MultiBank Group Review & Rating 2023Visit MultiBank Group
Read this MultiBankFX review before opening your account. Is MultiBank Group a Reliable Forex Broker? What are the benefits of trading with this broker? Unbiased trader review about this international CFDs provider.
MultiBank Group offers advanced trading platforms and tight pricing in online ﬁnancial products, including Forex, Metals, Shares, Commodities, Indices and Cryptocurrencies. From the regulatory perspective, MultiBank is regulated by 11 financial regulators worldwide. Besides this, the broker maintains their clients' funds fully segregated from their company investments. Having the regulatory and safety measures in place, MultiBank scores well on our trust score.
At AtoZMarkets.com we have readers-first policy. Thus, we always put our readers' safety as a priority in our business line. We will never just satisfy ourselves with Brokers' public information, however, go in-depth. Often we will also open live and demo accounts and test brokers directly!
For the above mentioned, we stand on our toes checking all the ins and outs in a broker’s business history, biography and reputation. The very same standards apply in the case of this MultiBank Group broker review. In this review, we look into the MultiBank Group.
MultiBank Group was established in California, USA, in 2005 with headquarters in Hong Kong. At present MultiBank has over 25 globals offices. Combining prime liquidity, cutting edge technology and first-class customer service, MultiBank Group delivers advanced trading platforms and tight pricing in online ﬁnancial products, including Forex, Metals, Shares, Commodities, Indices and Cryptocurrencies. MultiBank Group boasts a daily trading volume in excess of $7.2 billion and provides services to over 320,000 clients across 90 countries worldwide.
We asked MultiBank Group what makes you different? What is the mission of MultiBank Group?
"Our mission is to provide exceptional products and services to their clients and to continue heavy investments into technology and regulations to benefit the customers and the forex industry as a whole." the company representative told AtoZMarkets.
The company has a long history and originates from one of the toughest markets, the CFTC guided US Market. In overall, the broker is regulated with 11 regulatory authorities worldwide, which makes them a trustworthy broker to trade with.
Furthermore, the company is keen on its client fund protection. Therefore, they offer negative fund protection, but also MultiBank maintain to keep their clients' funds segregated from the company's investments and funds.
Traders can use two trading platforms from MultiBank Group:
- MetaTrader 4
- MetaTrader 5
- Social Trading
- Mobile App
MT4 - like many other Forex brokers, MultiBank FX offers MetaTrader4 platform to its customers. The MetaTrader 4 is an independent trading platform, developed for trading FX, commodities and other products and is one of the most advanced and easy platforms to use.
MultiBank Group also provides the MetaTrader5 trading platform, which is common in the FX market these days.
In addition to the wide range of markets available to trade, the MultiBank FX trading platform provides traders with a multilingual interface, instant execution. The company also offers built-in help guides for MT4 and MetaQuotes Language 4, a complete technical analysis package including a wide range of in-built indicators and charting tools, various custom indicators and time periods and more.
There is no restriction for EA trading. Traders can create and test their automated trading strategies by using the MetaEditor, Strategy Tester and Compiler tools within the MT4 platform. Alternatively, you can also see some of the available trading strategies on our trading tools directory.
With the MetaEditor automated trading system, clients may create Expert Advisors, software programs enabling traders to constantly monitor the markets. Custom Indicators help traders to predict future price movements by analyzing past and current price information.
Moreover, traders can also take advantage of MultiBank Group’s Mobile trading platforms which are available for Android and iOS users.
MultiBank Group provides three different types of accounts to its clients.
- Standard: The Standard account allows trading with spreads starting at 1.5 pips under typical market conditions, without commission. The account is fully STP and is available through the Metatrader4 platform. The minimum deposit is $50 for this account.
- ECN Pro: The ECN Pro account allows trading with floating spreads starting at 0.0 pips. As its name suggests, the account is of the no dealing desk ECN type. This account is available through the MetaTrader 4 platform. The minimum deposit is $5000 for this account.
- MultiBank Pro: The MultiBank Pro account allows trading with floating spreads starting at a minimum of 0.8 pips under typical market conditions, without commission. The minimum deposit is $1000 for this account.
- MEX SPORTS: The MEX SPORTS account allows you to trade over 300 Sports stock and Financial CFDs with a leverage of up to 1:100 The minimum deposit is $50 for this account.
MultiBank's clients can trade popular cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum, Ripple, and Litecoin.
MultiBank's trading conditions really seem good. The leverage levels provided are very low as compared to other forex brokers, reaching 1:500 maximum, which might suffice the needs of almost all types of traders. For ECN Pro platform, the broker has a commission of $2/3 lots round trip, while no commission is being charged for MultiBank Pro & Standard account types.
Besides, the cost of trading with this broker seems moderately low – the initial deposit required is $50 and the benchmark EUR/USD spread is floating around 0.7 pips (no commission applies).
Conditions in detail:
- Trading model: Hybrid Type (STP and market maker)
- Decimal Pricing: Five digits
- Scalping: No
- Hedging: Yes
- Minimum deposit: $50 USD for Standard and MEX SPORTS accounts, $1000 for MultiBank Pro and $5000 for ECN Pro
- Type of execution: Market
- Spread type: variable
- Leverage: up to 1:500
- Expert advisor: Allowed and enabled
- Account Currency Base: USD.
Depositing funds into a MultiBank Group account is an easy and secure process. Funding can be done using a wide range of methods, including:
- Wire Transfer,
- Credit card,
- Debit card,
- Union Pay,
- Thunder X Pay,
- Poli Payment.
Withdrawals can be made over the website. Also, MultiBank Group does not impose any minimums requirements on deposits or withdrawals.
MultiBank Group's customer support is multilingual and is available 24/7. You can contact their customer support through telephonic support, e-mail, direct live chat, and video conference. The customer support is localized over 25 global offices with dedicated phone consultants for resolving each trader's query in their native language.
MultiBank Group has licenses and regulations across 4 continents and works with financial regulators across various jurisdictions to provide investor protection.
MultiBank Group is licensed and regulated by ASIC, BAFIN, CIMA, FMA, TFG, HKCE, MAS, AUSTRAC, BVI, VFSC.
As per our research, MultiBank Group is secure, reliable and regulated and provides a professional trading environment for clients who are new or professional in Forex or CFD trading, however, we always recommend to do your own research before opening an account with MultiBank Group.