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MultiBank Group
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MultiBank Group

Cyprus
2005-01-01
1
5.28
Rating Index
Software
8.87
Licensed
2.73
Risk Control
2.99
Experience
9.19
Institution
6.38
Industry Classification
D
Unqualified
Trading Platforms
MT4

Basic Information

  • Registered Region
    Cyprus
  • Operation Status
    Abnormal
  • Operating Period
    2005-01-01
  • Deposit Methods
    Visa, MasterCard, Bank Transfer, Neteller, Skrill, etc.
  • Website
  • Market Type
    Foreign exchange
  • Support Languges
    English
    Chinese
    Vietnamese
    Arabic
    Spanish
  • Main Business
    Forex, metals, shares, indices, commodities, cryptocurrencies
  • Business Type
    Multi-asset broker
  • Social Media
  • Contact Details
  • Type of Accounts
    Standard
  • Trading Platforms
    MT4
  • Withdraw Methods
    Not disclosed
  • Auto Trading
    EA supported

Pros and Cons

Pros: Highly regulated; Wide range of trading platforms; Competitive spreads; Low minimum deposit; Multi-channel customer support; Copy trading available; Demo and Islamic accounts supported; Cons: High minimum deposit for Pro and ECN accounts; Issues with withdrawal processing reported by users.

Company Background

MultiBank Group was founded in 2005 in California, USA. The broker has expanded its operations globally and now has offices in various locations including Cyprus, Dubai, and Singapore. MultiBank Group aims to provide competitive pricing and advanced trading tools, and has established itself as a significant player in the financial industry, claiming to serve thousands of traders worldwide.

Fund Security

MultiBank Group is regulated by ASIC, CYSEC, SCA, and MAS. It provides client fund protection through segregated accounts and offers excess loss insurance of up to $1 million per account. The broker has implemented risk management practices to ensure the safety of clients' funds and operates with a strong paid-up capital.

Account Opening

MultiBank Group offers three account types: Standard, Pro, and ECN. The required minimum deposit starts at $50 for the Standard account, $1,000 for the Pro account, and $10,000 for ECN accounts. The registration process is straightforward, requiring users to complete KYC verification, after which they can access a demo account for practice.

Trading Fees

The fee structure varies by account type. Standard accounts start with spreads from 1.5 pips, Pro accounts from 0.8 pips, and ECN accounts from 0.0 pips. No commissions are charged on trades across all accounts. Reports of potential hidden fees or withdrawal issues have been noted by users.

Trading Instruments

MultiBank Group provides access to over 20,000 trading instruments including Forex pairs, commodities (like gold and oil), major stock indices, and several cryptocurrencies. Notable examples include EUR/USD for Forex, XAU/USD for metals, and major indices such as S&P 500 and NASDAQ.

Trading Technology

The broker utilizes advanced trading platforms including MT4, MT5, and MultiBank-Plus. These platforms are designed for high execution speeds and provide a range of tools including technical analysis features, algorithmic trading options, and mobile accessibility. The technology supports various trading order types and includes comprehensive charting tools.

Research and Education

MultiBank Group offers educational resources that include webinars, tutorials, eBooks, and trading courses aimed at both beginners and advanced traders. Market analysis tools and economic calendars are also provided to assist traders in making informed decisions.

Customer Support

Customer service is available 24/7 via live chat, email, and phone support. The support team is reported to be responsive and helpful; however, some users have mentioned delays in addressing complaint issues, particularly those related to withdrawals. MultiBank Group also operates social media channels for customer engagement.
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Rating Instructions
Rating Index
MultiBank Group
MultiBank Group
Regulated
Legal Environment
8.87
License Value
2.73
Risk Management
2.99
Investor Protection
9.19
Regulatory Policy
6.38
  • Software

    Evaluates the regulator's legal foundation, organizational structure, leadership experience, and enforcement capacity. Focuses on whether it enforces strict regulations, maintains transparency and fairness, and engages in international cooperation and technological supervision.

  • Institution

    Analyzes the regulator's policy framework, decision-making process, and enforcement transparency, including rule-making, internal control, and policy implementation effectiveness.

  • Licensed

    Assesses the market value of the licenses issued by the regulator, including entry thresholds, compliance costs, approval duration, and overall global recognition and influence.

  • Risk Control

    Evaluates the regulator's financial stability and risk management capacity, including budgeting, reserves, revenues, expenditures, and ability to respond to market or financial shocks.

  • Investor Protection

    Examines the regulator's complaint-handling and investor protection systems, assessing fairness, responsiveness, and enforcement effectiveness in safeguarding investor rights.

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