MultiBank vs IronFX 2023

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, MultiBank offers better pricing overall for traders.

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. Both MultiBank and IronFX hold 3 global Tier-1 licenses. MultiBank holds 1 global Tier-2 licenses, while IronFX holds 0. In our analysis of 23 international regulators across 50 brokers, MultiBank and IronFX earned the same Trust Score.

To compare the trading platforms of both MultiBank and IronFX, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, MultiBank offers a better experience. With research, IronFX offers superior market research. Finally, we found MultiBank to provide better mobile trading apps.

For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Both MultiBank and IronFX offer MetaTrader 4 (MT4).MultiBank and IronFX both offer copy trading.

IronFX provides traders 83 currency pairs (e.g., EUR/USD) compared to MultiBank's 41 available pairs. Forex pairs aside, MultiBank offers traders access to 1042 CFDs while IronFX has 340 available CFDs, a difference of 702.

MultiBank Group is not publicly traded, does not operate a bank, and is authorised by three Tier-1 regulators (Highly Trusted), one Tier-2 regulator (Trusted), zero Tier-3 regulators (Average Risk), and three Tier-4 regulators (High Risk). MultiBank Group is authorised by the following Tier-1 regulators: the Australian Securities & Investment Commission (ASIC), Monetary Authority of Singapore (MAS, and the European Union via MiFID.

IronFX is not publicly traded and does not operate a bank. IronFX is authorised by three tier-1 regulators (high trust), zero tier-2 regulators (average trust), zero tier-3 regulators (low trust), and one tier-4 regulator. IronFX is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), European Union Authorized (MiFID), and the Financial Conduct Authority (FCA).

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.

IronFX has come a long way to rebuild its brand, acquiring multiple regulatory licenses to improve its Trust Score, and creating balanced educational material. That said, pricing is an area where Iron FX has room to further improve as spreads appeared higher than the industry average.