Though processes may vary depending on the MultiBank Group entity that holds your account, withdrawals typically require a withdrawal request form. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. 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.
MultiBank Group is very reliable
Read our full explanation and accounting of our research and testing process to learn more about how we test. The account opening process at MultiBank Group is relatively straightforward. Resources and applications for opening an account can be found within the client portal on the MultiBank Group website under the My MultiBank limefx scammers section. Yes, based on your detected country of NL, you can open an account with this broker. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
World’s #1 Broker
That said, this broker still has a long way to go if it wants to compete with the best brokers for education. MultiBank Group offers both the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms developed by MetaQuotes Software Corp, in addition to its recently launched proprietary MultiBank-Plus mobile app, available for iOS and Android devices. The same funding options available for deposits can be used to withdraw funds at MultiBank.
Timely response
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). 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.
And while we don’t review forex broker bonus offerings, it’s worth noting that the bonus offer by MultiBank is only available on its Pro and Standard accounts, and not on its ECN account (which has lower spreads). 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. 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. Generative AI tools are not a part of our content creation or product testing processes.
My current balance on App cannot…
To learn more about using MT4 or MT5 on your mobile device, read our MetaTrader guide or our MetaTrader 5 guide.
- Some of the other important research categories that are factored into our testing include mobile trading accessibility and capability, availability of market research and educational content, and each broker’s overall Trust Score.
- Read our full explanation and accounting of our research and testing process to learn more about how we test.
- 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.
- Yes, deposit bonuses offered by MultiBank Group are legit, but that doesn’t necessarily mean you’ll be able to redeem them.
- Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews.
- Research and education at MultiBank Group brands have a long way to go to catch up to industry leaders, but the broker continues to make progress in other categories.
It goes against our guidelines to offer incentives for reviews. We also ensure all reviews are published without moderation. Live Chat Support works well,responsive and polite agents! I haven’t experience yet the Deposit and Withdrawal method and the trading if there is a swap.i will rate you again after you meet my satisfaction. Select one or more of these brokers to compare against MultiBank.
Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers.com. 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. I think it is due to high volume of traders because of Inflation News.
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. ForexBrokers.com https://limefx.club/ has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. There is a very high degree of risk involved in trading securities.
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 minimum deposit requirement for opening a Standard Account at MultiBank Group is $50, whereas the Pro account requires $1,000, and you’ll need to deposit $10,000 to get started with the broker’s ECN account. Keep in mind that the minimum deposit requirement might vary depending on your country of residence and the MultiBank Group entity that holds your account. Yes, MultiBank Group is regulated across its various global entities. MultiBank Group holds multiple broker licenses in a variety of jurisdictions, including from Tier-1 regulatory bodies such as the Australian Securities & Investment Commission (ASIC) and the Monetary Authority of Singapore (MAS).
Some of the other important research categories that are factored into our testing include mobile trading accessibility and capability, availability of market research and educational content, and each broker’s overall Trust Score. 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. For example, if you deposit $1,000 of trading funds to receive a $200 promotional deposit bonus, the volume requirement to redeem the bonus would be 80 standard lots – or 8,000,000 units of currency. When trading at that volume, you can easily end up earning (or losing) far more than the initial deposit bonus amount. The spread you’d end up paying to trade eight million units of currency will end up being greater than the deposit bonus.
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). MultiBank Group was founded in 2005 and today employs over 600 staff globally. According to MultiBank Group’s website, the broker is well-capitalized with over $322 million in paid-up capital. We use dedicated people and clever technology to safeguard our platform. Companies can ask for reviews via automatic invitations. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews.
Tailored accounts that will help enhance your trading experience . Educational content at MultiBank is limited to a series of basic videos and ebooks powered by MTE Media, which are available on a new dedicated education section on the broker’s website. I was pleased to see this new educational portal, and I’m looking forward to seeing more content from MultiBank.
Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. In 2024, MultiBank launched a proprietary mobile trading app called MultiBank-Plus. This mobile platform offers charting, watchlists, and research articles all wrapped in a modern-looking interface with smooth navigation. Like its web counterpart, the MultiBank-Plus app could use more tools and functionalities and fewer messages that feel like ad placements.
The Standard account requires just a $50 minimum deposit, but comes with higher relative spreads. In my opinion, MultiBank’s Standard account is 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. MultiBank Group offers forex, CFDs, and underlying cryptocurrencies across its relevant brand entities around the world.
Though this new app has a long way to go before it competes with the best mobile trading apps, it has a good foundation to build upon and I look forward to seeing how the app progresses. 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. On the negative side, the broker’s market research offering is unimpressive and educational content is minimal although shows signs of progress; MultiBank’s poor performance in these important categories drags down its Overall rating.
