Clients can get a 20% or 30% trading bonus subject to terms and conditions. The bonus can be converted to cash once a month, and clients must complete the trading requirements within 90 calendar days. This offering is generally geared towards high-volume scalpers and day traders.
What platforms does MultiBank Group offer?
A multi-asset broker, MultiBank offers forex and CFDs through the MetaTrader platform suite (though not all markets are readily available) as well as underlying crypto assets via its regulated crypto exchange. I consider Multibank an appealing option for beginners and day traders seeking a wealth of educational resources and trading opportunities. While the spread rate on the Standard account exceeds the industry average, the Pro and ECN accounts offer trading conditions that are more favorable compared to the industry average. Broken by asset class and compared to the industry average, Multibank offers low spreads on currency pairs, share CFDs and indices, low-to-average spreads on commodities, and high spreads on cryptocurrencies. This approach allows all website visitors to swiftly evaluate the competitiveness of the spread rates across all account types. I compared the data with the spread rates quoted on the platform and observed no discrepancies.
The Desktop Version of Multibank’s MT5 Platform
For the purposes of scalping, the best results can be achieved when the average execution speed falls below 50 milliseconds. Multibank Group has invested in developing its proprietary all-in-one Multibank-Plus platform with a simple and easy-to-use interface. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA). When we test a broker’s customer support, we evaluate the agent’s knowledge of their own website, how long it takes them to respond to questions, and how detailed their answers are.
What Are CFDs?
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. There are a total of 10 educational courses with free access to everybody, available from the website. The lessons cover a wide range of topics pertaining to the basics of trading, essential trading terms and concepts, CFDs trading, and more. Help is available via live chat, email, and over the phone in English, Spanish, French, Arabic, and other languages.
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The ebooks also have a heavy emphasis on the study of technical analysis but also focus on the psychology of trading. The videos introduce beginners to price trends and how to spot them, limefx company reviews trade them, apply risk management, and discern market noise from real price movements. I like that after covering each topic, you can practice what you have learned by taking a quiz.
- As a trader who prioritizes flexible chart scaling, I find MT5’s charting capability too rigid and less effective.
- The ease of scaling price action is, in my experience, its most critical aspect.
- Multibank’s Standard account is the most accessible one, with its minimum deposit requirement of $50.
In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight. In our Trust category assessments, we evaluate factors tied to stability and transparency, including the broker’s longevity, company size, and the transparency of information provided. 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.
The agents are generally knowledgeable and respond to queries fairly quickly. 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. On the other hand, its dated https://limefx.biz/ and rugged design falls short compared to newer, sleeker platforms. As a trader who prioritizes flexible chart scaling, I find MT5’s charting capability too rigid and less effective. In the image above, you can see how to measure a broker’s average execution speed.
I performed my tests on a Pro trading account using the desktop and mobile app versions of MetaTrader 5. The account was opened with the MEX Atlantic Corporation entity of the broker. Some features and services may vary depending on where you reside and which entity you open an account with. Overall, Multibank offers a well-calibrated set of services geared towards traders with various experience levels and trading styles. It accommodates the needs of those interested in copy trading, automated trading, day trading, and more. MultiBank Group holds multiple broker licenses in a variety of jurisdictions, including from Tier-1 regulatory bodies such as the Australian Securities & Investment Commission (ASIC) and the Monetary Authority of Singapore (MAS).
According to MultiBank Group’s website, the broker is well-capitalized with over $322 million in paid-up capital. To learn more about using MT4 or MT5 on your mobile device, read our MetaTrader guide or our MetaTrader 5 guide. The account opening process at MultiBank Group is relatively straightforward. Resources and applications for opening an account can be found within the client portal on the MultiBank Group website under the My MultiBank section. MultiBank Group rewarding Cashback Program is your best bet to make extra profits on your trades. The higher your trade volume in Forex and Metals, the more cashback you earn.
The broker also serves high-risk/yield traders via its huge cryptocurrency offering. Few brokers offer as many crypto CFDs, though it should also be stated that Multibank charges above-average spreads on instruments from the same asset class. The huge amount of share CFDs caters to the needs of stock traders, who can gain access to some of the biggest and most popular markets and exchanges in the industry. This is especially important given Multibank’s competitive trading fees on share CFDs. I have compiled the table below to help you better understand the difference between the trading fees of Mutlibank’s three account types and the industry average.
However, licenses obtained by regulators in different jurisdictions do not always entail the same degree of protection. Multibank operates through 10 entities, including five regulated by Tier-1 authorities and several offshore ones. It is one of the most rigorously regulated brokers I have ever reviewed, with a strict commitment to transparency. The broker meets all critical safety standards, including ensuring negative balance protection and the segregation of client funds. MultiBank Group’s best feature is its relatively high Trust Score; the broker holds multiple regulatory licenses, including Tier-1 licenses in Singapore and Australia.
Since then, the company established itself as one of the most regulated and trusted brokers in the online trading industry. It offers more than 20,000 tradable instruments across six asset classes, including forex, metals, indices, shares, and cryptocurrencies, on three account types with competitive pricing. Research and education at MultiBank Group brands have a long way to go to catch up to industry leaders, but the broker continues to make progress in other categories. I was happy to see that it has developed its own social copy trading platform, and spreads are competitive on its ECN Account offering. Making its entire range of markets available by default and adding more educational and research content would help to balance MultiBank’s overall offering.
Multibank offers demo accounts that introduce traders to the broker’s services and allow them to tweak their strategies in a risk-free environment. The market is continually evolving and never static, so it is important to hone your skills in a safe environment. You can set up a demo account for yourself alongside your live CFD account.
In this review, I tested MetaTrader 5, which features multiple essential tools, such as one-click trading, an alarm setting option, and a market depth tool. These allow traders to examine various market developments from different angles and to exploit the underlying trading opportunities in multiple ways. The Standard account requires just a $50 minimum deposit, but comes with higher relative spreads.