Reviewed forex broker: MultiBank FX
Established in 2005 in California, USA
Location: MultiBank maintains over 15 offices worldwide, including MEX Fintech (Hong Kong), MultiBank Forex Exchange (USA), MEX Exchange (Australia), MEX Asset Management (Germany), MEX Asset Management (Austria), MEX Spain, MEX MENA (UAE), MEX Clearing (UAE), MultiBank LATAM (Mexico), MEX Group (China), MultiBank Vietnam, MEX Prime (Cyprus), MultiBank FX International (BVI) and MEX Wealth Management (Cayman Islands).
With a current paid up capital of over US $322 million, the MultiBank services over 320,000 customers from across 90 countries worldwide.
Regulation: ASIC in Australia, BaFin in Germany, FMA in Austria, CNMV in Spain, FSC in the British Virgin Islands, CIMA in the Cayman Islands and RAK in the UAE
Trading instruments: Forex, Crypto, Indices, CFDs, Commodities, Shares
Cryptocurrencies: Bitcoin, Ethereum, Ripple and Litecoin
Advantages of MultiBank Forex Broker
- 40+ awards, including “Best FX & CFD Broker (Europe & Asia) 2019”
- Tightest spread in the industry with the most stable trading platforms
- Pure ECN processing with direct access to over 20 Interbank trading prices
- Tailored financial services for Introducing Brokers including, but not limited to, 24/5 support and the development of customized account opening applications and trading back offices
- Two way 5 figure raw interbank price feeds with Instant sub-second trade capture/execution
- No price slippage on displayed prices when deals are being executed
- Complete transparency of market with only the best bid/offers being displayed
- Risk Management, Decision Support Tools, Dynamic position tracker, Point-and-choose position closeout and Back-office suite with strategic design and user-friendliness for the convenience of our valued clients and partners
- Award-winning MT4 & MT5 Platforms recognized for excellence in technology and liquidity
- Negative balance protection
- No trading restrictions on EA
- Up to 500:1 leverage
- No requotes
- No rejections
- Free MAM, PAMM, VPS, API
- Client funds security
- Fully segregated client bank accounts
MultiBank Trading Conditions and Features
SOCIAL TRADING
Signal Providers already have a proven track record of stellar trading performance. Copy their trades and leave the professional trading decisions to them.
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Account Types
LIVE ACCOUNT
MultiBank offer customers direct access to banks and exchanges through its advanced trading platforms
DEMO ACCOUNT
- Open a free demo account in 3 easy steps
- Practice trading on a free account with zero risks
- $50,000 virtual opening balance
- Trade on real market conditions
- Trade on desktop, mobile device or online
ISLAMIC ACCOUNT
For the Islamic customers, MultiBank has structured an account for any client to waive all swap charges/credits in their account. MultiBank’s Islamic Accounts (also known as ‘Swap Free Accounts’) do not swap or rollover interest on overnight positions, which is against the Islamic faith.
Account base currencies: USD, GBP, EUR, JPY, CHF, AUD, NZD, CAD
MultiBank provides forex trading in over 45 currency pairs including majors, cross currencies and exotic currencies.
Spreads: Tight spreads from 0.1 pips
FX SPREAD TABLE
Please see below MultiBank’s forex spreads review
| Currency Pairs | ECN Pro | MultiBank Pro | Maximus |
|---|---|---|---|
| EUR/USD | 0.1 | 0.8 | 1.5 |
| USD/JPY | 0.2 | 1 | 1.6 |
| AUD/USD | 0.2 | 1 | 1.6 |
| GBP/USD | 0.3 | 1.1 | 1.7 |
| USD/CHF | 0.3 | 1.1 | 1.7 |
| USD/CAD | 0.3 | 1.1 | 1.7 |
| NZD/USD | 0.3 | 1.1 | 1.7 |
| EUR/JPY | 0.3 | 1.1 | 1.7 |
| EUR/CHF | 0.4 | 1.2 | 1.8 |
Leverage up to 500:1
Up to 5 levels of Market Depth
No restrictions on EA
Negative balance protection available
Guaranteed no price slippage, no requotes and no rejections
Complete transparency of market with only the best bid/offers being displayed
Trading Platforms
MULTIBANK PRO PLATFORM
Ideal for traders looking for an ECN experience on the MT4 platform without the high investment commitment.
MAXIMUS PLATFORM
This MT4 trading platform is ideal for Introducing Brokers and traders who seek no-frill trading experience. The Maximus platform requires minimal investment commitment and is ideal for traders who want to use EA.
STOP-OUT LEVEL
MultiBank’s trading platforms are set to automatically close open positions when the stop-out level is reached. For all accounts, when the equity in trading account falls below 50% of the required margin, the stop-out level will be reached, and MultiBank will automatically close open positions at its opening prices, releasing in the order of highest to lowest margin until the margin level is reached.
>PENDING ORDERS
Clients shall calculate the account equity when reaching the pending order price, to maintain required real-time margin for the execution of pending orders. While pending orders would be automatically cancelled if the margin level is not enough for the execution of the transaction when the price level has been reached.
HEDGED POSITIONS
Hedged-position function is available on MultiBank’s MT4 trading platforms. Customers can choose whether to open hedged-position function (long/short) when opening accounts which does not use margin.
Payment Options for Funding and Withdrawal
Minimum deposit amount is US$50
MultiBank offers a wide selection of instant, simple and secure payment options for deposits and withdrawals
Choose your payment option here to fund your trading account
Various funding methods including: credit card, wire transfer, Neteller, Skrill, etc
Trading Competitions and Promotions
100% BONUS
Earn up to $20,000 on double bonus when you deposit and meet the basic trading requirements below.
CUSTOMER SERVICE
24 hour professional first class customer service in 10+ languages for IT and operational support including service desk, on-boarding and configuration and cash management.
How was the rating of MultiBank performed compared to other brokers?
This 2023 Forex Broker Review has been conducted though thorough research and assessment of rating and ranking among almost 300 international forex brokers. The final grade is given based on MultiBank FX broker performance and features.
Overall our online MultiBank review was conducted with the details obtained from the demo trading and the forex brokers website. If you would like to add details to this online MultiBank or you find inaccurate details MultiBank broker review please get in touch with us and the changes will be applied.
