Company Summary
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WikiFX, as an independent third-party information service platform, is dedicated to providing users with comprehensive and objective broker regulatory information services. WikiFX does not directly engage in any forex trading activities, nor does it offer any form of trading channel recommendations or investment advice. The ratings and evaluations of brokers by WikiFX are based on publicly available objective information and take into account the regulatory policy differences of various countries and regions. Broker ratings and evaluations are the core products of WikiFX, and we firmly oppose any commercial practices that may compromise their objectivity and fairness. We welcome supervision and suggestions from users worldwide. To report any concerns, please contact us: report@wikifx.com
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MultibankFX , MONEY SQUARE Broker Comparison
Do you want to know which is the better broker between MultibankFX and MONEY SQUARE ?
In the table below, you can compare the features of MultibankFX , MONEY SQUARE side by side to determine the best fit for your needs.
- Rating
- Basic Information
- Benchmark
- Account Information
- Rating
- Basic Information
- Benchmark
- Account Information
2 brokers in total
Rating
Score
Regulatory Status
WikiFX Guarantee
WikiFX Survey
Risk Evaluation
Exposure
Official website
Basic Information
Established(years)
Regulatory license
MT4
MT5
Crypto
Deposit and withdrawal method
Benchmark
environment rating
Transaction Speed
Transaction speed rating
Average transaction speed(ms)
The highest transaction speed(ms)
The highest speed of opening positions(ms)
The highest speed of closing position(ms)
Slowest transaction speed(ms)
The lowest speed of opening positions
(ms)
The lowest speed of closing position(ms)
Trading slippage
Transaction slippage rating
Average slippage
Maximum transaction slippage
Maximum positive slippage
Maximum negative slippage
Transaction Cost
Transaction cost rating
- Average transaction cost (USD/Lot)
Rollover Cost
Rollover cost rating
- Average Rollover Cost (USD/Lot)
Disconnection results
Software disconnection rating
Average disconnection frequency (times/day)
Reconnection time(ms)
Account Information
Accounts
Account name
Products
Deposit REQ
Maximum Leverage
Spread of majors
Forced Liquidation Ratio
Spread Types
Minimum Position
Crypto
Lock postition
Scalping
EA trading
Pin on the left
1.53
Suspicious Clone
No guarantee
--
5-10 years
ASIC,DFSA,FCA,FSC,CIMA
Not supported
Supported
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Pin on the left
6.71
Regulated
No guarantee
--
10-15 years
FSA
Not supported
Not supported
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Score
Regulatory Status
Suspicious Clone
Regulated
Which broker is more reliable?
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of multibankfx, money-square lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
Forex broker introduction
multibankfx
Note: For some unknown reason, we cannot open MultibankFXs official site (https://www.multibankfx.com) while writing this introduction, therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. Traders should be careful about this issue.
General Information & Regulation
MultibankFX, a trading name of MEX Group Worldwide Limited, is allegedly a forex and CFD broker registered in the United Kingdom that claims to provide its clients with over 1,000+ tradable financial instruments with leverage capped at 1:500 and variable spreads from 0.0 pips on the leading MetaTrader4 and MetaTrader5 trading platforms, as well as a choice of three different live account types.
As for regulation, it has been verified that MultibankFX has four different licenses, but they are all suspicious clone, that is why its regulatory status on WikiFX is listed as “Suspected Fake Clone” and it receives a relatively low score of 1.42/10. Please be aware of the risk.
Field Survey
The investigators went to London, UK, to visit the foreign exchange dealer MultibankFX as planned. However, they did not find the dealers office at the publicly displayed address. The dealer may just borrow the address to register the company without a real business place. Investors are advised to choose the dealer carefully.
Market Instruments
MultibankFX advertises that it offers access to more than 1,000 trading instruments in financial markets, including forex pairs and CFDs on indices, commodities, precious metals and shares.
Account Types
MultibankFX claims to offer three types of trading accounts, namely Maximus, MultiBank Pro and ECN Pro. The minimum initial deposit amount is $50 for the Maximus account, while the other two account types have much higher minimum initial capital requirements of $1,000 and $5,000 respectively.
Leverage
The leverage offered by MultibankFX is capped at 1:500, which is much higher than that provided by most brokers. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads
MultibankFX claims that different account types can enjoy quite different spreads. Specifically, the spread on the Maximus account starts from 1.4 pips, the MultiBank Pro account has spread from 0.8 pips, while only the ECN Pro account holders can enjoy raw spreads from 0.0 pips. These spreads are all below the industry average of 1.5 pips.
Trading Platform Available
Platforms available for trading at MultibankFX are said to be the industry-standard MetaTrader4 and MetaTrader5. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.
Deposit & Withdrawal
MultibankFX says to accept payments with credit cards like Visa and MasterCard, bank wire, Neteller and Skrill. The minimum initial deposit requirement is said to be only $50.
Bonuses & Fees
MultibankFX claims to offer all kinds of bonuses, covering the 100% bonus, the 20% bonus, Imperial bonus and Refer a Friend bonus. Just take the 20% bonus as an example: the minimum deposit required for it is $1,000. Clients who wish to withdraw $200 of their bonus must trade 80 lots for every $200 they wish to withdraw. Additionally, clients must complete the trading requirements within 90 days of receiving the bonus. Clients who fail to meet the deadline will only receive a percentage of the bonus.
In any case, you should be very cautious if you receive a bonus. First of all, bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Remember that brokers who are regulated and legitimate do not offer bonuses to their clients.
Also, the broker also charges an inactivity fee. If a trading account stays inactive for 3 months, a monthly fee of $60 will be charged. However, other licensed brokers give a grace period of 6 months or even 1 year.
Customer Support
MultibankFX‘s customer support can be reached by telephone: +44 203 953 8381 (English), +62 02129264151 (Indonesian), +351 304 500 657 (Portuguese), +400 120 8619 (Chinese), +49 69 257377474 (German), +1 833 291 1788 (French), +7 499 609 46 73 (Russian), +34 931 220 671 (Spanish), +84 28 44581652 (Vietnamese), email: cs@multibankfx.com, cncs@multibankfx.com, cs.mys@multibankfx.com. You can also follow this broker on social media platforms such as Twitter, Facebook, Instagram, YouTube and LinkedIn. However, this broker doesn’t disclose other more direct contact information like the company address that most brokers offer.
Risk Warning
Online trading involves a significant level of risk and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
money-square
| Registered Country/Region | Japan |
| Regulation | FSA |
| Minimum Deposit | No minimum initial deposit requirement |
| Maximum Leverage | 1:25 |
| Minimum Spreads | 0.1 pips on for USD/JPY |
| Trading Platform | A Proprietary trading platform |
| Demo Account | Yes |
| Trading Assets | 15 currency pairs |
| Payment Methods | Quick deposits and Transfer Payment |
| Customer Support | Phone, Email, Online Chat |
General Information & Regulation
MONEY SQUARE, INC. was established in October 2002 as a company mainly engaged in over-the-counter foreign exchange trading. The company is authorized and regulated by the Financial Services Agency of Japan (FSA) under License No. 5010401112058. Also, MONEY SQUARE is authorized and regulated by the Securities Dealers Association of Japan under Financial Instrument Operator No. 2797 of Kanto Finance Bureau Director (Financial Instruments).
Market Instruments
Users can trade 15 currency pairs, generally 1,000 currency units at a time, except for 10,000 units for South Oran/JPY and Mexican Peso/JPY.
Spreads
MONEY SQUARE does not set transaction fees for users, but charges a certain amount of spreads, for example, from 0.1 pips for USD/JPY, 0.1 pips for GBP/JPY and 0.1 pips for NZD/JPY.
Margin & Leverage
If placing an order, individual users must guarantee at least 4% margin (25:1 leverage) on the value of each currency pair traded. However, corporate users have a slightly different margin rate, which is 0.96% for USD/JPY for example.
Open an account
MONEY SQUARE only supports online account opening, if a client needs to apply for both Forex and CFD accounts, then he/she needs to apply separately. In addition, MONEY SQUARE does not charge any account opening fees and account maintenance fees.
Trading Platform
MONEY SQUARE provides clients with access to the world financial markets through Tralipi®, a trading platform developed by the trader itself, which supports both PC and cell phones.
Deposit & Withdrawal
Users can make deposits via both quick deposit and transfer payments. MONEY SQUARE recommends the former because it is instant and free of charge, while the latter requires the client to bear the transfer fees. Note that MONEY SQUARE only accepts Japanese Yen for deposits/withdrawals.
Trading Hours
MONEY SQUARE offers forex trading hours based on the US market, including daylight saving time - Monday: 7:20am to 5:50am the next day; Tuesday to Friday: 6:20am to 5:50am the next day; winter time - Monday: 7:20am to 6:50am the next day; Tuesday to Friday: 7:20am to 6:50am the next day.
Pros & Cons
| Pros | Cons |
| FSA-regulated with long establishment | Limited currency trading |
| A series of trading tools | Conservative leverage |
| No transfer fees | Only accepting Japanese Yen for depsoits and withdrawals |
| Competitive spreads | Non-MT4/MT5 trading platform |
| No trading fees applied | |
| No account opening & maintenance fees |
Frequently Asked Questions
Does MONEY SQUARE offer leverage？
MONEY SQUARE provides leverage capped at 1:25.
What deposit and withdrawal payment does MONEY SQUARE accept ？
MONEY SQUARE support payment through quick deposit and transfer payments.
Does MONEY SQUARE offer demo accounts ？
No clear information about this part is disclosed.
Does MONEY SQUARE charge a commission？
No, MONEY SQUARE does not charge commissions, only spreads calculated.
What is trading hour set by MONEY SQUARE ？
MONEY SQUARE offers forex trading hours based on the US market, including daylight saving time - Monday: 7:20am to 5:50am the next day; Tuesday to Friday: 6:20am to 5:50am the next day; winter time - Monday: 7:20am to 6:50am the next day; Tuesday to Friday: 7:20am to 6:50am the next day.
Are the transaction costs and expenses of multibankfx, money-square lower?
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive multibankfx and money-square are, we first considered common fees for standard accounts. On multibankfx, the average spread for the EUR/USD currency pair is -- pips, while on money-square the spread is --.
Which broker between multibankfx, money-square is safer?
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
multibankfx is regulated by ASIC,DFSA,FCA,FSC,CIMA. money-square is regulated by FSA.
Which broker between multibankfx, money-square provides better trading platform?
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
multibankfx provides trading platform including -- and trading variety including --. money-square provides trading platform including -- and trading variety including --.