Forex, Metals, Shares, Indices Trading Broker

Multibank is a great choice for day traders with various experience levels. Multibank’s Standard account is the most accessible one, with its minimum deposit requirement of $50. However, it also features a combination of spreads and commissions that exceeds the industry average. In contrast, the ECN account offers some of the lowest trading fees in the industry, but its barrier to entry is rather high (at $10,000). The broker impressed me with the wide variety of tools and services it offers its clients, including VPS hosting, FIX API, and Trading Central. Moreover, its trading fees are generally better than the industry average.

However, being relatively new, it has less support and usage among traders. There are a total of 10 educational courses with free access to everybody, available from the website. The lessons cover a wide range of topics pertaining to the basics of trading, essential trading terms and concepts, CFDs trading, and more.

• There is an expert adviser, over eighty technical analytics tools, one-click trading, VPS hosting, and a stop out level of 50%.
• In comparison, the ECN account features the most competitive prices but also has a rather high minimum deposit requirement.
• Since then, we have evolved into one of the largest financial derivatives companies worldwide, with a current paid-up capital of over $322 million.
• Please note that while the broker does not charge a handling fee for deposits or withdrawals, third-party banking fees may apply, subject to the chosen payment method.
• Some features and services may vary depending on where you reside and which entity you open an account with.

Total Profit

Additionally, the customer service offered at this broker is impressive. You can also contact this broker via email, live chat, or video conference, in addition to the dozens of limefx broker reviews phone numbers offered. There is a request form on the Contact Page of MultiBank’s main website. There are several features offered at MultiBank that clue you in as to this broker’s target customers. At MultiBank Group, the educational tools are light, so complete novices might find it a little difficult to get going.

What platforms does MultiBank Group offer?

When trading Contracts for Difference (CFDs), positions can be opened for a fraction of their value because of the leverage. Essentially, the broker lends the trader money so that the latter can open bigger positions. The leverage multiplies the profits a trader generates from winning positions and the losses incurred from failed trades. The broker also offers Islamic accounts for swap-free trading, as mandated under Shariah law.

Multibank Platforms Walkthrough

The table demonstrates how much you would have to pay to trade 1 full lot (100,000 units) in EUR/USD with a pip value of $10 for each account. Join MultiBank Group’s network of over 30,000 Introducing Brokers and enjoy the highest levels of personalized customer care.

including equities of top companies.

Multibank stands out with its impressive range of more than 20,000 tradable instruments. The bulk of the offering is comprised of share CFDs and a fairly large selection of cryptocurrencies. With respect to contract types, Multibank’s instruments can be traded on the spot market or through futures contracts.

• While the spread rate on the Standard account exceeds the industry average, the Pro and ECN accounts offer trading conditions that are more favorable compared to the industry average.
• In contrast, the ECN account offers some of the lowest trading fees in the industry, but its barrier to entry is rather high (at $10,000).
• I like that after covering each topic, you can practice what you have learned by taking a quiz.
• However, the agents were able to guide me through the process fairly quickly.
• However, that’s not to say that you need to be a seasoned pro to join this broker.
• It offers more than 20,000 tradable instruments across six asset classes, including forex, metals, indices, shares, and cryptocurrencies, on three account types with competitive pricing.

MultiBank Pro bills this as its “no frills” account, and the Maximus also uses the MT4 platform. It sets the standard for trading and has the most support out of any platform. Finally, newbies can check out 11 videos outlining the proper use of the broker’s several platforms. Five of those are dedicated to MetaTrader, and the other six examine the use of the Multibank-Plus platform. The ebooks also have a heavy emphasis on the study of technical analysis but also focus on the psychology of trading.

My biggest issue was setting up a demo account due to the broker’s KYC policy. However, the agents were able to guide me through the process fairly quickly. On the other hand, its dated and rugged design falls short compared to newer, sleeker platforms.

To the extent any advice is provided, it is general advice only and does not take into account your objectives, financial situation or needs. PRO The Pro account is suitable for traders looking to take advantage of zero commissions, tight spreads, and instant execution. Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice limefx broker reviews traders face today.