MultiBank Group review

Our rating

MultiBank Group scores 8.5 out of 10 on our table. That figure is an average of six things we assess, and it hides the shape of the broker: its strongest area is regulation at 9.3, its weakest is education at 7.5. Whether that gap matters depends entirely on which of the six you were going to use.

In its favour: high leverage, diverse account types. Against it: withdrawal fees apply.

Regulation and safety9.3/10

MultiBank Group lists its authorisations as ASIC (AFSL 416279); MAS (CMS101174); CySEC (430/23); CIMA (1811316); UAE SCA/CMA (20200000031); Mauritius FSC (GB23201531); Seychelles FSA (SD198); Vanuatu VFSC (700443); plus additional group registrations/licences. That is a mixed structure, and the mix is the point: it holds at least one tier-one licence alongside offshore entities, and which one takes your account depends on where you live rather than on which you would prefer.

The licence that matters to you is the one held by the entity that opens your account, and at a multi-entity broker that is decided by your country of residence. Its registration can be checked directly on the ASIC Professional Registers, AFSL 416279. It is a two-minute check and it is the only way to confirm that the firm taking your deposit is the firm named on the website.

Client money is held separately from the firm's own funds, with top-tier regulated banks - so that if the business fails, client balances are not part of what its creditors can reach. Negative balance protection applies, so a gap through your stop cannot leave you owing the broker money.

On compensation: lloyd's of London excess-loss insurance up to $1 million per account under MEX Atlantic; statutory protection varies by entity. That covers the broker failing, not your trades losing money - the two are frequently confused and only one of them is insured.

MultiBank Group does not accept clients from United States for retail CFD services, Iran, North Korea and other sanctioned/restricted jurisdictions. Restriction lists move, so confirm your own country before you spend time on an application.

What it costs to trade8.8/10

MultiBank Group advertises spreads from 0.0 pips. Commission is $3 per side / $6 round turn, ECN, charged on top of the spread rather than instead of it - which is the normal arrangement on a raw account and the reason its quoted spread can be so low. Put the two together and a EUR/USD round turn works out at approx. 0.7 pips, which is the figure worth comparing against other brokers.

An advertised minimum is the best price a broker has ever quoted, not the price you will get. On our record its measured average on EUR/USD is approx. 0.1 pips, ECN, and approx. 0.4 pips, ECN on GBP/USD. Spreads are variable, so they move with liquidity and widen around releases and the daily rollover.

Positions held overnight accrue a swap, and swap-free accounts are available for clients who need them. Currency conversion applies where your account and the instrument use different currencies, which is a charge worth avoiding by funding in the currency you actually trade.

Leave the account dormant and it costs you: $60/month after 3 consecutive months inactivity. That is the charge most often missed when comparing brokers, and it matters disproportionately if you trade seasonally or infrequently.

Platforms and tools8.7/10

MultiBank Group runs MetaTrader 4, MetaTrader 5, WebTrader, MultiBank-Plus / MultiBank App. Both MetaTrader versions are available, which matters more than it sounds: an expert advisor written for MT4 will not run on MT5, so a trader arriving with existing software needs the specific version it was written for.

Automation is supported: yes. There is API access (yes) for anyone connecting their own software. Copy trading is available through Yes, Social Trading, which is the alternative to writing rules yourself.

Charting runs to 80+ technical indicators and analytical tools. Additional tools include vPS, MAM, PAMM, social trading. On mobile: both proprietary and third-party.

Markets, leverage and execution8.7/10

MultiBank Group covers Forex, Metals, Shares, Indices, Commodities, Cryptocurrencies. That comes to 20,000+ instruments in total. On the currency side specifically it lists 55+ pairs. Breadth is worth less than depth in the markets you actually trade - a hundred instruments priced well beats a thousand you will never open.

Leverage is capped at 1:30, which is the retail limit under tier-one regulation - a protection rather than a restriction. Our record for this broker reads "1:30 retail", and the difference between those figures is the entity you are onboarded to rather than anything you can choose. Whatever the headline, the number that governs your position is the margin requirement on the specific instrument - it is always lower on shares and crypto than on major currency pairs.

Execution is ECN / Non-Dealing Desk market execution, routing orders to external liquidity rather than pricing them internally. Measured speed is under 20ms. Its servers sit in global financial data centres including London and New York, which is what determines latency more than any software choice.

Order types available: market, limit, stop, stop-loss, take-profit, trailing stop. Stops and limits are table stakes; what separates platforms is whether the ones you rely on are there and how quickly they can be modified once a position is open.

Accounts

Account types run to standard, Pro, ECN, Islamic, Demo. The minimum deposit is $50. The smallest position it will take is 0.01 lots, which is what actually governs how precisely you can size risk on a small account.

A demo account is available, which is the cheapest way to find out whether the platform suits you. Swap-free Islamic accounts are offered. Professional classification is available for clients who qualify, which lifts leverage caps and lowers the protections that come with retail status - a trade rather than an upgrade. Opening takes approx. 2 minutes.

Accounts can be denominated in 8 base currencies. Funding in the currency you trade removes a conversion charge from every position, which is a small saving repeated indefinitely.

Deposits and withdrawals

Deposits can be made by Visa, Mastercard, bank transfer, Skrill, Neteller, cryptocurrency, SEPA and local payment methods. They clear in instant for cards, crypto and many electronic/local methods.

Withdrawals go out by bank transfer, cards, Skrill, Neteller, crypto and supported local payment methods. Expect processed within 24 hours. The minimum withdrawal is $50. Check the withdrawal routes rather than the deposit ones. They are frequently not the same list, anti-money-laundering rules usually require funds to return the way they came, and the difference only becomes apparent at the point you want your money back.

Local payment methods include PIX; Boleto; GCash; DragonPay; Thai QR; PayRetailers; KoraPay; PaymentAsia; Pagsmile; Fatoorah and others - which matters more than it looks if you are outside the broker's home market, since an international wire is slow and expensive compared with a domestic transfer.

Support and education8.0/10

Support runs 24/7. That is worth more than it sounds on a leveraged account: markets gap at inconvenient hours, and a position you cannot get help with is a position you carry until somebody answers. You can reach them by live chat, email, phone. Live chat typically answers in under 2 minutes. Support is offered in multilingual.

Its education is substantial - Trading 101, educational articles, guides, platform education and webinars - which is the difference between a broker that will teach you and one that will simply take the deposit. Research output covers market analysis, daily market updates, technical and fundamental analysis, trading tools.

The company behind the brand

The company behind the brand is MEX Group Worldwide Limited, registered as 1580104. It operates from Dubai, United Arab Emirates. It has been trading since 2005, which puts roughly 21 years and several market cycles behind it - including conditions that removed a good number of its contemporaries.

It is independently owned rather than part of a larger group. It is privately held, so its finances are not published the way a listed group's are. Headcount is in the 1,000+ range.

You may also see it under MultiBank Group; MultiBank FX; MEX Markets; MEX Atlantic. Brands and legal entities rarely map one to one in this industry, and the name on the website is not always the name on the client agreement.