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.

Risk Warning

Online trading involves significant 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.

General Information

What is PBFX？

PBFX is a provider of online trading services focused on Forex currency pairs, stocks, commodities, oil & gas, and cryptocurrencies through MT4 platform. Pribizco currently registered with the New Zealand Financial Service Providers Register (FSPR) and the Australian Securities & Investment Commission (ASIC).

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

PBFX has several notable pros and cons. On the positive side, PBFX offers a wide range of market instruments and flexible leverage options up to 1:1000, providing traders with various trading opportunities. Additionally, they have multiple account types to suit different trading needs through the leading MT4 platform.

However, there are also some drawbacks. There is limited information on spreads and commissions, which may be a concern for some traders. Additionally, the customer service contact options are limited, and the educational resources and tools provided by PBFX are also limited.

Is PBFX Safe or Scam？

PBFX's registration with the New Zealand Financial Service Providers Register (FSPR, License N0. 551686) and the Australia Securities & Investment Commission (ASIC, License No. 269820) indicates that it holds licenses in those jurisdictions. However, it is important to note that these licenses are considered general registered licenses, which may have different regulatory requirements compared to full regulatory licenses.

While registration with these authorities demonstrates some level of compliance, it does not provide the same level of investor protection as full regulatory licenses. Traders should exercise caution and conduct further research to assess PBFX's reputation, track record, and the overall safety of their services before engaging with the platform.

Market Instruments

Pribizco offers investors a wide variety of financial trading assets, mainly Forex currency pairs, stocks, commodities, oil & gas, and cryptocurrencies. The Forex market offers traders the opportunity to participate in the global currency exchange market, allowing them to trade major, minor, and exotic currency pairs. With stocks, traders can access various company shares and participate in the equity markets. Commodities such as gold, silver, oil, and gas provide avenues for diversification and hedging strategies.

Additionally, PBFX enables traders to engage in the growing market of cryptocurrencies, which includes popular digital currencies like Bitcoin, Ethereum, and others. This diverse selection of market instruments gives traders the flexibility to explore various trading opportunities and diversify their investment portfolios.

Accounts

PBFX offers traders a choice of three live account types: Cent, Standard, and ECN. The Cent account requires a minimum deposit of $10, making it accessible to traders with smaller capital. The Standard account also has a minimum deposit of $10 and caters to the needs of traders who prefer traditional trading conditions.

On the other hand, the ECN account requires a higher minimum deposit of $1,000 and provides traders with direct access to the market through Electronic Communication Network (ECN) technology, offering enhanced liquidity and potentially lower spreads.

Additionally, PBFX provides free demo accounts with $10,000 in virtual funds, allowing traders to practice their strategies and familiarize themselves with the platform before trading with real money.

Furthermore, PBFX offers swap-free accounts for traders who adhere to Islamic principles. These account options provide flexibility and cater to the diverse needs and preferences of traders.

Leverage

PBFX offers flexible leverage of up to 1:1000 to its traders. This high leverage option allows traders to potentially amplify their trading positions and potential profits. However, it's important to note that trading with high leverage also carries increased risk, as it can amplify potential losses. Traders should exercise caution and carefully manage their risk when utilizing high leverage ratios. PBFX's flexible leverage option provides traders with the ability to choose a leverage level that aligns with their trading strategy and risk tolerance, allowing them to optimize their trading approach.

Spreads & Commissions

PBFX offers competitive spreads on its different account types. For Cent and Standard accounts, the spread is fixed at 1.7 pips, providing traders with a transparent and consistent cost for executing trades. On the other hand, ,ECN accounts have a spread of 0 pips which means traders can access raw interbank spreads and potentially benefit from tighter pricing.

However, PBFX does not provide specific information regarding commissions. Traders are advised to review the broker's terms and conditions or contact customer support to obtain more detailed information about commissions and any additional costs associated with trading on the platform.

Below is a comparison table about spreads and commissions charged by different brokers:

Please note that the information provided is based on general data and may vary depending on the specific account type and trading conditions offered by each broker. It's always recommended to refer to the official website or contact the broker directly for the most up-to-date and accurate information.

Trading Platforms

PBFX provides a range of trading platforms, primarily focusing on the popular MetaTrader4 (MT4) platform. MT4 is known for its user-friendly interface, advanced charting capabilities, and extensive range of technical indicators and analysis tools. Traders can access the MT4 platform on various devices, including Windows and Mac computers, as well as mobile devices running on iOS and Android operating systems. This allows for seamless trading and monitoring of positions on-the-go.

The availability of MT4 across multiple platforms ensures that traders have flexibility and convenience in executing their trades. With its robust features and widespread usage in the industry, MT4 offered by PBFX enables traders to make informed trading decisions and execute their strategies effectively.

See the trading platform comparison table below:

Deposits & Withdrawals

PBFX offers a variety of convenient and secure payment options for both deposits and withdrawals. Traders can fund their accounts using popular methods such as Tether, PayTrust, MTPAY, China UnionPay, and SWIFT. The broker has a low minimum deposit requirement of only $10, making it accessible for traders of different budgets.

PBFX minimum deposit vs other brokers

Moreover, PBFX does not impose any limitations on withdrawal amounts, allowing clients to withdraw their funds as needed. Both deposits and withdrawals are free of charge, eliminating any additional costs for traders.

PBFX also provides a benefit to its clients by offering 3 times free deposit and withdrawal per month, providing flexibility and cost savings. The processing time for deposits and withdrawals is relatively fast, typically taking 1-5 working days, ensuring timely access to funds for traders.

Bonuses

PBFX provides a bonus program that rewards clients based on their initial deposit amounts. Traders can receive bonus amounts depending on the deposited funds, offering an opportunity to enhance their trading capital. For example, depositing $10 will grant a $10 bonus, while depositing $20 will result in a $20 bonus. The bonus amounts increase with larger deposits, with $30 bonus for $30 deposit, $60 bonus for $50 deposit, and $90 bonus for $200 deposit.

It's important to note that the maximum deposit amount eligible for a bonus is $500, and the maximum bonus amount that can be received is $150. This bonus program allows traders to potentially boost their trading funds and take advantage of additional opportunities in the market.

Customer Service

PBFX offers a range of customer support options to assist traders in their journey. Clients can reach out to the broker through 24/5 live chat, phone, and email channels, ensuring prompt and efficient communication. The availability of multiple contact methods allows traders to choose the most convenient option for their needs.

Additionally, PBFX maintains an active presence on popular social networks like Facebook, Instagram, and YouTube, where traders can follow their updates and engage with the broker's community.

The combination of various customer support channels and social media presence demonstrates PBFX's commitment to providing reliable and accessible support to its clients, enhancing the overall trading experience.

Note: These pros and cons are subjective and may vary depending on the individual's experience with PBFX's customer service.

Conclusion

In conclusion, PBFX is a forex broker registered with the New Zealand Financial Service Providers Register (FSPR) and the Australian Securities & Investment Commission (ASIC). They offer a range of market instruments and flexible leverage options, providing trading opportunities for different types of traders.

However, the limited information available on their website, especially regarding spreads and commissions, raises some concerns. The customer service options are also limited, and the educational resources and tools provided by PBFX are not extensive. It is recommended to conduct further research and consider your specific trading needs before choosing PBFX as your forex broker.

Frequently Asked Questions (FAQs)