MultiBank Group
Pros
- Regulated by 15+ authorities including ASIC, BaFin, CySEC and MAS
- Over 20,000 tradable instruments including 14,000+ share CFDs
- No deposit or withdrawal fees
- ECN account offers raw spreads from 0.0 pips
- Free demo account with virtual funds, no deposit required
- MAM and PAMM account support for professional money managers
- Excess loss insurance up to $1 million per account through Lloyd's of London
- Free VPS hosting available for qualifying accounts
Cons
- Inactivity fee of $60 per month after just 3 months of dormancy
- ECN account requires a $10,000 minimum deposit
- Standard account spreads of 1.5 pips on EURUSD are above the industry average
- No physical stocks, ETFs or bonds - instruments are CFDs only
- FCA (UK) has flagged MultiBank Group as an unauthorised firm for UK residents
- Offshore entities such as VFSC and CIMA do not offer investor compensation schemes
- Limited educational resources compared to major retail brokers