MultiBank Exchange Group Minimum Deposit

 

A MultiBank Exchange Group Minimum Deposit review

 

MultiBank Exchange Group Minimum Deposit

 

The MultiBank Exchange Group minimum deposit amount that MultiBank Exchange Group requires is $50.

The minimum deposit amount of $100 when registering a live account is equivalent to ZAR884.54 at the current exchange rate between US Dollar and South African Rand on the day that this article was written.

MultiBank Exchange Group has headquarters based in Australia, the United States, and Germany and it is authorized and regulated by some of the strictest and most demanding regulating entities namely ASIC, BaFIN, FSC BV, CIMA, and RAK UAE.

As a regulated broker, one of the requirements is that client funds be kept in segregated accounts.

In complying with this, amidst several other strict rules and regulations, all client funds must be kept separate from the broker account, and it can only be used by traders to conduct trading activities.

In addition to ensuring client fund security through segregated accounts, regulated brokers such as MultiBank Exchange Group are required to be a member of a compensation scheme or fund which pays out a certain amount to eligible clients in the case of company insolvency.

 

Deposit fees and deposit methods

 

MultiBank Exchange Group does not charge any fees when deposits are made into the trader’s account.

Depending on the trader’s country of residence, traders need to select the correct regulatory jurisdiction before depositing funds as there are some payment methods ascribed to different jurisdictions.

 

Some of the payment methods that traders can make use of when funding the account with the minimum deposit amount include, but is not limited to:

  • Swift
  • Skrill
  • Neteller
  • Credit/Debit card (not available to RAK registered clients)
  • Perfect Money
  • Payment Asia, and more

 

MultiBank Exchange Group supports a variety of deposit currencies in which traders can fund their accounts including:

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

 

Traders should take note that each payment method has its own ascribed supported and accepted payment currencies, and traders will have to make the relevant selection according to this.

 

Step by step guide to deposit the minimum amount

 

Once the trader has completed the process of registering on the website, the trader can make the initial minimum deposit by following these steps:

  1. Log into the Client Portal and select ‘Deposit’
  2. Select the deposit method along with the amount.
  3. After the trader has made their selection, they will be redirected to the payment processor page to confirm their deposit.

 

Pros and Cons

 

PROS CONS
1.      Deposit fees and withdrawal fees are not charged 1.      None noted
2.      Quick and easy depositing of funds  
3.      Variety of payment options supported  
4.      Variety of deposit currencies supported  

 

FAQ

 

What is the minimum deposit for MultiBank Exchange Group?

$50.

 

How do I make a deposit and withdrawal with MultiBank Exchange Group?

You can make use of the following payment methods to deposit or withdraw funds:

  • Swift
  • Skrill
  • Neteller
  • Credit/Debit card (not available to RAK registered clients)
  • Perfect Money
  • Payment Asia, and more

 

Does MultiBank Exchange Group charge withdrawal fees?

No.

 

How long does it take to make a withdrawal?

  • Swift – between one to several business days.
  • Skrill – from a few hours up to one business day.
  • Neteller – from a few hours up to one business day.
  • Credit/Debit card – withdrawals can be instant but can take a business day to reflect.
  • Perfect Money – from one to a few business days.
  • Payment Asia – from one to a few business days.