Complete Head-to-Head Comparison · 2026
Cmc Markets Vs MultiBank Group: Which Broker Is Better For New Zealand Traders?
Which broker is better for New Zealand traders in 2026? Expert analysis across 12 categories.
CMC Markets
FCA · ASIC · MAS · Founded 1989
VS
MultiBank Group
BaFin · ASIC · FSC · Founded 2005
Quick Verdict — New Zealand Traders
Best Overall
CMC Markets
Higher overall score & more features
Best Spreads
MultiBank Group
Lower trading costs for scalpers
Islamic Accounts
MultiBank Group
Swap-free for New Zealand Muslims
Best for Beginners
CMC Markets
Better education & support
$0 vs $50
Min deposit
1:1 vs 1:1
Max leverage
FCA vs BaFin
Top regulator
4.2 vs 4.1
Our scores
Table of Contents
Head-to-head comparison
New Zealand traders seeking a reliable online broker often narrow their choices to CMC Markets and MultiBank Group. Both are globally recognised, but they differ significantly in regulation, pricing, platform technology, and the types of traders they serve. This detailed comparison examines their offerings under the Financial Markets Authority (FMA) framework to help you decide which broker aligns best with your trading needs in New Zealand.
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Overall Scores Comparison
CMC Markets
FCA · ASIC · MAS
4.2
CompareBroker score
Winner
VS
MultiBank Group
BaFin · ASIC · FSC
4.1
CompareBroker score
Trading Costs
Spreads, commissions
4.3
4.2
Platforms
MT4, MT5, cTrader, TV
3.9
3.8
Regulation
Safety, oversight
4.5
4.4
Deposits
Local payments
4.3
4.2
Customer Support
24/5, chat, phone
4.0
3.9
Education
Webinars, guides
4.3
4.2
Execution
Speed, slippage
4.0
4.2
Mobile App
iOS, Android
4.2
4.1
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Trading Costs - Spreads & Commissions
| Instrument | CMC Markets | MultiBank Group | Winner |
|---|---|---|---|
| EUR/USD avg spread | 0.09 pips + $3.5/lot | 0.0 pips + $3.5/lot | MultiBank Group |
| XAU/USD (Gold) | $0.14 typical | $0.12 typical | MultiBank Group |
| GBP/USD avg spread | 0.29 pips | 0.23 pips | MultiBank Group |
| Standard acc spread | from 1.0 pips | from 0.8 pips | MultiBank Group |
| ECN commission | $3.5/lot/side | $3.5/lot/side | Tie |
| Min deposit | $0 | $50 | CMC Markets |
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Account Types Comparison
| Account Type | CMC Markets | MultiBank Group |
|---|---|---|
| Standard account | ✓ | ✓ |
| ECN / Raw spread | ✓ | ✓ |
| Islamic (swap-free) | ✗ | ✓ |
| Demo account | ✓ | ✓ |
| PAMM / MAM account | ✗ | ✗ |
| Zero spread account | ✗ | ✓ |
| Copy trading | ✗ | ✗ |
| Min deposit | $0 | $50 |
⚖️
Leverage Comparison - New Zealand Traders
| Entity / Asset | CMC Markets | MultiBank Group |
|---|---|---|
| New Zealand (offshore) | Up to 1:1 | Up to 1:1 |
| Forex major pairs | 1:1 | 1:1 |
| Gold (XAU/USD) | 1:200 | 1:200 |
| Indices | 1:100 | 1:100 |
| Cryptocurrencies | 1:2 to 1:10 | 1:2 to 1:10 |
Leverage Warning for New Zealand Traders
Traders in New Zealand typically open accounts under offshore entities with up to 1:500 leverage. High leverage significantly increases risk.
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Trading Instruments - Assets Available
| Asset Class | CMC Markets | MultiBank Group | Winner |
|---|---|---|---|
| Forex pairs | 90+ | 65+ | CMC Markets |
| Gold (XAU/USD) | ✓ | ✓ | Tie |
| Oil (WTI/Brent) | ✓ | ✓ | Tie |
| Stock indices | 25+ indices | 20+ indices | CMC Markets |
| Crypto CFDs | 30+ | 20+ | CMC Markets |
| Stocks / Share CFDs | 1,000+ | ✗ | MultiBank Group |
| ETFs | ✓ | ✗ | Tie |
🖥️
Platforms Comparison
| Platform | CMC Markets | MultiBank Group |
|---|---|---|
| MetaTrader 4 (MT4) | ✓ | ✓ |
| MetaTrader 5 (MT5) | ✓ | ✓ |
| cTrader | ✗ | ✗ |
| TradingView | ✗ | ✗ |
| Expert Advisors (EAs) | ✗ | ✓ |
| Scalping allowed | ✓ | ✓ |
| Hedging allowed | ✓ | ✓ |
⚡
Execution Quality - Speed & Slippage
| Factor | CMC Markets | MultiBank Group | Winner |
|---|---|---|---|
| Execution model | ECN/STP | True ECN | MultiBank Group |
| Avg execution speed | ~30ms | ~40ms | CMC Markets |
| Slippage | Very low | Very low | Tie |
| Requotes | Very rare | Very rare | Tie |
| Scalping allowed | ✓ | ✓ | Tie |
| EA / Bot trading | ✗ | ✓ | Tie |
🛡️
Regulation & Safety for New Zealand Traders
| Safety Factor | CMC Markets | MultiBank Group |
|---|---|---|
| Primary regulator | FCA | ASIC |
| Top-tier regulated | ✓ | ✓ |
| Investor protection | ✓ | ✓ |
| Segregated funds | ✓ | ✓ |
| Neg. balance protection | ✓ | ✓ |
Verify regulation independently
Always verify your broker's registration directly on the official regulator website before depositing. Regulation details for New Zealand traders may differ by entity.
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Deposits & Withdrawals for New Zealand
| Payment Method | CMC Markets | MultiBank Group |
|---|---|---|
| Bank Wire Transfer | ✓ | ✓ |
| Visa / Mastercard | ✓ | ✓ |
| Skrill | ✓ | ✓ |
| Neteller | ✗ | ✓ |
| USDT / Crypto | ✗ | ✗ |
| Withdrawal time | 5 business days | Internal Processing: Handled by the finance department within 24 hours.E-Wallets & Crypto: Usually completed within 1 to 2 business days (or network dependent).Credit/Debit Cards: Arrives in 1 to 5 business days.Local Bank Transfers: Processed within 24 hours.International Wires: Takes 2 to 5 business days. |
☪️
Islamic Accounts - Swap-Free for New Zealand Muslims
| Islamic Account Feature | CMC Markets | MultiBank Group |
|---|---|---|
| Swap-free available | ✗ | ✓ |
| Admin fee instead of swap | On some instruments | On some instruments |
| MT4 / MT5 supported | ✓ | ✓ |
| How to apply | Contact support | Contact support |
Islamic Account Note
Always verify current swap-free terms directly with broker support before trading. Admin fees or holding period restrictions may apply.
💬
Customer Support Comparison
| Support Feature | CMC Markets | MultiBank Group | Winner |
|---|---|---|---|
| Live chat | ✓ | ✓ | Tie |
| Phone support | ✓ | ✓ | Tie |
| Email support | ✓ | ✓ | Tie |
| 24/7 support | ✗ | ✗ | Tie |
| Response time (chat) | <2 minutes | <3 minutes | CMC Markets |
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Mobile App Comparison
| Mobile Feature | CMC Markets | MultiBank Group | Winner |
|---|---|---|---|
| iOS App Store rating | 4.5 stars | 4.3 stars | CMC Markets |
| Google Play rating | 4.3 stars | 4.2 stars | CMC Markets |
| Biometric login | ✓ | ✓ | Tie |
| Push notifications | ✓ | ✓ | Tie |
| Full charting on mobile | ✓ | ✓ | Tie |
| TradingView mobile | ✗ | ✗ | Tie |
📚
Education & Research Tools
| Resource | CMC Markets | MultiBank Group | Winner |
|---|---|---|---|
| Video tutorials | 100+ videos | 50+ videos | Tie |
| Webinars (live) | Weekly | Monthly | Tie |
| Economic calendar | ✓ | ✓ | Tie |
| Market analysis | Daily | Basic | CMC Markets |
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Real User Reviews - Trustpilot
⚖️
Pros & Cons of Each Broker
CMC Markets
Pros
+Top-tier regulated
Cons
-No TradingView
-No 24/7 support
MultiBank Group
Pros
+Top-tier regulated
+Islamic swap-free account
Cons
-No TradingView
-No 24/7 support
👤
Who Should Use Which Broker? - New Zealand Guide
Choose CMC Markets if you...
Are a beginner trader in New Zealand
Want TradingView integration
Have less than $200 to start
Want FCA regulation
Choose MultiBank Group if you...
Are a beginner trader in New Zealand
Are a scalper or EA trader
Need PAMM/MAM accounts
Want True ECN regulation
❓
FAQ - CMC Markets vs MultiBank Group in New Zealand
Are both CMC Markets and MultiBank Group regulated in New Zealand?
+Which broker offers lower trading costs for New Zealand traders?
+Can New Zealand traders use MetaTrader 4 with both brokers?
+Final Verdict - New Zealand 2026
CMC Markets wins overall
After comparing 12 categories, CMC Markets comes out ahead for most New Zealand traders.
Risk Disclaimer: CFDs and forex trading involve significant risk of loss. Between 74-89% of retail investor accounts lose money when trading CFDs. CMC Markets: 69% of retail CFD accounts lose money. All data verified as of October 2026.
