CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

MultiBank Group

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Home » Reviews » MultiBank Group

MultiBank Group Review

MultiBank Exchange Group is a provider of forex trading services. Traders can access a wide range of products in a variety of markets, including currencies, indices, shares and commodities.

Pros

  • Segregates client funds
  • Established in 2005
  • Regulated by ASIC, FSC, BaFin, CNMV, FMA
  • Min. deposit from $50

Cons

  • Limited range of instruments

A minimum deposit of $50 is required for a live account. MultiBank Group on the other hand, provides a free demo account that you may utilize to experiment and familiarize yourself with their platform.

Regulated by ASIC (AFSL #416279). MultiBank Group client funds are held in a segregated bank account and they work with tier-1 banks. MultiBank Group was established in 2005, and their head office is located in HK.

Before we get into the specifics of MultiBank Group’s spreads, fees, platforms, and trading tools, you might want to open their website in a new tab by clicking the button below to get the most up-to-date information directly from the company.

VISIT MULTIBANK GROUP

Disclosure: If you sign up with a broker through one of our links, we may receive a commission.

What are MultiBank Group’s spreads & fees?

MultiBank Group, like most brokers, charges a fee based on the spread, or the difference between the bid and ask price of an instrument.

The commissions and minimum spreads shown here are taken from MultiBank Group’s website.

ForexMultiBank GroupCity IndexXTB
EUR/USD(Average: 0.7 pips)0.8 pips0.7 pips0.1 pips
GBP/USD(Average: 1.1 pips)1.0 pips1.7 pips0.1 pips
USD/JPY(Average: 1.1 pips)0.9 pips0.6 pips0.1 pips
AUD/USD(Average: 0.8 pips)0.9 pips0.6 pips0.2 pips
USD/CHF(Average: 2.3 pips)1.0 pips2.3 pips0.2 pips
USD/CAD(Average: 2.9 pips)1.3 pips0.5 pips0.3 pips
NZD/USD(Average: 3.6 pips)2.3 pips2.8 pips0.3 pips
EUR/GBP(Average: 2.4 pips)1.5 pips0.5 pips0.1 pips

The spreads are variable and are displayed for information purposes.

As you can see, MultiBank Group’s minimum EUR/USD spread is 0.8 pips, which is normal when compared to the average EUR/USD spread of 0.70 pips.

The table below compares the costs of trading one lot of EUR/USD with MultiBank Group vs. similar brokers.

SEE ALL SPREADS

How much does MultiBank Group charge to trade 1 lot of EUR/USD?

You would likely spend $15.1 if you bought one standard lot of EUR/USD (100k units) with MultiBank Group at an exchange rate of 1.1719 and then sold it the next day at the same rate.Here’s a quick rundown of the fees and how they compare to Avatrade and XTB.

MultiBank GroupXTBAvaTrade
Spread from:$ 8.00$ 2.00$ 7.00
Commission:$0.00$0.00$0.00
Total cost of a 100k trade:$ 8.00$ 2.00$ 7.00
$4 less$1 more
VISIT MultiBank GroupVISIT XTBVISIT AVATRADE

Fees and quotes are displayed for information purposes and could change.

What can you trade with MultiBank Group?

Over 20,000 different instruments, including over 55 currency pairs, are available to trade at MultiBank Group. Below, we’ve summarised all of MultiBank Group’s several types of instruments, as well as the instruments given by Avatrade and XTB for comparison.

FX / CurrenciesMultiBank GroupXTBAvaTrade
# of forex pairs offered55+4859
Major forex pairsYesYesYes
Minor forex pairsYesYesYes
Exotic forex pairsYesYesYes
Cryptocurrencies*YesYesYes
Commodity CFDsMultiBank GroupXTBAvaTrade
# of commodities offered192116
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalYesYesYes
Index & Stock CFDsMultiBank GroupXTBAvaTrade
# of stocks offered20000+160699
UK sharesYesYesYes
US sharesYesYesYes
German sharesYesYesYes
Japanese sharesYesYesYes
SEE MultiBank Group’S INSTRUMENTSSEE XTB’S INSTRUMENTSSEE AVATRADE’S INSTRUMENTS

Visit MultiBank Group

What’s the MultiBank Group trading experience like?

1) Platforms and apps

Multibank Group is among the few brokers that provides both the MetaTrader 4 and MetaTrader 5 platforms. To discover how the two systems differ, check out our MT4 versus MT5 comparison. MultiBank Group also offers their Pure ECN Pro platform, which is unique to them. Traders can trade on their preferred device thanks to a combination of downloadable programs for Mac and Windows.

They offer Android and iOS mobile apps, making it easy to keep track of and execute deals while on the go.

SEE MULTIBANK’S PLATFORMS

Still not sure?

Open a demo account and learn how to trade.

2) Executing Trades

You can trade as little as 0.01 Lot with MultiBank Group. Depending on the account you open, this may differ. MultiBank Group’s maximum trade size also depends on your choice of account. You can expect tighter spreads and more transparency over the price you pay to execute your trades because MultiBank Group offers ECN execution. ECN accounts have a commission and are more popular among traders who use high-volume tactics, such as scalping and automated trading.

MultiBank Group, as a market maker, may have lower entrance criteria than an ECN broker, which benefits from the bigger number of trades and often has higher capital and minimum trading requirements.

Market makers usually offer a lower minimum deposit, fewer minimum trade requirements, and zero commission trading.

Margin requirements vary by trader, account, and instrument, as they do with most brokers. On their website, you may see the most recent margin and leverage details.

We have included a list of some of the most common funding options that MultiBank Group provides to its traders.

Trading Features:

  • Allows scalping
  • Allows hedging
  • Low min deposit

Accounts offered:

  • Demo account
  • Micro account
  • Standard account
  • ECN account
  • Managed account
  • Islamic account

Funding methods:

  • Credit cards
  • Bank Transfer
  • Skrill
  • Neteller

3) Client support

MultiBank Group offers support in many languages like English, Russian, Spanish, Arabic, Chinese, Italian, Polish and German.

4) What you’ll need to open an account with MultiBank Group

Because MultiBank Group is regulated by ASIC, FSC, BaFin, CNMV, FMA, every new client must pass a few simple compliance tests to confirm that you are aware of the risks associated with trading and that you are permitted to trade. You’ll probably be asked for the following information when you register an account:

  • a color copy of your passport, driver’s license, or other government-issued identification
  • a three-month utility bill, bank or credit card statement that shows your current address

You’ll also need to answer a few questions regarding your trading experience, so set aside at least 10 minutes to finish the account opening procedure.

You may be able to explore their platform right away, but you will not be allowed to make any transactions until you pass verification, which depending on the circumstances could take from a few hours up to a few days.

To begin the on-boarding process with MultiBank Group, you can go to their website.

MultiBank Group

Open a demo account

79% of retail investor accounts lose money when trading CFDs with this provider.

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