MultiBank Group is a multi-regulated ECN broker that provides access to trade over 1,000 forex & CFD instruments on the MT4 trading platforms for desktop, web and mobile devices. They also offer social trading platforms, MAM accounts, free VPS and Autochartist signal software. However, the broker charges additional fees and has no educational materials to help traders.
show 1 MultiBank Review, Pros & Cons 2 MultiBank Overview 3 MultiBank Regulation 4 MultiBank Countries 5 MultiBank Platforms 5.1 MetaTrader 4 (MT4) Platform 5.2 Mobile Trading App 6 MultiBank Trading Tools 6.1 Multibank Social Trading 6.2 MAM/PAMM Accounts 6.3 Autochartist 6.4 VPS 7 MultiBank Education 8 MultiBank Instruments 9 MultiBank Accounts & Fees 10 MultiBank Support 11 MultiBank Deposit & Withdrawal 12 MultiBank Account Opening 13 MultiBank Summary
MultiBank Review, Pros & Cons
In this detailed MultiBank review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
MultiBank FX is one of the largest forex and CFD brokers. Founded in California, USA in 2005, MultiBank Group has become a global brand with a large capital base and multiple branches across the globe. The headquarters are in Hong Kong while other offices are in 15 locations across the world. The broker boasts of over 320,000 clients from more than 90 countries worldwide.
MultiBank offers ECN trading of over 1,000 instruments on cutting edge platforms. The broker states that its pricing comes from over 20 liquidity sources. MultiBank boasts of a trading volume of $6.2 billion every day.
MultiBank is proud to have sponsored the BMW M Motorsport; which manufactures high performance cars used for car racing. The partnership was necessitated by the similar visions of MultiBank and BMW M Motorsport which have been excellent in performance, both in racing and in Engineering. BMW M Motorsport has over 70 wins and 200 podiums around the world from its racing teams.
Since inception, MultiBank has been recognized on numerous occasions for its brokerage services by industry experts and reputable organizations. The broker has won over 40 awards and still counting. In 2019 alone, Multibank won 10 awards. Prominent among the awards are:
MultiBank Broker Awards
MultiBank Exchange is the trading name of MultiBank Forex Exchange (MEX) Corporation which is incorporated in USA with the number 3918038.
MEX Australia Pty Ltd (MEX Exchange) is registered in Australia. The number is 155 084 058. It is regulated by the Australian Securities and Investments Commission (ASIC). The license number is AFSO 416279.
MEX Asset Management GmbH is registered in Germany and regulated the German Federal Financial Supervisory Authority (BaFin). The license number is HRB 73406.
MEX, Spain is regulated by the National Securities Market Commission (CNMV).
MEX Austria is regulated by the Financial Market Authority (FMA) with license number 491129z.
Multibank FX International Corporation is regulated by the Financial Services Commission of the British Virgin Islands (FSC BVI). The license number is SIBA/L/14/1068.
MEX Wealth Management is regulated by the Cayman Islands Monetary Authority (CIMA).
MEX Clearing Ltd UAE is registered in the Ras Al Khaimah (RAK) Free Trade Zone.
Clients’ funds should be fully segregated from broker’s accounts. This is a regulatory stipulation and MultiBank must be completely compliant with this directive. Funds segregation means that clients’ deposits are not used by the broker for its own internal operations; rather it is only used for the purpose for which it was meant, that is, to fund clients’ trading activities.
MultiBank does not accept clients from USA or other areas where its services contravenes the local laws. Some MultiBank broker features and products mentioned within this MultiBank review may not be available to traders from specific countries due to legal restrictions.
MetaTrader 4 (MT4) Platform
MT4 is a powerful trading platform widely used in forex and CFD trading. The MT4 platform was originally developed in 2005 and has since gained worldwide fame due to its sophisticated trading tools and advanced trading capabilities. Already, thousands of plugin apps have been built to enhance or expand its features. MultiBank offers MT4 as WebTrader, mobile apps and Windows desktop application.
Here are some key features of the MT4 trading platform:
MultiBank MT4 Trading Platform
Mobile Trading App
The Mex mobile trader is the MT4 mobile trading app which is available for iOS and Android devices. It can be downloaded from the Google Play or Apple store depending on your device. The mobile app is intuitive and customizable. It can be useful for traders who need to access their trading account to place and manage trades whilst on the go.
Here are some of the mobile trading apps core features:
MultiBank MT4 Mobile Trading App
#1 Best Trading Broker Award 2021 AvaTrade is an award-winning trading broker that is regulated in 6 jurisdictions offering 1250+ instruments across multiple markets & trading platforms for web, desktop & mobile devices. They have low fees, tight spreads & rapid trade execution speeds.
MultiBank Trading Tools
Traders can become signal providers by allowing other traders (investors) to automatically copy their trades while they earn a commission on profitable trades. Multibank provides a list of signal providers and their performance statistics. This is for the investors to choose a provider to copy trades from. The signal providers set the payout intervals and commissions charged for their services. There are no guarantees on the results of using copying trading signals from a social trading platform.
MultiBank Social Trading Platform
The Multi Account Manager (MAM) software is provided by MultiBank for its asset managers who manage several accounts at the same time. The software is user friendly and supports a wide variety of trading technologies including the use of Expert Advisors (EAs). A manager can trade multiple accounts simultaneously from one Master account. Account setup is fast and easy.
This is a tool that continuously scans the markets and in order to give the traders quality trading signals. MultiBank provides the ‘Autochartist MT4 plugin app’ to all clients at no extra cost. The Autochartist notifies the trader when chart patterns are identified. It also performs volatility analysis and comes with a risk calculator.
MultiBank provides a free virtual private server (VPS) to all clients who indicate interest by filling the VPS request form. The VPS provides low latency with a reliable and steady connection to the trading servers. A VPS is often used by professional traders who use EAs or other complex trading systems that they need to run around the clock. This is because a VPS can run trading platforms 24/7 without you needing your computer switched on.
MultiBank do not provide any training materials on their website. There is no trading academy, training videos or any learning resources that will be of benefit to a beginner trader. Most online brokers will provide some educational materials to help support traders so this is a disappointment.
The following instruments are available for trading online with MultiBank:
MultiBank Accounts & Fees
MultiBank offers 3 types of accounts which are all designed for the MT4 trading platform. For all accounts, the maximum leverage is 1:500.
Demo accounts are freely available online, desktop and on the mobile apps. It is risk free and comes with a virtual balance of $50,000. Demo accounts can be used to test the different trading platforms available and practice your trading strategies.
Islamic accounts that comply with Sharia law are available on request. They do not incur swap charges when positions are held overnight and there are no time limits on the open positions.
An inactivity fee of $60 is charged monthly from accounts that have not traded for consecutive 3 months.
As broker fees can vary and change, there may be additional fees that are not listed in this MultiBank review. It is imperative to ensure that you check and understand all of the latest information before you open a MultiBank broker account for online trading.
The multilingual customer support team at Interbank operates on a 24/5 schedule. Over 40 customer support phone lines are listed for different countries. If you wish to receive a phone call, just fill the ‘Get a call back’ form which is available on every web page. There is also a ‘Request a video conference’ form on the contact us page. To chat with a customer care representative, use the ‘chat now’ button to pull up the instant web chat window. Skype call and chats are also available. The support team can also be reached by email. You can also connect with the broker on social media; facebook, twitter, YouTube, LinkedIn and Instagram.
MultiBank Deposit & Withdrawal
MultiBank offer clients a variety of payment methods. The options available to a client depend on his chosen regulatory body as well as country of residence. Third party deposits are prohibited. MultiBank brokerage does not charge deposit and withdrawal commissions. There may be charges from external payment providers that you should be aware of.
The following payment options are available:
MultiBank Trading Account Funding Options
MultiBank Account Opening
To open an account, visit the official MultiBank website and click on ‘live account’ to display the ‘live account form’.
MultiBank Broker Registration Form
Select the regulator of your choice, leverage, account type and client type; individual, corporate, etc. Fill your name, email and mobile phone number. Then, upload verification documents and submit. A ‘thank you’ message is displayed and you will receive an email containing the new account details. Next, you are prompted to make a deposit and can then start trading online. You should make sure that you clearly read and understand all of the brokers terms and conditions during the account opening process.
MultBank Fx is a multiple award winning broker that has been around for over a decade. It is regulated in up to 7 countries and offer ECN trading via modern technologies. Client funds have some protection through a number of measures put in place by the regulators that must be strictly followed by MultiBank Fx.
The broker offers over a thousand trading instruments for trading via the MT4 platform on web, mobile and desktop computers. Multiple trading strategies are allowed and clients can commence trading with as little as $50. Spreads are competitive, starting at 0.1 pips and a maximum leverage of up to 1:500 is allowed.
To make things easier for traders, MultiBank provides a free VPS as well as free Autochartist MT4 plugin for all its clients. This tool can quickly conduct complex charting and analysis that would normally take hours if done manually by traders every day. For investors, social trading and managed accounts are available.
However, MultiBank has no trading articles, no glossary and no training resources to help new traders. Also, there are no daily news updates, economic calendar and no expert fundamental and technical analysis. The broker should look to include these services in order to compete with the best trading brokers. The fees and spreads are also not the lowest when compared to other online brokerages.
Trading foreign exchange and/or contracts for differences on margin carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss in excess of your deposited funds. Please refer to specific risk warning for each regulated entity during the account opening process.
Min $50 Deposit
MultiBank Group is a multi-regulated ECN broker that provides access to trade over 1,000 forex & CFD instruments on the MT4 trading platform. They also offer social trading, MAM accounts, free VPS & Autochartist. However, there are additional fees & no educational materials to help traders.