MultiBank Group Review 2024: Read Before You Trade

In those areas, regulatory stipulations prohibit the issuance of incentive bonuses to traders. The spread on FX pairs depends on the MultiBank account types, with minimums as low as 0.0 pips and as high as 1.5 pips. At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions. I consider Multibank an appealing option for beginners and day traders seeking a wealth of educational resources and trading opportunities. Multibank’s research content caters to the needs of day traders and swing traders. The scope of its market breakdowns and trading signals varies but usually covers opportunities lasting from several hours to several days.

These two platforms will depend on your choice in the grand scheme of things as they all have different requirements, which we will get to in the next paragraph. However, the number of offices doesn’t necessarily speak about the quality of the broker. That much needs to be determined through extensive research of their offerings, which is exactly what we’ll do in this review. The broker seems to have changed its name multiple times to avoid a bad reputation from its previous scam and fraudulent activities and now is operating as a Multi-bank broker. It is still possible to see the broker’s real name of being as MEX on their website.

I’ve got the best assistance from this broker

This allows traders to handle larger positions for a fraction of their overall value, potentially increasing earnings. MultiBank Group emphasizes reducing currency conversion costs for traders operating in multiple currencies. MultiBank Trader 4 is a top-tier trading platform with advanced features like technical indicators and signals, user-friendly design, and one-click trading. Furthermore, the company uses advanced technology to prevent illegal access, abuse, loss, or alteration of personal information. It isolates client funds from company funds, ensuring assets are held in top-tier banks.

For example, the swap rate for holding a long position of EUR/USD open for one night is -3.29 USD, and a short position is +0.67 USD. Funds can be taken out within 24 hours, making it a simple and accessible process for you when you invest with MultiBank. MultiBank’s extensive range of services is one reason we believe they stand out as a broker.

1. They are brand new, not registered and use deep fakes of Elon Musk to advertise.
2. Additionally, it offers swap-free Islamic accounts, aligning trading operations with religious beliefs.
3. This was an extra thing compared to many brokers, but on the other hand it is always reassuring to see your broker taking extra care over security and this is what MultiBank Group is doing here.
4. MultiBank will send an OTP via SMS, which is necessary to complete the process.

Traders must also select their desired trading platform and account tier. This was an extra thing compared to many brokers, but on the other hand it is always reassuring to see your broker taking extra care over security and this is what MultiBank Group is doing here. MultiBank offers a 20% deposit bonus capped at $40,000, subject to trading conditions. MultiBank Group lists 23 phone numbers, provides live chat, video conferencing via Zoom and Microsoft Teams,WhatsApp and e-mail support.

Hassle-free withdrawals

Overall, MultiBank Group is a trustworthy and highly regulated global financial derivatives provider with several industry awards. It offers commission-free options with narrower spreads and ECN accounts for direct market access. FxScouts helps traders across the globe by meticulously testing and reviewing online brokers and providing Forex education and market analysis. While partners may pay to provide offers or be featured, they cannot pay to alter our recommendations, advice, ratings, or any other content. Our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data.

Supported Platforms

Two unique features I want to note are free VPS hosting and FIX API trading. The former supports algorithmic trading, which accounts for 80% of all trades at this broker. The latter allows for the connection of advanced trading solutions to the competitive MultiBank Group trading environment. MultiBank does not charge internal withdrawal fees, but traders may face third-party processing costs or currency conversion fees. Our review of MultiBank’s fees breaks them down into trading and non-trading fees to help traders understand the total costs involved and, therefore, be able to compare them to other brokers. Multibank offers a pretty balanced and diverse set of research materials.

It allows newbie traders to learn the ABCs of trading, both in theory and practice. I appreciated the availability of video content and written articles so traders could learn from multiple angles. Multibank’s guides, ebooks, and videos are mostly dedicated to studying technical analysis, though other important topics, such as trading psychology, are also covered. Multibank stands out with its impressive range of more than 20,000 tradable instruments.

1. In addition, there is a possibility to participate to the Demo Contest and win valuable prizes with no monetary risk, which is definitely a great opportunity.
2. It is still possible to see the broker’s real name of being as MEX on their website.
3. This platform well-deserves a 5-star rating for its outstanding performance!
4. The mobile app version of MT5 affords quick and easy access to the market on the go.

a very friendly team

Multibank also offers a cashback program where traders reap bigger benefits the more they trade. When trading Contracts for Difference (CFDs), positions can be opened for a fraction of their value because of the leverage. Essentially, the broker lends the trader money so that the latter can open bigger positions. The leverage multiplies the profits a trader generates from winning positions and the losses incurred from failed trades. The chart screen is a platform’s key feature, crucial for technical analysis through price action overview.

It offers numerous analytical tools and configuration options for comprehensive examination. The ease of scaling price action is, in my experience, its most critical aspect. In this review, I tested MetaTrader 5, which features multiple essential tools, such as one-click trading, an alarm setting option, and a market depth tool. https://traderoom.info/multibank-overview/ These allow traders to examine various market developments from different angles and to exploit the underlying trading opportunities in multiple ways.

This is quite a steal as many brokers demand higher minimums to run ECN accounts. The Multibank FX brand operates the ECN/DMA model of brokerage, allowing its clients to get pricing and order executions from various liquidity providers without the intervention of a dealing desk. Multibank FX offers the opportunity to use three types of trading accounts to trade 5 different asset classes.

Our in-depth reviews consider over 200 metrics across seven key categories. The radar chart to the left shows how important each category is when calculating a broker’s final score. Expert Advisors (EAs) can be integrated into any MultiBank Group MetaTrader 4 & 5 platforms without restrictions to perform automated trades and place orders at any time. EA can monitor everything from indicators, support, and resistance levels to multiple timeframes and, in turn, maximize your gains.