FNG Exclusive… FNG has learned that leading Retail FX and CFDs broker MultiBank Group has continued its international expansion, receiving a CySEC CIF license for subsidiary MEX Europe Ltd. The license was formally granted on May 22, 2023.
MEX Europe Ltd will operate the mexeurope.com website for the brand, focusing on clients in the EU.
The company is also establishing an office in Limassol, Cyprus to support the operation.
Naser Taher, Chairman of MultiBank Group said:
“We are immensely proud of obtaining the CySEC license, reflecting our dedication to continuously developing the world’s leading regulated financial products and services ecosystem. MultiBank Group has been operating in the financial industry with an unblemished track record for over 20 years, and as such, it has built a reputation for providing the highest level of funds security, first-class financial services, award-winning technology and products that have made MultiBank the world’s most widely used financial derivatives broker with a loyal customer base of over 1,000,000 users.”
The company said that the unveiling of MEX Europe comes when MultiBank Group is expecting to go public in 2023 with several ground-breaking projects including an inter-bank ECN trading platform for financial institutions and banks, a digital assets exchange regulated in Australia, an enhanced social trading application and a global digital payments processor, aiming to create the world’s first cross-asset ecosystem to bridge the gap between traditional and other emerging forms of finance.
In addition to the CySEC license, MultiBank Group announced last October it had obtained licenses from SCA of the UAE and MAS of Singapore. MEX Europe joins the ranks of other financial institutions within the MultiBank Group that are regulated by regulatory authorities, including ASIC, AUSTRAC, BaFin, FMA, FSC, CIMA, TFG, and VFSC. With 12 regulators, MultiBank Group ensures a fully regulated and secure trading environment for clients worldwide. From its establishment to this day, MultiBank Group maintains an impeccable regulatory record with over 25 branches worldwide.
Last year MultiBank relocated its global headquarters to Dubai from Hong Kong, as part of an initiative to expand globally. MultiBank Group is comprised of several entities that are heavily regulated across 5 continents by 11+ financial regulators, including in Australia, Germany, Austria, Cyprus, Cayman Islands, UAE, BVI, Singapore, and Vanuatu.
