A compact planar multiband MIMO antenna system is developed. The MIMO antenna consists of two symmetric antenna elements, each of which comprises three effective radiators: a driven monopole, a meandered S- and F-shaped strip and all are printed on the front side of a thin low-cost substrate. At VSWR ≤ 2.75, the proposed MIMO antenna operates in the frequency range of LTE-1, LTE-2, LTE-3, LTE-7, LTE-40, and WLAN 2.4 GHz bands. The experimental results verify the simulations. Higher isolation (> 18 dB) is achieved. The received signals satisfy the condition Pi≈Pj. The measured correlation coefficient is lower than 0.01 and radiation patterns of each antenna unit can cover complementary space region that confirms both the spatial and pattern diversity.