MultiBank vs IG - Fees Review included
Which broker is better MultiBank or IG? Our expert assessment conducted according to TU’s own methodology showed that MultiBank is one of the top brokers in the financial market with the TU Overall Score of 5.92 out of 10. IG is one of the top brokers in the financial market with the TU Overall Score of 6.68 out of 10. Find out more about TU Overall Score.
| Feature | MultiBank | IG |
|---|---|---|
Overall |
4.2 |
4.4 |
4.9 |
4.7 |
|
4.0 |
4.7 |
|
4.8 |
5 |
|
Investment Instruments |
4.8 |
3.9 |
Platforms and Charting Tools |
3.9 |
4.7 |
Deposit and Withdrawal |
4.3 |
4.0 |
Research |
3.1 |
4.5 |
Education |
2.8 |
4.2 |
Support |
4.1 |
4.8 |
Bonuses |
4.3 |
3.4 |
|
|
MultiBank vs IG: Pros and Cons
Established in 2005, MultiBank Group has successfully stamped its authority in the world of trading. It has a valid impact in the foreign exchange industry with providing exemplary products, services, and trading platforms. With a paid-up capital of over $322 million, MultiBank Group is recognized as one of the largest only financial derivatives providers worldwide. The Group is closely supervised by over 10 financial regulators worldwide across various jurisdictions, what ensures investor protection. Entities regulated by ASIC, BAFIN, CNMV, FMA, TFG, HKCE, AUSTRAC, VFSA, CIMA.
The Forex broker IG Markets is a structural subdivision of the IG Group corporation. Its securities are listed on the London Stock Exchange and are included in the FTSE 250 index. IG Markets is a UK registered company created in 1974, but since its inception, its representative offices have appeared in some other European countries. Since 2014, a retail line of brokerage services has been opened. The international division of the broker is registered in Bermuda and licensed by the Bermuda Monetary Authority
| MultiBank | IG | |
|---|---|---|
| Overall Pros | Professional ECN accounts with floating spreads from 0.1 pips | reliability. IG Markets is part of the IG Group, founded in 1974. Its subsidiaries are also licensed by the British regulator FCA, the Monetary Authority of Singapore (MAS), and the American regulators CFTC, and NFA |
| popular trading platforms MT4 and MT5, mobile apps and web terminals compatible with various OS and browsers | 16,000 trading instruments, investments in IPOs and exchange-traded funds | |
| several options for passive earnings including a service for copying trades, PAMM accounts, and an affiliate program | relatively good spreads, from 0.6-1 pips depending on the type of instrument | |
| 20,000+ CFD Products across six asset classes | customer support is 24/7 | |
| supervised by over 10 financial regulators worldwide across various jurisdictions | ||
| Overall Cons | trading restrictions on scalping | high threshold of entry which discourages private novice traders |
| Limited education and research | complicated and unpleasant verification procedure. There are cases of refusal to open an account due to unconfirmed or low income | |
| High inactivity fee | there are no products for passive investment, no bonus system is provided | |
| a limited set of options for depositing and withdrawing money, which is not very convenient for global Forex traders |
MultiBank vs IG: Safety and Regulation
| Regulated By: | MultiBank | IG |
|---|---|---|
US Regulation |
No |
Yes (CFTC, NFA) |
FCA (Great Britain) |
No |
Yes |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
Yes |
No |
Other Regulators |
AUSTRAC (Australia), BAFIN (Germany), CNMV (Spain), FMA (Liechtenstein), SMA (Singapore) TFG, HKCE, VFSA (Vanuatu), CIMA. |
BMA (Bermuda), MAS (Singapore) |
MultiBank vs IG: Trading Conditions
| Trading Conditions | MultiBank | IG |
|---|---|---|
Minimum Deposit |
$50 |
$450 |
Trading Platforms |
MT4, MT5, WebTrader, Mobile app |
MT4, IG Trading Platform, L2 dealer |
Max Leverage (Futures) |
1-500 (no for all markets, EU, AU - 1-30, please look for your regulator rules) |
1-200 |
Supported Markets |
Forex, Metals, Shares, Indices, Commodities, Cryptocurrencies |
Forex, Crypto, commodities |
Trading assets |
20000+ |
16000+ |
Trading Accounts |
Pro, ECN, Standard, Demo |
Demo, Standard |
Base Account Currencies |
USD, GBP, EUR, CHF, AUD, AED, NZD, CAD |
USD |
MultiBank vs IG: Fees
Forex Trading Fees
| Fee | MultiBank | IG |
|---|---|---|
Standard Account EURUSD Average Spread |
1.7 pips |
0.6 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$3 per lot |
Not supported |
ECN Account EUR Average Spread |
0.1 pips |
Not supported |
CFD Trading Fees
| Fee | MultiBank | IG |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | MultiBank | IG |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
No |
Inactivity Fee |
$60 per quarter after 3 months of inactivity |
$18 per month after 24 months of inactivity |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
MultiBank vs IG: Trading Assets
| Asset Name | MultiBank | IG |
|---|---|---|
Overall |
20000+ |
16000+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
No |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
No |
ETFs |
No |
Yes |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
MultiBank or IG: Investment Programs
| Asset Name | MultiBank | IG |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
No |
Other |
No |
Investing in IPOs |
Trading Platforms: IG or MultiBank
| MultiBank | IG | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
No |
IG Trading Platform |
Others |
No |
L2 dealer |
|
|
MultiBank vs IG: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | MultiBank | IG |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
No |
Crypto |
Yes |
No |
MultiBank vs IG: Research
| Research Type | MultiBank | IG |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
No |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
No |
No |
E-Mail Reports |
NO |
No |
MultiBank vs IG: Education
| Education Type | MultiBank | IG |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
No |
No |
IG vs MultiBank: Support
| Support Features | MultiBank | IG |
|---|---|---|
Working Days |
24/5 |
24/7 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
MultiBank vs IG: Forex Bonuses and Promo
| Promo | MultiBank | IG |
|---|---|---|
Forex Bonus |
“Trading Bonuses”, traders can benefit from various trading bonuses including the 20% deposit bonus whereby traders can earn a bonus up to $40,000 |
No |
Affiliate Program |
“Introducing Broker Program”, this IB program is dedicated to benefit a community of 30,000+ IBs with one of the highest rebates and offers in the industry. “CPA Affiliate Program”, this CPA program allows digital marketers such as portal websites, media buyers, email marketers, affiliate networks, bloggers, and influencers of the forex or financial services community to earn a commission for every active trader they introduce to MultiBank Group. |
"Invite a friend". The partner receives $100 for each attracted referral who must carry out 5 transactions of the corresponding volume (possibly, 5 lots are implied) within 6 months. |
Other Promos |
No |
|
|
|
Top 5 Reviews on IG
-
Comment
It’s a decent company, I do most of my trading here, but I have an account with another company. There are no particular complaints. If you know how to trade, I can confidently recommend IG Markets.
-
Comment
Personally, what attracts me the most is the access to options with a low deposit at IG Markets broker. However, everything comes with a price: commissions and premiums are higher compared to companies with higher margin requirements. By the way, with a minimum deposit of $200 for options, you won't get much leverage. So, to feel more comfortable, you need to deposit at least 10 times more money into your account.
-
Comment
I can briefly share my experience. Overall, if you don't dwell on withdrawal issues, everything is fine. I withdraw funds to my card or in USDT almost every month. Initially, I had doubts about IG Markets, but after several consistent withdrawals to my card, I started to trust them more. Although the profit is not that great because the amount constantly circulates in the balance: I deposit, trade, withdraw profit. But I enjoy the trading process itself, so I have no complaints about IG Markets broker.
-
Comment
I have recently explored IG Markets. My first impressions are positive. I had a lot of questions and contacted the support service. I was pleasantly surprised, since all questions were explained to me promptly and in full. Working is convenient, the IG Markets website is informative, and the platform has a lot of trading tools for every taste. In general, I am satisfied. I hope everything will be just as good.
-
Comment
I've known the broker IG Markets for several years. I started trading here when I had no experience with currency pairs. Over time, I gained experience and stopped losing my money. IG Markets is not my primary broker. I maintain a smaller deposit here compared to another company where the conditions are better. However, the first broker is the first broker, and I don't want to leave it.
Top 5 Reviews on MultiBank
-
Comment
I think that MultiBank is a reliable and normal broker. Ask why? Because my money was drained with another company, and when I registered and started trading with MultiBank I had no problems. The quotes are real, and most importantly, I managed to earn $300 in 2 months with a deposit of $2,000, although I’m not that experienced. I think I’ll continue trading here and if anything changes — I’ll let you know.
-
Comment
I recommend working with MultiBank to everyone, and for novice traders I recommend trading on a demo account until you learn how to trade profitably. For normal trading, MultiBank requires a sufficient deposit. But with a small deposit there is absolutely nothing to do in the financial market. The platform is normal and with a good strategy you can make money here.
-
Comment
I’ve been trading with multibank for about a year. At first I started with a small deposit, as I wanted to check the conditions and had doubts about withdrawals. Yes, the first withdrawal was delayed for several days, but subsequent ones were without problems — withdrawals arrived on the day of requests. Personally, I have no problems with MultiBank, perhaps because I trade honestly and not aggressively.
-
Comment
It is strange to hear dissatisfaction from traders, especially from novice traders. You need experience to understand the quality of brokerage services. If traders trade with a huge leverage, lose everything, and then complain about the company, it’s not the company to blame. They would still have lost their money with such trading... No matter where. MultiBank is a normal company.
-
Comment
spent 2 years trading with Multi bank. I lost about $60,000 and the price almost never went up. It’s just that after opening orders, the price immediately bounces off and goes in the opposite direction. When I complained - they took action! But I’m just tired of such work.
FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.