MultiBank FX Trading Account – Review, Types, Process, Benefits, Charges & moreLast Updated Date: Apr 26, 2022
Get to know everything about MultiBank FC Trading Account here.
MultiBank FX is a California-based CFD broker that was established in 2005. The broker has won many awards and is quite famous in the United States.
The multiBank group is now an international trading group and has headquarters in Hong Kong and some other popular locations worldwide that include Dubai, Marbella, Malaysia, London, Australia, and Germany.
Due to its vast stretch in the market, the company serves over 320, 000 traders in almost 90 plus countries.
MultiBank FX also provides multilingual customer support that is available 24×7. The customer support types include phone numbers, live chat, video conferencing support, and also email support.
The company has three types of MultiBank FX Trading Account for all the customers and in this article, we would be discussing each type.
MultiBank FX Trading Account and Benefits
So now we would be discussing the various MultiBank FX Online Trading account types provided by the broker.
Trading and investing are done to gain from the market. The company provides various types of assets like shares, stocks, metals, commodities, CFDs.
You can invest in these markets to gain profit. So to directly use the trading instruments to trade on the various asset types a user needs to have a trading account with the broker.
With the help of this trading account, you can use the money to invest in these markets, these asset types thereby earning a better amount.
You do not need to pay any charge for opening a trading account with the company, however, there might be significant charges like commission charges, leverage charges, and minimum deposit after account opening.
The broker has developed 3 types of MultiBank FX Trading Account: ECN Pro Account, MultiBank Pro, and Maximus account.
Benefits that you would be enjoying after using MultiBank FX trading accounts are:
- ECN Trading Desk Type
- The minimum deposit amount is $0
- The maximum leverage amount that is charged is 1:500
- Access to a mini account
- Access to a premium account
- Demo account benefits
- Islamic account benefits
- Access to segregated trading accounts
- You will receive access to institutional accounts
- Exclusively suitable for beginners
- Premium features available for expert traders
- Suitable for traders who prefer daily trading
- Also suitable for traders who prefer weekly trading
- Swing trading benefits are also available
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MultiBank FX Trading Account Charges
|Trading Account Charges|
|Account Type||ECN PRO||MULTIBANK PRO||MAXIMUS|
|Commission||$3 per share||Commission-free||Commission-free|
The broker provides access to multiple MultiBank FX Online Trading accounts that are different from one another.
Whenever you opt for the registration process you will have the option to select the preferred trading account.
Before using the trading accounts, you must know the various trading charges associated with the different accounts.
The various account charges include initial deposit amount, leverage charge, spreadsheet, and commission charge which differs from one account to another.
Some other factors that you must keep in mind before selecting the trading account are the asset class, the instrument that you want, the experience that you have in the market, and your investment amount.
The trading account charges have been mentioned below:
- The minimum investment amount is $50 which is suitable for all beginners.
- The spread charges start from 0 pips to 1.4 pips
- For most of the trading accounts, the company does not charge any commission however for the ECN pro account the commission charge is about $3 per share
- The leverage amount is 1:500
- That is no internal deposit or withdrawal fee, that is, you do not need to pay any extra amount for deposits or withdrawing your profits.
Types of MultiBank FX Trading Account
|Types of Trading Account|
|Trading Desk Type||ECN|
|Suitable for beginners||Yes|
|Suitable for professionals||Yes|
|Suitable for scalping||No|
|Suitable for daily trading||Yes|
|Suitable for Weekly trading||Yes|
|Suitable for swing trading||Yes|
Once you decide to open a MultiBank FX Trading Account with the company you can apply for the registration process.
At the time of registration, you have the freedom to select the best trading account that is suitable according to your needs.
Each of the trading accounts has its benefits and drawbacks and these have been carefully planned based on the experience level in the market.
So, if you are new in the market and have less knowledge about trading and the various assets you must opt for the Maximus Account.
With experience, you can upgrade to higher and better accounts. With the increase in deposit amount, a new range of asset classes will be opened, and you can earn a better profit.
Now let’s talk about the various types of trading accounts that MultiBank FX provides.
ECN Pro Account
- The initial deposit on minimum deposit amount is $5,000
- The spread charges are as low as 0 pips
- Commission charges are about 3$ per share traded
- Leverage is about 1:500
- The account is available through the MetaTrader 4 platform
- ECN desk type is available
- Exclusively built for the professional traders who want to earn better profit from the market
MultiBank FX Pro Account
- The initial deposit or the minimum deposit amount is $1,000
- The spread charges start from 0.8 pips
- Leverage charged is 1:500
- No commission is charged by the company for trading via the account
- You can trade in various types of assets with this account
- Suitable both for professionals and beginner traders who are ready to take some risk.
Maximus Trading Account
- The initial deposit amount is as low as $50
- Spread chargers start from 1.4 pip
- Whenever you are trading with this account, there is no extra trading fee or commission charges
- Some of the specific asset classes like Forex, CFD, and metals are available through this account
- Suitable for beginners as the investment amount is low.
- STP is controlled and is available through the MetaTrader for trading platform
The demo account provided by the company is like a virtual space where the users can practice trading without any kind of risk.
You will have access to a certain number of virtual currencies that can be used in the simulation environment to trade in the assets provided by the company.
You will have the option to copy trading schemes from various professional traders and you can also develop your skills.
The demo account is one of the best ways to learn about the market, trading conditions, trading accounts, trading instruments, and various other stuff.
Whenever you are trading with the broker you also have the option to opt for an Islamic swap-free trading account.
This account is exclusively available for the traders who follow Islamic religion and strictly abide by Sharia law.
The exclusive benefit of this account is that you don’t have to pay any overnight fee or swap fee or commission as it is against the community principles.
To avail of Islamic account features, you need to provide an authorized identity card to prove your religion.
MultiBank FX Account Opening and Trading Process
All the important features of the various trading accounts have been mentioned in this article.
Now we would be discussing the account opening process and the entire trading process. Carefully go through the entire steps.
- Visit the official website of MultiBank FX and navigate to the account opening tab.
- Now you will be taken to the registration page where you have to fill out all the correct details. upOn this registration page, you will also have the option to select the trading account.
- Now you need to complete the KYC verification where your identity would be verified.
- Upon verification, your account will be initiated and the login credentials would be available at your email address.
- You can use various trading software like trading platforms and mobile applications to log into your account.
- The broker provides various types of payment methods like cards, e-wallets, net banking, and some other methods. The payment methods would depend on the area of your residence.
- You can add funds to your account via this payment procedure and now you can start trading from your MultiBank FX trading account.
- You can use the demo account to develop strategies and get to learn more about the market.
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MultiBank FX Trading Account – Features
|Social Trading / Copy Trading||Yes|
|Guaranteed Stop Loss||No|
|Guaranteed Limit Orders||Yes|
|Guaranteed Fills / Liquidity||Yes|
|Trading From Chart||Yes|
|Interest On Margin||No|
|Other Trading Features||No|
The features that the traders will enjoy while trading with the broker is:
- Expert advisors available for automated trading
- One-click trading subscription for all the accounts
- Promotional benefits and access to various discounts and offers
- Directly trade from the chart
- You will have access to VPS services
- You will also have access to API trading
- Automated trading is available free of cost for specific accounts
- Guaranteed limit order process
- Guaranteed fills and access to liquidity funds
- Access to email alerts and notifications
- Social trading and copy trading features
- Educational services like ebooks, brochures, and video lessons
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MultiBank FX Trading Account – Conclusion
MultiBank FX is a popular CFD and forex broker that is established in California.
The broker is quite popular globally among the various types of traders.
You will also have access to MetaTrader 4, MetaTrader 5, and various other trading applications for faster and Secure Trading.
You can be at ease whenever you are trading with the broker as it is regulated and monitored by 15 governing bodies out of which six are well-regulated entities.
- Australian Securities and investment commission
- German federal financial supervisory authority
- Financial market supervision
- National Securities Market Commission
- Device financial services authority
Financial services commission You can go through the entire article to read about the various MultiBank FX trading accounts and then select the one which best suits your needs.
MultiBank FX Online Trading – FAQs
Here is the list of FAQs related to the MultiBank FX online trading:
Does MultiBank FX provide Online Trading?
The company was established in 2005 in California and from that time they have started providing online trading services for all its customers.
With increased experience, the quality of the trading services has improved and the company provides advanced trading features.
What are the Commission Charges in MultiBank FX?
The amount that the company charges for using the various trading features and instruments provided by the company are the commission charges.
The commission charges vary on the instrument and the trading account that you are using.
For most of the trading accounts the company does not charge any amount however for the ECN account the commission charges $3 per share traded.
Does MultiBank FX provide Demo account Trading?
Demo account access is also provided for all the traders.
This demo account or virtual account is a simulation where the users get to know about the trading process, the market, and the various types of assets provided by the company.
You can use a demo account to develop skills before investing in real life.
Is trading Free at MultiBank FX?
There are some charges associated with traditional, whenever you are using the trading instruments developed by MultiBank FX.
For more details on the fee, you can visit the official website and download the fee structure.
Does MultiBank FX provide Spot Metals Trading?
Along with trading in various asset classes, the company also provides trading facilities with spot metals.
All the trading accounts have access to spot metal trading and the metals include gold, platinum, and silver.
What are Spot Metals Trading Charges at MultiBank FX?
No extra charges are required for sport metal trading and the trading capabilities depend on the account that you are using.
Does MultiBank FX provide Stock Trading?
Yes, with the trading accounts provided by the broker you are also allowed to trade in stocks. For more details, you can contact the authority.
What is Spread at MultiBank FX?
The spread amount is variable and it depends on the instrument and your trading account type. The spread charges start from 0 pips to 1.4pips.
Is MultiBank FX safe for trading?
MultiBank FX is regulated by some of the top-tier governing bodies that control most of the trading companies in the world.
The company also promises negative balance protection and client account segregation.
Does MultiBank FX provide Trading Tips?
Yes, along with some explicit features like trading from charts, automated trading, and trading discounts, the company also provides tips for all beginners.
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