MultiBank Group: Accumulates 728 Scam Complaints

Introduction: the mask of a “global giant”

MultiBank Group presents itself as a global powerhouse in derivatives, CFDs, and Forex , with a presence in several countries, thousands of instruments, and “up to 16 regulatory licenses .” The showcase is impeccable: polished websites, social media campaigns, influencers, and promotional prizes.

But the experience of those who actually traded with the group tells a different story. The document analyzed gathers hundreds of complaints from customers in different countries, culminating in 728 complaints —most involving withdrawal issues , account blocking , bonuses that block withdrawals , and regulatory opacity . These elements, combined, pose a high risk for Forex investors seeking a reliable broker.

Throughout this article, we expose the critical points raised in the complaints and explain, in a practical way, how to recognize and avoid the traps of untrustworthy brokers .

How MultiBank Group Earns Trust (and Where Risks Begin)

MultiBank Group 's commercial strategy follows a script known among high-risk brokers :

· Aggressive marketing with emphasis on “global” reputation, supposed awards and partnerships .

· Offering high leverage (often 1:500 or more), attracting less experienced profiles.

· Deposit bonuses and “exclusive benefits” that seem irresistible, but impose clauses that, in the end, make withdrawals difficult .

· Regional campaigns (LatAm and Asia) with local agents, creating a sense of proximity and trust.

The problem arises when the user experience doesn't match the hype. Reports of platform crashes , endless document requests during withdrawals, changes to terms without notice, and diffuse responsibilities among sister companies (or companies with very similar names) in offshore jurisdictions are multiplying . All of this increases the information asymmetry against the customer and creates a maze of recovering funds .

“Strong Regulation”? The Myth Debunked in Practice

MultiBank Group 's recurring promise is that it holds “multiple licenses from top-tier regulators.” In practice, what we find is:

· Licenses that do not cover all activities claimed in marketing.

· Old registrations that have already been revoked , suspended or limited .

· Intensive use of offshore jurisdictions (e.g. Vanuatu, BVI ) that do not offer clients robust compensation mechanisms or effective oversight .

· Fragmented corporate structure : multiple companies, similar names, different headquarters — which makes it difficult to hold accountable in disputes.

For traders, this means legal uncertainty . If there's a dispute, where and against whom will you sue? The local broker that served you is rarely the same entity listed in the main contract. And when a regulator exists, it often doesn't cover Forex/CFDs for clients outside the jurisdiction.

Revoked licenses, offshore entities, and corporate confusion

The most frequently repeated warning signs in the dossier include:

· Licenses revoked by major regulators (landmark cases in respected jurisdictions).

· Public alerts from market authorities in European countries against domains and entities linked to the group.

· Frequent changes of “registered” domains, brands and addresses .

· Dependence on offshore entities to serve international clients.

This combination creates a high operational risk scenario . Even if an entity X in the group appears to have an active license , it 's not guaranteed to be responsible for holding your balance . In many situations, the operation is redirected to a sister company with less oversight—and it's precisely in this regulatory vacuum that withdrawal freezes and unilateral rule changes occur .

Recurring complaints: blocked withdrawals, abusive demands and missing history

Customer complaints, repeated across different countries, follow a pattern :

· Withdrawals blocked or “under analysis” for weeks/months , without reasonable justification.

· Documentary requirements that are renewed with each attempt (proof of residence, source of funds, selfies with documents, etc.).

· “Generous” bonuses that hide minimum volume and restrictive conditions , blocking withdrawals.

· Disappearance of history or retroactive change of operation reports .

· Evasive service : generic responses, constant changes of attendant and absence of SLA .

None of these elements, taken alone, proves fraud. Together , however, they paint a picture of a typical problematic brokerage , especially when the regulatory framework is weak and unclear —as in the case of MultiBank Group .

Cases and patterns: what the complaints have in common

When comparing reports, clear patterns emerge :

1. Aggressive communication when collecting, bureaucratic when withdrawing.

2. Promise of “institutional” spreads and execution , but slippage and requotes at critical moments.

3. Transfer of responsibility between group units.

4. 24/5 support is only in words; in practice, gaps that delay or make solutions unfeasible.

These patterns are classic red flags for high-risk brokers . For those who trade Forex with disciplined risk management , operational unpredictability is as dangerous as market volatility.

Regulatory Landscape: Why the Risk Score is so Low

The document compiles regulatory alerts and documentary inconsistencies that help explain the group's poor reliability rating from independent evaluators. The decisive factors:

· History of revocations/suspensions in key jurisdictions.

· Conflicts between what is advertising and what is, in fact, authorized .

· Corporate structure that dilutes responsibilities.

· High volume of withdrawal and service complaints .

For investors, the message is unequivocal: without a solid and transparent regulatory framework, there is no security — especially when operations are cross-border (client in one country, entity in another, server in a third).

Latin America and Brazil on the radar: why you are being targeted

MultiBank Group has a clear commercial priority in Latin America . The reasons are well known:

· Expanding market , with many new traders .

· Low average financial education , which increases the effectiveness of marketing.

· Less oversight for cross-border digital offerings .

In Brazil , the lack of local registration to offer derivatives/Forex to retailers is already a warning sign . If something goes wrong, the CVM and the Central Bank won't be able to compensate you —and you'll have to file lawsuits abroad, facing high costs , language barriers , and jurisdictional uncertainty . In other words, legal risk skyrockets .

Real risks to your capital: what's at stake

When operating with MultiBank Group , you may be exposed to:

· Total loss of capital due to blocked withdrawals .

· High counterparty risk , without clear segregation of funds or netting schemes .

· Bonus practices that trap the customer.

· Abnormal slippage and requotes that distort your risk management strategy .

· Dependence on offshore entities , outside the effective reach of first-line regulators .

For a disciplined trader , all these points dismantle the basic premise of professional Forex : risk control + operational predictability .

How to protect yourself: step-by-step anti-fraud checklist

Before depositing any amount :

1. Check the actual license

· Look for the license number on the broker's website.

· Check the license directly on the regulator 's website ( FCA , ASIC , BaFin , CySEC , NFA /CFTC).

· Confirm that the entity that will hold your balance is exactly the licensed one.

2. Avoid offshore entities for primary accounts

· If there's an “offshore vs. top-tier” option, go with the top-tier — even if the spread is a little higher.

3. Withdrawal test

· Deposit a small amount , operate, request withdrawal . If it gets stuck, abandon it .

4. Avoid bonuses

Bonuses block withdrawals . Refuse them. It's a trap to increase retention time and volume .

5. Read reviews and complaints

· Consult independent platforms (like WikiFX ) to see recent complaints and risk scores .

6. Document everything

· Save screenshots , emails , terms and receipts . In a dispute, proof is your best weapon .

7. Risk management first

If the broker adds operational risk to your strategy, it is useless — no matter how good the spread is.

What to do if you already have an account (or money stuck)

If you are already exposed to MultiBank Group :

1. Stop depositing immediately.

2. Request a partial test withdrawal.

3. If there is a blockage , request a written justification and deadline .

4. Submit a formal complaint to the company's Customer Service Department and keep the protocol .

5. File a complaint on independent platforms (WikiFX) and, if applicable, with the regulator of the entity responsible for your contract .

6. Evaluate legal action with a lawyer specializing in international disputes and digital assets/CFDs .

7. Never give in to “additional deposits” required to “unlock withdrawals.” This is a pressure technique to increase your losses .

Conclusion: is it worth taking this risk?

MultiBank Group has built a discourse of authority that doesn't hold up in the face of mounting complaints , regulatory inconsistencies , and documented operational opacity . In Forex , where every pip matters, predictability and compliance aren't “extras”: they're survival conditions .

For Brazilian investors , the assessment is straightforward: the risks far outweigh any promise of return . There are sufficient regulated brokers in top -tier jurisdictions to avoid the legal hassles of fragmented , offshore corporate structures with a history of complaints .

WikiFX Recommendation: Before opening an account, check the broker on WikiFX , confirm licenses on the regulators' website , refuse bonuses , and test withdrawals with a low amount. Trust is proven in withdrawals , not in promises.

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