MultiBank Group review and ratings

COMPANY INFORMATION

MultiBank Group includes 6 related companies.

MultiBank AU – located in Australia, regulated by the Australian Securities and Investments Commission (ASIC).
MultiBank AT – located in Austria, regulated by the Financial Market Authority (FMA).
MultiBank DE – located in Germany, regulated by the Bundesanstalt fur Finanzdienstleistungsaufsicht (BaFin).
MultiBank ES – located in Spain, regulated by the Comision Nacional del Mercado de Valores (CNMV).
MultiBank BVI – located in the British Virgin Islands, regulated by the BVI Financial Services Commission (BVIFSC).
MultiBank KY – located in the Cayman Islands, regulated by the Cayman Island Monetary Authority (CIMA).

Be aware, all EU companies have some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.
At the same time, BVI company accepts European traders, so one can open a trading account there.

AVAILABILITY

MultiBank Group accepts clients from all over the world, excluding USA and some countries where restrictions apply.

DISTINCTIVE FEATURES

• Authorised and regulated by government agencies in many regions.
• More than a thousand stocks available for trading.
• Free VPS hosting offered for the clients.
• Tight spreads on major currency pairs.

TRADING INSTRUMENTS

Forex broker offers the following underlying assets for trading.

COMPREHENSIVE REVIEW

MultiBank is a fairly large forex & CFD broker with offices in many countries around the world. As a result, the broker is also regulated in many countries, with the most notable examples being Germany’s BaFin, the Australian Securities and Investments Commission (ASIC), and the Austrian Financial Market Authority (FMA).

MultiBank was set up in the US all the way back in 2005 under the name MultiBank Forex Exchange Corporation. However, the company is today not regulated in the US, and as many other brokers it does not accept US residents as clients.

As opposed to many other popular brokers, MultiBank has a strong focus on stock trading, with stock CFDs from over 1,000 companies available to choose from. In addition, the broker also offers a selection of CFDs based on a few stock indices, cryptocurrencies, and commodities. In terms of forex, MultiBank only offers about 30 currency pairs, which is certainly less than many other major brokers.

Unlike other large brokerages, however, MultiBank does not offer trading in ETFs, interest rates, and bonds.

When it comes to trading platforms, MultiBank has chosen to focus exclusively on the MetaTrader family, offering both the MT4, MT5, as well as the web-based version of the platform. Although MultiBank uses names like “ECN Pro,” “MultiBank Pro,” and “Maximus” for their trading platforms, these are essentially just different types of trading accounts on the same platform; MetaTrader 4.

Among the above-mentioned account types, the ECN Pro account offers the tightest spreads, starting from just 0.1 pips. Sadly, this account type comes with a rather large minimum deposit of USD 5,000, making it unattainable for many smaller traders.

Some of these traders may instead choose to go for the MultiBank Pro account, which requires a more reasonable minimum deposit of USD 1,000. For this account type, spreads start from 0.8 pips.

For beginners, the Maximus account may be the right place to start. Here, spreads start from 1.4 pips, and the minimum deposit is set to just USD 50.

In addition to the three main account types, MultiBank also offers a swap-free Islamic account for Muslim traders, as well as a demo account for paper trading.

All account types come with negative balance protection, as has become standard within the European Union and some other regions of the world. In addition, high leverage of up to 1:500 is available for traders who sign up with one of the entities of MultiBank that are regulated outside the EU. For the EU-based entities in Germany, Austria, and Spain, however, maximum trading leverage is just 1:30, in accordance with the new regulations from the European Securities and Markets Authority (ESMA).

MultiBank’s customer support can be reached via local phone numbers in nearly all countries that the broker serve, including most European countries, many countries in Asia and the Middle East, the US, South Africa, and some countries in South America. Alternatively, new and existing clients can contact the broker via email or live chat.

As is expected from all major forex brokers, MultiBank’s customer support is open 24 hours a day on all trading days.