MultiBank Review (2023) The Most Regulated Broker – Pros, Cons & Features

About MultiBank Group

MultiBank Group was established in the United States, California, in 2005 with headquarters in
Dubai. Since its inception, it has evolved into one of the largest online financial derivatives providers in the world. MultiBank has an extensive client base of over 1,000,000+ customers from across 100 countries. With over 25 branches around the world, a record-breaking financial balance of a daily turnover of US$12.1 billion, and a current paid-up capital of over $322 million.

MultiBank Group is comprised of several entities that are heavily regulated across 5 continents by 11 financial regulators. This ensures that our clients get full transparency and security of funds.

Safety of Funds

According to MultiBank, MEX Atlantic has taken out an insurance policy with Lloyd’s of London, the world’s leading insurance market, that protects clients’ funds for up to USD $ 1 million per account.

Clients’ funds are kept in segregated client accounts, which means separate client accounts without merging client and company investments, giving clients ultimate investment safety.

MultiBank Group 2023 Awards

In 2023, MultiBank Group was recognized by the global financial industry for its efforts in providing premium-level service as a broker. MultiBank Group has won a variety of awards such as

• Best Global Financial Broker 2023 by Forex Traders Summit Dubai
• Best Gold Broker 2023 by FX Empire
• Chairman of the Year 2023 by Le Fonti Awards Dubai
• Leading Financial Derivatives Institution 2023 by Le Fonti Awards Dubai
• Best Forex Broker 2023 by Fintech & Crypto Summit Bahraina
• The Most Trusted Broker in the Middle East 2023 by Ultimate Fintech

Regulations

MEX AUSTRALIA (MEX EXCHANGE)

MEX Australia Pty Ltd (MEX Exchange) is authorized and regulated by the Australian Securities & Investments Commission (“ASIC”) with AFSL number 416279. MEX Exchange is a registered business name of MEX Australia Pty Ltd.

MEX DIGITAL PTY LTD (AUSTRALIA)

MEX Digital Pty Ltd is licensed by ASIC as a Corporate Authorised Representative (AFS Representative Number 001285048) of Mex Australia Pty Ltd (AFSL 416279) and is registered as a Digital Currency Exchange with AUSTRAC with Registration No.

MEX ASSET MANAGEMENT GMBH

MEX Asset Management GmbH is authorized and regulated by the German Federal Financial Supervisory Authority (“BaFin”) with license number HRB 73406.
Please click on the following link for a list of regulated activities performed by MEX Asset Management GmbH

MEX ATLANTIC CORPORATION

MEX Atlantic Corporation is authorized and regulated by the Cayman Islands Monetary Authority (“CIMA”) with license number 1811316.

MEX EUROPE LTD

Mex Europe LTD is authorized and regulated by the Cyprus Securities and Exchange Commission (“CySEC”) with License Number 430/23.

MEX GLOBAL FINANCIAL SERVICES LLC

MEX Global Financial Services LLC of the UAE is regulated by the Securities and Commodities Authority of the UAE, as a Category 1 Trading Broker for Over-the-Counter Derivatives Contracts and Foreign Exchange Spot Markets, under ESCA license number 20200000045.

MULTIBANK FX INTERNATIONAL

Multibank FX International Corporation is authorized and regulated by the Financial Services Commission of the British Virgin Islands (“FSC”) with license number SIBA/L/14/1068.

MEX AUSTRIA

MEX Asset Management GmbH-Austria branch is authorized and regulated by the Financial Markets Authority (“FMA”) with license number 491129z.
Please click on the following link for a list of regulated activities performed by MEX Asset Management GmbH

MEX GLOBAL MARKETS PTE. LTD

MEX Global Markets PTE. LTD. is authorized and regulated by the Monetary Authority of Singapore (“MAS”) with license number CMS101174.

IKON FINANCIAL SERVICES CORPORATION LTD

Ikon Financial Services Corporation Ltd is regulated by the Tianjin Financial Government (“TFG”) under the registration number 120000400121019.

MEX PACIFIC

MEX Pacific (V) Ltd is authorized and regulated by the Vanuatu Financial Services Commission (“VFSC”) with license number 700443.

MultiBank Features

MultiBank Account Type

MultiBank Application Form

MultiBank Pros & Cons

MultiBank YouTube Channel

Conclusion

MultiBank Group’s is the only broker that holds multiple regulatory licenses, including Tier-1 licenses in Singapore and Australia. This broker also holds a cryptocurrency exchange license in Australia.

MultiBank website has limited information due to the lack of an FAQ section. The ECN account is too pricey compared to the industry standard. Educational materials are limited and not detailed, although the broker is making efforts on this by regularly posting analyses on its YouTube channels.

It is also worth mentioning that, there is an inactive fee, which is charged after 13 months of inactivity. On the bright side of this, there is a 20% promotional deposit bonus. If you deposit $10,000 into your trading account, you will receive a $2,000 promotional deposit bonus. This promotion is only available on the Pro and Standard Accounts, and not on its ECN Account.

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