Both platforms are free to use, all can be downloaded to your PC and all have web versions of the platform. They are also available on mobile Android and iOS devices (for more on Multibank’s mobile platforms, click here). It was sometimes a little slow (I assume that she was having to help several people at once), but she helped me navigate my way and create my account and I am grateful. (I’m happy to help anyone who needs help setting up and running EAs). I got the right answers on the things I need to know especially in depositing and withdrawing funds. Traders select the amount and desired payment processor, and MultiBank Group processes requests instantly.
Support of multibank is realy good
Since inception, MultiBank has been recognized on numerous occasions for its brokerage services by industry experts and reputable organizations. They have won plenty of awards which I feel is a testament to the quality of the services that they provide. The broker impressed me with the wide variety of tools and services it offers its clients, including VPS hosting, FIX API, and Trading Central.
Trading Instruments and Products
Moreover, the commitment to regulatory compliance and reasonable pricing adds to its popularity. Furthermore, MultiBank’s website features a swap rate table for traders to view costs. Additionally, it offers swap-free Islamic accounts, aligning trading operations with religious beliefs. MultiBank Group offers commission-free trading for all account types. ECN account holders pay $3 per lot transacted, ensuring transparent pricing and allowing traders to make informed decisions without hidden fees.
Support is too good
We’re delighted to hear that you found our support available round-the-clock and that Chloe assisted you promptly and courteously. If you have any further questions or need assistance, please don’t hesitate to reach out. We’re here to help you succeed in your trading journey with Multibank Group.
Some regulators mandate compliance with the strictest financial frameworks, whereas others are less rigid. That is why traders must familiarize themselves with the safety mechanisms ensured by the entity they want to open an account. Joey Shadeck is the 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.
- The VPS lets customers run terminals 24/7, experiencing “stable, reliable” trade conditions that let them trade remotely from anywhere.
- They start giving you wrong info to trade that will result your investment goes to negative and you will end up lose all money.
- Positively surprised on variety of products offered as well as the new MultibankPlus App that is certainly geared towards newer generation of traders with very modern look and feel.
MultiBank, founded in 2005, is a well-regulated broker authorized by ASIC, MiFID, and the FCA. It maintains a solid reputation in the forex and CFD trading industry, although has room for improvement in areas like market research and education. The broker offers a wide range of tradeable symbols and supports popular trading platforms like MetaTrader 4 and MetaTrader 5. She has a medical degree with a focus on physiotherapy and a bachelor’s in psychology. However, her interest in forex trading and her love for writing led her to switch careers.
If you discover that you cannot open an account with the broker for whatever reason, please feel free to browse our broker ratings for an alternative option. 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. As with https://traderoom.info/multibank-overview/ the other accounts, you can trade on mobile, web, or desktop. When we test a broker’s customer support, we evaluate the agent’s knowledge of their own website, how long it takes them to respond to questions, and how detailed their answers are. Multibank stands out with its impressive range of more than 20,000 tradable instruments.
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, in operation since 2005, is home to numerous global brands and is regulated in jurisdictions all over the world. Overall, Multibank offers a range of useful trading tools but doesn’t offer the technical and fundamental analysis tools available at other brokers. As the name implies, this account is an ECN type with no dealing desk intervention. Some of the most overlooked trading costs are the non-trading fees that are charged by brokers.
John Bringans is the Senior Editor of BrokerNotes.co and ForexBrokers.com. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. 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. We’ve researched the MetaTrader offerings of 60+ forex brokers and found that 79% of brokers offer the more famous version of MetaTrader, MT4, while only 64% offer the newest version, MT5.
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. Thought I’d make a smart move investing my inheritance with multi bank, but it turned into a nightmare. Everything looked good at first, but when I tried to pull out some money, things got weird.
The minimum deposit for the MultiBank Group Standard account is $50 or a currency equivalent. I strongly recommend the ECN account despite its high deposit requirement. Traders will get the most benefits from it due to excellent trading costs. Opening an account at MultiBank Group takes only a few seconds and requires a name, e-mail, and valid mobile phone number.
Multibank Group has invested in developing its proprietary all-in-one Multibank-Plus platform with a simple and easy-to-use interface. It also incorporates the standard suite of MetaTrader 4 and MetaTrader 5. Steven Hatzakis is the Global Director of 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. 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).
Each year, we collect thousands of data points and publish tens of thousands of words of research. We use proprietary AI technology to assist in some aspects of our content production. However, our scores, ratings, and rankings of online brokers are based on our in-depth product testing and thousands of hand-collected data points. MultiBank may not be the best choice for beginners due to its lack of educational resources, including advanced and beginner education videos. The broker’s rating for education and beginners is below average, indicating that other brokers may provide better support for new traders.
MultiBank offers ECN trading on a generous range of over 1,000 instruments via easy to use platforms that are loaded with all the tools that you need for a comfortable trading experience. You can trade Forex, Metals, Commodities, Shares, Indices, and Cryptos. They follow a pure Non-Dealing Desk ECN trading structure with direct access to over 20 interbank trading prices without any conflict of interest. https://traderoom.info/ The various liquidity providers (LPs) are pooled together which means that you can get your trades executed at the best possible prices at all times, with quick execution speeds and minimal slippage. I found the trading conditions to be very good, with tight spreads and competitive fees. I would always prefer to use a broker without a dealing desk as I don’t want them to interfere with my trades.