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MultiBank Group Review

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Brokers Analysis, Marketing Automation

Content & Marketing Operations Associate | Investing.com

BA & Honors in Public Diplomacy & Affairs, The Raphael Recanati International School Reichman University | DPIJI, Daniel Pearl International Journalism Institute | HarvardX

4.0

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. 

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.

MultiBank Group has 80,000 clients and places millions of trades per year. Its total trade volume is 1.87 trillion and counting, and it has become a sponsor for companies like BMW. The broker clearly has a lot of longevity in the industry, as well as a solid reputation.

Pros and Cons

Pros

  • Fast and Easy to Open an Account
  • Fast Customer Service
  • MetaTrader Available
  • Longevity in the Industry
  • Over 45 FX Pairs

Cons

  • Educational Tools Are Basic
  • Limited Product Coverage
  • High Inactivity and CFD Fees

Recommended For

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.

Top Features

  • 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.

Overview

  • Type of Broker ECN
  • Regulation & Licensing ASIC/FSC (Europe), Australian Securities and Investments Commission (Australia), Dubai Financial Services Authority (United Arab Emirates), Financial Services Commission (FSC) – Cayman Islands Monetary Authority (CIMA)
  • Clients Accepted from Non-USA
  • Assets Offered Foreign Exchange (FX), Commodities, Indices, Shares/Stocks, Futures/Forwards, CFDs, Cryptocurrency
  • Platforms Available Web, Mobile, Download
  • Mobile Compatibility Android, iOS
  • Payment Types Accepted Credit/Debit Card, Bank Wire Transfer, Skrill, Union Pay, Neteller

Compliance & Regulation

As aforementioned, MultiBank is regulated by the Cayman Islands Monetary Authority (CIMA), the British Virgin Islands Financial Services Commission (FSC), the Dubai Financial Services Authority (DFSA) in the UAE, the Comision Nacional del Mercado de Valories in Spain (CNMV), the Financial Market Authority of Austria (FMA), the Federal Financial Supervisory Authority (BaFin) in Germany, and ASIC, which is the Australian Securities and Investments Commission.

Pricing

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.

Reliability & Security

MultiBank’s reliability is evidenced by its sixteen years in the industry and regulation. Another reliable aspect of MultiBan is its smooth, glitch-free VPS hosting, which has no latency. The VPS (Virtual Private Servers) is offered for free to all MultiBank customers. MultiBank ensures customers that the vendors are “reliable third-party host[s].”

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.

User Experience

Platforms like MetaTrader 4 and MetaTrader 5 have become industry standards for a positive user experience, so that bodes well for MultiBank. Additionally, the customer service offered at this broker is impressive. You have access to 24/5, multi-lingual customer support. You can also contact this broker via email, live chat, or video conference, in addition to the dozens of phone numbers offered. Note that the video chat is by request only. There is a request form on the Contact Page of MultiBank’s main website.

Final Thoughts

Overall, MultiBank is a solid choice for anyone who wants a broker with longevity in the industry, multiple account options, and VPS hosting. MultiBank has over twenty-five global locations, and it is one of the largest, most-regulated derivatives companies in the world. Though this broker is not cut out for total newbies, traders of most other experience levels will find MultiBank to be top-notch.

Contact Info

laptop Email: cs@multibankfx.com
call Telephone: 800 MultiBank (685842265)
location_on Company Address:
11 Floor, Lee & Man Commercial Centre, 169 Electric Road, North Point, Hong Kong

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