Contact Us
MyMEX
IB

FinanceMagnates Interview of Naser Taher: Forex Regulators Need to Go Even Further

2017-3-3  |  Blog  

Naser Taher Chairman of MultiBank Exchange Group

1st March 2017, Finance Magnates

MultiBank Exchange Group was established in 2005 in California, USA. Since its launch it has evolved into one of the largest financial institutions worldwide, with a current paid up capital of over USD 322 million. It is regulated by the FCA in the UK, ASIC in Australia, the FSC in the British Virgin Islands and by the Tianjin Financial Government in China. Finance Magnates sat down with the chairman of the group to discuss the state of the industry and his company’s direction.

What is your view on the recent issues happening in the market, particularly regarding withdrawal of FXCM from the US?

That’s actually a very important subject that I wanted to discuss. What’s clear is we’re in the middle of an industry consolidation caused by increased and more stringent regulation. It’s reshaping the financial derivatives industry worldwide. And it’s doing something very simple and extremely important- namely, bringing greater transparency and increased security of funds for institutional and retail traders alike. I fully support the recent measures taken by the regulators in the UK, the US and Australia. However, I wish to emphasis that in relation to the stringent regulations and utterly essential consolidation, we are beyond the beginning, but nowhere near the end. The road is still long.

We understand from your previous interview that your ECN group had a possible relationship with IKON Finance and other companies that have been affected by the recent events. Have any of these recent events resonated with MultiBank Exchange Group?

I’ve been in this business for 25 years, and our group has been operational since 2005. During this time, we have used more than 80 prime brokers and liquidity providers comprising of bank and non-bank exchange participants. Our compliance departments take the utmost measures when choosing our exchange members.

We never had a relationship with FXCM or Pepperstone. However, we did previously have a relationship with IKON Finance, but this was utterly terminated in early 2016 when we restructured our group and changed our name to MultiBank Exchange Group. So I am pleased to inform you that we have not been affected whatsoever by these recent events.


What has MultiBank Exchange Group been up to since the launch of MultiBank Exchange technology?

We had just recently had our company’s annual gala dinner in Hong Kong, at the sidelines of the iFX Expo, to celebrate the increased regulation and the success and great achievements MultiBank Exchange Group has made in 2016.

It is significant to note that large forex banks have been losing customers and institutional businesses to ECNs and exchanges in terms of cash flow during the course of the last few years. MultiBank Exchange Group, being the market leader in the field of ECNs and exchanges, has benefited substantially from the migration of these customers and institutions from the big banks to us. Business is leaving them and coming to us every single day.

During 2016, MultiBank Exchange Group customers and partners traded over $1 trillion in foreign exchange trading and financial derivative products, which is a nice measure of how much our customers love our technology and pricing, as it is $4 billion per day.

MultiBank_Exchange_Group_Forex_Company

Where are you heading in 2017?

Being one of the largest companies in the industry with a first class security of funds and risk management systems and a paid up capital of over $322 million, and offices spread around the globe, we are achieving great things and making great progress in our core markets. We have expanded our operations with new branches in California in the US, Shanghai, Hangzhou and Shenzhen in China and Ho Chi Ming City in Vietnam.

We are now in the process of establishing our new branches in Poland and Portugal with further expansion schemes in Uruguay and Brazil.

We believe 2017 will be a very exciting year for us as well, as we continue our expansion plan further in Asia while also focusing on our European and worldwide markets.

Please tell us about yourself.

I have 28 years of experience in the financial and commercial industries worldwide. I worked with many of the major global financial institutions such as BNP Paribas, Barclays, UBS, Merrill Lynch, Credit Suisse as an expert in the fields of e-commerce, foreign exchange, electronic banking systems and raising finance. I held a number of prominent positions worldwide such as the Head of the Irish Stock Exchange Development Project in Asia, the Vice President of the Chinese Banking and Entrepreneur Association, Honorary Financial Advisor to the Chinese Financial Government in Tianjin and Shenzhen, Senior Counselor to the Board of Tradition Group of Companies, the Head of IFX PLC China Development Project and the Chairman of Air Via.

Amongst my accomplishments, I had the expertise to establish the first private airline company in Eastern Europe; I was able to raise finance in the order of $20 billion and made submissions to the UK House of Lords in relation to UCP 500 & 600 in commercial law.

I now devote myself fully to performing an IPO for MultiBank Exchange Group in Hong Kong estimated at $4.5 billion. I am also in the process of establishing a charitable organization to assist the refugees during these turbulent political times.

Introducing Broker Services

MultiBank is recognized worldwide for its Introducing Broker service with a network of over 30,000 Introducing Brokers many of whom have partnered with MultiBank since 2005. We value our Introducing Brokers and offer them the highest levels of personalized customer care which allows them to expand their business. Our IB products and services include, but are not limited to, industry leading commission and rebate returns, customized account opening applications, full IB account panel enabling the monitoring of rebates and account movements, a wide range of trading instruments, analysis and technology tools (including MAM and PAMM accounts).

FIND OUT MORE

  • Best pricing on all products
  • Full IB Back office including traceable IB banners and links
  • Unbeatable IB conditions offering the maximum commission and rebate returns on transactions
  • Support from a Global Support Team offering first class, professional and multilingual 24 hour service
  • Full set of marketing materials including brochures, calendars, educational materials and account opening documents

Deposits

You can fund your trading account instantly using a variety of secure payment options. All our client funds are held in separate bank accounts with the world’s top tier one banks. Please click “Find Out More” for details of the various deposit methods.

 

Withdrawals

MultiBank provides you with easy and instant access to your money. To withdraw funds from your account simply submit your withdrawal request online using the MyMEX account area. Alternatively, please send us an email to ics@mexgroup.com from the email address associated with your account and our Customer Support Department will assist you with your withdrawal request.

FIND OUT MORE

Worldwide Presence

Our group is heavily regulated worldwide by the Australian Securities and Investment Commission (“ASIC”) of Australia, the Federal Financial Supervisory Authority (“BaFin”) of Germany, the Financial Services Commission (“FSC”) of the BVI, the Cayman Islands Monetary Authority ("CIMA")and the others. MultiBank has offices in Sydney, Los Angeles, Vienna, Frankfurt, Madrid, Cyprus, British Virgin Islands, Cayman Islands, Shang Hai, Beijing, Tianjin, Shanghai, Hangzhou and Ho Chi Minh City.

FIND OUT MORE

Regulatory Licenses

  • MEX Australia Pty Ltd is regulated by ASIC
    License number 416279
  • MEX Asset Management GmbH is regulated by BaFin
    License number HRB 73406
  • MultiBank FX International regulated by FSC
    License number SIBA/L/14/1068
  • MEX Wealth Management is regulated by CIMA
    License number HS-320499

Security of Funds

MultiBank continues to provide clients with the highest level of security of funds through various funds protection and custodial programs. Our companies are regulated globally, and we uphold the strictest regulatory requirements.

FIND OUT MORE

  • MultiBank is a globally regulated financial derivatives provider, and ensures the highest level of funds security for its clients
  • Clients’ funds are held in segregated accounts under top tier banks such as Barclays, Lloyds or NAB Bank
  • Settlement facility offered to institutional customers, brokers and banks to increase level of funds security
  • Trading credit lines and custodial account services available to all clients

Technology

MultiBank provides award-winning technology solutions which allow customers to manage their business and trade with ease and full control.
MultiBank is a pioneer in the financial technology arena by being one of the first companies to launch a Forex Exchange in China, and by developing and owning all its software and trading systems. We have been consistently recognized as one of the world’s fastest growing FinTech firms that operates an Exchange trading model

FIND OUT MORE

  • Customized technology solutions based on personal trading requirements
  • 24/7 real-time market news, technical analysis and fundamental analysis
  • Direct access to interbank prices along with stable and fast order execution

MultiBank's Franchise Program allows established Introducing Brokers to open offices under the ‘MultiBank’ brand name, introduce their company as part of MultiBank Exchange Group and enjoy exclusivity in the use of MultiBank’s products and brands in their region.

The Franchise Program provides partners with the perfect opportunity to expand their business while enjoying a wide ranging of exclusive benefits including expenses and revenue sharing, marketing support and higher rebate schedules.

FIND OUT MORE

MultiBank Franchise Program Benefits:

  • PL & expense sharing agreements
  • Immediate recognition across the industry
  • Full access to all trading and Back Office data
  • Represent MultiBank exclusively in your region
  • Comprehensive marketing and technical support

Live Account

MultiBank offers its valued Customers direct trading access to banks and exchanges through its advanced trading platforms.Open a trading account with one of our regulated companies to trade a variety of instruments including foreign exchange, metals and CFDs

FIND OUT MORE

Demo Account

We offer a wide range of powerful trading technologies that give you direct market access to Banks, ECN’s and exchanges.Open a free $100,000 Demo Account and test our cutting edge trading platforms offering foreign exchange, metals and CFDs.

FIND OUT MORE

Products

MultiBank offers individuals, introducing brokers, institutions and banks cutting edge ECN exchange execution, stable platforms and unbeatable pricing in the field of online financial trading in products, including but not limited to, Foreign Exchange, Metals (Gold & Silver), Contracts for differences (CFDs), Stock CFDs .

FIND OUT MORE

  • State-of-the-art trading platforms
  • Enjoy ECN liquidity with direct access to 18 major banks and liquidity providers globally
  • Instant and stable nano-second execution
  • 5 levels of market depth

Trading Tools

Improve your trading strategy and make better decisions by utilizing MultiBank’s wide array of trading tools, including MAM & PAMM accounts, VPS, Expert Advisors (EAs) & APIs. Keep up with the latest market news, updates and analysis.

FIND OUT MORE

  • MAM & PAMM Accounts
  • VPS
  • Scalping Policy
  • Expert Advisors
  • APIs
  • Economic Calendar
  • Market News