Historical Perspective and the Formation
MultiBank Group was established in 2005 and has now become one of the largest brokers offering financial derivatives around the globe. Thus, it deserves 15 years in the field, giving it a good standing in reliability and innovation.
Goals and Objectives
The desires mirrored by MultiBank Group are to furnish clients in relation to technologies in the trading room, with clear visibility and making all-inclusive compliance with standards pertinent to supervision. Their desire may also have them create new benchmarks in global trading by being technologically advanced in their approach and superior service delivery.
Location on the Global Scale
The company extends over 90 countries worldwide. It has an established platform in Asia, Europe, the Middle East, and American states. Serving its clients with localized and multilingual support services, the broker serves them with differences.
Advantages and Disadvantages
Strengths
- Good variety of regulatory licenses across all Trust Score tiers
- Pricing within MultiBank’s ECN account is competitive, despite the high minimum deposit requirement ($10,000)
- Offers a proprietary social copy trading platform
- Operates a regulated crypto exchange in Australia, MEX Digital, which offers underlying physical crypto assets for popular cryptocurrencies like Bitcoin
- MEX Atlantic offers indemnity insurance of up to $1,000,000 per customer with Lloyd’s of London and holds a “B” rating with the S&P
- News headlines from Dow Jones Newswire (in MetaTrader)
- MultiBank's recently launched MultiBank-Plus platform, available for web and mobile, features charts powered by TradingView
Weaknesses
- MultiBank’s research options are limited
- Educational materials are minimal – only short-form videos and ebooks are available
- Spreads on the Standard account are higher than the industry average
- MultiBank advertises 14,145 tradeable markets, but only 1042 are available by default in MT5. Access to additional markets must be requested via email
- Regulatory status in the EU is via money management licenses (not full brokerage licenses), and in the UK is limited to appointed representative status
- cTrader was recently discontinued at MultiBank
Security Measures and Regulatory Details
Appropriateness of Permission Types
The company MultiBank Group had all the required top-tier permissions that have come under the supervision of ASIC (Australia), BaFin (Germany), and FCA (UK). This makes them compliant with the international standards defined in financial matters.
Fund Safeguarding and Insurances
They have saved accounts of the client with some of the best designates in banking, and the customers are given $1 million in terms of insurance protection related to the fund for receiving this investment.
Instruments for Trading
Forex Pairs
Offered by this broker is a range of more than 55 foreign exchange pairs, with tight spreads and an option to avail flexible leverage.
Commodities
Gold, silver, major crude oil, and gas are some of the commodities that can be purchased at highly competitive trading conditions.
Indices
In addition, traders will have access to some beneficial global indices such as NASDAQ, DAX, and FTSE for wider possibilities of trading.
Digital Currency
Further, major digital currencies are now traded through Bitcoin, Ethereum, and XRP. These coins often represent a new era of digital assets.
Account Types
Standard
| Minimum deposit | 0 |
|---|---|
| Commission | 1.5 |
| Available tools | 0 |
| Leverage, min | 1:1 |
| Leverage, max | 500:1 |
| Margin call level | 100 |
| Stop-out level | 50 |
Pro
| Minimum deposit | 0 |
|---|---|
| Commission | 0.8 |
| Available tools | 0 |
| Leverage, min | 1:1 |
| Leverage, max | 500:1 |
| Margin call level | 100 |
| Stop-out level | 50 |
ECN
| Minimum deposit | 0 |
|---|---|
| Commission | 0 |
| Available tools | 0 |
| Leverage, min | 1:1 |
| Leverage, max | 500:1 |
| Margin call level | 100 |
| Stop-out level | 50 |
Charges
Spreads and Commissions
This broker provides the best brokerage rates, according to which trading starts at 0.0 pips in Raw Spread accounts; also, no commissions for the Standard accounts.
Interest Rates
Transparency will be observed while employed and Islamic accounts will diminish transaction costs.
Inactivity Fees
An inactivity fee applies to accounts that have remained unused over time.
Trading Platforms
| Available tools | Forex, CFDs on Metals, CFDs on Shares, CFDs on Indices, CFDs on Commodities, CFDs on Cryptocurrencies |
|---|---|
| Cryptocurrencies | BTC, ETH, LTC, DOT |
| CFD | Forex: 40 Metals: 6 Indices: 23 Energy: 5 Cryptocurrency: 11 Stocks: 14037 |
MetaTrader 4 and 5
Support for MT4 and MT5 is provided by the MultiBank Group, and these different interfaces are advanced with charting tools, automated trades, and great customization features.
cTrader
Designed especially for professional traders; the cTrader platform comes with impressive features like Level II pricing and provides order execution means.
Trade Through Mobile Apps
Trade on the go using mobile trading apps for iOS and Android which allow full functionality of the account at the same time.
Customer Support
Getting Started with Registration
Registration is very simple. Just fill in a form online, select the kind of account you wish to open, and start some form of identity verification exercise for purposes of trade.
Verification Criteria
Proof of identity here pertains to sending in either a government-issued ID or valid passport. Proof of residence, on the other hand, can be done through submitting either a utility bill or a bank statement.
Deposits and Withdrawals
Payment Methods
They offer multiple options for making payments like bank draft, debit/credit cards, and e-wallet. The popular ones are Neteller and Skrill.
Processing Times
They very promptly credit customers when they make a deposit. Normally, depending on the type of transfer, it takes two to three business days to arrive.
Associated Fees
Transferring money into trading accounts is often free. However, withdrawing it could cost a little. It is, therefore, necessary to check the broker's fee schedules.
FAQ
Is the broker regulated?
Yes, the MultiBank group is regulated by ASIC, BaFin, and FCA.
Which trading platforms are available?
MetaTrader 4, MetaTrader 5, and cTrader platforms as well as mobile apps.
How much should be deposited to open an account?
The deposit starts at Standard accounts from $50 and depends on the type of account.
Which types of accounts does the broker offer?
Standard, Raw Spread, cTrader, and Islamic accounts are provided by MultiBank Group.
What fees and commissions will I incur?
Spreads, commissions for certain accounts, swap rates, and inactivity fees for dormant accounts.
What is the maximum leverage available?
As determined by account type and regulatory jurisdiction, maximum leverage can be as high as 1:500.
Is there any demo trading account?
Yes, MultiBank Group provides a demo trading account for practice and strategy testing.
How can I contact customer support?
Customer service operates 24/7 for live chat, email, or phone calls. An international team supports customers.