Evaluation and Ratings of the MultiBank Group
MultiBank Group Details about the business
The MultiBank Group is made up of various associated corporations.
MultiBank AU, based in Australia, is regulated by the Australian Securities and Investments Commission (ASIC). Similarly, MultiBank AT in Austria is regulated by the Financial Market Authority (FMA), MultiBank DE in Germany is overseen by the Bundesanstalt fur Finanzdienstleistungsaufsicht (BaFin), MultiBank ES is in Spain and is under the purview of the Comision Nacional del Mercado de Valores (CNMV).
MultiBank SG in Singapore is authorized by the Monetary Authority of Singapore (MAS), MultiBank UAE in the United Arab Emirates is regulated by the Dubai Financial Services Authority (DFSA) and MultiBank BVI in the British Virgin Islands is regulated by the BVI Financial Services Commission (BVIFSC). Lastly, MultiBank KY in the Cayman Islands is regulated by the Cayman Island Monetary Authority (CIMA).
Due to the European Securities and Markets Authority (ESMA), all EU companies have certain trading restrictions in place. Similarly, at the end of March 2021, the Australian Securities and Investments Commission (ASIC) has imposed leverage limitations on AU companies. Fortunately, BVI and KY companies still allow traders from Europe and Australia to open trading accounts.
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MultiBank Group allows customers from the majority of nations on the globe, with the exception of the USA, Iran, Iraq, and certain other places with imposed regulations.
- Various government agencies have granted authorization and regulation in numerous areas.
- Investment chance to emulate the investments of successful traders.
- If the sum of the deposit is over $20,000, the commission fees will be $1 per side.
- Bonuses, such as a 20% deposit bonus, are accessible.
- Over a thousand stocks are available for trading.
- Complimentary VPS hosting is provided for the customers.
- Narrow spreads on key currency pairs.
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Instruments for Exchange
In the world of finance, there are a variety of instruments that are used for trading. These instruments range from stocks and bonds to commodities and derivatives. Each of these instruments carries its own unique set of risks and rewards, and it is important to understand each one before making any investments. Understanding the different instruments can help investors make informed decisions and maximize their returns.
Traders can access a variety of underlying assets via a Forex broker.
More than 35 foreign exchange pairs are available, based on major and minor world currencies. Five crypto pairs are derived from Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple. Fourteen indices of cash CFDs, based on a selection of blue-chip stocks and the Volatility Index, are also offered. Moreover, there are six index futures based on a variety of blue-chip stocks and the US Dollar Index. Three metal spot CFDs are based on gold, silver, and platinum, while one metal future is derived from copper. Additionally, two energy spot CFDs are based on Crude Oil (WTI, Brent) and three energy futures are sourced from Crude Oil (WTI, Brent) and Natural Gas. Lastly, over 1000 stock CFDs are based on shares of AU, US, UK, EU, and HK companies.
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MultiBank is a big international forex & CFD trading provider with branches in a lot of countries. Therefore, it holds regulation in multiple jurisdictions, such as Germany’s BaFin, the Australian Securities and Investments Commission (ASIC), and the Austrian Financial Market Authority (FMA) being the most noteworthy.
MultiBank was established in the US in 2005 with the name MultiBank Forex Exchange Corporation. Unfortunately, the company is not regulated in the US and, like many other brokers, does not accept US citizens as customers.
Unlike a lot of other brokers, MultiBank concentrates its attention mainly on stock trading, with CFDs from more than 15,000 firms available. On top of that, they also offer a selection of CFDs related to several stock indices, digital currencies, and commodities. When it comes to forex, about 50 currency pairs are on offer, which comes close to the selection provided by most brokers.
In contrast to other extensive brokerages, MultiBank does not provide trading services for ETFs, interest rates, or bonds.
MultiBank Group has decided to concentrate solely on the MetaTrader software for their trading platform, offering both MT4 and MT5, plus a web-based version. The website may seem confusing since it refers to “ECN Pro,” “MultiBank Pro,” and “Maximus” platforms; however, these are all just different types of accounts on the same two MT4 or 5.
The ECN Pro account, while offering the lowest spreads at 0.0 pips, requires a minimum deposit of USD 5,000, thus making it inaccessible to smaller traders.
For traders who wish to go for a more attainable account, the MultiBank Pro is the one to pick. This requires a minimum deposit of USD 1,000 and spreads can start from 0.8 pips.
If you’re new to trading, the Maximus account could be the perfect fit. Spreads start at 1.4 pips, and the minimum deposit is only USD 50.
MultiBank Group has three main accounts, as well as a swap-free Islamic account created for Muslim traders, and a demo account to practice paper trading.
Negative balance protection is a standard feature of all account types, as is the case in the European Union and some other areas. Traders who are registered with one of the subsidiaries of MultiBank, located outside of the EU and Australia, can access high leverage up to 1:500. The latest regulatory requirements from ASIC and ESMA, however, limit the maximum leverage to 1:30 for the Australian entity and the EU-based entities in Germany, Austria, and Spain.
Nearly all countries that MultiBank operates in, such as many European nations, numerous countries in Asia and the Middle East, the US, South Africa, and some South American countries, can access customer support through local phone numbers. Additionally, clients, both new and existing, can get in touch with the broker by email or live chat.
MultiBank‘s customer service is available 24/7, just as is customary with leading foreign exchange brokers.