FCA Warns on Complex ETP Sales Practices
UK FCA urges firms to tighten complex ETP sales, citing rising retail demand and risks tied to leverage and social media promotions.
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Abstract:MultiBank Group’s employee(s) and clients are mad at it, whilst MultiBank Group blames WikiFX. What is all this drama about?

WikiFX has deemed MultiBank Group an unreliable broker after conducting careful and thorough reviews from various dimensions in terms of the validity of its licenses and business operations while considering the overwhelming negative customer reviews.


These reasons contributed to MultiBank Groups low credibility. However, MultiBank Group does not like such a public airing of their dirty laundry.
In conjunction with WikiFXs warning posts and articles, MultiBank Group lashed back at us defensively.


Another dirty act of MultiBank Group is not paying its employee in China.

According to the employee in concern, he had been working in the Shenzhen office of MultiBank Group as a Forex analyst since 2019. In January 2022, he received a notice that the office would be shut down as MultiBank Group planned to exit the China market. The employee agreed to the promised compensation package and left the company in February. Unfortunately, he did not receive a single penny from the company. This dragged on for 10 months until he decided to expose the truth through Sohu Business. For the full article (in Mandarin), read here: https://business.sohu.com/a/593641554_100122350.
This employee also revealed that MultiBank Group had not responsibly settled its clients funds which could be further explained by the complaints uploaded on Twitter.




Not only does MultiBank Group received complaints from its employee, but also trading clients, it is justifiable that this is a forex broker that should be flagged.

Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

UK FCA urges firms to tighten complex ETP sales, citing rising retail demand and risks tied to leverage and social media promotions.

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