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. 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. 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. The MultiBank Pro platform has similar features to ECN Pro, and it uses the MetaTrader 4 platform (one of the industry standards for trading).
Offering of Investments
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MultiBank Group pros & cons
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 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).
including equities of top companies.
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. 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.
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.
Deposit options
However, compared to ECN, you don’t have to make as high of an investment. ECN Pro requires a minimum deposit of $5,000, while MultiBank Pro requires a minimum account size of $1,000. 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.
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 limefx clearly has a lot of longevity in the industry, as well as a solid reputation. Read our full explanation and accounting of our research and testing process to learn more about how we test.
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 same funding options available for deposits can be used to withdraw funds at MultiBank.
Traders who act as Signal Providers can scale their income, earning extra money when investors copy their account and trading moves. Social Trading indicates that this broker works with both sides of the spectrum, experienced and new(ish). With MultiBank, you can trade products like Forex, metals, shares, indices, and commodities on a wide range of platforms. There is also a white label partnership program for interested brokers. MultiBank’s global presence and ideal trading conditions make it one of the most competitive brokers around. All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor.
- 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.
- 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.
- Like its web counterpart, the MultiBank-Plus app could use more tools and functionalities and fewer messages that feel like ad placements.
- The reality is that only 1042 markets are available by default on its MetaTrader platforms.
In conclusion, though MultiBank might not work for complete novices, it is still a wide-ranging broker, able to fit with most experience levels. Steven Hatzakis is the Global Director of 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.
Each 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). The Standard account requires just a $50 minimum deposit, but comes with higher relative spreads. In my opinion, MultiBank’s Standard account is https://limefx.club/ 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.