Welcome to our expert Multibank Group review here at TradersBest! Here, we’ll tell you all about the multitude of trading options on this platform, which includes crypto, stocks, CFDs, and much, much more!
We’ll also alert you to any Multibank Group scams that you may want to avoid, and will ultimately put your mind at ease by answering that all-important question, “is Multibank Group safe and secure?” So join us, as we prepare to take you through one of Australia’s premier online trading platforms today.
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We know that the majority of you reading this will be looking for a new operator, which is why we’ve chosen to kick-start our Multibank Group review by checking out what they offer their new customers. What Multibank Group is currently offering their new customers is the chance to grab up to $40,000 via the 20% deposit bonus.
In order to claim this bonus, you will have to select the standard or pro platform when creating your Multibank Group account – as ECN isn’t compatible with the offer. You then simply have to make your first deposit using one of the available banking methods and then start boosting your trades. The withdrawable portion of your bonus will increase, the more lots you trade – with the entire bonus amount becoming withdrawable eventually.
So what is Multibank Group exactly and what do they offer? Multibank Group is a very broad trading site that’s designed to cater to a wide range of traders – both in terms of trading interests, location, and experience level. Despite having a lot of information to display, the overall layout of the website is intelligent and very simple to navigate and follow.
The website is extremely transparent and keeps nothing hidden from the user. What’s more is that the majority of the website can be accessed by non-account holders, meaning that you can make an informed decision before taking the plunge and creating your full account.
|Headquarter||Business Bay, Prime Tower, Dubai, UAE, Office 1803/1808|
|Year of Founding||2005|
|Available Languages||English, French, Spanish, Russian|
|Customer Support||Live Chat, Email Support|
|Phone||+1 213 992 4748|
|Licence||155 084 058|
|Payment Methods|| |
In this section of our Multibank Group review, we found that there is no messing around with this operator. 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.
The standard account is, naturally, the most basic account that you can open with Multibank Group and is the one that will appeal to the majority of our readers today. This is the ideal account for new and novice traders and provides an excellent introduction. In order to open a standard account, you only require a minimum deposit of $50, but can still benefit from 24/7 multilingual support, social trading, and more.
The pro account is ideal for those who want all of the benefits of having an ECN account without the need for such a high investment. The minimum deposit required to open a pro account is $1,000
This account is designed for premier brokers, who can enjoy tight spreads from 0.0 pips. A minimum investment of $5,000 is required in order to open an ECN account with Multibank Group.
If any of your accounts remain inactive for a period of three months or more, an inactivity fee of $60 per month will be charged.
In terms of trading platforms, there are three to choose from – MT4, MT5, and the social trading platform. Both Multibank Group’s MT4 and MT5 trading platforms have been developed in-house and have won multiple awards in the past, and it’s easy to see why, as the trading platforms are plentiful in terms of tolls while still maintaining a functional interface that is easy enough to get to grips with.
The MT4 and MT5 trading platforms are downloadable and compatible with more or less all types of desktop and laptop devices. In addition to the downloadable desktop trading platforms, there are also mobile app versions of the MT4 and MT5 platforms for both Apple and Andriod devices. Overall, we were impressed by this section of our Multibank Group review.
As we mentioned earlier in our Multibank Group review, the trading fees with this platform are more or less in line with the industry average. In terms of the actual banking methods available, Multibank Group has over ten different options available. For Australian customers, there’s good news, as AUD deposits can be made using Poli.
You can also fund your account via Bank Transfer or Visa/Mastercard, and you’ll find a range of e-wallets, including Neteller and Skrill. Given that Multibank Group crypto trading is available, it comes as no surprise that Bitcoin payments are also accepted. As we stated in the “accounts” section of this Multibank Group review, the minimum deposit for a standard account is just $50, while the pro account minimum is $1000 and the ECN is $5000.
So is Multibank Group reliable in terms of fees? In researching for this Multibank Group review, we found the answer to this question offers up a mixture of peaks and troughs. That is to say, some fees are pretty high when compared to the industry average, however, these are offset by others that are relatively low – others meanwhile, are fairly average.
Starting off with the positives, the finance rates are fairly low and, other than the $60 inactivity fee mentioned above, there are no non-trading fees to speak of. The trading fees are more or less matched to the industry average, while the commission fees can be high in some cases. For example, ECN accounts with a balance below $20,000 have to pay $3 per lot per trade.
We tested the customer service for this Multibank Group review before and after actually creating an account. In both cases, we received quick and helpful responses. The quickest and easiest way to get a response is via the live chat widget, which you can always find in the corner of the homepage. Additionally, you can also contact them via the Australian phone line, WhatsApp, or via email. All of the information is available at the click of a button on the right-hand side of your screen.
We received an excellent service via all channels that can only be described as quick and efficient. The Multibank Group reviews of customer service that we had read from existing customers were all glowing – and those high expectations were very much met when researching our own Multibank Group review. The customer service is available 24/7 and in multiple languages including English, French, Russian and more.
Perhaps not the most exciting section of our Multibank Group review, but certainly one of the more important. Here, we’ll take a look at the regulation and insurance that keeps both you and your money safe.
In Australia, Multibank Group ’s company MEX MEX Australia Pty Ltd is authorized and regulated by the Australian Securities & Investments Commission (ASIC). Elsewhere in the world, you’ll find that Multibank Group is regulated by similar financial governing bodies in Europe and Asia, as well as the Caribbean.
In terms of fund security, our Multibank Group review found that client funds are kept completely separate from the company’s, which helps ensure their safekeeping. Additionally, Multibank Group clients of all types have access to settlement facilities.
The Multibank Group is a US company that originally grew out of California back in 2005. Today they operate on a global scale, offing trading in stocks, CFDs, crypto, and much more to clients throughout the world. As well as their online presence, they have 25 offices spread out across the globe to make their customer service accessible to customers in all of the regions in which they operate.
Our Multibank Group review found the advantages of this operator to be in their strong regulation, safety record, and in the quality of their trading platforms and products. In terms of bonus features, the headline undoubtedly has to be that you can withdraw your funds within 24 hours – much quicker than with the majority of competitors. They also offer a special Islamic Account, which does not allow swaps of overnight positions, as that is against the religion of Islam. Basically, if there’s a way of going the extra mile to keep customers happy, Multibank Group will try to do it.
In our Multibank Group review, we found that customers can trade over 55 currency pairs over the Mt4 and Mt5 trading platforms. Depending on the type of account that you have, the trading conditions and fees can be extremely favorable, as we’ve explained for you below.
When it comes to forex trades, ECN account holders are charged $3 per lot per trade with Multibank Group. However, other trading fees are low, and there are no withdrawal fees to speak of.
Depending on which type of account you have, Multibank Group offers you 0.0 pip spreads, 500:1, and a guaranteed execution in 20 minutes or less. There are also no trading restrictions on the EA and they ensure no requotes or rejections. The MT4 and MT5 platforms offer good liquidity conditions and reduced slippage among other trading advantages. To see what trading conditions you get with each account type, consult the earlier section in our Multibank Group review.
Overall, this is an excellent place for forex trading, thanks to the reasonable fees, favorable trading conditions, and top-of-the-range trading platforms.
The tradable assets with Multibank Group include metals, shares, indices, and commodities. As mentioned throughout this Multibank Group review, stocks and shares can be traded over their award-winning MT4 and MT5 platforms.
Multibank Group advertises itself as having no commission fees, however, there still are some trading fees to look out for. Depending on volume, account type, and what you are trading, we think you’ll find the stock trading fees to be average-to-high in most cases. However, other than the account inactivity fee, there are no non-trading fees that we could find.
As we’ve already run through in this Multibank Group review, this company operates on a global scale, with 25 international offices and regulation on five continents. As such, you’ll find that you get access to all of the world’s biggest stock exchanges. This includes the NASDAQ, ASX, NYSE, and plenty more!
If you’re looking to trade stocks on a global scale and invest in some of the world’s biggest companies, then Multibank Group definitely shouldn’t be overlooked. The fees might be a little higher than they proclaim, but are still most definitely reasonable.
Multibank Group offers trading on over 1000 CFDs with decent leverage on indices and shares. When it comes to shares, you have access to the world’s largest stock exchanges, meaning you can invest in the top companies on the planet, including Apple, Netflix, and Facebook, to name but a few.
The best thing to note here is that Multibank Group offers no commission fees when trading CFDs on its platforms. There are also no non-trading fees aside from the $60 per month account inactivity fee, which starts if your account has remained inactive for a period of three months.
Multibank Group offers over 15000 shares from the world’s top exchanges, which can be traded at margins as low as 5%. Three things that Multibank Group guarantees when trading CFDs on their platforms are no slippage, no rejections and no requotes. The trading platforms also offer complete market transparency.
Multibank Group claims to be the world’s best CFD trading platform. While this might be a little bit of a stretch given the sheer amount of competition, we do have to say that they are certainly up there. If nothing else, Multibank Group offers a safe, secure, and well-constructed CFD trading platform with amazing market access.
With Multibank Group, account holders can trade a multitude of cryptocurrencies against the USD including Bitcoin, Ethereum, Ripple, and more.
When creating this Multibank Group review, we found that it was difficult to find the crypto trading fees in advance. However, in practice, the costs of trading crypto with Multibank Group definitely aren’t bad at all.
The advantages of trading in crypto with Multibank Group include tight market spreads, 24-hour execution, and negative balance protection. Trading is available 24 hours Monday – Thursday and until 22.55 on Friday.
While Multibank Group may offer comparatively few pairs compared to some of the more dedicated crypto trading platforms, this is still an excellent platform in many ways. This is thanks to the general trading conditions and the overall track record and reputation of Multibank Group as a company.
Multibank Group is a company that was started in California back in 2005. However it now operates in countries across the world, As a result, it theoretically should be regulated by multiple financial bodies. You can find out if Multibank Group ’s regulation status is up to date where you are by consulting the experts at TradersBest.
The answer to this question depends on what region you are trading from and what payment method you have used to fund your account. Details of all the Multibank Group withdrawal conditions and the process can be found in our expert review.
Many trading sites use third-party platforms, while others develop their own in-house. Which one is best? 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. Find out what each of the top trading sites in Australia uses here.
If the ultimate question is would we recommend Multibank as a trading platform? Then the answer has to be an unequivocal yes. As well as offering two multi-award-winning trading platforms, three solid account types and excellent customer service, Multibank is also safe, secure, and has one of the best track records out there. From casual traders to professionals, this truly is an excellent financial trading company to invest your money with.
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