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). 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). 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. 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.
MultiBank Group boasts daily trading volumes averaging in excess of US$15.6 Billion per day and is one of the most regulated financial institutions worldwide with over 15 regulators across 5 continents, with an unblemished record since its inception in 2005. Some of the other important research categories that are factored into our testing include mobile trading accessibility and capability, availability of market research and educational content, and each broker’s overall Trust Score. Yes, deposit bonuses offered by MultiBank Group are legit, but that doesn’t necessarily mean you’ll be able to redeem them. Such bonuses come with steep volume requirements that must be met before redemption is allowed, and it’s possible for your losses to far offset the amount promised by the bonus. 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.
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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.
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Islamic traders also need not feel left out, as there are Islamic Account options for those who follow the Muslim faith. The Islamic Account at MultiBank allows Muslim traders to waive swap fees. In conclusion, though MultiBank might not work for complete novices, it is still a wide-ranging broker, able to fit with most experience levels. 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.
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. I was happy to see that it has developed its own social copy trading platform, and spreads are competitive on its ECN Account offering. Making its entire range of markets available by default and adding more educational and research content would help to balance MultiBank’s overall offering. We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. 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.
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Mr. Taher’s remarkable story goes beyond the financial industry, extending into various other sectors. His achievements outside finance include developing key infrastructure in the Middle East, founding Eastern Europe’s first private airline, and managing a substantial fleet of ships. Throughout his career, Mr. Taher has also worked with major financial institutions such as BNP Paribas, Barclays, UBS, Credit Suisse and Merrill Lynch, cementing his role as a pivotal figure in forex, electronic banking, and finance. Read our full explanation and accounting of our research and testing process to learn more about how we test. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
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With MultiBank, you can trade products like Forex, metals, shares, indices, and commodities on a wide range of platforms. MultiBank’s global presence and ideal trading conditions make it one of the most competitive brokers around. As the Founder and Chairman, Naser Taher has spearheaded the growth of MultiBank Group, creating a global powerhouse in traditional finance with robust net assets of over US$583 million with over 1 million traders across 90 countries.
Platforms like MetaTrader 4 and MetaTrader 5 have become industry standards for a positive user experience, so that bodes well for MultiBank. Additionally, the customer service offered at this broker is impressive. You can also contact this broker via email, live chat, or video conference, in addition to the dozens of phone numbers offered. There is a request form on the Contact Page of MultiBank’s main website. Since then, we have evolved into one of the largest financial derivatives companies worldwide, with a current paid-up capital of over $322 million. Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers.com.
- Features like Social Trading allow traders to “invest smarter.” You can copy the trades of profitable, consistent traders.
- The spread you’d end up paying to trade eight million units of currency will end up being greater than the deposit bonus.
- There are several features offered at MultiBank that clue you in as to this broker’s target customers.
- ECN Pro requires a minimum deposit of $5,000, while MultiBank Pro requires a minimum account size of $1,000.
- Islamic traders also need not feel left out, as there are Islamic Account options for those who follow the Muslim faith.
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. 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.
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. 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. Also worth noting is its license to operate as a cryptocurrency exchange.
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. The broker clearly has a lot of longevity in the industry, as well as a solid reputation.
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. There are several features offered at MultiBank that clue you in as to this broker’s target customers. At MultiBank Group, the educational tools are light, limefx scam so complete novices might find it a little difficult to get going. However, that’s not to say that you need to be a seasoned pro to join this broker. An ECN account is best-suited for traders looking for raw spreads and instant execution.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. 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. This prestigious recognition highlights Naser Taher’s visionary leadership and significant impact on the financial industry. MultiBank Group maintains 25+ offices worldwide catering to an international client base and partners with affiliates in major financial hubs around the world.
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. 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 and qualified opinions of our expert researchers. Each limefx broker reviews 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). 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.