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Is MULTIBANK EXCHANGE GROUP (MEX) one of the best Australian Forex Brokers? We conducted an in-depth review in November 2018 to find out the answer and bring it to you!


Another complete and unbiased Review from Engine Forex

MultiBank Exchange Group was established in California, USA, in 2005. Since its launch, MultiBank has evolved into one of the largest financial institutions in the world. It is headquartered in Los Angeles and has multiple subsidiaries, one of which is located in Sydney, Australia.  

MEX Group is globally regulated by the Australian Securities and Investment Commission (ASIC) of Australia, the Federal Financial Supervisory Authority (‘BaFin’) of Germany, the Financial Services Commission (FSC) of the BVI, the Cayman Islands Monetary Authority (CIMA), and the Financial Conduct Authority (FCA) of the UK.

MEX Group has clients from over 90 countries throughout the world and an active client base of around 300,00 traders. They provide a true ECN environment with excellent execution speeds. 


MEX Group

Our Rating

The overall rating is based on review by our experts

8.2 4.1 1
  • Reliability 8 / 10
  • Spread 9 / 10
  • Customer Service 8 / 10
  • Offers 7 / 10
  • Speed of Execution 9 / 10
  • Uptime 8 / 10

This post is also available in: deDeutsch

MEX Group - Overview

Trading Conditions

  • Max Leverage
    500:1
  • Platform
    MetaTrader4 MetaTrader5
  • Min Deposit
    $50
  • Spread
    From 0.1 Pips
  • Cuts out Dealing Desk
    Yes

Methods of deposit and offers

  • Deposit / Withdraw
    VISA Mastercard Skrill Neteller fasaPay China Union Pay Wire Transfer Bank Transfer
  • Welcome offer
    100% up to $50,000 bonus
  • Rebates Engine Forex
    Coming soon!

Extras

  • Crypto
    Bitcoin Ethereum Ripple Litecoin Bitcoin-cash
  • Headquarter
    Los Angeles with Sydney subsidiary

SECURITY, MARGINS AND TECHNOLOGY

SECURITY AT MEX GROUP

In Summary


  • ASIC, FCA, BaFin, FSC & CIMA licensed
  • True ECN broker
  • No dealing-desk intervention
  • Segregated trust accounts

With a strong global presence, MultiBank Exchange Group takes safety and security extremely seriously.

All clients’ funds are kept separate from the company’s and are securely stored in segregated trust accounts. Multibank also guarantees that client funds are never used for operational or investment purposes.

All of MEX Group’s companies are authorised by multiple authorities worldwide. They are licensed and regulated by the Australian Securities and Investment Commission (ASIC), the Federal Financial Supervisory Authority (‘BaFin’), the Financial Services Commission (FSC), the Cayman Islands Monetary Authority (CIMA) and the Financial Conduct Authority (FCA).

Spreads Comparison

MEX Group
90
PEPPERSTONE
100
THINK MARKETS
80
OANDA
60
IC MARKETS
100
AXITRADER
90

CHARGES AND MARGINS AT MEX GROUP

In Summary

  • Spread mark-up or
  • Commissions per standard lot round-turn
  • Up to 500:1 leverage
  • $50 minimum deposit requirement

MEX Group offers clients a choice of five unique trading account types that have different advantages and features. Clients can select from ECN Pro MT4, Multibank Pro MT4, Maximus MT4, MT5 Standard and MT5 Pro.

The minimum deposit requirement is $50, and customers can choose between AUD, USD, EUR, GBP and JPY as account base currencies.

All account types feature more than 55 currency pairs, 2 metals, over 1,000 shares, six global indices, over 100 commodities and 5 of the top cryptocurrencies. 

The maximum leverage can be set as high as 500:1 for all account types.

MEX Group doesn’t charge commissions on most of its platform/account types with the exception of the ECN Pro account, which offers the lowest spreads and a true ECN trading environment. A very low commission of $3 per lot round-turn applies to this account.

Spreads start from 0.1 Pips.

TECHNOLOGY

In Summary

  • Reliable trade execution
  • True ECN broker
  • MT4
  • MT5

Clients of the MEX Group can choose between two very popular platforms and five account types.

These trading platforms are the widely used and popular MT4 and MT5.

All financial instruments can be traded with all platform and account types.

A free VPS service is offered to all clients without any minimum trading or account usage conditions. This is excellent news for all types of traders, as most brokers usually require traders to meet a stringent set of criteria before a free VPS is offered. The service can be run on all conventional operating systems such as Windows XP, Vista, 7, Mac and Linux.

MAM and PAMM solutions are also available to all professional traders and asset managers.

Overall, MEX Group’s trading environment is fast and secure and all platforms are easy to use.

Execution of Speed Comparison

MEX GROUP
80
PEPPERSTONE
100
THINK MARKETS
90
OANDA
80
IC MARKETS
100
AXITRADER
90

CUSTOMER SERVICE, TRADING OPTIONS AND SPECIAL FEATURES

AN OVERVIEW OF MEX GROUP's CUSTOMER SERVICE AND CLIENTS

In Summary

  • 24/7 customer support
  • Global presence
  • 5 account types to choose from
  • 500:1 max leverage

With numerous subsidiaries around the globe, MultiBank Group’s customer service team can be contacted 24/7 via live chat, telephone or email.

At the time of writing this review, close to 300,000 clients in over 90 countries worldwide use MEX Group's services.  

Clients can choose between five unique trading account types, all of which offer different advantages and tools. All account types feature more than 55 currency pairs, 2 metals, over 1,000 shares, six global indices, over 100 commodities and 5 of the top cryptocurrencies.  The maximum leverage can be set as high as 500:1 for all account types.

MultiBank Group has further structured an account for any client who wishes to waive all SWAP charges/credits in their account. Clients can never hold both a swap-free and swap (standard) account at the same time.

Deposit and withdrawal options include Wire transfers, Neteller, Skrill, China Union Pay and FasaPay. The minimum deposit requirement is $50.  

FOREX AND OTHER TRADING OPTIONS AT MEX GROUP

In Summary

  • 55+ currency pairs & 5 cryptos
  • 2 metals
  • 100+ commodities
  • Indices & 1,000+ shares CFDs

All account types feature more than 55 currency pairs, 2 metals, over 1,000 shares, six global indices, over 100 commodities and 5 of the top cryptocurrencies. 

Traders can choose to trade the above-mentioned options on some of the world's top markets including the Australian S&P 200 Index, UK FTSE 100 Index, US E-mini S&P 500, Germany’s DAX 30, Japan's Nikkei 225 and Hong Kong’s Hang Seng 50.

MultiBank Group offers leverage of up to 500:1, five different funding currencies, micro-lot trading starting from 0.01 lots and ultra-low spreads of 0.1 Pips (with most of their account types).

MEX Group doesn't charge commission on the majority of their platform/account types accept their ECN Pro MT4 account, which offers the lowest spreads and a true ECN trading environment. With this account type, a very competitive commission of $3 per lot round-turn applies. 

SPECIAL FEATURES OF MEX GROUP

In Summary

  • True ECN broker
  • MT4 & 5 trading platforms
  • Tight spreads & leverage up to 500:1
  • Free VPS option for all clients

MultiBank Group offers ultra-low spreads from 0.1 pips and high leverage of up to 500:1.

5 account type options.

Most trading types, such as Expert Advisors (EAs), scalping and hedging are allowed.

Metatrader 4 and 5 are available as trading platforms.

Excellent trading environment and choice of technical analysis tools & features.

MAM and PAMM accounts available.

SWAP free accounts available.

A free VPS service is offered to all clients without any minimum trading or account usage conditions.

Max Leverage Comparison

MEX GROUP
500:1
PEPPERSTONE
500:1
THINK MARKETS
400:1
OANDA
100:1
IC MARKETS
500:1
AXITRADER
400:1

IN CONCLUSION

MEX Group is one of the world's leading online Forex brokers with a global presence. This broker is licensed and regulated in many jurisdictions and offers its clients a great selection of tradable instruments within a stable and secure trading environment. Being able to choose between the world's favourite MT4 and MT5 platforms is another great advantage for the sophisticated and discerning trader. Overall, we can highly recommend MEX Group as a broker to both novice and experienced traders.