MultiBank Group is a renowned financial institution with trading tentacles across the globe. Since its establishment in 2005, its focus has been to provide reliable trading services backed by excellent customer support and advanced trading technology. 

The broker’s quality services have kept it at the fore of several rankings of brokers and earned it a strong reputation among traders. 

As benefitting from one of the world’s largest online financial trading companies, this Multi Bank exchange group review gathered that the Group offers a wide range of trading instruments, including shares, forex, commodities, indices, and crypto. 

The broker also boasts multiple trading platforms to suit its vast clientele’s preferences. In addition to its online trading services, MultiBankfx offers a range of other financial services, including investment banking, financial advisory services, and asset management. 

Supported Countries

As a company with a global presence, MultiBank Group offers its trading services to clients from different regions and international countries. The broker accepts clients from over 90 countries including Australia, Austria, BVI, Cayman Islands, China, Cyprus, Turkey, Malaysia, India, Singapore, Spain, Seychelles, Philippines, Iraq, Ireland, Malaysia, Mexico Hong Kong Germany, UAE, UK Vietnam, and USA.

However, certain constraints imposed by local and regional laws limit the broker’s services in some countries. These countries include Iran, Burma, Japan, Yemen, Burundi, Venezuela, Central Africa Republic, Somalia, Congo, North Korea, Ukraine, Cuba, Syria, Libya, South Sudan, and Zimbabwe. 

Please note that citizens from these countries can access MultiBank’s trading services if they reside in countries where the broker’s services are permitted.

Customer Service Rating

MultiBank Group has a rating of 2.7 out of 5 on Trustpilot. A further breakdown of this rating revealed that 52% of the 89 clients who left a review on TrustPilot rated the broker 5 stars. This statistic proves that at least half of its clientele’s experience and feedback is positive. 

Clients who reported positive experiences with MultiBank Group applaud their swift customer service response, a wide range of trading instruments, and the sleekness of its platform. Many of these positive reviews were from long-time clients who have remained loyal to the broker.

On the other hand, many of the negative reviews were from first-time clients. Their complaints were hinged on deposits and withdrawal hitches. There were also a few complaints of third-party scams. 

It’s important to know that MultiBankfx will not contact any clients outside its official communication channel and make unethical requests. The broker has encouraged clients to report suspicious calls from third parties through the broker’s phone lines, website, and email.

Trading Platforms

MultiBank Group offers its clientele a unique selection of trading platforms. The platforms span from the traditional MT4 and MT5 to its customized trading platforms, making the broker a popular choice among novice and experienced traders. This review has highlighted all the features of MultiBank’s trading platforms for your reading pleasure. The platforms are:

• MetaTrader 4 (MT4): This platform suits novice and experienced traders. It is renowned for both its powerful charting tools and user-friendly interface. Users of MT4 have access to technical indicators, automated trading, and several order types.
• MetaTrader 5 (MT5): This platform appears to be an advanced version of the MT4 and is compatible with a wide range of asset types. Aside from offering the same functionality as the MT4 platform, MT5 boasts better charting tools, order types, and back-testing capabilities.
• cTrader: This platform offers a range of order types, advanced charting tools, and a suite of technical indicators. The platform supports automated trading and provides traders with several tools to manage trading risk.
• MultiBank Group WebTrader: This web-based trading platform provides users with sophisticated charting capabilities, real-time market data, and a range of order types. All traders can access this platform through an internet-connected browser and operating system.
• MultiBank Group Mobile App: The broker’s mobile app is available for both iOS and Android devices, enabling traders to access their accounts, trade, and manage their positions on the go. The mobile apps come with the same features as the other platforms. 

Trading Denominations

MultiBank Group provides six different trading account currencies, which include USD, AUD, GBP, EUR, CAD, and CHF. MultiBank Group reviews agree that the broker allows traders to open an account and execute transactions using their local or most preferred currency, eliminating conversion rate charges and associated fees. 

Company Structure

MultiBank Group is a multinational financial services company with a complex corporate structure. It operates in various jurisdictions worldwide through its subsidiaries and affiliated companies. While its headquarters are in Hong Kong, MultiBank has physical offices across Australia, the Middle East, Europe, and Asia.

The MultiBank Group’s management team, which consists of committed financial experts, also plays a vital role in the company’s structure. The team manages the broker’s daily operations, develops policies, and makes crucial decisions. They also promote collaboration and innovation, foster a positive work culture, and provide guidance and support to the employees. These efforts enable MultiBank Group to maintain its status as a top global financial institution.

Licenses and Regulatory Compliance

MultiBank Group has a record of being one of the most regulated financial institutions in the world. The company is regulated by the following bodies:

• Australian Securities and Investments Commission (ASIC): ASIC regulates the operations of MultiBank’s Australia Pty Ltd (MEX Exchange) in Australia. The company operates under the license number AFSL No. 416279.
• Australian Transaction Reports and Analysis Center (AUSTRAC): MultiBank’s MEX Digital Pty Ltd is registered with AUSTRAC as a Digital Currency Exchange in Australia under Registration No. 100724469.
• Federal Financial Supervisory Authority (BaFin): The financial regulator oversees the operations of MultiBank’s MEX Asset Management GmbH in Germany. The company operates with license No. 146395.
• Cayman Islands Monetary Authority (CIMA): CIMA oversees the operations of MultiBank’s MEX Atlantic Corporation in the Cayman Islands. The company operates with license number 1811316.
• Securities and Commodities Authority – UAE (ESCA): MultiBank’s MEX Global Financial Services LLC operates with license number 20200000031 under the supervision of ESCA in the United Arab Emirates.
• Financial Services Commission (FSC): The FSC regulates the operations of MultiBank Fx International in the British Virgin Islands. The company operates with license number SIBA/L/14/1068.
• The Financial Markets Authority (FMA): MultiBank’s MEX Austria is authorized and regulated by FMA with license number 491129z.
• Monetary Authority of Singapore (MAS): MAS regulates the operations of MultiBank’s MEX Global Markets PTE. LTD in Singapore. The company operates under the license number CMS101174.
• Tianjin Financial Government (TFG): MultiBank’s Ikon Financial Services Corporation Ltd is regulated by TFG under license number 120000400121019.
• Vanuatu Financial Services Commission (VFSC): MultiBank MEX Pacific (V) Ltd is authorized and regulated by VFSC under license number 700443.

Customer Support

MultiBank Group offers 24/7 customer support through various channels, including phone, email, live chat, and social media. It also has a team of knowledgeable professionals who assist with trading-related queries, technical issues, and other concerns.

MultiBank Group also provides clients with educational resources to help traders improve their trading skills and make more informed trading decisions. 

The broker has received several awards in recognition of its efforts in offering excellent customer service. These awards include 2023 Best Forex Broker by Fintech and Crypto Summit Bahrain, The Most Trusted Broker in the Middle East 2023 by Ultimate Fintech, and Best FX Customer Service Forex Awards 2020.

Customer Protection

MultiBank has consistently demonstrated its commitment to securing its clients’ investment every chance it gets. The broker assures its clientele of the security of their assets through its frequent report publications and industry measures. These measures include:

• Insurance: MultiBank Group has insurance coverage to protect clients’ funds in case of unexpected events or circumstances. 
• Negative Balance Protection: MultiBank Group provides negative balance protection to clients, which means that traders cannot lose more than the funds they have deposited into their accounts.
• Regulatory Compliance: MultiBank Group is licensed and regulated by various financial authorities, including ASIC, BaFin, CIMA, FMA, FSC, MAS, TFG, and VFSC. This means that the broker complies with strict regulations and standards, which ensures that its clients’ investments are protected from unforeseen contingencies.
• Segregation of Client Funds: MultiBank Group ensures that clients’ funds are kept separately from the company’s operating funds. This means that clients’ funds will remain unaffected and can be returned to them in the event of the broker’s insolvency.
• Secure Transactions: MultiBank Group uses advanced encryption technology to protect clients’ personal and financial information. This ensures that all transactions conducted on the broker’s platform are safe and secure and cannot be breached by third parties.
• Risk Management: MultiBank Group has a dedicated risk management team that monitors the markets and manages the risks associated with trading activities. This team helps the broker make profitable financial decisions and protect the company from incurring losses that can affect clients’ funds.

Trading Information

This Multibank Group review discovered that the broker tops the charts of brokers that offer a repertoire of trading instruments in the financial industry. From typical financial market offerings of forex and commodities to more novel Cryptocurrencies, the broker affords its clientele vast trading options. More pertinent MultiBank fx trading details are discussed in the succeeding sessions.

Leverage

MultiBank Group provides clients leverage ranging from 1:1 to 500:1, depending on the trading account type and the financial instrument being traded. 

The Pro and ECN account types offer the highest leverage options, while the Standard account has more limited leverage. These leverages allow traders to increase their market exposure beyond the amount they have invested in their trading accounts. 

Deposits and Withdrawals

There are numerous deposit and withdrawal methods on Multi Bank Group. The methods available for deposits are also available for withdrawals. These methods include bank wire transfers, credit/debit cards, and e-wallets like Skrill, Neteller, and FasaPay. 

The minimum deposit required on MultiBank Exchange Group is dependent on the trader’s account preference. There are also no withdrawal fees on MultiBank, but withdrawals may be subject to fees associated with the trader’s preferred withdrawal method.

Deposits

Withdrawals

Trading Education and Training

MultiBank Group offers its clients educational resources to enhance their trading skills and knowledge. These resources include video tutorials and eBooks as trading guides and market analysis. 

Traders of all levels can benefit from these resources, which provide comprehensive and insightful information about the financial markets. The educational resources are easily accessible through the broker’s website and are free to all clients. 

This MultiBank Group review deduced that despite the positives, MultiBank’s educational tools still need some improvement. More resources must be available to clients to help improve their trading strategies and skills, especially for beginners.

Conclusion

MultiBank Group is a well-regulated and reputable broker offering various trading instruments, platforms, and account types. Its management team plays a significant role in ensuring the smooth running of the company. At the same time, its excellent customer service and educational resources provide traders with the support they need to succeed in the financial markets. 

MultiBank Group is focused on customer protection and transparency. Hence, this MultiBank Group review concludes that the broker is reliable for beginner and experienced traders looking to trade forex, commodities, indices, and other financial products.