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MultiBank Group Limited -

Score

1.18 /10
Danger

MultiBank Group Limited

China

1-2 years

Suspicious Regulatory License

High potential risk

https://www.multi-bankst.com

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Comparison

Quantity 3

Exposure

Time Machine
Website

Score

Regulatory Index0.00

Business Index4.49

Risk Management Index0.00

Software Index4.00

License Index0.00

Time Machine
Website

Licenses

No valid regulatory information, please be aware of the risk

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

Single Core

1G

40G

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Broker Information

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Company Name

MultiBank Group Limited

Company Abbreviation

MultiBank Group Limited

Platform registered country and region

China

Company website

Company summary

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away! 2
Previous Detection : 2024-09-30
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

Exposure

3 pieces of exposure in total
Pyramid scheme complaint
Expose
Unable to Withdraw

Deception and scammers. DO NOT TRANSFER MONEY.

A girl meets you, her Vietnamese number is +84588726988. She meets you via telegram and says that she likes you, showing off her rich life. She says that she makes money on Forex and her uncle is rich. You enter money and then trade, because of a false signal you lose money. Then he asks to top up his account. And it helps you financially, but only after you deposit money on this exchange. I wanted to withdraw money. $36,000 was frozen due to the fact that I was supposedly laundering money. They ask to unfreeze an account of $10,000. Damn you. I ask the regulators to punish them. Especially scammers in China, in Hong Kong.

FX1956570257
2024-03-29 03:27
Unable to Withdraw

Scammers with sensors..

These people are an organized plot, for the theft of capital from people who have little knowledge of investments... through a woman named Lisa Davis, teaches and directs you to invest through crypto.com, she gives you the address and guides you. steps... to trade through Multibank Group Limited... once you want to withdraw, skip the customer service, the so-called service VIP broker which is called Anna... and between the two parties they force you to pay money to be able to withdraw, of which they always come up with some new problem so that you cannot withdraw profits... even if you pay what is requested... as soon as you try to withdraw to your wallet they block your accounts so that you cannot withdraw anything until you abandon why they try to force you to do so to keep the invested and profits with address impersonation and make withdrawal mistakes... I provide phone photos and images, don't fall for it, and report it as soon as possible.

grinwall
2024-04-10 19:03
Unable to Withdraw

I met a friend on a dating app

I met a friend on a dating app and he introduced me to investment. To third-party software SUPER AI OPTIONS 7 (google mall search) search MULTIBANK GROUP, and through this platform to do foreign exchange investment, notified by my friend to enter the market and out of the points and targets, the platform has a customer service, the deposit address for the customer service to provide, and the withdrawal of funds need to be audited. The first time out of the gold (150 U.S. dollars) normal, there are to the account, but with the continued investment in a large amount of money out of the customer service said to pay 12% of the income tax first, after paying the claim that I have a transaction suspected of money laundering risks, the need to pay again to check the gold, checking the correct will be out of the gold This is false, even the customer service provided by the photo is a cut-off, and the customer service is also very justified to say that the check to the results of the official with the Taiwan is a scam! Do not believe, do not have someone cheated!

Jeh
2024-05-02 11:41
MultiBank Group Limited · Company summary

MultiBank Group Limited Review Summary
Founded 2018
Registered Country/Region United States
Regulation No Regulation
Market Instruments Forex, Crude Oil, Precious Metals, Indices, Cryptocurrency, etc.
Demo Account Yes
Leverage N/A
Spread N/A
Commission N/A
Minimum Deposit N/A
Customer Support Email: multi@multi-banks.com

What Is MultiBank Group Limited？

MultiBank Group Limited, established in 2018, operates as a trading platform accessible via its website and mobile apps. Despite being based in the United States, the company operates without regulation.

MultiBank Group Limited's homepage

Pros & Cons

Pros Cons
  • App Supported
  • Limited Customer Support
  • Multiple Market Instruments Supported
  • No Regulation
  • Demo Account Supported

Pros of MultiBank Group Limited:

  • App Supported: MultiBank Group offers a mobile app for trading on the go, providing convenience and flexibility for traders.

  • Multiple Market Instruments Supported: They offer a wide range of tradable instruments, including forex, CFDs on stocks, indices, commodities, and more. This allows traders to diversify their portfolios and potentially capitalize on opportunities across different markets.

  • Demo Account Supported: MultiBank Group provides a demo account, which is a valuable tool for beginners to practice trading in a simulated environment with virtual funds before risking real money.

Cons of MultiBank Group Limited:

  • Limited Customer Support (Only Via Email): MultiBank Group reportedly only offers customer support via email, which is very inconvenient for some traders who prefer phone or live chat support for quicker assistance.

  • No Regulation: This is a significant concern. Without regulatory oversight, there's a higher risk of potential issues like manipulation or lack of investor protection.

Is MultiBank Group Limited Safe or Scam？

  • Regulatory Sight: MultiBank Group Limited is currently functioning without any regulation, meaning it does not fall under the supervision of any financial regulatory bodies and does not possess any licenses to operate in the financial market. The absence of any such oversight raises concerns about the firms adherence to financial standards and regulations, increasing the risk for investors.

No license

  • User Feedback: Users should check the reviews and feedback from other clients to gain a more comprehensive sight of the broker, or look for reviews on reputable websites and forums.

  • Security Measures:

Segregated Account: MultiBank ensures that client funds are kept separate from the company's operational funds. This segregation helps protect clients' funds in the event of the company facing financial difficulties.

Investment Compensation Fund (ICF): MultiBank provides a certain level of coverage under an Investment Compensation Fund, which offers protection to eligible clients in the event of the company's insolvency. This fund serves as an additional layer of protection for clients' investments.

Market Instruments

  • Forex: Currency pairs from major, minor, and exotic currencies, allowing traders to participate in the global foreign exchange market.

  • Crude Oil: Trading opportunities in crude oil, providing exposure to one of the most actively traded commodities in the financial markets.

  • Precious Metals: Access to trading in precious metals such as gold, silver, platinum, and palladium, offering opportunities for portfolio diversification and hedging against inflation.

  • Indices: Trading on a variety of stock indices from around the world, enabling investors to speculate on the performance of major equity markets.

  • Cryptocurrency: Exposure to the cryptocurrency market, including popular digital assets like Bitcoin, Ethereum, Ripple, and others, allowing traders to capitalize on the volatility of cryptocurrencies.

Market Instruments

Customer Support

The customer support of MultiBank Group Limited is rather limited, which can only be accessed via email at multi@multi-banks.com. Without immediate means of contact (phone number, live chat), users will have difficulty reaching their customer service, which can result in negative user feedback and overall trading experience.

Conclusion

MultiBank Group Limited is a non-regulated trading platform providing multiple market instruments, which is available both on the website and mobile app. Since the company is without regulation and efficient customer support, we do not recommend users to invest on this platform.

Frequently Asked Questions (FAQs)

Q: Can I call them if I need help？

A: No, you can't, since it does not provide any means of contact but only via email.

Q: Is MultiBank Group Limited regulated or not？

A: No.

Q: Is there a demo account available？

A: Yes.

Q: Is my money safe with it？

A: No. Though it applies security measures - segregated accounts and Investment Compensation Fund (ICF), it holds no regulation, which brings significant risks.

Risk Warning

Online trading involves significant 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 provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

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User comment

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Comments

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Tiny Princess
more than one year
MultiBank Group Limited offers virtual accounts and is very beginner friendly. But when I want to consult customer service for some questions, I find that I can't find their contact information, which makes me very disappointed.
MultiBank Group Limited offers virtual accounts and is very beginner friendly. But when I want to consult customer service for some questions, I find that I can't find their contact information, which makes me very disappointed.
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2024-07-03 16:09
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DGSHJ
more than one year
This platform is just ****. Leverage is also ****. If u deposit 100€ as a beginner in the forex u cannot open trade higher than 0.01. Cannot withdraw money easily as u have to contact whole day. Bad experience i sont recommend it.
This platform is just ****. Leverage is also ****. If u deposit 100€ as a beginner in the forex u cannot open trade higher than 0.01. Cannot withdraw money easily as u have to contact whole day. Bad experience i sont recommend it.
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2024-03-28 12:09
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