January 31, 2023

MultiLP FX Reviews- Why multilp.com Is Scam

MultiLP Reviews

Do you want to trade on MultiLP FX? Here is what you must know about this broker multilp.com. See reviews to find all about it.

This post promises to share helpful review to support users/traders in making the right decision.

MultiLP

MultiLP FX is an offshore brokerage company with a lot of promises for traders. The broker claims regulation from  Kuwait Ministry of Commerce and Industry and licensed by the Chamber of Commerce and Industry. This, we will find out.

What is more, the broker offers different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents different account types like Standard, Professional and Elite account.

To clarify, traders must know they are dealing with an unknown broker which does not have a regulation over its head.

Withdrawal and Deposit

Withdrawal process:

Under withdrawal policy, MultiLP leaves us with no specific information on withdrawal fee nor processing days on withdrawal request. Sadly, this is a common scheme usually used by suspicious FX broker to keep traders under the cloud.

MultiLP Minimum Deposit:

Multilp FX minimum deposit is indicated $100.

As for the payment methods, the broker accepts only cryptocurrencies. Truly, you should not consider making any payment with this broker because it is a risk. So beware!

MultiLP Platform:

MultiLP FX claims to operate on MT4. Even though this is the standard trading software in forex market, it still doesn’t make this broker different from other scam trading platforms.

As for the leverage, it can get up to 1:500. Truly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.

Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website

Why multilp.com Is A Suspicious Broker

First of, multilp com has no financial authority overseeing its financial services. Its regulation claim is not legit as the authority responsible for licensing forex brokers in Kuwait is actually the Central Bank of Kuwait (CBK).  We could not confirm its regulation.

More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.

These are drawbacks for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.

MultiLP Licensing and Regulation

It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.

COMPARE WITH A TRUSTED BROKER

Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website

Bottom Line:

MultiLP FX located at multilp.com claims to be a trustworthy trading broker, however, that cannot be ascertained. From indications, we would advise traders to steer clear from this broker as it likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.

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Heard of Kurmay-global , Forextimeprime brokers? Read here!

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