Multibank is a forex and CFD broker founded in 2005 in California, USA. Since then, the company established itself as one of the most regulated and trusted brokers in the online trading industry. It offers more than 20,000 tradable instruments across six asset classes, including forex, metals, indices, shares, and cryptocurrencies, on three account types with competitive pricing.
My Key Takeaways After Exploring Multibank’s Instruments Offering
Five of those are dedicated to MetaTrader, and the other six examine the use of the Multibank-Plus platform. The videos introduce beginners to price trends and how to spot them, trade them, apply risk management, and discern market noise from real price movements. I like that after covering each topic, you can practice what you limefx reviews have learned by taking a quiz.
Since the companies are heavily regulated, they are expected to uphold strict rules and obligations, allowing clients the highest level of funds security. It is important to keep in mind that protection and products can vary depending on the entity that you open a trading account with. Founded in California, USA in 2005, MultiBank Group has become a global brand with a large capital base and multiple branches across the globe. Along the way, they have helped to pioneer and shape the foreign exchange industry and continue to create industry leading products and services. The headquarters are in Hong Kong while other offices are in 15 locations across the world.
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. Yes, deposit bonuses offered by MultiBank Group are legit, but that doesn’t necessarily mean you’ll be able to redeem them.
Top Features
The same funding options available for deposits can be used to withdraw funds at MultiBank. Though processes may vary depending on the MultiBank Group entity that holds your account, withdrawals typically require a withdrawal request form. Pretty low spreads and commission charges, quick deposits and withdrawals, local offices in Europe.So far it’s going… Here, spreads start from 1.4 pips, and the minimum deposit is set to just USD 50. The MultiBank Group comprises a number of financial institutions that are regulated by multiple financial authorities including SCA, MAS, CySEC, ASIC, AUSTRAC, BaFin, FMA, FSC, CIMA, TFG, and VFSC. These reputable regulators ensure the highest levels of safety and security for traders.
The Autochartist software notifies you when chart patterns are identified. It also performs volatility analysis and comes with a risk calculator. I think this is a fantastic tool for automatically searching for signals that meet your own criteria. It can literally save you from hours of scanning charts and find trade setups that you may have otherwise overlooked. You can get Autochartist through some other brokers, including Forex.com. My tests indicate that Multibank’s Standard account is the most accessible one, but it also features trading fees that exceed the industry average.
MultiBank FX offers the industry-favorite MetaTrader 4 and MetaTrader 5 platforms. Alternatively, the broker’s web trader solution, MultiBank-Plus, enables investing from any browser and operating system. The minimum deposit for the MultiBank Group Standard account is $50 or a currency equivalent. limefx broker reviews I strongly recommend the ECN account despite its high deposit requirement.
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 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.
Is MultiBank’s 20% deposit bonus legit?
- In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight.
- I would always prefer to use a broker without a dealing desk as I don’t want them to interfere with my trades.
- You can always try them both on demo accounts to see which you prefer.
- They are available as a desktop client, with full support for EAs, where MT4 remains a market leader.
- In terms of forex, MultiBank offers about 50 different currency pairs, which is roughly in line with what other brokers offer.
There is something for everyone to trade, regardless of your interests. I think most of you will be able to build a diversified portfolio with various asset classes to choose from. The ebooks also have a heavy emphasis on the study of technical analysis but also focus on the psychology of trading. You can also use the app to place market, limit, and stop orders, as well as to adjust the exposure of your open trades. The market is continually evolving, marked by periodic surges and declines in volatility. For this reason, staying abreast of the latest market developments is crucial, a task made simpler through the mobile app version of MT5.
But then I contacted customer services where I met an Agent called Ben who was patient and swift in communication and action, My problem got solved and am thankful once more. MultiBank was set up in the US all the way back in 2005 under the name MultiBank Forex Exchange Corporation. However, the company is today not regulated in the US, and as many other brokers it does not accept US residents as clients. Above all, our experts assess whether a broker is trustworthy, taking into account their regulatory credentials, account safeguards, and reputation in the industry. If you have experience trading with MultiBank FX please share your personal review of the broker and what you think are strong and weak points.
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. Our review covers everything from the group’s products and spreads to leverage and deposit options. We also examine the user experience, including the login process and the broker’s customizable trading platforms.
Overall, MultiBank Group is a reliable, established financial derivatives broker with a strong regulatory framework that provides the latest technology and services. Utilizing top-tier MT4 and MT5 platforms, the company provides a good all-round trading experience. MultiBank is an award-winning broker that has been around for amy years.
This makes it a good option for beginners who are just starting in the financial markets. MultiBank Group lists 23 phone numbers, provides live chat, video conferencing via Zoom and Microsoft Teams,WhatsApp and e-mail support. The overall customer support options at MultiBank Group are excellent. Two unique features I want to note are free VPS hosting and FIX API trading.
Multibank also offers a cashback program where traders reap bigger benefits the more they trade. One of the biggest advantages of trading CFDs is that traders can get in and out of the market almost instantaneously, thereby catching even minute changes in the price of the derivative. The mobile app version of MT5 affords quick and easy access to the market on the go.
MultiBank offers bank wires, credit/debit cards, SEPA, Skrill, Neteller, PayTrust, Payment Asia, Globe Pay, ThunderX, Help2Pay, POLi, and cryptocurrencies (Bitcoin and USDT). I like the choice and flexibility concerning financial transactions at MultiBank Group. A cashback program, which gives rebates on trading in volume in Forex currency pairs and metals, is also offered. MultiBank Group levies a $60 monthly inactive fee after three months, which active traders will never face.