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MultGroup

Australia|1-2 years|
Suspicious Scope of Business|High potential risk|

https://www.multgroup.com/

Website

Rating Index

Contact

multgroup@multgroup.com
https://www.multgroup.com/

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Warning: Low score, please stay away! 4
Previous Detection : 2024-12-05
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The AustraliaASIC regulation (license number: 296805) claimed by this broker is suspected to be clone. Please be aware of the risk!
  • The VanuatuVFSC regulation (license number: 700455) claimed by this broker is suspected to be clone. Please be aware of the risk!
  • The Vanuatu VFSC regulation with license number: 700455 is an offshore regulation. Please be aware of the risk!

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MultGroup · WikiFX Survey

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MultGroup · Company Summary

MultGroup Information

MultGroup is an accessibility-based platform that includes both web-based versions for users and desktop and mobile ones. It gives many trading resources including currencies, energies, products, and indices, and has an interface in two different types of accounts. The major problem of MultGroup is that it works without regulation which generates several threats to users.

MultGroup Information

Pros and Cons

ProsCons
  • Easy-to-use platform with desktop and mobile access
  • Operates without regulatory oversight, potentially exposing traders to risks
  • Offers two account types and a demo account
  • Limited customer support methods
  • Offers multiple assets to trade

Is MultGroup Legit?

MultGroup operates without any regulatory body to oversee its operation. Such absence of rules may place investors at a higher risk, given that there is no institution to monitor. The domain multgroup.com was registered on May 15, 2024, and is currently in a status where the owner has prohibited domain transfers.

Is MultGroup Legit?
Is MultGroup Legit?

What Can I Trade on MultGroup?

MultGroup avails its users the ability to transact through the following derivatives: CFDs for currency pairs, energies, commodities, and indices.

Tradable InstrumentsSupported
Forex
Commodities
Indices
Metals
Futures
Stock
Option

Account Type

MultGroup offers two types of accounts: Standard and ECN. It also provides a demo account which would enable the less experienced users to practice for free. The Standard account allows trading with no commissions and starting at 1 pip spreads which are designed for new entrants or those that trade small lots. The ECN account, on the other hand, comes with a round turn commission of $6 and spreads start from 0. It is most suitable for high-frequency traders apart from those clients who want the highest level of price transparency.

Account Type

MultGroup Fees

FeatureStandard AccountECN Account
Minimum SpreadFrom 1 pipFrom 0.0 pip
Commission$0 commission$6 commission per round trade
LeverageUp to 500:1Up to 500:1
Minimum Deposit$200$200

Trading Platform

Trading PlatformSupportedAvailable DevicesSuitable for what types of traders
MetaTrader DesktopPCInvestors of all experience levels
MetaTrader MobileApple & GoogleInvestors of all experience levels
Trading Platform
Trading Platform

Customer Service

You can reach out to MultGroup's 24-hour Live Support by email at multgroup@multgroup.com

Contact OptionsDetails
PhoneN/A
Emailmultgroup@multgroup.com
Supported LanguageEnglish, Chinese, Japanese, Korean, German, French, Russian, Portuguese, Italian, Thai, and Vietnamese

The Bottom Line

MultGroup presents diverse tradable assets with currencies, commodities, and indices available through standard and ECN accounts with a convenient working terminal. However, unregulated space might put the user at risk of unexpected negative experiences. On this basis, MultGroup appears to be most advantageous to trades who are eager to perform their research themselves and those who do not have qualms about engaging in unregulated trading.

FAQs

Is MultGroup good for beginners?

No. Due to the lack of regulation and potential risks, MultGroup is not suitable for beginners.

Is MultGroup good for day trading?

No. The platform may offer features suitable for day trading, but the lack of regulation remains a major concern.

Broker Information

Company Name

MultGroup Limited

Abbreviation

MultGroup

Regulatory Status

Suspicious Clone

Platform registered country and region

Australia

Company website
Type of License

Description of Approved License Type

Type I

The financial instrument business deals with highly liquid securities and provides derivative transactions, which have characteristics.

As mentioned above, the main business content of the first type of financial instrument business operators can be roughly summarized as securities business (securities, securities CFD, etc.), financial futures business (FX), derivative trading business related to cryptocurrencies, securities management, etc. The work can be divided into four categories.

Type II

The financial instrument business basically refers to funds (shares of collective investment plans), trust beneficiary rights with lower liquidity, that is, financial instrument transactions excluding major securities such as stocks and corporate bonds. These are referred to as "equivalent securities" in the various items listed in the second paragraph of Article 2 of this Sale Business Law (hereinafter referred to as "equivalent securities").

In addition, the self-issuance (private placement and public offering) of certain securities such as investment trust beneficiary rights that are not regarded as securities, currency-related market derivative transactions, etc. are also positioned as Type II financial instrument business.

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Customer Service Email Address
  • multgroup@multgroup.com

Company Summary

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