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 offers slightly higher-than-average pricing for forex trading, with spreads for its standard accounts varying by region. For the EUR/USD pair, average spreads in the EU, U.K., and Australia were 0.78, while the St. Vincent and the Grenadines entity had higher spreads at 1.38. For commission-based accounts, average spreads were competitively low at 0.28 pips, excluding additional commissions. FXCM incentivizes high-volume traders through its Active Trader Rebate Program, which offers rebates from $5 to $25 per million traded, depending on your trading tier. Nevertheless, the program's benefits hinge on substantial monthly trading volumes and may not be available in all regions. FXCM has been rated 4 out of 5 stars for commissions and fees, ranking 24th out of 62 brokers.
MultiBank offers three different account types, each with its own cost structure. The Standard account requires a modest $50 deposit but has relatively high spreads, making it more suitable for beginners. The Pro account, demanding a $1,000 minimum deposit, offers more favorable rates, while the ECN account provides the lowest spreads at MultiBank with a $10,000 deposit and a $3 commission per trade. Additionally, MultiBank enforces a $60 inactivity fee if no trading occurs for 90 days. With a similar rating of 4 out of 5 stars for commissions and fees, MultiBank is ranked 38th among 62 brokers.
FXCM, with its commission-based account options and volume-based rebates, generally provides more competitive pricing for active traders compared to MultiBank. However, MultiBank's diverse account offerings accommodate a range of trader profiles, from novices to experienced traders who can afford its ECN account. Ultimately, both brokers offer solid options depending on your trading needs and financial capacity.
| 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.
Both FXCM and MultiBank offer forex trading as CFDs, providing users with flexible ways to engage in the market. FXCM allows trading in 440 symbols, including 43 forex pairs, while MultiBank offers a broader selection of 1042 symbols, consisting of 40 forex pairs. Neither broker provides options to trade actual stocks from U.S. or international exchanges, focusing primarily on CFDs as their main offering in securities trading. Both platforms support copy trading, a feature attractive to new or passive investors. While neither broker offers the option to purchase physical cryptocurrency, both platforms provide trading in cryptocurrency derivatives. However, MultiBank stands out in this area by also enabling clients to buy actual cryptocurrencies, expanding its investment range.
In terms of rankings, FXCM is assessed at 3.5 stars for its range of investments, placing it in the 47th spot out of 62 brokers, according to ForexBrokers.com. MultiBank receives a slightly higher score of 4 stars, securing the 37th position. These ratings indicate a more diverse investment offering by MultiBank compared to FXCM, although both brokers provide comprehensive CFD and forex trading capabilities. Therefore, investors seeking more extensive options in cryptocurrency might find MultiBank a more fitting choice, while those interested in a solid selection of forex pairs could consider both brokers.
| 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.
FXCM and MultiBank both offer traders a comprehensive suite of platforms and tools for online trading. Both brokers provide free virtual demo accounts to help users familiarize themselves with their services. FXCM and MultiBank have developed proprietary platforms and offer both Windows-based desktop and web-based options for trading. Copy trading is available with both brokers; however, FXCM supports ZuluTrade while MultiBank does not. Additionally, both brokers offer the ever-popular MetaTrader 4 (MT4) platform, but only MultiBank features MetaTrader 5 (MT5).
When it comes to charting tools, MultiBank boasts 17 drawing tools compared to FXCM's 10, although FXCM slightly edges out MultiBank in other areas. FXCM provides more variety in watch lists with 13 columns compared to MultiBank's 7. Both brokers offer the convenience of trading directly from stock charts. According to ForexBrokers.com, FXCM is ranked higher than MultiBank, placed at 6th out of 62 brokers for their trading platforms and tools, as opposed to MultiBank's 39th position. As a result, FXCM garners a five-star rating, while MultiBank earns four stars for their trading platforms and tools.
| 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 choosing a trading platform for mobile use, both FXCM and MultiBank provide apps available for iPhone and Android, ensuring accessibility for users on both major mobile operating systems. Both platforms feature stock and forex price alerts to keep traders updated in real-time. However, FXCM stands out by offering watchlist symbol syncing, allowing seamless integration and synchronization between your mobile app and online account. On the other hand, MultiBank does not offer this feature. For those who rely on technical analysis, FXCM provides a more extensive suite with 59 technical studies for charting compared to MultiBank's 30.
Both FXCM and MultiBank allow drawing trendlines and viewing multiple time frames on their charts, as well as automatically saving your drawings. Each platform supports the creation of watchlists with real-time quotes. While FXCM receives a higher rating of 4.5 stars for its mobile trading app, MultiBank trails slightly with 4 stars. Furthermore, in ForexBrokers.com's ranking among 62 brokers, FXCM is positioned at #16, while MultiBank is ranked at #41, showcasing FXCM's stronger performance in the mobile trading app category.
| 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.
When it comes to market research offerings, FXCM shines with daily market commentary and a wealth of forex news from top-tier sources like Bloomberg and Reuters, which MultiBank also provides. However, FXCM goes a step further by offering tools such as Trading Central’s technical analytics and a sentiment-based trading tool to gauge long or short positions across various markets. In contrast, MultiBank lacks these advanced research tools. Both brokers provide an economic calendar to keep traders informed of global economic events, but FXCM distinguishes itself with additional insights using TipRanks market research, which is not available with MultiBank.
In terms of overall research quality, FXCM outpaces MultiBank, earning a 4.5-star rating for its comprehensive market analysis features and tools. This positions FXCM at an impressive 11th place in the research category among 62 brokers reviewed by ForexBrokers.com. Meanwhile, MultiBank, with a 3.5-star rating, is ranked at 49th. This comparison highlights the strengths FXCM offers for traders seeking thorough and varied market research to support their trading strategies.
| 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 it comes to education for beginners in the world of online trading, both FXCM and MultiBank offer a solid foundation with a variety of resources. FXCM provides an extensive range of educational materials, including more than ten articles, videos, and archived webinars focused on forex and CFDs. In comparison, MultiBank also meets this benchmark by offering over ten educational pieces covering similar topics. However, FXCM sets itself apart by hosting monthly online educational webinars and providing access to a searchable archive of these recorded sessions, features that MultiBank does not offer.
FXCM is particularly advantageous for those seeking comprehensive education, featuring over ten beginner-focused trading videos and an additional ten designed for experienced traders. MultiBank also caters to beginners with a similar collection of introductory videos, yet it lacks the advanced video offerings found at FXCM. Furthermore, FXCM enhances its educational suite with a well-stocked investor dictionary containing definitions for over 50 investing terms. This additional educational support helps explain its higher education rating of 4.5 stars compared to MultiBank's 3.5 stars. Consequently, FXCM is ranked 14th among 62 brokers by ForexBrokers.com for education, significantly ahead of MultiBank, which sits at 50th place.
| 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 62 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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