MultiBank Exchange Group Review (2023)

What is MultiBank Exchange Group?

MultiBank was established in California in 2005 and since then became a large financial world institution that offers its customers direct trading access to banks and exchanges through the advanced trading platforms.

The MultiBank Exchange Group service delivered to over 280,000 retail and institutional customers through over 90 countries, while MultiBank has offices in Sydney, Los Angeles, Vienna, Frankfurt, Madrid, Cyprus and UAE.

Also, the group serves various branches where each maintains its defined task and role, alike MEXFintech located in Hong Kong, while MEX Group Worldwide maintains offices in Hong Kong, MEX Asset Management (Austria) GmbH, Beijing, Tianjin, Hangzhou and Ho Chi Minh City.

MultiBank Exchange Group Pros and Cons

MultiBank Exchange Group Globally recognized financial institution with Sharp adherence to regulation, provides Forex and CFDs trading with great Forex trading capabilities, range of platforms, Fast account opening and No commission deposits and withdrawal options.

For negative points, Proposal vary according to the entity and there is No 24/7 support.

Awards

The company believes that exchange technology is the most certain director of the financial market, thus MultiBank Exchange Group delivers award-winning trading technology, liquidity providing and brokerage services. Eventually, broker and its financial institution that operates like a group is a multiply recognized and awarded company that constantly improves its proposals and gains great rewards for it.

Is MultiBank Exchange Group safe or a scam

MultiBank Exchange Group is one of the recognized and regarded financial institutions that adhere to best practices ad also fully regulated and registered in each jurisdiction it serves clients, thus is not a scam. MultiBank licenses including top-tier ASIC, BaFIN so is considered low-risk Forex and CFD trading.

Is MultiBank Exchange Group legit?

Yes, the MultiBank Exchange Group is legit and heavily regulated worldwide and includes world known and respected authorizations alike – the Australian Securities and Investment Commission (“ASIC”), the Federal Financial Supervisory Authority (“BaFin”) of Germany, along with European cross boarding authorization from CNMV, FMA.

Also, there are offshore registration with the Financial Services Commission (“FSC”) of the British Virgin Islands, the Cayman Islands Monetary Authority (“CIMA”) that in its own does not provide necessary security level, which we would recommend for signing it. Yet, together with other numerous regulations and legal obligations, MultiBank Exchange Group considered as a safe trading broker to invest or trade with.

How are traders protected?

At MultiBank due to its vast regulatory obligations operating in accordance with the settled international rules that are necessary to uphold and offer the highest protection level, so you may remain ensured of its offering.

The utmost level security of funds through the regulated companies of MultiBank Exchange Group provided also worldwide with up to $10 million per account with segregated accounts at first-class banks. Apart from that, the company operated with negative balance protection that secures you from losses even though not every regulation mandate this rule towards the broker.

Leverage

Depending on the particular entity of the MultiBank Exchange Group and its applicable regulatory obligation, you will be offered to use powerful tool leverage with a possibility to magnify your outcome from the trading.

In fact, regulations in a jurisdiction or another apply different rules towards leverage, thus,

• European entities significantly lower allowed leverage to a maximum of 1:30 for major currency pairs
• Australian clients may still use high leverage ratios of up to 1:500
• International traders – 1:500
• Dubai clients (See Best Forex Brokers in Dubai) under RAK UAE regulation may use 1:200
• Professional clients entitled for 1:500

However it is always recommended to learn deeply how to use leverage smartly in order not to fall under unnecessary risks while trading.

Account types

The trading account specifications divided into the offering either to the retail client or to the institutional one, meaning the account is defined only the type of the investor, also offering you Social Trading capabilities.

Further, you will have a choice between offered platforms either Maximus MT4, MultiBank Pro MY4 and ECN Pro MT4, where the conditions and specifically trading costs may diverse one from another.

How to open Account

MultiBank Exchange Group review also shows you steps how to open a digital account which is a quite simple process. You should submit the necessary information and documentation for your identity and walk through the next steps.

1. Follow Open Account link
2. Provide personal data and trading experience to confirm your Live account
3. Verify account through the link on your email and get access to your account area and Demo trading
4. Make the first deposit
5. Access trading and markets

Fees

As for the trading costs, MultiBank Exchange Group mainstays on costs built into the spread only strategy available for Standard account.

ECN Pro MT4 – as a professional account with a maintained balance of 5,000$ offers spreads from 0.1 pips and commission of 3$ per lot with the traded amount of 20,000$, while further the commission is discounted into 2$ per lot. Indeed a quite competitive and good trading option.

Overall, MultiBank Exchange Group costs are range as a low cost trading comparing to industry competition, also you may see more cost examples below and on the snapshot to find the differences between the platforms. Or also compare to other broker like Eightcap.

Spreads

MultiBank trading conditions will vary according to the trading account or platform you will use at MultiBank, thus if you’re trading through Maximus MT4 –  spread averages around 1.4 pips. MultiBank Pro MT4 – as designed mainly for traders with experience and bigger size, since requires a 1,000$ initial deposit it also brings lower costs typically 0.5 pips.

Asset/ Pair	MultiBank Exchange Group Spread	OctaFX Spread	AvaTrade Spread
EUR USD Spread	0.5 pips	0.5 pips	1.3 pips
Crude Oil WTI Spread	2 pips	2 pips	3 pips
Gold Spread	15	20	40

Fees	MultiBank Exchange Group Fees	OctaFX Fees	AvaTrade Fees
Deposti Fee	No	No	No
Withdrawal Fee	No	No	No
Inactivity Fee	Yes	Yes	Yes
Fee ranking	Low	Low	High

Snapshot of MultiBank Exchange Group fees

Trading Instruments

MultiBank trading account will offer you prime liquidity within the strictly regulated framework ensuring your funds are safe, also with availability to trade a variety of instruments including foreign exchange, metals and CFDs with tight pricing.

It means the exchange technology offers you full transparency with quotes from 20 Top Tier Banks, 12 Exchanges and 6 ECNs, while with the rise of blockchain technology and cryptocurrencies MultiBank included this asset into its CFD trading offering.

What Payment Methods MultiBank Exchange Group offer?

MultiBank offers a selection of instant, simple and secure payment options for deposits and withdrawals which remains at your disposal to choose the best-suited one, yet, subject to the regulatory restrictions from the jurisdiction of another. Therefore, the traders that are issued with various Group entities may face some differences in the payment method and its charges if applicable.

Deposit Options

One of the great things is that you can choose your account base currency so that you will avoid unessential charges for conversion. The supported currencies including USD, GBP, EUR, JPY, CHF, AUD, NZD, CAD while general funding options including the following ones, but again make sure method available at your country of origin.

• Bank Wire transfers,
• Credit Card,
• Neteller, Skrill, fasapay, and online-payments

Minimum deposit

MultiBank minimum deposit is 50$, which is a great opportunity for traders despite its size or strategy. However, make sure to check applicable margins for the instrument you are willing to trade, so you cover particular conditions, as well as various technology platforms, may require higher deposits.

HYCM minimum deposit vs other brokers

	HYCM	Most Other Brokers
Minimum Deposit	$100	$500

Withdrawal

Generally, MultiBank Exchange Group does not charge a commission for deposits or withdrawals from its side, however, various jurisdictions its legal conditions of payment providers along with international rules may add on some charges. So you should always verify in case of any fees with the payment provider himself, as well as the customer service of the broker.

How do I withdraw money from MultiBank Exchange Group?

To withdraw the funds from the account you should submit the request online while further the money will be transferred by the selected method.

How long does it take to withdraw money from MultiBank Exchange Group?

Typically broker confirms your withdrawal request within 1-2 business days, yet may vary according to entity conditions.

Trading Platforms

MultiBank platform offers to you technology based on MetaTrader proven powerful capabilities, installed to MT4 and MT5 platforms that enable partial fill with bridge technology, without any requotes rejections or slippage. Using the MT4 engine these platforms run ECN connection with customized capabilities of trading opportunities allowing sophisticated, yet customer-friendly suit to any strategy.

Pros	Cons
Wide range of platforms including MetaTrader5, Maximus, ECN Pro and proprietary MultiBank Pro platform	None
User friendly trading
Price alerts and push notifications
Supporting various languages and trading styles
Web, Mobile and Desktop versions
Trading ideas, social trading, Expert Advisors, APIs, MAM and PAMM trading

Web Platform

Particularly, MultiBank platforms including a wide range of platforms through Maximus Platform, ECN PRO Platfrom and MultiBank Pro Platfrom, while each of them suits the necessary need of the clients they serve and feature ideal choice whenever the type of trader you may be.

So whenever you are scalper, algorithmic or automatic trader, as well using the advanced offering for money managers through PAMM and MAM accounts, all is available and possible with MultiBank Exchange Group platforms.

Desktop trading platform

All platforms available in desktop versions as well, where you will find the necessary tools to manage positions and advanced analysis features. Also, there are various order types maximizing your strategy as well as managing your money at risk.

Generally, the platforms all built on MT4 software and diverse by the account type, which includes and offers tailored to the account pricing and solutions. Yet, the MT5 platform offers all of the various features provided by the MT4 with additional editions, alike improved trading functionalities and enhanced scripting tools for custom indicators and expert advisors.

Mobile Platform

Definitely mobile app is also included into the package, while each platform features its own app with simple to use and packed with a wide range of tools at the same time.

Lastly and in addition to all, together with the award-winning platform capabilities, which MultiBank is famous of, the diversified portfolio includes free VPS and APIs use, as well with no restriction on EAs. In addition, there is a possibility to participate to the Demo Contest and win valuable prizes with no monetary risk, which is definitely a great opportunity.

Customer Support

Moreover, the diversity of the companies provides their customers with multiple support in any case and questioning. The 24h customer service available on 10+ languages with the service desk, on-boarding, configuration and cash management facilities.

Also, Customer Service reachable easily and provide quality answers while available through Live Chat, email, through the contact form and supporting an impressive number of international phone lines, truly covering the globe.

Research

Beginners may count on educational support through learning materials, videos, tutorials and seminars along with organized up-to-date online financial news available in multiple languages designed to support you better decisions and knowledge.

Eventually, MultiBank Education was timely recognized too, so you will find a well-organized learning center also a range of Research tools and materials. There you will find accessibility to Expert Advisors, Signal providers, social trading capabilities where you can learn how to trade and replicate trades and many more.

Conclusion

Overall, the MultiBank Exchange Group review presents a company with a diverse range of established offices and enlarged trading portfolios through the numerous countries, regulations and offerings. In general, a MultiBank Exchange Group broker is a reliable option to almost any trader from mostly anywhere due to their global coverage comprehensive trading proposal and great support they offer. The choice between the accounts suitable for beginning traders or seasoned investors, as well as the competitive trading conditions through the STP processing of orders.