Forex, Metals, Shares, Indices Trading Broker MultiBank Group

Third is the Maximus account, which requires a minimum account size of $50. MultiBank Pro bills this as its “no frills” account, and the Maximus also uses the MT4 platform. Islamic traders also need not feel left out, as there are Islamic Account options for those who follow the Muslim faith. The Islamic Account at MultiBank allows Muslim traders to waive swap fees. In conclusion, though MultiBank might not work for complete novices, it is still a wide-ranging broker, able to fit with most experience levels.

Is MultiBank’s 20% deposit bonus legit?

Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA). MultiBank Group holds multiple broker licenses in a variety of jurisdictions, including from Tier-1 regulatory bodies such as the Australian Securities & Investment Commission (ASIC) and the Monetary Authority of Singapore (MAS).

An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content. All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. MultiBank Group’s best feature is its relatively high Trust Score; the broker holds multiple regulatory licenses, including Tier-1 licenses in Singapore and Australia.

The reality is that only 1042 markets are available by default on its MetaTrader platforms. This frustrating process is at odds with how most brokers deliver investment products. The best forex brokers make all markets available directly within the trading platform, making it far easier to find trading opportunities.

• The Pro account is suitable for traders looking to take advantage of zero commissions, tight spreads, and instant execution.
• MultiBank Group holds multiple broker licenses in a variety of jurisdictions, including from Tier-1 regulatory bodies such as the Australian Securities & Investment Commission (ASIC) and the Monetary Authority of Singapore (MAS).
• The reality is that only 1042 markets are available by default on its MetaTrader platforms.
• At MultiBank Group, the educational tools are light, so complete novices might find it a little difficult to get going.
• In conclusion, though MultiBank might not work for complete novices, it is still a wide-ranging broker, able to fit with most experience levels.

Withdrawal options

The VPS lets customers run terminals 24/7, experiencing “stable, reliable” trade conditions that let them trade remotely from anywhere. The VPS is compatible with all operating systems, and you don’t have to install the MetaTrader 4 terminal to get it to work. There is a high data rate exchange between the main and remote servers, so the VPS is fast and smooth. MultiBank Group has 80,000 clients and places millions of trades per year.

• ForexBrokers.com has been reviewing online forex brokers for over eight years, and our reviews are the most cited in the industry.
• ECN Pro requires a minimum deposit of $5,000, while MultiBank Pro requires a minimum account size of $1,000.
• There is a request form on the Contact Page of MultiBank’s main website.
• MultiBank’s global presence and ideal trading conditions make it one of the most competitive brokers around.
• We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs.
• MultiBank Group maintains 25+ offices worldwide catering to an international client base and partners with affiliates in major financial hubs around the world.

Regulated

Research and education at MultiBank Group brands have a long way to go to catch up to industry leaders, but the broker continues to make progress in other categories. I was happy to see that it has developed its own social copy trading platform, and spreads are competitive on its ECN Account offering. Making its entire range of markets available by default and adding more educational and research content would help to balance MultiBank’s overall offering. Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process).

Mobile Trading Apps

Since then, we have evolved into one of the largest financial derivatives companies worldwide, with a current paid-up capital of over $322 million. Joey Shadeck is a Content Strategist and Research Analyst for ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been limefx reviews an active trader and investor for close to ten years.

Products

ECN Pro requires a minimum deposit of $5,000, while MultiBank Pro requires a minimum account size of $1,000. At ForexBrokers.com, our reviews of online forex brokers limefx forex broker and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here). The Standard account requires just a $50 minimum deposit, but comes with higher relative spreads. In my opinion, MultiBank’s Standard account is best avoided unless you are a complete novice. The Pro account requires a $1,000 minimum deposit but features lower spreads than the Standard account.

For example, if you deposit $1,000 of trading funds to receive a $200 promotional deposit bonus, the volume requirement to redeem the bonus would be 80 standard lots – or 8,000,000 units of currency. When trading at that volume, you can easily end up earning (or losing) far more than the initial deposit bonus amount. The spread you’d end up paying to trade eight million units of currency will end up being greater than the deposit bonus. MultiBank Group offers customers direct access to banks and exchanges through its advanced trading platforms.

Additionally, the customer service offered at this broker is impressive. You can also contact this broker via email, live chat, or video conference, in addition to the dozens of phone numbers offered. There is a request form on the Contact Page of MultiBank’s main website. Educational content at MultiBank is limited to a series of basic videos and ebooks powered by MTE Media, which are available on a new dedicated education section on the broker’s website. I was pleased to see this new educational portal, and I’m looking forward to seeing more content from MultiBank. That said, this broker still has a long way to go if it wants to compete with the best brokers for education.

According to MultiBank Group’s website, the broker is well-capitalized with over $322 million in paid-up capital. MultiBank Group maintains 25+ offices worldwide catering to an international client base and partners with affiliates in major financial hubs around the world. To learn more about using MT4 or MT5 on your mobile device, read our MetaTrader guide or our MetaTrader 5 guide. Use our country selector tool to view available brokers in your country.