MultiBank Exchange Group Review
What is MultiBank Exchange Group?
MultiBank was founded in California in 2005 and has since grown to be a major financial institution. It offers customers trading access to banks, exchanges, and advanced trading platforms.
MultiBank's exchange service, the MultiBank Exchange Group , was delivered to more than 280,000 retail customers through more than 90 countries. MultiBank also has offices in Sydney and Los Angeles, Vienna and Frankfurt, Madrid and Cyprus.
The group also serves different branches, where each has its own task and role. MEXFintech is located in Hong Kong; MEX Asset Management (Austria), GmbH, Beijing, Tianjin and Hangzhou are all MEX Group Worldwide offices.
Broker: MultiBank Exchange Group
Minimum deposit: 50 US$
Leverage: 1:30 | 1:500
Regulator: ASIC, BaFin, CIMA, SCA, etc.
Year: 2005
Platforms: Maximus Platform ECN PRO Platfrom MultiBank Pro Platfrom MT4, MT5
HQ: Australia, USA and Germany
MultiBank Exchange Group Licences:
MEX Australia Pty Ltd - authorized by ASIC (Australia) registration no. ACN 155 084 058 AFSL 416 279
MEX Digital Pty Ltd is authorized by ASIC Australia registration number. 100724469
MEX Asset Management GmbH is authorized by BaFin Germany (Germany) registration number. HRB 73406
MEX Atlantic Corporation - Authorized by CIMA (Cayman Islands), registration number. 1811316
MEX Global Financial Services LLC is authorized by SCA (UAE registration number. 20200000031
MultiBank FX International Corporation (BVI) registration number. SIBA/L/14/1068
MEX Asset Management GmbH is authorized by FMA Austria (Austria) registration number. 491129z
MEX Global Markets, PTE. LTD. - Authorized by MAS (Singapore), registration no. CMS101174
Ikon Financial Services Corporation Ltd - authorized by TFG (Tianjin) registration no. 120000400121019
MEX Pacific (V), authorised by VFSC (Vanuatu), registration no. 700443
Overview
MultiBank Exchange Group A globally recognized financial institution, MultiBank Exchange Group offers Forex and CFDs trading.
Negative points can be submitted to Proposal. Each entity has its own proposal and 24/7 support is not available.
Pros
20,000 assets offering broad coverage of financial markets
Raw spreads from 0 pips and maximum leverage of 1:500
MAM/PAMM accounts and proprietary copy trading platform
ECN trading with deep liquidity and no requotes
Cons
Access to raw spreads requires a $5,000 minimum deposit
Scalping is not allowed, and high inactivity fee after three months of dormancy
Scalping Restricted
Little Educational Content
Rating of the company overall
Reliability ⭐⭐⭐⭐
Platform ⭐⭐⭐⭐⭐
Commissions ⭐⭐⭐⭐
Support ⭐⭐⭐⭐⭐
Financial instruments ⭐⭐⭐⭐
RATING: 4.5
Specifications
Awards
The company believes exchange technology is the best director of the financial markets. MultiBank Exchange Group provides award-winning trading technology and liquidity providing, as well as brokerage services. Broker and its financial institution will eventually become a multi-recognized and award winning group that continually improves their proposals and receives great rewards.
MultiBank Exchange Group: Safe or a Scam?
MultiBank Exchange Group is a well-respected financial institution that follows best practices. It is also fully registered and regulated in all jurisdictions it serves clients. This is not a fraud. MultiBank licenses include top-tier ASIC and BaFIN, so it is low-risk Forex trading.
Is MultiBank Exchange Group legitimate?
Yes, MultiBank Exchange Group is legitimate and well-regulated around the world. It includes the Australian Securities and Investment Commission ("ASIC") and the Federal Financial Supervisory Authority (BaFin") from Germany. Also, it has European cross-boarding authorization from CNMV and FMA.
There are also offshore registrations with the Financial Services Commission (FSC) of the British Virgin Islands and the Cayman Islands Monetary Authority (CIMA). While this does not provide the required security level, we recommend that you sign it. MultiBank Exchange Group is considered a safe broker to trade or invest with, given its compliance with numerous legal requirements.
How can traders be protected?
MultiBank is able to offer you the best protection because it has many regulatory obligations.
MultiBank Exchange Group provides the highest level of security for funds by providing up to $10,000,000 per account with segregated accounts with first-class banks. The company also offered negative balance protection, which protects you against losses, even though it is not required by every regulation.
Leverage
Depending on which MultiBank Exchange Group entity you are dealing with and the applicable regulatory obligations, you may be able to leverage powerful tools to increase your trading results.
Regulations in different jurisdictions have different rules for leverage.
The allowed leverage for major currency pairs is significantly lower in Europe than it was for other countries.
Australian clients might still be able to use leverage ratios up to 1:500
International traders - 1 500
Dubai clients (See Best Forex Brokers Dubai) may use 1:200 under RAK UAE regulation
1:500 for professional clients
It is a good idea to understand how leverage works so that you don't take unnecessary risks when trading.
Types of accounts
The specifications for trading accounts are divided into offering to institutional clients or retail clients. Thus, the account only defines the investor and also offers social trading capabilities.
You can also choose from Maximus MT4, MultiBank Pro MY4 or ECN Pro MT4, which have different conditions and trading costs.
How do I open an account?
MultiBank Exchange Group review also explains how to open a virtual account. This is an easy process. Once you have completed the required information and documentation, the next steps will be taken.
Follow the Open Account link
To confirm your Live account, provide personal data and trading experience
Register to verify your account using the link in your email. You will have access to your Demo trading area and your account area.
Make your first deposit
Markets and trading
Fees
MultiBank Exchange Group focuses on trading costs for Standard accounts.
ECN PRO MT4 - This professional account has spreads starting at 0.1 pip and commissions of 3$ per Lot with the traded amount of $20,000$. Further, the commission is discounted to 2$ per lot. This is a very competitive and profitable trading option.
MultiBank Exchange Group's costs are generally low compared to the industry. You can also see cost comparisons below. Also, take a look at the snapshot to compare the prices of the different platforms. Compare to Eightcap.
Spreads
MultiBank trading conditions can vary depending on the platform or trading account you use at MultiBank. For example, if you trade through Maximus MMT4 spreads average around 1.4 pip. MultiBank Pro HTML4 is designed for experienced traders and larger accounts. It requires a minimum of 1,000$ to open an account. However, it typically has 0.5 pips .
Snapshot of MultiBank Exchange Group Fees
Trade Instruments
MultiBank's trading account will provide you with prime liquidity within a strictly regulated framework. This will ensure that your funds are secure and also allow you to trade a wide range of instruments, including foreign currency, metals, and CFDs with tight pricing.
This means that the exchange technology provides you with full transparency with quotes of 20 Top Tier Banks, twelve Exchanges and six ECNs. MultiBank also included this asset in its CFD trading offering due to the rise of cryptocurrency and blockchain technology.
What payment methods does MultiBank Exchange Group offer you?
MultiBank provides a range of quick, easy and secure payment options for withdrawals and deposits. However, you are subject to regulatory restrictions. traders issued by different Group entities might face differences in payment methods and charges.
Deposit Options
You can choose the base currency for your account so you avoid unnecessary conversion fees. You can choose from USD, GBP or EUR as well as JPY, EUR, CHF and AUD. There are also general funding options available, including the ones listed below. However, make sure you have access to the method in your country of origin.
Bank Wire transfers,
Credit Card
Neteller, Skrill and fasapay are available for online-payments
Minimum deposit
MultiBank Minimum deposit is 50$,which offers traders great opportunities regardless of their size or strategy. You should ensure that you check the margins applicable to the instrument you wish to trade. This will help you to cover specific conditions and different technology platforms.
MultiBank Minimum Deposit vs Other Brokers
Withdrawal
MultiBank Exchange Group generally does not charge any commission for withdrawalsfrom its end. However, different jurisdictions may have their own legal conditions and international rules that could add additional charges. You should always check with the payment provider and the broker's customer service if there are any fees.
How can I withdraw money from MultiBank Exchange Group
You can withdraw funds from your account online. The money will then be transferred using the chosen method.
What is the average time it takes to withdraw money from MultiBank Exchange Group
The broker will usually confirm your withdrawal request within 1-2 days. However, this may change depending on entity conditions.
Trade Platforms
MultiBank platform provides technology based upon MetaTrader proven powerful capabilities. It is installed to MT4 and HTML5 platforms that enable partial fill with bridge technology without any slippage or rejections. These platforms use the MT4 engine to run ECN connections with customized capabilitiesof trade opportunities, allowing for sophisticated yet user-friendly suits to any strategy.
Web Platform
Particularly, MultiBank platforms include a variety of platforms through Maximus Platform and ECN PRO Platfrom. Each platform suits the needs of their clients and is an ideal choice for any trader.
MultiBank Exchange Group platforms make it possible to trade algorithmic, scalper and automatic traders, as well as the advanced money management offering through PAMM accounts and MAM accounts.
Desktop trading platform
All platforms are also available in desktop versions, which will allow you to access advanced analysis and manage positions. There are many order types that can maximize your strategy and help you manage your money at risk.
The platforms are all built on the MT4 software. They can be customized by account type.This includes and offers that are tailored to account pricing and solutions. The MT5 platform has all the features of the MT4 but with enhanced scripting tools and custom indicators .
Mobile Platform
The package also includes the Definitely mobile app. Each platform has its own app that is easy to use and comes with many tools.
MultiBank's award-winning platform capabilities are not the only thing that MultiBank has to offer. The diversified portfolio also includes APIs and VPS use free of charge, and no restrictions on EAs. You can also participate in the Demo Contest and win valuable prizes without taking any monetary risks. This is certainly a great opportunity.
Customer Support
The diversity of the companies also means that their customers have multiple support options. They offer 24hr customer service in 10+ languages with the service desk, configuration, cash management, and on-boarding.
Customer Service is also easily reachable and provides quality answers through Live chat, email and the contact form. There are also a number of international telephone lines that cover the entire globe.
Research
Educational Support for Beginners is available through videos, tutorials, seminars, learning materials, and financial news in multiple languages. This will help you make better decisions and be more knowledgeable.
MultiBank Education was eventually recognized, so you'll find a well-organized learning centre, as well as a variety of research tools and materials. You will have access to Signal providers, Expert Advisors, Social Trading capabilities, and other tools that can help you trade and duplicate trades.
Conclusion
The MultiBank Exchange Group review shows a company that has a wide range of offices and expanded trading portfolios due to the many regulations, laws, and offerings. A MultiBank Exchange Group broker can be trusted by almost all traders, regardless of location. They offer a comprehensive trading platform and excellent support. There are options for both beginners and seasoned investors. You can also choose from accounts that suit your trading needs.