MultiBank Group declares itself as the world’s largest online derivative provider. This company got originated in the California, United States Of America in 2005, and then, it moved to Hong Kong. Nowadays, the headquarters of MultiBank is found in Hong Kong. Not just that, MultiBank is also operating in 25 different countries as it has spread its brokers in:
- Asia
- Europe
- Australia
- North America
- Africa
The brokers are available to get 280,000 clients from 90 plus countries worldwide. Although MultiBank has a lot of clients from the USA, still the company moved to another country because of the rules and regulations of the USA that were not matching the company’s criteria. However, this factor makes the company a little doubtful for people. And now, MultiBank is not allowing any US clients to open their accounts.
Electronic Trading Network
MultiBank is providing its consumerswithpermission to get access to raw spreads that are starting from 0.0 pips by using its exclusive Electronic Trading Network ECN. This is beneficial for the clients as the trade of client gets performed within seconds. This brand also possesses and uses the MEX exchange that permits the institution and the clients to trade financial derivatives and trade forex.
MT4 And MT5 Platforms
The MT4 and MT5 are the Meta trading platforms that are offered by MultiBank to its clients. Every style of trading is permitted as you can rent, purchase, create or even install your expert advisors on any platform you like. MultiBank got awarded for its Meta trading platforms and became a global broker.
Advantages
- MultiBank is regulated by 7 different jurisdictions that are: CIMA, FMA, CNMV, DFSA, FSC-BVI, ASIC, and BaFin.
- This company allows social trading and also there are MAMM and PAMM accounts available for its clients.
- The facility of VPS is provided by the company and there are no extra charges for this facility.
- ECN trading is permitted with the spreads beginning from 0.0pips and reach up to 1:500.
- Nano-second implementations of the command and no delay or rejection in account opening.
Disadvantages:
- US clients are not permitted to create an account.
- Even if your account is inactive for three months still you have to pay the inactivity fee that is $60 and it is charged from the dormant account.
- There are no such training resources provided or you can say educational resources are completely missing from the website of this company.
- The charges for opening an ECN Pro account are very high and you have to pay a non-refundable huge amount for opening such an account.
Wrapping Up!
After understanding some positive and negative points from the MultiBank review,it can be said that it is a little risky to invest in this Forexcompany because it does not have many good customer reviews. It is also suspicious that why this company left the US. Additionally,MultiBank has prohibited US clients to create an account as an act of revenge for the US.
