You’ll also need to specify some trading account settings, answer suitability questions, and provide proof of identity (such as a Passport or other Government-issued ID) along with proof of address. The Standard account requires just a $50 minimum deposit, but comes with higher relative spreads. In my opinion, MultiBank’s Standard account is best avoided unless you are a complete novice. The Pro account requires a $1,000 minimum deposit but features lower spreads than the Standard account. The lowest spreads available at MultiBank are featured on its ECN account offering, which requires a $10,000 minimum deposit and charges a small round-trip commission of $3 per trade.
Another great advantage is the availability of futures contracts, which can be used to hedge market exposure by locking into medium-term and longer-term trades. For example, a long position on gold would generate profit as the price rises or incur a loss as it falls, all without the need to purchase actual gold bars. The table demonstrates how much you would have to pay to trade 1 full lot (100,000 units) in EUR/USD with a pip value of $10 for each account. Join MultiBank Group’s network of over 30,000 Introducing Brokers and enjoy the highest levels of personalized customer care. MultiBank Group was founded in 2005 and today employs over 600 staff globally.
One of the biggest advantages of trading CFDs is that traders can get in and out of the market almost instantaneously, thereby catching even minute changes in the price of the derivative. The market is continually evolving, marked by periodic surges and declines in volatility. For this reason, staying abreast of the latest limefx official site market developments is crucial, a task made simpler through the mobile app version of MT5.
Where is MultiBank Group based?
Platforms like MetaTrader 4 and MetaTrader 5 have become industry standards for a positive user experience, so that bodes well for MultiBank. Additionally, the customer service offered at this broker is impressive. You can also contact this broker via email, live chat, or video conference, in addition to the dozens of phone numbers offered. There is a request form on the Contact Page of MultiBank’s main website. Pricing varies across account types, with the Standard account’s fees higher than average, whereas the ECN account offers some of the industry’s lowest trading fees. Despite slower execution speeds, Multibank shines in service usability and offers dividends for long positions in indices.
Account Types and Terms
The former is within the upper range of competitive trading costs, but the latter is expensive. The best limefx reviews offer is available in the commission-based ECN account, where traders enjoy raw spreads of 0 pips for a commission of $3.00 per round trip. The cost also applies to commodities, but index and equity CFD trading are commission-free. With MultiBank, you can trade products like Forex, metals, shares, indices, and commodities on a wide range of platforms. There is also a white label partnership program for interested brokers.
For the most part, the broker’s research offering is limited to a weekly newsletter and news headlines within its platforms. ForexBrokers.com has been reviewing online forex brokers for over eight years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. A generous bonus offering adds to the benefits available at MultiBank Group, which is one of the best overall brokers for committed traders. I consider Multibank an appealing option for beginners and day traders seeking a wealth of educational resources and trading opportunities.
MultiBank Group offers customers direct access to banks and exchanges through its advanced trading platforms. MultiBank Group offers forex, CFDs, and underlying cryptocurrencies across its relevant brand entities around the world. MultiBank advertises 14,145 tradeable markets, with 14,054 stocks, 11 crypto CFDs, 11 commodity CFDs, 40 forex pairs, 6 metals, and 23 indices. However, the vast majority of MultiBank’s listed offering is unavailable when first logging into the broker’s available platforms.
Top Features
A cashback program, which gives rebates on trading in volume in Forex currency pairs and metals, is also offered. MultiBank Group levies a $60 monthly inactive fee after three months, which active traders will never face. I find it a bit too much and too early compared to the industry average, but it should not be a deal breaker as almost any trader is going to make at least one trade in three months. The VPS lets customers run terminals 24/7, experiencing “stable, reliable” trade conditions that let them trade remotely from anywhere. The VPS is compatible with all operating systems, and you don’t have to install the MetaTrader 4 terminal to get it to work. There is a high data rate exchange between the main and remote servers, so the VPS is fast and smooth.
Educational content at MultiBank is limited to a series of basic videos and ebooks powered by MTE Media, which are available on a new dedicated education section on the broker’s website. I was pleased to see this new educational portal, and I’m looking forward to seeing more content from MultiBank. That said, this broker still has a long way to go if it wants to compete with the best brokers for education.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. I like the choice of trading instruments at MultiBank Group, ideal for all types of traders. It offers MAM/PAMM managers the necessary tools to provide effective asset management. Social traders also have access to the broadest market exposure, granting signal providers the diversity they need to stand out from the crowd, an invaluable asset.
Multibank’s research content caters to the needs of day traders and swing traders. The scope of its market breakdowns and trading signals varies but usually covers opportunities lasting from several hours to several days. I found those highly practical for traders seeking to exploit shorter-term trading opportunities.
I also learned that Multibank does not charge deposits and withdrawals but has a high inactivity fee. Multibank impresses with its wide range of share CFDs – over 20,000 – across some of the most widely traded markets in Europe, the US, Asia, and others. Stock traders can benefit from this diversity and choose assets with varying volatility levels. Additionally, I discovered that Multibank’s spreads on share CFDs are tight and generally better than the industry average, which makes its stock offering even more favorable.
- It is one of the most rigorously regulated brokers I have ever reviewed, with a strict commitment to transparency.
- The flexibility of the MT4/MT5 demo account option can create trading conditions as close as possible to live accounts, but no demo can substitute the experience and emotions of live trading.
- MultiBank Group does not rank highly in this category, due to the lack of any significant in-house or third-party research content.
- Founded in 2005, MultiBank has an exceptional track record and ranks among the most trusted Forex brokers operational today.
MultiBank’s global presence and ideal trading conditions make it one of the most competitive brokers around. Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. He earned a Bachelor’s degree in Economics and International Relations. Plamen’s broad experience has equipped him with the expertise to recommend the best forex brokers.