Score

1.53 /10
Danger

Fake MBG Markets

The Virgin Islands

5-10 years

Suspicious Regulatory License

Suspicious Overrun

High potential risk

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Comparison

Quantity 72

Exposure

Open Account
Website

Score

Regulatory Index0.00

Business Index7.15

Risk Management Index0.00

Software Index4.00

License Index0.00

The WikiFX Score of this broker is reduced because of too many complaints!
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Licenses

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 FX International Corporation

Company Abbreviation

Fake MBG Markets

Platform registered country and region

The Virgin Islands

Company website

Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away! 6
Previous Detection : 2024-11-10
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 57 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

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Pyramid scheme complaint
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    Fake MBG Markets · Company summary

    Basic Information & Regulators of MBG Markets

    MultiBank Group was established in California, the USA, in 2005. Since its establishment 15 years ago, the group come with a paid-in capital of more than 322 million US dollars, providing trading products including forex, commodities, indices, and precious metals for more than 320,000 retail and institutional investors. The daily trading volume of the group in forex and financial derivatives exceeds 6.2 billion US dollars. At present, the company holds a full license issued by the Australian Securities and Investments Commission (ASIC), as well as a retail forex license issued by the Virgin Islands Financial Services Commission (FSC) and a general financial license issued by the German Federal Monetary Authority (BaFIN). It also accepts the UAE Supervision by Dubai Financial Services Authority (DFSA), Cayman Islands Monetary Authority (CIMA), Spanish National Securities Market Commission (CNMV), and Austrian Financial Market Supervisory Authority (FMA).

    Market Instruments

    The company can trade mainstream and popular financial instruments in the global financial market, including forex, indices, stocks, and precious metals (gold & silver).

    Leverage & Account of MBG Markets

    To meet investors' different investment needs and investment strategies, the company has set up Professional accounts and ECN accounts. The minimum deposit for both accounts is $500. The default leverage for professional accounts is 1:200, and the adjustable trading leverage is 1:50. The default leverage for ECN accounts is 1:200, and the adjustable trading leverage is 1:50.

    Spreads & Commission Fees of MBG Markets

    The main spreads for professional accounts are 2 pips for EUR/USD, 2.7 pips for AUD/USD, 2 pips for GBPUSD, 0.35 US dollars for gold, 0.035 US dollars for silver, 0.03 US dollars for crude oil, and 0.5 euros for CFD on the German DAX30 index. The main spreads of the ECN account are 0.1 pips for EUR/USD, 0.2 pips for AUD/USD, 0.1 pips for BGP/USD, 0.12 for Gold/USD, 0.016 for Silver/USD, and 0.014 for crude oil. Each trade (unilateral) charges a commission of 3.5 U.S. dollars.

    Trading Platform Applied of MBG Markets

    The company provides traders with the most popular MT4&MT5 trading platforms. Apart from flexible order trading functions, MT4 software also provides functions such as market quotation, chart analysis, indicator programming, alert alarms, news, and email communication. MBG Markets also provides MetaTrader 4 (MT4) mobile trading platform, which can support iOS and Android mobile systems. MT5 software is an updated and more advanced version of MT4, which can provide brand new operating functions to enhance the customer's trading experience. In addition to the various functions offered by MT4, there are also improved trading functions and enhancements for custom indicators and expert advisors' script tool.

    Deposit & Withdrawal

    Deposit methods include wire transfer, VISA/MASTERCARD credit card, bank card, and Skrill e-wallet. There is no handling fee for wire transfer, and it takes 1-5 working days to arrive in accounts. The other three ways of depositing are free of charge, and the time to arrive is one working day. If the user chooses Visa and MasterCard credit cards, bank cards, and Skrill, the withdrawal may be carried out by wire transfer. Depending on the bank, the intermediary bank may charge a transfer fee of 5 to 20 US dollars. Due to the difference in the bank time's remittance process, the funds generally arrives at the bank designated by the user within 1-5 working days.


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    宋扬
    more than one year
    I wish I had read the reviews earlier. I invested money and made a very nice "fake" profit, which when I tried to withdraw this is when all hell broke loose. Firstly, they did not pick up any of my calls. Then I got a call a week later saying that all my money had been lost because of the volatility in the market...
    I wish I had read the reviews earlier. I invested money and made a very nice "fake" profit, which when I tried to withdraw this is when all hell broke loose. Firstly, they did not pick up any of my calls. Then I got a call a week later saying that all my money had been lost because of the volatility in the market...
    Translate to English
    2023-02-22 17:49
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    mashraf
    more than one year
    Hy how r u every body I suggest all of u plz enjoy app with happiness I will never see like that good spout laver
    Hy how r u every body I suggest all of u plz enjoy app with happiness I will never see like that good spout laver
    Translate to English
    2023-01-31 21:38
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