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. 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 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).

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. Overall, MultiBank is a solid choice for anyone who wants a broker with longevity limefx broker reviews in the industry, multiple account options, and VPS hosting. MultiBank has over twenty-five global locations, and it is one of the largest, most-regulated derivatives companies in the world.

Is MultiBank’s 20% deposit bonus legit?

• He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years.
• 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.
• CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
• He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.
• 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.

ECN Pro requires a minimum deposit of $5,000, while MultiBank Pro requires a minimum account size of $1,000. At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here). 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.

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). 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. The same funding options available for deposits can be used to withdraw funds at MultiBank.

Mobile Trading Apps

Though this broker is not cut out for total newbies, traders of most other experience levels will find MultiBank to be top-notch. 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.

Deposit options

• Overall, MultiBank is a solid choice for anyone who wants a broker with longevity in the industry, multiple account options, and VPS hosting.
• 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.
• The spread you’d end up paying to trade eight million units of currency will end up being greater than the deposit bonus.
• MultiBank Group offers forex, CFDs, and underlying cryptocurrencies across its relevant brand entities around the world.
• The Pro account requires a $1,000 minimum deposit but features lower spreads than the Standard account.
• Traders who act as Signal Providers can scale their income, earning extra money when investors copy their account and trading moves.
• Resources and applications for opening an account can be found within the client portal on the MultiBank Group website under the My MultiBank section.

Your commissions will vary based on the type of account you choose, but the fees are reasonable. The main accounts at MultiBank include ECN Pro, MultiBank Pro, Maximus, and MT5. Features like Social Trading allow traders to “invest smarter.” You can copy the trades of profitable, consistent traders. Traders who act as Signal Providers can scale their income, earning extra money when investors copy their account and trading moves. Social Trading indicates that this broker works with both sides of the spectrum, experienced and new(ish).

Trade with the world’s #1 broker

Its total trade volume is 1.87 trillion and counting, and it has become a sponsor for companies like BMW. The broker clearly has a lot of longevity in the industry, as well as a solid reputation. 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.

The VPS lets customers run terminals 24/7, experiencing “stable, reliable” trade conditions that let them trade remotely from anywhere. The VPS is compatible with all operating systems, and you don’t have to install the MetaTrader 4 terminal to get it to work. There is a high data rate exchange between the main and remote servers, so the VPS is fast and smooth. MultiBank Group has 80,000 clients and places millions of trades per year.

Regulated

Third is the Maximus account, which requires a minimum account size of $50. MultiBank Pro bills this as its “no frills” account, and the Maximus also uses the MT4 platform. Islamic traders also need not feel left out, as there are Islamic Account options for those who follow the Muslim faith. The Islamic limefx broker reviews Account at MultiBank allows Muslim traders to waive swap fees. In conclusion, though MultiBank might not work for complete novices, it is still a wide-ranging broker, able to fit with most experience levels.

There are several features offered at MultiBank that clue you in as to this broker’s target customers. At MultiBank Group, the educational tools are light, so complete novices might find it a little difficult to get going. However, that’s not to say that you need to be a seasoned pro to join this broker. 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. ForexBrokers.com has been reviewing online forex brokers for over eight years, and our reviews are the most cited in the industry.

Additionally, the customer service offered at this broker is impressive. You can also contact this broker via email, live chat, or video conference, in addition to the dozens of phone numbers offered. There is a request form on the Contact Page of MultiBank’s main website. 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.