MultiBank Group vs IC Markets: Which Is Better?
A side-by-side look at regulation, trading conditions, and fees for MultiBank Group and IC Markets, pulled from the same data as their individual reviews.
Key Differences
- • IC Markets holds the higher overall rating: 9.6/10 vs 6.6/10 for MultiBank Group.
- • MultiBank Group has the lower minimum deposit: $50 vs $200 at IC Markets.
- • MultiBank Group lists more regulators: ASIC (Australia), CySEC (Cyprus), BaFin (Germany), MAS (Singapore), CMA (UAE), FSC (British Virgin Islands, offshore), CIMA (Cayman Islands, offshore), VFSC (Vanuatu, offshore) vs ASIC, CySEC, FSA, SCB for IC Markets.
- • Risk tier: MultiBank Group is Tier B, IC Markets is Tier A.
Overview
Rating
6.6/10
9.6/10
Trustpilot
—
4.8/5 · 55,000+ reviews
WikiFX Score
1.69 / 10 (low-score warning)
High / Validated
Best For
Low $50 entry with ECN and swap-free options (check your entity first)
Algorithmic trading, EAs & Scalping
Regulators
ASIC (Australia), CySEC (Cyprus), BaFin (Germany), MAS (Singapore), CMA (UAE), FSC (British Virgin Islands, offshore), CIMA (Cayman Islands, offshore), VFSC (Vanuatu, offshore)
ASIC, CySEC, FSA, SCB
Terms & Fees
Min Deposit
$50
$200
Max Leverage
1:1000
1:5000
Spreads From
0.0 Pips
0.02 Pips
Execution Model
ECN / no dealing desk on ECN accounts; some entities hold market-maker licences
ECN/STP (No Dealing Desk) — aggregates ~25 liquidity providers
Commission
Standard and Pro: no commission. ECN: the broker's website does not state the commission; ForexBrokers.com (2025) reported about $3 per lot round turn, CompareForexBrokers (2026) lists $6 per lot, about $7 round turn. Confirm the current figure in a live account.
Raw Account: $3.50 per lot per side ($7.00 round trip); Standard: $0
Swap / Islamic
A swap-free (Islamic) account is available: the broker's site links a Swap-Free Trading Account Agreement and BrokerChooser confirms the account type. Swap rates for other accounts are not published in the sources we read.
Highly competitive; Islamic (Swap-Free) accounts available for qualifying residents
Platforms
MT4, MT5, MB Trader (web), Social Trading
MT4, MT5, cTrader, TradingView
Crypto Deposits
Yes
Yes
Pros
What's good
- + Standard account opens from $50, with a swap-free (Islamic) account available
- + Three account types: Standard (1.5 pips, no commission), Pro (from 0.8 pips) and ECN (from 0.0 pips)
- + Entities listed with several regulators, including ASIC, CySEC, BaFin and MAS
- + MT4 and MT5 plus social/copy trading; deposits by card, bank transfer and crypto (BTC, USDT)
- + Equinix NY4 integration for low-latency
- + Zero non-trading fees
- + Swap-free accounts available
Cons
Watch out for
- – Trustpilot shows no TrustScore for the company and reports of delayed or blocked withdrawals are frequent
- – WikiFX score is 1.69 out of 10, with 'frequent complaints' and 'offshore regulation' tags
- – Which regulator protects you depends on the entity your account is with; much international business runs through BVI, Cayman and Vanuatu entities
- – The broker's own risk warning says you can lose more than you deposit
- – $60 monthly inactivity fee after 90 days without trading (per ForexBrokers.com and CompareForexBrokers)
- – High minimum deposits for Pro ($1,000) and ECN ($10,000)
- – Stringent KYC/AML bottlenecks
- – No US/Canada/Japan clients