Written by ForexBrokers.com
In this head to head comparison of MultiBank vs IronFX, 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.
MultiBank and IronFX are well-known players in the online brokerage industry, each with their own strengths. Established in 2005 and 2010 respectively, neither MultiBank nor IronFX is publicly traded or operates as a bank. When examining regulatory information, both brokers hold three Tier-1 licenses, which are considered highly trusted by ForexBrokers.com standards. However, MultiBank edges out IronFX with an additional Tier-2 license, earning it a slight advantage in overall regulatory backing.
In terms of trustworthiness, MultiBank holds an 84 Trust Score from ForexBrokers.com, placing it in the "trusted" category. IronFX is close behind with a Trust Score of 83. These scores suggest that both brokers are reliable choices for online trading, though MultiBank's slightly higher score and additional Tier-2 license might offer an extra layer of confidence for potential clients comparing the two.
| Feature |
MultiBank
|
IronFX
|
|---|---|---|
| Year Founded | 2005 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 3 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 1 |
When comparing the commissions and fees of MultiBank and IronFX, both brokers offer unique strengths and considerations for traders. MultiBank provides three account types: Standard, Pro, and ECN, catering to various trading needs. The Standard account, with a $50 minimum deposit, has higher spreads and may best suit complete beginners. For more experienced traders, the Pro account requires a $1,000 minimum deposit and features more competitive spreads. The ECN account offers the lowest spreads and imposes a $3 round-trip commission, but it requires a substantial $10,000 minimum deposit. However, traders should be aware of a $60 inactivity fee charged monthly after 90 days of inactivity. MultiBank earns a 4-star rating for its commission and fee structure, ranking #38 out of 62 brokers according to ForexBrokers.com.
IronFX, on the other hand, presents variable and fixed-spread accounts, yet its pricing strategy could benefit from improvements, as spreads appear higher than the industry average. The Standard variable spread account lists a typical spread of 1.8 pips, although spreads vary across different account types. IronFX also offers a zero fixed-spread account starting at zero, but it comes with an $18 per lot commission and spreads that may widen to 3 pips overnight. Despite these offerings, IronFX also garners a 4-star rating but is ranked slightly lower at #47 in the Commissions and Fees category by ForexBrokers.com.
Overall, both brokers receive similar star ratings, but they rank differently in their peer group, with MultiBank scoring higher in the Commissions and Fees category. Considerations for potential traders include the account types and associated costs each platform offers, aligning the choice with personal trading experience and financial capability.
| Feature |
MultiBank
|
IronFX
|
|---|---|---|
| Minimum Deposit | $50 | $50 |
| Average Spread EUR/USD - Standard | N/A | 1.2 |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| 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 IronFX for their range of investments, both brokers offer forex trading as a CFD or spot contract. MultiBank provides a larger variety of tradeable symbols, offering 1,042 compared to IronFX's 340. However, IronFX has the upper hand in tradeable forex pairs, with 83 options versus MultiBank's 40. Neither broker provides access to exchange-traded securities on U.S. or international exchanges, meaning clients cannot purchase actual shares like Apple or Vodafone through these platforms.
In terms of cryptocurrency offerings, MultiBank allows clients to purchase actual cryptocurrencies, along with cryptocurrency derivatives, while IronFX only offers derivatives. Both brokers support copy trading, appealing to those who prefer automated investment strategies. In ratings, MultiBank edges out with a 4-star rating for its range of investments compared to IronFX's 3.5 stars. According to ForexBrokers.com, MultiBank stands at #37 out of 62 brokers in this category, while IronFX ranks at #51, highlighting a stronger investment range from MultiBank.
| Feature |
MultiBank
|
IronFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1042 | 340 |
| Forex Pairs (Total) | 40 | 83 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | Yes |
| 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 the trading platforms and tools of MultiBank and IronFX, both brokers offer free virtual demo accounts to help users get comfortable with their systems. MultiBank provides a proprietary platform designed in-house, whereas IronFX does not have its own custom platform. Both support Windows-based desktop platforms and convenient web-based trading. For popular trading tools, both brokers include MetaTrader 4, but only MultiBank goes further by offering MetaTrader 5. Both firms support copy trading, though neither offers DupliTrade or ZuluTrade. Charting features are evenly matched, with MultiBank offering slightly more drawing tools (17) compared to IronFX's 15, while both allow trading directly from charts. For organizing watch lists, each provides a comprehensive seven fields.
In terms of performance satisfaction, MultiBank receives a four-star rating for its trading platforms and tools, slightly outperforming IronFX's 3.5-star rating. When ranked against 62 other brokers by ForexBrokers.com, MultiBank placed 39th, indicating a more favorable position than IronFX, which came in at 60th. This suggests that MultiBank is perceived to have a more advanced or user-friendly set of trading platforms and features, offering traders a more comprehensive experience, especially with the inclusion of MetaTrader 5.
| Feature |
MultiBank
|
IronFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 38 | 30 |
| Charting - Drawing Tools (Total) | 17 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of MultiBank and IronFX, both brokers offer applications for iPhone and Android devices, ensuring user-friendly experiences across platforms. Traders can enjoy the convenience of receiving stock and forex price alerts on both apps. While neither broker supports syncing watchlists from mobile apps with online accounts, both MultiBank and IronFX provide up to 30 technical studies for in-depth chart analysis. Additionally, drawing trendlines and exploring multiple time frames on stock or forex charts are supported, with the added benefit that drawings are automatically saved for future reference.
Creating watchlists with real-time quotes is seamless on both MultiBank and IronFX apps, which enhances trading decisions on the go. Despite these similarities, user ratings reveal a preference for MultiBank, awarding it four stars for its mobile trading app experience. This contrasts with IronFX, which fairs slightly lower at 3.5 stars. According to ForexBrokers.com, MultiBank is ranked #41 in the Mobile Trading Apps category among 62 brokers, while IronFX comes in at #61, indicating a more favorable reception for MultiBank's mobile offerings.
| Feature |
MultiBank
|
IronFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 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 MultiBank and IronFX in terms of market research offerings, there are distinct differences to consider. IronFX provides daily market commentary, a feature absent in MultiBank's services, giving you timely insights on market trends. Both brokers offer forex news from top-tier sources like Bloomberg and Reuters, ensuring traders have access to reliable information. While IronFX includes additional tools like technical analysis from Trading Central, MultiBank does not offer similar resources, making IronFX a more appealing choice for those who prioritize in-depth market analysis.
Both brokers provide economic calendars to keep traders informed about global news events. However, neither broker offers research tools from providers like Autochartist, TipRanks, or Acuity Trading, which could be a drawback for those seeking diverse analysis tools. Despite these limitations, IronFX earns a slightly higher research rating of 4 stars compared to MultiBank's 3.5 stars. In the ForexBrokers.com rankings, IronFX scores a more impressive #28 out of 62 brokers for research, clearly ahead of MultiBank, which ranks at #49. This distinction highlights IronFX's more comprehensive approach to equipping traders with valuable market insights.
| Feature |
MultiBank
|
IronFX
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing MultiBank and IronFX for educational resources aimed at beginners, both brokers provide a foundation in forex and CFD education by offering over ten articles, videos, and other materials focused on these topics. Beginner traders can access at least ten instructional videos tailored to novices from both platforms. However, when it comes to enhancing this learning experience with additional resources like regular online webinars, MultiBank falls short as they do not offer any monthly educational webinars. IronFX also does not host live webinars but compensates with a searchable archive of previously recorded webinars, aiding learners in accessing a broader array of information at their convenience.
Furthermore, IronFX strengthens its educational offerings with an investor dictionary, featuring definitions for over 50 investing terms, which is not a resource MultiBank provides. Regarding education for more advanced traders, neither broker currently offers a comprehensive set of advanced educational videos. In terms of ratings, MultiBank scores 3.5 stars while IronFX edges slightly higher with a 4-star rating. According to rankings by ForexBrokers.com, MultiBank is listed at #50 out of 62 brokers in the Education category, whereas IronFX ranks at #44, reflecting a marginally stronger position in educational support for traders.
| Feature |
MultiBank
|
IronFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | No |
| Client Webinars (Archived) | No | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | No | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that MultiBank is better than IronFX. MultiBank finished with an overall rank of #40, while IronFX finished with an overall rank of #48.
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
|
IronFX
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 84 | 83 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platform & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
MultiBank and IronFX both provide options to invest in cryptocurrency derivatives, but only MultiBank offers the ability to purchase actual delivered cryptocurrencies, unlike IronFX, which does not.
When comparing the deposit and withdrawal options between online brokers MultiBank and IronFX, MultiBank supports ACH or SEPA transfers while IronFX does not; both do not offer PayPal, yet they both support Skrill, Visa or Mastercard, and bank wires for transactions.
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 | MultiBank | IronFX | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 84 | 83 | |
| Winner | check_circle | ||
| Review | MultiBank Review |
| Broker Screenshots | MultiBank | IronFX | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
| ||
| Mobile Trading Gallery (click to expand) |
| ||
| Research Gallery (click to expand) |
| ||
| Education Gallery (click to expand) |
|
| Regulation | MultiBank | IronFX | |
|---|---|---|---|
| Trust Score | 84 | 83 | |
| Year Founded | 2005 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 3 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 1 |
| Tier-1 Licenses (Highly Trusted) | MultiBank | IronFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| 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 | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1042 | 340 | |
| Forex Pairs (Total) | 40 | 83 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| 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 | IronFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 1.2 | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | MultiBank | IronFX | |
|---|---|---|---|
| Minimum Deposit | $50 | $50 | |
| PayPal (Deposit/Withdraw) | No | No | |
| 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 | IronFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | MultiBank | IronFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 38 | 30 | |
| Charting - Drawing Tools (Total) | 17 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | MultiBank | IronFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 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 | MultiBank | IronFX | |
|---|---|---|---|
| Daily Market Commentary | No | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | MultiBank | IronFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | No | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | No | Yes |
| Major Forex Pairs | MultiBank | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 84 | 83 | |
| Winner | check_circle | ||
| Review | MultiBank Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill