Most traders will be able to satisfy this step by sending a copy of their ID and one proof of residency document. MultiBank Group levies a $60 Worldtradex forex brokers reviews monthly inactive fee after three months, which active traders will never face. I find it a bit too much and too early compared to the industry average, but it should not be a deal breaker as almost any trader is going to make at least one trade in three months.
What is the minimum deposit at MultiBank Group?
MultiBank Group’s wide global network of top-tier metal dealers, producers, and industry specialists provides unparalleled experience and seamless trade. It offers affiliate/referral programs/Lucrative IB program, starting with a minimum of 53%. MultiBank Group’s global presence in key financial hubs and recognition through 70+ industry awards further highlights its standing. The platform is designed to serve both novice and professional traders with multilingual support, comprehensive education, and a lucrative brokers program for affiliates. For traders preferring desktop solutions, MultiBank Group supports both MT4 and MT5 for Windows and Mac.
- As an extra standout feature, MultiBank Group offers a 20% deposit bonus.
- Advanced topics such as ECN trading and market analysis are also included, catering to more experienced traders.
- MultiBank Group offers fair and transparent pricing across all account types by providing reasonable spreads and fee structures suited to each trader category’s demands.
- Both the platforms are user-friendly and offer a wide range of features and tools for forex trading.
The best offer is available in the commission-based ECN account, where traders enjoy raw spreads of 0 pips for a commission of $3.00 per round trip. The cost also applies to commodities, but index and equity CFD trading are commission-free. I like the choice of trading instruments at MultiBank Group, ideal for all types of traders. It offers MAM/PAMM managers the necessary tools to provide effective asset management. Social traders also have access to the broadest market exposure, granting signal providers the diversity they need to stand out from the crowd, an invaluable asset.
The flexibility of the MT4/MT5 demo account option can create trading conditions as close as possible to live accounts, but no demo can substitute the experience and emotions of live trading. MultiBank Group offers its Standard account for a minimum deposit of only $50. Pro is available from $1,000, a high demand, but it cuts trading fees by almost 50%. The best trading conditions exist in the ECN option, but traders must commit $5,000, which may be high for some. MultiBank Group offers commission-free Forex mark-ups as low as 0.8 pips or $8.00 per round lot in the Pro account, but the Standard one lists them at 1.5 pips or $15.00. The former is within the upper range of competitive trading costs, but the latter is expensive.
Read our full explanation and accounting of our research and testing process to learn more about how we test. 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. Use our country selector tool to view available brokers in your country. Offering incentives for reviews or asking for them selectively can bias the TrustScore, which goes against our guidelines.
Account Types
All MultiBank Group’s mobile applications allow you to trade with real-time market quotes, advanced charting features, and a wide range of technical analysis tools. In our experience, MultiBank Group is a reputable Forex and CFD broker offering diverse account types and trading instruments. Moreover, the commitment to regulatory compliance and reasonable pricing adds to its popularity. Among the above-mentioned account types, the ECN Pro account offers the tightest spreads, starting from just 0.0 pips. Sadly, this account type comes with a rather large minimum deposit of USD 5,000, making it unattainable for many smaller traders.
- This isn’t something many brokers offer, however it’s worth noting that it’s only available on Pro and Standard accounts.
- Expert advisors can help you trade with more accuracy and at a faster speed.
- Yes, MultiBank Group imposes an inactivity fee of $60 per month for accounts that have been inactive for 90 days or more.
- This mobile platform offers charting, watchlists, and research articles all wrapped in a modern-looking interface with smooth navigation.
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Fund security is further reinforced by a $1,000,000 Excess Loss Insurance policy through Lloyd’s of London for MEX Atlantic clients. Steven Hatzakis is the Global Director of Online Broker 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.
Traders must also select their desired trading platform and account tier. Within less than a minute, a MultiBank Group representative will call. This was an extra thing compared to many brokers, but on the other hand it is always reassuring to see your broker taking extra care over security and this is what MultiBank Group is doing here. MultiBank Group offer a choice of 55+ currency pairs, 5 cryptocurrency pairs, 6 commodities, 6 index CFDs, 15,000+ equity CFDs, and 13 index futures. Forex traders get an averagely ranged choice of trading instruments, while equity traders get one of the best in the industry.
Fees, Spreads, and Commission
It requires a $1,000 minimum deposit and offers tighter spreads from 0.8 pips, also with zero commission. For seasoned professionals, the ECN Account provides raw spreads from 0.0 pips, instant execution, and access to the full ECN model. All account types come with access to MT4, MT5, MultiBank.io, and MultiBank-Plus platforms, social trading tools, free VPS hosting, 24/7 technical support, and multilingual customer service. In addition, MultiBank Group provides demo accounts, Islamic accounts, and options tailored for both beginners and professionals. MultiBank Group positions itself as a globally trusted broker with institutional-grade safety, diverse trading instruments, and powerful platforms. Regulated across five continents and backed by a paid-up capital of over $322 million, it provides a secure and transparent environment for both new and professional traders.
MultiBank Group Demo Account
VIP account holders enjoy tight pricing and increased trading efficiency with spreads as low as 0.0 pips. Pro account members have spreads at 0.8 pips, while standard account holders have competitive spreads at 1.5 pips, making trading accessible to all skill levels. MultiBank Trader 5 provides diverse financial instruments, including over 150 Crypto CFDs and 1,000+ shares, with 21 time periods and 38 built-in MT5 analytical indicators. It supports netting, order types, and customizable charting, enabling efficient holding management. MT5 is a trading platform designed to meet the growing needs of brokers and traders. Furthermore, the company uses advanced technology to prevent illegal access, abuse, loss, or alteration of personal information.
MultiBank Group offers a suite of trading platforms tailored to meet the needs of traders at every level. Users can access the popular MetaTrader 4 (MT4), MetaTrader 5 (MT5), Multibank.io, and the proprietary MultiBank-Plus platform. These platforms support advanced charting, instant execution, and seamless integration across devices. 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.
The spreads at MultiBank Group are very competitive, and you can get the best deals on your trades. The withdrawal options at MultiBank Group include wire transfer, credit/debit card, and e-wallets such as Neteller and Skrill. Check MultiBank Group’s website for the withdrawal option available in your country. MultiBank Group offers its clients FIX API (Financial Information Exchange Application Programming Interface). The advantage of using FIX API is that it allows you to trade with more accuracy and faster speed. The broker has not mentioned anything about the minimum withdrawal amount.
To improve services in this area, a wider range of resources could be introduced. This is available 24/7 through various means, including live chat, email, phone, and social media. However, some users do state that waiting times have been a little too long in the past. It’s important to remember that these are a limited number of comments, and to keep everything in a balanced view. Trading precious metals such as gold and silver will help you diversify your portfolio and open up new trading options.