MultiBank Overview

By An Khmurenko on in Brokers
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MultiBank is a California-based financial firm founded in 2005 and has evolved into one of the largest online financial derivatives providers worldwide. It is a multi-regulated broker offering award-winning trading services capped by tightest spreads in the industry and world-class tailored financial services for Introducing Brokers. 

Learn more about MultiBank Group and its top-tier services by reading this forex broker review.

MultiBank Overview

MultiBank Background & Safety

MultiBank Foreign Exchange Corporation Incorporated, known as MultiBank Exchange, was founded in California in 2005.  MultiBank Group consists of 25 offices worldwide to cater to its clients across the globe. MultiBank also has linkages in major financial hubs around the world.

In its 15 years of service, MultiBank has received over 40 awards including Best FX & CFD Broker (Europe and Asia) 2019. Moreover, MultiBank is one of the reputable firms in the industry as it is a multi-regulated broker, acquiring certifications of regulatory compliance from major financial bodies including the Australian Securities& Investments Commission (ASIC), the German Federal Financial Supervisory Authority (BaFin), and the National Securities Market Commission in Spain.

Aside from firm regulatory credentials, MultiBank boasts of its assets as a leading brand. Some of these include having a full ECN processing with direct access to more than 20 interbank trading prices, a risk management facility, Decision Support Tools, a Dynamic position tracker, Point-and-choose position closeout, and a well-designed Back-office suite. 

In addition, MultiBank has award-winning MT4 and MT5 platforms, negative balance protection, no requotes, no rejections, and free access to some key features such as MAM, PAMM, VPS, and API. 

When it comes to clients’ fund security, MultiBank has fully segregated bank accounts for client funds and company funds.  

Being a global asset management and brokerage company, MultiBank is servicing to some 320,000 clients from 90 countries worldwide. 

MultiBank products and services range from financial markets in forex, metals, shares, indices, commodities to complete white-label technology packages, and social trading.

MultiBank Overview

MultiBank Features & Fees

Financial Instruments

MultiBank offers over 45 forex pairs, Gold and Silver, more than 1,000 shares, 13 indices, and 3 commodities. 

Account Types

MultiBank features three account types in ECN Pro, Multibank Pro, and Maximus. Let’s take a closer look at the conditions of each account type.

ECN Pro – It has a commission rate per trade while you enjoy tighter spreads. The minimum deposit for this account type is $5,000.

Multibank Pro – There are no commission fees under this account. However, you only get to access average spreads during trading. For a minimum deposit of $1,000, you can avail of this account type.

Maximus – There are also no commission fees in trading using this account type. What’s more, you are to access wider spreads and open this account type with a $50 minimum initial deposit.

These live accounts are further classified into three kinds: individual, joint, and corporate. Based on your trading preference, you get to open any of these account classifications. The individual account is for one trader. The joint account is for two or more individuals sharing the account. The corporate account is for institutional traders or legal entities wanting to trade. 

MultiBank also offers the Islamic account for traders observing the Sharia Law as this account type has no interest or swap charges on overnight positions. 

But if you want to test the broker’s trading system and infrastructure or that you want to test your trading strategies without any financial risks, you can always opt for the broker’s Demo account offering.

Funding Methods

MultiBank provides traders an array of payment options for its clients. To determine which options are viable for you, you need to select the regulator or financial institution of your jurisdiction. Each regulator has a set of funding options. For instance, the ASIC, you can opt for Visa, Skrill, Neteller, Perfect Money, Payment Asia, etc.

The same mechanics apply for withdrawal transactions. The first step, however, is sending a withdrawal request through your MultiBank trading account before choosing your regulator. 

The good news: there are no deposit and withdrawal fees in MultiBank. 

Promotions

When you choose the Maximus account, you are eligible to receive a 100% bonus with a maximum of $20,000. This promo is for new clients on their first deposit transaction.

MultiBank Overview

MultiBank Trading Platforms and Tools

The industry popular MetaTrader 4 web platform is the primary platform option in MultiBank. MT4 Web features 50% Stop Out level, one-click trading, and VPS hosting. 

Aside from the Web-based version, MultiBank’s MT4 also comes in Desktop version. It has the same features and looks with that of the web version. 

Mobile trading is also available in MultiBank as the MT4 mobile app can be downloaded in iOS and Android devices.

Another platform option is MT5. The MT5 platform features all of the various features of MT4 together with additional features including improved trading functionalities such as Expert Advisors, Market Depth, and alert notifications. 

Bottom Line

MultiBank showcases an array of financial instruments, account types, and trading platforms. In addition, the broker offers fair trading conditions capped by tight spreads, leverage of up to 500:1, and secure trading through negative balance protection. A multi-regulated broker, MultiBank is a safe turf for brokers new and old.