MultiBankFX Review

MultiBank FX is a great option for active forex traders with 55 currency pairs, spreads from 0.0 pips and high leverage up to 1:500.


1. MultiBank FX Facts & Figures

MultiBank FX is an established broker offering forex and CFD products since 2005. With 20,000+ instruments, plenty of local payment methods and 24/7 multilingual customer support, the broker is a popular choice among traders globally. New clients can also access a variety of bonus offers and access the hugely popular MT4 and MT5 trading platforms.

2. Pros and Cons

3. How To Open A Live Account

I managed to sign up for a live MultiBank FX account in around two minutes. My tip is to have a copy of your ID and proof of address to hand as you will need to submit these to complete the registration.

  • Complete the application form with your name, email, phone number, nationality, base currency, and password
  • Click ‘Send OTP‘ and add the six-digit code to the boxes
  • Create a password
  • Select the MT4 or MT5 icon to choose a trading platform
  • Select ‘Real Money Account‘ to confirm the registration

4. Deposits

I was satisfied with the number of deposit options available to UK traders, including debit/credit cards, bank wire transfer, Google Pay, Apple Pay, and cryptocurrency. The only popular solution missing is PayPal.

Importantly, I was pleased to see the broker limiting costs by supporting GBP as an account base currency, which cuts out sometimes-costly conversion fees, and by not charging any deposit fees.

For the fastest deposits, I would recommend credit/debit cards and e-money solutions, which are typically instant. In contrast, bank wire transfers can take up to three days.

How To Make A Deposit

Once you have opened a live account with the group and complied with verification requirements:

  • Login to the client dashboard
  • Select ‘Deposits’ from the left menu or click the ‘Quick Deposits’ icon from the top of the interface
  • Choose a payment method
  • Select the account to deposit to from the dropdown menu and input the amount
  • Select ‘Next
  • Follow the on-screen instructions depending on the payment method
  • Select ‘Confirm’ to proceed with the payment

5. Withdrawals

I was pleased to find that MultiBank FX does not charge any withdrawal fees, meaning traders can withdraw funds as often as required.

While it is generally standard practice today, I do appreciate the ease and speed of being able to arrange withdrawals directly through the client dashboard. Alternatively, you can email to request a withdrawal.