Note that if you trade instruments in other currencies, standard conversion fees may apply. Offering both MetaTrader 4 and 5 is a big plus (nearly all forex brokers support these, and MultiBank’s implementations include news and VPS support). The new MultiBank-Plus platform shows promise with a slick interface, but it still has room to grow. At present, MultiBank-Plus is still being developed; it lacks some order types and advanced risk tools compared to MT4/5. Overall, it’s a nice “all-in-one” portal, but not yet as powerful as dedicated platforms. This is much the same as the Standard account but with a higher minimum deposit and better spreads.
Trading Top 3
Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. Withdrawals must be made to accounts under the same name as the account holder, ensuring security and compliance. The processing time for withdrawals is typically up to 24 hours, which I found to be quite efficient. Scalping and EA-use is available and instant execution is part of this package too. Germany’s BaFIN is among the license-providers of MultiBank Group too, as is the Cayman Island’s CIMA (Cayman Islands Monetary Authority), and the BVI’s FSC.
- Such bonuses come with steep volume requirements that must be met before redemption is allowed, and it’s possible for your losses to far offset the amount promised by the bonus.
- These platforms are available on desktop, web, and mobile devices, allowing traders to manage their accounts and execute trades from anywhere, at any time.
- That said, if you’re an intermediate or advanced trader, I think it’s well worth the transition.
The latter includes social and copy trading tools making it a good choice for beginners. The Pro Account is an option for experienced traders and offers many tools to help boost trading strategies. This account has spreads starting at 0.8 pips and asks for a minimum deposit of $1000. 22 Aug 2023BaskervilleOne of the standout features for me has been MultiBank’s order execution speed. The broker ensures rapid trades, minimizing slippage, especially crucial in high volatility periods. Daily insights, charting tools, and expert analyses have significantly aided my trading decisions.
The broker’s commitment to quality service and excellent trading conditions is evident in various aspects of their operations. The execution of trades is not just satisfactory but excellent, and the stability of their trading platform ensures a smooth and uninterrupted trading experience. The competitive spread offered further enhances the overall appeal for traders seeking optimal conditions for their financial activities. A standout advantage is the expeditious withdrawal of funds to WebMoney, a process completed within a mere half-day. In my interactions with MultiBank Group, I’ve found their service to be exemplary, and I appreciate the respectful attitude they maintain towards their clients. It is refreshing to encounter a broker that not only meets but exceeds expectations, showcasing a commitment to client satisfaction that goes beyond the ordinary.
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10 Nov 2023AlexisMultiBank Group stands out prominently in the European trading landscape, and my decision to engage with them was influenced by a friend’s recommendation. Now, after two years of trading with them, I can confidently attest to a positive and lucrative experience. Over this period, I’ve not only preserved my initial deposit but have seen a remarkable 120% increase in income, all while adhering to prudent risk management practices.
Is MultiBank regulated in the UAE?
Swap-free accounts waive all swap charges or credits on overnight positions, adhering to Islamic faith principles that don’t permit the use of riba. Accounts without swaps are available for Standard and Pro account types, but not for ECN accounts. Steven Hatzakis is a well-known finance writer, with 25+ years of experience in the foreign exchange and financial markets. He is the Global Director of Online Broker Research for Reink Media Group, leading research efforts for ForexBrokers.com since 2016. Steven is an expert writer and researcher who has published over 1,000 articles covering the foreign exchange markets and cryptocurrency industries. He has served as a registered commodity futures representative for domestic and Worldtradex forex brokers reviews internationally-regulated brokerages.
#1 FOREX MENTOR IN ASIA
Industry-standard MetaTrader 4 & 5 are available, along with their many tools and features. MetaTrader 4 is ideal for beginner traders and those who are still learning. However, MetaTrader 5 is an upgraded version with many analytical tools. Presented below is our full MultiBank review for UAE-based traders and investors.
MultiBank Group offers a robust selection of educational resources aimed at helping traders grow their knowledge and confidence. Whether you’re just starting out or looking to refine advanced strategies, their platform provides structured learning on trading basics, key market terms, and the use of trading tools. MultiBank Group offers a suite of trading platforms tailored to meet the needs of traders at every level. Users can access the popular MetaTrader 4 (MT4), MetaTrader 5 (MT5), Multibank.io, and the proprietary MultiBank-Plus platform.
Some of the top assets traded include EUR/USD, Gold, and BTC/USD, among others. Those who are afraid to risk real money in trading will be glad to know that MultiBank Group does offer a demo account. The demo account comes with pre-loaded virtual funds in the amount of $ 100,000 and provides access to all the platforms and financial products listed above. Those afraid to risk real money on trading, will be glad to learn that MultiBank Group do indeed offer a Demo Account. The Demo account comes https://worldtradex.biz/ preloaded with $100,000 in virtual funds, and it provides access to all the above listed platforms and financial products.
- The support team is available 24/7 via live chat, email, and phone, ensuring that help is always accessible when you need it.
- MultiBank is fully commission-free, although trading charges vary depending on the asset or instrument exchanged.
- The brokerage features a platform/account type combo, which makes use of all these pricing assets, to come up with the best possible prices for MultiBank Group’s traders.
- To improve services in this area, a wider range of resources could be introduced.
- The platform – which can be downloaded for free, directly from the MultiBank Group website – comes with more than 50 pre-installed technical indicators.
Customer Service
In the Forex market, you can trade a wide array of currency pairs, including major, minor, and exotic pairs. The platform’s tight spreads and high liquidity make it an attractive option for both novice and experienced forex traders. From stat-arb and trend-following CTA to fixed-income relative value. Firm’s he has worked at include big banks like Citi, and prominent hedge funds including D.
Unlike other bonuses that provide additional margins, this bonus serves to hold your trading drawdown, enabling you to take slightly more aggressive trades for increased profitability. 22 Aug 2023Harry WallisI’ve had an overall good experience with MultiBank. The platform is user-friendly and seems to be designed keeping traders of all levels in mind. However, there have been a few instances where navigation became a tad confusing, especially with so many features available. The process is straightforward, and funds typically reach my account within the promised timeframe, although there were once or twice when it took a bit longer.
However, the spreads can widen significantly during major news releases. MultiBank Group offers a competitive environment for professional traders. I appreciate their range of account types and the diversity of trading instruments. Customer support is prompt, but I’ve noticed occasional slippage during volatile market conditions. Choosing the right Forex broker is a critical step for anyone venturing into the world of Forex trading.
