Multibank Group: Is This Forex Broker Legitimate or a Hidden Risk for UAE Traders?

Updated September 2026: the original version of this article described hands-on Robius testing of MultiBank Group, including account opening, Emirates ID verification, spread measurements, a UAE card deposit and a withdrawal after seven days. We could not reconstruct a test account record, transaction record or other evidence strong enough to support those claims, so they have been removed.

The original article also used a broad regulator “tier” table and a 12-month complaints assessment as if Robius had completed a documented comparative study. We are no longer using those claims. The LEGIT verdict stands on something much stronger and easier for a reader to verify independently: the UAE legal entity and its current local licence.

MultiBank Group is a global trading brand operating through multiple legal entities. For a UAE resident, the most important question is not how many licences the group lists worldwide. It is which legal entity is actually named on the agreement governing the account.

THE ROBIUS VERDICT: LEGIT. MEX Global Financial Services LLC holds a genuine UAE Category 1 licence covering brokerage in OTC derivatives and spot currencies. The protection is entity-specific. Before depositing, confirm that MEX Global Financial Services LLC and licence 20200000031 are the legal entity and licence shown for your account.

The UAE Licence Is Real

MultiBank is a group brand. The UAE entity relevant to this review is MEX Global Financial Services LLC.

A UAE licence-renewal certificate for the company shows licence 20200000031, an original licensing date of 25 July 2022 and validity through 31 December 2026. The listed activities include trading in international markets and brokerage in OTC derivatives and spot currencies.

That is substantive brokerage permission. It is materially different from a company merely holding a marketing, introducing or advisory permission while another offshore entity actually takes the client account.

The UAE regulator is now the Capital Market Authority. Historical documents may still show the former Securities and Commodities Authority name because the licence was originally granted before the 2026 transition.

The Licence Does Not Follow the Brand Name Everywhere

MultiBank Group operates through several legal entities in different jurisdictions. A licence held by one company in the group does not automatically regulate an account opened under another company.

This is the single most important check for a UAE user. Read the client agreement, terms or onboarding disclosure and identify the exact counterparty before sending money.

If your agreement names MEX Global Financial Services LLC and licence 20200000031, you can verify the UAE-regulated entity against the current regulatory record. If it names another MultiBank company, verify that company with the regulator responsible for that entity instead. Do not assume a group-level regulations page means every account receives the same protection.

Why We Removed the Global “Tier” Table

The earlier version ranked regulators in Australia, Germany, Canada, Singapore, Seychelles, St Vincent and Vanuatu as “Tier 1” or “low tier” and then used the total number of supposedly top-tier licences as part of the verdict.

That is not necessary for this UAE review. Regulatory quality is more complicated than a three-word label, and group licences outside the UAE do not determine which regulator covers a UAE resident’s specific account. The cleaner approach is to verify the entity actually taking the account and the permissions attached to that entity.

The DFSA History Still Matters — but It Is Historical

The Dubai Financial Services Authority published an alert in 2021 about false claims that certain MultiBank entities were authorised by the DFSA. In 2022, the DFSA separately clarified that MEX Australia Pty Ltd had voluntarily withdrawn its DFSA licence and was no longer authorised or regulated by the DFSA.

Those records should not be confused with the current mainland UAE licence held by MEX Global Financial Services LLC. They concern different entities and a different regulatory route.

What Robius Can and Cannot Say About the Platform Experience

MultiBank publicly offers MetaTrader trading platforms and publishes account, spread, funding and withdrawal information. Those are company disclosures. Robius is not presenting them as independently measured performance unless we have a reproducible test record.

The previous article crossed that line by stating that Robius completed KYC in under 24 hours, measured a specific EUR/USD spread, deposited using a UAE bank card and successfully withdrew after seven days. Those statements are gone because we could not substantiate the underlying test.

The same applies to the old complaint table. Public reviews can be useful for finding patterns worth investigating, but they do not justify claims such as “not systematic,” “isolated,” or “no credible evidence” unless the review method, sample and classification process are documented.

Do Not Use a Small Deposit or Withdrawal as a Legitimacy Test

The earlier version also suggested becoming comfortable with a broker after testing a small deposit. Robius no longer recommends that as a safety test.

A successful small deposit or withdrawal shows only that one transaction was processed. It does not prove that the legal entity is correctly licensed, that larger withdrawals will be handled the same way or that a dispute will fall under the regulator you expect.

The stronger checks happen before money moves: identify the contracting entity, verify its licence independently, check that the licensed activities match the product being offered, read the withdrawal and complaint terms, and understand the leverage and loss risk.

Leverage Is Still the Product Risk

A legitimate licence does not make leveraged forex or CFD trading low-risk. Leverage amplifies both gains and losses, and losses can accumulate very quickly when positions are highly geared.

Check the leverage limits, margin-closeout rules, negative-balance protections and client classification that apply to the exact account you are being offered. Do not assume protections from another jurisdiction or another MultiBank entity automatically apply to you.

How to Verify the UAE Entity

Use the Robius five-minute trading-platform check before funding any broker or trading app.

Bottom Line

MultiBank Group is not receiving a LEGIT verdict because Robius supposedly made a successful test withdrawal. That was never the strongest evidence.

The defensible basis is simpler: MEX Global Financial Services LLC holds a real UAE brokerage licence for substantive trading activities. That is a strong positive regulatory signal.

The caveat is equally important. MultiBank is a multi-entity group, so the licence that matters is the licence attached to the company actually named on your agreement. Verify that entity before funding, and remember that a legitimate broker can still offer products capable of producing significant losses.

Sources

• MEX Global / UAE licence renewal certificate: MEX Global Financial Services LLC, licence 20200000031; licensed activities and validity through 31 December 2026 — mex.ae

• MEX Global UAE: current UAE regulatory disclosure naming the Capital Market Authority, Category 1 status and licence 20200000031 — mex.ae

• MultiBank Group: current group regulations page showing the broader multi-entity structure — multibgroup.com

• DFSA: 2021 alert concerning false claims that certain MultiBank entities were DFSA-authorised — dfsa.ae

• DFSA: 2022 clarification that MEX Australia Pty Ltd voluntarily withdrew its DFSA licence and is no longer authorised or regulated by the DFSA — dfsa.ae

• UAE Capital Market Authority: current financial-activity licensing framework — uaecma.gov.ae

This is not financial advice.

Robius.news — Dubai, UAE — 2026 | Built to be first. Built to be trusted.