MultiBank Exchange Group is a forex trading services broker. They give traders access to major markets like currencies, indices, commodities and shares.
To open a live account, you’ll need a minimum deposit of at least $300. Alternatively, MultiBank Exchange Group offers a demo account that you can use to practice and familiarise yourself with their platform.
Regulated by the Financial Conduct Authority, UK (FRN: 481068), and ASIC (AFSL #416279). MultiBank Exchange Group puts all client funds in a segregated bank account and uses tier-1 banks for this. MultiBank Exchange Group has been established since 2005, and have a head office in .
Before we dive into some of the more detailed aspects of MultiBank Exchange Group’s spreads, fees, platforms and trading features, you may want to open MultiBank Exchange Group’s website in a new tab by clicking the button below in order to see the latest information directly from MultiBank Exchange Group.
Full disclosure: We may receive a commission if you sign up with a broker using one of our links. Your capital is at risk. CFDs are leveraged products & 73% of traders lose money when trading CFDs.
Like most brokers, MultiBank Exchange Group takes a fee from the spread, which is the difference between the buy and sell price of an instrument.
The spreads displayed below are based on the minimum spreads listed on MultiBank Exchange Group’s website. The colour bars show how competitive MultiBank Exchange Group' spreads are in comparison to other popular brokers featured on BrokerNotes.
The average spread for EUR/USD across all brokers on BrokerNotes is 0.82 pips. See popular brokers for trading EUR/USD
The average spread for USD/JPY across all brokers on BrokerNotes is 0.91 pips. See popular brokers for trading USD/JPY
The average spread for GBP/USD across all brokers on BrokerNotes is 1.18 pips. See popular brokers for trading GBP/USD
The average spread for Bitcoin across all brokers on BrokerNotes is 41.15 pips. See popular brokers for trading Bitcoin
The average spread for gold across all brokers on BrokerNotes is 8.62 pips. See popular brokers for trading gold
The average spread for DAX30 across all brokers on BrokerNotes is 14.95 pips. See popular brokers for trading DAX30
Spreads are dynamic and are for informational purposes only. Last updated: June 06, 2018.
As you can see, MultiBank Exchange Group's
minimum spread for trading EUR/USD is 1.4 pips - which is relatively high compared to average EUR/USD spread of 0.82 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with MultiBank Exchange Group vs. similar brokers.
If you were to buy one standard lot of EUR/USD (100k units) with MultiBank Exchange Group at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $N/A. Here’s a rough breakdown of the fees and how this compares against XTB & City Index.
| MultiBank Exchange Group | XTB | City Index | |
|---|---|---|---|
| Spread from: | N/A | $ 2.00 | $ 5.00 |
| Typical overnight fee: | N/A | $ 7.94 | $ 20.60 |
| Commission: | N/A | 0 | 0 |
| Total cost of a 100k trade: | N/A | $ 9.94 | $ 25.6 |
| Visit MEX | Visit XTB | Visit City Index |
All fees/prices are for informational purposes and are subject to change. Last updated: 09/03/2018. Losses can exceed deposits
MultiBank Exchange Group offers over 161 different instruments to trade, including over 55 currency pairs. We’ve summarised all of the different types of instruments offered by MultiBank Exchange Group below, along with the instruments offered by XTB and City Index for comparison.
| FX / Currencies | MEX | XTB | City Index |
|---|---|---|---|
| # of forex pairs offered | 55 | 48 | 84 |
| Major forex pairs | Yes | Yes | Yes |
| Minor forex pairs | Yes | Yes | Yes |
| Exotic forex pairs | Yes | Yes | Yes |
| Cryptocurrencies | No | Yes | Yes |
| Commodity CFDs | MultiBank Exchange Group | XTB | City Index |
|---|---|---|---|
| # of commodities offered | 0 | 21 | 26 |
| Metals | Yes | Yes | Yes |
| Energies | Yes | Yes | Yes |
| Agricultural | Yes | Yes | Yes |
| Index & Stock CFDs | MultiBank Exchange Group | XTB | City Index |
|---|---|---|---|
| # of Stocks offered | 0 | 1606 | 4500 |
| UK Shares | Yes | Yes | Yes |
| US Shares | Yes | Yes | Yes |
| German Shares | Yes | Yes | Yes |
| Japanese Shares | No | Yes | Yes |
| See MEX's Instruments | See XTB's Instruments | See City Index's Instruments |
MultiBank Exchange Group offers the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers. MultiBank Exchange Group also offer their custom Pure ECN PRO platform.
MultiBank Exchange Group also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.
See MEX 's platforms Losses can exceed deposits
MultiBank Exchange Group allows you to execute a minimum trade of 0.01 Lot. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument.
As a market maker, MultiBank Exchange Group may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trades requirements and no commission on trades.
As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.
Finally, we’ve listed some of the popular funding methods that MultiBank Exchange Group offers its traders on the right.
MultiBank Exchange Group support a wide range of languages including English, Russian, Spanish, Arabic, Chinese, Italian, and Polish.
MultiBank Exchange Group has a BrokerNotes triple AAA support rating because they offer a wide range of languages and support options.
As MultiBank Exchange Group is regulated by Financial Conduct Authority and ASIC, every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:
You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.
While you might be able to explore MultiBank Exchange Group’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.
To start the process of opening an account with MultiBank Exchange Group you can visit their website here.
CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.mexgroup.com/ on August 23, 2018.
Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.
