It enables users to analyze financial markets, carry out sophisticated deals, and even replicate successful traders’ tactics. Information on the TradersUnion.com website is for informational purposes only and does not constitute any motive or suggestion to visitors to invest money. Moreover, we hereby warn you that trading on the Forex and CFD markets is always a high risk. According to the statistics, 75-89% of customers lose the funds invested and only 11-25% of traders earn a profit. Trading in futures and options carries substantial risk of loss and is not suitable for every investor. I recommend working with MultiBank to everyone, and for novice traders I recommend trading on a demo account until you learn how to trade profitably.
For more seasoned traders, the Pro account steps up the game with more advanced client benefits and trading conditions. This account type provides access to deeper liquidity and faster execution speeds, which are essential for taking advantage of market movements. This includes industry-standard MetaTrader 4 and its updated version, MetaTrader 5. Alongside this, there is also a mobile app which is available on iOS and Android.
Deposit Methods
Most other brokers have a trading cost of 9 USD per lot of EUR/USD traded. These platforms are available on desktop, web, and mobile devices, allowing traders to manage their accounts and execute trades from anywhere, at any time. It covers everything from basic techniques to advanced risk management protocols.
Great broker – great support, trade executions,spread and leverage
Contact us directly for further inquiries about our products and services. The documents required for account verification at MultiBank include a valid ID document such as a copy of your passport, national ID, or driving license. In addition, you will need to provide a Proof of Residence (POR), such as a copy of your utility bill or bank statement, issued in the last 3 months. You can check the document requirements depending on your country on the MultiBank website. You can choose from a wide range of traders whose performance you want to copy. You can also use it to connect with other traders and share your trading ideas and thoughts.
Account types
Yes, MultiBank Group may apply currency conversion fees based on the base currency of the trading account and the exchange rate markup. MultiBank Group offers fair and transparent overnight fees for FX and CFD trading positions determined by interest rate differences, market conditions, and broker overnight finance charges. MT5 is a trading platform designed to meet the growing needs of brokers and traders. Traders can also engage with global indices, commodities, and a selection of precious metals like gold and silver. To safeguard against fraud, MultiBank Group implements strict Know Your Customer (KYC) and Anti Money Laundering (AML) protocols, along with maintaining segregated client accounts. These accounts are kept separate from company funds, offering crucial protection in the event of insolvency.
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 offers Standard, ECN, and Swap-Free (Islamic) accounts, along with a demo account for risk-free practice. This selection covers the needs of most traders, providing both traditional and direct market access options.
Withdrawals with MultiBank Group normally take 3 to 7 business days, depending on the withdrawal method and the recipient’s bank or financial institution’s processing time. Yes, MultiBank Group sets maximum leverage limits to help traders manage risk responsibly, ensuring that excessive leverage is not used. Yes, MultiBank Group imposes an inactivity fee of $60 per month for accounts that have been inactive for 90 days or more. MultiBank Group emphasizes reducing currency conversion costs for traders operating in multiple currencies. MultiBank Group employs advanced security technology and encryption protocols to prevent unauthorized account access.
- MultiBank offers a 20% deposit bonus capped at $40,000, subject to trading conditions.
- The Group provides an excellent opportunity for traders to join and trade via a social network and profit from the knowledge of trading experts.
- FxScouts Group’s primary mission to provide unbiased and objective reviews, commentary, and analysis.
- MultiBank’s huge share CFD range is enhanced by a good selection of Forex pairs, indices, commodities and crypto CFDs.
- The broker processes payments efficiently, with most deposits being instant and withdrawals typically processed within 24 hours.
- Although users can trade over 20,000 CFDs on stocks, commodities, indices, cryptocurrencies, and forex, MultiBank doesn’t offer actual shares, funds, or ETF trading.
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. Joey Shadeck is the Content Strategist and Research Analyst for BrokerNotes.co and 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.
It offers low spreads starting from 0.0 pips, multiple account types, and trading platforms like MT4 and MT5, which are advantageous for experienced traders. However, beginners may find the absence of micro accounts and restrictions on Worldtradex scam scalping limiting. While suitable for those using complex strategies and varied portfolios, MultiBank’s avoidance of platforms outside MT solutions could deter traders seeking more flexibility. With client support available 24/7, it offers robust service but lacks educational materials, posing challenges for novice clients.
These platforms offer exceptional user experience with customizable interfaces, allowing you to tailor the layout to your preferences. Platform compatibility is another strong point, with both platforms running smoothly on desktop, web, and mobile versions. TopBrokers.com will not accept any liability for loss or damage as a result of reliance on the information on this site. Forex pairs, cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.
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. That said, this broker still has a long way to go if it wants to compete with the best brokers for education.
How can I withdraw money from MultiBank?
The Pro Account requires a minimum deposit of $1000 and the ECN Account requires $5000. These are hefty sums and many other brokers ask for around $100 on average. This is available 24/7 through various means, including https://worldtradex.world/ live chat, email, phone, and social media. However, some users do state that waiting times have been a little too long in the past.
The company also uses a stop-out level to control risk, activating it when equity drops below 50% of the needed margin. MultiBank Trader 4 is a top-tier trading platform with advanced features like technical indicators and signals, user-friendly design, and one-click trading. Use MultiBank Group’s training resources and tutorials to improve your trading knowledge and abilities before joining real markets. Furthermore, customers can choose between swap-free and swap-standard accounts, but they must adhere to MultiBank Group’s restrictions while using the Islamic Account. MultiBank Group’s Islamic Account, also known as a “Swap-Free Account,” caters to Islamic traders by eliminating swap charges for overnight holdings. Moreover, this account allows traders to participate in global markets while maintaining religious beliefs.
- I also like the transparency concerning the paid-up capital at MultiBank Group, which stands at $322 million.
- These can be downloaded for free from the App Store and Google Play Store.
- MultiBank Group provides round-the-clock customer support, ensuring traders have assistance whenever they need it.
- The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
Latest MultiBank News
In addition, to comply with the regulations, you will need to go through the KYC (Know Your Customer) process before you can withdraw funds from your account. You will also be required to submit a valid ID document such as your passport, national ID, or driving license. As a well-regulated broker, MultiBank ensures that all Anti-Money Laundering rules and regulations are followed. Both platforms are free to use, all can be downloaded to your PC and all have web versions of the platform. Overall, because of its long history of responsible behaviour, strong international regulation, and wide industry acclaim, we consider Multibank a safe broker for Indians to trade with.
You’re investing with a broker that places your security at the forefront. Their proactive approach in adapting to regulatory changes and their continual investment in technology to protect your interests sets them apart in the financial service industry. Rest assured, your investments are in compliant and capable hands with MultiBank Group. By investing time and effort, we can be sure that we’re making the most of our trading endeavors. For that reason, TopBrokers aims to give honest and balanced reviews on the best brokers around.