MultiBank Review 2024: Pros & Cons

We are on a mission to familiarize investors with one of the best trading platforms to enhance their wealth with a secure investment. 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. 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. 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. Generative AI tools are not a part of our content creation or product testing processes. 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 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. 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 limefx reviews 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.

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. MultiBank Group offers forex, CFDs, and underlying cryptocurrencies across its relevant brand entities around the world. MultiBank advertises 14,145 tradeable markets, with 14,054 stocks, 11 crypto CFDs, 11 commodity CFDs, 40 forex pairs, 6 metals, and 23 indices. However, the vast majority of MultiBank’s listed offering is unavailable when first logging into the broker’s available platforms.

  1. Third is the Maximus account, which requires a minimum account size of $50.
  2. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
  3. Additionally, the customer service offered at this broker is impressive.
  4. 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.
  5. There are several features offered at MultiBank that clue you in as to this broker’s target customers.
  6. 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.

The broker clearly has a lot of longevity in the industry, as well as a solid reputation. Our industry experience of more than 11 years ensures the smooth functioning of the platform with exclusive features. Read our full explanation and accounting of our research and testing process to learn more about how we test. 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.

What is the minimum deposit for MultiBank?

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. 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. 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.

OUR PRODUCTS

That said, this broker still has a long way to go if it wants to compete with the best brokers for education. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. 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. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content. The account opening process at MultiBank Group is relatively straightforward. Resources and applications for opening an account can be found within the client portal on the MultiBank Group website under the My MultiBank section. 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.

About MultiBank Group FX

For example, if you deposit $1,000 of trading funds to receive a $200 promotional deposit bonus, the volume requirement to redeem the bonus would be 80 standard lots – or 8,000,000 units of currency. 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 https://limefx.name/ bonus. 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.

The reality is that only 1042 markets are available by default on its MetaTrader platforms. This frustrating process is at odds with how most brokers deliver investment products. The best forex brokers make all markets available directly within the trading platform, making it far easier to find trading opportunities. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process).

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