Multibankfx Forex Review : Is My Money Safe with Multibankfx ?

About Multibankfx

MultiBank Group was established in California, USA, in 2005. Since then, they have evolved into one of the largest financial derivatives companies worldwide, with a current paid-up capital of over $322 million. This is a global CFD and FX broker. The Group was established in California, USA, in 2005 with headquarters in Hong Kong. They are a global financial group whose member companies are active in areas from asset management to brokerage. The brokerage service is operating under several legal entities, regulated by the Australian Securities and Investments Commission (ASIC) and other financial authorities. In this review, they will use MultiBank as a name for the brokerage service.

Octaindia Overview

How To  Start With MultiBank

To Start Trading With MultiBank Indian Residents First Have To Sign Up For An Account By Following The Steps Below.

Step 1. Click On The “Login/Signup” Link On The Top Right Hand Corner Of TheMultiBank Website.

Step 2. In The Form, Fill In Your First Name, Last Name, Mobile Number, Email ID And Password.

Step 3. If You Have A Referral Code, Enter The Code While Creating Your Account.

Step 4. Submit The Form And Wait For An Activation Email To Be Sent To You.

Step 5. Click On The “Confirm Email” Link In The Activation Email.

Step 6. After Your Account Is Activated, You’ll Be Sent A 6 Digit One Time Password (OTP), Which You Have To Enter After Logging Into Your MultiBank Account.

Trading Platforms

MultiBank FX offers the industry-favourite MetaTrader 4 and MetaTrader 5 platforms. Both can be installed via the download centre on the group’s website. Alternatively, the broker’s web trader solution enables investing from any browser and operating system.

MetaTrader 4

Widely regarded as the leading forex trading platform, the terminal is suitable for traders of all skill levels. The platform was released in 2005. Whilst the interface’s design is outdated, the platform boasts key features including:

• Trading history
• Automated trading via APIs
• Advanced interactive charting
• Sophisticated analytical functions
• 30 customisable technical indicators
• 9 timeframes, from one minute to a month
• Instant execution and multiple alternative execution modes

MetaTrader 5

MetaQuotes Software designed MetaTrader 5 as a multi-asset platform for the more experienced trader. Launched in 2010, the solution offers trading in forex, stocks and futures. MT5 promises more advanced trading tools than its predecessor making it a powerful all-round investing solution.

Benefits include:

• DOM Data
• 21 timeframes
• MQL5 language
• Technical support
• Economic calendar
• Additional graphical objects and technical indicators

Leverage

MultiBank FX offers leverage up to 1:500 on currencies, 1:200 on commodities and indices, while shares are offered up to 1:20. These are high leverage rates compared to EU-regulated brokers, for example, that cap ratios at 1:30. Traders should always be wary of the risks associated with leveraged trading.

Mobile Trading

Each account is available on the MT4 and MT5 mobile platforms. The apps are easy to use and well-designed. Users benefit from a long list of indicators, expert advisors for automated trading, built-in customer support and customisable charts. Traders can also make deposits and withdrawals through the mobile apps. Head to the respective app store to download the mobile applications free of charge.

Payments

Deposits

The MultiBank Group offers secure deposits processed within 24 hours. The minimum deposit requirement is $50 and traders aren’t charged any fees. The name of the bank account and trading account must match for the deposit to clear. Available deposit methods include:

• Visa
• Skrill
• Swift
• Neteller
• Globepay
• Mastercard
• Bank Transfer
• Perfect Money
• Payment Asia
• ThunderX Pay

Withdrawals

Withdrawals are also free of charge and available via the same methods as depositing funds: Head to the MyMultiBank area to request a payment. Alternatively reach out to [email protected]. Withdrawal times vary depending on the chosen method and size of revenue but may take several working days.

MultiBank FX Bonuses

When opening a trading account with MultiBank FX, users can choose between various bonuses. A 20% deposit bonus is offered which is 100% withdrawable. An Imperial bonus is available for first-time deposits up to $5,000 once trading targets are met. Additionally, a 100% deposit bonus is available, though requirements are fairly restrictive. For long-term customers, a loyalty bonus up to $3,500 is available.

Accepted Countries

MultiBank FX accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries. Traders can not use MultiBank FX from United States, Hong Kong.

Regulation

MultiBank Group has licenses and regulations across 4 continents and works with financial regulators across various jurisdictions to provide investor protection. MultiBank Group is licensed and regulated by ASIC, BAFIN, CIMA, FMA, TFG, HKCE, MAS, AUSTRAC, BVI, VFSC.

Customer Support

Customer support is a strength of the MultiBank Group, with 24/5 multilingual assistance available through several channels:

• Email address – [email protected]
• Live chat – Bottom right of the MultiBank FX website
• Phone number – Contact us page. Call back form also available
• Video conference – Zoom and Microsoft Teams request form available on the website contact page

Security

The website is reliable, however, there is no 2-step login process on the web trading platform. It also lacks touch ID and face ID functionality. Still, the MetaTrader platforms do offer industry-standard security protocols and keep data relatively secure.