Is MultiBank Regulated? Is it safe? - TU Expert review
License is the most important document you have to consider when choosing a broker. Many traders, who would like to start working with MultiBank try to check whether it is regulated. Traders Union experts have already done that. In this article, you will learn whether MultiBank is regulated, what regulatory authorities supervise the broker and whether it is safe to work with the company in general.
Short summary about the broker MultiBank
Established in 2005, MultiBank Group has successfully stamped its authority in the world of trading. It has a valid impact in the foreign exchange industry with providing exemplary products, services, and trading platforms. With a paid-up capital of over $322 million, MultiBank Group is recognized as one of the largest only financial derivatives providers worldwide.
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The Group is closely supervised by 11 financial regulators worldwide across various jurisdictions, what ensures investor protection. Entities regulated by SCA (20200000045), MAS (CMS101174), CySEC (430/23), ASIC (416279), AUSTRAC (100724469), BaFin (HRB 73406), FMA (491129z), FSC (SIBA/L/14/1068), CIMA (1811316), TFG, VFSC (700443).
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20,000+ CFD Products across six asset classes including Forex, Metals, Commodities, Indices and Cryptocurrencies
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Lowest spreads, starting from 0.0* pips on Forex, and $0.07 on Gold.
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Multi-lingual Expert Customer support 24/7
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Guaranteed funds withdrawals within 24 hours
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Zero commission trading and negative balance protection
| 💰 Account currency: | USD, GBP, EUR, CHF, AUD, AED, NZD, CAD |
|---|---|
| 🚀 Minimum deposit: | $50 |
| ⚖️ Leverage: | Up to 1:500 |
| 💱 Spread: | from 0.0 pips |
| 🔧 Instruments: | Forex, Metals, Shares, Indices, Commodities, Cryptocurrencies |
| 💹 Margin Call / Stop Out: | 50% |
Pros and cons of MultiBank
👍 Advantages of trading with MultiBank:
•the ability to trade from professional ECN accounts with floating spreads from 0.1 pips;
•popular trading platforms MT4 and MT5, mobile applications and web terminals compatible with various OS and browsers;
•several options for passive earnings including a service for copying trades, PAMM accounts, free MAM, EA, VPS, API and an affiliate program.
•ECN start from 0 pips.
👎 Disadvantages of MultiBank:
•lack of micro (cent) accounts;
•trading restrictions on scalping;
Why is it important to work with a regulated broker?
License is a document that certifies that a broker operates legally and guarantees fulfillment of its obligations to the traders. A financial license is issued by a financial regulatory authority of a country (the National Bank) or a specialized authority (for example, Securities Commission, Futures Trading Commission, etc.). It is important to choose licensed brokers for the following reasons:
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A license guarantees that the broker operates in compliance with the rules of the financial regulator that issued the document.
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In order to obtain the license, a broker must comply with certain requirements, for example, the size of the authorized capital or personnel qualification. It is simply not lucrative for scammers to comply with such requirements.
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A broker’s license provides access to real markets, and you can be sure that the quotes are real and up-to-date.
The best option is to work with a broker that holds the license of the jurisdiction, where the trader resides. You can also choose a company with a financial license of another reliable jurisdiction, for example, the U.S. or the European Union.
Is MultiBank Regulated? Broker’s license
Security (Protection for Investors)
MultiBank Group is a heavily regulated broker, verified by 11 financial regulators worldwide. Their latest entity, MEX Atlantic, is taking their success a step further by offering an insurance policy with Lloyd’s of London, that protects clients’ funds up to 1 million USD per account. To secure client funds further, MultiBank Group provides their clients with:
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Segregated accounts
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Tier 1 Banking
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Paid up capital of $322 million USD
Brokerage fees
Broker’s regulation is the most important choice criterion. However, before you start working with the broker, it is also important to analyze its commissions and fees. TU analysts have studied the commissions and fees charged by MultiBank, which you can see below.
The commission charged for Pro account users is $3 per lot per trade in the case of Forex trades.
Multibank beats its nearest competitors when it comes to trading costs for EURUSD and EURCHF pairs. Fees for other popular pairs such as GBPUSD or AUDUSD are closer to the market average but still competitive.
Brokers that are similar to MultiBank
Many brokers operate legally, obtaining relevant licenses and permissions. However, when choosing a broker, it is important to compare their trading conditions. TU experts have prepared a comparative analysis of MultiBank conditions with its closest competitors.
Comparison of MultiBank with other Brokers
| MultiBank | RoboForex | Pocket Option | Exness | Octa | AMarkets | |
|---|---|---|---|---|---|---|
Trading platform |
ECN Pro, MultiBank Pro (MT4), Maximus |
MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader |
Pocket Option, MT5, MT4 |
Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 |
MetaTrader4, MetaTrader5 |
MT4, MT5, AMarkets App |
Min deposit |
$50 |
$10 |
$5 |
$10 |
$25 |
$100 |
Leverage |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
Trust management |
Yes |
No |
No |
No |
No |
No |
Accrual of % on the balance |
No |
No |
No |
No |
No |
No |
Spread |
From 0 points |
From 0 points |
From 1.2 point |
From 1 point |
From 0.6 points |
From 0 points |
Level of margin call / stop out |
No |
No |
No |
No |
No |
No |
Execution of orders |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution, Instant Execution |
No deposit bonus |
$1 |
No |
No |
No |
No |
No |
Cent accounts |
No |
Yes |
No |
No |
No |
No |
The MultiBank Group is a broker for active trading and passive investing, the conditions of which are primarily suitable for professional traders.
The minimum deposit in RoboForex is $10. Leverage up to 1:2000. Traders choose RoboForex for reliability, favorable trading conditions, minimum spreads, and commission fees. The company is recommended for beginner traders and experienced investors.
Pocket Option offers a wide range of trading instruments and copy trading services. It constantly improves its service quality and expands the list of assets and trading platforms. The broker is suitable even for novice traders without significant capital due to the low initial deposit. Experienced traders who work with CFDs and binary options can also use Pocket Option’s services.
Exness broker is a trusted broker partner that is compliant with all relevant terms. Exness complies with all payment obligations and pays money earned.
The Octa broker has tried to adapt its conditions as much as possible to the various trading strategies used by traders. However, at the moment the company is more focused on active market participants, rather than passive investors.
AMarkets is a broker that is more suitable for professional trading. Everything here is designed to accommodate trading with EAs and that is the broker’s strength. The weakness of the broker is that it won’t be easy for traders without experience to work here.
Conclusions
MultiBank is a quite reliable broker for trading. MultiBank operates on the license of a reliable jurisdiction and its operation is regularly monitored. However, the company does not offer the best trading conditions compared to competitors. You can choose this broker and not worry about the safety of your funds, but there are better options in terms of trading conditions.
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FAQ
How difficult is it to obtain a brokerage license?
The procedure for obtaining a license differs depending on the jurisdiction, but it is very difficult and expensive to get the document in a reliable jurisdiction. This is why only reliable brokers obtain licenses.
Why is it not recommended to work with offshore brokers?
Offshore brokers have to meet minimum requirements for obtaining a license and reporting, which is why often scammers get such licenses.
Can an offshore broker be reliable?
Yes, although there are not many of such brokers. There are brokers with a good reputation, but with an offshore license. You still need to be very cautious when working with such companies.
How do I check a broker’s reputation?
In order to check a broker’s reputation, you need to read user reviews. However, it is recommended to only use independent websites for that.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.