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 online brokers MultiBank and IronFX, their commissions, fees, and rankings paint an interesting picture. MultiBank offers three account types: Standard, Pro, and ECN. The Standard account, suitable for beginners, has higher spreads with a $50 minimum deposit. The Pro account reduces these spreads with a $1,000 minimum deposit requirement. For those seeking the lowest spreads, the ECN account features a competitive option with a $10,000 minimum deposit and a $3 per trade round-trip commission. MultiBank charges a $60 monthly inactivity fee after 90 days of non-trading activity.
In contrast, IronFX's pricing can potentially improve, as their spreads seem higher than the industry average. The typical spread for their Standard variable spread account is 1.8 pips, although this can vary. Their zero fixed-spread account offers zero spread starting but comes with an $18 per lot commission, with overnight spreads widening to 3 pips.
Both brokers receive a 4-star rating for commissions and fees, reflecting their offerings' competitiveness. However, in ForexBrokers.com's rankings, MultiBank secures the 38th spot out of 63 brokers, while IronFX is slightly behind at 46th place. This ranking provides an additional layer of insight for traders comparing these two options.
| 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 the range of investments offered by MultiBank and IronFX, both provide forex trading as either a CFD or a spot contract, allowing traders to engage in diverse currency markets. However, MultiBank boasts a significant advantage with 1,042 tradeable symbols, dwarfing IronFX's 340. In terms of forex pairs available for trading, IronFX takes the lead with 83 pairs, compared to MultiBank's 40. Neither broker allows direct purchase of exchange-traded securities from U.S. or international exchanges, such as Apple or Vodafone shares.
Both MultiBank and IronFX support copy trading, offering users the ability to mirror strategies from experienced traders. However, when it comes to cryptocurrencies, MultiBank has the edge, allowing users to purchase actual cryptocurrencies and derivatives, whereas IronFX only provides access to cryptocurrency derivatives. With these offerings, MultiBank is rated 4 stars for its range of investments and is ranked #37 by ForexBrokers.com, while IronFX holds a slightly lower rating of 3.5 stars and is ranked #51.
| 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.
MultiBank and IronFX both offer a range of trading platforms and tools that cater to different types of traders. MultiBank distinguishes itself with a proprietary platform developed in-house, a feature IronFX lacks. Besides, while both brokers provide a Windows-based desktop platform and a web-based option, MultiBank extends a slight edge by also offering MetaTrader 5 (MT5), in addition to the widely used MetaTrader 4 (MT4), whereas IronFX only supports MT4. Both platforms allow simulated trading through free virtual demo accounts, and they offer copy trading capabilities.
In terms of charting tools, both brokers enable trading directly from stock charts. MultiBank provides 17 drawing tools compared to IronFX's 15, and both offer seven columns for watch lists. When considering technical indicators, specifics aren't detailed, but both brokers aim to meet traders' diverse analysis needs. Ratings for trading platforms and tools show MultiBank scoring four stars, slightly ahead of IronFX's 3.5 stars. According to ForexBrokers.com, in the trading platforms and tools category, MultiBank ranks #39 out of 63 brokers, while IronFX is placed at #61, reflecting a more competitive technology advantage for MultiBank.
| 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 it comes to mobile trading apps, both MultiBank and IronFX offer essential features for traders on the go. Available on both iPhone and Android platforms, these apps provide access to stock and forex price alerts, as well as the ability to create watchlists with real-time quotes. Trend analysis on the go is made easy with each app supporting up to 30 technical studies and drawing features, including the ability to view multiple time frames and auto-save chart drawings. However, both platforms lack watchlist symbol syncing between the mobile app and online accounts, which may be a consideration for those who manage their portfolios from multiple devices.
In terms of user ratings and rankings, MultiBank slightly edges out with a 4-star rating for its mobile trading app, ranked 41st out of 63 brokers by ForexBrokers.com. Meanwhile, IronFX has a 3.5-star rating, placing it at 62nd. This indicates a modest edge for MultiBank in the mobile app experience, which could make a difference for traders prioritizing seamless mobile app functionality in their trading activities.
| 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, a few differences and similarities become apparent. IronFX takes the lead with its daily market commentary, which is notably absent from MultiBank. Both brokers provide forex news from respected sources like Bloomberg and Reuters, equipping traders with reliable updates. However, IronFX distinguishes itself further by offering research tools from Trading Central, unlike MultiBank. Despite both brokers lacking sentiment-based trading tools or market research from TipRanks, they provide traders with an economic calendar featuring important global news, ensuring that users stay informed about worldwide economic events.
Evaluating their overall research offerings, IronFX receives a slightly higher rating with 4 stars compared to MultiBank's 3.5 stars. This distinction is reflected in their rankings on ForexBrokers.com, where IronFX is placed at #28 out of 63 brokers, while MultiBank ranks at #49. These ratings and rankings underscore IronFX's stronger position in providing traders with insightful and accessible market research tools and updates, making it a preferable choice for those who prioritize comprehensive market analysis.
| 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 it comes to educational resources for beginners, both MultiBank and IronFX offer solid foundations with at least ten educational pieces focused on forex or CFDs, such as articles and videos. However, IronFX takes a slight edge by providing a searchable archive of past client webinars, a feature missing from MultiBank's offerings. Additionally, IronFX includes an investor dictionary defining over 50 investing terms, which can be particularly beneficial for traders new to the market. Both brokers provide at least ten beginner-focused trading videos, ensuring newcomers have ample resources to start their trading journey.
On the downside, neither MultiBank nor IronFX offers at least one monthly webinar for clients, and both lack a collection of advanced educational videos for seasoned traders. Despite these gaps, IronFX is rated slightly higher with 4 stars for education compared to MultiBank's 3.5 stars. Furthermore, IronFX secures a better position in the education ranking by ForexBrokers.com, standing at #44 out of 63 brokers, while MultiBank is ranked at #50. These distinctions suggest that while both brokers offer valuable educational materials, IronFX may provide a more comprehensive educational framework for those beginning their trading experience.
| 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 63 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 |
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| Trust Score | 84 | 83 |
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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.
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0 of 5| Overall Rating | MultiBank | IronFX | |
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| Trust Score | 84 | 83 | |
| Winner | check_circle | ||
| Review | MultiBank Review |
| Broker Screenshots | MultiBank | IronFX | |
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| 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 | |
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| Trust Score | 84 | 83 | |
| Winner | check_circle | ||
| Review | MultiBank Review |
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