Based on its trading product selection, MultiBank Group is indeed quite possibly the biggest provider of financial derivatives in the world. Launched back in 2005, the operation has had plenty of time to establish its brand and reputation and to pile up an almost ridiculous number of awards from various financial organizations and events, mostly from the Middle East and Asia.
In light of the fact that the operation boasts paid up capital in excess of $322 million, and that in 2016, its client base exceeded the 280,000 mark, the claim at the site that the brokerage is the #1 Forex company in the world, does not look ridiculous at all. Mind you that since 2016, the brokerage has registered more growth, so the above quoted numbers have long been surpassed.
So, why should you pick MultiBank Group as your top Forex/CFD trading destination? There are scores of arguments in favor of that decision. First of all, besides offering unparalleled liquidity and product selection, MultiBank Group run a series of promotions that no trader will ever want to skip, once he learns of their terms and conditions.
Sure, MultiBank Group’s new traders get a 15% match on their first deposits, which they can redeem through the ECN Pro and Multibank platforms, but that is just the tip of the proverbial promotional iceberg. 200 lots have to be round-trip traded to claim $1,000 of the bonus, so it is definitely not the most attractive promotional deal offered by the brokerage.
That designation would have to go to the Demo Competition, which is essentially a trading competition run through the Demo account offered by the broker. Since this is a demo account-based affair, it’s obvious that it does not require participants to put any real money onto the line. Despite that, the competition offers real money prizes, one of which is a brand new Mercedes Benz E-class car. The demo accounts contain some $50,000 in virtual funds. The length of each trading competition is one month, and besides the above said car, serious cash prizes can be picked up. The winner of each competition gets $10,000. The runner-up is rewarded with $3,000 and the second runner-up picks up $2,000.
The platform on which the competition unfolds is the ECN Pro one, and the RT target is 1,000 lots for each promotional period. Besides the three monthly winners, an overall winner shall emerge, who will take home the Mercedes. To be eligible for the Grand Prize, participants have to take part in at least 3 monthly competitions during the 6 month promotional period, and in each of those 3 competitions, they have to fulfill the above mentioned RT target.
The qualifying participant with the highest total combined equity will take home the car.
MultiBank Group Regulation
While the above described promotions certainly add value to the MultiBank Group offer, let us not lose sight of a factor that is – without a doubt – more important still in determining the suitability of a trading destination: regulation. MultiBank Group appear just as sturdy from this angle, as they do from every other perspective: they are present and regulated on no fewer than 5 continents, and they serve clients in 90 countries.
One of the regulatory agencies that granted MultiBank Group a license is Australia’s ASIC, one of the most exigent regulatory agencies in the world. The UK’s FCA is another. The operation is also regulated by Germany’s BaFIN, as well as by the Financial Services Commission of the British Virgin Islands. Last, but not least, the Monetary Authority of the Cayman Islands has lent its approval to the brokerage too.
MultiBank Group Trading Platforms
The trading platforms featured by MultiBank Group are mostly based on the battle-tested MT4 platform and they do indeed deliver all the perks and features one may expect from this technical analysis powerhouse. What that means is that the suite of technical analysis tools includes a wide range of time frames, drawing tools and indicators. The platforms can be downloaded for free, directly from the MultiBank Group website, and they come with ~50 preinstalled technical indicators. Users are free to purchase and install more such indicators, or to develop their own, custom ones.
Perhaps the most appreciated features of the platform are the ones linked to MT4’s EAs though. These Expert Advisors are essentially auto traders, which are meant to do the heavy lifting for their handlers. They work best with a proper VPS service, which allows traders to run their EAs 24/7, without having to turn on their own computers. The MultiBank Group website offers detailed instructions regarding the setting up of these VPS services.
MAM and PAMM accounts are also offered to traders interested in keeping track of a group of other traders, or trading for a group of people.
The Pure ECN Pro platform is the one that gives traders the best trading conditions. This platform features the tightest spreads. Through this platform, traders can access the full Forex, CFD, spot metals and commodities offering of the brokerage. The per lot round-trip commission featured by the ECN Pro platform is $4. Scalping and the use of EAs is allowed on this platform for premium traders, without any kinds of restrictions. The spreads are floating and the minimum on the EUR/USD pair is 0.1 pips.
The Maximus MT4 platform also makes use of an ECN connection. While the spreads start from 1.4 pips on the EUR/USD, the platform features no commissions and it requires low investment commitments. Scalping and EAs can be used without restrictions. The spreads are floating on this platform too.
The Multibank platform is also a decent alternative to the ECN Pro one presented above. The spreads are very low on this account, and there are no commissions per lot either. The required investment commitment is very attractive as well.
The Turbo Meta MT4 platform is also one without commissions and a low investment requirement. The spreads on the EUR/USD start from 2 pips. The platform uses an ECN connection.
The MT5 platform, which is the natural evolution of MT4, delivers all the features of its predecessor and more. It comes with one-click trading, integrated VPS, and more than 80 technical indicators and trading tools. Through MT5, traders will find it easier to create their own technical indicators and EAs too, because the scripting tools used to create these indicators have been improved.
MT5 supports all order types and it provides alert notifications in regards to various market events. Automatic trading signals and copy trading is available through the platform as well. Scalping and the use of EAs is allowed without any restrictions too.
MultiBank Group’s Background
The founder and current chairman of the Multibank Group is Naser Taher, a seasoned financial pro, who has racked up experience with institutions such as Barclays, BNP Paribas, UBS, Citibank, Credit Suisse and others.
The whole board of directors is presented on the About Us page of the brokerage, with pictures and personal career milestones.
MultiBank Group may indeed be the biggest and best Forex and CFD trading destination out there. Backed by several solid corporate entities, the brokerage offers great trading conditions, a superb selection of trading platforms and ridiculously attractive promotions.
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