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MultiBank Obtains BaFin License and Expands Its Business through Acquisition and Aggressive Growth

2017-12-7  |  Blog  

As reported by BusinessWire:

December 5, 2017 (Hong Kong) –

http://www.businesswire.com/news/home/20171205006513/en

MultiBank Exchange Group (“MultiBank Group”) announced today that is has secured the German Financial Regulator’s approval to acquire 100% shares of MEX Asset Management GmbH and is now in the process of establishing its European headquarters in Frankfurt, Germany. The new European headquarter of MultiBank Group in Frankfurt has been planned since early 2017, and will have a particular focus on the DACH countries (Germany, Austria and Switzerland), offering a unique suite of financial services and innovative products.

Commencing early 2017, MultiBank Group has concentrated its efforts and resources to increase its regulatory status and expand into Europe and other jurisdictions. The regulatory expansion resulted in the addition of new licenses through MEX Asset Management GmbH in Germany (regulated by BaFin), MultiBank FX International in the British Virgin Islands (regulated by the FSC) and MEX Wealth Management Limited in the Cayman Islands (registered with CIMA), making MultiBank Group one of the most regulated online financial derivatives company in the industry.

Given the upcoming Brexit and the forthcoming MIFID 2 regulations going live in January 2018, which is likely to cause substantial changes in Europe’s regulatory environment, particularly the restrictions which will be placed on FCA regulated firms to passport into Europe, the Board of MultiBank Group has resolved to suspend its UK operations and operate its European business through its new European headquarter in Frankfurt, Germany. Previously, the Group conducted business in the UK through MEX (Europe) Limited, which is ultimately owned by Marcus Cumberland. This business relationship with MEX (Europe) Limited has been terminated. By establishing its European headquarter in Frankfurt, MultiBank Group is leading the initiative in the forex and asset management markets, and join other financial institutions such as Goldman Sachs, JP Morgan and Morgan Stanley, to shift their operations from the UK to mainland Europe.

In line with its achievements in expansion and product diversification in Europe, MultiBank Group launched its index on the Frankfurt Stock Exchange under the name of MultiBank Index (ISN XS1633062127) in July 2017 at a par value of 1,000 EUR. The MultiBank Index started trading on September 8, 2017 and to date has surged to a value of over 1,155 EUR, producing a phenomenal increase of close to 16%.

The Chairman of MultiBank Group, Mr. Naser Taher, stated, “Our expansion in Germany, the Cayman Islands and the British Virgin Islands is just the beginning of establishing MultiBank Exchange Group as an absolute market leader in financial regulations, cutting-edge products and innovative financial technology. I say this is just the beginning because, in fact, MultiBank Exchange Group is currently in the process of establishing further regulated entities and subsidiaries in the UAE, Spain and Uruguay, in addition, of course, to continued expansion in the DACH countries.”

MultiBank Exchange Group

www.mexgroup.com

MultiBank was established in California, USA in 2005. Since its launch MultiBank has evolved into one of the largest online financial derivatives providers worldwide. Combining prime liquidity, cutting edge technology and first-class customer service, MultiBank delivers advanced trading platforms and tight pricing in online financial products, including Foreign Exchange, Metals Stocks and CFDs. In 2016, MultiBank achieved a notional turnover in excess of US$1.57 trillion in financial derivatives trading from a client-base of over 280,000 participants stretching across 90 countries worldwide. With over 550 employees worldwide, MultiBank maintains offices in Hong Kong, Sydney, Frankfurt, Madrid, Dubai, Beijing, Tianjin, Hangzhou, Ho Chi Minh City, Limassol (Cyprus) and others.

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).

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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.

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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.

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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.

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  • 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

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  • Customized technology solutions based on personal trading requirements
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  • 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.

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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

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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.

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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 .

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  • 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.

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  • MAM & PAMM Accounts
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