MultiBank Group Review Australia 2026

Is MultiBank Group safe? ASIC AFSL 416279

Yes. MEX Australia Pty Ltd, MultiBank Group’s Australian entity, holds ASIC AFSL 416279, current since 20 March 2012 on the register captured 16 July 2026, and is an AFCA member. The group’s entities outside Australia are not covered by AFSL 416279, and no register entry for any of them has been read for this review.

MultiBank Group’s ASIC licence on the register

AFSL 416279 is held with the Australian Securities and Investments Commission.

The names on MultiBank Group’s Australian record

MEX Australia Pty Ltd appears in AFCA’s Datacube, read 27 September 2026, under three other names: Ikon (Australia) Pty Ltd, Multibank Australia Pty Ltd and Multibank Fx Australia Pty Ltd. The same record lists the member as a Derivatives Dealer of Very small size. No record held for this review names the group’s founder, owner or headquarters.

MultiBank Group Trustpilot rating

How popular is MultiBank Group in Australia?

MultiBank Group is searched too rarely in Australia for month-on-month change to be meaningful: 300 branded searches in September 2026, 27th of 33. Search interest measures attention, not quality; the score above is the review verdict.

27of 33Search interest rank

300

Brand searches, September 2026

n/a below 1,000

vs August 2026

150

Login searches

0.2%

Share of all broker searches

Source: Google search volume, Australia, September 2026. How this is measured

Before depositing, confirm MultiBank Group holds AFSL 416279 using the site's guide to checking a broker on ASIC's register.

Is MultiBank Group legal in Australia?

Yes, MultiBank Group is legal in Australia, onboarding local residents through MEX Australia Pty Ltd, licensed by ASIC under AFSL 416279.

MultiBank Group client money protection and AFCA membership

MultiBank Group client money protection attaches to AFSL 416279 and MEX Australia Pty Ltd, with AFCA hearing claims up to A$1,263,000 and awarding compensation up to A$631,500. These limits apply to your account only when you hold it with MEX Australia Pty Ltd, the Australian entity behind the MultiBank Group brand.

ASIC requires negative balance protection on retail CFD accounts, so a retail account cannot lose more than the money in it. I’d treat the Compensation Scheme of Last Resort’s boundary as the real limit: it pays up to A$150,000, only for personal advice, securities dealing and credit, and forex and CFD trading sit outside it.

The licence boundary matters more here than at a single-entity broker. Those protections attach to AFSL 416279 and to MEX Australia, not to the MultiBank brand, so the group’s offshore entities sit outside them entirely. That boundary is worth checking before you assume cover. The field comparison sits in the list of the safest CFD brokers in Australia, and the mechanism in the guide to negative balance protection in Australia.

A practical licence test is simple. If you open an account under AFSL 416279, it carries the AFCA route and the client money rules, and an account opened with a group entity elsewhere carries neither. I’d insist on the first one.

MultiBank Group’s AFCA member is Mex Australia Pty Ltd, and AFCA’s Datacube, read on 27 September 2026, does not list the member for 2025-26 or 2024-25, because AFCA lists firms that received four or more complaints in a period.

• AFCA business size: Very small
• Not adjusted for client numbers
• AFCA listing threshold: Financial firms that received four or more complaints during the selected period appear in the AFCA Datacube. "Not listed" means the firm is below it.
• Middle of the field: 23 AFCA firms listed for 01/07/2025 - 30/06/2026 among the brokers this site covers, each firm counted once
• Source: AFCA Datacube, complaints by firm, read 27 September 2026

MultiBank Group at a glance

MultiBank Group opens the Classic account with no minimum deposit under ASIC AFSL 416279, current since 20 March 2012, held by the Australian entity, MEX Australia Pty Ltd.

MultiBank Group ECN and Classic spreads, May to June 2026 capture

MultiBank Group ECN averaged 0.40 pips across the eight-pair basket in our May to June 2026 capture, while the Classic account recorded 1.5 pips on EUR/USD and 1.61 pips across the same basket, a gap worth noticing before you choose an account.

The spread capture window was run by Noam Korbl through rolling 24-hour samples on IceFX SpreadMonitor from a London VPS, the same rig used across the lowest spread brokers in Australia comparison. No record shows the capture ran on an account with MEX Australia Pty Ltd, the Australian entity, which is why these are labelled capture figures rather than measured ones.

What MultiBank Group costs per trade

Standard lots per month

15102550

Monthly spread cost converts pips to dollars using the EUR/USD pip value as the proxy for the 8-pair average, footnoted on-page. AUD pip value A$14.57 per standard lot at AUD/USD 0.6865 (11 Nov 2026).

Standardspread only · 8-pair average · May to June 2026

A$234.58

At 10 standard lots per month on Standard accounts, MultiBank Group costs approximately A$234.58 in spread costs. Rates as of Wed 11 Nov 2026, 5pm New York close.

What it costs to trade with MultiBank Group

MultiBank Group publishes the ECN commission as A$7 (basis not stated by MEX Markets, 14 October 2026), and the 0.40 pip basket from our May to June 2026 capture remains the only cost figure that stands on its own, because the A$7 cannot be turned into an all-in cost without its basis.

The full cost still cannot be totalled on this page, because the A$7 ECN commission carries no stated basis, and you should confirm that basis with MEX before funding an account.

I treat the unstated basis of the A$7 ECN commission as a genuine gap rather than a formatting quibble. The commission table lists brokers publishing one flat rate with a stated basis, and this one stays out of it because MEX does not state the basis of its A$7 ECN commission, so you cannot compare total cost against the field before funding an account.

The Classic account puts the whole cost in the quote: 1.5 pips on EUR/USD in our May to June 2026 capture, with no commission.

MultiBank Group non-trading fees

• Overnight swap rates apply on positions held past 5 PM New York time, direction-dependent.
• The inactivity fee runs US$60 per year after a dormant period, reset by a single trade.
• Currency conversion applies to any instrument outside the account base currency.
• Withdrawal fees vary by method rather than running flat.

How MultiBank Group compares to Pepperstone and IC Markets

MultiBank Group averaged 0.40 pips across eight pairs on its ECN account in our May to June 2026 capture, against Pepperstone Razor at 0.46 pips in the same capture.

IC Markets averaged 0.15 pips across the same eight pairs in that same May to June 2026 capture. MultiBank Group’s ECN commission is A$7 on an unstated basis, so you are weighing its costs on spreads plus an unresolvable commission figure against both rivals.

Pepperstone brings five platforms and a published A$7.00 round-turn rate, against MultiBank Group’s A$7 ECN commission with no stated basis. IC Markets brings a much tighter basket and a deeper product range, so those are the better route when those are your priorities.

MultiBank Group account types and minimum deposit

MultiBank Group account types number two, with no minimum deposit on Classic and A$1,000 on ECN, making the Classic account the first choice if you are starting small.

The two accounts carry the same markets on two pricing models. Classic is the cheaper way in at A$0 against A$1,000 for ECN, so nothing stops you starting there, though the ECN commission’s unstated basis means you cannot compute when volume justifies the move. That is the move to make.

MAM accounts sit separate from a retail account decision. They sit alongside both for managed trading rather than forming a third retail tier, and they are covered in their own section above.

MultiBank Group minimum deposit

The Classic minimum opening deposit is A$0 and the ECN minimum deposit is A$1,000.

MultiBank Group funding methods and withdrawal times

MultiBank Group funding methods number eight, five of them at A$0, from instant card payments to bank transfer in one to two business days, a spread built for quick funding.

MultiBank Group deposit methods

Eight funding methods is a wide menu, and the Australian rails that matter are all present: PayID and BPAY both settle without a card network in the middle, and that local speed is the value here.

MultiBank Group withdrawal times and fees

Fees on withdrawals vary by method rather than running flat, worth checking against the deposit rail before you fund. Withdrawals must return by the same source as the deposit where possible, under anti-money-laundering rules, so the outbound cost depends on the method.

MultiBank Group trading platforms

MultiBank Group trading platforms number one on the Australian entity, MetaTrader 4, across three builds: desktop, mobile and the browser-based Web Terminal, a short list.

MetaTrader 4

MEX Australia Pty Ltd offers MT4 as its single platform under AFSL 416279, with desktop and mobile builds that support expert advisors. In my view, one platform is the sharpest limit on this account. MT5 sits with MultiBank entities outside AFSL 416279 rather than with MEX Australia.

MultiBank Group app

MultiBank Group publishes its own app, available on the Australian App Store. A client of the Australian entity can trade on a phone through MT4, the single platform offered under its licence.

I consider one platform the sharpest limit on this account, and the broker’s own app sits alongside MetaTrader 4 rather than replacing it. MT4 on a phone runs through the MetaTrader 4 app, published by that platform’s developer, with the client’s broker account details, and its mobile build supports expert advisors. The platform list excludes MT5, cTrader and TradingView entirely on this entity, so no third-party app fills that gap. Compare brokers in the best trading apps in Australia guide.

• App Store: Australian storefront, exact figures from Apple's iTunes Search API
• Google Play: worldwide counts, not comparable with the App Store counts
• Third-party MetaTrader, TradingView and cTrader Ltd apps not listed

MT4 Web Terminal

If you do not need expert advisors, the MT4 Web Terminal runs in the browser with nothing to install, and it suits that use case. The platform charting and order entry work as they do on the desktop build, with the automation layer absent, which is acceptable for quick access.

MultiBank Group missing platforms and features

The platform list excludes MT5, cTrader and TradingView entirely on this entity. If you want any of the three, the platform gap forces a move to a different broker, because none can be added to an account under AFSL 416279. That is a hard constraint.

MultiBank Group MAM accounts and copy trading

MultiBank Group offers MAM accounts that let one manager trade a master account, with allocations flowing through to linked client accounts on an agreed split.

No proprietary social feed exists alongside them, which suits only a trader who understands the manager relationship.

I rate the MAM structure as the substantial half of the copy offering. A managed account under it is a legal arrangement between you and the manager rather than a subscription, and the allocations settle automatically across the linked accounts.

MetaTrader Signals covers the lighter case, where a trader mirrors a provider’s trades through the standard MetaQuotes feed. That platform works the same way here as at any MT4 broker, so it differentiates nothing.

The copy trading platform gap is the absence of a proprietary social feed of the kind eToro is built around, and the copy trading comparison covers who does it properly. If you want to browse and follow individual traders, the platform carries nothing beyond the Signals marketplace, and that comparison is the right route before choosing.

MultiBank Group leverage and margin under ASIC rules

MultiBank Group leverage and margin hold at the ASIC retail caps of 30:1 on major forex pairs across both accounts, with no Australian professional tier above them, so the cap is the one you should plan around.

• No professional (wholesale) account for Australian clients
• Source: ASIC product intervention order (retail); MultiBank Group and its Australian support, read 30 September 2026 (professional)

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 extended to 23 May 2027, so they apply at every ASIC broker rather than at MultiBank Group alone, and I’d treat that as the floor and ceiling for your leverage here.

This retail margin rule requires every CFD issuer to close a retail client’s positions once account equity falls below half the total initial margin on all open positions. Positions cannot be netted against each other to cut that figure, and a gapping market can close a position below the 50% level. That rule is worth understanding before you size a position. The margin trade-off is set out in how leverage multiplies exposure and compared across the field in brokers that offer high leverage.

MultiBank Group markets and instrument counts

MultiBank Group markets and instrument counts run to four asset classes on the Australian entity: forex, gold and silver, indices and spot energy, a narrow map.

The group markets itself on a 20,000 plus instrument headline, and that number belongs to entities other than the ASIC-licensed one, so it reads as a group statistic rather than an Australian one. The class range you can trade here stops at four, and the CFD product categories comparison covers where they sit against the field.

No per-class instrument figure is published for the Australian entity, so the table above states what is tradeable rather than a number nothing supports. Share CFDs, cryptocurrency CFDs and bonds are all absent under this licence, and if your shortlist turns on any of the three, this broker is out. That is an early rule-out.

MultiBank Group gold and metals CFDs

MultiBank Group had no gold spread captured in our May to June 2026 capture, so I have no gold cost figure to give you here. Under ASIC retail rules the maximum leverage on gold is 20:1, which caps your exposure whatever account you hold. For a comparison of gold and precious metals CFDs across the brokers on this site, that guide sets out the spreads and costs side by side.

Indices and energy

The index range covers the ASX 200 plus the major global benchmarks, and no count is published for it. The energy markets carry spot oil and gas on both accounts at the ASIC 10:1 retail cap. Neither range is deep, which is consistent with the entity’s narrow overall coverage. If you want deep indices or energy, look elsewhere, and the comparison sits in the guide to the index CFD set.

MultiBank Group customer support

MultiBank Group customer support has not been tested for this review, because no account has been opened with MEX Australia Pty Ltd. No dated record of its support hours, channels or response times is held. Before you fund an account, you should confirm the support hours and channels with the desk yourself.

MultiBank Group research, tools and education

MultiBank Group publishes daily market commentary, an economic calendar, a webinar series, trading guides covering MT4 and platform basics, and Autochartist integration on selected accounts. We have not assessed the research or education live, so this section states only what the broker publishes.

Should you open a MultiBank Group account?

MultiBank Group suits a trader who wants MetaTrader 4 under an ASIC licence, on an ECN account that averaged 0.40 pips across eight pairs in our May to June 2026 capture. For most other needs, a different broker fits you better.

What the account does give you is AFSL 416279, held since 20 March 2012, with the AFCA route behind it. Before funding I would get the basis of the A$7 ECN commission in writing, whether per side, round turn or per lot, because MEX Australia does not state it.

Give a MultiBank Group account a miss if you fall into either of two groups. The range stops at four asset classes with no share CFDs, no crypto and no bonds. Our May to June 2026 capture put the Classic account at 1.5 pips on EUR/USD, and the ECN commission of A$7 has no stated basis, so you cannot compare total cost before funding.

MultiBank Group ranks sixth among the leading ASIC-regulated forex brokers on the 2026 scoring, with trust at 9.5 out of 10 its highest category and range of markets and customer service at 8.5 each. Trading costs and trading experience are its lowest categories at 7.5 each. I treat that trust score as a desk assessment of the regulator stack, because we have not yet read the BaFin licence record itself.