Is It Legit or Scam?

Established in 2005, the MultiBank Group has evolved into a popular financial derivatives company offering a wide variety of products, including forex, stock, CFDs, indices, cryptocurrencies, and commodities. The MultiBank Group website features MT4 and MT5 trading platforms along with Web traders and social trading features catering to a wide variety of investors and traders. In this MultiBank Group review, we will discuss the main features, regulations, pros and cons, products, trade platforms, account opening process, leverage, fees, bonuses, and many more features of the MultiBank Group. If you are wondering if MultiBank is the right solution for you, you are at the right place!

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The MultiBank Group maintains a trustworthy and secure environment as the platforms are regulated by more than 10 regulatory bodies around the world, making the platforms as transparent as possible. There are mainly three account types across global entities for trading CFDs and forex, including Standard, Pro, and ECN. MultiBank customers can also use demo trading to experiment with the platform without real money investments. 

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MultiBank Group is an award-winning forex broker operated by the MEX Group worldwide. It has received several accolades, including the Best Forex Trading Platform (MENA 2020), Best MT4 Execution Broker (The Forex Expo Dubai), Best Financial Derivatives Provider in Asia and Europe (Global Brands Magazine 2020, and more. 

The MultiBank Group is regulated by more than 10 financial regulators across 5 continents, which makes it one of the industry’s most heavily regulated trading platforms in the industry. It offers maximum leverage of up to 500:1, along with a variety of trading bonuses and other offers. 

The MultiBank Group offers a minimum spread of 0.0 pips on Forex and CFD trading, which makes the platform suitable for seasoned traders. At the time of writing this review of MultiBank Group, we get to know that it has more than 1,000,000 clients offering more than 20,000 trading instruments and 30,000 introducing brokers across 20 offices and branches worldwide.

Why Choose MultiBank Group?

Ever since the inception of the MultiBank Group, the forex broker and trading platform have successfully stamped its authority in the trading world. In addition to this, the MultiBank Group has shaped and pioneered the forex industry. It continues to create excellent services, products, and platforms along with other exceptional features mentioned below:-

Lucrative Brokers Program

The MultiBank Group collaborates with partners and professionals to bring them the Introducing Brokers Program that provides them with rebates and commission structures that are completely unheard of in the industry. 

Funds Withdrawal Within 24 Hours

Withdrawal of funds at MultiBank Group is both easy and accessible to benefit the platform’s active traders and investors. 

Cutting-edge Trading Platforms

The MultiBank Group offers state-of-the-art forex trading platforms specially developed and designed to offer stability and allow real-time trading. 

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State-of-the-Art Products

Both beginners and professional traders can trade more than 20,000 instruments, including forex, shares, indices, metals, commodities, and even cryptocurrencies. 

Instant and Stable Nano-second Execution

The MultiBank trading platform offers zero commission trading, negative balance protection, no rejection, no records, and no restrictions on Expert Advisors (EA). 

Superior Financial Services

The customer support offered by MultiBank is proficient and multilingual, offering services 24×7 via different platforms.

Record-breaking Financial Performance

MultiBank had a turnover of more than $5 trillion in 2020 which shows the platform’s record-breaking financial performance, instilling confidence and trust in many traders. 

Global Presence in Leading Financial Hubs

MultiBank offers its services to an international demographic of traders in partnership with affiliates from more than 20 offices within the world’s financial centers. 

Security of Funds

Many seasoned traders recommend MultiBank for offering secure trading platforms that are heavily regulated and uphold stringent rules, thereby offering its clients the highest degree of funds security to its clients. 

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Heavily Regulated Across 5 Continents

MultiBank Group offers one of the safest trading platforms closely supervised by more than 10 financial regulators around the world across multiple jurisdictions that guarantee protection to investors and traders. It is regulated by AUSTRAC, BAFIN, ASIC, CIMA, ESCA, FMA, MAS, FSC, VFSC, and TFG.

Paid-up Capital of Over $322 Million

The MultiBank Group is globally recognized as one of the most popular trading platforms and largest online financial derivatives providers due to its accumulated paid-up capital of more than $322 million.

Full ECN Model With Spreads Starting From 0.0* Pips

MultiBank offers a full ECN model with tight spreads by following a non-dealing desk ECN trade structure that gives direct access to more than 20 interbank trading prices with no conflict of interest. 

The Highest Level of Leverage Up to 500:1

With one of the highest degrees of leverage in the trading market, going up to 500:1, MultiBank helps traders multiply their gains across forex, commodities, metals, shares, indices, and cryptocurrency.

Awards

The MultiBank Group has won multiple awards from distinguished media organizations, financial institutions, and publications. The first-ever tag earned by MultiBank is the Best Forex Trading Platform 2011 by Hexun; the most recent award is the Chairman Of The Year 2023 by Le Fonti Awards Dubai.

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Is MultiBank Regulated?

MultiBank is highly regulated by more than 10 financial regulators across 5 continents, ensuring full transparency and security of client funds. The regulators include:-

• ASIC (Australian Securities and Investments Commission) 
• AUSTRAC (Australian Transaction Reports and Analysis Center) 
• BaFIN (the German Federal Financial Supervisory Authority)
• CIMA (the Cayman Islands Monetary Authority) 
• ESCA (the UAE Securities and Commodities Authority)
• FSC (Financial Services Commission)
• FMA (Financial Markets Authority)
• MAS (Monetary Authority of Singapore)
• TFG (Tianjin Financial Government)
• VFSC (Vanuatu Financial Services Commission)

MultiBank Group Review: Pros and Cons 

MultiBank Group Products

MultiBank offers a wide variety of trading instruments, including 20,000 financial products across forex, shares, metals, indices, commodities, and cryptocurrencies.

Forex

Traders at MultiBank Group can trade over 55 forex currency pairs, with tight spreads starting from 0.0 pips. The maximum leverage that users can get in the MultiBank forex market is 500:1, which makes a difference to the affordability of trades by increasing the purchasing power of the traders. MultiBank supports major, minor, and exotic currency pairs, such as AUD/USD, GBP/USD, USD/CAD, JPY/NZD, USD/CHF, and many more. Traders need to create either a MultiBank PRO account, ECN account, or basic Standard account to trade forex on the MultiBank platform.

Metals

Traders can diversify their portfolio on MultiBank Group by trading different metals such as silver and gold. They can explore new trading opportunities and enjoy smooth trading with spreads of 2 cents and 1 cent, respectively, for gold and silver, and maximum leverage of up to 500:1.

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Shares

Buying and selling company shares on the MultiBank trading platform has become easier than ever before with more than 20,000 equities of large multinational companies listed on leading stock exchanges with low margins of 5%. The maximum leverage for stocks CFDs is 20:1. The popular shares listed on the MultiBank platform include Facebook, Amazon, Netflix, Apple, Toyota, Renault, Volkswagen, and Ford Motor. Traders can also use swap-free retail investor accounts to buy and sell popular company shares.

Indices

The MultiBank trading platform offers instant access to trade major indices from around the world with the lowest spreads in the market and a maximum leverage of 100:1. The most popular indices include Germany 30 index, NASDAQ, German DAX index, Euro Stoxx 50, Singapore Blue Chip, and US Wall Street 30 index. Traders can also use a swap-free trading account while trading indices on MultiBank.

Cryptocurrencies

MultiBank recently launched crypto trading on its platform, allowing traders to trade the most popular digital assets, including Bitcoin, Ethereum, Bitcoin Cash, Dogecoin, Polkadot, Chainlink, Litecoin, Stellar, EOS, Cardano, and Ripple. Traders can take full advantage of the volatile market with considerable price shifts suitable for experienced traders with an aggressive trade approach. The maximum leverage in cryptocurrencies is up to 1:50, and trade executions are made in less than 20ms.

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Commodities

Trading commodities is also possible on MultiBank with a swap-free trading account, low margin on all commodities, and tight spreads at zero commission. The most popular commodities traded on the MultiBank trading platform include cocoa, coffee, corn, soy, US Spot, and UK Spot. Traders can diversify their portfolios and capitalize on demand and supply trends to generate strong returns on their investments.

MultiBank Group Trading Platforms 

MultiBank Group’s cutting-edge trade platforms offer ground-breaking reliability and stability. It includes award-winning MT4 and MT5 platforms, a Web platform, and social trading platforms. 

MT4 Platform

MetaTrader 4 or MT4 is an award-winning trading platform that offers top analytical technologies and extensive features allowing traders to analyze trading strategies, execute advanced trade operations, perform copy trading of successful traders, and many more. The MT4 platform features:-

• Market order execution
• Market depth of current price quotes
• Send notifications to track relevant market events
• Over 80 analytical tools and technical analysis indicators
• Powerful algorithmic trading with MQL5 development environment 
• Supports social trading and full EA functionalities 
• 50% stop out level 
• Superior fundamental analytical tools such as economic calendar and financial news

MT5 Platform

MetaTrader 5 or the MT5 trading platform meets the growing needs of forex brokers and investors by offering various features offered by MT4 along with additional functions like enhanced scripting tools and improved trading functions for expert advisors and custom indicators. 

With a Metatrader 5 trading account with MultiBank, traders can get access to many benefits, including maximum leverage of up to 1:500, advanced trading indicators, social trading, copy trading, trade complex instruments, such as forex, metals, shares, indices, commodities, and cryptocurrencies, and 24×7 technical support. It provides over 80 technical indicators and analytical tools to help traders on their trading journey. Note that traders cannot use an existing MT4 account at MultiBank to trade CFDs and forex on MT5. A new trading account with MultiBank needs to be created to enjoy MT5 trading features.

Web Trader MT4

Users can access the Web Trader MT4 platform at MultiBank by logging into their accounts. Trading forex using Web Trader can be done from any operating system and browser without any additional software. It offers all the advantages of the native solution and ensures high compatibility and reliability with the overall MT4 ecosystem.

Web Trader MT5

Web Trader MT5 on the MultiBank platform allows forex and CFD trading in the most secure manner. MultiBank users can utilize all types of trade operations, more than 30 indicators, 24 graphical objects for technical analysis, different chart types and time frames with real-time quotes in Market Watch, and many more.

Social Trading

The social trading feature at MultiBank allows traders to invest smartly. Social trading, also known as copy trading, allows traders to copy the trading strategy of a profitable, consistent, and active trader. The experienced trader may act as signal providers and earn additional income when any trader copies their trading moves and account at MultiBank. Social trading is highly beneficial for both parties involved. 

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Beginners mimic the trades of skilled traders, learn how to trade, and benefit from their success, whereas experienced traders earn additional revenue by having more followers on their platform, who replicate their trading strategy. MultiBank features top traders on its platform based on their risk appetite and capital. The advantages of copy trading with MultiBank are manifold:-

• Learning While Trading
• Saving Time
• Diversification of Investment Portfolio
• Building a Social Community 
• Transparency

Tools offered by MultiBank Group

MultiBank offers powerful trading instruments to help traders manage their trades with ease and give them full control, completely free of charge. Here are the MultiBank Group’s trading tools:-

Free VPS Hosting

MultiBank has the best free VPS (Virtual Private Servers) hosting in the market through supplied reliable hosting vendors. With this feature, traders can run their trading terminals 24×7 and experience the most reliable and stable trading conditions.

Expert Advisors

Expert Advisors (EAs) are integrated into the MultiBank MT4 and MT5 platforms without any restriction to perform automated forex trades and orders. The EA trading tool is free of cost. Expert Advisors monitor everything from support and resistance levels and indicators to multiple timeframes to maximize gains. With the help of the sophisticated trading environment offered by MultiBank, the Expert Advisors software detects the best trading patterns. It executes trades based on the instructions given by the traders.

MAM/PAMM

Multi Account Managers (MAM) and Percentage Allocation Management Module (PAMM) are accounts offered by MultiBank Group that allow fund managers to look after multiple accounts using a single MultiBank account without requiring any investment fund. The MAM software offers asset managers and proficient traders the most user-friendly interface to manage multiple trading accounts simultaneously and use flexible trade platforms along with a variety of cutting-edge technologies.

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FIX API

FIX API offered by the MultiBank Group is a unique turnkey solution for high-volume and institutional clients looking for direct access to the financial market. It provides the best trading conditions and prices. FIX (Financial Information Exchange) is a special electronic messaging format widely used by financial institutions like top forex brokers, multi-asset broker firms, exchanges, and other financial companies to foster a smooth flow of real-time data among market participants.

Economic Calendar

Another useful tool offered by MultiBank is the Economic Calendar which covers main economic events, news, and announcements, taking place worldwide that substantially impact the financial markets. All events and news are updated in real-time as soon as any information is released. The Economic Calendar provides general information and is intended for informative purposes only.

Calculators

MultiBank understands the need to offer a wide variety of calculators to guide traders on their forex trading journey. To this end, the platform has introduced 6 trading tools, including a currency converter, Fibonacci calculator, pivot point, stop loss or take profit levels, margin calculator, and pip value calculator.

MultiBank Group Account Opening Process

The registration process at MultiBank is quite straightforward. All applications and resources for creating a live account are available within the MultiBank client portal under My MultiBank. The following steps need to be completed to create a live account with MultiBank:- 

1. Go to the official website of MultiBank Group.
2. Navigate to the Live Account tab available at the top of the landing page. 
3. A registration field will appear on the screen that requires users to fill in their personal information, including name, email, address, phone number, and unique password. 
4. Enter Next to move to the second step.
5. The second registration field requires users to fill in other information like country of residence and select a preferred trading currency from USD, AUD, GBP, EUR, CAD, and CHF. 
6. Users also need to select the expected investment amount in USD from the option and upload a document for identification. 

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Types of MultiBank Group Accounts

The MultiBank Group has multiple account types to suit different needs based on the preferences of the traders. To create a MultiBank account, traders need to choose any one of the following account types (Note that these are not demo accounts).

Standard Account

The Standard account is a commission-free account type suitable for new traders stepping into the world of trading and investments. It offers stable spreads starting from 1.5 pips and a maximum leverage of 500:1. The minimum deposit requirement is $50, and it is available on both MT4 and MT5 platforms.

Pro Account

The MultiBank Pro account type is suitable for traders looking for instant execution, zero commission, and tight spreads starting from 0.8 pips. The maximum leverage that MultiBank Pro account users can get is 500:1 and a minimum deposit requirement of $1000. 

ECN Account

The ECN account offers the lowest spreads, starting from 0.0 pips. It is mostly suitable for high rollers as the minimum deposit requirement is quite high at $5000. The commission charged for an ECN account is $3 per lot for trade for trading forex.

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Demo Account

The MultiBank Group demo account allows users to get familiar with the platform’s features and functions without making any real money deposits. The demo account is available for both MT4 and MT5 trading platforms. Moreover, users need to select any one trading account tier from Standard, Pro, and ECN.

Islamic Account

The MultiBank Group offers an Islamic account, also known as the swap-free account, that does not rollover or swap interest on overnight positions considering the Islamic faith. The rollover or swap rate is an interest charged when traders keep positions open overnight. Every currency pair has a unique swap rate calculated based on 1 standard lot and determined by interbank rates.

MultiBank Group Accounts Comparison

MultiBank Group Leverage & Margin Requirements

The maximum leverage for every product offered by MultiBank Group has been mentioned below:-

• Forex – Up to 500:1 
• Metals – Up to 500:1
• Shares – 20:1 
• Indices – 100:1
• Cryptocurrencies – 50:1

The leverage and margin requirements of MultiBank Group are relatively high compared to other EU-regulated forex brokers that are capped at 30:1. Hence, traders must always be aware of the risks associated with leveraged forex trading.

MultiBank Group Transaction Details

Deposit and Withdrawal Options

Traders at MultiBank FX can deposit funds using a variety of simple, instant, and secure funding methods based on their needs. There are different deposit methods, including instant payments, bank transfers, crypto payments, and SEPA, with variable minimum deposit requirements and charges. For instance, users within the Eurozone can deposit funds using SEPA with a minimum deposit of €250. On the other hand, crypto payments are done instantly using digital wallets that support BTC, USDT, ETH, and more. According to several MultiBank Group reviews, you may have to wait several business days for your payment.

Users can withdraw funds using any one withdrawal method – by submitting a withdrawal request via MultiBank or email. To withdraw money from the MultiBank account, visit My MultiBank and submit the withdrawal request. Users can also send an email to [email protected] The fund withdrawal form available on the official webpage can also be used to withdraw money from MultiBank FX. 

Trading Commissions and Fees

The MultiBank Group has made great efforts to keep trading costs as low as possible. There are no deposit and withdrawal fees, but third-party commissions may apply. Hence, we recommend that traders check the trading costs before joining the platform. MultiBank FX charges swap fees depending on the currency pair chosen by the traders. The platform also charges an inactivity fee of $60 for every inactive month after 90 days. This inactivity fee is quite high compared to the market average. Apart from these non-trading fees, the MultiBank Group makes an excellent platform than other brokers since the trading costs have been kept minimal.

MultiBank Group Bonuses

20% Deposit Bonus

MultiBank FX has come out in the limelight by offering a 20% deposit bonus, allowing traders to claim up to $40,000 by making a minimum deposit of $1000. 

Cashback Program

The cashback program is exclusively designed for traders to earn additional profits on their trades. The cashback amount increases as the trade volumes in forex and metals on the MultiBank platform increase.

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MultiBank Group Partnership Programs

The partnership programs offered by MultiBank FX include:-

Introducing Brokers

The Introducing Brokers (IBs) program on MultiBank FX is exclusively tailored to boost potential returns and grow businesses. Introducing Brokers are individuals who act as agents to introduce new trades to forex brokers like MultiBank FX. The platform caters to more than 30,000 IBs and partners with global leaders in the financial market. 

Franchise Program

Users who join the Franchise program with MultiBank FX enjoy a strong reputation and customer service, increased opportunities for expansion, and gain access to successful business models. 

Prime of Primes

Under the Prime of Primes program, trading platforms at MultiBank FX allow affiliates direct access to leading liquidity providers. They also get to use low-cost and instant Straight Through Processing (STP) of trade orders with the tightest spreads in the market. MultiBank FX also offers individual liquidity pools through FIX API connections. 

CPA Affiliate Program

The CPA affiliate program at MultiBank FX allows users to earn up to $1000 in commission for every referred active trader. They also get access to a variety of high-quality tools and materials to officially promote the platform’s services and products.

MultiBank Group Mobile App Experience

Both MT4 and MT5 trade platforms are available on the MultiBank mobile trading app. The mobile trading platforms are compatible with multiple devices, including Android, iOS, and Windows operating systems, featuring the same functions offered on the desktop version. It also provides a wide range of order types, including stop orders and pending. The interface is easy to use, simple, and intuitive, allowing users to make trades on the go.

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Users can also benefit from various indicators, built-in customer service, customizable charts, and expert advisors for automated trading. Depositing and withdrawing funds is also easy through the mobile trading app. All users need to do is download and install the MultiBank FX mobile apps free of cost from respective app stores.

Educational Resources by MultiBank Group

There are valuable educational resources or courses on the official website. MultiBank Group prioritizes its customers and helps them with informational FAQs, introduction and in-depth courses, and ebooks. Although it has great potential to improve its educational offerings by introducing webinars and newsletters to educate new traders about forex and crypto trading, this is certainly not a deal breaker for someone with plenty of knowledge and experience.

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MultiBank Group Supported Countries 

MultiBank Group caters to an international customer base and holds more than 20 offices in the following countries – UAE(HQ), Austria, Germany, the United Kingdom, the United States of America, Mexico, Cayman Islands, Ireland, Iraq, Malaysia, Australia, Vanuatu, Singapore, Philippines, Hong Kong, China, Turkey, and Cyprus.

MultiBank Group Security Measures

When it comes to the security of clients, MultiBank does not leave any stone unturned. To provide the utmost security of client funds, all MEX clients are covered with an insurance policy under Lloyd’s of London that protects and guarantees funds up to $1 million per trading account. Additionally, other insurance policies ensure the highest degrees of security of client information and funds. MultiBank uses segregated client accounts to give the ultimate investment safety. It also ensures that all capital and funds are stored in tier 1 banks to provide the required peace of mind while trading.

MultiBank Group Customer Support

MultiBank has first-class customer support with friendly and responsive agents ready to assist their clients 24×7 via live chat, email support ([email protected]), phone support, or WhatsApp. Getting in touch with the support team is extremely easy. Navigate to the Support page to choose a convenient method, or use the sidebar to get direct access to the customer support options. All queries are instantly resolved without long waiting hours. 

Moreover, the responses are remarkably efficient. Assistance is provided on a variety of queries covering topics like deposit and withdrawal methods, broker fees, available asset classes, live/demo accounts, trading account settings and pricing, and many more.

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MultiBank Group Review: Conclusion  

MultiBank Group holds multiple awards that make it an impressive foreign exchange broker in various areas that are beneficial for seasoned traders. MultiBank offers various tools like VPS hosting, FIX API, and MAM/PAMM for money managers and professional traders. The heavily regulated MultiBank stacks up against other forex brokers by offering a large selection of trading products, platforms, accounts, and tools so that traders can get all in one place and enjoy one-click trading on the platform. 

MultiBank beats its close competitors when it comes to forex trading costs for major currency pairs, along with tight spreads starting from 0.0 pips. According to this MultiBank Group review, it receives positive views for its groundbreaking past performance and reputation in the market.

Disclaimer: Forex and CFD trading comes with a high risk of losing money rapidly due to leveraged trading. Traders must note that all information presented here does not constitute financial advice. Traders must place trade orders based on trading conditions and individual expertise. 

FAQs

Is MultiBank Group Safe & Legit?

MultiBank Group is a completely safe and legit forex trading platform that is heavily regulated by more than 10 financial regulators around the world, including AUSTRAC, BAFIN, ASIC, CIMA, ESCA, FMA, MAS, FSC, VFSC, and TFG. 

Who is the Owner of MultiBank Group?

The parent company of MultiBank Group is MEX Group Worldwide Limited, owned by Naser Taher.

Is MultiBank Group Regulated in the UAE? 

Yes, MultiBank Group is regulated in the UAE by the Securities and Commodities Authority, a federal financial regulatory body in the United Arab Emirates.

Is MultiBank Group a Bank?

MultiBank Group is an international financial derivatives broker specializing in markets access to instruments like forex, indices, metals, shares, commodities, and cryptocurrencies.

What is the Minimum Deposit for MultiBank Group?

The minimum deposit requirement is $50, $1000, and $5000 for Standard, Pro, and ECN accounts respectively.

Is MultiBank Group Good for Beginners?

The MultiBank Group is suitable for beginners as well as seasoned traders. Three accounts offer industry-average features compared to other brokers. Beginners can use the demo account to familiarize themselves with the platform’s features and functions. After that, they can use the standard live account to start their trading journey with MultiBank.

Does MultiBank Group Offer a Bonus?

Yes, MultiBank offered a 20% deposit bonus and a cashback program.