MultiBank Exchange Group
- Name : MultiBank Exchange Group
- Website : www.mexgroup.com
- Established : 2005
- Regulation : ASIC, CIMA, BaFin, BVI
- Country : Hong Kong (SAR)
U.S. Clients Allowed :
NoDue to strict US regulation many brokers aren't able to accept traders with US citizenship.
See our list of recommended brokers that do accept US traders.
MultiBank Exchange Group ReviewMultiBank Exchange Group Review
The Multibank Exchange Group (MEXGROUP), founded in 2005, is a Forex and CFD broker headquartered in Hong Kong. The company also has offices in the United States, Australia, Germany, Spain, UAE, China (Beijing, Tianjin, Hangzhou, Shenzhen), Vietnam, Cyprus, the British Virgin Islands and the Cayman Islands. The company is regulated in many jurisdictions including Germany, the British Virgin Islands and the Cayman Islands. They also have an Australian operation regulated by ASIC, although this is available only to Australian residents. They are one of the oldest players in internet trading. They provide a trading platform that offers traders a very wide range of assets for trading in spot metals, indices, bonds, individual stocks, and Forex currency pairs across both major and minor financial markets.
There are four different account types to choose from at the MultiBank Exchange Group. The Pure ECN PRO account allows trading with floating spreads starting at a minimum of 0.1 pips under typical market conditions, as well as commission. As its name suggests, the account is of the no dealing desk ECN type. This account is available through the MetaTrader 4 platform. The Multibank account allows trading with floating spreads starting at a minimum of 0.5 pips under typical market conditions, without commission. The Maximus MT4 account allows trading with spreads starting at a minimum of 1.4 pips under typical market conditions, without commission. The account is fully STP and is available through the Metatrader4 platform. The Turbo Meta MT4 account is the same, except the minimum fixed spread is 2 pips.
A maximum leverage of 500 to 1 is available in Forex trading, and up to 250 to 1 in Metals.
The different accounts are easy to understand and are transparent. The major differentials between accounts are platform Spreads. All accounts offer minimum trade sizes of 1 microlot (0.01 full lots).
A demo account is available, as is typical with nearly all spot Forex and CFD brokers.
A wide range of over 55 Forex currency pairs, spot metals (gold and silver), indices (over 72 global indices), and commodities (13 different commodities), may be traded with the MultiBank Exchange Group.
One of the most notable features of the MultiBank Exchange Group is that they offer deep liquidity and no restrictions on trading. Automated trading and hedging are possible in their offering. A lot of variety is offered in terms of account types. This means that traders can choose which offering suits them depending upon how much and how often they trade, as ECN will work better for some traders than other. They also promise no requotes or slippage, which is a bold claim that few brokers would make.
This broker offers 4 trading platforms that are offered for clients to use. The well-known and popular MetaTrader 4 platforms is available, as their proprietary Multibank platform. Expert Advisors can be run through the MetaTrader 4 platform.
It should be noted that although scalping is technically allowed, the Multibank Exchange Group will not allow any trades with a total duration of less than 10 seconds, which they define as “stale trades”. Although scalping is allowed, as defined by trades lasting less than 2 minutes but more than 10 seconds in total, where scalp trades comprises more than 25% of all trades taken, the broker reserves the right to set these trades aside. A seasoned broker , MultiBank Exchange Group has been using MT4 platforms since their inception in 2005, with a wide range of data centres and servers, traders feedback indicate that they have extremely good execution on their platforms along with tight pricing which makes them an extremely attractive option for traders.
The Multibank Exchange Group’s educational offering is not particularly strong. It is limited to a section on their website containing approximately six pages of static textual material. However, the real interesting content comes from their blog which details market analysis on a daily basis, it is all well-produced, informative material which should be useful to every trader.
Bonuses and Promotions
Several bonuses and promotions were on offer at the time of writing. A 15% deposit bonus is offered within 3 months of the initial account opening, on all deposits, capped at a maximum of $15,000 per client. The bonus cannot be exchanged for cash and is withdrawable at the rate of $100 per 50 lots traded round trip. There is another bonus offered on all accounts except the Pure ECN Pro account, called the 100% Super Bonus, which cannot be taken in conjunction with the aforementioned bonuses.. There is also the Top Up Bonus and the New Account Opening Bonus available to new and returning clients.
Depositing funds into a Multibank Exchange Group account is an easy and secure process. Funding can be done using a wide range of methods, including credit cards, debit cards, Neteller, Skrill, FasaPay, UnionPay and wire transfers. Withdrawals can be made over the website.
The Multibank Exchange Group does not impose any minimums requirements on deposits or withdrawals, but the channels themselves may do so.
Customer support is based in all over the world, with dedicated telephone lines for each of 23 countries, offering business hours support in native language.
The Multibank Exchange Group has a well-rounded and professional offering for traders looking to trade a wide range of assets, particularly Forex currency pairs and global equity indices. Fans of fixed spread trading and traders looking for a choice of NDD and DD type accounts will find their offer especially interesting, and quite possibly attractive enough to open an account.
Perhaps most importantly of all, spreads offered seem to be truly competitive.
- Competitive Spreads
- Very Wide Selection of Indices
- Little Educational Content
- Scalping Restricted
Review info: MultiBank Exchange Group
Review Date: 2017-12-13
Rating : 4
Reviewed By : Sara Patterson (Google+)