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MultiBank Group Review 2024

Plamen Stoyanov
Updated: Apr 8, 2024
Overall Rating
  • Trust
  • Fees
  • Platforms and Tools
  • Tradable Instruments
  • Customer Support
  • Research
  • Deposit and Withdrawal
  • Account Types and Terms
  • Education
  • How Did We Test and Rate This Broker?
    When trading forex and CFDs, understanding a broker's strengths and weaknesses is essential. We developed a proprietary rating system, which is the result of extensive research and hands-on evaluation by our expert reviewers. With a rigorous approach, our reviewers manually assess each broker, investing more than 50 hours per review, checking and testing the broker while analyzing over 250 variables to simplify the broker selection process for you. The categories we evaluate include trustworthiness, trading platforms, customer support, regulatory oversight, spreads, fees, the variety of instruments offered, education, and research tools. This unique rating system is specifically developed to ensure that the assessment is based on firsthand knowledge and experience. By dedicating a significant amount of time to each review, our team of experts can provide in-depth insights and help you make well-informed decisions when choosing the broker that best suits your trading goals.

    Our Take on Multibank

    Multibank is a forex and CFD broker founded in 2005 in California, USA. Since then, the company established itself as one of the most regulated and trusted brokers in the online trading industry. It offers more than 20,000 tradable instruments across six asset classes, including forex, metals, indices, shares, and cryptocurrencies, on three account types with competitive pricing.

    Multibank Group has invested in developing its proprietary all-in-one Multibank-Plus platform with a simple and easy-to-use interface. It also incorporates the standard suite of MetaTrader 4 and MetaTrader 5.

    The broker impressed me with the wide variety of tools and services it offers its clients, including VPS hosting, FIX API, and Trading Central. Moreover, its trading fees are generally better than the industry average.

    Overall, Multibank offers a well-calibrated set of services geared towards traders with various experience levels and trading styles. It accommodates the needs of those interested in copy trading, automated trading, day trading, and more.

    Recommended in 5 best broker guides: 
    BaFin | Bitcoin | Gold | UK |  Australia

    Multibank Pros and Cons

    Pros Cons
    • Strictly regulated
    • Solid choice of platforms
    • Multiple trading tools
    • Over 20,000 instruments 
    • Reliable customer support
    • Cost-free payments
    • Slow execution speeds
    • Difficult account creation

    Multibank Highlights for 2024

    • Multiple Tier-1 Regulations: Multibank operates under 10 entities, five of which hold Tier-1 regulatory authorization.
    • Competitive Pricing: The broker offers two commission-free accounts and a spread-based account with industry-average or lower spreads.
    • Diverse Trading Platforms: Traders can use MT4, MT5, or the proprietary Multibank-Plus platform to suit their trading preferences.
    • Multiple Tools: The broker offers free VPS hosting, FIX API, and access to content from Trading Central.
    • Robust Supporting Content: The broker offers a wide range of educational and research materials to serve traders of all levels.

    What Sets Multibank Apart?

    Multibank impresses with its wide range of share CFDs – over 20,000 – across some of the most widely traded markets in Europe, the US, Asia, and others. Stock traders can benefit from this diversity and choose assets with varying volatility levels. Additionally, I discovered that Multibank’s spreads on share CFDs are tight and generally better than the industry average, which makes its stock offering even more favorable.

    Who is Multibank For?

    Multibank is a great choice for day traders with various experience levels. The broker’s extensive educational content offers newbies the chance to familiarize themselves with the ABCs of trading, whereas the availability of trading analyses from Trading Central offers more experienced traders a chance to monitor evolving trading opportunities with ease.

    I performed my tests on a Pro trading account using the desktop and mobile app versions of MetaTrader 5. The account was opened with the MEX Atlantic Corporation entity of the broker. Some features and services may vary depending on where you reside and which entity you open an account with.

    MultiBank Group Main Features

    ☑️ RegulationsCySEC (Cyprus), FMA (New Zealand), BaFin (Germany), MAS (Singapore), ASIC (Australia), ESCA (United Arab Emirates), BVI FSC (Virgin Islands, British), CIMA (Cayman Islands)
    🗺 Supported Languages
    English, Filipino, Russian, Arabic, Spanish, Chinese, Vietnamese, Malaysian, French
    💰 ProductsCurrencies, Stocks, Crypto, Indices, Commodities
    💵 Min Deposit$50
    💹 Max Leverage1:30 (CySEC ), 1:500 (FMA), 1:30 (BaFin), 1:20 (MAS), 1:30 (ASIC), 1:1000 (BVI FSC), 1:250 (CIMA)
    🖥 Trading Desk TypeNo dealing desk, STP, Market Maker
    📊 Trading PlatformsMT5, MT4, Proprietary
    💳 Deposit OptionsWire Transfer, Cryptocurrencies, Neteller, Skrill, Debit Card, Credit Card, Pagsmile, Paytrust, My Fatoorah, Thai QR Payment, Pay Retailers
    💳 Withdrawal OptionsWire Transfer, Cryptocurrencies, Neteller, Skrill, Debit Card, Credit Card, Paytrust, Pagsmile, My Fatoorah, Thai QR Payment, Pay Retailers
    🤴 Demo AccountYes
    🗓 Foundation Year2005
    🌎 Headquarters CountryUnited Arab Emirates
    Risk DisclosureCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

    MultiBank Group Full Review


    How Did We Test the Broker's Trustworthiness?
    Assessing a broker's trustworthiness with your funds is vital. To help you make the right decision, we carefully checked each broker's regulatory license and examined how well they protect traders. Moreover, we looked at the broker's stability by studying their business history, corporate structure, and industry experience. Finally, we thoroughly reviewed all of the broker's legal documentation, including terms, conditions, and fees, and evaluated their transparency based on our analysis. Our hands-on approach ensures that even novice traders have the knowledge they need to make smart decisions.
    trust chart

    Multibank operates through 10 entities, including five regulated by Tier-1 authorities and several offshore ones. It is one of the most rigorously regulated brokers I have ever reviewed, with a strict commitment to transparency. The broker meets all critical safety standards, including ensuring negative balance protection and the segregation of client funds.

    Entity Features  MEX Australia Pty Ltd KJHJK MEX Asset Management GmbH MEX Atlantic Corporation MEX Global Financial Services LLC MEX Europe Ltd MultiBank FX International Corporation MEX Asset Management GmbH-Austria branch MEX Global Markets Pte Ltd Ikon Financial Services Corporation Ltd MEX Pacific (V) Ltd
    Country/Region Australia, Sydney Germany, Frankfurt Cayman Islands, George Town UAE, Dubai Cyprus, Limmasol British Virgin Islands, Tortola Austria, Sankt Vein at der Glan Singapore  India, Mumbai Vanuatu, Port Vila
    Tier 1 1 3 2 1 3 1 1 3 3
    Segregated Funds Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes
    Negative Balance Protection Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes
    Compensation Scheme No Up to EUR 20,000 under ICF Up to $1,000,000 by Lloyd’s No Up to EUR 20,000 under ICF No Up to EUR 20,000 under ICF No No No
    Maximum Leverage 1:30 1:30 1:500 1:500 1:30 1:400 1:30 1:20 Not Specified 1:500

    Multibank Regulations

    In our reviews, we examine the licenses and regulations of each entity operated by a broker. This allows us to compare their different levels of protection. We rank licenses by various regulatory bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation.

    This is what I discovered about the several entities operating under the Multibank trade name:

    • MEX Australia Pty Ltd is licensed and regulated by the Australian Securities and Investments Commission (ASIC) with AFSL number 416279. We rate ASIC as a Tier 1 regulator.
    • MEX Digital Pty Ltd is licensed and regulated by ASIC as a Corporate Authorised Representative (AFS Representative Number 001285048) of Mex Australia Pty Ltd (AFSL 416279). The entity is registered as a Digital Currency Exchange with AUSTRAC, with registration number 100724469.
    • MEX Asset Management GmbH is licensed and regulated by the German Federal Financial Supervisory Authority (BaFin) with license number HRB 73406. We rate BaFin as a Tier 1 regulator.
    • MEX Atlantic Corporation is licensed and regulated by the Cayman Island Monetary Authority (CIMA) with license number 1811316. We rate CIMA as a Tier 3 regulator.
    • MEX Global Financial Services LLC is licensed and regulated by the Securities and Commodities Authority of the UAE as a Category 1 Trading Broker for Over-the-Counter Derivatives Contracts and Foreign Exchange Spot Markets under ESCA license number 20200000045. We rate the entity as a Tier 2 regulator.
    • MEX Europe Ltd is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 430/23. We rate CySEC as a Tier 1 regulator.
    • MultiBank FX International Corporation is licensed and regulated by the Financial Services Commission of the British Virgin Islands (FSC) with license number SIBA/L/14/1068. We rate FSC as a Tier 3 regulator.
    • MEX Asset Management GmbH-Austria branch is licensed and regulated by the Austrian Financial Markets Authority (FMA) with license number 491129z. We rate FMA as a Tier 1 regulator.
    • MEX Global Markets Pte Ltd is licensed and regulated by the Monetary Authority of Singapore (MAS) with license number CMS101174. We rate MAS as a Tier 1 regulator.
    • Ikon Financial Services Corporation Ltd is licensed and regulated by the Tianjin Financial Government (TFG) under the registration number 120000400121019. We rate TFG as a Tier 3 regulator.
    • MEX Pacific (V) Ltd is licensed and regulated by the Vanuatu Financial Services Commission (VFSC) with license number 700443. We rate VFSC as a Tier 3 regulator.
    MEX Atlantic Corporation’s licensing information on
    MEX Atlantic Corporation’s licensing information on

    Why is it Important to Know Where Your Broker’s Subsidiaries are Regulated?

    Brokers operate multiple entities because it allows them to serve clients worldwide. However, licenses obtained by regulators in different jurisdictions do not always entail the same degree of protection.

    Some regulators mandate compliance with the strictest financial frameworks, whereas others are less rigid. That is why traders must familiarize themselves with the safety mechanisms ensured by the entity they want to open an account.

    Here is what you need to be looking for in a broker in terms of safety mechanisms:

    • Segregation of client funds. Keeping client funds in segregated bank accounts from the ones used for the broker’s corporate capital negates the risk of accounting errors. All Multibank entities ensure segregated client funds.
    • Negative balance protection. This safety mechanism removes the risk of trading losses exceeding the account balance. In other words, the losses you incur from trading are capped at the amount you have put in your trading account. Negative balance protection is available for all multibank entities.
    • Compensation scheme. A compensation scheme protects traders against the broker’s liabilities if the company becomes insolvent. The broker’s German, Austrian, and Cypriot entities are protected under MiFID 2’s Investors Compensation Fund (ICF). Meanwhile, the MEX Atlantic Corporation entity is privately insured with civil liabilities insurance.
    • Maximum leverage. Capping the maximum leverage restricts the extent of market exposure to retail traders. The higher the leverage, the higher the potential profits and potential losses. The maximum leverage with Multibank is 1:500, which is available with the Vanuatu entity.

    Stability and Transparency

    In our Trust category assessments, we evaluate factors tied to stability and transparency, including the broker’s longevity, company size, and the transparency of information provided.

    I appreciated Multibank’s fee transparency. The broker offers live quotes on its website, with free access to registered and non-registered traders.

    This approach allows all website visitors to swiftly evaluate the competitiveness of the spread rates across all account types. I compared the data with the spread rates quoted on the platform and observed no discrepancies.

    Multibank’s live spreads feed
    Multibank’s live spreads feed

    I also went over the broker’s legal documents. Information is made easily accessible on the website. The Client Agreement is pretty extensive and includes all essential information. No intentionally misleading language was used by the broker.

    Is Multibank Safe to Trade With?

    I consider Multibank one of the safest brokers to trade with. My research into the broker’s licenses, safety policies, and legal documents has shown that Multibank maintains a high degree of transparency. Its high level of trustworthiness and stability can be attributed to the following factors:

    • Holds 5 licenses of Tier 1 regulators
    • Has issued private indemnity insurance
    • Has a robust client categorization policy
    • Is quite transparent about its fees


    How Did We Test the Broker's Fees and Commissions?
    Broker commissions and fees can be challenging to understand. To simplify this for you, we carefully examined all the broker's fee-related documentation and presented it in a clear, easy-to-understand format. Furthermore, we conducted hands-on tests on spreads and commissions for the most common instruments during both London and New York trading sessions. We then compared these real-time test results to the market benchmark we've established through our extensive experience evaluating the industry.
    fees chart

    Multibank offers commission-free trading and spreads that vary greatly from one account type to another. The broker’s swaps are elevated, but swap-free trading is available via its Islamic accounts. I also learned that Multibank does not charge deposits and withdrawals but has a high inactivity fee.

    Multibank Trading Fees

    Multibank Spreads

    I tested Multibank’s spreads on 21 March 2024 during the London and the New York open. The results are shown in the table below:

    Instrument Live Spread AM Live Spread PM Industry Average
    EURUSD 0.8 pips 0.8 pips 1.08 pips
    GBPJPY 2.1 pips 1.1 pips 2.44 pips
    Gold (XAUUSD) 15 pips 15 pips 42 pips
    Crude Oil 0.03 pips 0.03 pips 0.03 pips
    Apple NA 0.05 points 0.33 points
    Tesla NA 0.17 points 0.50 points
    Dow Jones 30 2.10 basis points 1 basis point 3.3 basis points
    Germany 40 Not Available  Not Available  2.4 basis points
    Bitcoin $79 $55 $35.5

    Broken by asset class and compared to the industry average, Multibank offers low spreads on currency pairs, share CFDs and indices, low-to-average spreads on commodities, and high spreads on cryptocurrencies.

    Multibank Swaps

    A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight.

    The values listed below are for one full base currency contract (100,000 units).

    Instrument Swap Long Swap Short
    EURUSD Charge of $5.1 Credit of $3.1
    GBPJPY Credit of $16.59 Charge of $29.61

    My tests indicate that Multibank charges average-to-high overnight charges. This combination is not ideal for longer-term position trading, though it does not restrict day trading.

    Multibank Non-Trading Fees

    Multibank charges dormant accounts an inactivity fee of $60. The fee is applied after three months of inactivity and is charged each month until activity resumes or the account balance drops to zero.

    Multibank does not charge deposits or withdrawals with a handling fee, though third-party banking fees may apply.

    Accounts Comparison

    I have compiled the table below to help you better understand the difference between the trading fees of Mutlibank’s three account types and the industry average. It illustrates the spreads and commissions I have recorded for the EUR/USD pair and compares them against the typical costs for ECN and STP accounts in the industry at large.

    The table demonstrates how much you would have to pay to trade 1 full lot (100,000 units) in EUR/USD with a pip value of $10 for each account.

    To calculate the cost of such a full-sized trade, I used this formula: Spread x pip value+commission

    Account Type* Min. Deposit Requirement Spread Commission** Net Cost
    Standard $50 1.5 pips $0 $15
    Pro $1000 0.8 pips $0 $8
    ECN $10,000 0.2 pips $3 $5
    Typical STP NA 1.2 pips $0 $12
    Typical ECN NA 0.2 pips $6 $8

    *The numbers in this chart are only illustrative and subject to change over time

    **Round-turn commission

    My tests indicate that Multibank’s Standard account is the most accessible one, but it also features trading fees that exceed the industry average. In comparison, the ECN account features the most competitive prices but also has a rather high minimum deposit requirement. The Pro account strikes the perfect balance between affordability and competitive prices.

    Are Multibank’s Fees Competitive?

    Multibank’s fees are generally competitive. While the spread rate on the Standard account exceeds the industry average, the Pro and ECN accounts offer trading conditions that are more favorable compared to the industry average.

    However, due to its elevated swap charges, I determined that Multibank’s trading fees are more suitable for day trading, which does not require holding positions open overnight.

    Platforms and Tools

    How Did We Test the Broker's Trading Platforms?
    We understand that platforms play a crucial role in your trading experience. That's why we spent many hours testing the broker's web, desktop, and mobile trading platforms to gain a real understanding of their usability, functionality, and overall performance. From experimenting with different order types to testing execution speeds, charting, and other features, we thoroughly examined every aspect of these platforms based on our trading expertise, helping you make an informed choice.
    platforms chart

    Multibank offers its proprietary Multibank-Plus platform and incorporates the standard suite of MetaTrader 4 and MetaTrader 5. The broker stands out in terms of the number of tools it offers, including VPS hosting and FIX API. Mutltibank is also suitable for copy trading and automated trading.

    Platform/Tool Suitable For
    Multibank-Plus Advanced technical analysis, simple order execution
    MetaTrader 4 Simple order execution, automated trading
    MetaTrader 5 Simple order execution, automated trading, strategy tester 
    Free VPS Hosting Low-latency trading 
    FIX API Direct market access

    In this review, I tested MetaTrader 5, which features multiple essential tools, such as one-click trading, an alarm setting option, and a market depth tool. These allow traders to examine various market developments from different angles and to exploit the underlying trading opportunities in multiple ways.

    MT5 is arguably best suited for automated trading via its Expert Advisors (EAs) feature. The platform also has an intuitive strategy tester, allowing experienced algo traders to tweak the parameters of their strategies so that they can be used under different market conditions. Additionally, Multibank offers Virtual Private Server (VPS) hosting for enhanced execution speeds.

    The depth of markets tool and average. execution speed
    The depth of markets tool and average. execution speed

    In the image above, you can see how to measure a broker’s average execution speed. The industry average is between 50 milliseconds and 150 milliseconds. For the purposes of scalping, the best results can be achieved when the average execution speed falls below 50 milliseconds.

    The Desktop Version of Multibank’s MT5 Platform

    MetaTrader 5’s main panel
    MetaTrader 5’s main panel

    General Ease of Use

    MT5’s layout is pretty straightforward. Account info is displayed at the bottom of the screen; charts occupy the middle portion of the window; a watch list of selected instruments and tools screen is positioned on the left side of the window; and a panel with various settings and configurations can be found at the top of the window.


    The chart screen is a platform’s key feature, crucial for technical analysis through price action overview. It offers numerous analytical tools and configuration options for comprehensive examination. The ease of scaling price action is, in my experience, its most critical aspect.

    MT5’s charts window
    MT5’s charts window

    I have broken down the available MT5’s analytical tools and chart configurations below:

    • 38 technical indicators. The platform supports trend-based, volume-based indicators, oscillators, and more. These can be applied to study price action behavior and determine the underlying market sentiment. In general, technical indicators are used to gauge where the market is likely to head next.
    • 24 drawing tools. Drawing tools, such as Fibonacci retracement levels and Elliott waves, are used to study repeatable price patterns. Additionally, they can be applied to determine key support and resistance levels and potential breakout or breakdown levels. Despite the rather big collection of drawing tools, the ruggedness of MT5 makes it difficult to discern price action behavior.
    • 21 timeframes. One of the standout features of MetaTrader 5 is its vast array of timeframes. MT5 allows multi-timeframe analysis of price action behavior. The greater the number of timeframes, the more intricate examinations that can be carried out across the short-term and long-term.
    • 3 chart types. Price action can be represented as a line, bars, or candlesticks. This diversity makes it possible to examine potential trading opportunities from different angles.

    As shown above, the problem with MetaTrader is that the charts can be crowded quite easily, even when we add no more than 2 indicators. This obscures price action behavior and makes it more difficult to conduct probing technical analysis.


    MT5’s order placing window
    MT5’s order placing window

    I have broken down the available order types on the MetaTrader 5 platform below:

    • Market orders. Market orders are used for immediate entry at the best possible price. If triggered, they guarantee volume filling, though there could be a discrepancy between the requested price and the price where the order gets filled.
    • Limit orders. Unlike market orders, limit orders guarantee exact price execution. However, a limit order will not be filled if the price action does not reach the pre-determined execution price.
    • Stop orders. They are used to support open positions by limiting the maximum loss that can be incurred if the market turns in the opposite direction. A stop-loss order is placed at a fixed price below or above the spot price. If the market does indeed turn and triggers the stop-loss, it will transform into a market order and get filled at the best possible price.

    My Key Takeaways After Testing the MetaTrader 5 Platform

    MT5 is a good option for fast and simple order execution. On the other hand, its dated and rugged design falls short compared to newer, sleeker platforms. As a trader who prioritizes flexible chart scaling, I find MT5’s charting capability too rigid and less effective.

    Multibank’s MT5 Mobile App

    A watch list of selected instruments (left), a chart screen (middle), an order placing window (right)
    A watch list of selected instruments (left), a chart screen (middle), an order placing window (right)

    The mobile app version of MT5 affords quick and easy access to the market on the go. It is very useful for opening, terminating, and adjusting open positions.

    The market is continually evolving, marked by periodic surges and declines in volatility. For this reason, staying abreast of the latest market developments is crucial, a task made simpler through the mobile app version of MT5.

    You can also use the app to place market, limit, and stop orders, as well as to adjust the exposure of your open trades.

    My Key Takeaways After Testing MT5’s Mobile App

    MT5’s mobile app suffers from the same underlying problem inherent to other mobile apps. Analyzing price action behavior on low-resolution devices is extremely difficult. That is why I recommend using the mobile app only to monitor the development of your open positions and make changes if needed.

    Tradable Instruments

    How Did We Test the Broker's Tradable Instruments?
    For this section, we examined the broker's market offering, assessing the variety and depth of instruments and asset classes available for trading. Through our proprietary database, we then compared the results with other brokers. This comprehensive analysis allows you to determine if the broker offers the specific instruments and trading options you're looking for.
    tradable_instruments chart

    Multibank stands out with its impressive range of more than 14,100 tradable instruments. The bulk of the offering is comprised of share CFDs and a fairly large selection of cryptocurrencies. With respect to contract types, Multibank’s instruments can be traded on the spot market or through futures contracts.

    Markets Industry Average Types  Contract Types
    41 Currency Pairs 30 – 75 Majors, Minors, Crosses, Exotic Spot
    18 Commodities 5 – 10 Metals, Energies Spot, Futures
    14, 035 Share CFDs 100 – 500 Europe, US, Asia, Other Spot
    22 Indices 5 – 10 US, Europe, Asia Spot, Futures
    73 Cryptocurrencies 10 – 20 Majors and Minors Spot

    Compared to the industry average, Multibank offers an average amount of currency pairs and a high number of commodities, share CFDs, indices, and cryptocurrencies.

    What Are CFDs?

    Contracts for difference (CFDs) are derivatives used to speculate on the underlying asset’s price without physical delivery.

    For example, a long position on gold would generate profit as the price rises or incur a loss as it falls, all without the need to purchase actual gold bars.

    One of the biggest advantages of trading CFDs is that traders can get in and out of the market almost instantaneously, thereby catching even minute changes in the price of the derivative.

    What Can You Trade With Multibank?

    Forex Commodities
    EURUSD | GBPJPY | CADCHF | EURNOK | USDJPY | GBPCAD Gold | Silver | Natural Gas | Corn | Coffee | Cotton | Crude Oil Futures
    Share CFDs Indices
    Apple | Tesla | Microsoft | Citigroup | Netflix | Siemens | Barclays | Adidas Germany 40 | Dow Jones 30 | Spain 35 | Australia 200 | Japan 225 | China 50
    Bitcoin | Litecoin | Ethereum | Ripple | Dash | Cardano

    My Key Takeaways After Exploring Multibank’s Instruments Offering

    Multibank’s instrument offering is quite extensive and diverse. The huge amount of share CFDs caters to the needs of stock traders, who can gain access to some of the biggest and most popular markets and exchanges in the industry. This is especially important given Multibank’s competitive trading fees on share CFDs.

    The broker also serves high-risk/yield traders via its huge cryptocurrency offering. Few brokers offer as many crypto CFDs, though it should also be stated that Multibank charges above-average spreads on instruments from the same asset class.

    Another great advantage is the availability of futures contracts, which can be used to hedge market exposure by locking into medium-term and longer-term trades.

    Customer Support

    How Did We Test the Broker's Customer Support?
    Traders often underestimate the importance of customer support, yet it proves to be a critical aspect during times of crisis. We put the broker's customer support to the test ourselves using all possible channels, such as chat, phone, and others. Our evaluation focused on the accessibility of live agents, as well as the helpfulness and professionalism of their responses. This way, we provide you with comprehensive insights into whether a broker can deliver full support when you need it most.
    customer_support chart

    Multibank offers professional-grade customer support available 24/7. Help is available via live chat, email, and over the phone in English, Spanish, French, Arabic, and other languages. The agents are generally knowledgeable and respond to queries fairly quickly.

    Live Chat Phone Email
    24/7 from the website
    • 800203040 (UAE)
    • Call Back option
    Via WhatsApp

    Customer Support Test

    When we test a broker’s customer support, we evaluate the agent’s knowledge of their own website, how long it takes them to respond to questions, and how detailed their answers are.

    I conducted my test on 21 March at around 09:20 a.m. CET via live chat. I asked a series of questions pertaining to Multibank’s services, and the agents were generally knowledgeable and polite enough.

    My biggest issue was setting up a demo account due to the broker’s KYC policy. However, the agents were able to guide me through the process fairly quickly.

    My conversation with Multibank
    My conversation with Multibank

    Deposit and Withdrawal

    How Did We Test the Broker's Deposit and Withdrawal Process?
    The deposit or withdrawal process can be tricky since you may encounter hidden fees or longer than expected processing time. To assess the broker's offerings, we examined their deposit and withdrawal options and conditions. Using our proprietary database, we then compared these results with those of other brokers.
    deposit chart

    Multibank offers more than 20 different payment methods for the convenience of its clients. Payments are accepted via bank wire, credit or debit cards, cryptocurrencies, or e-wallets. The broker does not charge any internal fees for deposits or withdrawals. Processing times are normal.

    Multibank Deposit Methods

    Payment Method Currency Fee Processing Time
    Bank Wire USD, EUR, GBP, CHF, AUD, NZD, CAD $0 1-2 business days
    Credit/Debit Card USD, EUR, GBP, CHF, AUD, NZD, CAD $0 Instant
    Neteller EUR, USD $0 Up to 24 hours
    Skrill EUR, USD $0 Up to 24 hours
    pagsmile Various $0 Up to 24 hours
    My Fatoorah Various $0 Up to 24 hours
    Plus Wallets Various $0 Up to 24 hours
    Thai QR Payment Various $0 Up to 24 hours
    PayTrust88 Various $0 Up to 24 hours
    Pay Retailers Various $0 Up to 24 hours
    Others* Various $0 Up to 24 hours
    Crypto Wallets BTC, USDT ERC20, USDT TRC20 $0 Instant

    *korapay, Payment Asia, Boleto, pix, Spei, Praxis, GCash, dragonpay, Globepay

    Multibank Withdrawal Methods

    Payment Method Currency Fee Processing Time
    Bank Wire USD, EUR, GBP, CHF, AUD, NZD, CAD $0 1-2 business days
    Credit/Debit Card USD, EUR, GBP, CHF, AUD, NZD, CAD $0 Instant
    Neteller EUR, USD $0 Up to 24 hours
    Skrill EUR, USD $0 Up to 24 hours
    pagsmile Various $0 Up to 24 hours
    My Fatoorah Various $0 Up to 24 hours
    Plus Wallets Various $0 Up to 24 hours
    Thai QR Payment Various $0 Up to 24 hours
    PayTrust88 Various $0 Up to 24 hours
    Pay Retailers Various $0 Up to 24 hours
    Others* Various $0 Up to 24 hours
    Crypto Wallets BTC, USDT ERC20, USDT TRC20 $0 Instant

    *korapay, Payment Asia, Boleto, pix, Spei, Praxis, GCash, dragonpay, Globepay

    Please note that while the broker does not charge a handling fee for deposits or withdrawals, third-party banking fees may apply, subject to the chosen payment method.

    Account Types and Terms

    How Did We Test the Broker's Account Types and Terms?
    When it comes to achieving your trading goals, choosing the proper account is essential. We initiated our evaluation by personally opening an account with the broker, which allowed us to gain firsthand experience of the process and accurately asses, how fast and easy it is. In addition, we carried out an in-depth analysis of the account types and features offered by the broker, including spreads, maximum leverage, minimum deposits, and more. For a comprehensive comparison, we turned to our proprietary database and examined how this broker's account offerings and processes stacked up against other brokers.
    account chart

    Multibank offers three types of retail accounts. I concluded that the Standard account with a $50 minimum deposit requirement is the most affordable. Accounts can be opened in EUR, USD, GBP, CHF, AUD, NZD, or CAD. Swap-free trading is available via Multibank’s Islamic Accounts.

    Multibank Account Opening Process

    Multibank’s account registration form
    Multibank’s account registration form

    To create an account with Multibank, follow these simple steps:

    • Step 1. Click ‘Start Trading’ at the top-right corner of the main page.
    • Step 2. Enter your name, email address, and phone number.
    • Step 3. Enter an OTP number, which will be sent to you, in the application form.
    • Step 4. Verify your account by uploading proof of address and proof of ID.
    • Step 5. Submit a photo taken with your digital device.

    Multibank’s Account Types

    Account Type Standard Pro  ECN
    Spread From 1.5 pips 0.8 pips 0.0 pips
    Commission* $0 $0 $3
    Minimum Deposit Requirement  $50 $1000 $10,000
    Social Trading MT4, MT5 MT4, MT5 MT4, MT5
    Islamic Accounts Yes Yes Yes
    Demo Accounts** Yes Yes Yes

    *Round-turn, per traded lot (100,000 units)

    **Available to clients with funded live accounts

    Multibank’s Standard account is the most accessible one, with its minimum deposit requirement of $50. However, it also features a combination of spreads and commissions that exceeds the industry average. In contrast, the ECN account offers some of the lowest trading fees in the industry, but its barrier to entry is rather high (at $10,000).

    I determined that the Pro account strikes a fine balance between affordability and competitive prices. It features a combination of commission-free trading and floating spreads starting from 0.8 pips, with a minimum deposit requirement of $1000.

    Demo Account

    Multibank offers demo accounts that introduce traders to the broker’s services and allow them to tweak their strategies in a risk-free environment. The market is continually evolving and never static, so it is important to hone your skills in a safe environment. You can set up a demo account for yourself alongside your live CFD account.

    Islamic Account

    The broker also offers Islamic accounts for swap-free trading, as mandated under Shariah law. Traders who want to open an Islamic account need to contact Multibank’s customer support and request the service from there.

    What is CFD Leverage?

    The leverage determines a trader’s overall market exposure. When trading Contracts for Difference (CFDs), positions can be opened for a fraction of their value because of the leverage. Essentially, the broker lends the trader money so that the latter can open bigger positions. The leverage multiplies the profits a trader generates from winning positions and the losses incurred from failed trades.

    Maximum Leverage by Asset Class

    In the table below, I have listed the maximum retail leverage available with Multibank for instruments from different asset classes:

    Asset Class Maximum Retail Leverage
    Forex 1:500
    Energies 1:100
    Metals 1:500
    Indices 1:100
    Share CFDs 1:20
    Cryptocurrencies 1:50

    Multibank Bonuses

    Multibank offers trading bonuses to new and existing clients interested in trading higher volumes. Clients can get a 20% or 30% trading bonus subject to terms and conditions. The bonus can be converted to cash once a month, and clients must complete the trading requirements within 90 calendar days. This offering is generally geared towards high-volume scalpers and day traders.

    Multibank also offers a cashback program where traders reap bigger benefits the more they trade. The terms and conditions of the offers are available here.

    Multibank Restricted Countries

    Multibank does not accept clients from the following countries: North Korea, Iran, Russia, Myanmar, Japan, Ukraine, the UK, and the USA.


    How Did We Test the Broker's Research Tools?
    Research options offered by brokers may not be seen as the most important feature for some traders, but they can provide a competitive advantage. To assess the broker's research offerings, we personally explored and tested both proprietary and third-party tools and content, such as Fundamental and Technical Analysis, Market News, educational videos, and webinars. After evaluating the availability and quality of the overall research offering, we compared the results with our benchmark to provide a comprehensive analysis of the broker's research capabilities.
    research chart

    Multibank offers a pretty balanced and diverse set of research materials. The news screener helps traders stay informed of the latest market developments, while the market analyses and trading signals from Trading Central provide them with critical insights into viable trading opportunities.

    Multibank’s economic calendar
    Multibank’s economic calendar

    Multibank provides several types of research content, offering traders a nuanced and penetrating insight into recent market developments. I have broken down the main types of research content below:

    • Economic calendar. The economic calendar is an essential tool in a trader’s arsenal. It informs traders of upcoming market events and releases that have the potential to stir price action, thereby creating viable trading opportunities.
    • Financial news. Traders with Multibank can also stay on top of all market developments with the broker’s intuitive news screener. Available from the ‘dashboard’ section of the website, it provides short breakdowns of recent financial developments and potential trading opportunities.
    • Trading Central analyses and signals. The great advantage of Multibank is that it incorporates content from the seamless Trading Central – one of the two biggest and most trusted sources of market analyses and trading signals. The service offers frequent and highly informative analyses outlining potential trading opportunities. I like that each article includes a strong technical breakdown supported by a chart and an examination of the underlying market sentiment.
    Trading ideas by Trading Central
    Trading ideas by Trading Central

    My Key Takeaways After Exploring Multibank’s Research Content

    Multibank’s research content caters to the needs of day traders and swing traders. The scope of its market breakdowns and trading signals varies but usually covers opportunities lasting from several hours to several days. I found those highly practical for traders seeking to exploit shorter-term trading opportunities.


    How Did We Test the Broker's Education Offering?
    Gaining knowledge about trading in the financial markets can make the difference between success and failure. To assess the broker's educational offerings, we personally tested and evaluated the quality of the content provided, considering its relevance for both novice and experienced traders. We explored the range of materials available, such as articles, videos, webinars, and courses. After evaluating the content's volume, update frequency, and overall quality, we compared the results with our benchmark to provide a well-rounded analysis of the broker's education offerings.
    education chart

    Multibank’s educational content is quite extensive. It allows newbie traders to learn the ABCs of trading, both in theory and practice. I appreciated the availability of video content and written articles so traders could learn from multiple angles. Multibank’s guides, ebooks, and videos are mostly dedicated to studying technical analysis, though other important topics, such as trading psychology, are also covered.

    I have broken down Multibank’s educational content by type below:


    Most videos are dedicated to the study of technical analysis and are available from the client area. Hosted by market expert Martin Pring, the videos cover a wide range of topics pertaining to price action examination.

    The videos introduce beginners to price trends and how to spot them, trade them, apply risk management, and discern market noise from real price movements. I like that after covering each topic, you can practice what you have learned by taking a quiz.

    Multibank’s educational videos
    Multibank’s educational videos


    There are a total of 10 educational courses with free access to everybody, available from the website. These are comprised of 68 individual lessons. The lessons cover a wide range of topics pertaining to the basics of trading, essential trading terms and concepts, CFDs trading, and more.

    Multibank’s educational courses
    Multibank’s educational courses


    The ebooks also have a heavy emphasis on the study of technical analysis but also focus on the psychology of trading. This is essential for ensuring long-term success in the market.

    Multibank’s educational ebooks
    Multibank’s educational ebooks

    Platform Videos

    Finally, newbies can check out 11 videos outlining the proper use of the broker’s several platforms. Five of those are dedicated to MetaTrader, and the other six examine the use of the Multibank-Plus platform.

    The Bottom Line

    Multibank, a tightly regulated derivatives broker, stands out for its commitment to trader safety, boasting licenses from five Tier 1 financial regulators. Its impressive range of over 14,000 share CFDs, support for MetaTrader 4&5, and proprietary Multibank-Plus platform, along with Trading Central content, FIX API, and VPS hosting, highlight its comprehensive offerings.

    Pricing varies across account types, with the Standard account’s fees higher than average, whereas the ECN account offers some of the industry’s lowest trading fees. Despite slower execution speeds, Multibank shines in service usability and offers dividends for long positions in indices.

    I consider Multibank an appealing option for beginners and day traders seeking a wealth of educational resources and trading opportunities.


    Multibak is headquartered in the United Arab Emirates (UAE).
    My research showed that Multibank is one of the safest brokers in the industry. It is regulated by several Tier 1 regulators, adheres to all essential safety requirements, and also has a strict client categorization policy.
    The minimum deposit is $50.
    Deposits can be made using bank wire, credit and debit cards, e-wallets, and crypto-wallets.
    Withdrawals can be processed via bank wire, credit and debit cards, e-wallets, and crypto-wallets.
    Transaction times may vary between 3 to 8 business days.
    The maximum leverage available is 1:500.
    Multibank incorporates the standard suit of MetaTrader 4, MetaTrader 5, and its proprietary Multibank-Plus platforms.
    Multibank is a great choice for beginners. It offers extensive educational content and a choice of versatile platforms and tools.
    Yes, a free demo account is available via MetaTrader 4 and MetaTrader 5.
    Multibank has a relatively slow execution speed. However, it offers free VPS hosting, which facilitates low-latency trading. It is because of that and the fact that the broker has developed a versatile platform that I consider Multibank suitable for scalping.
    Yes, auto-trading is available via MetaTrader’s Expert Advisors (EAs) feature. It can also be practiced on the Multibank-Plus platform. Additionally, Multibank offers free VPS hosting for low-latency trading.
    Yes, clients of Multibank can implement hedging trading strategies.
    No, spread betting is not available with Multibank.
    Yes, Multibank offers VPS hosting.
    No, Multibank operates as an STP broker without a dealing desk.
    No, Multibank does not operate a bank.

    See MultiBank Group Full Information

    Headquarters CountryUnited Arab Emirates
    Foundation Year2005
    RegulationsCySEC (Cyprus), FMA (New Zealand), BaFin (Germany), MAS (Singapore), ASIC (Australia), ESCA (United Arab Emirates), BVI FSC (Virgin Islands, British), CIMA (Cayman Islands)
    Publicly TradedNo
    Number Of Employees500
    Trading Desk TypeNo dealing desk, STP, Market Maker
    Trading PlatformsMT5, MT4, Proprietary
    Restricted Countries
    United States, Japan, Myanmar, Iran, North Korea, Ukraine, Russian Federation, Hong Kong, United Kingdom
    Supported Languages
    English, Filipino, Russian, Arabic, Spanish, Chinese, Vietnamese, Malaysian, French
    Min Deposit$50
    Max Leverage1:30 (CySEC ), 1:500 (FMA), 1:30 (BaFin), 1:20 (MAS), 1:30 (ASIC), 1:1000 (BVI FSC), 1:250 (CIMA)
    Deposit OptionsWire Transfer, Cryptocurrencies, Neteller, Skrill, Debit Card, Credit Card, Pagsmile, Paytrust, My Fatoorah, Thai QR Payment, Pay Retailers
    Withdrawal OptionsWire Transfer, Cryptocurrencies, Neteller, Skrill, Debit Card, Credit Card, Paytrust, Pagsmile, My Fatoorah, Thai QR Payment, Pay Retailers
    Time to Open an Account9
    Ethereum, Dogecoin, Bitcoin, Litecoin, Bitcoin Cash, Ripple, Ethereum Classic, TRON, Cardano, EOS, IOTA, Binance Coin, Uniswap, Solana, Avalanche, Algory, OMG Network, PegasusDAO, Metacoin, Axie Infinity, Santiment Network Token, Filecoin, Nerves
    Currencies, Stocks, Crypto, Indices, Commodities
    Demo AccountYes
    OCO OrdersNo
    Offers HedgingYes
    Automated TradingYes
    API TradingYes
    Guaranteed Stop LossNo
    Guaranteed Limit OrdersYes
    Guaranteed Fills / LiquidityYes
    Economic calendarYes
    Trading From ChartYes
    One-Click TradingYes
    Expert AdvisorYes
    Social TradingYes
    Trading SignalsYes
    Platform Languages
    Arabic, English, French, Spanish
    24 Hours SupportYes
    Support During WeekendsYes
    Live ChatYes
    Daily Market CommentaryYes
    News (Top-Tier Sources)Yes
    Deposit FeeNo
    Withdrawal FeeNo
    Inactivity FeeYes

    About the Author

    Plamen StoyanovBroker Analyst

    Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.

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    CFDs can be very risky because they use leverage, which might not be suitable for everyone. The use of leverage means that even a small amount of money you deposit initially can lead to big losses due to market movements. CFD trading is particularly risky because the markets they involve are speculative and can change a lot. Trading these products could mean losing money, therefore, you must carefully consider your financial situation and risk tolerance before trading CFDs.