active | 0.78 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | FXCM | MultiBank | |
|---|---|---|---|
| Minimum Deposit | Starts from $50 | $50 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | FXCM | 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 | Yes | No |
| Trading Tools | FXCM | MultiBank | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 13 | 7 | |
| Charting - Indicators / Studies (Total) | 115 | 38 | |
| Charting - Drawing Tools (Total) | 10 | 17 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FXCM | 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 | 59 | 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 | FXCM | MultiBank | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | FXCM | 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 | FXCM | 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 | FXCM Review | MultiBank Review |
| Overall | FXCM | MultiBank | |
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| Trust Score | 95 | 84 | |
| Winner | check_circle | ||
| Review | FXCM Review | MultiBank Review |
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