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 https://traderoom.info/ and news headlines within its platforms. When examining the barriers to entry, examine the fees and minimum investment. MultiBank Group currently offers 3 different accounts, easily accessible through their website.

Account Types and Terms

Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information. MultiBank Group is dedicated to providing clients with the best possible customer experience. One key benefit that allows MultiBank Group to stand out from the competition is that its customer service is available any time or day of the week. You can contact a customer service representative at your convenience internationally 24/7. Rapid customer service response helps smooth the trading process for both new and expert traders.

FxPro vs. HF Markets

Furthermore, the company uses advanced technology to prevent illegal access, abuse, loss, or alteration of personal information. It isolates client funds from company funds, ensuring assets are held in top-tier banks. Yes, MultiBank Group serves institutional clients with its ECN Account, which provides raw spreads and quick execution. The Pro account is suitable for traders looking to take advantage of zero commissions, tight spreads, and instant execution. Islamic traders also need not feel left out, as there are Islamic Account options for those who follow the Muslim faith.

cTrader Brokers

This is because when trading a USD quoted currency pair with another currency account, there will be a small conversion fee for every trade made. MultiBank has a diverse range of active deals and promotions, including on-deposit bonuses, imperial bonuses, loyalty bonuses, and ‘refer a friend’ bonuses. Overall, Multibank offers a number of funding and withdrawal methods, which are free. Additionally, deposits are processed within 24 hours, and withdrawals are processed instantly, which is fast. Most traders will be able to satisfy this step by sending a copy of their ID and one proof of residency document.

Multibank offers an average range of trading account currencies compared to other brokers. You should consider whether you understand how CFDs and leveraged https://traderoom.info/multibank-overview/ trading work and if you can afford the high risk of losing your money. We may receive compensation when you click on links to products we review.

MultiBank trading platforms and tools

Multibank, a tightly regulated derivatives broker, stands out for its commitment to trader safety, boasting licenses from five Tier 1 financial regulators. The broker also offers Islamic accounts for swap-free trading, as mandated under Shariah law. Traders who want to open an Islamic account need to contact Multibank’s customer support and request the service from there.

1. It supports netting, order types, and customizable charting, enabling efficient holding management.
2. We are sorry to hear about your concerns regarding the $10 No-Deposit Bonus.
3. Multibank offers more than 20 different payment methods for the convenience of its clients.
4. This extensive range of assets makes it a strong choice for traders looking for diverse investment opportunities.
5. 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.

Chris joined the company in 2019 after ten years experience in research, editorial and design for political and financial publications. His background has given him a deep knowledge of international financial markets and the geopolitics that affects them. Chris has a keen eye for editing and a voracious appetite for financial and political current affairs. He ensures that our content across all sites meets the standards of quality and transparency that our readers expect. MAM stands for Multi-Account Manager which permits a range of customisable ways to sub-allocate trades.

I have compiled the table below to help you better understand the difference between the trading fees of Mutlibank’s three account types and the industry average. It illustrates the spreads and commissions I have recorded for the EUR/USD pair and compares them against the typical costs for ECN and STP accounts in the industry at large. Multibank offers commission-free trading and spreads that vary greatly from one account type to another. The broker’s swaps are elevated, but swap-free trading is available via its Islamic accounts. I also learned that Multibank does not charge deposits and withdrawals but has a high inactivity fee.

Two of the accounts have trading costs included in the variable spreads, while its Pro Account offers raw spreads in exchange for a commission per lot traded. The Forex and CFD broker mentions its compliance with multiple regulatory bodies. Heavy regulation holds MultiBank Group to the highest standards in terms of compliance, including the additional security measures to protect traders. The minimum investment amount will vary depending on the type of account you choose to open. The three account tiers provide traders with the latest technology and trading tools to trade the financial markets with ease. Looking at our database, the average forex broker offers 6 of the 11 features variables we track in the commissions & fees category, and has average spreads of 1.04 when trading the EUR/USD.

They kept delaying, adding weird fees, and finally wouldn’t let me withdraw at all.Realized too late it’s a scam. Lost a lot of my grandparents’ money, which hurts more than anything.Now, I’m working with a company. They’re helping me deal with these guys, trying to get back what I can. I prefer to not expose their name here so feel freeo to contact me at my proton mail, gogomalemaJust wanted to say, be careful. Multibank are scammers, first they tell to make deposit of USD 2000 and gives you good advise to make money.

But after a month when i asked for my payment they just said company has closed the program. Customer service representative at your convenience internationally 24/7. Rapid customer service response helps smooth the trading process for new and expert traders. Multibank offers six trading account currencies, which is average compared to other brokers, including USD, AUD, GBP, EUR, CAD, and CHF. MultiBank Group lists 23 phone numbers, provides live chat, video conferencing via Zoom and Microsoft Teams,WhatsApp and e-mail support.

This includes pros, cons and an overall rating based on our findings. Trading Brokers Trading Brokers is dedicated to bringing you unbiased broker reviews, the latest broker news and trading guides to help you along your trading journey. We have over 20 years of experience when it comes to trading online so we know what to look for.

Managed accounts are great for beginner traders who have limited experience with trading. Multibank offers a number of deposit and withdrawal methods, which are free of charge, and quick processing times. Overall, Multibank’s account-opening process is fully digital and hassle-free and accounts are generally ready for trading immediately. On balance, Multibank’s non-trading fees are average compared to other brokers. Multibank’s trading fees are average compared to other similar brokers.