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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.
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.
| Forex | MultiBank Group | City Index | XTB |
| EUR/USD(Average: 0.7 pips) | 0.8 pips | 0.7 pips | 0.1 pips |
| GBP/USD(Average: 1.1 pips) | 1.0 pips | 1.7 pips | 0.1 pips |
| USD/JPY(Average: 1.1 pips) | 0.9 pips | 0.6 pips | 0.1 pips |
| AUD/USD(Average: 0.8 pips) | 0.9 pips | 0.6 pips | 0.2 pips |
| USD/CHF(Average: 2.3 pips) | 1.0 pips | 2.3 pips | 0.2 pips |
| USD/CAD(Average: 2.9 pips) | 1.3 pips | 0.5 pips | 0.3 pips |
| NZD/USD(Average: 3.6 pips) | 2.3 pips | 2.8 pips | 0.3 pips |
| EUR/GBP(Average: 2.4 pips) | 1.5 pips | 0.5 pips | 0.1 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.
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 Group | XTB | AvaTrade | |
| 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 Group | VISIT XTB | VISIT 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 / Currencies | MultiBank Group | XTB | AvaTrade |
| # of forex pairs offered | 55+ | 48 | 59 |
| Major forex pairs | Yes | Yes | Yes |
| Minor forex pairs | Yes | Yes | Yes |
| Exotic forex pairs | Yes | Yes | Yes |
| Cryptocurrencies* | Yes | Yes | Yes |
| Commodity CFDs | MultiBank Group | XTB | AvaTrade |
| # of commodities offered | 19 | 21 | 16 |
| Metals | Yes | Yes | Yes |
| Energies | Yes | Yes | Yes |
| Agricultural | Yes | Yes | Yes |
| Index & Stock CFDs | MultiBank Group | XTB | AvaTrade |
| # of stocks offered | 20000+ | 1606 | 99 |
| UK shares | Yes | Yes | Yes |
| US shares | Yes | Yes | Yes |
| German shares | Yes | Yes | Yes |
| Japanese shares | Yes | Yes | Yes |
| SEE MultiBank Group’S INSTRUMENTS | SEE XTB’S INSTRUMENTS | SEE AVATRADE’S INSTRUMENTS |
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.
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.
79% of retail investor accounts lose money when trading CFDs with this provider.
