Like its web counterpart, the MultiBank-Plus app could use more tools and functionalities and fewer messages that feel like ad placements. Though this new app has a long way to go before it competes with the best mobile trading apps, it has a good foundation to build upon and I look forward to seeing how the app progresses. 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. A commission-free account that is perfect for new traders looking to start investing.
However, the vast majority of MultiBank’s listed offering is unavailable when first logging into the broker’s available platforms. 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.
MultiBank group clients
According to MultiBank Group’s website, the broker is well-capitalized with over $322 million in paid-up capital.
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. MultiBank Group does not rank highly in this category, due to the lack of any significant in-house or third-party research content. For the most part, the broker’s research offering is limited to a weekly newsletter and news headlines within its platforms. In 2024, MultiBank launched a proprietary mobile trading app called MultiBank-Plus. This mobile platform offers charting, watchlists, and research articles all wrapped in a modern-looking interface with smooth navigation.
INTRODUCING BROKERS
An experienced media professional, John has 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. The minimum deposit requirement for opening https://lunarcapital.net/ 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. 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.
Forex Risk Disclaimer
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.
An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content. Steven Hatzakis is the Global Director of Online Broker 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).
MultiBank Group offers customers direct access to banks and exchanges through its advanced trading platforms. And while we don’t review forex broker bonus offerings, it’s worth noting that the bonus offer by MultiBank is only available on its Pro and Standard accounts, and not on its ECN account (which has lower spreads). Though there’s room for the overall experience to improve (it wouldn’t hurt to include additional resources for traders who are opening an account for the first time), I found MultiBank’s client portal generally comparable to industry standards. 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 account opening process at MultiBank Group is relatively straightforward.
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- The Pro account requires a $1,000 minimum deposit but features lower spreads than the Standard account.
- According to MultiBank Group’s website, the broker is well-capitalized with over $322 million in paid-up capital.
- Though processes may vary depending on the MultiBank Group entity that holds your account, withdrawals typically require a withdrawal request form.
- The reality is that only 1042 markets are available by default on its MetaTrader platforms.
- You should satisfy yourself that entry into a financial product offered by MEX Australia Pty Ltd is permissible in your jurisdiction.
- Dealing in foreign exchange contracts and our other over-the-counter derivative products carries significant risk.
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 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’s best feature is its relatively high Trust Score; the broker holds multiple regulatory licenses, including Tier-1 licenses in Singapore and Australia. MultiBank Group offers both the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms developed by MetaQuotes Software Corp, in addition to its recently launched proprietary MultiBank-Plus mobile app, available for iOS and Android devices. 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. Over the past decade, MultiBank Group’s achievements have been recognized by the global forex industry, including awards from distinguished financial institutions, media organizations, and publications. Since then, we have evolved into one of the largest financial derivatives companies worldwide, with a current paid-up capital of over $322 million.
- MultiBank Group holds multiple broker licenses in a variety of jurisdictions, including from Tier-1 regulatory bodies such as the Australian Securities & Investment Commission (ASIC) and the Monetary Authority of Singapore (MAS).
- Please contact us or refer to our Target Market Determination for more information.
- 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.
- You should satisfy yourself that entry into a financial product offered by MEX PACIFIC (V) LTD is permissible in your jurisdiction.
- MultiBank advertises 14,145 tradeable markets, with 14,054 stocks, 11 crypto CFDs, 11 commodity CFDs, 40 forex pairs, 6 metals, and 23 indices.
The best forex brokers make all markets available directly within the trading platform, making it far easier to find trading opportunities. 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). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables. 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. Research and education at MultiBank Group brands have a long way to go to catch up to industry leaders, but the broker continues to make progress in other categories.
The Pro account is suitable for traders looking to take advantage of zero commissions, tight spreads, and instant execution. Joey Shadeck is a 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 Lunar Capital cheating ten years.
Additionally, traders can explore our newly launched all-in-one platform, MultiBank Plus. The reality is that only 1042 markets are available by default on its MetaTrader platforms. Though the number of symbols available on the MetaTrader platform at MultiBank is on par with the industry median (982 symbols for MetaTrader offerings), traders that want to access the full range of MultiBank’s advertised markets must submit manual requests via email. This frustrating process is at odds with how most brokers deliver investment products.
