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Do you want to know which is the better broker between MultibankFX and IFC Markets ?
In the table below, you can compare the features of MultibankFX , IFC Markets side by side to determine the best fit for your needs.
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You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of multibankfx, ifc-markets lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
Note: For some unknown reason, we cannot open MultibankFXs official site (https://www.multibankfx.com) while writing this introduction, therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. Traders should be careful about this issue.
General Information & Regulation
MultibankFX, a trading name of MEX Group Worldwide Limited, is allegedly a forex and CFD broker registered in the United Kingdom that claims to provide its clients with over 1,000+ tradable financial instruments with leverage capped at 1:500 and variable spreads from 0.0 pips on the leading MetaTrader4 and MetaTrader5 trading platforms, as well as a choice of three different live account types.
As for regulation, it has been verified that MultibankFX has four different licenses, but they are all suspicious clone, that is why its regulatory status on WikiFX is listed as “Suspected Fake Clone” and it receives a relatively low score of 1.42/10. Please be aware of the risk.
Field Survey
The investigators went to London, UK, to visit the foreign exchange dealer MultibankFX as planned. However, they did not find the dealers office at the publicly displayed address. The dealer may just borrow the address to register the company without a real business place. Investors are advised to choose the dealer carefully.
Market Instruments
MultibankFX advertises that it offers access to more than 1,000 trading instruments in financial markets, including forex pairs and CFDs on indices, commodities, precious metals and shares.
Account Types
MultibankFX claims to offer three types of trading accounts, namely Maximus, MultiBank Pro and ECN Pro. The minimum initial deposit amount is $50 for the Maximus account, while the other two account types have much higher minimum initial capital requirements of $1,000 and $5,000 respectively.
Leverage
The leverage offered by MultibankFX is capped at 1:500, which is much higher than that provided by most brokers. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads
MultibankFX claims that different account types can enjoy quite different spreads. Specifically, the spread on the Maximus account starts from 1.4 pips, the MultiBank Pro account has spread from 0.8 pips, while only the ECN Pro account holders can enjoy raw spreads from 0.0 pips. These spreads are all below the industry average of 1.5 pips.
Trading Platform Available
Platforms available for trading at MultibankFX are said to be the industry-standard MetaTrader4 and MetaTrader5. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.
Deposit & Withdrawal
MultibankFX says to accept payments with credit cards like Visa and MasterCard, bank wire, Neteller and Skrill. The minimum initial deposit requirement is said to be only $50.
Bonuses & Fees
MultibankFX claims to offer all kinds of bonuses, covering the 100% bonus, the 20% bonus, Imperial bonus and Refer a Friend bonus. Just take the 20% bonus as an example: the minimum deposit required for it is $1,000. Clients who wish to withdraw $200 of their bonus must trade 80 lots for every $200 they wish to withdraw. Additionally, clients must complete the trading requirements within 90 days of receiving the bonus. Clients who fail to meet the deadline will only receive a percentage of the bonus.
In any case, you should be very cautious if you receive a bonus. First of all, bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Remember that brokers who are regulated and legitimate do not offer bonuses to their clients.
Also, the broker also charges an inactivity fee. If a trading account stays inactive for 3 months, a monthly fee of $60 will be charged. However, other licensed brokers give a grace period of 6 months or even 1 year.
Customer Support
MultibankFX‘s customer support can be reached by telephone: +44 203 953 8381 (English), +62 02129264151 (Indonesian), +351 304 500 657 (Portuguese), +400 120 8619 (Chinese), +49 69 257377474 (German), +1 833 291 1788 (French), +7 499 609 46 73 (Russian), +34 931 220 671 (Spanish), +84 28 44581652 (Vietnamese), email: cs@multibankfx.com, cncs@multibankfx.com, cs.mys@multibankfx.com. You can also follow this broker on social media platforms such as Twitter, Facebook, Instagram, YouTube and LinkedIn. However, this broker doesn’t disclose other more direct contact information like the company address that most brokers offer.
Risk Warning
Online trading involves a significant level of risk and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
IFC Markets Review Summary in 10 Points | |
Founded | 2006 |
Registered Country/Region | Cyprus |
Regulation | CYSEC (exceeded), FSC (offshore regulatory), LFSA (suspicious clone) |
Market Instruments | Currency Pairs, Precious Metals, Continuous Index CFDs, Stock CFDs, and Cryptocurrency CFD |
Demo Account | Available |
Leverage | 1:400 |
EUR/USD Spread | Fixed (from 1.8) and Floating (from 0.4) Spreads |
Trading Platforms | NetTradeX, MT4, MT5 |
Minimum deposit | $1 |
Customer Support | 24/7 multilingual live chat, phone, email |
IFC Markets is an international online broker that provides a wide range of financial instruments and trading services to clients worldwide. The company offers various trading instruments, including currency pairs, commodities, indices, stocks, and cryptocurrencies through multiple trading platforms, including NetTradeX, MetaTrader 4, and MetaTrader 5. However, IFC Markets operates as an unregulated broker, and traders should exercise caution and conduct thorough research before engaging in any trading activities.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
IFC Markets offers a wide range of trading instruments, multiple trading platforms, and educational resources, providing traders with flexibility and opportunities for learning. The availability of various deposit and withdrawal methods, as well as 24/7 customer support, adds convenience for traders.
However, the lack of regulation raises concerns about investor protection and the reported instances of scams and withdrawal issues highlight potential risks. The limited information on spreads and commissions may also make it difficult for traders to assess trading costs accurately.
Pros | Cons |
• Wide range of trading instruments | • Operates as an unregulated broker |
• Multiple trading platforms | • United States, BVI, Japan and Russian residents are excluded |
• Demo accounts and Islamic Accounts/SWAP-free accounts available | • Reports of scams and withdrawal issues |
• Various deposit and withdrawal methods | • Limited information available about specific spreads and commissions |
• Rich educational resources | |
• Multilingual customer support available 24/7 |
Please note that the information provided is based on the available data and may not reflect the complete picture of the pros and cons of IFC Markets. It's always recommended to conduct thorough research and exercise caution when choosing a broker for trading activities.
There are many alternative brokers to IFC Markets depending on the specific needs and preferences of the trader. Some popular options include:
Trading 212 - for traders seeking a user-friendly platform with a wide range of tradable instruments and a commission-free trading model.
TrioMarkets - for experienced traders looking for competitive spreads, multiple account types, and access to various trading platforms.
XGLOBAL Markets - for traders who prioritize competitive pricing, fast execution, and a diverse range of financial instruments for trading.
Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
IFC Markets is a forex and CFD broker that holds licenses from various regulatory authorities, including CySEC (Cyprus Securities and Exchange Commission), FSC (British Virgin Islands Financial Services Commission), and LFSA (Labuan Financial Services Authority). However, the CySEC license is exceeded, the FSC license is from an offshore jurisdiction, and the LFSA license is a suspicious clone.
It's important to note that having multiple licenses does not necessarily guarantee the safety or legitimacy of a broker. Traders should exercise caution when dealing with brokers that have offshore licenses or licenses from less reputable jurisdictions. It's recommended to conduct thorough research, consider the broker's reputation, and carefully assess the risks before engaging in any trading activities.
IFC Markets provides a wide range of trading instruments to cater to the diverse needs of its clients. Traders can access over 650 instruments, including currency pairs, precious metals like gold and silver, continuous index CFDs, stock CFDs, and cryptocurrency CFDs.
Currency pairs offer opportunities to trade major, minor, and exotic pairs, allowing traders to participate in the global forex market. Precious metals provide an alternative investment option and a hedge against inflation. Continuous index CFDs enable traders to speculate on the performance of popular stock indices, while stock CFDs allow for trading on the price movements of individual company shares. Additionally, the inclusion of cryptocurrency CFDs allows traders to gain exposure to the volatile and rapidly evolving digital asset market.
To meet different types of investors' investment needs and trading experience, IFC Markets offers two live account types. The Beginner account is designed for novice traders and requires a minimum deposit of 1 USD, 1 EUR, or 100 JPY. This account type provides access to a range of trading instruments and features, allowing beginners to start their trading journey with a smaller initial investment.
The Standard account, on the other hand, is suitable for more experienced traders and requires a minimum deposit of 1000 USD, 1000 EUR, or 100,000 JPY. It offers additional benefits and features, including access to more trading instruments, tighter spreads, and personalized customer support.
In addition to live accounts, IFC Markets also offers demo accounts for practice and testing strategies, as well as Islamic Accounts/SWAP-free accounts for clients who adhere to Islamic finance principles. These account options provide flexibility and cater to the diverse needs of traders at different skill levels.
IFC Markets provides its clients with leverage options of up to 1:400. Leverage allows traders to control larger positions in the market with a smaller amount of capital. With a leverage ratio of 1:400, traders can amplify their potential profits or losses by 400 times. While leverage can enhance trading opportunities, it is important to note that it also carries higher risks. Higher leverage increases the potential for both gains and losses, and traders should exercise caution and employ risk management strategies when utilizing leverage.
IFC Markets' offering of high leverage provides traders with the flexibility to adjust their trading strategies and access a larger market exposure, but it is crucial for traders to have a thorough understanding of leverage and its implications before engaging in leveraged trading activities.
IFC Markets offers competitive spreads to its clients. Traders have the option to choose between fixed spreads and floating spreads. The fixed spreads start from 1.8 pips, providing traders with a clear and consistent cost of trading. On the other hand, the floating spreads start from as low as 0.4 pips, allowing traders to potentially benefit from tighter spreads during periods of market volatility or when liquidity is high.
One advantage of trading with IFC Markets is that they do not charge any hidden commissions on trades. This means that traders can have greater transparency and clarity regarding their trading costs. By offering competitive spreads and transparent fee structures, IFC Markets aims to provide traders with a cost-effective trading environment.
Below is a comparison table about spreads and commissions charged by different brokers:
Broker | EUR/USD Spread | Commission |
IFC Markets | fixed spreads from 1.8 pips and floating spreads from 0.4 pips | no hidden commissions |
Trading 212 | from 0.9 pips | $0 |
TrioMarkets | from 0.0 pips | $7 per lot round turn |
XGLOBAL Markets | from 0.1 pips | $0 |
Please note that spreads and commissions can vary depending on market conditions, account type, and trading platform. It is always advisable to check with the broker directly for the most accurate and up-to-date information regarding spreads and commissions.
IFC Markets offers traders NetTradeX, the market-leading MT4 and MT5 trading platforms. Both MT4 and MT5 are the most popular forex trading platforms on the market, and both support iOS, Android, and tablet versions, allowing traders to trade flexibly. NetTradeX is IFC Markets' proprietary trading platform, offering a user-friendly interface and a range of advanced trading tools. It is designed to cater to the needs of both beginner and experienced traders.
MT4 and MT5, on the other hand, are popular and widely used platforms in the industry. They offer comprehensive charting capabilities, advanced order management tools, and a wide range of technical indicators and expert advisors for automated trading.
The availability of multiple platforms allows traders to choose the one that best suits their trading preferences and strategies.
See the trading platform comparison table below:
Broker | Trading Platform |
IFC Markets | NetTradeX, MetaTrader 4, MetaTrader 5 |
Trading 212 | Trading 212 |
TrioMarkets | MetaTrader 4, MetaTrader 5, cTrader |
XGLOBAL Markets | MetaTrader 4, MetaTrader 5, XGLOBAL Mobile Trader |
Please note that this information is subject to change, and it's always recommended to verify the availability of specific trading platforms with the respective brokers directly.
IFC Markets offers a diverse range of deposit and withdrawal options to cater to the needs of its clients. Traders can choose from various methods such as International Bank Transfer, bank cards (Visa/MasterCard), Pasargad Novin, Cryptocurrencies, TopChange, Perfect Money, Boleto, Bitwallet, WebMoney, ADVCash, and Fasapay.
IFC Markets | Most other | |
Minimum Deposit | $1 | $100 |
The minimum deposit and withdrawal amounts, fees, and processing times may vary depending on the chosen method. It is recommended to refer to the provided screenshots or consult the IFC Markets website for detailed information on each payment option.
IFC Markets is committed to providing comprehensive customer support to assist its clients. With 24/7 availability, traders can reach out to the support team through various channels, including 19 languages live chat, phone, email, Skype, WhatsApp, Telegram, Messenger, or by requesting a callback. This wide range of communication options ensures that clients can choose the method that is most convenient for them.
Additionally, IFC Markets maintains an active presence on popular social media platforms such as Twitter, Facebook, Instagram, YouTube, and LinkedIn, allowing clients to stay updated on the latest news and developments. Furthermore, an FAQ section is available on the website, providing answers to frequently asked questions and assisting traders in finding quick solutions to common queries.
Overall, IFC Markets' customer service is considered reliable and responsive, with various options available for traders to seek assistance.
Pros | Cons |
• Multiple communication channels | N/A |
• 24/7 multilingual customer support availability | |
• Live chat support | |
• Social media presence and interaction |
IFC Markets places great emphasis on providing educational resources to support traders of all skill levels. Their educational offerings include a variety of materials designed to enhance traders' knowledge and skills. Video tutorials are available, offering step-by-step guidance on various trading topics. Additionally, Forex and CFD trading books provide in-depth information and insights into market analysis, trading strategies, and risk management.
Traders can also benefit from the Trader's Glossary, which contains a comprehensive list of terms and definitions commonly used in the financial markets. For those who seek a more structured learning experience, the IFCM Trading Academy offers courses tailored to different levels of expertise, including beginner, intermediate, and expert.
On our website, you can see that some reports of scams and unable to withdraw. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.
In conclusion, IFC Markets offers a diverse range of trading instruments, multiple trading platforms, and educational resources, providing traders with opportunities for growth and flexibility. The availability of various deposit and withdrawal methods, along with responsive customer support, adds convenience to the trading experience.
However, the lack of regulatory licenses and reports of scams and withdrawal issues raise concerns about the safety and reliability of the broker. Traders should carefully evaluate the risks associated with trading on an unregulated platform and consider alternative options with stronger regulatory oversight.
Q 1: | Is IFC Markets regulated? |
A 1: | No. The CYSEC license is exceeded, the FSC license is offshore regulatory, and the LFSA license is a suspicious clone. |
Q 2: | At IFC Markets, are there any regional restrictions for traders? |
A 2: | Yes. It does not provide services for United States, BVI, Japan and Russian residents. |
Q 3: | Does IFC Markets offer demo accounts? |
A 3: | Yes. |
Q 4: | Does IFC Markets offer the industry leading MT4 & MT5? |
A 4: | Yes. It supports NetTradeX, MT4 and MT5. |
Q 5: | What is the minimum deposit for IFC Markets? |
A 5: | The minimum initial deposit to open an account is 1 USD | 1 EUR | 100 JPY. |
Q 6: | Is IFC Markets a good broker for beginners? |
A 6: | No. It is not a good choice for beginners. Though it advertises well, dont forget the truth that IFC Markets is unregulated. |
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive multibankfx and ifc-markets are, we first considered common fees for standard accounts. On multibankfx, the average spread for the EUR/USD currency pair is -- pips, while on ifc-markets the spread is From 0.4.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
multibankfx is regulated by ASIC,DFSA,FCA,FSC,CIMA. ifc-markets is regulated by CYSEC,FSC,LFSA.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
multibankfx provides trading platform including -- and trading variety including --. ifc-markets provides trading platform including Master-Floating,Demo-Floating,Micro-Floating,Standard-Floating ,Master-Fixed,Demo-Fixed,Micro-Fixed,Standard-Fixed,Demo-Fixed & Floating,Beginner-Fixed & Floating,Standard-Fixed & Floating and trading variety including --.