Those afraid to risk real money on trading, will be glad to learn that MultiBank Group do indeed offer a Demo Account. The Demo account comes preloaded with $100,000 in virtual funds, and it provides access to all the above listed platforms and financial products. Mexgroup (MultiBank Group) is definitely not a two-bit operation. It is in fact one of the biggest Forex/CFD brokers out there, squarely claimed to be among the largest providers of financial derivatives in the world. The operation is a truly global one, in the sense that it maintains offices in various countries all over the world. It also peddles its services under an impressive number of regulatory jurisdictions.
There are mainly three account types across global entities for trading CFDs and forex, including Standard, Pro, and ECN. MultiBank customers can also use demo trading to experiment with the platform without real money investments. Overall, the MultiBank Exchange Group review presents a company with a diverse range of established offices and enlarged trading portfolios through numerous countries, regulations, and offerings. In general, a MultiBank Exchange Group broker is a reliable option for almost any trader from mostly anywhere due to their global coverage comprehensive trading proposal, and the great support they offer. The choice between the accounts is suitable for beginning traders or seasoned investors, as well as the competitive trading conditions through the STP processing of orders.
My success can be attributed to their fast execution, diverse trading tools, and excellent trading conditions. Moreover, their trading accounts are customized to cater to all levels of experience and trading preferences. MultiBank Group’s FIX API is a turnkey solution for institutional and high-volume clients looking for direct access to market, providing the best prices and conditions. The API trading toolset is a way for traders to build their own applications and use the APIs offered by Multibank to connect those applications to different data sources. These connections are required to build smarter algorithmic trading applications.
Extortive and cruel exchange rates
MultiBank Group has made an effort to keep fees to a minimum (with the exception of the inactivity fee) and they are better than most brokers in the forex and CFD industry. Professional traders and money managers can trade multiple accounts efficiently, using a single centralized interface with a MAM (Multi-Account-Manager) account. Fix API can be integrated with MT4 and enables high-speed connectivity, ultra-low latency execution and direct access to deep liquidity pools. Deposits are typically processed within 24 hours, although bank wire transfers may take longer due to processing times at the bank’s end.
- Having the regulatory and safety measures in place, MultiBank scores well on our trust score.
- MultiBank has created a range of courses covering all aspects of trading, from getting started to market analysis, trading strategies, and platform tutorials.
- However it now operates in countries across the world, As a result, it theoretically should be regulated by multiple financial bodies.
The minimum deposit requirement is higher than the Standard account, but traders can benefit from more advanced features such as access to the MultiBank Pro platform, VPS services, and a dedicated account manager. MultiBank Group is a global financial service provider with its headquarters located in Hong Kong. MultiBank Group claims to have a strong presence in the Asia-Pacific region, with offices in China, the Philippines, and Malaysia, among others. The broker also emphasizes its commitment to providing clients with competitive pricing, advanced trading tools, and a high level of customer support. The company’s core business lies in its advanced trading platforms, which can trade a wide range of financial products such as Forex, shares, metals, commodities as well as indices CFDs.
Most brokers will offer an average spread of 1 pip (EUR/USD) and a minimum deposit of 100 USD or less on their entry-level accounts. The minimum transaction level is at 0.01 lots, Stop Out levels are at 50%, and trading is available on over 55 FX pairs. MultiBank Group is a serious, trustworthy and massive operation indeed, offering solid trading platforms, great trading conditions (for the most part) and a superb regulatory profile. Customer feedback regarding the services offered by the brokerage is positive as well. In addition to the wide range of markets available to trade, the MultiBank FX trading platform provides traders with a multilingual interface, instant execution.
To anyone searching for a reliable trading platform, I would suggest Multibankfx. One major drawback for beginner traders considering MultiBank is its lack of educational and market analysis materials and time-limited demo account. There is no educational content available on the MultiBank platform.
Usability – An extensive range of trading possibilities
Those who opt for this setup, will only be able to choose the Turbo Meta platform though. The EAs (Expert Advisors) are essentially the auto-traders of MT4. MultiBank Group do not enact any limitations on the use of these EAs. To be able to use EAs to their full potential, traders will need a solid VPS (Virtual Private Server) service as well, and Mexgroup excel in this regard too. No commissions are charged on withdrawals, and trader withdrawals are processed within 24 hours. Opening an account with Multibank will take no more than 5 minutes, you need to go to their website and fill out the registration form.
Multibank offers a powerful auto-execution system that duplicates the trades of other successful traders. Expert Advisors (EAs) can be integrated into any MultiBank Group MetaTrader 4 & 5 platforms without restrictions to perform automated trades and place orders at any time. EA can monitor everything from indicators, support, and resistance levels to multiple timeframes and, in turn, maximize your gains. Another important cost to consider is the swap rate charged on positions held overnight. Interest is paid (or received) for each night a position is held. When trading a currency, you are borrowing one currency to purchase another.
Their customer service team responds promptly to all inquiries and assists clients with any questions or concerns. Overall, Multibank offers trading on a much larger range of financial assets than other similar brokers. Overall, Multibank offers a range of useful trading tools but doesn’t offer the technical and fundamental analysis tools available at other brokers.
Is the quality of customer service satisfactory?
MultiBank has first-class customer support with friendly and responsive agents ready to assist their clients 24×7 via live chat, email support ([email protected]), phone support, or WhatsApp. Navigate to the Support page to choose a convenient method, or use the sidebar to get direct access to the customer support options. When it comes to the security of clients, MultiBank does not leave any stone unturned. To provide the utmost security of client funds, all MEX clients are covered with an insurance policy under Lloyd’s of London that protects and guarantees funds up to $1 million per trading account. Additionally, other insurance policies ensure the highest degrees of security of client information and funds.
If you want to trade forex please look for other brokers, avoid multibank. Withdrawals have been quick, trading has never been effected by mysterious events as it has with other brokers and customer service multibank review is fairly perfect. Definitely, the mobile app is also included in the package, while each platform features its own app with simple to use and packed with a wide range of tools at the same time.
In this section we’ll take a look at how the different entities of MultiBank Group across the globe are regulated and how this impacts you as a trader. We rate regulators on a scale of 1 to 3, with 1 reflecting the highest level of trust. One important aspect of trading that all traders must consider is the cost involved in executing trades, and obviously, MultiBank Group understands this. Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights, in the MultiBank Group Pro and ECN accounts.
Beginners often do not want to risk trading large sums of money, and will generally not be able to trade full-time during the workweek. The trading platforms of the brokerage sort of act like account-types too. They impact price making, spreads and a number of other perks users are offered. MT4 – like many other Forex brokers, MultiBank FX offers MetaTrader4 platform to its customers. The MetaTrader 4 is an independent trading platform, developed for trading FX, commodities and other products and is one of the most advanced and easy platforms to use. Under the Prime of Primes program, trading platforms at MultiBank FX allow affiliates direct access to leading liquidity providers.
- However, this should not be a deal breaker for anyone as there is plenty of good free educational material available widely on the internet, MultiBank also offers newsletters weekly.
- In overall, the broker is regulated with 11 regulatory authorities worldwide, which makes them a trustworthy broker to trade with.
- I am scary of everything new in my life but their plat from it is very good.
Social traders also have access to the broadest market exposure, granting signal providers the diversity they need to stand out from the crowd, an invaluable asset. Generally, the platforms are all built on MT4 software and diverse by the account type, which includes offers tailored to the account pricing and solutions. Yet, the MT5 platform offers all of the various features provided by the MT4 with additional editions, like improved trading functionalities and enhanced scripting tools for custom indicators and expert advisors. Based on our expert finds, MultiBank is a good broker that can be trusted with some of the best trading conditions for the DMA environment in the Forex and CFD markets.
MultiBank Pro Account is designed mainly for traders with experience and bigger size, since requires a 1,000$ initial deposit it also brings lower costs typically 0.5 pips. While Multibank Group may offer comparatively few pairs compared to some of the more dedicated crypto trading platforms, this is still an excellent platform in many ways. This is thanks to the general trading conditions and the overall track record and reputation of Multibank Group as a company.
MultiBank uses segregated client accounts to give the ultimate investment safety. It also ensures that all capital and funds are stored in tier 1 banks to provide the required peace of mind while trading. The social trading feature at MultiBank allows traders to invest smartly. Social trading, also known as copy trading, allows traders to copy the trading strategy of a profitable, consistent, and active trader. The experienced trader may act as signal providers and earn additional income when any trader copies their trading moves and account at MultiBank.
However, this should not be a deal breaker for anyone as there is plenty of good free educational material available widely on the internet, MultiBank also offers newsletters weekly. Two unique features I want to note are free VPS hosting and FIX API trading. The former supports algorithmic trading, which accounts for 80% of all trades at this broker. The latter allows for the connection of advanced trading solutions to the competitive MultiBank Group trading environment.
The platform also charges an inactivity fee of $60 for every inactive month after 90 days. This inactivity fee is quite high compared to the market average. Apart from these non-trading fees, the MultiBank Group makes an excellent platform than other brokers since the trading costs have been kept minimal.
Expert Advisors (EAs) are integrated into the MultiBank MT4 and MT5 platforms without any restriction to perform automated forex trades and orders. Expert Advisors monitor everything from support and resistance levels and indicators to multiple timeframes to maximize gains. With the help of the sophisticated trading environment offered by MultiBank, the Expert Advisors software detects the best trading patterns. It executes trades based on the instructions given by the traders.
As with desktop and web, the interface is not the most intuitive but the MT4 app offers an above average range of features. It’s important to note that while leverage can magnify potential profits, it also amplifies potential losses. https://traderoom.info/ Traders should carefully consider their risk tolerance and use leverage responsibly. MultiBank Group also offers negative balance protection to help prevent traders from incurring losses greater than their account balance.
How big is MultiBank?
The Group offers traders over 20,000 financial products. With a paid-up capital of US$322+ million, a client base of over 1 million from 90 countries, and a daily trading volume of US$12.1+ billion in 2021, MultiBank Group is considered one of the largest financial derivatives provider worldwide.
One key benefit that allows MultiBank Group to stand out from the competition is that its customer service is available any time or day of the week. You can contact a customer service representative at your convenience internationally 24/7. Rapid customer service response helps smooth the trading process for both new and expert traders.
Multibank Group is a very broad trading site that’s designed to cater to a wide range of traders – both in terms of trading interests, location, and experience level. Despite having a lot of information to display, the overall layout of the website is intelligent and very simple to navigate and follow. In order to claim this bonus, you will have to select the standard or pro platform when creating your Multibank Group account – as ECN isn’t compatible with the offer. You then simply have to make your first deposit using one of the available banking methods and then start boosting your trades. The withdrawable portion of your bonus will increase, the more lots you trade – with the entire bonus amount becoming withdrawable eventually. Accounts can be funded using instant payments such as credit or debit cards, cryptocurrencies and different Payment Gateways depending on the client’s country of residence.
Is MultiBank Group legit?
Yes, MultiBank Group is regulated across its various global entities. 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).