MultiBank Group Review 2023 – Is It a Good or Bad Broker?

 

Introduction to MultiBankfx.com Review

It is hard to find safe and legal brokers, nowadays, but luckily, we have come across one of the best brokerages in the world. This MultiBank Group review will focus on all aspects of this brand. We found a lot of pros and cons thanks to their extremely informative website.

MultiBank Broker represents a huge CFD and FX Broker. They possess a diverse global audience, with over 25 offices worldwide. Initially established in California, the USA in 2005 now MultiBank Group has at least one office on every continent in the world.

MultiBank Services over 320,000 customers from over 90 countries. All their branches face heavy regulations, promoting only safe and legal trading.

Who is MultiBank Group?

MultiBank Group broker became one of the first companies to start electronic and online Forex and Financial Derivatives trading. In fact, they offered full transparency from the start. The company was established by Naser Taher, with unmatched experience in the financial industry.

MultiBank Fx broker aims to provide exceptional products and services to their clients, they promise to continue investing heavily in technology and regulations that benefit their customers and improve the Forex Industry as a whole. It comes as no surprise that the MultiBank Group became so successful with such strong leadership.

The company reported a notional turnover of $2.4 trillion in financial derivatives during the year 2020 and is expecting to make significant moves into the institutional markets through top-tier bank liquidity and white label solutions for banks, brokers, funds, and trading desks. Now let’s get all the additional information about the multibankfx.com review, shall we?

 

MultiBank Group review of Assets

The company boasts its advanced technology and trading platforms. For example, the broker is one of the few to offer automated trading. MultiBank Group assets range from financial products like forex, indices, metals, shares, commodities, and cryptocurrencies.

MultiBank Group offers the lowest spreads we have come across starting with 0.0 pip spreads. Naturally, you should always look before you trade, as we’ve found some with 0.8 pips and 1.5 pips as well. Neither of the two are severe bit it could lead reckless traders to unexpected costs. Tight spreads offer stability and reliability to the trader. Therefore, the leverage can go up to 500:1.

Thus, allowing traders to take high risks for high returns. With under 20 millisecond execution, you will get access to over 55 currency pairs, metals, and all major assets with MultiBank Group.

 

MultiBank Group Regulations

This section tends to be the shortest in this industry, but in this MultiBank Group review, we have a rare broker with a LIST of financial regulators. Not many brokers invest a lot into regulations.

Meanwhile, the MultiBank Group is regulated by seven major financial regulators worldwide. The regulator list is really impressive and it includes, financial watchdogs like ASIC, BAFIN, CIMA, FMA, TFG, MAS, AUSTRAC, BVI, VFSC. Their different branches also have corresponding regulators watching over them. As a result, we have never trusted a broker more.

What does their website list?

Their website lists their license links and PDFs in plain sight. We double-checked all of them, and MultiBank Group passed with flying colors. Below we will list the branches and the regulators, respectively.

 

• MEX Australia Pty Ltd (MEX Exchange) is regulated by ASIC, which is the Australian Securities & Investments Commission.

In fact, MEX Asset Management GmbH is regulated and authorized by the German Federal Financial Supervisory Authority, or BaFin.

• MEX Asset Management GmbH in Austria is a small branch of the German asset management company, which is also regulated by FMA, the Financial Market Authority.

Moreover, MEX Spain is the Spanish branch in Barcelona, regulated by CNMV, the National Securities Market Commission.

• Last, but not least is MEX Wealth Management (Dormant) is a subsidiary located in the Cayman Islands, regulated, and authorized by the Cayman Islands Monetary Authority, also known as a CIMA.

With such an extensive list of regulators, we are confident that MultiBank Group is a trusty broker. Rather than providing one general regulator, they made sure to work with all relevant authorities to keep their customers’ funds safe. Moreover, they take depositing funds very seriously as well. No wonder MultiBank Group has such a large customer base.

What Kind of Accounts does MultiBank Group offer?

MultiBank Group used to offer four distinct account types: STANDARD, PRO, ECN, and MEX SPORTS. The main difference between the three is the pricing and the minimum deposit.

MultiBank Group Account Types

Standard Account

• Trading platforms:MT4 and MT5
• Minimum initial deposit: $50
• Spreads: From 1.5 pips
• Leverage: Up to 500:1
• Social Trading
• 24/7 technical and account support
• Multilingual customer service

PRO Account

• Trading Platforms: MT4 and MT5
• Minimum initial deposit: $1,000
• Spreads: From 0.8 pips
• Leverage: Up to 500:1
• Social Trading
• 24/7 technical and account support
• Multilingual customer service

ECN Account

• Trading Platforms: MT4 and MT5
• Minimum initial deposit: $5,000
• Spreads: From 0.0 pips
• Leverage: Up to 500:1
• Social Trading
• 24/7 technical and account support
• Multilingual customer service

Islamic Account

Islamic account is also available, with the following conditions: no interest/ swap charges on overnight positions and no limits on the duration of positions held.

Beginners can easily join with a minuscule minimum deposit but beware of the wide spreads. Keep in mind, there are possibilities to lose money when trading. Therefore, this might make trading a little riskier for an inexperienced investor.

Additionally, keep in mind that you should trade regularly to avoid inactivity fees.

Moreover, registration is easy and fast. MultiBank Group has an exceptionally large international customer base, so obviously they also offer an Islamic account. All accounts offer negative balance protection.

Trading accounts comparation

With a quick look at the trading accounts, it is easy to tell which account is designated for which trader. The most experienced trader would opt for ECN Pro account, with tight spreads and commission. In fact, the minimum deposit for this type of account is fair and makes sense.

So, MultiBank Group Pro would be the perfect match for an advanced trader. The minimum deposit is low enough to make losses more acceptable.

Currently, there is only one live account type that serves as universal for all traders. The account requires a deposit of only $50 and offers 1:500 leverage. Additionally, MultiBank Group offers a Demo account if you want to test-run any of their platforms prior to making a monetary commitment.

Our MultiBank Group Review of Assets left us satisfied with the options and range of deposits. It is obvious that MultiBank Group welcomes traders with all levels of experience.

Opening an Account with MultiBank Group

MultiBank Group account opening is simple and seamless. In fact, you can fill out all forms, scan, and submit your documents within 20 minutes. The whole process is digital. There are three simple steps for account opening with MultiBank Group.

1. Select the regulator you wish to work with
2. Add all personal information, such as emails, country, etc.
3. Verify your identity and residency

So, the process is simple and matches every other broker. Make sure to pick the regulator you are most comfortable with or you are required to pick due to your address. You can submit your government-issued ID, Driver’s License, and passport as proof of identity.

For your residency proof, you can submit an official document that states your name and address, like bank statements, utility bills, etc.

MultiBank Group Review: Deposits and Withdrawals

MultiBank Group offers 8 base currencies for withdrawals and deposits. Moreover, you can pick USD, GBP, EUR, JPY, CHF, AUD, NZD, CAD as your preferred base currency. By default, the account starts with a USD setting.

Furthermore, if you do not select your base currency when registering, by contacting their customer service, you can change your base currency with ease. The best part of their account offers is that you can have more sub-accounts and select different base currencies for each sub-account.

Depositing at MultiBank Group is easy and free of charge. In fact, you can do a wire transfer, use debit or credit cards, or use any of the electronic wallets listed below:

•      Skrill
•      Neteller
•      PayTrust
•      PerfectMoney
•      Help2Pay
•      Ngang Luong
•      Payment Asia
•      Swift
•      Nab
•      Crypto

MultiBank Group offers a variety of deposit and withdrawal options.

MultiBank Group Bonuses

Here are the available bonuses that we will cover in this multibankfx.com review:

20% Deposit Bonus

• Step 1: Open an Account: Choose a platform, sign up, and get a 20% deposit bonus.

Platforms: MULTIBANK PRO, MT4, MAXIMUS, MT4 – MT5

• Step 2: Fund Your Account: Deposit funds and receive a 20% tradable and withdrawable bonus.
• Step 3: Trade and Earn: Use the bonus to open higher volume positions and boost your profits. Example Calculation: Deposit: $1,000, Bonus: $200, Lots to Trade = $200 / $2.5 = 80 Lots
• Step 4: Withdraw Your Bonus: Withdrawable portion of the bonus increases with lots traded.

Cashback Program: Trade more, earn more

• Step 1: Open Account with MultiBank Group

Choose and trade on your preferred platform for instant execution and competitive prices. Account Options: BONUS ECN, ECN PRO, PRO Maximus, Standard

Account Benefits: 20% Bonus, Cashback Program

Step 2: Fund Your Account – Deposit funds securely via debit/credit cards, bank transfers, e-wallets, or cryptocurrencies. Payment Methods: Debit/Credit Card, Bank Transfer, E-wallets (NAB, Neteller, Skrill), Visa, Mastercard

• Step 3: Boost Trades: Maximize gains by trading higher-volume positions using bonus funds. Example Calculation:
• Deposit: $1,000
• Bonus: $200
• Lots to Trade = $200 / $2.5 = 80 Lots
• Withdraw Bonus Funds
• Withdrawable portion of bonus increases with lots traded.

Trading Conditions at MultiBank Group

MultiBank Group wants to offer the safest conditions to its traders. Their first initiative is the stop-out level, where trading platforms are set to automatically close open options when the stop-out level is reached. Some conditions apply to different equity levels of accounts.

Their maximum lots per click and maximum open positions are restricted by the market depth and for risk control. See the image below.

The pending orders must be calculated by the client to maintain the required real-time margin for the execution. Moreover, the pending order will be automatically canceled if the margin level is not enough for the transaction.

Hedged positions function is available on the MultiBank Group’s MT4 platform. Avoid risk by not holding more than one hedged position at the same time. When the spread widens in particular market situations, hedged positions can affect the account equity.

Our MultiBank Group review of their trading conditions left us confident that the broker can only offer the best and safest options to their traders. Especially compared to other CFD brokers, MultiBank Group stands out. Consequently, the conditions presented satisfied us.

 

Platforms Offered at MultiBank Group

MultiBank Group offers the best and most popular trading platforms to its traders. They offer trading on:

• MetaTrader 4

MetaTrader 4 (MT4) is the world’s most popular trading software, known for its great features and extensive functionality. The MT4 app, available for desktop and mobile, along with other mobile trading apps and trading tools, and is highly regarded by millions of traders and brokers worldwide, as it consistently meets and exceeds their demands.

With the MT4 app, traders can effectively analyze financial markets, execute advanced trading operations, and even copy deals from other traders, among many other capabilities.

• MetaTrader 5

The MetaTrader 5 (MT5) trading platform is designed to meet the evolving needs of brokers and traders, offering advanced features and enhanced scripting tools for custom indicators and expert advisors (EA).

MultiBank Group has optimized the MT5 platform to provide traders with a seamless trading experience, ensuring price slippage-free execution and flexible leverage of up to 500:1. With the MT5 platform, traders have the freedom to access external analytical resources, enabling them to make informed trading decisions and maximize their potential in the financial markets.

• Mutlibank trader 4

The MULTIBANK Trader 4, renowned as the traditional edition of the world’s most widely used trading software, has garnered the favor of millions of traders thanks to its exceptional attributes.

With the remarkable MULTIBANK Trader mobile app, traders and brokers worldwide consistently witness the surpassing of their expectations, making it their platform of choice. This application offers a wealth of functionality and an array of features, making it a preferred option for millions of traders.

• Multibank trader 5

It has achieved excellence in providing a seamless MT5 platform, ensuring top-notch trading execution quality and user-friendliness. When you download and trade on MULTIBANK Trader 5, you can enjoy a trading experience free from price slippage, requotes, and rejections.

Furthermore, MultiBank Group takes your MULTIBANK Trader 5 experience to new heights by offering flexible leverage of up to 500:1. One of the primary advantages of the MULTIBANK Trader 5 App is that traders are not confined to utilizing only the built-in analytical resources.

You also have an option of social trading. Moreover, their download center provides all the software, one click away from trading. There are also webtrader MT4, webtrader MT5, along with Social Trading options available on the official multibankfx.com website!

Mobile Trading platforms

You can choose to trade via a mobile app on iOS, Android, and Google Play. You can trade via Desktop on your Microsoft account (windows), as well as web trading on Chrome, Firefox, Microsoft Edge, and Safari.

In fact, their social trading platform is easy to use and sign up for. You simply need to open a master account, share your success in trading with the public, and gain subscribers who will copy your trades and movements.

What MultiBank Group provides to its users?

MultiBank Group will give you a chance to become a huge influence on their platform by gaining followers and copycats. So, it is a great option for all trades. It is professional, fast, profitable, and best of all – automatic.

Furthermore, the broker offers highly inclusive platforms, allowing all traders to choose what they are most comfortable with. In fact, some of the platforms even offer special bonuses, which you can view above.

Customer Service Review for MultiBank Group

MultiBank Group offers a shocking number of options to get in touch with its customer service. They provide help in many languages for your comfort and have specific numbers for different countries, so you do not have to wait in long lines on your phone.

You can also contact MultiBank Group via live chat and email. Their chat works well. In fact, it responds quickly and answers all your questions. Furthermore, their email support is shockingly fast, with personalized responses sent out within one day.

Their support is always available to help you with any questions or issues you might be facing. Thus, we are incredibly happy to see such supportive brokers like MultiBank Group.

Currently, customers can reach MultiBank via phone in over 30 countries

MultiBank Group Review Conclusion – We Vouch For This Broker

From all our intensive research about MultiBank Group, we have nothing else to say but that they are one of the best we have come across. They offer a wide range of options for all types of traders.

In fact, their website is easy to navigate. Broker reviews can be hard to complete, but MultiBank Group makes it easy to see all their licensing and documentation to all users, whether registered or not. You can find all information you might require on their site. Easily accessible and transparent – we love it.

MultiBank Group puts their clients’ safety above all else, proving a large list of regulators from all around the world. If this is not your first hint to trust them, you can personally get in touch with them and you will see how professional they are.

So, make sure you get to know any restrictions they might have for your location. Other than that – happy trading with one of the most successful Forex brokers you can find nowadays! For additional information you can always visit the multibankfx.com review!