MultiBank Group Review Australia 2026

MultiBank Group quick facts

Trading costs and fees

ECN account for active traders

The ECN account is where MultiBank competes with the lowest-cost AU brokers. EUR/USD spreads are advertised from 0.0 pips, with a per-lot commission on top; the commission depends on account tier, so check the current MultiBank PDS for the rate before you fund. Brokers that publish one flat rate sit in our commission comparison; MultiBank does not publish one, so it stays out of that table.

MultiBank does publish average spreads per pair on its own website. Its advertised ECN averages are:

Those are MultiBank’s own advertised averages, not our measured figures.

That advertised floor is not what you should expect to pay through a full session. Across our measured 8-pair basket, MultiBank’s ECN account averaged 0.40 pips raw spread over May to June 2026 (IceFX SpreadMonitor), which placed it tenth of 16 raw accounts in our eight-pair spread test.

Standard account for casual traders

The Standard account uses a wider spread and zero commission. EUR/USD averaged 1.5 pips in our May to June 2026 testing (an average, not a from-rate). That’s wider than CMC’s Standard account EUR/USD (0.5 pips over the same window) and considerably wider than the major no-commission brokers.

Other fees AU traders should check

Overnight swap rates apply on positions held past 5 PM New York; the rate depends on the direction of your trade. The inactivity fee is USD 60 per year after a dormant period. Currency conversion applies when you trade an instrument outside your account’s base currency, and withdrawal fees vary by method.

Trading platforms

MetaTrader 4

Australian clients get MT4 only. It runs on Windows, on macOS via a wrapper, and on mobile. Expert advisors are supported. MT5 and the proprietary MultiBank Plus platform are offered by other MultiBank entities, not the ASIC-regulated Australian entity.

MT4 Web Terminal

The MT4 Web Terminal runs in the browser with nothing to install. For traders who don’t need EAs, it’s the lighter option.

Copy trading and MAM accounts

MAM accounts and MT4’s built-in Signals are available for copy and managed trading. MAM is the more substantial of the two: a manager trades one master account and the allocations flow through to the linked client accounts on the split you agree. Signals is the standard MetaQuotes subscription feed, so it works the same here as at any MT4 broker. There is no proprietary social feed of the kind eToro is built around.

Trust and safety

Trust score: 9.5/10.

ASIC regulation and global licences

MEX Australia Pty Ltd (ACN 155 084 058) holds AFSL 416279 with the Australian Securities and Investments Commission. The licence is in good standing. MEX Australia also holds an AUSTRAC digital currency exchange registration (100724469).

At the group level, MultiBank holds:

• ASIC, Australia, Tier 1
• BaFin, Germany, Tier 1
• CySEC, Cyprus (EU)
• SCA, United Arab Emirates
• MAS, Singapore
• BVI FSC, CIMA and VFSC (offshore)

Of that list, the BaFin Tier-1 licence matters most.

Client money and negative balance protection

MultiBank Group holds retail client money in segregated accounts at an Approved Australian Bank, separate from the company’s own funds. ASIC requires negative balance protection on retail CFD accounts, so a retail account cannot lose more than the money in it. If a dispute with the broker goes wrong, AFCA can hear claims up to $1,263,000 and award compensation up to $631,500. The Compensation Scheme of Last Resort sits behind that with a $150,000 cap, but it excludes CFD trading losses, so it protects you against unpaid awards for misconduct, not against losing trades.

The protections attach to the AU licence, not to the MultiBank brand: they are what MEX Australia owes you, and the group’s offshore entities are outside them. We score the field on this in our list of the safest CFD brokers in Australia, and negative balance protection in Australia explains what the retail guarantee does and does not cover.

History and ownership

MultiBank Group was founded in 2005 in California by Naser Taher and is now headquartered in Dubai.

Public reviews

MultiBank carries a Trustpilot score in the mid-to-high 4-star range globally. Australian-specific feedback is thinner than for the larger AU-focused brokers.

What other review sites say

MultiBank Group's iOS app rates 5.00 out of 5 from 4 ratings on the Australian App Store (July 2026), listed as MultiBank-Plus: Invest & Trade.

App Store AU

5.00

4 ratingsJuly 2026

Account types and minimum deposit

Account options for AU clients

MEX Australia runs two retail accounts. Standard is spread-only with no commission. ECN quotes raw spreads plus a per-lot commission and averaged 0.40 pips across our eight-pair capture. MAM sits alongside both for managed trading and is covered in the platforms section above.

Standard is the cheaper way in, so nothing stops you starting there and moving to the ECN once your volume justifies the commission. Both accounts have a free demo, and how it stacks up against the field is in our demo account comparison.

Minimum deposit

The Standard account’s minimum deposit is USD 50. The ECN account’s minimum deposit is AUD 1,000 (the MEX Australia account pages and PDS denominate it in Australian dollars, checked 17 July 2026). Starting on Standard costs less up front, and you can move across once your volume makes the commission worth paying.

Funding and withdrawals

Deposit methods (AU clients)

Withdrawals

Withdrawals must use the same source as deposits where possible.

Account opening

Account opening is online and AUSTRAC-compliant. Most AU applications are approved within 24 to 48 hours.

Product range

The Australian offering through MEX runs to four asset classes: forex major and minor pairs including AUD crosses, gold and silver, indices, and spot energy. That is a currency and metals book rather than a full multi-asset range, and it is the honest shape of what the AFSL covers. The group markets itself on a 20,000 plus instrument headline; that number belongs to entities other than the ASIC-licensed one, so treat it as a group statistic, not an AU one. For how each class works and who leads it, see our CFD product categories.

MEX does not publish a per-class instrument count for the Australian entity, so the table states what you can trade rather than a number we cannot stand behind.

Energy is the class without its own section here. Spot oil and gas are on both accounts, and ASIC caps them at 10:1 for retail clients.

Share CFDs, cryptocurrency CFDs and bonds are offered by other MultiBank entities but not through the Australian entity. If any of those decide your shortlist, this is the wrong broker.

Gold and metals

Metals are the group’s heritage and the AU entity’s real strength: gold and silver CFDs price on both accounts. We have not captured a tested gold spread for MultiBank, so the 0.40 pip ECN forex average stays the only measured cost figure on this page. ASIC’s 20:1 retail cap applies to gold. For how the AU field prices the class, see our guide to gold and precious metals CFDs.

Indices

The index list covers the ASX 200 plus the major global benchmarks. It is a short list, consistent with the AU entity’s narrow overall range, and MEX publishes no count for it. Our comparison of the index CFD set at each AU broker shows what a deeper list looks like.

Leverage for AU traders

MultiBank’s AU entity, MEX Australia Pty Ltd, holds the ASIC caps on both accounts: 30:1 on major forex, and there is no Australian professional tier above it. The 1:500 the group advertises is delivered by MultiBank’s offshore MEX entity, not the ASIC one, confirmed July 2026. Reaching that figure means leaving AFSL 416279, and AFCA access and ASIC’s client-money rules leave with it. None of it applies to the AU licence this review scores.

ASIC caps retail CFD leverage at 30:1 on major forex pairs, 20:1 on minor pairs, gold and major indices, 10:1 on commodities other than gold, 5:1 on share CFDs and 2:1 on crypto assets. The caps come from a product intervention order that ASIC has extended to 23 May 2027, so they apply at every ASIC broker, not just MultiBank Group.

ASIC requires every CFD issuer to close out a retail client’s positions once account equity falls below 50 percent of the total initial margin on all open positions. The rule is set by the product intervention order and applies to MultiBank Group the same way it applies to every ASIC-licensed CFD issuer. Positions cannot be netted off against each other to reduce that figure, and a gapping market can close a position below the 50 percent level.

Read how leverage multiplies exposure before you size a position, and our comparison of brokers that offer high leverage covers where those caps can be lifted and what you give up.

Customer service

Phone, live chat and email, all 24/7. Support is multilingual, which fits the group’s global client base. In our testing, live chat answered in under two minutes during peak windows.

Research and education

MultiBank’s research and education stack does the job without being a reason to open an account.

• Daily market commentary
• Economic calendar
• Webinar series
• Trading guides covering MT4 and platform basics
• Autochartist integration on selected accounts

How MultiBank Group compares to alternatives

No single broker wins on every axis. The table below points to the brokers we would pick for specific priorities; for the full field, see our best forex brokers in Australia guide.

Should you open an account with MultiBank Group?

Open a MultiBank account if MAM structures or the group’s metals heritage are the specific draw, and the ECN account’s pricing works for your pair set. Skip it for almost any generalist need: the AU entity carries no share CFDs, no crypto and no bonds, the Standard account’s 1.5 pip average is uncompetitive, and the USD 60 annual inactivity fee bites dormant accounts. Pepperstone covers the generalist case and GO Markets the mid-tier alternative. A demo runs both accounts.

Open a MultiBank Group demo → (affiliate link, see our advertiser disclosure)