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MultiBank Group review and ratings

Established 2005
Location Australia Austria Germany Spain UAE British Virgin Islands
Regulation ASIC, FMA, BaFin, CNMV, DFSA, BVIFSC
Offices Sydney, Vienna, Frankfurt, Barcelona, Road Town, Limassol, Dubai, Hong Kong, Beijing, Ho Chi Minh, Kuala-Lumpur, Manila, Monterrey and more
Broker type STP | ECN
Leverage up to 1:500
Deposit from 50 USD
Spreads low  low
Platforms Web MetaTrader 4 MetaTrader 5 FIX API (protocol)
Instruments Currencies Crypto Indices Metals Energies Stocks
Funding methods Wire Transfer Credit Cards Skrill Neteller UnionPay Perfect Money Bitcoin POLi
Best MT4 Test

Equity Growth: 156%

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Company information

MultiBank Group includes 6 related companies.

MultiBank AU - located in Australia, regulated by the Australian Securities and Investments Commission (ASIC).
MultiBank AT - located in Austria, regulated by the Financial Market Authority (FMA).
MultiBank DE - located in Germany, regulated by the Bundesanstalt fur Finanzdienstleistungsaufsicht (BaFin).
MultiBank ES - located in Spain, regulated by the Comision Nacional del Mercado de Valores (CNMV).
MultiBank UAE - located in the United Arab Emirates, regulated by the Dubai Financial Services Authority (DFSA).
MultiBank BVI - located in the British Virgin Islands, regulated by the BVI Financial Services Commission (BVIFSC).

Be aware, all EU companies have some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.
Unfortunately, AU company also has been imposed with trading leverage limitations by ASIC since the end of March 2021.
At the same time, BVI company accepts European and Australian traders, so one can open a trading account there.

Availability

MultiBank Group accepts clients from all over the world, excluding USA, Iran, Iraq and some other countries where restrictions apply.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for trading.

35+ Currency Pairs Based on major and minor world currencies.
5 Crypto Pairs Based on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple.
14 Cash Indice CFDs Based on baskets of different blue-chip stocks and Volatility Index.
6 Indice Futures Based on baskets of different blue-chip stocks and US Dollar Index.
3 Metal Spot CFDs Based on Gold, Silver and Platinum.
1 Metal Future Based on Copper.
2 Energy Spot CFDs Based on Crude Oil (WTI, Brent).
3 Energy Futures Based on Crude Oil (WTI, Brent) and Natural Gas.
1000+ Stock CFDs Based on shares of AU, US, UK, EU and HK companies.

Comprehensive review

MultiBank is a fairly large forex & CFD broker with offices in many countries around the world. As a result, the broker is also regulated in many countries, with the most notable examples being Germany’s BaFin, the Australian Securities and Investments Commission (ASIC), and the Austrian Financial Market Authority (FMA).

MultiBank was set up in the US all the way back in 2005 under the name MultiBank Forex Exchange Corporation. However, the company is today not regulated in the US, and as many other brokers it does not accept US residents as clients.

As opposed to many other popular brokers, MultiBank has a strong focus on stock trading, with stock CFDs from over 15,000 companies available to choose from. In addition, the broker also offers a selection of CFDs based on a few stock indices, cryptocurrencies, and commodities. In terms of forex, MultiBank offers about 50 different currency pairs, which is roughly in line with what other brokers offer.

Unlike other large brokerages, however, MultiBank does not offer trading in ETFs, interest rates, and bonds.

When it comes to trading platforms, MultiBank has chosen to focus exclusively on the MetaTrader family, offering both the MT4, MT5, as well as the web-based version of the platform. Although MultiBank’s website appears a bit confusing when it uses names like “ECN Pro,” “MultiBank Pro,” and “Maximus” for their trading platforms, these are in reality just different types of trading accounts on the same two platforms; namely MetaTrader 4 or 5

Among the above-mentioned account types, the ECN Pro account offers the tightest spreads, starting from just 0.0 pips. Sadly, this account type comes with a rather large minimum deposit of USD 5,000, making it unattainable for many smaller traders.

Some of these traders may instead choose to go for the MultiBank Pro account, which requires a more reasonable minimum deposit of USD 1,000. For this account type, spreads start from 0.8 pips.

For beginners, the Maximus account may be the right place to start. Here, spreads start from 1.4 pips, and the minimum deposit is set to just USD 50.

In addition to the three main account types, MultiBank also offers a swap-free Islamic account for Muslim traders, as well as a demo account for paper trading.

All account types come with negative balance protection, as has become standard within the European Union and some other regions of the world. In addition, high leverage of up to 1:500 is available for traders who sign up with one of the entities of MultiBank that are regulated outside the EU and Australia. For the Australian entity and the EU-based entities in Germany, Austria, and Spain, however, maximum trading leverage is just 1:30, in accordance with the new regulations from ASIC and the European Securities and Markets Authority (ESMA).

MultiBank’s customer support can be reached via local phone numbers in nearly all countries that the broker serves, including most European countries, many countries in Asia and the Middle East, the US, South Africa, and some countries in South America. Alternatively, new and existing clients can contact the broker via email or live chat.

As is expected from all major forex brokers, MultiBank’s customer support is open 24 hours a day on all trading days.

Reviews from traders

3/5
(2 votes)
5/5
Germany
Germany
1/5
UAE
UAE
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