In this detailed Multibank Broker Review, we will review each aspect of the Multibank broker to see if this broker is a legit broker. Below is the summary of the Multibank Broker.
Summary
Assets Available | 5 Asset Classes – Forex, Crypto, Stocks, Commodities and Indices |
Regulated By | ASIC, BaFin, CySEC, FMA, SCA, CIMA, FSC, MAS, TFG, VFSC |
No. Of Trading Platforms | 3 Trading Platforms – MultiBank-Plus, MT4, MT5 |
Leverage | Up to 1:500 |
Spreads | From 0.0 pips |
Commission | From 0% |
Min Deposit | $50 |
Demo Account | Yes |
Education Provided | Basic trading education |
Methods of Payment | Credit/Debit Cards, Bank Wire Transfer, Neteller, Skrill, GCash and more. |
Open Account |
Top CFD Brokers
Best for Low Spreads | Best for Speed | Best for High Leverage |
 Fusion Markets is one of the top brokers that provide traders with low spreads (Risk warning: 76% of retail CFD accounts lose money) |  BlackBull markets is a great broker that provides traders with fast executions speeds. (Risk warning: 76% of retail CFD accounts lose money) |  Exness is a highly regulated broker that is best for high leverage trading. (Risk warning: 76% of retail CFD accounts lose money) |
Broker Background
MultiBank Group, established in 2005 in California, USA, is a globally recognized online broker. Now headquartered in Dubai, UAE, the company has grown into a leading provider of financial services with a strong international presence.
Regulated by top-tier authorities across five continents, MultiBank Group ensures compliance with the highest industry standards.
Serving a diverse client base of over 2 million customers across more than 100 countries, MultiBank Group continues to prioritize reliable solutions and quality service for its global clientele.
Trading Platforms
Score – 4/5 (Decent selection of trading platforms)
The MultiBank broker provides traders with 3 main trading platforms. These are, MetaTrader 4, MetaTrader 5, and MultiBank-Plus trading platform. MultiBank Broker doesn’t provide direct access to TradingView but the MultiBank Plus trading platform provides a similar interface to TradingView.
MultiBank-Plus Trading Platform
MultiBank-Plus is MultiBank Proprietary trading platform. The MultiBank-Plus trading platform is designed and developed to provide stability and enable real-time trading. The interface provided by this platform is similar to that of the TradingView trading platform which makes it easy to use.
This platform supports web and mobile trading. The MultiBank-Plus mobile trading app is downloaded by over 1 million users worldwide.
MetaTrader 4
MetaTrader 4 (MT4) is a popular trading platform specially among Forex traders. This trading platform is available across web, mobile and desktop. Its user-friendly design serves both new and seasoned traders. Equipped with essential tools for market analysis and trade execution, MT4 excels in supporting algorithmic trading.
MetaTrader 5
MetaTrader 5 (MT5) builds on the proven strengths of its predecessor by offering an expanded suite of technical indicators, thereby enhancing your market analysis and broadening your trading strategies. It also supports algorithmic trading, providing a flexible and robust platform that caters to a wide range of trading approaches.
Instruments Available For Trading
Score – 4.9/5 (Access to a huge amount of tradable instruments)
The MultiBank broker offers traders with 5 different asset classes. These are Forex, Shares, Commodities, Indices and Crypto. Across these asset classes there are over 20,000+ tradable instruments.
Forex
MultiBank broker provides access to over 55 major, cross, and exotic Forex pairs. This broker provides relatively low spreads on Forex pairs.
Shares
MultiBank broker offers over 20,000+ Share CFDs that you can trade. These include shares from numerous companies listed on major international stock exchanges.
Cryptocurrency
This broker provides access to diverse Crypto CFDs, enabling traders to speculate on price fluctuations of leading digital assets, including Bitcoin, Ethereum and Litecoin.
Commodities
Traders can access a variety of Commodity CFDs through MultiBank broker, allowing them to speculate on price movements in precious metals (gold, silver), energies (oil, natural gas), and other essential commodities.
Indices
MultiBank broker offers traders access to a range of major global indices such as NASDAQ, German DAX Index, US Wall Street 30 Index and more.
Regulations & Security Measures
Score – 4.9/5 (Regulated by top tier regulators)
Regulations
MultiBank Broker is a highly regulated broker that is regulated by 10 different Regulators across 10 different countries. MultiBank Broker is regulated by:
- Australian Securities and Investments Commission (ASIC) in Australia.
- Cyprus Securities and Exchange Commission (CySEC) in Cyprus.
- Federal Financial Supervisory Authority (BaFin) in Germany.
- Financial Markets Authority (FMA) in Austria.
- Securities and Commodities Authority (SCA) in UAE.
- Cayman Islands Monetary Authority (CIMA) in Cayman Islands.
- British Virgin Islands Financial Services Commission (BVI) in British Virgin Islands.
- Monetary Authority of Singapore (MAS) in Singapore.
- Tianjin Financial Government (TFG) in Tianjin.
- Vanuatu Financial Services Commission (VFSC) in Vanuatu.
Is it Trustworthy and Safe to trade with MultiBank?
It is generally considered safe to trade with the MultiBank broker. This is due to it’s strong regulatory framework. However, it’s wise for prospective users to verify the specific legal entity they register with, ensuring they benefit from the highest level of protection available.
Live Trading Account Types
The MultiBank broker provides 4 main account types for live trading. These are,
- Standard Account
- Pro Account
- ECN Account
- Islamic Account
Commissions And Spreads
Score – 4.5/5 (Relatively low fees)
The commissions and spreads depends on the account type. For the standard account, the spreads starts from 1.5 pips and no commission is charged. For the Pro account, the spreads starts from 0.8 pips for forex pairs and no commission is charged. For the ECN account, the spreads start from 0.0 pips and the commission charged is $3 per lot.
The table below shows the comparison of MultiBank broker with other brokers for the low spread account.
| MultiBank | Fusion Markets | Exness Broker | |
| Commission | $3.0 per side | $2.25 per side | From $0.05 per side |
| Spreads | from 0.0 pips | from 0.0 pips | from 0.0 pips |
As seen from the comparison the commission charged by the MultiBank account is low but not the lowest in the industry.
Leverage
Score – 3.5/5 (Average leverage)
The MultiBank broker provides a maximum leverage of up to 1:500 depending on the country & the financial instrument you are trading. The table below shows the comparison of this leverage with other brokers.
| MultiBank | Exness Broker | XM Broker | |
| Leverage | 1:500 | 1:2000+ | 1:888 |
As seen from the above table, the MultiBank broker is not the best for high leverage trading.
Education Provided
Score – 3.5/5 (Basic trading education)
The MultiBank broker provides valuable educational resources to traders specially beginners. This education is good to help you get started with trading.
Minimum Deposit
Score – 3.5/5 (Average deposit size required)
To open an account with the MultiBank broker you require a minimum deposit of $50 for the Standard account. For other account types, you require a larger minimum deposit. This is relatively high compared to many other brokers who doesn’t require a minimum deposit to open an account.
Awards
Score – 3.5/5 (Have won some awards)
MultiBank broker is an award-winning broker, recognized by few different organizations. In 2020, MultiBank was named the Best Forex Broker by Global Brands Magazine.
Methods Of Payment (Deposit and Withdrawal)
There are several deposit and withdrawal options provided by the MultiBank broker. The figure below shows the methods of payments provided by the MultiBank Broker. It is important to note that not all of these payment methods will be available in every country.
Customer Service
Score – 4.5/5 (Good customer support available 24/7)
When it comes to customer support, the MultiBank broker provides traders with 24/7 customer service. Traders can contact the MultiBank broker customer support through multiple contact methods. These are:
- Live Chat
- Phone
Demo Accounts
MultiBank broker provides free demo accounts where you can practice forex trading with virtual funds in a risk-free environment. It’s an excellent opportunity to gain hands-on experience and test your trading strategies without any financial risk. It is important to note that almost all the brokers provide demo accounts for traders.
Pros & Cons
The table below shows the Pro’s and Cons of the MultiBank broker
| Pros | Cons |
| Well regulated | Average Leverage |
| Relatively low fees | Average minimum Deposit |
| Good selection of Financial Instruments |
Is this broker legit?
Yes, the Multibank broker is a legit broker that is regulated by top tier regulators.
Multibank broker also provide great features for traders as well.
Multibank Alternative Brokers
Multibank is a great broker but there are alternatives to the MultiBank broker depending on your needs. They are the following.
- Exness – Exness Broker is a great broker that provides retail traders, depending on the country, with high leverage of more than 1:2000+. Much higher leverage than the MultiBank broker. In addition to this Exness also provides lower fees and lower minimum deposit.
- Fusion Markets – Fusion Markets provides traders with much lower fees than the Multibank broker.
- BlackBull Markets – BlackBull Markets provides traders with faster execution speeds and more tradable instruments than the Multibank broker.
Our Evaluation Methodology
We assess brokers through a comprehensive rating system that involves examining more than 100 data points across key categories. Our approach includes the following:
- Trust and Regulation – We verify each broker’s regulatory status and licenses to ensure they operate under the supervision of credible financial authorities, ideally tier 1 regulators.
- Cost Analysis – We scrutinize trading fees and compare them against industry standards by setting up and trading within live accounts.
- Platform Performance – We evaluate the trading platforms’ functionality, user interface, and available tools by conducting hands-on testing.
- Instrument Availability – We assess the diversity and range of tradable assets offered by each broker.
- Customer Service – We test the accessibility and competence of customer support by reaching out via various channels.
- Transaction Methods – We review the deposit and withdrawal options, focusing on fees and processing times.
- Account Variety – We analyze the different account types, considering their features, minimum deposit requirements, and execution methods.
- Educational Resources – We examine the quality and breadth of educational materials provided to help traders improve their knowledge and skills.
Conclusion
In this article, we reviewed MultiBank broker in depth to determine its legitimacy. We concluded that MultiBank is indeed a legitimate broker that offers great features for traders but is not ideal for those seeking high leverage trading and the lowest fees in the industry.
