There are many brokers these days those are running various app and providing services for online investment in trading. These platforms have pros as well as cons; here we are going to discuss some pros and cons of Multibank Group that facilitates traders to make a right decision for choosing a platform for trading.
Regulation and Safety:-
MultiBank, authorized by six regulators, continues to be fully compliant with all of them. Multibank FX, the trade name of Multibank FX International Corporation, appears to be the main entity serving international clients. The British Virgin Islands Financial Services Commission (FSC) regulates this subsidiary.
Additional regulation exists through the Australian Securities and Investments Commission (ASIC) for MEX Exchange, the German (BaFin) for MEX Asset Management (Germany), the Austrian (FMA) for MEX Asset Management (Austria) , the Spanish National Securities Market Commission (CNMV) for MEX Spain, and the Cayman Islands Monetary Authority (CIMA) for MEX Wealth Management.
Table of Contents
MultiBank displays a somewhat confusing account structure, mainly because it refers to accounts as platforms. The three account types are Maximus, MultiBank Pro and ECN Pro. Generally, traders will have a similar trading environment regardless of account type, the most significant difference being more competitive spreads in exchange for a higher minimum deposit.
While Maximus is suitable for newer retail traders with smaller deposits looking for a generous deposit bonus, both Pro versions grant a superior cost structure, making it the ideal ECN Pro account for high frequency traders.
“MultiBank offers various types of bonds to its clients, however only to those residing outside the EU.” MultiBank offers various types of bonds to its clients, however only to those residing outside the EU. At the time of writing this review these are the bonuses available:
100% bonus (up to a maximum of $ 20,000) is available on the MT4 Maximus and MultiBank Pro platforms only for new customers. Specifically, it is a bonus that cannot be lost but cannot be reused and can only be used to trade gold and Forex.
This bonus can be lost, must be used less than three months after opening the account and can be withdrawn at a rate of $ 200 for every 80 lots (rounding) traded.
The imperial bonus is volume-based and applies to clients who make their initial deposit; basically traders must trade up to a specific number of lots to qualify for the additional bonus. The bonus starts at $ 40 for 40 traded lots and can go up to $ 5,000 for 1,520 traded lots.
The referral friend’s bonus is granted when the friend has managed to trade with a certain number of lots, starting from $ 100 for 25 lots and reaching $ 400 for 100 lots traded.
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