MultiBank Group Review

Review

MultiBank Group (MultiBank), founded in 2005, is a Forex and CFD broker headquartered in Hong Kong. The company also has offices in the United States, Australia, Germany, Austria, Spain, UAE, China (Beijing, Guangzhou), 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 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, individual stocks, commodities, cryptocurrencies and Forex currency pairs across both major and minor financial markets.  

MultiBank Group

Accounts

There are 3 different account types to choose from at MultiBank Group. The 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 Pro account allows trading with floating spreads starting at a minimum of 0.8 pips under typical market conditions, without commission. The Maximus 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.
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), 1,000 shares, indices (over 72 global indices), commodities (13 different commodities) and cryptocurrencies (5 cryptocurrencies) may be traded with MultiBank Group.

Features

One of the most notable features of the MultiBank 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, Multibank 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 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.

 MultiBank Group

Education

MultiBank 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

We offer the following bonuses for individual clients:

Imperial Bonus

Refer a Friend Bonus

Please see the broker's terms and conditions for more information.

Deposits/Withdrawals

Depositing funds into a MultiBank 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.

MultiBank Group does not impose any minimums requirements on deposits or withdrawals, but the channels themselves may do so.

Customer Support

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.

Conclusion

MultiBank 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.

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Features

In terms of features, the stand-out strengths of this broker’s offerings are:

  • A wide choice of account types, including both market-maker and ECN-type accounts, plus an Islamic account option.
  • A choice to use the most popular trading platform in the industry: Metatrader 4, as well as their own proprietary platform.
  • An unusually wide range of instruments available for trading: all the major and minor Forex currency pairs, as well as several exotics; also, an extremely wide range of global equity indices, plus some commodities, individual equities and cryptocurrencies wrapped as CFDs.
  • Regulated by an industry center (Australia, Germany, Austria, UAE, British Virgin Islands).
  • The market-maker type account can be opened with either fixed or variable spread regimes.

Company Information

  • Broker's Name : MultiBank Group
  • Headquarter : Hong Kong (SAR)
  • Regulation : BaFin, ASIC, FSC, FMA, CNMV, CIMA

Account Information

  • Type of Broker : ECN/STP
  • U.S. Clients Allowed :
  • Minimum Deposit : $50
  • Maximum Leverage : 1:500
  • Commissions / Spreads : Both
  • Account 1 : ECN Pro
  • Account 2 : MultiBank Pro
  • Account 3 : Maximus
  • Demo Account :
  • Islamic Account :
  • Segregated Account :
  • Managed Accounts :
  • Institutional Accounts :
  • Deposit Options :
  • Withdrawal Options :

Instruments Traded

  • ETFs :
  • CFDs :
  • Commodities :
  • Metals :
  • Stocks :
  • Oil :
  • Gold :
  • Binary Options :
  • Indices :

Trading Platforms

  • Type of Platform : MetaTrader 4, Proprietary platform
    • Platform Languages :
      • English
      • Spanish
      • Arabic
      • French
      • Turkish
      • German
      • Japanese
      • Chinese
      • Russian
      • Dutch
      • Greek
      • Malay
    • OS Compatibility :
      • Mac
      • Windows
      • Linux
      • Mobile
      • Web
      • iPhone
      • iPad
  • Trading Signals :
  • Charting Package :
  • Market Analysis :
  • Chart Trading :
  • Automated Trading :
  • Scalping :
  • Hedging :
  • Mobile Alerts :
  • E-mail Alerts :
  • Trailing Stops :
  • Guaranteed Stop Loss :
  • Guaranteed Limit Orders :
  • Guaranteed Execution :
  • One-click Execution :
  • OCO Orders :
  • Interest on Margin :
  • Web-based Trading :
  • Mobile Trading :

Customer Support

    • Website Languages :
      • Spanish
      • Arabic
      • Italian
      • German
      • Japanese
      • Chinese
      • Russian
      • Malay
      • Polish
  • Support Hours : Business Hours
  • E-mail Support :
  • SMS Support :
  • Chat :

Pros and Cons

  • Competitive Spreads
  • Very Wide Selection of Indices
  • Little Educational Content
  • Scalping Restricted

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Platform

MetaTrader4

The MetaTrader 4 is an independent trading platform, developed for trading FX, commodities and other products and is one of the most advanced and easy platforms to use. It remains the gold standard of trading platforms.

In addition to the wide range of markets available to trade, the MT4 platform provides traders with a multilingual interface, instant execution, built in help guides for MT4 and MetaQuotes Language 4, a complete technical analysis package including a wide range of in-built indicators and charting tools, various custom indicators and time periods and more.

Automated trading is also offered through the MetaTrader 4 platform where traders can create and test their automated trading strategies by using the MetaEditor, Strategy Tester and Compiler tools within the MT4 platform.

With this automated trading system clients may create Expert Advisors, software programs enabling traders to constantly monitor the markets. Custom Indicators help traders to predict future price movements by analyzing past and current price information. And the Scripts feature gives traders the opportunity to set up an automatic repetition of specific operations such as closing all positions with a single keystroke.

MetaTrader Mobile

The MetaTrader 4 and platform apps can be used on iPhones, iPads, Multi-Terminal, and all Android devices.

Multibank Exchange Platform

New state-of-the-art cutting edge Exchange being a powerful trading system which creates a new era in online trading.

Banks, exchanges and ECNs are combined and aggregated into one engine to provide the best bid/best offer transparent prices and quality execution in FX, CFDs and Options available on the market directly to the MultiBank Exchange Platform.

 

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User Reviews

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3 User Reviews
Brenda Cecil

Their regulation is high, and the fact that they are based in Australia should be positive for us traders.

Raymond Shaw

I read some of MultiBank Group Reviews and was surprised to read that most people were satisfied with their experience. This forex broker is backed by a huge financial group, which is always a plus and definitely serves their integrity

Chris Colton

MultiBank Group is safe to trade with and seems solid enough to invest in for the long-run. It has been around for over 10 years now, and my experience of trading with them is mostly positive.

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Review info: MultiBank Group
Review Date:
Rating : 4.5
Reviewed By :