Since its founding in 2005, MultiBank Group has grown to over 600 employees across the globe. The broker is well-capitalized, according to the MultiBank Group website, with more than $322 million in paid-up capital.

The group offers services to over 320,000 customers through its various businesses, which include MultiBank Group brands like MEX Exchange, which is governed by ASIC, MEX Global Markets, which is governed by MAS in Singapore, MultiBank FX International, which is governed by FSC in the British Virgin Islands, and MEX Atlantic, which is governed by CIMA in the Cayman Islands.

MultiBank is a multi-asset broker that provides access to underlying crypto assets through its licensed cryptocurrency exchange as well as forex and CFDs through the MetaTrader and cTrader platform suites (although not all markets are immediately available).

On the down side, MultiBank’s performance in these crucial categories lowers its overall rating because its market research offering is unimpressive and its educational content is scant.

Trading Instruments MultiBank Group

The relevant brand entities of MultiBank Group around the world provide forex, CFDs, and underlying cryptocurrencies. In addition to 13,819 stocks, 11 cryptocurrencies, 10 commodities, 41 forex pairs, 4 metals, and 27 indices, MultiBank advertises 13,912 tradeable markets. When logging into the broker’s available platforms, the vast majority of MultiBank’s listed offerings are, however, unavailable at first.

The truth is that on its MetaTrader and cTrader platforms, there are only 1042 markets available by default. Although MultiBank’s MetaTrader platform has 982 symbols available, which is comparable to the industry average, traders who want to access the full range of MultiBank’s advertised markets must send manual requests via email. Contrary to how most brokers deliver investment products, this frustrating process. Finding trading opportunities is made significantly easier by the best forex brokers who make all markets accessible directly within the trading platform.

Scalping: Although scalping is not forbidden, according to the terms and conditions of your account with MultiBank, you must give advance notice if you intend to use an Expert Advisor (EA) for algorithmic trading.

Fees and commissions

For forex and CFD Trading, MultiBank offers three account types across its international entities: Standard, Pro, and ECN.

The Standard account has higher relative spreads but only requires a $50 minimum deposit. I think it’s best to stay away from MultiBank’s Standard account unless you’re totally new to it. The Pro account has lower spreads than the Standard account but requires a $1,000 minimum deposit. The MultiBank ECN account offering, which has a $5,000 minimum deposit requirement and a $3 round-trip commission fee per trade, offers the lowest spreads the company has to offer.

Non-trading fees: If your account is inactive for 90 days without any trading activity, MultiBank Group charges a $60 monthly inactivity fee.

Deposit and Withdrawal

The Plus500 trading app provides a satisfyingly seamless transition between platforms because it closely resembles the WebTrader browser platform in terms of appearance, feel, and functionality.

Nevertheless, the Plus500 trading app lacks the cutting-edge features and general functionality to compete with market leaders, just like its WebTrader counterpart.

Trading tools: With 109 indicators and more than 20 drawing tools, Plus500 has significantly improved its charting. There is still room for improvement, though, and I’d like to see more features added, like news, research, and sophisticated trading tools, all of which are currently missing from Plus500’s mobile app.

Mobile App and Trading Platforms

The MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms from MetaQuotes Software Corp., as well as the cTrader platform from Spotware Systems, are all available through MultiBank Group.

Mobile Android users can access MT4 and MT5, while iOS and Android users can access cTrader.

MetaTrader: The well-known MetaTrader 4 (MT4) and MetaTrader 5 (MT5) desktop and web platforms are standard at MultiBank Group brands, and live account holders have access to streaming news headlines from Dow Jones Newswire. These platforms were created by MetaQuotes Software Corp.

cTrader: MultiBank Group offers desktop and mobile access to cTrader, a product of Spotware Systems. With little broker customization, both platforms are provided by the developer in their standard form.

Three options are available through MultiBank Group brands for social copy trading: an internal web platform, the MetaTrader Trading Signals market, and cTrader Copy. Due to the limited number of default strategies, I do not advise using cTrader Copy; instead, MultiBank’s internal copy trading platform and the MetaTrader Trading Signals are preferable choices for copy trading at MultiBank. I was happy to see MultiBank Group brands developing this technology, even though the in-house copy trading platform doesn’t yet deliver the same depth of features as you’d find with industry leaders in this category.

Trading Instruments: MultiBank doesn’t offer a wide range of trading instruments. A few basic calculators and Virtual Private Server (VPS) hosting options are available to traders via third-party providers, among other trading tools. On the MetaTrader and cTrader platforms, MultiBank offers a standard platform offering.

Market research

Due to the dearth of substantial internal or external research content, MultiBank Group performs poorly in this category. The broker’s research selection is primarily restricted to a weekly newsletter and FXStreet news headlines displayed within the cTrader platform.

Despite having a YouTube channel, MultiBank rarely engages in actual market analysis in its videos, which are typically promotional in nature. The channel itself is also not very active. Along with some related news headlines and Analyst Ratings powered by TradingView plugins, there are a few themed landing pages that cover specific assets. On the web platform of Plus500, the +Insights panel contains a Global Trends section.

Education MultiBank Group

The only educational resources offered by MultiBank are some simple videos and ebooks produced by MTE Media, which are accessible through a newly created education section on the broker’s website. I was glad to see this new educational portal, and I anticipate seeing more MultiBank content in the future. However, if this broker hopes to compete with the top brokers in terms of education, it still has a ways to go.

There is room for improvement: I would prefer to see internal staff content in addition to the materials from MTE Media. MultiBank Group’s educational program might be improved by the inclusion of educational quizzes with progress tracking (features provided by some of the top brokers in this category).

Conclusion on MultiBank Group

The broker holds numerous regulatory licenses, including Tier-1 licenses in Singapore and Australia. MultiBank Group’s best attribute is its comparatively high Trust Score. Its authorization to function as a cryptocurrency exchange is also significant.

Although MultiBank Group brands still have a ways to go before they catch up to the leaders in the field in research and education, the broker is making strides in other areas. I was pleased to see that it had created its own social copy trading platform and that the spreads on its ECN Account option were reasonable. To balance MultiBank’s overall offering, it would be helpful to make its entire range of markets available by default and to include more learning and research materials.