Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information. MultiBank Group’s recognition as a top BaFin-regulated forex broker underscores its dedication to providing traders with superior services and robust security measures.
Top BaFin-Regulated Forex Broker MultiBank Group
At the time of writing this review of MultiBank Group, we get to know that it has more than 1,000,000 clients offering more than 20,000 trading instruments and 30,000 introducing brokers across 20 offices and branches worldwide. I like the choice of trading instruments at MultiBank Group, ideal for all types of traders. It offers MAM/PAMM managers the necessary tools to provide effective asset management. Social traders also have access to the broadest market exposure, granting signal providers the diversity they need to stand out from the crowd, an invaluable asset.
It’s good to use this broker
DUBAI, United Arab Emirates, July 10, (BUSINESS WIRE)–MultiBank Group is pleased to announce its recognition as “Best Bitcoin Broker for Professional Traders” by FXEmpire, a leading financial markets authority. A cashback program, which gives rebates on trading in volume in Forex currency pairs and metals, is also offered. Both are readily available online from trusted sources, but MultiBank Group does cater to beginner traders, and it would be nice to see some educational offerings. However, this should not be a deal breaker for anyone as there is plenty of good free educational material available widely on the internet, MultiBank also offers newsletters weekly.
Commodities
For example, if you deposit $1,000 of trading funds to receive a $200 promotional deposit bonus, the volume requirement to redeem the bonus would be 80 standard lots – or 8,000,000 units of currency. When trading at that volume, you can easily end up earning (or losing) far more than the initial deposit bonus amount. The spread you’d end up paying to trade eight million units of currency will end up being greater than the deposit bonus. Yes, deposit bonuses offered by MultiBank Group are legit, but that doesn’t necessarily mean you’ll be able to redeem them. 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.
Table of Contents
The Pro account is suitable for traders looking to take advantage of zero commissions, tight spreads, and instant execution. limefx official site, established in 2005, has an unblemished regulatory record, with over 11 financial regulators and over 25 branches worldwide. MultiBank Group holds multiple broker licenses in a variety of jurisdictions, including from Tier-1 regulatory bodies such as the Australian Securities & Investment Commission (ASIC) and the Monetary Authority of Singapore (MAS). MultiBank Group’s best feature is its relatively high Trust Score; the broker holds multiple regulatory licenses, including Tier-1 licenses in Singapore and Australia.
MultiBank Group was established in California, USA, in 2005, and is headquartered in Dubai, UAE. MultiBank Group holds multiple awards that make it an impressive foreign exchange broker in various areas that are beneficial for seasoned traders. MultiBank offers various tools like VPS hosting, FIX API, and MAM/PAMM for money managers and professional traders. FIX API offered by the MultiBank Group is a unique turnkey solution for high-volume and institutional clients looking for direct access to the financial market. The reality is that only 1042 markets are available by default on its MetaTrader platforms.
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- Since then, we have evolved into one of the largest financial derivatives companies worldwide, with a current paid-up capital of over $322 million.
- MultiBank Group’s recognition by FXEmpire as the “Best Bitcoin Broker for Professional Traders” highlights its dedication to providing top trading conditions and robust security measures for Bitcoin traders.
- Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry.
Assistance is provided on a variety of queries covering topics like deposit and withdrawal methods, broker fees, available asset classes, live/demo accounts, trading account settings and pricing, and many more. The Introducing Brokers (IBs) program on MultiBank FX is exclusively tailored to boost potential returns and grow businesses. Introducing Brokers are individuals who act as agents to introduce new trades to forex brokers like MultiBank https://limefx.biz/ FX. The platform caters to more than 30,000 IBs and partners with global leaders in the financial market. MultiBank understands the need to offer a wide variety of calculators to guide traders on their forex trading journey. To this end, the platform has introduced 6 trading tools, including a currency converter, Fibonacci calculator, pivot point, stop loss or take profit levels, margin calculator, and pip value calculator.
A generous bonus offering adds to the benefits available at MultiBank Group, which is one of the best overall brokers for committed traders. MultiBank Group lists 23 phone numbers, provides live chat, video conferencing via Zoom and Microsoft Teams,WhatsApp and e-mail support. One of the most widely ignored trading costs is swap rates on leveraged overnight positions.
The minimum deposit for the MultiBank Group Standard account is $50 or a currency equivalent. I strongly recommend the ECN account despite its high deposit requirement. Traders will get the most benefits from it due to excellent trading costs. Two unique features I want to note are free VPS hosting and FIX API trading. The former supports algorithmic trading, which accounts for 80% of all trades at this broker.
I was happy to see that it has developed its own social copy trading platform, and spreads are competitive on its ECN Account offering. Making its entire range of markets available by default and adding more educational and research content would help to balance MultiBank’s overall offering. MultiBank Group offers one of the safest trading platforms closely supervised by more than 10 financial regulators around the world across multiple jurisdictions that guarantee protection to investors and traders. It is regulated by AUSTRAC, BAFIN, ASIC, CIMA, ESCA, FMA, MAS, FSC, VFSC, and TFG. They are available as a desktop client, with full support for EAs, where MT4 remains a market leader. I would really like it if MultiBank Group would offer in the future some of the third-party platform plugins to ensure that short time frame traders can get a more competitive analytical edge, matching its excellent trading costs.
Educational content at MultiBank is limited to a series of basic videos and ebooks powered by MTE Media, which are available on a new dedicated education section on the broker’s website. I was pleased to see this new educational portal, and I’m looking forward to seeing more content from MultiBank. That said, this broker still has a long way to go if it wants to compete with the best brokers for education.
I appreciate that MultiBank Group invested in the development of a proprietary copy trading platform. Together with its MAM/PAMM accounts, it presents an excellent choice for asset managers, especially those geared towards equity portfolios. MultiBank Group offer a choice of 55+ currency pairs, 5 cryptocurrency pairs, 6 commodities, 6 index CFDs, 15,000+ equity CFDs, and 13 index futures. Forex traders get an averagely ranged choice of trading instruments, while equity traders get one of the best in the industry. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.