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 trading commissions and fees, IG stands out as a leading online broker with a 5-star rating and an impressive #8 ranking out of 62 brokers according to ForexBrokers.com. IG offers a variety of execution methods, catering to different trader preferences. The Forex Direct account provides active traders competitive pricing with average spreads of 0.62 pips for EUR/USD, plus an additional cost equivalent to 0.2 pips in commissions. The DMA account further benefits seasoned traders, with lower commission rates for high trading volumes.
IG offers average CFD spreads of 0.69 pips during peak trading hours, slightly better than the industry average. For those who qualify as professional traders, IG's active-trader rebate program offers lucrative rebates of up to 20% for significant monthly trading volumes. Such flexibility makes IG a great choice for both active and high-volume traders seeking cost-effective options.
MultiBank, on the other hand, is rated 4 stars and holds the #38 position for commissions and fees. Offering Standard, Pro, and ECN accounts, MultiBank accommodates various trading levels. The Standard account starts with a $50 minimum deposit but has higher spreads, while the Pro account requires a $1,000 deposit for lower spreads. The ECN account, offering the lowest spreads, requires a $10,000 deposit and charges a modest $3 round-trip commission. However, potential clients should note a $60 monthly inactivity fee. MultiBank's structure provides diverse options, particularly for those ready to invest more for reduced trading costs.
| 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 the range of investments offered by IG and MultiBank, IG stands out with a significantly larger selection of tradeable symbols, boasting 19,537 compared to MultiBank's 1,042. Both platforms allow users to trade forex either as a CFD or spot contract, but IG offers a much broader array of 97 forex pairs, whereas MultiBank provides 40. Furthermore, IG enables clients to invest in exchange-traded securities from both U.S. and international markets, such as buying shares of companies like Apple and Vodafone directly. In contrast, MultiBank does not offer such direct investments in exchange-traded securities on either U.S. or international exchanges.
Despite MultiBank offering unique features like copy trading and the purchase of actual cryptocurrencies—not just derivatives, IG's extensive range of investment options earns it a five-star rating for its range of investments. MultiBank, while solid, receives a four-star rating. On a broader scale, IG is ranked #4 out of 62 brokers by ForexBrokers.com, highlighting its strong position in the market, while MultiBank is ranked #37. This comparison underscores IG's extensive array of investment options, appealing to those looking for a wide variety of opportunities within a single platform.
| 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) | 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.
IG and MultiBank both provide investors with comprehensive trading platforms, including proprietary solutions. They offer simulated trading through free virtual demo accounts, making them accessible for those new to trading. Both brokers also support MetaTrader 4 (MT4), with IG additionally offering a downloadable desktop platform for Windows and a browser-based interface. However, MultiBank has a slight edge in variety by also supporting MetaTrader 5 (MT5) and enabling copy trading, features which are not available with IG.
When it comes to trading tools, IG boasts an impressive five-star rating for its platforms, placing it second out of 62 brokers. MultiBank, with a four-star rating, ranks at #39, showing it has room for improvement. IG surpasses MultiBank in features like drawing tools, offering 20 compared to MultiBank's 17, although MultiBank's watchlists offer greater flexibility with seven columns for customization compared to IG’s five. Both brokers allow users to trade directly from stock charts, but IG’s high ranking underscores its superior platform experience overall.
| 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 provide mobile apps for iPhone and Android users, catering to traders who prefer to manage their investments on the go. Both platforms allow users to set up stock and forex price alerts directly from their apps, ensuring that you never miss an important market move. While IG's mobile app boasts the ability to sync watchlist symbols with a client's online account, offering seamless transitions between devices, MultiBank does not currently support this feature. Chart enthusiasts will find a range of technical studies available; IG offers 33 different studies compared to MultiBank's 30. Both apps allow drawing trendlines and viewing various time frames on charts, plus they support the auto-saving of these drawings.
Creating a watchlist with real-time quotes is straightforward on both platforms, enhancing the user experience and providing key market insights at your fingertips. When it comes to user ratings, IG stands out with a perfect 5-star rating for its mobile trading app, cementing its reputation at the top of ForexBrokers.com's list, where it is ranked #1 out of 62 brokers. MultiBank, while maintaining a strong offering, trails with a 4-star rating and holds the #41 rank in the same category. This makes IG's mobile app a favored choice for traders seeking comprehensive tools and seamless trading experiences.
| 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 market research offerings, IG outshines MultiBank in several key areas that can enhance a trader's experience. IG provides daily market commentary, giving users timely insights into the evolving market landscape, whereas MultiBank does not offer this feature. Both brokers deliver forex news from top-tier sources such as Bloomberg, Reuters, and Dow Jones, ensuring that traders stay informed with credible information. However, IG has an edge with advanced tools from Autochartist for technical analysis, something that MultiBank lacks. In addition, IG offers a sentiment-based trading tool for tracking long and short positions, market research from TipRanks, and research tools from Acuity Trading, which MultiBank does not provide.
IG and MultiBank both offer an economic calendar to keep traders updated on global events; however, IG’s comprehensive toolkit earns it a research rating of 5 stars, compared to MultiBank's 3.5 stars. This is reflected in their rankings by ForexBrokers.com, where IG impressively stands at second place out of 62 brokers, while MultiBank trails at 49th. Overall, IG's diverse research tools and reliable market insights make it a more appealing choice for traders seeking well-rounded support to navigate the financial markets.
| 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 comparing educational resources for beginners, IG stands out as a superior choice. IG offers a wide range of educational materials on forex and CFDs, including articles, videos, and archived webinars, making them easily accessible to clients. They also conduct regular online webinars to keep their clients informed and engaged, and provide a comprehensive archive of past sessions. Beginners will find IG's extensive video library particularly helpful, as it covers a range of topics from foundational concepts to advanced strategies. Furthermore, IG provides an investor dictionary with definitions of key investing terms, allowing novices to enhance their understanding of the trading world. With these resources, it's no surprise that IG holds a 5-star education rating and is ranked number one by ForexBrokers.com for their educational offerings.
On the other hand, MultiBank also delivers essential educational content, but it falls short in certain areas compared to IG. While MultiBank meets the standard for offering a variety of educational pieces on forex and CFDs and provides beginner-focused videos, it lacks regular educational webinars and a searchable archive of past sessions. Additionally, MultiBank does not offer an investor dictionary, which might leave novice traders seeking additional resources elsewhere. Their educational content is recognized with a 3.5-star rating and ranks them at the 50th position by ForexBrokers.com, highlighting room for improvement when compared to IG's offerings. Overall, if educational resources are a priority, IG clearly provides a more comprehensive and supportive learning platform for beginner 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 62 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 |
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| Trust Score | 99 | 84 |
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While IG does not offer the ability to buy actual delivered cryptocurrency but provides options for trading cryptocurrency derivatives, MultiBank allows buying both actual cryptocurrency and cryptocurrency derivatives, offering a more comprehensive range for digital asset investment.
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.
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0 of 5| Overall Rating | IG | MultiBank | |
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| Trust Score | 99 | 84 | |
| Winner | check_circle | ||
| Review | IG Review | MultiBank Review |
| Broker Screenshots | IG | MultiBank | |
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| 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) | 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 | 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 | |
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| Trust Score | 99 | 84 | |
| Winner | check_circle | ||
| Review | IG Review | MultiBank Review |
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