MultiBank Group Review

MultiBank Group Review
GENERAL INFORMATION
Broker Name: MultiBank Group
Country: Hong Kong
Operating since year: 2005
Regulation: ASIC, BAFIN, CNMV, FMA, DFSA, TFG, AUSTRAC,  CIMA
CUSTOMER SERVICE
Phone: +1 646-568-9702
Email: [email protected]
Languages: English, Spanish, Italian, Arabic, Ukrainian, Vietnamese, French, Russian, Indonesian, Mandarin, Cantonese, Hindi, Urdu, Dutch, Swedish, Turkish
Availability: 24/7
TRADING
Trading platforms: MultiBank Pro, MT4, MT5, Webtrading
Trading platform Time zone: –
Demo account: YES
Mobile trading: YES
Web-based trading: YES
Bonuses: YES
Other trading instruments: Forex, Metals, Shares, Indices, Commodities, Cryptocurrencies, CFDs
ACCOUNT
Minimum deposit ($): $50
Maximal leverage: up to 500:1
Spread: Variable
Scalping allowed: Not Allowed
Forex pairs offered: 55+
Payment methods: Wire Transfer, Credit card, Debit card, Neteller, Skrill, Union Pay, PayTrust, SEPA, Bitcoin, AwePay, GlobePay, Thunder X Pay, Poli Payment
Account types: ECN: min deposit $5,000, PRO: min deposit $1,000, STANDARD: min deposit $50

CONTENT

  • GENERAL INFORMATION
  • FUNDS TRADING AND SECURITY
  • THE TRADING ACCOUNTS
  • TRADING CONDITIONS
  • TRADING PLATFORM
  • MULTIBANK GROUP’S TRADING PRODUCTS
  • CUSTOMER SERVICE
  • CONCLUSION

 

Broker Review: MultiBank Group

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General Information

MultiBank Group is a versatile multi-asset brokerage that’s been around in the industry for quite a while. It started operating in 2005 and has been giving top-tier trading and investing services ever since. Its offices span over numerous countries, with the firm operating in more than ten vital financial centers. Over its years of operating, the firm has constantly innovated and updated, always remaining relevant in online trading circles. Because of that, our MultiBank Group review will help you decide whether the company is one you should consider.

As soon as you enter multibankfx.com, you get a feeling that it’s more serious than the regular broker. It looks good, is well organized, runs smoothly, and isn’t too persistent with marketing. All those are great signs of a solid broker with valid intentions that aims to satisfy customers. Naturally, just having a pretty-looking and functional website isn’t enough to please potential traders. Still, it’s apparent that MutliBank Group knows how to please its customer base.

With a service and an introduction that MultiBank Group has, it’s no wonder it’s maintained relevance. Few brokers manage to push past their first few years, let alone the better part of two decades. The experience the broker has is a sign of valid functioning, as well as a great service. After all, how could a company stay afloat for so long if its customers were displeased? That statement rings even truer in the brokerage world, where innovation is constant and the competition steep.

As you could likely already tell, our MultiBank broker review starts on a positive note. Luckily, the broker continues with that degree of quality throughout the rest of the service. Here are some of MultiBank Group’s interesting achievements and properties:

bonuss offers

·        Continuous Awards

One of the main things that show us MultiBank Group’s quality before we even enter the service are its accolades. Now, a lot of brokers earn an award or two over their lifetimes. What makes MultiBank Group stand out is the consistency and variety of awards it’s received. They come from numerous sources, multiple years, and a lot of them cover different categories. As such, we have solid proof that the broker’s services are of high quality, even before we look at them ourselves.

·        Numerous Licenses

Another advantage MultiBank Group has over most other brokerages is the strength of its security and regulation. Nowadays, most brokers settle for a B-list regulator or opt to operate without any licensing. For brokers that have been around for a while, there’s sometimes one slightly stronger regulator present. However, MultiBank Group has five strong regulators watching how it operates, ensuring it treats customers well. That goes a long way towards proving the company runs well and that its customers can feel safe.

·        Various Promotions

The last significant advantage we want to talk about in this part of our MultiBank Group review is its promotions. Namely, the broker has a diverse set of bonuses its users can claim to bolster their funds. The total amount of money you can get comes up to thousands of dollars, which everyone can agree is significant. Naturally, getting to that amount takes some funds and effort, and the broker won’t give you thousands for signing up. However, the bonuses are still a nice boon to your trading experience, tilting the odds in your favor.

Funds Trading and Security

Funds Trading and Security

Safety is one of the primary advantages of MultiBank Group. It’s no overstatement to say that the broker is one of the safest online brokerage companies present. No matter where you look, the broker’s safety protocols are airtight, preventing any sort of foul play. Even when you look at the less objective descriptors, the broker still doesn’t let up. In this part of our MultiBank Group review, we’ll explain why we’re so confident in its security.

To start, we’ll mention one thing we already talked about earlier in our broker review. Namely, MultiBank Group is a multinational company, and as such has to adhere to a wide set of legal rules. The fact that it keeps its validity under all of the various requirements is quite encouraging. Furthermore, we already spoke about how the broker has numerous regulators following its operations closely and potentially compensating customers. The full list of regulators includes BaFin, DFSA, FCA, CIMA, and ASIC, each a strong financial watchdog on its own.

So with that in mind, the chances MultiBank Group will try and trick you are close to zero. If the broker were even to attempt anything, it’s more than likely it’d get fined and punished by various sources. However, the fact that the broker goes to such lengths to collect licenses tells us it doesn’t intend anything malicious. Still, some traders might find little confidence in regulators, and value customer opinions more.

Even on that front, MultiBank Group does flawlessly. It’s impressive for a broker that’s over 15 years old to still maintain a positive reputation among users. That tells us the broker truly cares about the service it provides and the customers it offers it to.

The Trading Accounts

As we said earlier in our MultiBank Group review, the broker is versatile and can fit various users. That’s in no small part due to its excellent account setup, which has something for everyone. It’s slightly different from the way most brokers, especially newer ones, do it. Namely, instead of tiered accounts that depend on cumulative deposits, MultiBank Group has three distinct ones. Choosing an account this way does require slightly more thought, but you receive something that suits you better.

For those that are worried, you don’t need to be as there’s still a budget option. Namely, MultiBank Group’s cheapest account requires a fifth of the regular brokerage deposit. That means the “price” sits at $50, which is quite affordable for potential traders and investors. Naturally, price here isn’t an exact term, as you still get the entire sum to trade with. As such, MultiBank Group is actually one of the cheaper brokerages, even with its quality and experience.

Furthermore, we should also note that the broker has an account option that starts at 0.0 pips. That can be quite beneficial for users, especially for specific trading tactics. Here are the specifications for accounts at multibankfx.com:

 

multibank group account types

STANDARD

  • Minimum initial deposit of $50
  • Spread from 0.4 pips
  • Leverage up to 500:1
  • Social trading
  • 24/7 technical and account support
  • Multilingual customer service

PRO

  • Minimum initial deposit of $1,000
  • Spread from 0.8 pips
  • Leverage up to 500:1
  • Social trading
  • 24/7 technical and account support
  • Multilingual customer service

ECN

  • Minimum initial deposit of $5,000
  • Spread from 0.0 pips
  • Leverage up to 500:1
  • Social Trading
  • 24/7 technical and account support
  • Multilingual customer service

Trading Conditions

The broker’s trading conditions keep up with its security in ensuring the entire service is top-notch. Namely, the broker has a pricing structure that’s favorable towards users, with a cheap starting account. There’s also a lack of fees and extra charges that you rarely see with other brokerages. The leverage you can trade at is high, sitting at 1:500 and helping out specific strategies significantly. On top of that, there’s an account option that starts with 0.0 pip spreads.

We should also mention that the supporting conditions are excellent. The broker has multiple platforms, as well as a social trading feature. That can be a significant boost for newer and less secure traders. The funding structure and speed are also excellent, allowing your money to transfer quickly. That eliminates any sort of downtime or interruption while you trade or invest.

Trading Platform

Multibank Group MT4

As we said earlier in our MultiBank Group broker review, the firm has two platforms. The platforms at hand are MetaTrader4 and MetaTrader5, both belonging to the top-tier of trading software. Most traders have already encountered one or both, as they’re among the top trading platform for online brokers. They’re both intuitive interface-wise yet offer complex trading features, thus fitting beginners and veterans well. The software also comes in web and mobile forms, bringing increased convenience to users.

MultiBank Group’s Trading Products

One advantage we haven’t mentioned a lot is MultiBank Group’s variety of assets. There’s a ton of different trading products to choose from, making portfolio diversification simple. Even beyond that, the broker covers all the major categories, so traders won’t ever feel like something is missing. Here’s a list of the trading instrument categories you can expect to see at multibankfx.com:

  • Forex
  • Metals
  • Shares
  • Indices
  • Commodities
  • Cryptocurrencies

Customer Service

People often overlook the quality of a good customer support team to overall service. MultiBank Group has phone lines over multiple countries, with many of them being free. That, and the fact that a lot of their representatives are multilingual, leads to a pleasant experience. The support team works 24/6 and is also available through live chat and email.

Phone: +18335427841

Email: [email protected]

multibank group phone

Conclusion

MultiBank Group is a serious brokerage that maintains a high level of quality throughout. We’ve already gone in-depth about their security in trading, so we don’t need to be repetitive. Still, it’s impressive that a brokerage that’s been around for as long as MultiBank Group has is keeping up. Most older brokerages fail to keep up with the constant innovation in online investing and quickly fail. MultiBank Group succeeded in keeping up, giving us a refreshing mix of experience and trading features.

The result is a brokerage unlike many others on the market. No matter where you look, it’s difficult to find something you wouldn’t enjoy with the broker. To wrap up our MultiBank Group review, we’d definitely suggest trying out the broker’s service for yourself. The quality is sure to meet your expectations, and the bonuses make that offer even more enticing.