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Overall Score
4.5 /5

Pros

  • 20k+ Assets Offering and 55+ Forex Pairs
  • Top Tier Regulations
  • Free VPS and MAM accounts
  • ECN Trading with 5 levels of market depth

Cons

  • No real Stocks
  • High Inactivity Fee
  • Basic Research and Educational Materials
Visit MultiBank
  • Main Regulators: FCA, ASIC, SCA, BaFIN, CySEC, MAS
  • Crypto: Yes
  • Minimum Deposit: $50
  • Average Trading Cost EUR/USD: 0.8pips
  • Withdrawal Fee: $0
  • Account Opening: 1 Day
Year Established
2005
Headquarters
United Arab Emirates
Traded Assets
20k+
Options
Crypto
Trading Fees
Low
Trading Platforms
MT4, MT5, Prop platforms
Islamic Account
Demo Account
Funding Methods
Bank wire, credit cards, e-wallets, crypto
Tiers 1 Regulators
Tiers 2 Regulators
Negative Balance Protection

Products

Overall Score
4.4 /5
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Pros

  • Wide Selection of CFD assets
  • 55+ Forex Pairs
  • Leverage up to 500:1
  • Low Trading Fees

Cons

  • No real Stocks

Asset Selection and Leverage

At MultiBank, traders have access to a diverse range of assets, including forex, commodities, indices, stocks, and cryptocurrencies.
With a wide array of trading instruments available, traders can diversify their portfolios and capitalize on various market opportunities. 

MultiBank stands as an excellent choice for equity traders, offering over 20k stocks' CFDs and competitive trading conditions.

 
Availability
Maximum Leverage
Forex
500:1
Crypto
50:1
Stocks
20:1
Equity Indices
100:1
Precious Metals
500:1
Other Commodities
100:1
Bonds
ETFs
Real Stocks
Real Bonds
Options
Thematic Indices
Synthetics

 

Traders at MultiBank Group benefit from a maximum leverage of 500:1, complemented by negative balance protection, which is essential for traders using leverage.
However, it's important to note that maximum leverage may vary depending on the regulatory environment of MultiBank Group's subsidiaries.

 

Trading Fees

MultiBank Group provides commission-free Forex trading with mark-ups as low as 0.8 pips or $8.00 per round lot in the Pro account, while the Standard account lists mark-ups at 1.5 pips or $15.00, which is relatively higher.
For the best trading conditions, the commission-based ECN account offers raw spreads of 0 pips for a commission of $3.00 per round trip.
Additionally, commodities incur the same cost, while index and equity CFD trading are commission-free.

When you look into the aggregate fees, it's crucial to consider swap rates on leveraged overnight positions, which can significantly impact trading costs and should be assessed beforehand.
If a trader tends to keep leveraged positions open for a few days or more, it's worth considering to trade in a swap-free account.

Average Trading Spreads (for Standard Accounts)

EUR/USD
0.8 pips
GBP/USD
0.9 pips
USD/JPY
0.9 pips
Gold
$0.15
Bitcoin
$50
S&P 500 Index
0.9
WTI Crude Oil
$0.03

Platforms

Overall Score
4.2 /5
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Pros

  • Multitude of Trading Platforms
  • MT4/MT5 available
  • Great Mobile Trading app

Cons

  • No two-step login [safety]

Various trading platforms are available for users, accessible via web, desktop, and mobile devices. These platforms include:

Popular External Platforms

The MT4 platform is one of the most popular trading platforms amongst new and established traders.
It offers a comprehensive set of features designed to empower traders with the tools they need to succeed in the dynamic world of financial markets.
From advanced analytical tools to smart trader features and community support, it caters to the diverse needs of traders while providing a seamless trading experience.

 

Key Features:
  • Analytical Tools: The platform boasts a wide array of analytical instruments, including advanced charting capabilities and a diverse range of technical indicators. These tools empower traders to conduct thorough market analysis and make informed trading decisions.
  • Smart Trader Tools: Enhancing functionality, the platform provides smart trader tools such as Expert Advisors (EAs) and a variety of indicators, allowing for automated trading strategies and advanced charting features.
  • Order Types and Execution Options: Traders benefit from the flexibility of various pending order types and execution options, enabling precise control over trade entry and exit points.
  • Community and Customization: Access to a vibrant trading community and thousands of online plug-in tools enriches the trading experience. Additionally, traders have the ability to create custom Expert Advisors using the platform's programming language.

 

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MetaTrader 5 (also known as MT5), is a versatile trading platform, that caters to advanced trading needs, providing access to automated trading systems, technical tools, and copy trading.
Among its notable features are:

  • Diverse Asset Classes: MT5 offers access to a wider range of asset classes, including stocks and commodities, compared to MT4.
  • Advanced Timeframes: MT5 provides additional timeframes for charting, offering more flexibility in analyzing price movements.
  • Enhanced Depth of Market (DOM): MT5 improves the Depth of Market feature, providing a more comprehensive view of market liquidity.
  • Built-in Economic Calendar: MT5 includes a built-in economic calendar, allowing traders to stay updated on key economic events directly from the platform.
  • Advanced Technical Analysis: MT5 introduces more built-in technical indicators and graphical objects for in-depth market analysis.
  • Hedging and Netting: MT5 supports both hedging and netting accounts, offering more flexibility in position management.
  • Improved Strategy Tester: MT5's Strategy Tester offers faster and more efficient backtesting of trading strategies compared to MT4.

 

Key Features
Analytical Tools:

The platform boasts a wide array of analytical instruments, including advanced charting capabilities and a diverse range of technical indicators. These tools empower traders to conduct thorough market analysis and make informed trading decisions.

Smart Trader Tools:

Enhancing functionality, the platform provides smart trader tools such as Expert Advisors (EAs) and a variety of indicators, allowing for automated trading strategies and advanced charting features.

Order Types and Execution Options:

Traders benefit from the flexibility of various pending order types and execution options, enabling precise control over trade entry and exit points.

Community and Customization:

Access to a vibrant trading community and thousands of online plug-in tools enriches the trading experience. Additionally, traders have the ability to create custom Expert Advisors using the platform's programming language.

 

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In-House Platform Offering

MultiBank 4 provides traders with a comprehensive platform equipped with advanced features and tools, ensuring a seamless trading experience across various asset classes.

 

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MultiBank 5 stands out as a revolutionary platform, offering an intuitive interface and innovative tools designed to elevate the trading experience and cater to traders' diverse needs, setting a new standard in the industry.

 

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Accounts

Overall Score
4.6 /5
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Pros

  • Smooth and Fast Account Opening
  • Low Minimum Deposit
  • Islamic Account Available
  • Raw Spread Account available

Cons

  • High Inactivity Fees
  • High Minimum Deposit for ECN and Pro accounts

Account Types

MultiBank provides a range of account types designed to accommodate diverse trading preferences and experience levels, ensuring a personalized trading journey for each user:

Standard Account
A commission-free account that's perfect for new traders looking to start investing.
Standard Accounts offer instant execution and stable spreads.
Pro Account
Suitable for traders looking to take advantage of zero commissions, tight spreads and instant execution.
Islamic Account
Compliant with Sharia principles, offering interest-free trading for Muslim investors.
ECN Account
Best suited for traders looking for raw spreads and instant execution.
Demo Account
Free account to test all available trading platforms before deciding to go live.

Account Opening Process

Getting started with MultiBank is simple and efficient, with accounts typically ready for trading within a day. However, some account types such as Pro and ECN accounts require a high minimum deposit.
Account verification is a mandatory final step. Traders can easily satisfy this requirement by submitting a copy of their ID and proof of residency, facilitating the prompt opening of their new account.

 

Account Base Currencies

The base currencies available on MultiBank include the following:

  • USD
  • EUR
  • GBP
  • AUD
  • CHF
  • NZD
  • CAD

By default, your account will be configured in USD, but you can request a change through customer service. It would have been more convenient if the option to select your preferred account base currency were available during the account opening process. On a positive note, you have the flexibility to open multiple sub-accounts, each with its own base currency.

Why is it important to manage Base Currencies?
Firstly, funding your trading account in the same currency as your bank account helps you avoid conversion fees.
Secondly, trading assets denominated in the same currency as your trading account's base currency eliminates the need for currency conversion fees.

Account Features

MultiBank sets its minimum deposit at $50. That applies for Standard Accounts.
Pro and ECN accounts require $1,000 and $10,000 minimum deposit respectively.

MultiBank applies a heavy $720 inactivity fee after 1 year of inactivity.
It's important for traders to review the terms and conditions of their specific account type to understand the applicable inactivity fee and take necessary actions to avoid it.

Minimum Deposit
$50 [Pro: $1,000 / ECN: $10,000]
Inactivity Fee
Currency Conversion Fee
Broker commissions
No [Commission only for ECN accounts]
Hidden Fees
Negative Balance Protection

Deposit and Withdrawal

Overall Score
4.5 /5
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Pros

  • Multiple Payment Solutions
  • No Deposit Fee
  • Free Withdrawal
  • e-wallets funding available
  • Crypto wallet deposit available

Cons

  • Slow Withdrawal

Deposit and withdrawal at MultiBank are great. You can use many deposit and withdrawal types and both are free of charge.
Third party charges may apply though.
It's always advisable for traders to verify associated costs The MyMultiBank account area securely manages all financial transactions, with MultiBank Group asserting instant processing.

However, the timeframe for clients to receive funds varies and may take several business days (especially if withdrawal amount is greater than $50,000.
Withdrawals can only be processed to accounts under your name, following the general rule of utilizing payment methods aligned with your initial deposit.
This practice is widespread among similar brokers and is mandated by anti-money laundering regulations.

Payment Methods

Bank Transfer
Credit/Debit Cards
Electronic Wallets
Crypto Payments

e-wallets

Neteller
Skrill
Perfect Money
POLI
PayTrust
Payment Asia
GlobePay
ThunderX

Fees and Processing Time

Deposit Fee
Withdrawal Fee
Withdrawal Processing Time
Slow

Trust

Overall Score
4.7 /5
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Pros

  • Top-tier regulations
  • Good TrustPilot Score [4.4]
  • Established since 2005

Cons

  • No Banking License

Founded in 2005, MultiBank boasts a longstanding track record, indicating its resilience through past financial crises and instilling confidence in its stability.
Although not publicly listed and lacking a banking license, it upholds a strong reputation within the financial industry.

With its substantial experience and regulation by esteemed authorities, MultiBank places paramount importance on the safety and trustworthiness of its trading environment for its clientele.

Global Regulations
Registration Country
AUSTRAC
Austria
ASIC
Australia
BaFin
Germany
MAS
Singapore
CySEC
Cyprus
SCA
UAE
TFG
China
BVIFSC
BVI
VFSC
Vanuatu
CIMA
Cayman Islands

Customer Xperience

Overall Score
4.5 /5
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Pros

  • Bonus available
  • Free VPS and MAM accounts
  • Excellent Customer Support

Cons

  • Basic Research and Educational Materials

Education and Research

MultiBank Group does not provide research or educational content, which can often be found online from reliable sources.
While the platform accommodates beginner traders, it lacks proprietary educational resources, which could enhance its offerings.

Nevertheless, this shouldn't be a major deterrent, as there is a wealth of quality educational material freely available on the internet.
It's worth noting that MultiBank does issue weekly newsletters.

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Sweeteners

Bonus
Trading Competitions
Free VPS
FIX API Trading

Customer Support

MultiBank Group offers exceptional customer support around the clock, available in multiple languages.
They provide 23 contact phone numbers, along with support via live chat, video conferencing through Zoom and Microsoft Teams, WhatsApp, and email.

The comprehensive range of customer support options at MultiBank Group is rated as excellent.

FAQs
Well Structured
Support Methods
Web,
Live Chat,
Email,
Phone,
Support Hours
24/7
Multiple Languages
English,
Arabic,
French,
Portuguese,
Spanish,
Russian