MultiBank Group Review: A Comprehensive Review of Services and Offerings

Discover the world of MultiBank, a leading international broker for CFD and forex trading. With top-tier regulation by ASIC in Australia, their seamless account-opening process ensures a swift start. Enjoy a full array of deposit and withdrawal options, fee-free. 

Need assistance? Their customer service is responsive and helpful. However, be aware of the inactivity fee and their focus on FX, CFDs, and cryptocurrencies. Embark on your trading journey with our MultiBank Group review!

Is MultiBank Group Safe?

When it comes to the safety of your money, it’s crucial to evaluate a broker’s credentials. MultiBank Group, founded in 2005, boasts a global team of over 600 devoted professionals. Their website proudly states that the broker maintains substantial financial strength, with $322 million in paid-up capital.

Catering to an impressive clientele of over 320,000 traders, MultiBank Group operates through a network of trusted entities. These include MEX Exchange, regulated by ASIC, MEX Global Markets regulated by MAS, MultiBank FX International regulated by FSC, and MEX Atlantic regulated by CIMA, among other regulated entities in various jurisdictions.

Yet, it’s imperative to note that the FCA has issued a warning advising caution when accessing this particular website. Always ensure you have all the relevant information to make an informed decision.

Exploring the Diverse Investment Options

At MultiBank Group, you can explore so many different investment options. These are CFDs, FX, and underlying crypto coins, through their various brand entities worldwide. With 13,912 tradeable markets, MultiBank opens doors to vast opportunities.

Yet, note that not all of these markets are available when you go to the MultiBank Group login page. By default, only 1,042 markets are accessible on MetaTrader and CTrader platforms. To access the full range of advertised markets, traders must submit manual requests via email. This process can be frustrating. Top-notch brokers typically offer all markets directly on their trading platforms.

Scalping, the practice of quick trades for small profits, is allowed by MultiBank. However, if you plan to use an Expert Advisor (EA) for algorithmic trading, you must give advanced notice per their account terms and conditions. Stay informed and seize MultiBank Group’s investment potential.

Discover the Trading Platforms at MultiBank Group

MultiBank Group includes a variety of platforms. Let’s look at what they have to offer and the key points to consider.

• MetaTrader. Created by MetaQuotes Software Corp, both MT4 and MT5 desktop and web venues are typical offerings. Live account holders can view news headlines from the Dow Jones Newswire.
• CTrader. This one is available for desktop and mobile use at MultiBank Group. While these come with typical features from the developer, the broker provides a range of available markets.
• Social copy trading. They include an in-house copy trading browser platform, MetaTrader Trading Signals (available for MT4 and MT5), and CTrader Copy. For copy trading at MultiBank, it’s wise to use the in-house copy trading platform or MetaTrader Trading Signals. This is because CTrader Copy has limited default strategies. It’s encouraging to see the brand developing this technology.
• Trading tools. MultiBank doesn’t have an extensive trading tool selection. Still, traders can access a few basic options like calculators and VPS hosting from third-party providers. The platform experience on both MetaTrader and CTrader is straightforward without many extra bells and whistles.

Choose your preferred platform wisely to maximize your experience with MultiBank Group. Stay connected and use their mobile apps for seamless trading on the move.

Stay Connected on the Go with Mobile Trading Apps

MultiBank Group includes superb mobile trading apps. This is to ensure you can stay engaged with the markets anytime, anywhere. 

You can access the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms on your Android device. For CTrader enthusiasts, the platform is available on both Android and iOS devices.

Account Types: Choose the Right Account for Your Trading Needs

MultiBank Group has 3 FX and CFD account types: Standard, Pro, and ECN. Let’s explore these options and find the one that suits you best.

The Standard account is suitable for beginners, with a minimum deposit of $50. Yet, keep in mind that it comes with relatively high spreads. In our opinion, unless you’re new to trading, it’s best to steer clear of the Standard account. If you’re looking for tighter spreads, the Pro account might be the right choice. It requires a minimum deposit of $1,000 and includes lower spreads than the Standard account.

For the lowest MultiBank Group spreads, consider the ECN account. With a minimum deposit of $5,000, it offers competitive prices. Yet, it’s a must to note that there is a small round-trip commission of $3 per trade.

Be aware of the non-trading fees charged by MultiBank Group. If your account remains inactive for 90 days without trading activity, a monthly fee of $60 will apply. Keep your account active to avoid this fee. Choose your account type wisely and stay on top of the non-trading fees. This goes without saying. 

General Trading Environment

Creating an environment that attracts and involves traders is crucial for brokers. This is the unwritten rule. Let’s explore their bonuses in detail. We will also evaluate their educational offerings, along with some cautionary points.

Educational Content

MultiBank Group broker provides a series of basic videos and ebooks through MTE Media. This is available in their dedicated education section. While this updated educational portal is a positive step, there is room for improvement. It would be beneficial to see educational content produced by their in-house staff, along with quizzes that track progress. These features can boost the learning experience and match top brokers’ offerings.

20% Deposit Bonus Legitimacy

MultiBank Group does include deposit bonuses. Yet, it’s critical to understand the terms and conditions that come with them. These bonuses often come with significant volume requirements before redemption. Besides, losses incurred during trading can outweigh the bonus amount. Read the fine print and fully comprehend the terms and conditions.

For example, let’s say you receive a $200 deposit bonus after depositing $1,000. In that case, you may need to trade 80 standard lots or 8,000,000 units of currency to redeem the bonus. Trading in such volumes can lead to substantial gains or losses. Take into account the spread costs associated with trading large volumes.

Convenient Ways to Fund Your Account

When depositing funds into your MultiBank Group brokerage account, they offer a range of popular options to choose from. Here are the current deposit options available:

• SEPA transfers
• Visa
• Mastercard
• Skrill
• Neteller
• POLi
• PayTrust
• Awe Pay
• GlobePay
• Bitcoin

Withdrawal Options: Securely Access Your Funds

Just like depositing, withdrawing funds from MultiBank Group is easy with many options. The exact process may differ based on the MultiBank Group entity holding your account. 

Still, withdrawals typically require a request form. Keep that in mind at all times.

Account Opening: Simple Steps to Get Started

Opening an account with this firm is relatively straightforward. You can find the necessary resources and applications within the client portal under the “My MultiBank” section on their website.

To open a live account, you’ll need to provide the required personal information for Know-Your-Customer (KYC) and Anti-Money Laundering (AML) compliance. This includes specifying trading account settings, answering suitability questions, and submitting proof of identity.

While there is room for improvement, MultiBank Group’s client portal meets industry standards. Additional resources for first-time account holders would enhance the overall experience.

Valutrades is another regulated broker known for its trustworthy services and stringent financial regulations.

Multibank Group Customer Reviews

With over 155 reviews on Trustpilot, Multibank Group has earned a star rating of 3.4. Customer experiences may vary. Still, it’s important to approach these reviews with an open mind. Some reviewers have shared positive experiences. These factors have contributed to a sense of trust and satisfaction for several users. 

Yet, it’s worth noting that a few reviewers have expressed concerns, particularly regarding the platform’s functionality and occasional delays in withdrawals. It’s crucial to remember that online reviews can be subjective. To make an informed decision, it’s wise to research and consider multiple sources of feedback. 

Pros and Cons of MultiBank Group: Is It Worth It?

MultiBank Group has a range of advantages and disadvantages that traders should remember. Some of the pros include a smooth account opening process. There is also responsive customer service and a diverse selection of trading options. With a strong reputation and over 155 reviews on Trustpilot, the broker has garnered a decent star rating of 3.4. However, it’s also worthwhile to be aware of a few cons. 

Some users have reported occasional platform functionality issues and withdrawal delays. Like any broker, MultiBank Group has its strengths and areas for improvement. Traders must carefully weigh these factors. 

Note: Amana Capital is a regulated broker known for its commitment to compliance. It also provides a secure trading environment for its clients.

Long Story Short – MultiBank Group

MultiBank Group offers diverse investment options with many tradeable markets. Clients can access MetaTrader and cTrader platforms. They can also use social copy trading and enjoy mobile trading apps. Account opening is straightforward, and funding and withdrawals are convenient. 

The broker provides educational content, deposit bonuses, and various account types. Trustpilot reviews yield a 3.4-star rating, with positive and negative feedback. Pros include a smooth account opening process and responsive customer service. On the flip side, occasional platform issues and withdrawal delays are cons. Consider these factors before choosing MultiBank Group.

To access our exclusive and free best broker advice, we encourage you to reach out to us. Our expert team is ready to assist you in finding the perfect broker tailored to your needs.

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