MultiBank Group is one of the popular ECN brokers that is multi-regulated by different Financial Conduct Authority. It permits its customers to do trading on more than 1000 Forex and CFDs accounts by using the Meta Trader 4 platforms. MultiBank is not just limited to the website as it has launched its application, and now its clients can get access to their accounts by using the app on their smartphones.
Hence, users have the option to utilize their social trading platforms, free VPS, and MAM account through MultiBank. But, there are some pros and some cons of this company. You can’t claim this broker to be completely safe and secure. There are some risks factors involved in creating an account with this company.
Pros Of Multibank Exchange Group
- MultiBank claims that it is regulated by 7 different regulatory bodies.
- The company offers a social trading feature.
- There are different conditions for competitive trading.
- MultiBank declares that its commission fees are very low from others.
- There is an option to create MAM and PAMM accounts.
- A facility of free VPS is provided to all of the merchants.
- There are options to create a demo account or an Islamic account.
- MultiBank is an internationally regulated forex exchange broker.
- CFD and forex commissions’ charges are low.
- The trading platforms of MultiBank MT4 and MT5 are regulated by four continents.
- MultiBank trading can easily be performed on 100 plus different exchanges.
- Meta Trader 4 and Meta Trader 5 are the most famous trading platforms provided by MultiBank.
- There is an option of commission-free trading.
- There are ECN trading accounts available.
- Separate funds for clients are also given.
- By using the free VPS, hosting can be done and account management through the MAM modules is possible.
- A good bonus program is offered by the company for attracting more customers.
- ECN model is available depending upon the account.
- A hybrid market marker is possible.
- Amazing withdrawal and deposit methods.
Cons Of Multibank Group
- US customers are not permitted to create an account in MultiBank.
- The charges of inactivity of the account are too high, and they are detected from the user account.
- There is no option of fixed spread count available.
- A very tight spread feature is accessible for the customers.
- The trading conditions of the company vary according to different jurisdictions.
- There are no educational tools available on the website, and very little research material is obtainable there.
- The instruments are very limited in number.
- Cryptocurrencies are not offered by MultiBank.
- This broker is not a recognized broker and a lot of scam detectors have declared it a scam.
Although there are so many pros of MultiBank, there are many negative points of this company, too. Thus, this company is quite risky to invest your hard-earned money. Because of the drawbacks, this exchange company is losing its loyal customers. MultiBank reviews of different customers tell that this company has scammed a lot of people.