FXTM or MultiBank FX – which is better for UK traders 2024? Compare FXTM and MultiBank FX in this detailed breakdown of their platforms, features and fees.
FXTM is a forex and CFD broker established in 2011 and operating across four continents. The company is secure and regulated by leading authorities, including the FCA. Offering 1,000+ markets and three account types, they cater to all levels of trader.
MultiBank FX is an established broker offering forex and CFD products since 2005. With 20,000+ instruments, plenty of local payment methods and 24/7 multilingual customer support, the broker is a popular choice among traders globally. New clients can also access a variety of bonus offers and access the hugely popular MT4 and MT5 trading platforms.
Pros
FXTM’s UK entity offers excellent client protections, notably industry beating coverage up to $1 million per client and segregated accounts, enhancing security for traders with large balances.
FXTM emerges as a top MetaTrader broker with custom MT4 add-ons, including a Pivot Point Indicator, Pip Value Calculator, and Spread Indicator, for more precise trading.
The introduction of FXTM Invest allows traders to follow top strategies with detailed performance stats and risk scores. This feature benefits newer traders by providing clear metrics to match their preferred risk levels.
FXTM supports a terrific range of payment methods, especially local options in Africa and Asia like M-Pesa and TC Pay Wallet. And with e-wallet withdrawals processed in as little as 30 minutes, this suits traders who require quick access to funds.
FXTM’s Advantage and Advantage Plus accounts offer tight spreads (from 0.0 pips) and low or no commissions, designed for short-term traders looking to minimize costs.
24/7 multilingual customer support available across all accounts
Renowned MT4 and MT5 platforms, plus proprietary MultiBank-Plus solutions and social trading
Vast range of local payment methods with fast withdrawals within 24 hours
Global presence with 10+ regulatory licenses, including ASIC (Australia) and MAS (Singapore)
MAM, PAMM and FIX API access for high-volume or pro traders, plus EAs and VPS hosting for algorithmic trading
Cons
FXTM’s strong UK regulation doesn’t extend globally, so despite negative balance protection, non-British traders may have limited recourse options in case of disputes.
FXTM's educational offerings have come a long way, notably its informative e-books, but they are often tailored to beginners, making them less appealing to experienced traders.
FXTM only offers MetaTrader 4/5 for desktop trading, with no proprietary platform like eToro for a customized trading experience. MT4/5 is feeling increasingly outdated for active traders.
FXTM focuses on CFDs and a modest collection of stocks but lacks ETFs, options, and futures, which can limit diversification for traders seeking more asset types to capitalize on different markets.
FXTM charges a $10 inactivity fee after only three months of no trading - shorter than many brokers, which can be frustrating for those who don’t trade continuously.
$5,000 minimum deposit required to access ECN spreads
Average education and market research
$60 monthly inactivity fee
Awards
Best Trading Experience 2021 - World Finance Awards
Best Online Leveraged Trading Services 2021 - Global Business Awards
Best Forex Education Partner Nigeria 2021 - World Business Outlook
Best Trading Experience 2020 - World Finance Awards
Best ECN Broker 2020 - DayTrading.com
Best Gold Broker 2023 - FX Empire
Best Forex Broker 2023 - Fintech & Crypto Summit Bahrain
Chairman Of The Year 2023 - Le Fonti Awards Dubai
Leading Financial Derivatives Institution 2023 - Le Fonti Awards Dubai
The Most Trusted Broker In The Middle East 2023 - Ultimate Fintech
Best Broker Of The Year 2022 - Traders Union
Best Globally Recognized Forex Broker 2022 - Forex Expo Dubai
Best Crypto Broker Asia & Europe 2022 - Global Brands Magazine
Best Financial Derivatives Broker Asia & Europe 2022 - Global Brands Magazine
Best Global Broker 2022 - Pan Finance
Best Global Forex Chairman Of The Year 2022 - Global Business Review Magazine
Best New Global Asset Digital Exchange - MultiBank Crypto Exchange 2022 - Global Business Review Magazine
The 50 Most Influential Figures In Global Financial Markets 2022 - Forex Traders Summit Dubai
Best Global Crypto Broker 2021 - Forex Expo Dubai
Bets Global Broker 2021 - Finance Magnates
Best Broker MENA 2021 - Finance Magnates
Best Broker Africa 2021 - Finance Magnates
Best Broker LATAM 2021 - Finance Magnates
Most Trusted Global Broker 2021 - Global Business Review Magazine
The 50 Most Influential Figures In Global Financial Markets 2021 - Forex Traders Summit Dubai
Best FX Service Provider 2020 - International Business Magazine
Best FX Customer Service 2020 - Forex Awards
Best Apac Region Broker 2020 - International Financial Awards
Best Forex & CFD Broker 2019 - Jordan Forex & Expo Awards
Financial Services Provider of the Year Asia 2019 - Global Brands Magazine
Best Forex Trading Platform Hong Kong 2018 - International Finance Magazine
FXTM deliver a great mobile trading experience. Fast, secure and easy-to-use, the broker also supports both MetaTrader 4 and 5 and delivers real time quotes, all trading execution types and full account maintenance. The charting facilities are also among the best of any mobile app. Download it today.
iOS App Rating
4.8
Android App Rating
4.4
Margin Trading
Yes
No
MetaTrader 4
Yes
Yes
MetaTrader 5
Yes
Yes
cTrader
No
Yes
AlgoTrader
No
No
OmniTrader
No
No
TradingView
No
No
Autochartist
No
No
eSignal
No
No
Trading Central
No
No
STP Account
Yes
No
ECN Account
Yes
Yes
DMA Account
No
No
MAM Account
Yes
No
PAMM Account
Yes
No
LAMM Account
No
No
Demat Account
No
No
AI / Machine Learning
No
No
Robo Advisor
No
No
Negative Balance Protection
Yes
No
Market Maker
Yes
Yes
P2P Trading
No
No
Spot Trading
Yes
Yes
Auto Trading
Expert Advisors (EAs) on MetaTrader
Yes (APIs)
Copy Trading
Yes
Yes
Copy Trading Platform
A great addition to market, the FXTM Invest app is easy to use and provides detailed performance stats and risk scores for Strategy Managers, plus a really handy video guide to help new copy traders understand key concepts like risk, drawdown, and returns.
Clients can start copy trading in three simple steps at MultiBank FX, gaining access to profitable online traders from around the world. Build a diverse portfolio while learning from experienced investors and saving time on market research.
Social Trading
No
Yes
Trade Signals
Yes
Yes
VPS Hosting
Yes
No
Tournaments
No
No
Demo Competitions
No
Yes
Ethical Investing
No
No
Custodial Account
No
No
Guaranteed Stop Loss
No
No
Inactivity Fee
$10
Islamic Account
Yes
Yes
Account Currencies
USD
EUR
GBP
NGN
Commodities
Gold
Silver
Natural Gas
Oil
Precious Metals
Gold
Silver
Oil
Cocoa
Coffee
Corn
Soybeans
Copper
CFD
FXTM’s CFD offering spans 600+ forex, stocks, commodities and indices, plus crypto (location dependent), with spreads lowered in recent years. Advanced traders can also get industry-topping leverage up to 1:3000 through Exinity Ltd, amplifying results but necessitating strict risk management.
Access thousands of CFDs with competitive pricing and leverage up to 1:500. A range of asset classes are available, including currencies, shares, indices, metals and commodities. CFDs can be traded on the market-leading MetaTrader platforms.
Leverage
1:30
1:500
FTSE Spread
0.8
Not offered
GBPUSD Spread<
0.1
0.8
Oil Spread
5.0
0.03
Stocks Spread
0.1
Variable
Forex
FXTM stands out with a strong selection of over 60 currency pairs, surpassing many competitors like AvaTrade. It also stands out with its six currency indices for traders aiming to diversify their forex portfolios, while the ECN account offers ultra-competitive spreads starting at 0 pips on majors, along with low commissions of just $3.50 per lot.
MultiBank FX offers trading on 50+ major, minor and exotic currency pairs. Spreads are tighter than many competitors and the broker offers higher leverage than most alternatives. Automated trading strategies are also permitted.
Assets
60+
45+
GBPUSD Spread
0.1
0.8
EURUSD Spread
0.0
0.3
EURGBP Spread
0.0
0.8
Currency Indices
USD
EUR
GBP
JPY
AUD
NZD
Cryptocurrency
Trade cryptocurrency CFDs on 11 popular digital tokens, including Bitcoin, Avalanche, and Dogecoin. Enjoy competitive floating spreads and accessible minimum lot sizes starting at just 0.01, perfect for aspiring crypto traders and experienced investors.
Trade a selection of the top cryptos against the US Dollar, including Bitcoin, Polkadot and Stellar with 50% leverage. Traders also benefit from fast execution speeds of <20ms.
