MultiBank vs Interactive Brokers - Fees Review included
Which broker is better MultiBank or Interactive Brokers? 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. Interactive Brokers is one of the top brokers in the financial market with the TU Overall Score of 7.45 out of 10. Find out more about TU Overall Score.
| Feature | MultiBank | Interactive Brokers |
|---|---|---|
Overall |
4.2 |
4.9 |
4.9 |
5 |
|
4.0 |
4.9 |
|
4.8 |
5 |
|
Investment Instruments |
4.8 |
4.2 |
Platforms and Charting Tools |
3.9 |
5 |
Deposit and Withdrawal |
4.3 |
4.1 |
Research |
3.1 |
4.7 |
Education |
2.8 |
4.5 |
Support |
4.1 |
4.2 |
Bonuses |
4.3 |
3.1 |
|
|
MultiBank vs Interactive Brokers: 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 biggest international broker
| MultiBank | Interactive Brokers | |
|---|---|---|
| Overall Pros | Professional ECN accounts with floating spreads from 0.1 pips | Access to 135 markets in 33 countries |
| popular trading platforms MT4 and MT5, mobile apps and web terminals compatible with various OS and browsers | 30.000+ trading instruments | |
| several options for passive earnings including a service for copying trades, PAMM accounts, and an affiliate program | Regulated in the US, UK and 8 other countries | |
| 20,000+ CFD Products across six asset classes | Advanced trading platform | |
| supervised by over 10 financial regulators worldwide across various jurisdictions | Free stocks for registration | |
| Low fees | ||
| Low margin rates | ||
| Nasdaq Listed company | ||
| 25 supported account currencies | ||
| Overall Cons | trading restrictions on scalping | long and complex registration procedure |
| Limited education and research | ||
| High inactivity fee |
MultiBank vs Interactive Brokers: Safety and Regulation
| Regulated By: | MultiBank | Interactive Brokers |
|---|---|---|
US Regulation |
No |
Yes |
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. |
Investment Industry Regulatory Organization of Canada (IIROC), Central Bank of Ireland (CBI, reference number C423427), Central Bank of Hungary (Magyar Nemzeti Bank), Australian Securities and Investments Commission (AFSL: 453554) and is a participant of ASX, ASX 24 and Cboe Australia, Hong Kong Securities and Futures Commission, and is a member of the SEHK and the HKFE, India SEBI Registration No. INZ000217730, Japan - Kanto Local Finance Bureau (Registration No.187) and is a member of Japan Securities Dealers Association and The Commodity Futures Association of Japan, Monetary Authority of Singapore (Licence No. CMS100917) |
MultiBank vs Interactive Brokers: Trading Conditions
| Trading Conditions | MultiBank | Interactive Brokers |
|---|---|---|
Minimum Deposit |
$50 |
$0 |
Trading Platforms |
MT4, MT5, WebTrader, Mobile app |
IB Trader Workstation, IBKR GlobalTrader, Client Portal |
Max Leverage (Futures) |
1-500 (no for all markets, EU, AU - 1-30, please look for your regulator rules) |
1-50 |
Supported Markets |
Forex, Metals, Shares, Indices, Commodities, Cryptocurrencies |
Stocks, Forex, ETFs, Mutual Funds, Bonds, Stock options, Commodity Futures, Currency futures, Cryptocurrencies, Robo-portfolios, hedge funds |
Trading assets |
20000+ |
30000+ |
Trading Accounts |
Pro, ECN, Standard, Demo |
Cash account, margin account |
Base Account Currencies |
USD, GBP, EUR, CHF, AUD, AED, NZD, CAD |
USD, EUR, GBP, AUD, CAD, CZK, DKK, HKD, HUF, ILS, JPY, MXN, NZD, NOK, PLN, SGD, SEK, CHF, CNH |
MultiBank vs Interactive Brokers: Fees
Forex Trading Fees
| Fee | MultiBank | Interactive Brokers |
|---|---|---|
Standard Account EURUSD Average Spread |
1.7 pips |
0.1 pips |
Standard Account Fee |
$0 |
0.08 to 0.20 bps times trade size |
ECN/STP Account Fee |
$3 per lot |
0.08 to 0.20 bps times trade size |
ECN Account EUR Average Spread |
0.1 pips |
0.1 pips |
CFD Trading Fees
| Fee | MultiBank | Interactive Brokers |
|---|---|---|
CFD Trading Fee |
Floating spread |
0.05% on all share CFDs |
Non-Trading Fees
| Fee | MultiBank | Interactive Brokers |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
$10 per wire transfer, $1 per BACS/GIRO/ACH/EFT/SEPA |
Inactivity Fee |
$60 per quarter after 3 months of inactivity |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
MultiBank vs Interactive Brokers: Trading Assets
| Asset Name | MultiBank | Interactive Brokers |
|---|---|---|
Overall |
20000+ |
30000+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes |
Metals |
Yes (CFD) |
Yes |
Cryptocurrencies |
Yes (CFD) |
Yes |
Energy |
Yes (CFD) |
Yes |
Indices |
Yes (CFD) |
Yes |
ETFs |
No |
Yes |
Bonds |
No |
Yes |
Mutual funds |
No |
Yes |
Stock options |
No |
Yes |
Futures Trading |
No |
Yes |
Binary Options |
No |
No |
MultiBank or Interactive Brokers: Investment Programs
| Asset Name | MultiBank | Interactive Brokers |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
No |
Other |
No |
Robo-portfolios, hedge funds, Bonds |
Trading Platforms: Interactive Brokers or MultiBank
| MultiBank | Interactive Brokers | |
|---|---|---|
MT4 |
Yes |
No |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
No |
IB Trader Workstation, IBKR GlobalTrader, Client Portal |
Others |
No |
No |
|
|
MultiBank vs Interactive Brokers: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | MultiBank | Interactive Brokers |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
No |
Electronic Wallets |
Yes |
No |
Crypto |
Yes |
No |
MultiBank vs Interactive Brokers: Research
| Research Type | MultiBank | Interactive Brokers |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
No |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
No |
No |
E-Mail Reports |
NO |
Yes |
MultiBank vs Interactive Brokers: Education
| Education Type | MultiBank | Interactive Brokers |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
No |
No |
Interactive Brokers vs MultiBank: Support
| Support Features | MultiBank | Interactive Brokers |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
Community forum, Software bug reports |
MultiBank vs Interactive Brokers: Forex Bonuses and Promo
| Promo | MultiBank | Interactive Brokers |
|---|---|---|
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. |
As Referrer you can earn up to USD 1000 of IBKR stock. The Refer a Friend program allows eligible IBKR clients to refer people to IBKR for a flat fee payment. Residents of Japan, Spain and Israel are not eligible to participate in the program. |
Other Promos |
||
|
|
Top 5 Reviews on Interactive Brokers
-
Comment
I am very glad that I found Interactive Brokers, because it is convenient to work with — the service is well made and streamlined, the user account is convenient, and you can trade on different platforms and use robots. There are a lot of tools for traders. In general, their approach to work is serious.
-
Comment
I recently started trading with interactive brokers, but I am already trading on a live account. There is no delay in withdrawing money, the execution is excellent, and they make life easier for traders, as they allow you to trade with different strategies. You can try whatever you want and the choice of platforms is amazing, so there is a space for experiments.
-
Comment
There are no problems with Interactive Brokers. All trading operations are carried out as needed. There is a license and regulators, and that definitely says a lot.
-
Comment
Attempts to successfully invest funds haven’t always brought me the positive results that were promised to me by the brokers with whom I worked. I had to start searching, and those who search always find. I found interactive brokers. As a result, in six months, I doubled the money invested. I hope that I will stay here for a long time.
-
Comment
No worries with Interactive Brokers. I know for sure that the company will not let you down. How many years here and only a positive opinion about Interactive Brokers. Always, on all thematic resources, I advise this company.
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.