Is MultiBank Exchange Group a Scam? Detailed MultiBank Exchange Group Review Updated 2023

Your customer service experience with MultiBank Exchange Group has to be positive for you to effectively trade the financial markets on the MultiBank Exchange Group platform. MultiBank Exchange Group should answer all of your questions and your MultiBank Exchange Group platform issues are solved. MultiBank Exchange Group has a great client support team, so we have rated their customer service highly. Some brokers may waive the minimum deposit requirement to attract new customers but may compensate for it by charging higher transaction commissions and trading fees. As the online trading market becomes more competitive, brokers have reduced their minimum deposit requirements to attract new clients. Brokers that operate under the supervision of regulatory authorities like MultiBank Exchange Group are subject to strict guidelines that prohibit them from manipulating market prices to their advantage.

MultiBank Exchange Group does not support the cTrader trading platform. However, if you’re looking for a broker that does offer cTrader, you can explore other options available through the provided link. To see a list of the top MT4 brokers, see our comparison of MT4 brokers.

Deposit and Withdrawal Options

The MultiBank Group maintains a trustworthy and secure environment as the platforms are regulated by more than 10 regulatory bodies around the world, making the platforms as transparent as possible. There are mainly three account types across global entities for trading CFDs and forex, including Standard, Pro, and ECN. MultiBank customers can also use demo trading to experiment with the platform without real money investments.

Besides, the cost of trading with this broker seems moderately low – the initial deposit required is $50 and the benchmark EUR/USD spread is floating around 0.7 pips (no commission applies). For the purposes of this review, we found the customer support to be responsive, but uninformed. MultiBank offers support in eight different languages, and help is available 24/5 via telephone, email, WhatsApp, and live chat. Multibank offers one of the largest ranges of financial instruments in the world. Many trading sites use third-party platforms, while others develop their own in-house. There’s no real answer to that as at the end of the day it depends on the quality of the trading platform itself – regardless of who developed it.

MultiBank Group Review 2023

Both platforms are free to use, all can be downloaded to your PC and all have web versions of the platform. They are also available on mobile Android and iOS devices (for more on Multibank’s mobile platforms, click here). Another important cost to consider is the swap rate charged on positions held overnight. When trading a currency, you are borrowing one currency to purchase another.

There are three account types you can choose from – the standard, pro, and the ECN. Below, we’ve provided you with a breakdown of exactly what each account type can offer you as a trader. Ultimately, this should help you to make an informed decision about the correct trading account type for you. MultiBank Group offers one of the safest trading platforms closely supervised by more than 10 financial regulators around the world across multiple jurisdictions that guarantee protection to investors and traders. It is regulated by AUSTRAC, BAFIN, ASIC, CIMA, ESCA, FMA, MAS, FSC, VFSC, and TFG. MultiBank Group’s customer support team is readily available to provide assistance to clients via multiple channels, and their response time is generally quick.

Top 3 Forex Brokers

Multibank’s Pro Account requires a minimum starting deposit of 1,000 USD but offers tighter spreads than on the Standard Account. Multibank also offers an ECN account, with raw spread pricing and a commission per lot traded. Multibank offers full support for both the MT4 and MT5 platforms on two live commission-free accounts, a commission-based ECN account, and an unlimited demo account. The MultiBank Group has multiple account types to suit different needs based on the preferences of the traders.

All events and news are updated in real-time as soon as any information is released. The Economic Calendar provides general information and is intended for informative purposes only. The social trading feature at MultiBank allows traders to invest smartly. Social trading, also known as copy trading, allows traders to copy the trading strategy of a profitable, consistent, and active trader. The experienced trader may act as signal providers and earn additional income when any trader copies their trading moves and account at MultiBank. MultiBank offers its services to an international demographic of traders in partnership with affiliates from more than 20 offices within the world’s financial centers.

Is Multibank Exchange Group regulated?

On one hand, the platform offers a wide range of tradable instruments and competitive spreads, which is great. On the other hand, the platform often experiences technical glitches and lags, causing frustration and hindering smooth trading. If they can improve their technical stability, https://traderoom.info/darwinex-overview/ it would be a fantastic platform. Their advanced trading tools, such as the MT4 platform, have enhanced my trading strategies. This broker is one of the most reliable I have encountered, and it leads the industry by providing Zero Commission Trading and Negative Balance Protection.

The choice between the accounts is suitable for beginning traders or seasoned investors, as well as the competitive trading conditions through the STP processing of orders. Features such as the economic calendar offers traders access to relevant financial market news. The mobile application provides a streamlined trading experience to customers. The mobile application collects data such as contact information and diagnostics. You can access MultiBank Group’s offerings on MT4, MT5 and MultiBank cTrader.