MultiBank Exchange Group Demo Account

 

A MultiBank Exchange Group demo account Review

 

How to set up a MultiBank Exchange Group Demo Account – Step by Step

 

To register for, and set up a demo account with MultiBank Exchange Group, traders can follow these steps:

 

  1. Navigate to the MultiBank Exchange Group website and click on the ‘Demo Account’ banner in the top panel of the homepage.
  2. The trader will be redirected to a new page containing an online application where the trader must provide their name, mobile number, and email address. The email address provided must be verified by entering it again before clicking ‘Submit’.
  3. Once the trader has submitted their application it will be processed and the trader will receive confirmation that the demo account has been approved, and that account details will be sent to the email the trader registered.
  4. Once the trader has received the email containing the login credentials, the trader can click the link embedded in the email to download the trading platform used for the purpose of the demo account, MEX ECN Pro MetaTrader 4.
  5. Once the trader has downloaded and installed the trading platform, they can log in with the credentials that were sent via email to access their demo account.

 

Trading can be a very intimidating task for beginners without prior knowledge, skill, or experience in trading and through the provision of demo accounts, brokers provide a comprehensive and risk free environment for beginner traders.

A demo account is often referred to as a practice account due to it providing traders with the ability and freedom to explore the broker’s offering without running the risk of incurring losses through the provision of virtual money with which to practice trading.

Beginner traders can use demo accounts to familiarize themselves with a live trading environment, where they can build up their trading skills by actively participating in trades and develop their own trading strategies.

Demo accounts are not merely intended only for beginners, but it provides more advanced traders the opportunity to explore what MultiBank Exchange Group has to offer.

 

MultiBank Exchange Group Demo Account Features

 

The MultiBank Exchange Group demo account features will depend on the trading platform that the trader uses, in this case MetaTrader 4, in conjunction with the demo account.

In other words, the demo account features can be accessed through the trading platform and will depend on MultiBank Exchange Group’s offering with regards to asset classes, financial instruments, spreads, leverage, and so on.

 

To gain access to the demo account, the trader has to download the trading platform to either of the following:

  • Desktop – MS Windows, Linux, or Mac OS
  • Mobile – Android smartphone or tablet, iOS iPhone, or iPad

 

Should the trader wish to use the Web Trader for either trading platform, access will be provided from the download page for each trading platform, respectively.

As soon as the trader has downloaded their trading platform, they can use the login details provided on the account verification page to log into the trading platform and they will have access to their MultiBank Exchange Group demo account.

 

Pros and Cons

 

PROS CONS
1.      Demo account sign up fully digital 1.      None noted
2.      Sign up is quick and hassle-free  
3.      Metatrader 4 is a reliable, user-friendly trading platform  

 

FAQ

 

What is the difference between a demo and live trading account?

A demo account provides the trader with a practice account that can be used to practice trading in a risk free environment.

Demo accounts are often suited for beginners who need to build up experience with trading as well as advanced traders who would like to test their trading strategies and explore the offering of a broker before registering a live account.

 

Does MultiBank Exchange Group offer a demo account?

Yes

 

Can I convert my demo account to a live trading account with MultiBank Exchange Group?

Yes.

All that you have to do is complete additional information along with providing proof of ID and proof of residence. This can easily be done from the Client Portal/Secure Area.

 

Which live trading accounts does MultiBank Exchange Group offer?

  • Maximus – minimum deposit of $50, leverage of up to 1:500, spreads that start from 1.5 pips, zero commissions charged on trades.
  • MultiBank Pro – minimum deposit of $1,000, leverage of up to 1:500, spreads that start from 0.8 pips and zero commissions charged on trades.
  • ECN Pro Account – minimum deposit of $5,000, leverage of up to 1:500, spreads that start from 0.1 pips and zero commissions as long as the account balance is maintained at $20,000 and up, if less than $20,000, there is a commission of $3.

 

What are the available deposit currencies for a live trading account?

  • USD
  • GBP
  • EUR
  • JPY
  • CHF
  • AUD
  • NZD
  • CAD, and more.