MultiBank FX is a large exchange from the US. Reputed as a long-standing forex and CFD broker, MultiBank FX has received many valuable awards. For additional information about Multibank exchange, let’s find out the following article with Betomon.
Multibank FX: What is it?
Multibank FX was founded in 2005 in California, USA and has been operated for 14 years up to now. With a capitalization of over 322 million USD, Multibank FX has expanded rapidly since its founding as well as offering a lot of significant financial services globally.
Multibank FX currently manages more than 15 branches around the world, such as in the US, Hong Kong, Australia, Germany, Austria… Moreover, a representative office is currently located in Vietnam.
Statistics show that in 2018, the average revenue of this exchange exceeded 4.6 billion dollars per day.
At present, the Multibank FX forex trading platform is governed by regulations on four continents and operates under many operating licenses in multiple nations. Some licenses that can be mentioned are:
- ASIC: with company number (ACN) 155 084 058, authorized and regulated by the AUSTRALIAN Securities and Investments Commission with number AFSL 416279. The registered business name is MEX Australia Pty Ltd.
- FMA: Mex Asset Management is the Austrian branch of the German asset management company, with license number 491129z.
- CIMA: Mex Wealth Management is a Cayman Islands subsidiary regulated by the Cayman Islands Monetary Authority.
Guarantee policy for customers of Multibank FX exchange
Possessing a variety of reliable licenses serves as the foundation for improving the exchange’s reputation, as well as assisting in the security of investor information and ensuring insurance packages in the event of a dispute between the broker and the customer.
Operating license of Multibank FX
Furthermore, additional features that guarantee investor funds are negative balance protection, completely segregated client accounts from business accounts, and a trading credit line that logs all account-related activities. The $320 million upfront capital and supervisory banks also enhance MultiBank Group’s reputation significantly.
During its operations and development, MultiBank FX broker achieved many awards, including:
- Best Forex Service Provider 2020 – International Business Magazine
- Best FX Customer Service 2020 – Forex Awards
- Best Broker in Apac Region 2020 – International Financial Awards
- Best Forex & CFD Broker 2019 – Jordan Forex & Expo Awards
- Financial Services Provider of the Year Asia 2019 – Global Brand Magazine
- Best Forex Trading Platform Hong Kong 2018 – International Finance Magazine
Trading accounts offered by MultiBank FX
At MultiBank FX, customers can select from three distinct account types: Maximus, MultiBank Pro, and ECN Pro. Each account type has unique advantages that you should consider.
- ECN Pro account: for a fixed commission fee, this account type permits trading with spreads of at least 0.1 pip in normal market conditions. As its name suggests, the ECN account is traded on the MT4 platform.
- MultiBank Pro account: enables trading without a commission and with floating spreads starting at 0.8 pip in usual market conditions.
- Maximus account: provides free commission fee trading with spreads up to 1.4 pip or more in regular market conditions.
MultiBank FX broker’s trading products
Investors can access more than 1,000 trading instruments through MultiBank Group, which specializes in CFD and Forex broker:
- Metals: gold and silver
- Forex: the exchange offers 55 Forex currency pairs.
- Cryptocurrencies: Bitcoin and Litecoin
- Indices: the MultiBank FX broker offers more than 72 indices.
- Commodities: oil and wheat
In comparison to other providers, MultiBank FX broker does not offer as many pairs of forex or cryptocurrencies. Furthermore, spread betting products and binary option trading are not available to users.
Promotional programs of MultiBank FX
- Multibank FX receives rewards up to 20%
- Users can select from a variety of bonuses when registering for a trading account with
MultiBank FX Forex:
- 20% deposit bonus offered, 100% withdrawable.
- Imperial Bonus is available for the first time deposits up to $5,000 after reaching trading goals.
- There is also a 100% deposit bonus accessible, though the requirements are quite limited. A loyalty bonus of up to $3,500 is provided for long-time customers.
MultiBank FX trading platform
In addition to MT4 and MT5, which are common on other forex platforms, MultiBank FX offers 4 exclusive applications developed by the exchange, such as Pure ECN Pro.
MultiBank FX stands out for its deep liquidity and unrestricted trading. It is also acceptable to use EA automated trading with hedging (a form of reciprocal that can both buy and sell a currency pair). As a result, traders are able to select an appropriate service based on the frequency and level of their trading.
Orders from traders are kept from slipping or being overpriced when the market fluctuates because MultiBank FX uses an ECN platform, years of experience in the financial market, and a number of data centers and servers.
In addition to desktop applications, MultiBank FX provides mobile platforms for both Android and iOS operating systems. The platform facilitates users to generate personalized chart templates and store them for future reference by integrating support for countless timeframes and drawing tools.
Payment methods on the Multibank FX platform
Customers of Multibank can currently select from many payment options, including Visa/Master credit, Bank Wire, Neteller, Skrill, and Ngan Luong.
According to the trading community, depositing and withdrawing funds at the exchange is simple and quick. It is better when Vietnamese users decide to use Ngan Luong as their payment method.
Customer services of MultiBank FX
Because MultiBank FX has an office in many countries, the support team is quite large and enthusiastic. You may contact the staff by calling the available hotline number or using the website’s live chat channel.
The benefits and drawbacks of MultiBank FX
Since the Forex market is a worldwide financial marketplace, a large number of trading platforms will inevitably come up. There is no such thing as a perfect one; every exchange has unique benefits and drawbacks. Therefore, depending on their strategy, investors can select the appropriate forex platform.
Advantages of Multibank exchange:
- Immediately executed orders
- Maximum leverage is 500:1
- Spreads from 0.1 pip
- No price slippage, no requests and no refusals.
- There are many licenses such as: ASIC, BaFin, FMA, CNMV, RAK,…
- Transparency and clarity.
- Offers most currency pairs.
Disadvantages of Multibank exchange:
The spread is the main drawback of the multibank exchange that traders can discuss. In comparison to the average level at other forex trading platforms, the spread at Multibank can be regarded as higher.
However, a large spread does not always indicate an unfavorable exchange. Everyone has their price. Consider choosing based on your trading needs and investment strategy.
>>> How to Register with MultiBank Group
Conclusion
The MultiBank FX trading platform, along with its benefits and drawbacks, is thoroughly reviewed above. Hope you will find a suitable broker for yourself!
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