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IC Markets vs MultiBank 2025

ForexBrokers.com

Written by ForexBrokers.com

February 05, 2025

In this head to head comparison of IC Markets vs MultiBank, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.

IC Markets
4.5/5 Stars Overall
  • Minimum Deposit: $200
  • Trust Score: 84
  • Tradeable Symbols (Total): 3583
MultiBank
4/5 Stars Overall
  • Minimum Deposit: $50
  • Trust Score: 84
  • Tradeable Symbols (Total): 1042

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.

Regulation

IC Markets and MultiBank are established players in the online brokerage scene, launching in 2007 and 2005 respectively. Neither company is publicly traded or operates as a bank. Both brokers share a solid reputation, securing an "trusted" Trust Score of 84 out of 99 from ForexBrokers.com, indicating a reliable level of trust worthiness for investors.

In terms of regulation, IC Markets holds two Tier-1 licenses, while MultiBank boasts a slightly higher regulatory stature with three Tier-1 licenses. Additionally, MultiBank possesses one Tier-2 license, adding to its regulatory credentials, whereas IC Markets does not hold any Tier-2 licenses. These regulatory distinctions reflect each broker's commitment to maintaining trusted standards in the financial industry.

Feature IC Markets logoIC Markets
MultiBank logoMultiBank
Year Founded info 2007 2005
Publicly Traded (Listed) info No No
Bank info No No
Tier-1 Licenses info 2 3
Tier-2 Licenses info 0 1
Tier-3 Licenses info 0 0
Tier-4 Licenses info 3 3

Fees

IC Markets vs. MultiBank on cost: IC Markets is a low-cost standout, earning Best in Class for Commissions & Fees in the 2024 Annual Awards. It holds a 5/5 star rating and ranks #5 out of 63 brokers for this category. MultiBank is competitive but trails here, with a 4/5 star rating and a #39 ranking.

IC Markets offers three account types: Standard (spread-only) and two commission-based options—Raw Spread on MT4/MT5 and cTrader Raw. The cTrader Raw account charges $3.00 per side per 100,000 units ($6 round-turn), while the MT4/MT5 Raw account charges $3.50 per side ($7 round-turn). IC Markets lists an average EUR/USD spread of 0.02 pips; when you add commission, the all-in cost is about 0.62 pips on cTrader (or 0.72 on MT4/MT5). The Standard account averages 0.62 pips with no commission. Costs vary by platform, account type, and global entity (Cyprus, Australia, Seychelles). Active traders who exceed 100 lots per month can receive discounts, and the deposit requirement for commission accounts is low.

MultiBank also has three account types: Standard (higher spreads; $50 minimum deposit), Pro (lower spreads; $1,000 minimum), and ECN (lowest spreads; $10,000 minimum) that adds a small $3 round‑trip commission per trade. Note that MultiBank charges a $60 monthly inactivity fee after 90 days without trading. In short, IC Markets emphasizes tight all‑in pricing and award-winning fee competitiveness across low-deposit accounts, while MultiBank’s best pricing sits behind its higher‑minimum ECN tier and includes a notable inactivity fee.

Feature IC Markets logoIC Markets
MultiBank logoMultiBank
Minimum Deposit info $200 $50
Average spread (EUR/USD) - Standard account info 0.62 info N/A
All-in Cost EUR/USD - Active info 0.62 info N/A
Non-wire bank transfer info No Yes
PayPal (Deposit/Withdraw) info Yes
Skrill (Deposit/Withdraw) info Yes
Bank Wire (Deposit/Withdraw) info Yes

Dive deeper: Best Low Spread Forex Brokers.

Featured Offers


Range of investments

Comparing investment range, IC Markets lists 3,583 tradeable symbols and 61 forex pairs, while MultiBank offers 1,042 symbols and 40 forex pairs. Both support forex trading as CFDs or spot and both have copy trading. Based on ForexBrokers.com, IC Markets earns 4.5/5 stars and ranks #26 out of 63 brokers for range of investments, versus MultiBank’s 4/5 stars and #38 ranking.

For asset access, neither broker lets you buy U.S.-listed shares directly (non-CFD). IC Markets does allow direct investing in some international shares, whereas MultiBank does not. In crypto, IC Markets provides crypto via CFDs only, while MultiBank offers both actual cryptocurrency purchases and crypto CFDs. In short, choose IC Markets if you want more symbols, more forex pairs, and access to certain international shares, or pick MultiBank if buying real crypto alongside CFDs matters to you.

Feature IC Markets logoIC Markets
MultiBank logoMultiBank
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 3583 1042
Forex Pairs (Total) info 61 40
U.S. Stocks (Shares) info No No
Global Stocks (Non-U.S. Shares) info Yes No
Copy Trading info Yes Yes
Cryptocurrency (Underlying) info No Yes
Cryptocurrency (CFDs) info 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.

Trading platforms and tools

IC Markets and MultiBank both let you practice with a free demo (paper trading) account. IC Markets sticks to third-party platforms, offering MetaTrader 4 (MT4) and MetaTrader 5 (MT5) on Windows desktop downloads and in a web browser, with copy trading and the ability to place orders directly from charts. MultiBank adds a proprietary platform of its own alongside MT4 and MT5, also available for Windows desktop and the web, and likewise supports copy trading and chart trading. Indicator libraries and watchlist layouts depend on the platform you pick, with MetaTrader providing the familiar set of tools most traders expect.

For Trading Platforms and Tools, both brokers earn 4 out of 5 stars, but their category ranks differ: IC Markets is ranked 16th out of 63 brokers by ForexBrokers.com, while MultiBank is ranked 40th. If you want an in-house platform option, MultiBank has one; if you prefer a MetaTrader-focused setup with a higher category ranking, IC Markets has the edge.

Feature IC Markets logoIC Markets
MultiBank logoMultiBank
Virtual Trading (Demo) info Yes Yes
Proprietary Desktop Trading Platform info No Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Copy Trading info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info Yes Yes
Charting - Indicators / Studies (Total) info 30 38
Charting - Trade From Chart info Yes Yes

Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.

Forex trading apps

The IC Markets mobile app and the MultiBank mobile app are both available for iPhone and Android. You can set forex and stock price alerts in each app. Both offer watchlists, but watchlist symbol syncing with your web account is not available.

Charting features are similar: 30 technical studies, trendline drawing, and drawings auto‑save on mobile. ForexBrokers.com gives both apps 4 out of 5 stars, yet IC Markets ranks higher in the Mobile Trading Apps category (#22 of 63) than MultiBank (#42 of 63). If you want equal charting and alerts, either app works; if rankings matter, IC Markets holds the advantage.

Feature IC Markets logoIC Markets
MultiBank logoMultiBank
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Price Alerts info Yes Yes
Mobile Watchlists - Syncing info No No
Mobile Charting - Indicators / Studies info 30 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Trendlines Autosave info Yes Yes

Dive deeper: Best Forex Trading Apps.

Market research

Comparing IC Markets vs. MultiBank for market research: IC Markets provides daily market commentary, while MultiBank does not. Both brokers stream forex news from top-tier sources like Bloomberg or Reuters and include an economic calendar. IC Markets adds several extras that MultiBank lacks, including Autochartist, Trading Central analytics, and a sentiment tool showing the ratio of long vs. short positions. Neither broker offers TipRanks.

These differences show up in third-party ratings: IC Markets earns 4 stars for Research and ranks #23 out of 63 brokers at ForexBrokers.com, while MultiBank earns 3.5 stars and ranks #50. If you want daily insights plus built-in analysis and sentiment tools, IC Markets is the stronger pick. If you mainly need quality news and a calendar, MultiBank covers the basics.

Feature IC Markets logoIC Markets
MultiBank logoMultiBank
Daily Market Commentary (Articles) info Yes No
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes No
Trading Central info Yes No
Client sentiment data info Yes No
TipRanks info No No
Acuity Trading info No
Economic Calendar info Yes Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

IC Markets is the stronger pick for beginner traders who want structured forex and CFD education. It hosts client webinars at least once a month and offers at least 10 beginner video lessons plus 10+ advanced videos, helping you move from basics to more in-depth strategies. IC Markets is rated 4 out of 5 stars for Education and ranks 16th out of 63 brokers by ForexBrokers.com.

MultiBank provides a solid starting point with at least 10 beginner videos that explain trading fundamentals, but it does not run regular client webinars and does not offer 10+ advanced videos. Reflecting this lighter lineup, MultiBank holds a 3.5 out of 5 Education rating and ranks 50th out of 63. If you’re choosing based on learning support and a clear path as you progress, IC Markets has the edge.

Feature IC Markets logoIC Markets
MultiBank logoMultiBank
Webinars info Yes No
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes No

Dive deeper: Best Forex Brokers for Beginners.

Winner

After testing 63 of the best forex brokers, our research and account testing finds that IC Markets is better than MultiBank. IC Markets finished with an overall rank of #20, while MultiBank finished with an overall rank of #40.

IC Markets’ competitive pricing and scalable execution make it an excellent option for algorithmic traders. Though it supports an impressive range of third-party tools and plugins, IC Markets’ research and education offerings are not as impressive as those offered by industry leaders.

Feature IC Markets logoIC Markets
MultiBank logoMultiBank
Overall Rating info 4.5/5 Stars 4/5 Stars
Trust Score info 84 84
Range of Investments 4.5/5 Stars 4/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Platforms & Tools 4/5 Stars 4/5 Stars
Research 4/5 Stars 3.5/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Education 4/5 Stars 3.5/5 Stars

FAQs

Can you trade cryptocurrency with IC Markets or MultiBank?

In the IC Markets vs MultiBank comparison for cryptocurrency trading, IC Markets offers only cryptocurrency CFDs and does not support buying actual (delivered) crypto, whereas MultiBank supports purchasing real cryptocurrency and also offers crypto CFDs.

What funding options does each broker offer?

IC Markets vs MultiBank: MultiBank is listed as offering ACH/SEPA transfers while IC Markets does not; IC Markets supports PayPal, Skrill, and bank wires, whereas MultiBank’s availability of PayPal, Skrill, Visa/Mastercard, and bank wires is not specified.

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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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Overall Rating IC Markets MultiBank
Overall Rating info 4.5/5 Stars 4/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Range of Investments 4.5/5 Stars 4/5 Stars
Platforms & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 4/5 Stars 3.5/5 Stars
Education 4/5 Stars 3.5/5 Stars
Trust Score info 84 84
Winner check_circle
Review IC Markets Review MultiBank Review
Broker Screenshots IC Markets MultiBank
Broker Gallery (click to expand) info
IC Markets cTrader mobile app charting IC Markets EU cTrader desktop trading platform layout IC Markets webinar IC Your Trade YouTube video series. IC Markets Educational content blog articles.
MultiBank MetaTrader 4 (MT4) mobile app charts. MultiBank Plus platform login. MultiBank Plus platform news reserach. MultiBank Group educational ebooks web portal powered by MTE Media
Regulation IC Markets MultiBank
Trust Score info 84 84
Year Founded info 2007 2005
Publicly Traded (Listed) info No No
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes
Tier-1 Licenses info 2 3
Tier-2 Licenses info 0 1
Tier-3 Licenses info 0 0
Tier-4 Licenses info 3 3
Tier-1 Licenses (Highly Trusted) IC Markets MultiBank
Australia (ASIC Authorised) info Yes Yes
Canada (CIRO Authorised) info No No
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info No Yes
Switzerland (FINMA Authorised) info
United Kingdom (U.K.) (FCA Authorised) info No No
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes
Tier-2 Licenses (Trusted) IC Markets MultiBank
Kenya (CMA Authorised) info
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No No
UAE (DFSA, FSRA, or SCA Authorised) info No Yes info
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info
Investments IC Markets MultiBank
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 3583 1042
Forex Pairs (Total) info 61 40
U.S. Stocks (Shares) info No No
Global Stocks (Non-U.S. Shares) info Yes No
Copy Trading info Yes Yes
Cryptocurrency (Underlying) info No Yes
Cryptocurrency (CFDs) info 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 IC Markets MultiBank
Average spread (EUR/USD) - Standard account info 0.62 info N/A
All-in Cost EUR/USD - Active info 0.62 info N/A
Inactivity Fee info No Yes
Order execution: Agency info Yes No
Order execution: Market Maker info Yes Yes
Funding IC Markets MultiBank
Minimum Deposit info $200 $50
PayPal (Deposit/Withdraw) info Yes
Skrill (Deposit/Withdraw) info Yes
Bank Wire (Deposit/Withdraw) info Yes
Non-wire bank transfer info No Yes
Trading Platforms IC Markets MultiBank
Proprietary Desktop Trading Platform info No Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Copy Trading info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info Yes Yes
cTrader info Yes No
Trading Tools IC Markets MultiBank
Virtual Trading (Demo) info Yes Yes
Price Alerts info Yes Yes
Charting - Indicators / Studies (Total) info 30 38
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading IC Markets MultiBank
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Price Alerts info Yes Yes
Mobile Watchlist [DELETED] info
Mobile Watchlists - Syncing info No No
Mobile Charting - Indicators / Studies info 30 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Trendlines Autosave info Yes Yes
Mobile Research - Economic Calendar info Yes Yes
Research IC Markets MultiBank
Daily Market Commentary (Articles) info Yes No
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes No
Trading Central info Yes No
TipRanks info No No
Client sentiment data info Yes No
Economic Calendar info Yes Yes
Education IC Markets MultiBank
Webinars info Yes No
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes No
Major Forex Pairs IC Markets MultiBank
GBP/USD [DELETED] info
USD/JPY [DELETED] info
EUR/USD info Yes Yes
USD/CHF [DELETED] info
USD/CAD [DELETED] info
NZD/USD [DELETED] info
AUD/USD [DELETED] info
Review IC Markets Review MultiBank Review
Overall IC Markets MultiBank
Overall Rating info 4.5/5 Stars 4/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Range of Investments 4.5/5 Stars 4/5 Stars
Platforms & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 4/5 Stars 3.5/5 Stars
Education 4/5 Stars 3.5/5 Stars
Trust Score info 84 84
Winner check_circle
Review IC Markets Review MultiBank Review
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