MultiBank Exchange Group is one of the famous forex brokers that is nowadays located in Hong Kong. Basically, a forex broker’s task is to provide access to the traders to sell and buy currencies of different countries. You can also call a forex broker, a retail forex broker, or a currency trader. It helps the traders to get access to the currency trading 24 hours a day. These forex brokers also serve as an investment bank for larger companies
Types Of Accounts And Their Features
There are different accounts offered by MultiBank. There is a demo account, Islamic account, live account, and multi-account managers (MAM).
The Live Account can provide the following advantages:
- Very fast and simple account opening procedure.
- The customer will receive the tightest spreads from an award-winning platform.
- There is a requirement of a minimum of $50 to open a live account.
- A lot of amazing bonuses on account opening.
- Protection of any kind of negative balance.
- 500:1 is the ratio of obtained leverage.
The Islamic Account additionally offers:
- There are no swap charges or interest charges on overnight positions.
- There is no condition on the time limit of positions held.
The Demo Account has the following benefits:
- The account will be opened in three simple and easy steps.
- The feature of practice trading for free is available, and it contains zero risks.
- Another amazing thing about a demo account is that you will receive an opening balance of $50,000 virtual money.
- Performing trade on real market conditions.
- Trading can be done on mobile, laptop, or even PC.
Multi-Account Managers Account
The greatest and the most famous account provided by MultiBank is the “Multi-Account Managers (MAM)”. This account provides users with a user-friendly interface for trading and manages their assets. It also lets you manage a lot of accounts simultaneously along with a flexible platform and a huge range of technologies.
The MAM benefits include:
- MultiBank permits Expert Advisor trading with managed accounts.
- Another benefit of MAM accounts is that you will get an overview of balances, margin levels, and open trades for several accounts.
- Regular management and trading over MAM (multiple accounts).
- MAM is known for providing multiple accounts. Therefore, the user can get access to unlimited trading accounts.
- MAM also contains a market watch window.
- STP option is available on the master account that makes bulk order execution easy and also provides immediate allocation to sub-accounts.
- The feature of live order management supervision within MAM.
- It permits trade station signals that can be traded on the MT4 platform.
- “Group Order” implementation can be done from the main control screen.
- Lastly, orders can be partially closed by the master account execution.
Risks About MultiBank
CFD charges and inactivity charges of the accounts are very high, and it can be a negative thing about MultiBank.
After knowing about the popular types of MultiBank accounts, you make your decision about MultiBank very easily and choose one account for investing your money. Nevertheless, the majority of forex trading experts give the MultiBank reviews, which reveal thatthis broker should not be trusted because of negative customer reviews.