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. MultiBank Group maintains 25+ offices worldwide catering to an international client base and partners with affiliates in major financial hubs around the world. An MIP account is best suited for traders looking for raw spreads and instant execution. 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).
Other Trading Platforms
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. We have a long history of delivering exceptional and profitable trading experiences by providing unique trading accounts, instant execution, cutting-edge platforms, and the tightest pricing and liquidity. An experienced media professional, John has a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets.
Account Types
The same funding options available for deposits can be used to withdraw funds at MultiBank. Though processes may vary depending on the MultiBank Group entity that holds your account, withdrawals typically require a withdrawal request form. ForexBrokers.com has been reviewing online forex brokers for over eight years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. The Qatar Financial Expo is a prestigious global event that gathers leading institutions and industry experts to showcase innovations in the financial services sector.
The Largest & Most Regulated Financial Derivatives Broker worldwide
A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA). To set up a live account at MultiBank Group, you’ll need to submit the same personal information that is required by every regulated forex broker for Know-Your-Customer (KYC) and Anti-Money Laundering (AML) compliance purposes. You’ll also need to specify some trading account settings, answer suitability questions, and provide proof of identity (such as a Passport or other Government-issued ID) along with proof of address.
- Joey Shadeck is a Content Strategist and Research Analyst for ForexBrokers.com.
- Social Trading indicates that this broker works with both sides of the spectrum, experienced and new(ish).
- The spread you’d end up paying to trade eight million units of currency will end up being greater than the deposit bonus.
- There is a high data rate exchange between the main and remote servers, so the VPS is fast and smooth.
Commissions & Fees
And while we don’t review forex broker bonus offerings, it’s worth noting that the bonus offer by MultiBank is only available on its Pro and Standard accounts, and not on its ECN account (which has lower spreads). MultiBank Group offers both the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms developed by MetaQuotes Software Corp, in addition to its recently launched proprietary MultiBank-Plus mobile app, available for iOS and Android devices. Though there’s room for the overall experience to improve (it wouldn’t https://worldtradex.pro/ hurt to include additional resources for traders who are opening an account for the first time), I found MultiBank’s client portal generally comparable to industry standards. Since its establishment in 2005, MultiBank Group has expanded to serve over 2 million clients across 100 countries, with a daily trading volume exceeding $25.6 billion. With a presence in key global hubs and a portfolio of more than 70 industry awards, the Group continues to solidify its position as a trusted leader in derivatives.
When trading at that volume, you can easily end up earning (or losing) far more than the initial deposit bonus amount. The spread you’d end up paying to trade eight million units of currency will end up being greater than the deposit bonus. MultiBank Group does not rank highly in this category, due to the lack of any significant in-house or third-party research content.
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. Joey Shadeck is a Content Strategist and Research Analyst for ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content. All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor.
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). There are several features offered at MultiBank that clue you in as to this broker’s target customers.
MEX Atlantic has taken out an insurance policy with Lloyd’s of London, the world’s leading insurance market, that protects clients’ funds for up to USD$1 million per account. A commission-free account that is perfect for new traders looking to start investing.Standard accounts offer instant execution, stable spreads. Yes, deposit bonuses offered by MultiBank Group are legit, but that doesn’t necessarily mean you’ll be able to redeem them. Such bonuses come with steep volume requirements that must be met before redemption is allowed, and it’s possible for your losses to far offset the amount promised by the bonus. Always read the fine print, and make sure that you fully understand the terms and conditions of any promotional offerings – especially in the case of forex deposit bonuses. Your commissions will vary based on the type of account you choose, but the fees are reasonable.
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%. MultiBank Group offers https://worldtradex.club/ customers direct access to banks and exchanges through its advanced trading platforms. Our partners have grown along with MultiBank Group in the past two decades, and our latest entity, MEX Atlantic, is taking our success a step further by offering unparalleled security to our traders.
The Pro account is suitable for traders looking to take advantage of zero commissions, tight spreads, and instant execution. Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry.
Read our full explanation and accounting of our research and testing process to learn more about how we test. Trade over 55 major, cross, and exotic Forex pairs, and benefit from the tightest spreads in the industry. MultiBank Group was founded in 2005 and today employs over 600 staff globally. According to MultiBank Group’s website, the broker is well-capitalized with over $322 million in paid-up capital. The ‘Best Mobile FX Trading App’ award further reinforces the firm’s reputation as an innovator in the fintech space, driving the future of mobile solutions with excellence and integrity. Join MultiBank Group’s network of over 30,000 Introducing Brokers and enjoy the highest levels of personalized customer care.
The Pro account requires a $1,000 minimum deposit but features lower spreads than the Standard account. The lowest spreads available at MultiBank are featured on its ECN account offering, which requires a $10,000 minimum deposit and charges a small round-trip commission of $3 per trade. MultiBank Group, in operation since 2005, is home to numerous global brands and is regulated in jurisdictions all over the world. A multi-asset broker, MultiBank offers forex and CFDs through the MetaTrader platform suite (though not all markets are readily available) as well as underlying crypto assets via its regulated crypto exchange.
He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content. At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here). The minimum deposit requirement for opening a Standard Account at MultiBank Group is $50, whereas the Pro account requires $1,000, and you’ll need to deposit $10,000 to get started with the broker’s ECN account.