The spread you’d end up paying to trade eight million units of currency will end up being greater than the deposit bonus. MultiBank Group, in operation since 2005, is home to numerous global brands and is regulated in jurisdictions all over the world. Yes, MultiBank Group offers bonuses and promotions for both new and existing traders. However, the bonuses offered by MultiBank Group are subject to change. You can check the latest bonuses and promotions on the broker’s website. As the broker offers multilingual support, you can contact a customer support representative in your native language.
Is MultiBank’s 20% deposit bonus legit?
In addition, access to popular platforms and 24/7 technical assistance make it a popular choice. Multibank’s Standard account is the most accessible one, with its minimum deposit requirement of $50. However, it also features a combination of spreads and commissions that exceeds the industry average. In contrast, the ECN account offers some of the lowest trading fees in the industry, but its barrier to entry is rather high (at $10,000). We also take an in-depth limefx look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points.
Forex Risk Disclaimer
Compared limefx forex broker to other brokers, the minimum deposit required for an account is quite low, making it suitable for both beginner and experienced traders. Moreover, as it’s a regulated broker, you can be sure that your funds are safe and secure with them. Pricing varies across account types, with the Standard account’s fees higher than average, whereas the ECN account offers some of the industry’s lowest trading fees.
After your account is approved, you will be able to start trading with them. However, as MultiBank has also implemented Know Your Customer (KYC) and Anti-Money Laundering (AML) policies, you will have to submit some documents to verify your identity. The withdrawal options at MultiBank Group include wire transfer, credit/debit card, and e-wallets such as Neteller and Skrill. Check MultiBank Group’s website for the withdrawal option available in your country.
- In contrast, the ECN account offers some of the lowest trading fees in the industry, but its barrier to entry is rather high (at $10,000).
- Overall, we can say that the fees at MultiBank Group are reasonable when compared to other brokers.
- MultiBank Group allows traders to trade various financial assets, including FX, metals, equities, indexes, commodities, and cryptocurrencies.
Standard account
I have now closed all communication with Multibank, but remain at a loss of full refund through the incompetancy of the organization. It is all fine until something goes wrong and then their attitude changes completely. MetaTrader 5 is the successor of the popular MetaTrader 4 trading platform. The MT5 platform is an all-in-one trading platform that offers a wide range of features and tools for both beginner and advanced traders. MultiBank Group is a multi-asset broker that offers over 20,000 tradable assets across different financial markets, including forex, metals, energies, indices, shares, and cryptocurrencies. Yes, MultiBank offers demo accounts for traders to practice trading methods and get acquainted with their platforms without risking real funds.
Pros & Cons
Contact us directly for further inquiries about our products and services. The documents required for account verification at MultiBank include a valid ID document such as a copy of your passport, national ID, or driving license. In addition, you will need to provide a Proof of Residence (POR), such as a copy of your utility bill or bank statement, issued in the last 3 months. You can check the document requirements depending on your country on the MultiBank website.
Moreover, its trading fees are generally better than the industry average. You can contact customer support through live chat, email, or telephone. The customer support team is highly-skilled, and they will be able to answer all your queries. MultiBank Group is a reliable and secure choice for forex trading as they offer priority support to all their customers.
