This innovative service enables clients in the UAE to conveniently deposit and withdraw funds through Al Ansari Exchange’s extensive branch network. Yes, deposit bonuses offered by MultiBank Group are legit, but that doesn’t necessarily mean you’ll be able to redeem them. Such bonuses come with steep volume requirements that must be met before redemption is allowed, and it’s possible for your losses to far offset the amount promised by the bonus. Always read the fine print, and make sure that you fully understand the terms and conditions of any promotional offerings – especially in the case of forex deposit bonuses. Overall, MultiBank is a solid choice for anyone who wants a broker with longevity in the industry, multiple account options, and VPS hosting.

Trade with a trusted broker

The MultiBank Pro platform has similar features to ECN Pro, and it uses the MetaTrader 4 platform (one of the industry standards for trading). However, compared to ECN, you don’t have to make as high of an investment. ECN Pro requires a minimum deposit of $5,000, while MultiBank Pro requires a minimum account size of $1,000. An experienced media professional, John has a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets.

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At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here). The Standard account requires just a $50 minimum deposit, but comes with higher relative spreads. In my opinion, MultiBank’s Standard account is best avoided unless you are a complete novice. The Pro account requires a $1,000 minimum deposit but features lower spreads than the Standard account.

Top Features

You expressly agree that your use of the information within this article is at your sole risk. MultiBank Group’s best feature is its relatively high Trust Score; the broker holds multiple regulatory licenses, including Tier-1 licenses in Singapore and Australia. Also worth noting is its license to operate as a cryptocurrency exchange. Educational content at MultiBank is limited to a series of basic videos and ebooks powered by MTE Media, which are available on a new dedicated education section on the broker’s website. I was pleased to see this new educational portal, and I’m looking forward to seeing more content from MultiBank. That said, this broker still has a long way to go if it wants to compete with the best brokers for education.

1. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
2. Islamic traders also need not feel left out, as there are Islamic Account options for those who follow the Muslim faith.
3. You can also contact this broker via email, live chat, or video conference, in addition to the dozens of phone numbers offered.
4. An experienced media professional, John has a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets.
5. MultiBank Group, established in California, USA, in 2005, serves over 1 million clients in more than 100 countries and maintains a daily trading volume surpassing $15.6 billion.

However, that’s not to say that you need to be a seasoned pro to join this broker. MultiBank Group holds multiple broker licenses in a variety of jurisdictions, including from Tier-1 regulatory bodies such as the Australian Securities & Investment Commission (ASIC) and the Monetary Authority of Singapore (MAS). MultiBank Group does not rank highly in this category, due to the lack of any significant in-house or third-party research content. For the most part, the broker’s research offering is limited to a weekly newsletter and news headlines within its platforms. To set up a live account at MultiBank Group, you’ll need to submit the same personal information that is required by every regulated forex broker for Know-Your-Customer (KYC) and Anti-Money Laundering (AML) compliance purposes. You’ll also need to specify some limefx scammers trading account settings, answer suitability questions, and provide proof of identity (such as a Passport or other Government-issued ID) along with proof of address.

The broker clearly has a lot of longevity in the industry, as well as a solid reputation. An ECN account is best-suited for traders looking for raw spreads and instant execution. Since then, we have evolved into one of the largest financial derivatives companies worldwide, with a current paid-up capital of over $322 million. Joey Shadeck is a Content Strategist and Research Analyst for ForexBrokers.com.

Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA). And while we don’t review forex broker bonus offerings, it’s worth noting that the bonus offer by MultiBank is only available on its Pro and Standard accounts, and not on its ECN account (which has lower spreads).

The same funding options available for deposits scammed by limefx can be used to withdraw funds at MultiBank. Though processes may vary depending on the MultiBank Group entity that holds your account, withdrawals typically require a withdrawal request form. Platforms like MetaTrader 4 and MetaTrader 5 have become industry standards for a positive user experience, so that bodes well for MultiBank.