The MultiBank minimum deposit requirement for the Standard account is $50, for the Pro account $1,000, and for the ECN account $10,000.
The MultiBank Minimum Deposit Overview
MinimumDeposit | MultiBank | Axi | InstaForex | Tickmill | Admirals |
|---|---|---|---|---|---|
Commission-Free | $50 | $0 | $1 | $100 | $100 |
Commission-Based | N/A | $0 | $1 | $100 | $100 |
The Pros & Cons of the MultiBank Minimum Deposit
Traders should evaluate the pros and cons of the MultiBank minimum deposit.
The pros of the MultiBank minimum deposits are:
- MultiBank is a broker-bank with $322M+ in paid-up capital
- 11+ regulators globally
- Segregation of client deposits
- Founded in 2005
- No internal deposit fees
- Instant processing times
- Choice of payment processors, including cryptocurrencies
The cons of the MultiBank minimum deposits are:
- No transparent deposit process
- No information on currency conversion fees
How to Make a Deposit
The MultiBank minimum deposit is $50, but realistically it is insufficient to trade effectively, and traders should consider depositing more. The Pro account requires $1,000, and the ECN alternative $10,000.
Here is how to deposit with MultiBank:
- Log into your MyMultiBank account area with your username and password
- Click “Funds” in the left-hand menu.
- Click “Deposits”
- Choose the preferred payment processor
- Select your trading account
- Enter your desired deposit amount
- Click “Next”
- Follow the on-screen instructions
MultiBank Deposit Fees and Deposit Methods
MultiBank does not charge internal deposit fees.
MultiBank deposit methods, internal processing times, and known transaction limitations:
Deposit Method | Processing Time | Deposit Currencies | Minimum Single Deposit | Maximum Single Deposit | |
|---|---|---|---|---|---|
Bank wires, including localized options for core markets | Up to five days | USD, GBP, EUR, CHF, AUD, NZD, CAD | $50 | Unlimited | Yes |
Credit/debit cards | Up to five days | USD, GBP, EUR, CHF, AUD, NZD, CAD | $50 | Undisclosed | Yes |
Cryptocurrencies | Instant | BTC, USDT ERC20, USDT TRC20 | $50 | Undisclosed | Yes |
Neteller | Instant | Undisclosed | $50 | Undisclosed | Yes |
Skrill | Instant | Undisclosed | $50 | Undisclosed | Yes |
Pagsmile | Instant | Undisclosed | $50 | Undisclosed | Yes |
Myfatoorah | Instant | Undisclosed | $50 | Undisclosed | Yes |
PlusWallets | Instant | Undisclosed | $50 | Undisclosed | Yes |
Thai QR Payment | Instant | Undisclosed | $50 | Undisclosed | Yes |
PayTrust | Instant | Undisclosed | $50 | Undisclosed | Yes |
Pay Retailers | Instant | Undisclosed | $50 | Undisclosed | Yes |
KoraPay | Instant | Undisclosed | $50 | Undisclosed | Yes |
PaymentAsia | Instant | Undisclosed | $50 | Undisclosed | Yes |
Boleto | Instant | Undisclosed | $50 | Undisclosed | Yes |
PIX | Instant | Undisclosed | $50 | Undisclosed | Yes |
SPE | Instant | Undisclosed | $50 | Undisclosed | Yes |
Praxis | Instant | Undisclosed | $50 | Undisclosed | Yes |
GCash | Instant | Undisclosed | $50 | Undisclosed | Yes |
Dragonpay | Instant | Undisclosed | $50 | Undisclosed | Yes |
GlobePay | Instant | Undisclosed | $50 | Undisclosed | Yes |
Noteworthy:
- The MultiBank deposit screen lists all available payment methods, as geographic restrictions apply.
MultiBank deposit methods vs. similar brokers
DepositMethods | MultiBank | Axi | InstaForex | Tickmill | Admirals |
|---|---|---|---|---|---|
Bank wires | Yes | Yes | Yes | Yes | Yes |
Credit/debitcards | Yes | Yes | Yes | Yes | Yes |
Skrill | Yes | Yes | Yes | Yes | Yes |
WebMoney | No | No | Yes | Yes | No |
ChinaUnionPay | No | Yes | No | Yes | No |
PerfectMoney | No | No | Yes | No | No |
Othere-wallets | Yes | Yes | Yes | Yes | Yes |
LocalizedMethods | Yes | Yes | Yes | No | No |
Crypto-currencies | Yes | Yes | Yes | No | No |
MultiBank Deposit Currencies
Traders must differentiate between account ‘base’ currency and deposit currencies to avoid confusion and potential conversion fees. The former is the currency used as the value of a trading account, and the latter are currencies available for deposits through payment processors. MultiBank fails to disclose potential internal currency conversion fees.
MultiBank supports the following account base currencies:
- US Dollar
- British Pound
- Euro
- Swiss Franc
- Australian Dollar
- New Zealand Dollar
- Canadian Dollar
MultiBank supports the following deposit currencies:
- MultiBank does not provide a list of supported deposit currencies
- As a bank, it is likely to accept all major fiat currencies
- Payment processors determine available deposit currencies
MultiBank trading account currencies vs. similar brokers
AccountCurrencies | MultiBank | Axi | InstaForex | Tickmill | Admirals |
|---|---|---|---|---|---|
US Dollar | Yes | Yes | Yes | Yes | Yes |
Euro | Yes | Yes | Yes | Yes | Yes |
British Pound | Yes | Yes | No | Yes | Yes |
Swiss Franc | Yes | Yes | No | No | Yes |
AustralianDollar | Yes | Yes | No | No | No |
Others | Yes | Yes | Yes | No | Yes |
Total | 7 | 10 | 3 | 3 | 10 |
Steps for Sending the MultiBank Minimum Deposit
The secure MyMultiBank account area manages the MultiBank minimum deposit, which functions in a similar way to other online banking systems.
Here is a step-by-step guide to sending your MultiBank minimum deposit:
- Log into the MyMultiBank account area, click “Funds,” and then “Deposits.”
- Choose your desired payment processor and trading account, enter your deposit amount, click “Next,” and follow the on-screen instructions.
- MultiBank notifies clients once it credits the deposit amount to the trading account.
MultiBank Minimum Deposit Bottom Line
The MultiBank minimum deposit is $50 for the Standard account, but traders should consider $1,000 for Pro or $10,000 for ECN, as trading fees are notably lower. Only verified accounts can make the MultiBank minimum deposit, and the name on the payment processor must match that of the MultiBank account.
For further information about MultiBank, you may read our MultiBank broker review. The maximum MultiBank leverage is 1:500. Yes, MultiBank operates under the oversight of 11+ global regulators. MultiBank does not charge withdrawal fees, but traders may face third-party processing costs or currency conversion fees. Traders must open a MultiBank account before making the MultiBank minimum deposit. MultiBank supports 20+ payment processors, including localized methods and cryptocurrencies. Geographic restrictions dictate availability, but the MyMultiBank account area only lists available ones relevant to the client's location. The margin requirement depends on the asset class and instrument, but the lowest is 0.002%.FAQs
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