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MultiBank vs FXGT.com 2024

BrokerNotes.co

Written by BrokerNotes.co

August 06, 2024

Trying to decide between MultiBank and FXGT.com? We’ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, MultiBank ranks more highly than FXGT.com.

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Compare

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Overall Rating MultiBank FXGT.com
Overall Rating star 7.5 /10 star 6.6 /10
Offering of Investments star 7.5 /10 star 6.0 /10
Commissions & Fees star 7.5 /10 star 7.0 /10
Platform & Tools star 7.5 /10 star 7.0 /10
Research star 6.5 /10 star 6.0 /10
Mobile Trading star 7.5 /10 star 7.0 /10
Education star 6.5 /10 star 5.5 /10
Account Type MultiBank FXGT.com
Standard Trade Size (100,000 units) info Yes Yes
Mini Trade Size (10,000 units) info Yes Yes
Micro Trade Size (1,000 units) info Yes Yes
Islamic Account info Yes No
Deposit/Withdrawal Options MultiBank FXGT.com
Minimum Deposit info $50 $5
Bank Wire (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
PayPal (Deposit/Withdraw) info No No
ACH or SEPA Transfers info Yes Yes
Copy Trading MultiBank FXGT.com
Social Trading / Copy Trading info Yes Yes
DupliTrade info No No
ZuluTrade info No No
Cryptocurrency MultiBank FXGT.com
Cryptocurrency (Physical) info Yes No
Cryptocurrency (Derivative) info Yes Yes
Bitcoin info Yes Yes
Ethereum info Yes Yes
Forex Trading (Spot or CFDs) MultiBank FXGT.com
Forex Trading (Spot or CFDs) info Yes Yes
Mobile Trading - Forex or CFDs info Yes Yes
Indices (Index CFDs) MultiBank FXGT.com
DAX info Yes No
Dow Jones info Yes No
FTSE info Yes Yes
NASDAQ 100 info Yes Yes
Nikkei info Yes No
SP 500 info Yes Yes
Investments MultiBank FXGT.com
Forex Trading (Spot or CFDs) info Yes Yes
Spread Betting info No No
Social Trading / Copy Trading info Yes Yes
Metals info Yes Yes
Energies info Yes Yes
Agriculturals info Yes No
ETF info Yes No
U.S. Stocks (CFD) info Yes Yes
Trading Platforms MultiBank FXGT.com
Apple iOS App info Yes Yes
Android App info Yes Yes
Proprietary Platform info Yes No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info Yes Yes
Regulatory Licenses MultiBank FXGT.com
Tier-1 Licenses info 3 1
Australia (ASIC Authorised) info Yes No
Canada (CIRO Authorised) info No No
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info Yes No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info No No
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes Yes info
Tier-2 Licenses info 1 1
Tier-3 Licenses info 0 0
Research, Education MultiBank FXGT.com
Trading Central (Recognia) info No No
Forex News (Top-Tier Sources) info Yes No
Daily Market Commentary info No No
Autochartist info No No
Investor Dictionary (Glossary) info No Yes
Videos - Beginner Trading Videos info Yes No
Client Webinars (Archived) info No No
Trading Costs MultiBank FXGT.com
Minimum Deposit info $50 $5
Average Spread EUR/USD - Standard info N/A N/A
All-in Cost EUR/USD - Active info N/A N/A
Active Trader or VIP Discounts info No No
Trading Tools MultiBank FXGT.com
Watchlists - Total Fields info 7 5
Mobile Watchlist info Yes Yes
Charting - Indicators / Studies (Total) info 38 37
Mobile Charting - Indicators / Studies info 30 30
Trust Factors MultiBank FXGT.com
Year Founded info 2005 2019
Publicly Traded (Listed) info No No
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes Yes info
Trust Score info 84 69
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MultiBank vs FXGT.com Comparison

Comparing forex brokers side by side is no easy task. Our research team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Trying to decide between MultiBank and FXGT.com? Our independent database powered by our unbiased research will help you compare MultiBank vs FXGT.com side-by-side.

What is Trust Score?

Trust Score is a data-driven rating system that provides an at-a-glance rating of a broker’s overall trust by tracking 60+ brokers and over 100 regulatory jurisdictions across the globe. To make things clearer for everyday traders, we’ve created a five-tier system for regulators and Trust Score rating labels. Learn more about Trust Score, and check out our country guides to see the most trusted brokers in your country of residence.

Can I trust MultiBank?

MultiBank has a Trust Score of 84, giving it a "Trusted" Trust Score Label.

Can I trust FXGT.com?

FXGT.com has a Trust Score of 69, giving it a "High Risk" Trust Score Label.

Is MultiBank a good broker?

MultiBank offers a solid range of forex and CFD trading services, making it an average choice for traders. With an overall rating that indicates satisfactory performance, it provides a reliable trading experience but may lack some advanced features found in other brokers.

Is FXGT.com a good broker?

FXGT.com offers multiple account types and plugins for MetaTrader (depending on the trading tool plan subscription plans you choose) but falls short compared to the best brokers for MT4 and MT5. Beyond rudimentary sentiment and market data, FXGT’s research is limited. Education at FXGT.com consists of a few ebooks and a scattering of content, and its YouTube Channel has been offline as of the time of our review in November 2023.

What Tier-1 jurisdictions is each broker regulated in?

Tier-1 is reserved for the strictest, most stringent regulatory jurisdictions in the world. Tier-1 regulators impose additional capital requirements and require a tougher initial screening process. MultiBank holds regulatory licenses in the following Tier-1 jurisdictions: Australia (ASIC Authorised) and Singapore (MAS Authorised). FXGT.com, on the other hand, is licensed in these Tier-1 regulatory jurisdictions: none. Neither have Canada (CIRO Authorised), Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), New Zealand (FMA Authorised), Switzerland (FINMA Authorised), United Kingdom (U.K.) (FCA Authorised) and USA (CFTC Authorized)

What Tier-2 jurisdictions is each broker regulated in? What about Tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, MultiBank is Cyprus (CySEC Authorised) and UAE (DFSA/Central Bank Authorised), while FXGT.com is Cyprus (CySEC Authorised) and South Africa (FSCA Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised) and Thailand (SEC Authorised). When comparing tier-3 licenses MultiBank is British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised) and Vanuatu (VFSC Authorised), while FXGT.com is Vanuatu (VFSC Authorised).. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised) and Mauritius (FSC Authorised).

Which broker offers more trading platforms?

Whether your broker develops its own proprietary platforms or provides access to popular third-party platforms, you should make sure you can use your preferred type of trading platform. In our testing, we found that MultiBank offers a Proprietary Platform and Desktop Platform (Windows), whereas FXGT.com supports a Desktop Platform (Windows). Neither have cTrader, DupliTrade and ZuluTrade

Does MultiBank offer MetaTrader? Does FXGT.com offer MetaTrader?

Both MultiBank and FXGT.com offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If you’re new to MetaTrader 4 here’s our educational guide on how to use MT4.

How do MultiBank and FXGT.com differ in terms of minimum deposit? What about average spreads and funding options?

MultiBank requires a minimum deposit of $50, while FXGT.com requires a minimum deposit of $5. It's also important to ensure your broker accepts the funding options and deposit methods that work best for you. In our research, we've found that MultiBank supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for funding and deposit methods, whereas FXGT.com supports Bank Wire (Deposit/Withdraw) and Visa/Mastercard (Credit/Debit). Neither have PayPal (Deposit/Withdraw)

Which broker offers more tradeable asset classes, MultiBank or FXGT.com?

When choosing a forex broker, it’s important to consider each broker’s available investment products and tradeable asset classes. We’ve researched each broker’s individual offering of investments to help you pick the right broker for what you want to trade. During our testing, we found that MultiBank delivers a more diverse selection of investment options than FXGT.com, offering tradeable asset classes and investment types such as Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Neither have Spread Betting.

We also keep track of each broker’s total number of tradeable symbols; MultiBank offers 1042, and FXGT.com offers a total of 117 tradeable symbols.

Can I trade cryptocurrency with MultiBank or FXGT.com?

Crypto trading has become popular among forex traders across a range of international jurisdictions. As a result, many forex brokers now offer crypto products to their clients; most crypto assets are offered either as an underlying physical asset (such as when you own actual bitcoin assets, for example) or as a derivative product like a CFD. If you are looking to trade physical cryptocurrencies, you’ll find that MultiBank offers clients access to trading physical cryptocurrencies while FXGT.com does not.

Who offers more research tools, MultiBank or FXGT.com?

Market research plays a huge role in any forex trader’s ability to conduct analysis within the global forex market. We test each broker’s research offering to help you decide which broker is right for your technical or fundamental analysis needs. MultiBank delivers the following research tools: Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading. FXGT.com, on the other hand, provides the tools listed here: Stock Charts and Social Trading / Copy Trading. Neither have Autochartist, Daily Market Commentary and Trading Central (Recognia)

Broker Reviews

Still looking for more information, read our broker reviews.

MultiBank Review

FXGT Review

Overall winner: FXGT.com

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announcementPlease 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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