Written by ForexBrokers.com
In this head to head comparison of IG 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.
IG, founded in 1974, stands out in the online brokerage landscape with a long history and a strong reputation for safety. It is publicly traded and operates as a bank, which further enhances its credibility. Holding an impressive eight Tier-1 licenses, IG is highly trusted according to ForexBrokers.com standards and achieves a near-perfect Trust Score rating of 99 out of 99. This combination of factors makes it a compelling choice for those prioritizing security and trust in their trading platform.
MultiBank, established in 2005, is another player in the online brokerage arena, but it has a different profile compared to IG. Not publicly traded and not a bank, MultiBank still manages to earn a decent level of trust, holding three Tier-1 licenses. Although it doesn't reach the same level of trust as IG, with a Trust Score of 84, it is considered a trusted broker by ForexBrokers.com. MultiBank could be a suitable alternative for traders looking for a reliable, albeit younger, brokerage option.
| Feature |
IG
|
MultiBank
|
|---|---|---|
| Year Founded | 1974 | 2005 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 3 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 3 |
When it comes to comparing the commissions and fees of online brokers IG and MultiBank, IG stands out with a 5-star rating and ranks #8 among 63 brokers according to ForexBrokers.com. IG offers multiple execution options and excels with its Forex Direct accounts for active traders. In July 2023, the main Forex Direct account had average spreads of 0.62 pips, with an all-in cost of 0.82 pips when considering a per trade commission of 0.2 pips. For Contract for Difference (CFD) accounts, typical spreads during main trading sessions averaged 0.69 pips. Qualified volume traders can benefit from IG's active-trader rebate program, offering significant discounts for high trading volumes.
IG also provides a Direct Market Access (DMA) account through its Forex Direct offering, ideal for more experienced traders seeking greater discounts. With a minimum deposit of £1,000, the DMA account offers average spreads of 0.62 pips on EUR/USD for July 2023. Commissions in the DMA account vary based on trading volume, with opportunities for reduced rates for higher volumes. Meanwhile, MultiBank is slightly behind with a 4-star rating and ranks #38. MultiBank offers three account types: Standard, Pro, and ECN. The Standard account's higher spreads may not appeal to experienced traders; however, the Pro account offers lower spreads with a $1,000 deposit. The ECN account requires a $10,000 deposit but provides the lowest spreads paired with a $3 round-trip commission.
Despite IG not being the cheapest option, it remains a favorable choice for both new and seasoned traders with its competitive active trader pricing and rebate programs. On the other hand, MultiBank's varied offerings might be more suitable for budget-conscious traders or those starting their trading journey. Both platforms provide valuable services but cater to different needs in the trading community.
| Feature |
IG
|
MultiBank
|
|---|---|---|
| Minimum Deposit | £250.00 | $50 |
| Average Spread EUR/USD - Standard | 0.98 | N/A |
| All-in Cost EUR/USD - Active | 0.82 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing IG and MultiBank for their range of investments, IG stands out with a significantly larger selection. IG offers 19,537 tradable symbols, providing investors with a vast array of opportunities, from forex pairs to exchange-traded securities on U.S. and international exchanges. This includes the ability to purchase popular stocks such as Apple and Vodafone. Furthermore, IG allows clients to trade both actual and derivative cryptocurrencies, although it does not support copy trading. MultiBank, on the other hand, offers 1,042 tradable symbols, with access to forex trading in CFDs or spot contracts, and the ability to trade both actual and derivative cryptocurrencies. Unlike IG, MultiBank provides copy trading services, allowing users to mimic the trades of successful investors.
IG’s expansive offering earns it a 5-star rating for Range of Investments from ForexBrokers.com, ranking 4th out of 63 brokers. In contrast, MultiBank holds a 4-star rating and is ranked 37th by the same review site. While both platforms enable forex and cryptocurrency trading, IG provides a broader selection, especially in stock markets. This makes it an excellent choice for those looking to diversify their portfolios across global financial markets, whereas MultiBank may appeal more to those interested in copy trading and a straightforward approach to forex and cryptocurrency trading.
| Feature |
IG
|
MultiBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 1042 |
| Forex Pairs (Total) | 97 | 40 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | Yes | 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 offered by IG and MultiBank, several distinctions become evident. Both brokers provide a free virtual demo account and have developed their own in-house trading platforms. They also offer platforms for Windows-based desktop download and web-based trading, though only MultiBank includes the MetaTrader 5 platform, known for its advanced features. While IG does not support copy trading, MultiBank integrates this feature, allowing users to mimic successful traders. Both brokers support trading directly from stock charts, but IG offers 20 drawing tools for chart analysis, slightly surpassing MultiBank's 17 tools. On the other hand, MultiBank's watch lists allow for more customization with up to 7 columns compared to IG's 5.
IG's trading platforms and tools shine with a top rating of 5 stars, ranking it 2nd among 63 brokers reviewed by ForexBrokers.com. This recognition highlights IG's comprehensive offerings for traders at all levels. Meanwhile, MultiBank garners a respectable 4-star rating, positioned at 39th. While MultiBank brings unique features like MetaTrader 5 and copy trading to the table, IG's platforms stand out for their broader appeal and higher ranked performance in the trading community.
| Feature |
IG
|
MultiBank
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 33 | 38 |
| Charting - Drawing Tools (Total) | 20 | 17 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both IG and MultiBank offer iPhone and Android apps for their mobile trading services, supporting traders who use various devices. They provide features like stock and forex price alerts and allow users to draw trendlines and view multiple time frames on charts. However, IG stands out with seamless watchlist syncing between mobile and online accounts, ensuring users' changes are reflected across all platforms, a feature MultiBank lacks. IG also offers slightly more technical studies, with 33 compared to MultiBank's 30. Additionally, both apps allow for the creation of watchlists with real-time quotes and auto-save drawings for ease of use and continuity.
IG is especially praised for its mobile trading app by receiving a 5-star rating, reflecting its user-friendly design and comprehensive features. It ranks as the top broker out of 63 firms in the Mobile Trading Apps category on ForexBrokers.com, while MultiBank, with a still-respectable 4-star rating, is ranked at 41. While both apps are solid choices, IG’s app provides a slightly more polished experience that appeals more broadly to traders seeking advanced features and seamless integration.
| Feature |
IG
|
MultiBank
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 33 | 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 comparing the market research offerings of IG and MultiBank, IG emerges as a more comprehensive choice for traders. IG provides daily market commentary, which MultiBank does not, ensuring that traders stay informed about market movements every day. Both brokers offer forex news from top-tier sources, but IG has the edge with additional tools such as Autochartist for technical analysis, while MultiBank lacks this feature. IG also stands out with a sentiment-based trading tool that indicates market trends through position ratios, an aspect missing from MultiBank's offerings. Furthermore, IG provides valuable insights through TipRanks and research tools like Signal Centre from Acuity Trading, whereas these are not available with MultiBank.
For traders keen on thorough market analysis, IG's extensive range of resources contributes to its high rating of 5 stars for research, compared to MultiBank’s 3.5 stars. IG also ranks impressively at number 2 out of 63 brokers for its research offerings according to ForexBrokers.com, greatly surpassing MultiBank's position at number 49. Both brokers do offer economic calendars covering global news events, ensuring traders don't miss crucial economic indicators. Overall, IG’s blend of daily commentary, analytical tools, and high-quality research sources positions it as a standout choice for those seeking detailed market insights.
| Feature |
IG
|
MultiBank
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, IG and MultiBank both offer a variety of learning materials focused on forex and CFDs. Both brokers provide over ten educational pieces, which include articles, videos, and potentially archived webinars centered around these topics. IG excels with monthly online educational webinars and maintains a searchable archive of these sessions, something MultiBank does not offer. Additionally, both brokers offer more than ten educational videos aimed specifically at beginners, but only IG provides an equal number of advanced videos for those ready to delve into more complex trading strategies.
IG is notable for its comprehensive educational resources, including a well-rounded investor dictionary that defines over 50 investing terms, a feature absent from MultiBank's offerings. This commitment to education earns IG a top rating of 5 stars and the #1 rank among 63 brokers by ForexBrokers.com, reflecting its leadership in supporting beginner traders. Meanwhile, MultiBank earns a respectable 3.5-star rating, ranking at #50, indicating room for improvement in expanding its educational offerings to better serve novice traders.
| Feature |
IG
|
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 IG is better than MultiBank. IG finished with an overall rank of #1, while MultiBank finished with an overall rank of #40.
IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets.
| Feature |
IG
|
MultiBank
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 99 | 84 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Both IG and MultiBank provide options for purchasing actual cryptocurrency as well as cryptocurrency derivatives, offering investors flexibility in how they engage with the digital asset market.
IG and MultiBank both support ACH and SEPA transfers, Visa or Mastercard, and bank wires for depositing or withdrawing funds, but they differ in that IG offers PayPal while MultiBank offers Skrill.
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | IG | MultiBank | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 84 | |
| Winner | check_circle | ||
| Review | IG Review | MultiBank Review |
| Broker Screenshots | IG | MultiBank | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
|
| |
| Mobile Trading Gallery (click to expand) |
|
| |
| Research Gallery (click to expand) |
|
| |
| Education Gallery (click to expand) |
|
|
| Regulation | IG | MultiBank | |
|---|---|---|---|
| Trust Score | 99 | 84 | |
| Year Founded | 1974 | 2005 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 8 | 3 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 3 |
| Tier-1 Licenses (Highly Trusted) | IG | MultiBank | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | IG | MultiBank | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IG | MultiBank | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 1042 | |
| Forex Pairs (Total) | 97 | 40 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | Yes | 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 | IG | MultiBank | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | N/A | |
| All-in Cost EUR/USD - Active | 0.82 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IG | MultiBank | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $50 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | IG | MultiBank | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | IG | MultiBank | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 7 | |
| Charting - Indicators / Studies (Total) | 33 | 38 | |
| Charting - Drawing Tools (Total) | 20 | 17 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IG | 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 | 33 | 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 | IG | MultiBank | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IG | 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 | IG | 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 | IG Review | MultiBank Review |
| Overall | IG | MultiBank | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 84 | |
| Winner | check_circle | ||
| Review | IG Review | MultiBank Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill