WikiFX Report: MultiBank Group’s Footsteps in the Philippines

MultiBank Group, a global financial services provider, has launched operations in the Philippines a long time ago, where its entry, activities, and eventual retreat from the market left behind a trail of questions. This article reviews the brokers history in the country, highlights specific cases, and underscores the importance of caution when dealing with MultiBank Group.

Timeline of MultiBank Group in the Philippines

• 2017 – Entry into the Market

  MultiBank Group expanded into the Philippines market, seeking to tap into the rising number of retail forex traders. The broker launched marketing campaigns, online promotions, and public seminars to attract local clients.

MultiBank Group positioned itself as a global player, promising advanced trading platforms and a wide range of financial products.

• 2018 – Aggressive Promotions

  The company intensified its presence through trading workshops and partnerships with local affiliates. MultiBank Group actively organized events and trading seminars in Manila and other major cities, presenting itself as a reputable choice for Filipino traders. It collaborated with local partners to expand its influence and encouraged traders to open accounts with promises of competitive spreads and high returns.

However, reports began to emerge that many clients faced withdrawal difficulties, hidden fees, and issues with transparency. Some traders complained that their accounts were unfairly restricted or that profits were erased without clear explanations. These controversies tarnished the firms image among Filipino investors.

• 2019 – Growing Complaints

  Reports from Filipino traders surfaced about withdrawal delays, hidden fees, and unexplained account restrictions. Some clients alleged being pressured to deposit more funds before withdrawals could be processed.

• 2020 – Regulatory Scrutiny

  With the rise of complaints, local regulators began monitoring forex brokers more closely. MultiBank Groups activities in the country faced suspicion from investors.

• 2021 – Quit

  Marketing events and seminars became less frequent, and the company scaled back its operations in the Philippines. Its visibility declined significantly, signaling a retreat from the local market.

• 2023–2025 – Complaints Continue

  Despite a diminished presence in the Philippines, WikiFX continued receiving global complaints against MultiBank Group, many echoing the same issues Filipino traders had faced earlier.

Recently, WikiFX has received a surge of complaints from traders worldwide about MultiBank Group. Many of these grievances echo the same problems Filipino traders faced in the past—withdrawal restrictions, lack of customer support, and questionable practices.

Some traders reported that their accounts were blocked after making profits, while others faced sudden deductions or unexplained balance adjustments. These issues severely damaged the brokers reputation among Filipino investors.

Given this history and the ongoing complaints, WikiFX reminds all traders to exercise caution. Always verify a brokers regulatory status and track record before investing.

WikiFX Time Machine: Tracing the History

To provide transparency, WikiFX offers a Time Machine feature that allows users to view the historical evolution of a brokers website through a timeline. By using this tool, traders can track how MultiBank Group has changed its claims, regulatory details, and service offerings over time.

More than 700 Complaints gathered

Even though MultiBank Group claimed it to be regulated, recently, WikiFX has received the number of complaints from traders worldwide against the MultiBank Group, has more than 720.

MultiBank Groups' controversial history in the Philippines serves as a reminder of the risks of trading with untrustworthy brokers. We advise traders who are curious about this issue to stay vigilant. Stay tuned for more information about MultiBank Group.