MultiBank Group Fx was established on June 13, 2023, but its registration location has not been disclosed. It has not been regulated by any financial authorities to date, which may pose risks. The three account types it offers seem to have not been fully disclosed, lacking transparency. Although trading software like MT4 and MT5 is provided, the descriptions of the trading products lack detail and may not be comprehensive. Spreads start from 1.5 pips, but specific details are not provided, which might imply potential hidden fees. The methods for deposits and withdrawals have not been disclosed, potentially increasing uncertainty for investors. Currently, the official website of MultiBank Group Fx is: https://multibankgroupfx.io/
Corporate Background of MultiBank Group Fx:
The corporate domain of MultiBank Group Fx was registered on June 13, 2023, however, its registration address has not been disclosed on the official website. To date, the company's establishment date and office address remain unknown.
Regulatory Information of MultiBank Group Fx:
Currently, MultiBank Group Fx is not regulated by any financial institution.
Account Registration Process of MultiBank Group Fx:
- Visit the MultiBank Group Fx official website and click on the registration button.
- Fill out the application form.
- Submit identity verification/KYC documents.
- Deposit and start trading.
Account Types at MultiBank Group Fx:
MultiBank Group Fx offers three different types of trading accounts to meet the needs of various investors:
Standard Account: A commission-free account, highly suitable for new traders beginning their investment journey. Standard accounts offer instant execution and stable spreads. The minimum initial deposit is $50. Spreads start from 1.5 pips.
Professional Account: Professional accounts are designed for traders looking to enjoy zero commission, tight spreads, and instant execution. The minimum initial deposit is $1,000. Spreads start from 0.8 pips.
ECN Account: The ECN account is most suitable for traders seeking raw spreads and instant execution. The minimum initial deposit is $5,000. Spreads start from 0.0 pips.
Trading Software of MultiBank Group Fx:
MultiBank Group Fx provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both platforms are widely popular trading systems, featuring strong functionality and flexibility to meet the requirements and preferences of various investors. The MetaTrader platforms offer a wide range of analytical tools, charts, and automated trading functions, enabling traders to efficiently implement various trading strategies.
Trading Products of MultiBank Group Fx:
MultiBank Group Fx provides a diversified range of trading products for traders, including:
- Foreign Exchange: Trade CFDs in over 55 major, minor, and exotic currency pairs.
- Precious Metals: Diversify your portfolio and uncover new trading opportunities through trading CFDs in gold, silver, and other precious metals.
- Stock CFDs: Trade stock CFDs of over 20,000 multinational companies with low margins down to 5%.
- Indices: Diversify your portfolio by trading stock index CFDs and discover new trading opportunities.
- Commodities: Trade CFDs in commodities like energy and grains to diversify your portfolio.
- Cryptocurrencies: Bitcoin, Ethereum, Ripple, and other cryptocurrencies.
What Are the Spreads at MultiBank Group Fx?
The spreads at MultiBank Group Fx vary according to the type of account:
Standard Account: Spreads start from 1.5 pips.
Professional Account: Spreads start from 0.8 pips.
ECN Account: Spreads start from 0.0 pips.
What Are the Deposit and Withdrawal Methods at MultiBank Group Fx?
The deposit and withdrawal methods for MultiBank Group Fx have not been specifically mentioned on its official website. Normally, traders may be able to use various common payment methods for deposits and withdrawals, including bank transfers, credit cards, e-wallets, etc.
Customer Support at MultiBank Group Fx:
Email: info@multibankgroupfx.io
Summary:
The lack of financial regulation may raise concerns among investors regarding MultiBank Group Fx. The company's failure to disclose its registration address and regulatory information could lead to doubts about its reliability. Despite offering a variety of account types and trading software options, the lack of transparency regarding account types, trading products, and spreads may make it difficult for investors to make informed investment decisions. Moreover, the company's nondisclosure of deposit and withdrawal methods adds to investors' uncertainty. Currently, MultiBank Group Fx is labeled as a "Suspected Fraud" on TraderKnows.
