Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers vs MultiBank, 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.
Interactive Brokers, founded in 1977, stands out as a prominent player in the online brokerage industry, known for its reliability and comprehensive license portfolio. With a Trust Score of 99 from ForexBrokers.com, Interactive Brokers instills a high degree of confidence among users. This brokerage is publicly traded, enhancing its transparency and accountability. Despite not being a bank, Interactive Brokers holds an impressive nine Tier-1 licenses, reflecting the highest level of trust, along with two Tier-2 licenses, further solidifying its reputation as a secure choice for investors.
MultiBank, established in 2005, offers a notable presence in the financial market without being publicly traded. It holds a respectable Trust Score of 84 according to ForexBrokers.com, indicating a trusted standing. Although MultiBank is not a bank, it possesses three Tier-1 and one Tier-2 license, showcasing a commitment to maintaining a reputable regulatory framework. While not on par with Interactive Brokers in terms of trust ratings and licensing, MultiBank remains a viable option for traders seeking a trustworthy platform.
| Feature |
Interactive Brokers
|
MultiBank
|
|---|---|---|
| Year Founded | 1977 | 2005 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 9 | 3 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 3 |
When it comes to commissions and fees, Interactive Brokers shines with a competitive pricing structure, earning a 5-star rating and ranking #2 out of 62 brokers by ForexBrokers.com. Though the broker's average spreads for forex are not publicly listed, data from Q3 2024 shows an average spread of 0.19 pips for EUR/USD, translating to an all-in spread of 0.59 pips after commission. Forex trading commissions start at 0.00002 of the trade value for U.S. dollars with a $2 minimum per order, potentially decreasing to 0.08 basis points for highly active traders. Interactive Brokers aggregates forex prices from top-tier interbank dealers and charges a commission rather than marking up spreads, with fees ranging from $16 to $40 per million in a round turn. Active traders may benefit from reduced fees as volume increases.
MultiBank, on the other hand, provides three forex and CFD trading account options: Standard, Pro, and ECN. The Standard account requires a $50 initial deposit but carries higher spreads, while the Pro account demands a $1,000 deposit for lower spreads. The ECN account offers the lowest spreads at MultiBank, with a $10,000 minimum deposit and a modest $3 round-trip commission charge. However, inactivity fees are a consideration, as MultiBank charges $60 per month for accounts inactive for 90 days. MultiBank earns a 4-star rating and is ranked #37 out of 62 brokers in the Commissions and Fees category by ForexBrokers.com.
Overall, Interactive Brokers offers a more comprehensive and cost-effective solution for traders concerned about fees, especially for those planning to trade at a high volume. In contrast, MultiBank's simpler structure might appeal to newcomers, but higher regular spreads in lower-tier accounts and inactivity fees might make it less appealing for others. Interactive Brokers' superior ranking underscores its favorable position in the market compared to MultiBank.
| Feature |
Interactive Brokers
|
MultiBank
|
|---|---|---|
| Minimum Deposit | $0 | $50 |
| Average Spread EUR/USD - Standard | 0.59 | N/A |
| All-in Cost EUR/USD - Active | 0.59 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to the range of investments, Interactive Brokers stands out with its extensive offering. It provides access to 8,500 tradeable symbols, dwarfing MultiBank's 1,042. Both brokers facilitate forex trading as CFDs or spot contracts, but Interactive Brokers offers an impressive 90 tradeable forex pairs compared to MultiBank's 40. Furthermore, Interactive Brokers enables clients to purchase U.S. exchange-listed securities like Apple shares, as well as international options such as Vodafone shares. It even allows the purchase of actual cryptocurrencies and their derivatives. On the other hand, MultiBank clients don't have the option to buy exchange-traded securities on U.S. or international exchanges, though they do offer both actual and derivative cryptocurrency trading.
In terms of ratings, Interactive Brokers receives a perfect 5 stars for its range of investments, ranking as the top choice among 62 brokers rated by ForexBrokers.com. MultiBank follows with a respectable 4-star rating but sits lower at 37th place in the same ranking. One area where MultiBank edges ahead is in copy trading, which it offers while Interactive Brokers does not. Overall, Interactive Brokers provides a broader and more diverse range of investment opportunities, particularly for those interested in global securities and a wider variety of forex pairs.
| Feature |
Interactive Brokers
|
MultiBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 1042 |
| Forex Pairs (Total) | 90 | 40 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | Yes | Yes |
| 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 offered by Interactive Brokers and MultiBank, traders will find a range of capabilities suited to different needs. Both brokers offer simulated trading features, complete with free virtual demo accounts for practice. They also provide proprietary platforms, as well as Windows-based desktop downloads and browser-based platforms. However, while MultiBank supports copy trading and integrations with popular trading systems like MetaTrader 4 and MetaTrader 5, Interactive Brokers does not. Neither offers DupliTrade or ZuluTrade services.
A deeper look at their charting tools reveals key differences: Interactive Brokers provides 85 drawing tools, significantly more than MultiBank’s 17. Additionally, Interactive Brokers offers a staggering 659 columns for watch lists compared to MultiBank’s 7, allowing for more personalized and detailed monitoring of trades. With these comprehensive tools, Interactive Brokers has earned a perfect 5-star rating for its trading platforms and tools and ranks 3rd out of 62 brokers, while MultiBank holds a commendable 4-star rating, ranking 39th. This makes Interactive Brokers an attractive option for those seeking extensive and sophisticated trading features.
| Feature |
Interactive Brokers
|
MultiBank
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 155 | 38 |
| Charting - Drawing Tools (Total) | 85 | 17 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 659 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of Interactive Brokers and MultiBank, both platforms offer iPhone and Android apps, allowing users to trade on the go. They also provide stock and forex price alerts and the capability to create watchlists with real-time quotes, ensuring traders stay updated with market movements. However, Interactive Brokers stands out with its watchlist symbol syncing across devices and accounts, a feature MultiBank lacks. In terms of charting capabilities, Interactive Brokers impresses with 97 technical studies available on its app, compared to MultiBank's 30. Both apps allow users to draw trendlines and view multiple time frames on charts, though only MultiBank enables the auto-save function for chart drawings.
Interactive Brokers' mobile app is rated five stars for its comprehensive offerings and user experience, ranking 4th out of 62 brokers in ForexBrokers.com's Mobile Trading Apps category. In contrast, MultiBank's app holds a four-star rating and ranks 41st, indicating a solid but less competitive standing in the market. Whether you're an advanced trader looking for extensive charting tools or a beginner looking for basic functionalities, these differences might help you decide which app aligns better with your trading needs.
| Feature |
Interactive Brokers
|
MultiBank
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 97 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research, Interactive Brokers outshines MultiBank with its comprehensive offerings. Interactive Brokers provides daily market commentary and forex news from top-tier sources such as Bloomberg and Reuters. Furthermore, it offers robust research tools from renowned companies like Trading Central and TipRanks, and sentiment-based trading features. Additionally, Interactive Brokers includes resources from Acuity Trading and a detailed economic calendar, tools that are all absent from MultiBank's suite.
While both brokers offer forex news and an economic calendar, the distinction in quality and variety of research tools positions Interactive Brokers as a leader in the field. Rated 5 stars for their research capabilities, they hold the third spot in ForexBrokers.com's ranking of 62 brokers. In contrast, MultiBank trails with a 3.5-star rating, ranking at 49th. Overall, Interactive Brokers provides a richer research experience for traders seeking in-depth market insights.
| Feature |
Interactive Brokers
|
MultiBank
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Interactive Brokers and MultiBank both provide a variety of educational resources, but there are notable differences in their offerings for beginners. Interactive Brokers stands out with comprehensive education on forex and CFDs, providing ample resources in the form of articles, videos, and archived webinars. Beginners can benefit from monthly live webinars and a library of previously recorded webinars, making it easy to learn at their own pace. Additionally, Interactive Brokers offers a rich selection of beginner educational videos and an in-depth investor dictionary, helping newcomers understand essential trading terminology. This broker is recognized for its top-tier education, holding a 5-star rating and a high rank of #3 in the Education category by ForexBrokers.com.
On the other hand, MultiBank also provides valuable educational content, including articles and beginner videos, ensuring newcomers have access to important trading concepts, particularly in forex and CFDs. However, MultiBank lacks some key features that Interactive Brokers offers. There are no monthly live webinars or searchable archives of past webinars, which might limit learning flexibility. Additionally, the absence of advanced educational videos and an investor dictionary might present challenges for those seeking to deepen their trading knowledge. Consequently, MultiBank's educational resources receive a 3.5-star rating and a ranking of #50 for education according to ForexBrokers.com.
| Feature |
Interactive Brokers
|
MultiBank
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that Interactive Brokers is better than MultiBank. Interactive Brokers finished with an overall rank of #2, while MultiBank finished with an overall rank of #40.
Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.
| Feature |
Interactive Brokers
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MultiBank
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 84 |
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Both Interactive Brokers and MultiBank provide options for purchasing delivered cryptocurrency and offer the capability to trade cryptocurrency derivatives, catering to a range of investor preferences.
Interactive Brokers and MultiBank both offer ACH and SEPA transfers, as well as bank wires, for depositing or withdrawing account funds, but only MultiBank supports additional payment methods like Skrill, Visa, and Mastercard, while neither supports PayPal.
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 | Interactive Brokers | MultiBank | |
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| Trust Score | 99 | 84 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | MultiBank Review |
| Broker Screenshots | Interactive Brokers | MultiBank | |
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| Regulation | Interactive Brokers | MultiBank | |
|---|---|---|---|
| Trust Score | 99 | 84 | |
| Year Founded | 1977 | 2005 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 9 | 3 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 3 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | MultiBank | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Interactive Brokers | MultiBank | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | Yes | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Interactive Brokers | MultiBank | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 1042 | |
| Forex Pairs (Total) | 90 | 40 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | Yes | Yes | |
| 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 | Interactive Brokers | MultiBank | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.59 | N/A | |
| All-in Cost EUR/USD - Active | 0.59 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | Interactive Brokers | MultiBank | |
|---|---|---|---|
| Minimum Deposit | $0 | $50 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | Interactive Brokers | MultiBank | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Interactive Brokers | MultiBank | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 659 | 7 | |
| Charting - Indicators / Studies (Total) | 155 | 38 | |
| Charting - Drawing Tools (Total) | 85 | 17 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Interactive Brokers | MultiBank | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 97 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Interactive Brokers | MultiBank | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Interactive Brokers | MultiBank | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | Interactive Brokers | MultiBank | |
|---|---|---|---|
| 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 | Interactive Brokers Review | MultiBank Review |
| Overall | Interactive Brokers | MultiBank | |
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| Trust Score | 99 | 84 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | MultiBank Review |
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