IC Markets vs MultiBank 2023

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, IC Markets offers better pricing overall for traders.

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. MultiBank holds 2 global Tier-1 licenses, while IC Markets holds 1. Both IC Markets and MultiBank hold 1 global Tier-2 licenses. In our analysis of 23 international regulators across 50 brokers, IC Markets earned a higher Trust Score than MultiBank.

To compare the trading platforms of both IC Markets and MultiBank, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, IC Markets offers a better experience. With research, IC Markets offers superior market research. Finally, we found IC Markets to provide better mobile trading apps.

For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Both IC Markets and MultiBank offer MetaTrader 4 (MT4).IC Markets and MultiBank both offer copy trading.

IC Markets provides traders 61 currency pairs (e.g., EUR/USD) compared to MultiBank's 41 available pairs. Forex pairs aside, IC Markets offers traders access to 3583 CFDs while MultiBank has 1042 available CFDs, a difference of 2541.

IC Markets is not publicly traded and does not operate a bank. IC Markets is authorised by one tier-1 regulator (high trust), one tier-2 regulator (average trust), and one tier-3 regulator (low trust). IC Markets is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC).

MultiBank Group is not publicly traded, does not operate a bank, and is authorised by two tier-1 regulators (high trust), one tier-2 regulator (average trust), and three tier-3 regulators (low trust). MultiBank Group is authorised by the following tier-1 regulators: the Australian Securities & Investment Commission (ASIC) and the Monetary Authority of Singapore (MAS). Learn more about Trust Score.

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.

MultiBank Group, in operation since 2005, is home to numerous global brands and regulated in jurisdictions all over the world. A multi-asset broker, MultiBank offers forex and CFDs through the MetaTrader and cTrader platform suites (though not all markets are readily available) as well as underlying crypto assets via its regulated crypto exchange. On the negative side, the broker’s market research offering is unimpressive and educational content is entirely absent; MultiBank’s poor performance in these important categories drags down its Overall rating.