MultiBank Group is regulated across five continents by over 16 of the most esteemed financial regulatory bodies worldwide. We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points.
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. An experienced media professional, John has a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets.
Pros and Cons
This innovative service enables limefx clients in the UAE to conveniently deposit and withdraw funds through Al Ansari Exchange’s extensive branch network. 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. Overall, MultiBank is a solid choice for anyone who wants a broker with longevity in the industry, multiple account options, and VPS hosting.
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. On the negative side, the broker’s market research offering is unimpressive and educational content is minimal although shows signs of progress; MultiBank’s poor performance in these important categories drags down its Overall rating.
Bank Muscat celebrates Omani Youth Day with Shababi customers
You expressly agree that your use of the information within this article is at your sole risk. MultiBank Group’s best feature is its relatively high Trust Score; the broker holds multiple regulatory licenses, including Tier-1 licenses in Singapore and Australia. Also worth noting is its license to operate as a cryptocurrency exchange. Educational content at MultiBank is limited to a series of basic videos and ebooks powered by MTE Media, which are available on a new dedicated education section on the broker’s website. I was pleased to see this new educational portal, and I’m looking forward to seeing more content from MultiBank. That said, this broker still has a long way to go if it wants to compete with the best brokers for education.
MultiBank Group pros & cons
- MultiBank Group is regulated across five continents by over 16 of the most esteemed financial regulatory bodies worldwide.
- There is a high data rate exchange between the main and remote servers, so the VPS is fast and smooth.
- The main accounts at MultiBank include ECN Pro, MultiBank Pro, Maximus, and MT5.
- The VPS is compatible with all operating systems, and you don’t have to install the MetaTrader 4 terminal to get it to work.
- Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry.
The lowest spreads available at MultiBank are featured on its ECN account offering, which requires a $10,000 minimum deposit and charges a limefx scammers 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.
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 Standard account requires just a $50 minimum deposit, but comes with higher relative spreads. In my opinion, MultiBank’s Standard account is best avoided unless you are a complete novice. The Pro account requires a $1,000 minimum deposit but features lower spreads than the Standard account.
The broker clearly has a lot of longevity in the industry, as well as a solid reputation. An ECN account is best-suited for traders looking for raw spreads and instant execution. Since then, we have evolved into one of the largest financial derivatives companies worldwide, with a current paid-up capital of over $322 million. Joey Shadeck is a Content Strategist and Research Analyst for ForexBrokers.com.
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. 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. Keep in mind that the minimum deposit requirement might vary depending on your country of residence and the MultiBank Group entity that holds your account. 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.