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Score

0123456789
.
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/10

MultibankFX

United Kingdom|5-10 years|
Suspicious Regulatory License|Global Business|Suspicious Overrun|High potential risk|

https://www.multibankfx.com

Website

Rating Index

Influence

Influence

A

Influence index NO.1

United Arab Emirates 8.00

Surpassed 28.35% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+44 203 953 8381
cs@multibankfx.com
https://www.multibankfx.com
https://www.facebook.com/multibank.official

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

+44 203 953 8381

Indonesian

+62 02129264151

Portuguese

+351 304 500 657

Chinese (Simplified)

+400 120 8619

Broker Information

More

Check whenever you want

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Warning: Low score, please stay away! 10
Previous Detection : 2024-03-19
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of this brokers's negative field survey reviews has reached 2. Please be aware of the risk and the potential scam!
A Visit to MultibankFX in London UK - Finding No Office

A Visit to MultibankFX in London UK - Finding No Office

The investigators went to London, UK, to visit the foreign exchange dealer MultibankFX as planned. However, they did not find the dealer’s office on the publicly displayed address. The dealer may just borrow the address to register the company without real business place. Investors are advised to choose the dealer carefully.

Danger MultibankFX United Kingdom
MultibankFX’s Office in Australia Does Not Exist

MultibankFX’s Office in Australia Does Not Exist

The visit by the survey personnel confirmed that the broker MultibankFX’s real address was inconsistent with its regulatory address. Although it has an AR license issued by ASIC (reference number 843796), its ASIC MM license (reference number 416279), CNMV license (reference number unknown), Virgin Islands FSC license (reference number SIBA/L/14/1068) and BaFin license are all suspected of being c

Danger MultibankFX Australia
A Visit to MultibankFX in London UK - Finding No Office

A Visit to MultibankFX in London UK - Finding No Office

The investigators went to London, UK, to visit the foreign exchange dealer MultibankFX as planned. However, they did not find the dealer’s office on the publicly displayed address. The dealer may just borrow the address to register the company without real business place. Investors are advised to choose the dealer carefully.

Danger MultibankFX United Kingdom
MultibankFX’s Office in Australia Does Not Exist

MultibankFX’s Office in Australia Does Not Exist

The visit by the survey personnel confirmed that the broker MultibankFX’s real address was inconsistent with its regulatory address. Although it has an AR license issued by ASIC (reference number 843796), its ASIC MM license (reference number 416279), CNMV license (reference number unknown), Virgin Islands FSC license (reference number SIBA/L/14/1068) and BaFin license are all suspected of being c

Danger MultibankFX Australia

WikiFX Verification

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Total Margin Trend

  • VPS Region
  • User
  • Products
  • Closing time
  • Tokyo
  • 957***
  • GBPUSD
  • 03-06 09:30:00
  • Frankfurt
  • 679***
  • XAUUSD
  • 04-13 15:56:23
  • BeiJing
  • 257***
  • EURUSD
  • 02-02 11:21:22

Stop Out

1.03%

Stop Out Symbol Distribution

6 months

Sources

MultibankFX · Company Summary

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

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.

General Information & Regulation
General Information & Regulation
General Information & Regulation
General Information & Regulation
General Information & Regulation

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.

Field Survey

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.

Account Types

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.

User Reviews

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User comment

3

Comments

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push,
more than one year
Bad broker, purely here to scam people! Everything is fake, and the only truth is that they want your money so eagerly. Do more research before you start choose a broker.
2023-02-24 15:52
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0
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FX1127470253
more than one year
Biggest scammers imaginable. I got taken for about 1,500 dollars. They have shut down their website and no one replies to my phones and emails. BE CAREFUL.
2022-12-11 13:05
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0
0
FX1113042782
more than one year
Frustrating! This broker turned out to be a scammer. They cheated me for so long, my withdrawal hasn’t been approved until now… $2000, a big sum.
2022-12-07 13:42
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0
0
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