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Alison Heyerdahl
Edited by
Author
Alison Heyerdahl
Edited by
Alison Heyerdahl
Head of Content

Alison Heyerdahl is the Head of Content at FxScouts and a financial writer with extensive experience in Forex trading, broker analysis, and market research. She has reviewed 100+ brokers, publishes weekly YouTube trading videos, and co-hosts the “Let’s Talk Forex” podcast to help traders make informed, safe decisions.

Learn more about Alison Heyerdahl
Author
Author
Chris Cammack
Partner Manager and Financial Writer

Chris Cammack is the Partner Manager and a financial writer at FxScouts. Chris builds and maintains our relationships with our partners to provide our users with the best Forex trading experience.

Learn more about Chris Cammack

MultiBank Broker Review

MultiBank offers an extensive range of share CFDs and competitive trading costs with its ECN account, which features tight spreads and low commission. Despite its excellent offerings for experienced traders, MultiBank's lack of educational and market analysis materials makes it less ideal for beginners.
4.33
/ 5
Min deposit
USD 50
Regulated By
ASIC, B.V.I FSC, BaFin, CIMA, FSC (
MAS, VFSC
)
Trading Cost
USD 15
Leverage
500:1
Copy Trading
Yes
Platforms
cTrader, MT4, MT5
Instruments
Commodities, Cryptocurrencies, Stock CFDs, Forex, Indices (
Metals
)
Visit Broker
Accepts Filipino Clients. Average spread on the EUR/USD is 1.50 pips on trading account with the lowest minimum deposit of 50 USD. Max leverage 500:1. Islamic account available. MT4/MT5 platform supported. MultiBank is regulated by ASIC, BaFIN, FMA, CNMV & DFSA .

Our Verdict on MultiBank

A well-regulated broker with the largest number of CFDs in the industry, Multibank will appeal to experienced traders who prefer paying higher minimum deposits for tighter spreads and those looking to trade share CFDs from a wide range of global stock exchanges. 

Multibank offers support for the MT4 and MT5 trading platforms in addition to a copy trading platform and a range of trading tools including free VPS hosting, MAM/PAMM accounts, and FIX API. Of the three account types on offer, its high deposit ECN account with tight spreads will appeal to more experienced traders.
 
Multibank offers trading on Forex, cryptocurrencies, commodities, metals, indices, and over 20,000 share CFDs, the largest set in the industry. A significant drawback for beginner traders considering MultiBank is the lack of educational and market analysis materials.

Pros

  • Great platform choice
  • Tight spreads

Cons

  • Extreme leverage
  • High commission

MultiBank Overall Summary

Trust Rating
5
Trading Conditions
4
Platforms
4.5
Education
3
Beginner Friendly
3
Assets Available
4.5
Analysis Research
4
Deposit & Withdrawal
4.5
Overall Rating
4.33
/ 5
Base Currencies
USD, EUR, GBP, AUD, CAD
Number of FX Pairs
50
Crypto Pairs
11
Copy Trading
Yes
Hedging Allowed
Yes
Scalping Allowed
No
Islamic Account
Yes
Account Name
Multibank Pro
Commission
3 USD / lot
EUR/USD
0.80
GBP/USD
1.10
USD/JPY
1.00
Negative Balance Protection
No
Company Name
MEX Group Worldwide Limited
Founded
2005
Website Language
English, Arabic, Thai, Portuguese, Vietnamese, Malay, Spanish
Support Language
English
Office Locations
China, and 24 more locations
Support Email Address

Deposit & Withdrawal

banktransfer
bitcoin
globepay
mastercard
neteller
paytrust88
poli
skrill
visa

Supported Platforms

Best cTrader Brokers
Best MetaTrader 4 Forex Brokers
Best MetaTrader 5 Forex Brokers
MultiBank

Ready to trade with MultiBank?


Multibank is a safe broker for Filipinos to trade with. It maintains regulation from some top-tier authorities, including ASIC of Australia.

Is MultiBank Safe?

Founded in 2005, and headquartered in Hong Kong, MultiBank is regulated by numerous top-tier authorities worldwide, including the Australian Securities and investments Commission (ASIC), the German Federal Financial Supervisory Authority (BaFin), the National Securities Market Commission (CNMV) of Spain, the BVI FSC of the British Islands, CIMA of the Cayman Islands, and the Dubai Financial Services Authority (DFSA).

Filipinos will be trading under the Multibank subsidiary regulated in the Cayman Islands (CIMA).

Under this subsidiary, Multibank deposits all client funds in segregated bank accounts and uses tier-1 banks (the safest and most secure) for this purpose. MultiBank also offers negative balance protection, which means that clients can lose all, but not more than the balance of their Trading Account.

Overall, because of its long history of responsible behaviour, strong international regulation, and wide industry acclaim, we consider Multibank a safe broker.

Opening an Account at MultiBank

The account opening process at Multibank is user-friendly, fully digital and accounts are ready for trading immediately.

All Filipino residents are eligible to open an account at Multibank but have to meet the following minimum deposit requirements:

  • Standard Account: 50 USD
  • Pro Account: 1000 USD
  • ECN Account: 5000 USD

Creating an account is straightforward, the process is fully digital, and accounts are usually ready immediately. Multibank offers individual and corporate accounts, but we will focus on opening an individual account:

  1. New traders will have to click on the “Live Account” button at the top of the page where they will be directed to fill in their email address and create a password.

  2. Traders will then have to fill in their personal details, including name, surname, telephone number, country of residence, and expected deposit amount. A verification PIN will be sent to the registered telephone number.

  3. Next traders will have to fill in their trading account settings, including preferred platform, account tier, level of leverage, base currency, employment information, and source of funds.

  4. Once this step is complete, clients are required to fill out a questionnaire that helps Multibank assess the trader’s investment knowledge, experience, and expertise to deem the suitability and relevance of the services on offer. While most brokers don’t include this step in the account-opening process, it is a responsible move in an industry that is often accused of an irresponsible approach to consumer protection.

  5. Traders will then have to upload the following documents:

    • Proof of Identification – Multibank accepts all government-issued identification documents such as Passport, national ID card, driving license, or other government-issued ID. 

    • Proof of Address – Proof of residence/address document must be issued in the name of the account holder within the last 6 months and must contain a trader’s full name, current residential address, issue date, and issuing authority.

  6. Once this step is complete, traders will have to agree to Multibank’s Terms and Conditions.

After the application is approved, traders can log in and fund their accounts.

Overall, Multibank’s account-opening process is fully digital and hassle-free and accounts are generally ready for trading immediately.

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MultiBank’s Trading Instruments

Multibank offers one of the largest ranges of financial instruments in the world.

Available Assets and Leverage

Multibank offers trading on Forex, over 20,000 share CFDs, indices, commodities, metals, and cryptocurrencies.

 
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MultiBank Accounts and Trading Fees

Multibank offers three accounts, which is average compared to other brokers, and its accounts are suitable for beginners and more experienced traders.

Trading Fees

Multibank offers three live accounts on the MT4 and MT5 platforms. Two accounts have trading costs included in the variable spreads, while its Pro Account offers raw spreads in exchange for a commission per lot traded.

Unfortunately, Multibank is not transparent about all the costs associated with each account. While the spreads are published, there is no information about the commissions. We had to collect this information by contacting customer service and discovered that a commission of 3 USD per lot per trade is charged on the ECN account.

The trading costs on the ECN account are lower than those of the Pro and Standard accounts, and lower than those of other brokers. Most other brokers have a trading cost of 9 USD per lot of EUR/USD traded. 

However, at 15 USD, the trading costs on the Standard Account are above those charged on the entry-level accounts at other brokers, and at 8 USD, the trading costs on the Pro Account are around the industry average.

Swap Fees

Another important cost to consider is the swap rate charged on positions held overnight. Interest is paid (or received) for each night a position is held. The swap fees are published alongside each instrument for both the long and short positions.

Account Types

We opened and tested Multibank’s accounts:

Standard Account

Standard accounts are commission-free accounts, with a minimum deposit requirement of 50 USD. Spreads average at 1.50 pips (EUR/USD) on this account, which is wider than the spreads on most other brokers’ entry-level accounts. Most brokers will offer an average spread of 1 pip (EUR/USD) and a minimum deposit of 100 USD or less on their entry-level accounts. The minimum transaction level is at 0.01 lots, Stop Out levels are at 50%, and trading is available on over 55 FX pairs.

Pro Account

With a minimum deposit requirement of 1000 USD, the Pro account is ideal for MultiBank traders looking for an ECN experience. A commission-free account, fees are included in the spreads, which start at 0.80 pips on the EUR/USD, which is average compared to other similar brokers, but still wider than those on similar accounts at other brokers.

ECN Pro

As the name implies, this account is an ECN type with no dealing desk intervention. ECN Pro accounts are professional trading accounts with floating spreads starting at 0.1 pips on the EUR/USD and a round-turn commission of 3 USD, making them one of the lowest-cost trading accounts in the industry.

Demo Account

Those afraid to risk real money on trading will be glad to learn that MultiBank Group offers a Demo Account. The Demo account comes preloaded with 100,000 USD in virtual funds, and it provides access to all the above-listed platforms and financial products. However, demo accounts expire after 90 days. 

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MultiBank Deposits and Withdrawals

Multibank offers a number of deposit and withdrawal methods, which are free of charge and have quick processing times.

Account Currencies and Funding Options

As a well-regulated broker, MultiBank ensures that all Anti-Money Laundering rules and regulations are followed. 

Multibank offers payment via bank transfer, credit and debit cards, and various e-wallets. Deposits and withdrawals are free, and deposits are processed within 24 hours. In order to withdraw funds from an account, one has to submit a withdrawal request online using the MyMultiBank account area.

Multibank offers a number of funding and withdrawal methods, which are free, and instant withdrawals processing.

Base Currencies (Trading Account Currencies)

Multibank offers an average range of trading account currencies compared to other brokers.

Multibank offers six trading account currencies, which is average compared to other brokers, including USD, AUD, GBP, EUR, CAD, and CHF.

For traders that trade in large volumes (more than 10 lots a month), it is better to open an account denominated in USD at a digital currency bank, especially for trading on assets such as the EUR/USD. This is because when trading a USD quoted currency pair with another currency account, there will be a small conversion fee for every trade made.

Overall, Multibank offers an average number of trading account currencies compared to most other large international brokers.

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MultiBank's Trading Platforms

Multibank offers an average number of trading platforms compared to other brokers.

Mobile Trading Platforms

Multibank’s mobile trading platforms are average compared to other similar brokers. It offers mobile versions of MT4 and MT5, but no proprietary mobile trading solutions.

Multibank offers support for MT4 and MT5 mobile trading apps for Android and iOS. Traders should be aware that there is some loss in functionality when compared to the desktop trading platforms, including reduced time frames and fewer charting options. Still, traders can close and modify existing orders, calculate profit and loss, and trade on the charts. 

Trading Platforms Comparison

Broker
Platform Choice
Copy Trading
Platforms
MultiBank
4.5
/ 5
Yes
MT4, MT5, cTrader
Errante
4.5
/ 5
Yes
MT4, MT5
Pepperstone
5
/ 5
Yes
MT4, MT5, cTrader, TradingView, Pepperstone Platform

Desktop Trading Platforms

MultiBank offers forex trading on MetaTrader 4 (MT4) and MetaTrader 5 (MT5), two of the industry’s leading platforms. Both provide automated trading systems with expert advisors (EAs) and are simple to navigate yet offer a powerful range of features, charts, and analysis tools.

MetaTrader 4

MetaTrader 4 is one of the world’s most popular and versatile platforms, offering powerful features to help you make educated trading decisions. Though it is now showing its age, MetaTrader 4 is still popular for its auto-trading features that enable algorithmic trading and strategy backtesting with expert advisors (trading robots). 

Other features of the MT4 include:

  • A built-in library of more than 50 indicators and tools to streamline the analysis process.
  • An impressive array of analytical tools, available in nine timeframes for each financial instrument.
  • Live price streaming on live accounts and demo accounts 128-bits encryption for secure trading
  • Algorithmic trading, which allows any trading strategy to be formalised and implemented as an Expert Advisor. 
  • Customisable alerts
  • Access to MetaTrader market and MQL4 community

MetaTrader 5

Developed in 2010, the MetaTrader 5 platform offers all the features provided by MetaTrader 4, in addition to improved trading functionalities and enhanced scripting tools for custom indicators. It incorporates all of the key features of MT4 and an optimised environment for algorithmic trading using Expert Advisors (EAs). Features include:

  • 38+ preinstalled technical indicators
  • 44 analytical charting tools
  • 3 chart types
  • 21 timeframes
  • Additional pending order types
  • Detachable charts
  • Trailing stop
  • Depth of Market
  • An integrated Economic Calendar.

Overall, although Multibank only offers the MetaTrader suite of platforms, which are not as beginner-friendly as the proprietary platforms offered at other brokers, MetaTrader 4 and MetaTrader 5 are considered some of the best third-party platforms in the industry.

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MultiBank’s Research and Trading Tools

Compared to many other brokers, Multibank offers an average range of trading tools but doesn’t offer any technical or fundamental analysis tools.

Trading Tools

Multibank offers several useful trading tools, including free VPS hosting, Expert Advisors, MAMM/PAMM Accounts, and FIX API. It also offers a social trading platform.

VPS Hosting

MultiBank Group offers all its customers free Virtual Private Servers (VPS) through reliable third-party hosting vendors. 

VPS services ensure that trades are never disrupted by technological or connectivity issues, such as load-shedding or internet service failure, which benefits algorithmic traders who need to be connected to a server 24/7 to maximise uptime. Other benefits of the VPS service include:

  • 24/6 VPS email support
  • 24/7 Redundant power to your VPS
  • 24/7 Redundant internet connectivity to your VPS
  • Low latency connectivity to FP Markets trading servers for precision trading
  • Uninterrupted EA trading
  • Expert Advisors

Expert Advisors (EAs) can be integrated into any MultiBank Group MetaTrader 4 & 5 platform without restrictions to perform automated trades and place orders at any time. EA can monitor everything from indicators, support and resistance levels to multiple timeframes and, in turn, maximize your gains. 

MAM/PAMM Accounts

Multibank offers its clients an account management service that allows account managers to trade on their behalf. To perform this service, bespoke technology or software, also known as MAM/PAMM, is required.

MAM stands for Multi-Account Manager, which permits a range of customisable ways to sub-allocate trades. PAMM stands for Percentage Allocation Module Manager, which means investors can be part of a set of sub-accounts that are traded together by a money manager or trader who has permission from clients to trade on their accounts. Account Managers take a portion of the profits generated by the trades.

Managed accounts are great for beginner traders who have limited experience with trading.

FIX API

MultiBank Group’s FIX API is a turnkey solution for institutional and high-volume clients looking for direct access to market, providing the best prices and conditions. The API trading toolset is a way for traders to build their own applications and use the APIs offered by Multibank to connect those applications to different data sources. These connections are required to build smarter algorithmic trading applications.

Social Trading

Multibank offers a powerful auto-execution system that duplicates the trades of other successful traders.

  • MultiBank Group ranks traders based on trading performance.
  • Copy traders select the best traders to copy based on their capital and risk appetite.
  • The fees for using social copy trading vary depending on the signal provider you wish to follow. Before subscribing to a provider, you will be able to see the details of the offer and the fees.

Overall, Multibank offers a range of useful trading tools, but it doesn’t offer the technical and fundamental analysis tools that are available at other brokers.

Trading Tools Comparison

Broker
Economic Calendar
Autochartist
Trading Central
Trading View
Free VPS
VPS services are usually offered free with a minimum trade volume, otherwise a monthly subscription fee will apply. VPS services are usually hosted by third-party companies.
MultiBank
No
No
No
No
Yes
Errante
Yes
Yes
No
Yes
No
Pepperstone
Yes
Yes
No
Yes
Yes
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MultiBank’s Educational Material

There is no educational content available on the MultiBank platform.

MultiBank for Beginners

According to the support team, MultiBank does not provide any education because it is against regulation. Many brokers with the same regulation as MultiBank offer excellent educational services, so it is hard to understand this argument.

Education Comparison

Broker
Beginner Course
Advanced Course
Well Structured Education
Education Quality
Webinars
MultiBank
Yes
No
Yes
Low
No
Errante
No
No
No
Medium
Yes
Pepperstone
Yes
Yes
Yes
Medium
Yes
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MultiBank’s Customer Service

For the purposes of this review, we found the customer support to be responsive, but uninformed.

24/5 Customer Support

MultiBank offers support in eight different languages, and help is available 24/5 via telephone, email, WhatsApp, and live chat. 

How Brokers Are Scored

FxScouts’ Broker Score and Trust Rating constantly evolve to reflect the forex market’s dynamics. We ensure transparency by incorporating regulator data and user insights. Our in-depth reviews consider over 200 metrics across seven key categories. The radar chart to the left shows how important each category is when calculating a broker’s final score.

  • Trust Rating: Assessment of broker reliability and reputation
  • Trading Costs: Spreads and fees for clear comparisons
  • Platforms: User-friendliness and features 
  • Asset Selection: Forex, stocks, and other available instruments
  • Deposit and Withdrawal: Simple and free deposits & withdrawals
  • Education: Support for beginners and developing traders
  • Customer Support: Accessibility, responsiveness, and expertise

 

Learn how we set the standard for broker reviews. Explore our in-depth review process here.

MultiBank Risk Statement

MultiBank Risk Statement


Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. MultiBank would like you to know that: Trading foreign exchange and/or contracts for differences on margin carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss in excess of your deposited funds. Please refer to specific risk warnings for each regulated entity during the account opening process.

Meet the Experts Behind Our Unbiased Reviews

Chris Cammack

Partner Manager and Financial Writer

Chris Cammack
Chris Cammack is partner manager and senior financial writer at FxScouts, specialising in broker relations and forex market analysis. As the former Head of Content (2019–2024), he set editorial standards for all content published at FxScouts, including broker reviews, broker comparison pages and education. With over a decade of experience in editorial management and partner relations, Chris builds and maintains our relationships with our partners to provide the best Forex trading experience for our users. He also co-hosts the “Let’s Talk Forex” podcast with Alison Heyerdahl, where he explores trading strategies, industry news, and macroeconomic trends to help traders navigate the markets with confidence.

Alison Heyerdahl

Head of Content

Alison Heyerdahl
Alison Heyerdahl is the Head of Content at FxScouts and an experienced financial writer with extensive hands-on experience in the Forex trading industry. She specialises in Forex trading, broker analysis, and market research, with a focus on helping traders navigate the complex world of online trading safely and confidently. Alison has tested and reviewed more than 100 Forex brokers, assessing everything from regulatory status and trading conditions to platform features and customer support. Her goal is to provide honest, detailed, and practical insights that traders can rely on when choosing a broker. She’s also produced more than 100 educational videos for the FxScouts YouTube channel, where she explains trading concepts in a clear, accessible way. As the co-host of the “Let’s Talk Forex” podcast, Alison shares expert commentary on broker reliability, trading strategies, and market developments—always with a focus on transparency and trader protection.

Ida Hermansen

Financial Writer

Ida Hermansen
Ida is a financial writer with a passion for cryptocurrencies, blockchain networks, and Forex trading. A dedicated crypto trader, she developed a deep interest in Forex technical analysis and price action, continually expanding her expertise in market trends and trading strategies. With a background in digital marketing, SEO, and content strategy, Ida combines her analytical skills with clear, engaging writing to help traders navigate the ever-evolving financial markets. She stays up to date with the latest Forex and crypto developments, researching the best trading environments for new and experienced traders alike.

Stefan de Clerk

Financial Writer

Stefan de Clerk
Stefan is a financial writer and Forex trading enthusiast with over a decade of experience creating in-depth content on finance and technology. His deep interest in geopolitical events, big data, and market sentiment fuels his passion for analyzing how global factors shape financial markets. With a background in marketing and financial research, Stefan believes that Forex trading offers the best insight into the pulse of the world economy. Committed to delivering well-researched, unbiased, and objective information, he helps traders navigate the markets with clarity and confidence.
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