MultiBank Group Review 2023 Is It a Good or Bad Broker?

Yes, regulated forex trading platforms are available in many countries to ensure fair practices adhering to guidelines. AXITrader is a quality option for beginner traders who want to learn tricks and develop their skills. The demo account is a selling point, which comes with $50,000 of virtual funds to practice with. However, this broker does lack a large range of platforms and tradable instruments.

Average spreads in the commission-free Maximum account equals 1.4 pips, which is quite elevated. MultiBank Exchange Group also offers free Virtual Private Servers (VPS) available to all its customers through reliable third-party hosting vendors. MultiBank offers support in eight different languages, and help is available 24/5 via telephone, email, WhatsApp, and live https://traderoom.info/multibank-overview/ chat. There is no educational content available on the MultiBank platform. MultiBank Group offers free Virtual Private Servers (VPS) to all its customers through reliable third-party hosting vendors. MultiBank Group’s FIX API is a comprehensive solution for institutional and high-volume clients seeking direct market access at the best pricing and terms.

Limited Educational Resources

It also allows the use of automated trading systems and copy trading. The MT4 platform offers good security as it uses 128-bit encryption for data protection. MultiBank Group provides the MetaTrader 4 web trading platform that can be accessed from any web browser, or you can also download it to use as desktop software.

The advantage of using a VPS is that it can help you execute your trades faster and more accurately. The MultiBank Pro account sees a reduction to 0.8 pips, while the commission-based ECN Pro account lists them as 0.1 pips for a fee of $3 per lot, which is the most competitive offer. MultiBank Exchange Group offers the powerful proven capabilities of MetaTrader’s MT4 and MT5 platforms. These include Maximus MT4, MultiBank Pro MT4 and ECN Pro MT4, with each of them ideal for a specific kind of client.

Customer reviews

Multibank’s mobile trading platforms are average compared to other similar brokers. It offers mobile versions of MT4 and MT5, but no proprietary mobile trading solutions. When compiling this Multibank Group review, we also looked at industry expert comments.

MultiBank Exchange Current Popularity Trend

The platform also allows the use of automated trading systems (trading robots) and copy trading. 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.

Under this subsidiary, Multibank deposits all client funds in segregated bank accounts and uses tier-1 banks (the safest and most secure) for this purpose. MultiBank also offers negative balance protection, which means that clients can lose all, but not more than the balance of their Trading Account. Leading the market with over 20,000 CFDs to trade and regulation 10 from national authorities (including ASIC and BaFin), MultiBank is our pick for the best global CFD provider for 2021. MultiBank’s huge share CFD range is enhanced by a good selection of Forex pairs, indices, commodities and crypto CFDs. Our team also liked the low-cost Islamic trading account and the low trading costs on MultiBank’s ECN trading account. The desktop version includes enhanced capabilities for in-depth price research, algorithmic trading applications via trading robots or expert advisors (EAs), and copy trading.

Though it is now showing its age, MT4 is still popular for its auto trading features that enable algorithmic trading and strategy backtesting with expert advisors (trading robots). Multibank offers six trading account currencies, which is average compared to other brokers, including USD, AUD, GBP, EUR, CAD, and CHF. Multibank offers a number of deposit and withdrawal methods, which are free of charge, and quick processing times. We provide broker reviews and ratings to help users find a suitable broker according to their own needs.

However, this broker does lack a comprehensive range of educational resources. This fact alone gives peace of mind, but it also has strong regulation and many satisfied customers. This broker focuses on reliable trading services along with advanced technology and excellent customer support. All this has earned a strong reputation among traders and industry experts.

Offering incentives for reviews or asking for them selectively can bias the TrustScore, which goes against our guidelines. First I would like to thank the team especially Leo for a good work done. I really love how fast they responded to me when I contacted them and I appreciate their efforts a lot.

Moreover, as it's a regulated broker, you can be sure that your funds are safe and secure with them. Among the above-mentioned account types, the ECN Pro account offers the tightest spreads, starting from just 0.0 pips. Sadly, this account type comes with a rather large minimum deposit of USD 5,000, making it unattainable for many smaller traders. In addition, MultiBank offers tight spreads and a competitive commission fee for trading online. Moreover, the broker provides the popular and robust MetaTrader 4 and 5 platforms so you can get convenient access to trade and invest across all of your web, desktop and mobile devices.

Deposit and Withdrawal

MultiBank Group offers to trade 20,000+ products across six asset classes including Forex, metals, shares, indices, commodities, and cryptocurrencies. In addition, they provide a free demo account in which traders can test the trading platforms and tools. MultiBank Group provides its traders with some of the best trading platforms in MetaTrader 4 and MetaTrader 5. You can also get free access to some helpful trading tools to assist you with your daily trading activities.

• Regulation provides a level of security and protection for traders, as it requires the platform to adhere to specific rules and guidelines designed to safeguard the interests of market participants.
• MultiBank Exchange Group has a minimum deposit requirement of only $ 50 for the Maximus Account.
• Tune in to “Let’s Talk Forex,” a podcast designed for traders of all levels.

This means that customers can walk into any office and ask for advice or make a complaint if need be. Yes, MultiBank Group is regulated across its various global entities. 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.