MultiBank Review Updated year : Pros & Cons Revealed

However, it’s important to note that they are prohibited from offering services in certain countries, such as the United States, Japan, and Canada. Traders should always verify that MultiBank Group is authorized to operate in their country of residence before opening an account. MultiBank Group offers several exciting promotions to both new and existing clients. These offers are designed to enhance your trading experience and provide extra value. Let’s dive into the details of each promotion and explore how you can benefit from them.

Cashback Program

Traders can trade popular cryptocurrencies in addition to forex, metals, shares, indices, and commodities. MultiBank Group provides a robust mobile trading experience, ensuring traders can manage their portfolios anytime, anywhere. For those interested in digital assets, MultiBank Group offers access to a range of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. Trading cryptocurrencies allows clients to diversify their portfolios further and take advantage of the highly volatile nature of the digital currency markets. MultiBank Group’s global presence, with entities regulated in several jurisdictions, allows them to serve a wide client base.

Tradable Instruments

Users can access the popular MetaTrader 4 (MT4), MetaTrader 5 (MT5), Multibank.io, and the proprietary MultiBank-Plus platform. These platforms support advanced charting, instant execution, and seamless integration across devices. Yes, it offers a demo account for traders who want to practice their trading strategies without risking real money. This is a great tool for both beginners and experienced traders to get familiar with the platform and test new strategies. MultiBank Group places a strong emphasis on providing exceptional customer service.

Arash Doostelahi is a dynamic content writer and online course creator based in Tehran, Iran, with expertise in content strategy, instructional design, and digital storytelling. Submit your completed application and wait for the broker to review and approve your account. Payment options include credit/debit cards, bank wire, e-wallets, and crypto with no deposit or withdrawal fees. Connect with a network of driven professionals, gain valuable insights, and access resources that propel you toward your dream career. Withdrawals with MultiBank Group normally take 3 to 7 business days, depending on the withdrawal method and the recipient’s bank or financial institution’s processing time.

See how other brokers compare in terms of features, platforms, and trading experience. https://lunarcapital.team/ Yes, MultiBank Group is regulated by the Securities and Commodities Authority (SCA) in the UAE under the name MEX Global Financial Services LLC. Customer support at MultiBank Group is available 24 hours a day, 7 days a week, ensuring that traders can receive assistance regardless of their geographical location or trading hours.

• Trust Scores range from 1 to 99 (the higher a broker’s rating, the better).
• The broker boasts a daily trading volume exceeding $18 billion and a paid-up capital of over $322 million, underscoring its financial stability.
• Joey Shadeck is a Content Strategist and Research Analyst for ForexBrokers.com.
• I don’t feel the need to use the web version of the platform that much, but it can come in handy if you need to access your account directly in the web browser without installing any software.
• And strangely for such a heavily regulated broker, they don’t have FCA (UK) oversight.
• Pro is available from $1,000, a high demand, but it cuts trading fees by almost 50%.

Futures Fees

Fill out the required details, including your name, email, phone number, and preferred trading platform. Once registered, you will receive login credentials via email, granting access to a simulated trading environment with virtual funds. The demo account provides real-time market conditions, enabling traders to test strategies, explore platform features, and gain confidence before transitioning to a live account. The MT5 platform offers a powerful and versatile trading environment with enhanced features designed for professional traders.

I had a question about setting up an Islamic account so I contacted support via live chat, and within 10 minutes, a friendly agent responded. Mark (the agent dealt with) promptly explained the documentation needed and even followed up by email to ensure my forms were submitted correctly. As of the writing of this review, MultiBank does not offer direct ETF trading. You cannot trade ETFs or bonds directly; only the underlying indices or stocks.

Product Range

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MultiBank Group does well in this regard as they have a diverse range of methods available. Overall, MT5 has become my go-to platform when I need more than what MT4 can offer. In terms of transparency, I also appreciate that MultiBank Group discloses its liquidity providers publicly. No internal withdrawal fees, though external charges may apply depending on the method used.

Whether you’re a beginner looking for educational resources or an experienced trader seeking advanced tools and competitive trading conditions, MultiBank Group provides an excellent all-around trading experience. MultiBank provides a free virtual private server (VPS) to all clients who indicate interest by filling the VPS request form. The VPS provides low latency with a reliable and steady connection to the trading servers. A VPS is often used by professional traders who use EAs or other complex trading systems that they need to run around the clock. This is because a VPS can run trading platforms 24/7 without you needing your computer switched on.

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. 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.

Avoid Trading with MultiBank If:

• MultiBank Group traders are offered more than 55 currency pairs in the Forex section, covering majors as well as exotic currencies.
• The MetaTrader 5 (MT5) trading platform is designed to meet the growing demands of brokers and traders.
• However, make sure to check applicable margins for the instrument you are willing to trade, so you cover particular conditions, as well as various technology platforms, that may require higher deposits.
• WebTrader is fully compatible with MT4 and MT5 accounts, ensuring a seamless trading experience.
• Additionally, MultiBank supports MetaTrader 4, MetaTrader 5, and social trading, allowing users to deploy Expert Advisors (EAs) and copy the trades of experienced traders automatically.
• The software is user friendly and supports a wide variety of trading technologies including the use of Expert Advisors (EAs).

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). All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with quality data they can trust. With its headquarters in Hong Kong, the Group has expanded its reach globally, boasting offices in major financial hubs across various continents.

Softwares & Platforms

MultiBank Group is regulated by 12+ different forex authorities – the most I’ve encountered. The broker offers three account types, including an ECN account with spreads from 0.0 pips and a $3.00 commission per lot. Trading platforms include MT4, MT5 and the MultiBank-Plus platform, which features integrated social and copy trading tools. Each account type provides access to the same trading platforms and markets but differs in trading conditions such as spreads, leverage, and commissions. The MT4 platform was originally developed in 2005 and has since gained worldwide fame due to its sophisticated trading tools and advanced trading capabilities. There are thousands of plugin apps which have been built to enhance and expand its features.