Traders who want to open an Islamic account need to contact Multibank’s customer support and request the service from there. Multibank offers more than 20 different payment methods for the convenience of its clients. Payments are accepted via bank wire, credit or debit cards, cryptocurrencies, or e-wallets. The broker does not charge any internal fees for deposits or withdrawals.

• PRO The Pro account is suitable for traders looking to take advantage of zero commissions, tight spreads, and instant execution.
• For example, a long position on gold would generate profit as the price rises or incur a loss as it falls, all without the need to purchase actual gold bars.
• There is also a white label partnership program for interested brokers.
• His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis.
• The Pro account is suitable for traders looking to take advantage of zero commissions, tight spreads, and instant execution.
• Broken by asset class and compared to the industry average, Multibank offers low spreads on currency pairs, share CFDs and indices, low-to-average spreads on commodities, and high spreads on cryptocurrencies.
• It offers numerous analytical tools and configuration options for comprehensive examination.

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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.

Top Features

• The mobile app version of MT5 affords quick and easy access to the market on the go.
• MultiBank Pro bills this as its “no frills” account, and the Maximus also uses the MT4 platform.
• The MultiBank Pro platform has similar features to ECN Pro, and it uses the MetaTrader 4 platform (one of the industry standards for trading).
• Payments are accepted via bank wire, credit or debit cards, cryptocurrencies, or e-wallets.
• The account was opened with the MEX Atlantic Corporation entity of the broker.
• Please contact us or refer to our Target Market Determination for more information.

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.

An ECN account is best-suited for traders looking for raw spreads and instant execution. The limefx scam Pro account is suitable for traders looking to take advantage of zero commissions, tight spreads, and instant execution. MultiBank Group offers customers direct access to banks and exchanges through its advanced trading platforms.

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.

My Key Takeaways After Testing the MetaTrader 5 Platform

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.

User Experience

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 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.

open trading account

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 limefx forex brokers reviews more.

Are Multibank’s Fees Competitive?

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.

Additionally, traders can explore our newly launched all-in-one platform, MultiBank Plus. Multibank is a forex and CFD broker founded in 2005 in California, USA. Since then, the company established itself as one of the most regulated and trusted brokers in the online trading industry. 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. With MultiBank, you can trade products like Forex, metals, shares, indices, and commodities on a wide range of platforms.