Multibank FX can be called a multi-featured Forex Broker that is providing brokerage service to about 320,000 customers belonging to 90 different countries worldwide. MultiBank offers a wide asset index, tight spreads, free VPS, leverage up to 30:1, MAM accounts, FIX/API, and a 20 percent deposit bonus as well.
- Foundation: MultiBank Exchange group was created in 2005.
- Headquarters: Its headquarters founded in Hong Kong, and there are now 20 more offices found all over the world.
- US Residents: This broker never allows any customers from the United States.
- Structured: The Multibank Group is being regulated by the FSC BVI, ASIC Australia, and more.
- Customer Bank Account Separation: Customer money is always held in a separate bank account.
- Website Language: The website of MultiBank supports English, Arabic, French, Russian, and some other languages.
- Customer Support: Customer support is not available 24/7, but you can get customer help 24/5 through live chat, phone, WhatsApp, and email.
MultiBank Fx Review Summary
- Broker Category: MultiBank is an ECN broker.
- Liquidity Providers: There are 20 plus providers.
- Exchange: The trading of Forex currencies like Metals, Commodities, Cryptocurrencies, and Equities is done.
- Platforms: Two operational platforms are Meta Trader 4, or you can say MT4, And Meta Trader 5 (known as MT5).
- Trading Time Zone: The time zone used for trading is GMT.
- Demonstrator Account: There is an option to create a demo account.
- Lowest Spread: The spread is very low, and it begins with 0.1 pip along with 6 dollars commissions on every traded lot that can be $100,000 on an ECN pro-type account.
- Leverage: The maximum trading leverage is about 30:1.
- Scalping or Hedging: This is possible, but trading that lasts less than 10 seconds is prohibited.
- Free VPS: There is the facility of free VPS for its clients.
- SWAP-Free Account: These accounts are accessible by the consumers.
- PAMM/MAM Accounts: Obviously, with all of the options, there is the option of PAMM/MAM accounts.
- Minimum Account: The requirement of minimum deposit is $50 for opening a Maximus account, while there is a need of $5,000 for an ECN Pro account.
MultiBank FX Deposit And Withdrawal Procedures:
The process of deposit and withdrawal can be done by the following methods:
- Bank Transfer
- Credit or Debit Cards
- Internet Accounts like Neteller, Skrill, PayTrust, FxBit, GlobePay, ThunderX, and many others.
- There is no requirement of fees for making deposits or withdrawals.
- Lastly, there is an inactivity fee for the accounts that are not active for 3 months. Furthermore, the monthly maintenance fee charged by MultiBank is 60 dollars.
The Final Thoughts:
After understanding all of the features of MultiBank, it is up to you whether you want to open an account with this broker or not. Before doing so, look at the MultiBank review provided by other broker reviewers’ websites. It will help you make the correct decision for your future.