MultGroup is a broker website suspected of fraud, registered under the domain www.multgroup.com as of May 15, 2024. The broker primarily provides investment services for markets such as forex, digital currency, metals, energy, futures commodities, and indices. It does not offer services in countries or regions where such activities may violate local laws or regulations.
Company Registration Information and Regulatory Status
According to information published on the MultGroup website, the company entity is MultGroup Limited, regulated by the Australian Securities and Investments Commission (ASIC) with license number 296805 and the Vanuatu Financial Services Commission (VFSC) with license number 700455.
The broker also claims membership in the Financial Commission. However, the documents provided on the "Terms and Conditions" page of their website are merely images and cannot be opened.
Verification shows that the ASIC website associates license number 296805 with DLS MARKETS (AUST) PTY LTD, and the VFSC website attributes license number 700455 to DLS MARKETS LIMITED. The Financial Commission does not list MultGroup Limited as a registered member, but DLS MARKETS is on the membership roster.
Therefore, it can be determined that MultGroup is a fraudulent site using the information of DLS MARKETS. It has no actual company entity or regulatory oversight.
Trading Products
MultGroup claims to offer various financial derivative trading services, including forex, digital currencies, metals, energy, futures commodities, and indices.
- Forex: The world's largest financial market, where traders earn profits by buying and selling currency pairs. The forex market is highly volatile, allowing traders to benefit from both short-term and long-term trades.
- Digital Currencies: Based on blockchain technology, such as Bitcoin (BTC) and Ethereum (ETH). The digital currency market is highly volatile, enabling investors to speculate on price movements or hold them as long-term assets.
- Metals: Includes precious metals like gold, silver, platinum, and copper. Metals are generally seen as safe-haven assets, especially during economic uncertainty. Gold and silver futures trading are common ways for investors to hedge against inflation or global economic risks.
- Energy: Primarily includes commodities like crude oil (Brent and WTI) and natural gas. The energy market is significantly affected by geopolitical events, supply and demand balance, and global economic changes. Energy futures are important trading instruments.
- Futures Commodities: Futures contracts allow traders to buy or sell commodities like agricultural products (wheat, soybeans) and industrial metals (copper, aluminum) at a predetermined price in the future. This trading method is used for hedging price volatility and speculation.
- Indices: Represent the performance of a group of stocks, typically used to track the overall health of a national or industry-specific market. Well-known indices include the S&P 500, Nasdaq, and Dow Jones Industrial Average. Index trading allows investors to invest in market trends without holding individual stocks.
Account Opening
MultGroup account opening process:
- Visit www.multgroup.com and click on "Open Account" at the top right corner to enter the registration page.
- Fill in your email address and set a login password. Receive a verification code via the email provided, and submit the form by entering the code.
- Once submitted, the account is successfully registered. After logging in, complete the full KYC verification to enable deposit and trading.
Account Types
MultGroup offers users two types of real trading accounts: STANDARD ACCOUNT and ECN ACCOUNT.
STANDARD ACCOUNT:
- Trading Platform: MultGroup
- Execution Speed: Instant
- Products: Over 250 currency pairs, indices, commodities, and stock CFDs
- Maximum Leverage: 1:500
- Spread: Starting from 1 pip
- Commission: None
- Initial Deposit: 200 USD
ECN ACCOUNT
- Trading Platform: MultGroup
- Execution Speed: Instant
- Products: Over 250 currency pairs, indices, commodities, and stock CFDs
- Maximum Leverage: 1:500
- Spread: Starting from 0 pips
- Commission: 6 USD per round-trip trade
- Initial Deposit: 200 USD
Trading Platform
MultGroup claims to offer the MT4 trading platform, but in reality, it uses a proprietary platform. The MT4 platform does not list this broker, and the mobile app download link provided does not function properly.
Deposit and Withdrawal
MultGroup supports deposits and withdrawals via credit/debit cards, e-wallets, and bank wire transfers.
Summary
Traderknows advises investors that MultGroup is a fraudulent website abusing the information of broker DLS MARKETS. It has no real company entity or regulatory oversight. Moreover, the website only supports contact through email.
Investors are advised to choose brokers with transparent information, strong regulation, and good reputation for their trading activities to avoid unnecessary financial losses.
