Written by ForexBrokers.com
In this head to head comparison of MultiBank vs iFOREX, 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.
When it comes to choosing between MultiBank and iFOREX for online trading, several factors can influence a trader's decision. Founded in 2005, MultiBank boasts an impressive array of regulatory credentials, possessing three Tier-1 licenses and one Tier-2 license, which contributes to its Trust Score of 84 from ForexBrokers.com, rating it as a trusted brokerage. Although not publicly traded or a bank, MultiBank's licenses and fairly high Trust Score suggest a reliable option for traders.
On the other hand, iFOREX, established in 1996, holds one Tier-1 license without any Tier-2 backings, garnering a Trust Score of 75. While similar to MultiBank in not being publicly traded or a banking institution, iFOREX's single Tier-1 license positions it as a broker with an average risk level as per ForexBrokers.com's standards. Traders seeking a platform with a higher degree of regulatory oversight might lean towards MultiBank given its more extensive licensing and higher Trust Score.
| Feature |
MultiBank
|
iFOREX
|
|---|---|---|
| Year Founded | 2005 | 1996 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 1 |
MultiBank provides a range of account options designed to suit varying trading needs. They offer three account types: Standard, Pro, and ECN. The Standard account requires a modest $50 minimum deposit but comes with higher spreads, making it more suitable for beginners. The Pro account, which requires a $1,000 minimum deposit, offers lower spreads, benefitting traders with some experience. Their ECN account offers the lowest spreads, accompanied by a $10,000 minimum deposit and a small $3 round-trip commission per trade. However, traders should be aware of the $60 per month inactivity fee that applies if there's no trading activity for 90 days. MultiBank earns a 4-star rating for commissions and fees and is ranked 38th out of 63 brokers by ForexBrokers.com.
In contrast, iFOREX lacks specific average spread data, making a direct comparison more challenging. This absence of detailed spread information may hinder potential traders looking to weigh their options carefully. Despite this, iFOREX maintains a competitive position in the market but falls short of top competitors in terms of cost efficiency. With a 3-star rating for commissions and fees, iFOREX is positioned at 61st among 63 brokers in the ForexBrokers.com ranking for this category.
Ultimately, whether MultiBank or iFOREX is the better choice depends on a trader's experience level, investment capability, and tolerance for additional fees. MultiBank, with its variety of account types and transparent fee structure, may appeal more to traders seeking clear cost-cutting opportunities. On the other hand, iFOREX might require further evaluation due to a lack of available detailed spread information, especially for those focused on minimizing trading costs.
| Feature |
MultiBank
|
iFOREX
|
|---|---|---|
| Minimum Deposit | $50 | $100 |
| Average Spread EUR/USD - Standard | N/A | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| 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 MultiBank and iFOREX for their range of investment options, both brokers provide opportunities for trading forex as CFDs or spot contracts. MultiBank stands out with a total of 1,042 tradeable symbols, whereas iFOREX offers 750. However, iFOREX excels in the number of tradeable forex pairs, providing 88 compared to MultiBank's 40. Neither broker offers exchange-traded securities on U.S. or international exchanges, limiting investors looking for direct stock investments. MultiBank allows for copy trading, a feature absent from iFOREX, and gives the option to buy delivered cryptocurrencies, while iFOREX only offers trading in cryptocurrency derivatives.
With a focus on investment variety, MultiBank is rated four stars for its range of investments, ranking 37 out of 63 brokers, while iFOREX receives a 3.5-star rating, ranking 41. This suggests MultiBank may offer a slightly broader selection of investment opportunities compared to iFOREX. For traders interested in cryptocurrency and copy trading, MultiBank might provide a more diverse platform. Meanwhile, forex traders can find a wealth of currency pairs with iFOREX.
| Feature |
MultiBank
|
iFOREX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1042 | 750 |
| Forex Pairs (Total) | 40 | 88 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | No |
| Cryptocurrency (Physical) | Yes | No |
| 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 MultiBank and iFOREX in terms of their trading platforms and tools, both brokers offer unique advantages to prospective traders. MultiBank allows users to test their strategies with a free virtual demo account, a feature not available with iFOREX, offering an accessible way to familiarize oneself with trading mechanics. Both brokers provide proprietary platforms; however, MultiBank extends its offerings with platform variety by including a downloadable Windows-based option, alongside the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5). This variety can enhance the user's trading experience through flexibility and familiarity, especially for those who prefer industry-standard tools. Meanwhile, iFOREX focuses on a web-based platform, allowing for straightforward access without installation requirements. Unfortunately, iFOREX does not support copy trading, a service offered by MultiBank that lets traders mimic the trades of seasoned professionals.
Both brokers allow trading directly from stock charts, enabling a seamless transition from analysis to execution. iFOREX edges out MultiBank in charting capabilities with 25 drawing tools compared to MultiBank’s 17. Additionally, iFOREX watch lists can feature two more columns than those at MultiBank, providing wider field choices for monitoring various assets. Despite these differences, both MultiBank and iFOREX share a 4-star rating for trading platforms and tools, according to industry benchmarks. However, MultiBank holds a higher position at #39, compared to iFOREX's #54 ranking out of 63 brokers according to ForexBrokers.com, suggesting that while both deliver quality, MultiBank might offer a slightly more compelling all-around package for traders prioritizing tools and platform versatility.
| Feature |
MultiBank
|
iFOREX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 38 | 57 |
| Charting - Drawing Tools (Total) | 17 | 25 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of MultiBank and iFOREX, both offer compatibility with iPhone and Android devices, ensuring broad access for users. MultiBank stands out by providing stock or forex price alerts, a feature that iFOREX does not offer. Although neither broker offers watchlist symbol syncing between the mobile app and the client's online account, they cater to traders with their watchlist functionalities. However, MultiBank further sets itself apart by offering real-time quotes within its watchlists, unlike iFOREX.
In terms of charting capabilities, MultiBank offers a more comprehensive experience with 30 technical studies available and the ability to draw trendlines, view multiple timeframes, and auto-save drawings on charts. iFOREX, on the other hand, does not provide these detailed charting features. Despite these differences, both brokers receive a 4-star rating for their mobile apps. However, the overall user experience can vary, as reflected by their rankings: MultiBank is positioned 41st while iFOREX is ranked 55th out of 63 brokers in the Mobile Trading Apps category by ForexBrokers.com.
| Feature |
MultiBank
|
iFOREX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of MultiBank and iFOREX, users will find distinct differences that cater to specific trading needs. iFOREX stands out by providing daily market commentary, which can be an invaluable resource for traders seeking timely insights. Although MultiBank does not offer daily market commentary, it compensates with its forex news sourced from top-tier providers like Bloomberg and Reuters, providing traders with reliable updates. On the other hand, both brokers give access to an economic calendar, an essential tool to keep track of global news events that could impact market movements.
In terms of additional research tools, iFOREX enhances its analysis suite by offering tools from Trading Central, including technical analytics and a sentiment-based trading tool that provides insight into market positions. Unfortunately, MultiBank lacks these offerings from Trading Central but matches iFOREX in not providing services from Autochartist, Acuity Trading, or TipRanks. Both brokers are rated 3.5 stars for research, with iFOREX slightly edging out MultiBank at rank #48 compared to MultiBank's #49 out of 63 brokers as rated by ForexBrokers.com. This comparison highlights how traders prioritizing commentary and sentiment analysis might gravitate toward iFOREX, while those valuing premium forex news might prefer MultiBank.
| Feature |
MultiBank
|
iFOREX
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both MultiBank and iFOREX offer a decent start for those new to trading. MultiBank provides a range of over ten educational pieces, such as articles and videos, focused on forex and CFDs. They also offer at least ten beginner-friendly videos specifically designed to introduce new traders to key trading concepts. However, MultiBank does not provide regular webinars or archives of recorded sessions, which might leave some users wanting more interactive learning opportunities.
Similarly, iFOREX makes available a collection of beginner-focused videos to help newcomers grasp trading basics. Unfortunately, like MultiBank, iFOREX does not offer regular webinars or recorded session archives. Neither platform provides an extensive trading dictionary, which could be a useful feature for understanding investing terminology. Both MultiBank and iFOREX receive a 3.5-star rating for their educational offerings. However, in the Education category rankings by ForexBrokers.com, MultiBank comes in slightly ahead as the 50th broker, with iFOREX trailing at 53rd out of 63 brokers.
| Feature |
MultiBank
|
iFOREX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | No | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | No | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that MultiBank is better than iFOREX. MultiBank finished with an overall rank of #40, while iFOREX finished with an overall rank of #52.
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.
| Feature |
MultiBank
|
iFOREX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 75 |
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MultiBank provides the option to purchase actual delivered cryptocurrency and trade cryptocurrency derivatives, whereas iFOREX only offers the ability to trade cryptocurrency derivatives without the option to buy actual delivered cryptocurrency.
When comparing online brokers MultiBank and iFOREX, MultiBank supports ACH and SEPA transfers but not PayPal for deposits and withdrawals, while iFOREX offers PayPal but not ACH or SEPA transfers; both brokers accommodate transactions through Skrill, Visa, Mastercard, and bank wires.
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 | MultiBank | iFOREX | |
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| Trust Score | 84 | 75 | |
| Winner | check_circle | ||
| Review | MultiBank Review |
| Broker Screenshots | MultiBank | iFOREX | |
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| Regulation | MultiBank | iFOREX | |
|---|---|---|---|
| Trust Score | 84 | 75 | |
| Year Founded | 2005 | 1996 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 1 |
| Tier-1 Licenses (Highly Trusted) | MultiBank | iFOREX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | No | Yes | |
| 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) | MultiBank | iFOREX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | MultiBank | iFOREX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1042 | 750 | |
| Forex Pairs (Total) | 40 | 88 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | No | |
| Cryptocurrency (Physical) | Yes | No | |
| 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 | MultiBank | iFOREX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | MultiBank | iFOREX | |
|---|---|---|---|
| Minimum Deposit | $50 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | MultiBank | iFOREX | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | MultiBank | iFOREX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 7 | 9 | |
| Charting - Indicators / Studies (Total) | 38 | 57 | |
| Charting - Drawing Tools (Total) | 17 | 25 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | MultiBank | iFOREX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | MultiBank | iFOREX | |
|---|---|---|---|
| Daily Market Commentary | No | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | MultiBank | iFOREX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | No | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | No | No |
| Major Forex Pairs | MultiBank | iFOREX | |
|---|---|---|---|
| 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 | MultiBank Review |
| Overall | MultiBank | iFOREX | |
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| Trust Score | 84 | 75 | |
| Winner | check_circle | ||
| Review | MultiBank Review |
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