VPNInfobaseChoose Proton VPN if you want a free tier, apps stated to be open source and annual no-logs audits. Choose Mullvad if you want a flat price and anonymous payment. Choose IVPN if you want a single founder-owned company and annual audits by one firm. All three are on Privacy Guides’ recommended list, which says it is not affiliated with any provider.
The three side by side
| Attribute | Proton VPN | Mullvad | IVPN |
|---|---|---|---|
| Operator | Proton AG, Switzerland | Amagicom AB and Mullvad VPN AB, Sweden | IVPN Limited, Gibraltar |
| Owner, as stated by the vendor | Non-profit Proton Foundation is the primary shareholder | Its two founders own 100% | Its founder owns 100% |
| Audits | Securitum no-logs audit each year 2022 to 2026, reports published; separate app audits | Long list of technical audits, 2018 to June 2026, by several firms; no separate no-logs assurance report in the register | Cure53 audits since 2019; eighth annual audit scheduled July 2026 |
| Open source | Vendor states all apps out of beta | Vendor says most of its software is open source; per-client not verified | Vendor states its services are open source |
| Price | Not readable (pricing page loads in the browser); free tier exists | EUR 5 a month flat; 10% off in Bitcoin, Bitcoin Cash or Monero | USD 6 a month or USD 60 a year (Standard) |
| Payment | Not checked | Cash, crypto, card, PayPal, bank wire and more | Card, PayPal, Bitcoin, Lightning, Monero, cash |
| Refund | 30 days, first purchase, once per user | 14 days, not for cash payments | 30 days, once per account |
| Incident on record | None | April 2023 search warrant; Mullvad says nothing was taken | August 2026 payment-server compromise; IVPN says no customer data affected |
Every cell is what the vendor’s page says on the date checked (Mullvad audit list and IVPN team page 28 September, the rest 29 September). The register has the source for each.
Where they differ
Ownership. Only Proton is owned by an entity that is not a person or a group of founders. That can mean stability; it can also mean less visibility into who decides. Mullvad and IVPN are small and founder-owned, which the ownership table sets beside the big VPN groups.
Audit kind. Proton’s five audits examine the no-logs claim. Mullvad’s and IVPN’s reports are mostly technical tests of servers, apps, payment systems and DNS. Mullvad’s most recent entries (Android app in June 2026, an account and payment API review in January 2026) are not no-logs audits. The audit tracker explains the distinction.
Payment and price. Mullvad and IVPN both list cash and Monero, and both say no email is needed; Proton is not checked here. Mullvad’s price does not change with the term, so there is no first-term gap; IVPN states no promo-renewal gap either. Proton’s price could not be read, so we make no comparison.
Incidents. Read both entries in the incident timeline: the Mullvad warrant is a raid where the vendor says nothing was found to take; the IVPN case concerns its Bitcoin payment server, which IVPN says did not touch VPN infrastructure or customer funds. Both are the vendor’s accounts.
Pick by need
- Free tier or one account across other services: Proton VPN.
- Pay without a card or an email: Mullvad or IVPN.
- One flat price with no renewal surprise: Mullvad. See the renewal price table.
- Newest audit of the apps and payment code: Mullvad’s 2026 reports.
- Reports on the no-logs claim itself: Proton, from Securitum.
Researched from the vendors’ own pages and Privacy Guides; not a measured comparison. Proton VPN review, Mullvad review, IVPN review.
Mullvad against NordVPN specifically: Mullvad vs NordVPN.