MultiBank FX Review and Tutorial 2021

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MultiBank FX Facts & Figures

MultiBank FX is a regulated forex and CFD broker offering sign-up deposit bonuses, tight spreads and MT4 trading.

Awards
• Best FX Service Provider 2020 - International Business Magazine
• Best FX Customer Service 2020 - Forex Awards
• Best Apac Region Broker 2020 - International Financial Awards
• Best Forex & CFD Broker 2019 - Jordan Forex & Expo Awards
• Financial Services Provider of the Year Asia 2019 - Global Brands Magazine
• Best Forex Trading Platform Hong Kong 2018 - International Finance Magazine
Bonus20% deposit bonus
InstrumentsForex, CFDs, indices, shares, commodities, cryptocurrencies
Demo AccountYes
Min. Deposit$50
Pay MethodsCredit Card, Mastercard, Neteller, Perfect Money, Skrill, Swift, Visa, Wire Transfer
Min. Trade0.1 lots
Regulated ByASIC, BaFin, FMA, CNMV, DFSA, FSC, CIMA
MetaTrader 4Yes
MetaTrader 5Yes
cTraderNo
ECN AccountYes
DMA AccountNo
Mobile AppsYes
Auto TradingYes (APIs)
Social TradingYes
Copy TradingYes
Trade SignalsYes
Islamic AccountYes
CFD
Trade contracts for difference across markets with up to 1:500 leverage.
FTSE SpreadNot offered
GBPUSD Spread0.8
Oil Spread0.03
Stocks SpreadVariable
Leverage1:500
Forex

MultiBank FX offers investing in leading major, minor and exotic currency pairs.

GBPUSD Spread0.8
EURUSD Spread0.3
EURGBP Spread0.8
Assets45+
Cryptocurrency

Trade a selection of the top cryptos against the US Dollar with 50% margin.

SpreadFloating
CoinsBTC, LTC, ETH, XRP
Risk Warning – Your capital is at risk

MultiBank FX is an award-winning forex and CFD broker. Our review covers everything from the group’s products and spreads to leverage and deposit options. We also examine the user experience, including the login process and the broker’s customisable trading platforms. Find out whether to open an account with MultiBank FX.

Company Details

MultiBank FX was established in California, USA, in 2005. The group is now an international corporation headquartered in Hong Kong with 25 locations worldwide, including in Dubai, Malaysia, London, Marbella, Germany, Australia, and more. The brokerage caters for over 320,000 customers in 90+ countries across its offices.

MultiBank FX holds licenses with financial regulators across four continents, including with the ASIC, BaFin, FMA, BVI, CNMV, DFSA, FSC, and CIMA.

Trading Platforms

MultiBank FX offers the industry-favourite MetaTrader 4 and MetaTrader 5 platforms. Both can be installed via the download centre on the group’s website. Alternatively, the broker’s web trader solution enables investing from any browser and operating system.

MetaTrader 4

Widely regarded as the leading forex trading platform, the terminal is suitable for traders of all skill levels. The platform was released in 2005. Whilst the interface’s design is outdated, the platform boasts key features including:

MultiBank FX MT4 platform
MultiBank FX MT4 platform

MetaTrader 5

MetaQuotes Software designed MetaTrader 5 as a multi-asset platform for the more experienced trader. Launched in 2010, the solution offers trading in forex, stocks and futures. MT5 promises more advanced trading tools than its predecessor making it a powerful all-round investing solution.

Benefits include:

MultiBank FX MetaTrader 5
MultiBank FX MetaTrader 5

Assets

The MultiBank Group is primarily a CFD and forex broker with over 1,000 tradable instruments available to traders:

It’s worth noting the group doesn’t offer as many forex pairs or crypto coins as other providers. Also, users can’t trade in binary options or spread betting products.

Spreads & Commission

The MultiBank Exchange Group offers competitive trading fees. Zero-pip spreads are available on the ECN Pro solution while spreads start from 0.8 pips on MultiBank Pro and 1.4 pips on Maximus Pro. Commission fees are reasonable at $3 per lot for forex. Typical spreads across major FX pairs:

ECN Pro

MultiBank Pro

Maximus

Leverage Review

MultiBank FX offers leverage up to 1:500 on currencies, 1:200 on commodities and indices, while shares are offered up to 1:20. These are high leverage rates compared to EU-regulated brokers, for example, that cap ratios at 1:30. Traders should always be wary of the risks associated with leveraged trading.

Mobile Trading

Each account is available on the MT4 and MT5 mobile platforms. The apps are easy to use and well-designed. Users benefit from a long list of indicators, expert advisors for automated trading, built-in customer support and customisable charts. Traders can also make deposits and withdrawals through the mobile apps. Head to the respective app store to download the mobile applications free of charge.

MultiBank FX mobile app
MultiBank FX mobile app

Payments

Deposits

The MultiBank Group offers secure deposits processed within 24 hours. The minimum deposit requirement is $50 and traders aren’t charged any fees. The name of the bank account and trading account must match for the deposit to clear. Available deposit methods include:

Withdrawals

Withdrawals are also free of charge and available via the same methods as depositing funds: Head to the MyMultiBank area to request a payment. Alternatively reach out to withdraw@multibankfx.com. Withdrawal times vary depending on the chosen method and size of revenue but may take several working days.

Demo Account

A demo account is offered by MultiBank FX, offering a $100,000 virtual opening balance. The practice account is a great opportunity to trial strategies across multiple markets with zero risk. A short and straightforward registration form is available from the broker’s website. The group’s CEO and chairman have ensured that once signed up, users get demo access to both the MT4 and MT5 platforms.

MultiBank FX Bonuses

When opening a trading account with MultiBank FX, users can choose between various bonuses. A 20% deposit bonus is offered which is 100% withdrawable. An Imperial bonus is available for first-time deposits up to $5,000 once trading targets are met. Additionally, a 100% deposit bonus is available, though requirements are fairly restrictive. For long-term customers, a loyalty bonus up to $3,500 is available.

Regulation Review

The MultiBank Group is regulated by multiple providers including the ASIC, BaFin, FMA, CNMV, DFSA, FSC and CIMA. These are reputable regulators that provide strong safety and security for traders. The broker’s licensing status is a good sign that market prices won’t be manipulated and withdrawals will be respected. The broker is licensed to operate in the Philippines, Mena (UAE) and Vietnam, along with China, Panama and others.

Other features which protect trader funds include negative balance protection, segregated client accounts and a trade line of credit which records all activity associated with an account. Paid-up capital of $320 million and custodial bank facilities further reinforce the reliability of the MultiBank Group. Overall, we’re comfortable the brokerage isn’t running a scam.

Note, the broker is not regulated by the Financial Conduct Authority (FCA) in the UK or the Cyprus Securities & Exchange Commission (CySEC).

Additional Features

MultiBank FX offers a reasonable range of educational materials on their website which will appeal to beginners. There are also market insights and a host of tutorial videos with trading tips on the broker’s YouTube, Facebook, Twitter and Instagram channels.

The firm also offers an attractive copy trading services. Clients can subscribe to signals from experienced investors and manually or automatically copy positions into their own accounts. Fees are low and there is a long list of signal providers to choose from. For those wishing to sell signals, there is a simple three step process to follow.

MultiBank FX social trading system
MultiBank FX social trading system

Trading Accounts

The MultiBank Group have several account options to suit a variety of needs. It is easy to open a live account and the broker offers negative balance protection and attractive leverage and bonuses across the board.

An Islamic, swap-free account is also available. The account doesn’t swap or rollover interest on overnight positions; thus, operating in accordance with the Islamic faith.

Note, clients who trade CFDs on MultiBank FX are eligible for free VPS MAM and PAMM accounts.

Benefits

Drawbacks

Trading Hours

MultiBank Group follow standard trading hours, usually Monday – Friday, though they vary slightly depending on the instrument. For more details and regularly updated holiday hours, visit the broker’s website.

Customer Support

Customer support is a strength of the MultiBank Group, with 24/5 multilingual assistance available through several channels:

Further details can be found in the contact area of MultiBank Group website. It’s worth highlighting that we found support staff responsive and knowledgable about the broker’s products.

Security

The website is reliable, however, there is no 2-step login process on the web trading platform. It also lacks touch ID and face ID functionality. Still, the MetaTrader platforms do offer industry-standard security protocols and keep data relatively secure.

MultiBank FX Verdict

Tight spreads and low minimum deposits are enticing features of MultiBank FX. This combined with ease of navigation and good customer service make opening a live account attractive. With that said, the limited instruments, lack of educational tools and high inactivity fees may deter some prospective traders.

Overall, the MultiBank Group are a reliable, established brokerage with a strong track record. Utilising top-tier MT4 and MT5 platforms, the company provide a good all-round trading experience.

Accepted Countries

MultiBank FX accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use MultiBank FX from United States, Hong Kong.

FAQ

What trading platforms does MultiBank FX use?

MultiBank FX work with MetaQuotes to provide MT4 and MT5 trading platforms. Both are also available as downloadable mobile apps.

How much capital do I need to trade at MultiBank FX?

MultiBank FX minimum deposits are low, starting from just $50 on their Maximus account. This makes it a good option for beginners starting out.

Does MultiBank FX offer a demo account?

MultiBank FX offers a demo account with a $100,000 virtual opening balance and simulated real-time trading. Head to the broker’s website to sign up for the practice account.

Is MultiBank FX regulated?

MultiBank FX is regulated across four continents by the Australian Securities and Investment Commission (ASIC), Federal Financial Supervisory Authority (BaFin), Financial Management Agency (FMA), National Securities Market Commission (CNMV), Dubai Financial Services Authority (DFSA), British Virgin Islands Financial Services Commission (FSC), and Cayman Islands Monetary Authority (CIMA).

Does MultiBank FX offer mobile trading?

MultiBank FX does offer a mobile trading app available via iOS and Android. The app is easy to navigate making trading on the move simple.

Is MultiBank FX a good broker?

MultiBank FX is a reliable broker. The group are regulated worldwide and offer competitive spreads, appealing bonuses and low deposits across a range of instruments.

MultiBank FX is a regulated forex and CFD broker offering sign-up deposit bonuses, tight spreads and MT4 trading.

MultiBank FX vs Other Brokers

MultiBank FX vs