MultiBank Group Review
Founded in 2005 and owned by MEX Group Worldwide, MultiBank is an award-winning broker, having received accolades such as the Best MT4 Execution Broker (The Forex Expo Dubai), Best FX Trading Platform (MENA 2020), Best Financial Derivatives Provider in Asia and Europe (Global Brands Magazine, 2020), Best APAC Region Broker (International Financial Awards, 2020), and more. To get more news about
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With MultiBank, you can trade products like Forex, metals, shares, indices, and commodities on a wide range of platforms. There is also a white label partnership program for interested brokers. MultiBank’s global presence and ideal trading conditions make it one of the most competitive brokers around.
There are several features offered at MultiBank that clue you in as to this broker’s target customers. At MultiBank Group, the educational tools are light, so complete novices might find it a little difficult to get going. However, that’s not to say that you need to be a seasoned pro to join this broker.
Features like Social Trading allow traders to “invest smarter.” You can copy the trades of profitable, consistent traders. Social Trading works both ways. Traders who act as Signal Providers can scale their income, earning extra money when investors copy their account and trading moves. Social Trading indicates that this broker works with both sides of the spectrum, experienced and new(ish).
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.
25 Offices Worldwide. MultiBank is one of the world’s largest derivatives companies, boasting paid capital of $322 million. Though founded in California, it has a global presence, with twenty-five offices in major worldwide locations like Hong Kong, Australia, Malaysia, China, the Cayman Islands, and more.
7 Regulating Bodies. MultiBank is a conglomerate, and each of its subsidiaries are heavily regulated by entities like CIMA (Cayman Islands), FSC (BVI), DFSA (UAE), CNMV (Spain), FMA (Austria), BaFin (Germany), and ASIC (Australia). Investors looking for regulation to give them a peace of mind will appreciate the stringent oversight.
Founded in 2005. MultiBank has had sixteen years of longevity in the industry. Founded by Naser Taher and headquartered in Hong Kong, this broker knows the ins and outs of the CFD and Forex sectors. This isn’t a new company; it has a solid reputation that it has built up over the course of nearly two decades.
Tightest Spreads. As you can see from the tables further down in this article, MultiBank offers ideal trading conditions, including tight spreads. The average spreads on the ECN Pro account are 0.0. On MultiBank Pro, they’re 0.8, and on Maximum, the average spreads are 1.4.
Leverage. Another example of the ideal trading conditions with MultiBank is its leverage. The broker offers leverage of up to 500:1.
Your commissions will vary based on the type of account you choose, but the fees are reasonable. For example, you’ll find fees of $3 per lot when you trade Forex. The main accounts at MultiBank include ECN Pro, MultiBank Pro, Maximus, and MT5. Each of these platforms offers something different.
The ECN Pro platform gives you a raw price feed and access to the tightest spreads in the industry. The platform offers 24 hours of instant, stable execution and leverage of up to 500:1. There are forty-five Forex pairs available and five levels of market depth. Lastly, there is no restriction on EA. Spreads start at 0.1 for EUR/USD.
The MultiBank Pro platform has similar features to ECN Pro, and it uses the MetaTrader 4 platform (one of the industry standards for trading). However, compared to ECN, you don’t have to make as high of an investment. ECN Pro requires a minimum deposit of $5,000, while MultiBank Pro requires a minimum account size of $1,000.
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. Spreads start at 1.5 for EUR/USD. As with the other accounts, you can trade on mobile, web, or desktop. With Maximum, there are no restrictions on scalping or EA.
Fourthly, the MT5 account, as you might have guessed from the name, allows you to trade with MetaTrader 5, which is an even more advanced version of MT4. Tradable products include crypto, commodities, shares, indices, metals, and Forex. There is an expert adviser, over eighty technical analytics tools, one-click trading, VPS hosting, and a stop out level of 50%. The MQL5 provides algorithmic trading, too.
MultiBank Group Review
