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Contract reading

What MultiBank Group legally published, but does not want you to read

Every clause below is published by MultiBank Group itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on .

Contracting entity: MEX Atlantic Corporation

marketing contradictionsole discretionhidden feeprofit voidingswap freewithdrawalsaccount suspensionbonus lockcounterpartydeemed acceptance

MultiBank's website, Chinese by default, promises negative balance protection, separate client accounts, unrestricted automated trading and no dealing desk.
The MEX Atlantic contract says you owe any deficit and your funds may not all be segregated.
MEX Atlantic takes the other side of every trade, and it can void winning trades it believes involved manipulation.
You get 48 hours to dispute a trade, and the March 2026 reissue added only a chatbot disclaimer.

Back to MultiBank Group

Contract risk

Money at risk
7.5/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
7
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
25
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
14
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
10

How the 25 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical7
Warning12
Notice6

section 23 of 26is where the deepest clause sits, 88% of the way into the document it is in

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

3 of these 4 figures come from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical$1000000In the contract. Jump to the clause this comes from.Separate accounts promised, but your funds may not be segregatedCritical30 daysProfit at risk. Jump to the clause this comes from.Winning trades can be voided while losing ones standCritical2 daysTime to complain. Jump to the clause this comes from.48 hours to object, then the trade record is final$60Fee on an unused account. Jump to the clause this comes from.$60 a month once the account goes quiet

What the documents say

25 clauses worth knowing about, worst first, each quoted from MultiBank Group's own files

01

MultiBank's platform pages promise negative balance protection, which would mean you can never lose more than you deposit. The MEX Atlantic agreement says the opposite: if a loss runs past your deposit, you owe MEX Atlantic the deficit.

In plain words

Negative balance protection is a limit that stops you owing more than you put in. Without it, one fast market move can leave you owing the broker money on top of your deposit.

Why this matters

A fast market can leave your account negative, and the contract turns that shortfall into a debt you must pay. The bonus terms mention clients who request a negative balance adjustment, but the agreement gives you no right to one.

Exhibit 1CriticalStandard wording

If you fail to do so within the required time, your position may be liquidated at a loss and you will be liable for any resulting deficit.
Clause Risk Disclosure Statement in Risk Disclosure Statement, Electronic Trading Terms and Client Agreement, p.2
Read from the broker's site on Archived copyOpen the reference
Set against a regulated standard: ESMA (EU), CySEC (Cyprus), BaFin (Germany), FCA (UK)

Firms licensed by CySEC, BaFin and other regulators applying the ESMA rules, and firms licensed by the FCA or ASIC, must give retail CFD clients negative balance protection, so losses stop at the money in the account. This contract makes you liable for any resulting deficit.

MultiBank Group is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

02

MultiBank's security page promises separate client accounts and a Lloyd's policy covering each account up to $1 million. MEX Atlantic's own risk warning says your funds may not all be held in a segregated account. The agreement never mentions the insurance.

Why this matters

If MEX Atlantic fails, money outside a segregated account is not protected, and the agreement makes you an unsecured creditor, paid after secured creditors. Clause 23.4 also lets pooled client money pay the banks that hedge MEX Atlantic's exposure to other clients.

Exhibit 2CriticalRarely seen$1000000

Your funds may not all be held in a segregated account, this will depend on the amount you have deposited and the amount of capital you have utilized to hold your margined positions.
Clause 5 in Risk Warning, p.2
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), ASIC (Australia)

Firms licensed by the FCA must keep client money segregated from their own money. Since 2018, firms licensed by ASIC may not use a retail client's money for their own purposes, hedging included. This contract lets MEX Atlantic use client money to pay its hedging counterparties, and its risk warning says your funds may not all be segregated.

MultiBank Group is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

03

If MEX Atlantic believes you manipulated its prices or platform, it can void your winning trades and still enforce your losing ones. Clause 9.10 lets it do this without notice and hold any funds it suspects came from that trading.

Why this matters

To get voided profit back you have 30 days to produce conclusive evidence that you did nothing wrong. Clause 9.9 also lets MEX Atlantic take back past profits it links to an undefined abuse of liquidity, at any point in the relationship.

Exhibit 3CriticalHarder than usual30 days

If we reasonably believe that you have manipulated our prices, our execution processes or our trading platform, we may in our sole and absolute discretion without notice to you:
Clause 9.10 in Risk Disclosure Statement, Electronic Trading Terms and Client Agreement, p.17
Read from the broker's site on Archived copyOpen the reference

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Reasonable beliefMEX Atlantic decides it reasonably believes you manipulated its prices, execution or platform, and can act without notice.9.10
Notice to youYour winning trades are treated as void from the outset, your losing trades stand, and suspect funds can be held.9.10
Day 30Unless you produce conclusive evidence of no breach within 30 days of the notice, the voiding stands.9.10
  • Worse together with Exhibit 4Clause 9.10 asks you for conclusive evidence within 30 days, while clause 8.5 makes MEX Atlantic's own computer records conclusive evidence of what happened.
04

You have 48 hours after a trade appears on the platform to object to its confirmation. After that it counts as conclusive proof, except for manifest error. If your records differ, clause 8.5 says MEX Atlantic's computer records prevail.

In plain words

A manifest error means an obvious mistake by the broker.

Why this matters

Miss the window during a holiday or a busy week and a wrong price becomes final. Clause 8.5 is stricter still: it wants a disputed confirmation raised by telephone the moment you receive it.

Exhibit 4CriticalHarder than usual2 days

Unless objected to within 48 hours after the executed transaction appears on the trading platform, the confirmation will be deemed conclusive proof of the accuracy of such contents and their execution in accordance with this agreement except only in the case of manifest error.
Clause 6.6(a) in Risk Disclosure Statement, Electronic Trading Terms and Client Agreement, p.11
Read from the broker's site on Archived copyOpen the reference

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Two minutesIf no confirmation appears within two minutes of clicking buy or sell, you must tell MEX Atlantic at once, or only its recorded trades count.8.5
On receiptDispute a confirmation by telephone immediately, or the trade as MEX Atlantic recorded it counts as agreed.8.5
48 hoursWithout an objection within 48 hours of the trade appearing, the confirmation is conclusive proof, except for manifest error.6.6(a)
05

MEX Atlantic's current cash reward campaign lets it confiscate the reward and the related profits. It can do so if it finds trading done only to build volume, hedging between accounts, or arbitrage. The terms never define arbitrage, and MEX Atlantic can change or end them without notice.

Why this matters

Profit you made with your own deposit while the reward sat on the account can go with it. MultiBank's separate deposit bonus terms add a right to correct trade calculations whenever abuse is only suspected.

Exhibit 5CriticalHarder than usual

若发现客户存在 "刷单"（仅以刷取交易量为目的之开仓、平仓行为）、多账户内部对冲、套利等行为，将立即取消其参与资格，并没收现金奖励及相关盈利。
Clause 13 in 独家现金礼遇 活动与条款
Read from the broker's site on Open the reference
Our own capture of multibank.link, taken on Oct 24, 2026Bonus campaigns can cost you the profits as well (clause 13)Visit this page on the broker's siteDownload the full size image file
Set against a regulated standard: ESMA (EU), CySEC (Cyprus), BaFin (Germany), FCA (UK)

Firms licensed by CySEC, BaFin and other regulators applying the ESMA rules, and firms licensed by the FCA or ASIC, may not offer retail CFD clients trading bonuses. These campaigns run under MEX Atlantic Corporation in the Cayman Islands.

MultiBank Group is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

MEX Atlantic can undo profitable trades on belief or suspicion

Three clauses let MEX Atlantic undo trades after the fact. If it believes you manipulated prices it can void your winning trades, and you get 30 days to prove otherwise. It can also reverse orders an EA placed without prior approval, and cancel trades on all your accounts over suspected swap-free abuse.

Trade reversal2 clauses flagged

MultiBank's platform pages promise no restrictions on EAs (expert advisers, programs that trade automatically). The agreement bans them unless you ask in advance. On an account not labelled for EA use, MEX Atlantic can reverse the orders an EA placed.

Why this matters

If you trust the website and switch on an EA, its trades can be cancelled, winners included. Ask for EA labelling before you start; the agreement says it costs nothing extra.

Exhibit 6CriticalHarder than usual

In order to ensure the stability of the MEX Atlantic Corporation platforms and Products, “Expert Adviser” (EA) strategies are not permitted on our platform unless in accordance to clause 9.11.2.
Clause 9.11 in Risk Disclosure Statement, Electronic Trading Terms and Client Agreement, p.17
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If MEX Atlantic suspects abuse of a swap-free account, the swap-free agreement lets it act at its sole discretion. It can close all your accounts, cancel the trades in them with their profits or losses, and charge back the swaps it waived.

Why this matters

Suspicion is enough. The remedy reaches every account you hold with MEX Atlantic, not only the swap-free one. The swap charge-back can cover the whole period the account was swap-free.

Exhibit 7CriticalHarder than usual

If the Company suspects or detects any abuse, and/or manipulation, and/or any fraudulent activity relating to the Client’s swap-free account, the Company reserves the right at any time and at its sole discretion to take whatever action the Company deems appropriate in the circumstances and at the time.
Clause 13 in Swap-Free Trading Account Agreement
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Buried at section 23 of 26 in the Swap-Free Trading Account Agreement, 88% of the way through.

Swap-free is not cost-free, and the only spread cap is 20%

MEX Atlantic may charge storage fees on swap-free positions open 1 day or more, with the amounts published only on mexatlantic.ae. When a position closes under the agreement, its spread can reach 20% or one cent, whichever is greater. Positions outside the normal trading size have no cap at all.

Cost disclosure2 clauses flagged

MultiBank's swap-free page promises zero overnight rollover fees. The agreement lets MEX Atlantic charge storage fees on certain instruments once a position has been open 1 day. The amounts appear only on mexatlantic.ae, a different website.

Why this matters

Swap-free does not mean free of overnight costs. Exotic currency pairs get only 3 swap-free days. Shares and spot indices get none, even though the social trading page offers swap-free shares.

Exhibit 11WarningHarder than usual1 days

The Company has the right to charge certain instruments Storage Fees on positions that have remained open for 1 day or more, most recent information can be found on the company website (https://www.mexatlantic.ae/tools/trading-conditions)
Clause 9.12.6 in Risk Disclosure Statement, Electronic Trading Terms and Client Agreement, p.18
Read from the broker's site on Archived copyOpen the reference
Our own capture of multibank.link, taken on Oct 24, 2026The claim, on Chinese social trading page, shares panelVisit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must tell a retail client the costs and charges before they trade. This agreement lets MEX Atlantic charge storage fees, and change any fee, by publishing figures on a website.

MultiBank Group is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

When a position closes under the agreement, clause 12.5 caps MEX Atlantic's spread at 20% or one cent, whichever is greater. The spread is the gap between its buy and sell prices. For positions outside the normal trading size, there is no cap at all.

Why this matters

The 0.0 pip spreads on the website are marketing, not a promise. The only limit you have in writing is far wider than any normal market spread.

Exhibit 12WarningHarder than usual20%

Where a margin FX contract, FX option contract or CFD is closed under this Agreement, we will determine the contract price at the time of closing in accordance with the current prices than being quoted by us, but except where the margin FX contract, FX option contract or CFD to be closed is outside the normal trading size, our spread used in calculating the contract price will not exceed 20% or one cent (or equivalent currency unit), whichever is the greater.
Clause 12.5 in Risk Disclosure Statement, Electronic Trading Terms and Client Agreement, p.23
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Same-day processing on the form, discretionary holds in the contract

MEX Atlantic's withdrawal form promises same-day processing for complete requests received by 12:00 UK time. Clause 17.4 of its agreement still lets it withhold part of your balance at its discretion, including while it considers a dispute with you unresolved. The agreement itself sets no deadline for paying you.

Exit conditions1 clause flagged

MultiBank's withdrawals page says you receive your funds immediately. Clause 17.4 lets MEX Atlantic hold back part of your balance at its discretion. It can do so while any overnight position shows a loss, or while it considers a dispute with you unresolved.

Why this matters

The agreement sets no deadline for paying you, and holding your money during a dispute puts pressure on you in that dispute. MEX Atlantic's own withdrawal form is better: it processes complete requests received by 12:00 UK time the same day.

Exhibit 9WarningHarder than usual

But, we may at our discretion withhold from the amount of the credit balance if: a. Any overnight position on your account shows a notional loss;
Clause 17.4 in Risk Disclosure Statement, Electronic Trading Terms and Client Agreement, p.30
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  • Worse together with Exhibit 14After any event of default, clause 15.2 lets MEX Atlantic keep money it owes you against liabilities that may never arise, on top of the holds in clause 17.4.

MultiBank's bonuses lock your money and can take profits with them

MultiBank's 20% deposit bonus unlocks at $200 for every 80 lots traded within 90 days. MEX Atlantic's cash reward for the Chinese-language market needs up to 200 lots in 90 days. Withdraw deposited money early and the bonus goes, and a finding of arbitrage lets MEX Atlantic confiscate the reward and related profits.

Bonus conditions1 clause flagged

MultiBank's 20% deposit bonus unlocks at $200 for every 80 lots traded within 90 days, a lot being one standard trade unit. Withdraw deposited money before then and the unconverted bonus is removed. MEX Atlantic's cash reward, offered only to the Chinese-language market, deducts the whole reward if you withdraw before its lot target.

Why this matters

A bonus makes the account look bigger than the money you can take out. Until the lots are traded, part of your balance belongs to the promotion, not to you.

Exhibit 16WarningStandard wording80

此可损失奖金可以按每 80 手外汇和贵金属交易 200 美元的比例提取。
Quoted in 20% 存款红利 条款和条件
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  • Worse together with Exhibit 5While the reward is still locked, any finding of arbitrage or hedging between accounts can take the reward and the related profits as well.

MEX Atlantic can suspend, close or default your account on its own judgement

MEX Atlantic can suspend your account for any reason, with only an aim of finishing its investigation in five business days. It can declare default over market conditions it calls abnormal and then set off your funds. Since 28 September 2026, keeping a swap-free account also depends on volume, leverage or a $20,000 balance.

Account control5 clauses flagged

MultiBank's Islamic account page says the account is for any client. The special trading terms of 28 September 2026 limit it to nationals of the six Gulf states. Everyone else gets a regular swap-free account with volume, leverage and equity tests.

Why this matters

To keep a regular swap-free account you must hold $20,000 on average, trade $25 million a month per $10,000, or use at least 1:50 leverage. A smaller account can only pass by trading heavily or using positions worth 50 times its money, which raises your risk.

Exhibit 13WarningRarely seen$20000

Available exclusively to GCC nationals from:
Clause 1.A in Special Trading Terms, p.1
Read from the broker's site on Open the reference
  • Worse together with Exhibit 7The special terms let MEX Atlantic act on misuse of swap-free conditions, and clause 14 of the swap-free agreement sets out what it can then take, across all your accounts.

The agreement counts abnormal trading conditions, and anything MEX Atlantic considers necessary to protect its rights, as events of default. Once it declares default, MEX Atlantic can close your positions and set off your money, taking what it says you owe. It can also keep amounts it owes you against liabilities that may never arise.

Why this matters

A default usually means the client did something wrong. Here MEX Atlantic's own view that the market is abnormal is enough, and the consequences land on your account.

Exhibit 14WarningHarder than usual

We reasonably consider that there are abnormal trading conditions;
Clause 15.1(i) in Risk Disclosure Statement, Electronic Trading Terms and Client Agreement, p.27
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MEX Atlantic can suspend your account pending an investigation for any reason, in its sole and absolute discretion. It can also terminate the agreement and close your account at any time for any reason. The special terms of September 2026 add heavy scalping, trades closed within 120 seconds making up over 70% of activity, as grounds for review.

Why this matters

While suspended you can only close positions, not open new ones. MEX Atlantic promises only reasonable efforts to finish within five business days, so there is no firm end date.

Exhibit 15WarningHarder than usual5 working days

Without limiting our right to take action under Clauses 15.2, 15.3 and 15.4, we may in our sole and absolute discretion suspend your account pending investigation for any reason.
Clause 15.5 in Risk Disclosure Statement, Electronic Trading Terms and Client Agreement, p.28
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MEX Atlantic can change the agreement by written notice, including to reflect changes in the way it does business. If you do not object within 14 days of the notice arriving, the agreement treats you as having accepted.

Why this matters

An email counts as received one hour after MEX Atlantic sends it, so the 14 days can start while you sleep. If you object, MEX Atlantic can ask you to close your account.

Exhibit 20NoticeStandard wording14 days

If you object to any changes, you must notify us within 14 days of the date the notice is deemed to be received under Clause 36. If you do not do so, you will be deemed to have accepted the changes.
Clause 18.3 in Risk Disclosure Statement, Electronic Trading Terms and Client Agreement, p.31
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What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Notice emailedThe notice of changes counts as received one hour after MEX Atlantic sends it.36.3(f)
Day 14If you have not objected, you are treated as having accepted the changes.18.3
If you objectThe changes do not bind you, but MEX Atlantic can require you to close your account or restrict your trading.18.3

Under Schedule 2, MEX Atlantic or a market's subcontractors may enter your premises and inspect your computer system. The notice must be reasonable, but in some cases it may be immediate.

Why this matters

For most retail clients the premises are a home, and you agree to this in advance by opening the account.

Exhibit 23NoticeRarely seen

In respect of any market to which we allow you to submit orders or receive information or data using Electronic Services, we may at any time or times, on reasonable notice (which, in certain circumstances, may be immediate) enter (or instruct our or the Market›s subcontractors to enter) your premises and inspect your System to ensure that it complies with the requirements notified by us to you from time to time and that you are using Electronic Services in accordance with this Agreement and any requirements of any relevant Market or Applicable Regulations.
Clause Schedule 2, 1.4 in Risk Disclosure Statement, Electronic Trading Terms and Client Agreement, p.50
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A trade becomes final 48 hours after it appears

MEX Atlantic gives you 48 hours to object to a trade confirmation, after which it is conclusive proof except for manifest error. Its own computer records prevail over yours. You also cover its losses and legal fees in many cases, and a new 2026 clause disclaims what its chatbot tells you.

Complaint deadlines2 clauses flagged

You must cover MEX Atlantic's losses and full legal fees in many cases, including when they arise from it closing your positions. You also pay for any loss caused by someone using your password, whether or not you allowed it.

In plain words

Indemnities are money it says you owe it.

Why this matters

A hacked account becomes your debt, not MEX Atlantic's. The cover you owe stops only at its gross negligence or wilful default, and it accepts no liability for any lost profit or opportunity.

Exhibit 18WarningHarder than usual

You agree continuously to indemnify us against all losses (including consequential losses), taxes, expenses, damages, charges, receipts, demands and expenses of any nature and on any account and liabilities present, future, contingent or otherwise and including legal fees on a full indemnity basis which may be suffered or incurred or brought against us or in connection with or caused by:
Clause 22.5 in Risk Disclosure Statement, Electronic Trading Terms and Client Agreement, p.33
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The only change in the March 2026 reissue of the agreement is a new clause 42 on the website's AI chatbot. You bear sole responsibility for relying on its answers, and MEX Atlantic accepts no liability for losses from using it.

Why this matters

Treat anything the chatbot says about fees, bonuses or withdrawals as unconfirmed until you find it in a document. The disclaimer names public Tamr documentation as the chatbot's source, which is another company's name.

Exhibit 22NoticeStandard wordingNew

Users of the AI chatbot bear sole responsibility for their interactions and reliance on the information provided.
Clause 42 in Risk Disclosure Statement, Electronic Trading Terms and Client Agreement, p.54
Read from the broker's site on Archived copyOpen the reference

Cayman law, with courts that bind only you

Cayman Islands law governs MEX Atlantic's client agreement, and you submit to the Cayman courts for its benefit only. MEX Atlantic can still sue you anywhere else. The agreement names no independent complaints scheme and refers to an arbitration clause it does not contain.

Governing law1 clause flagged

Cayman Islands law governs the agreement, and you submit to the Cayman courts for MEX Atlantic's benefit only. MEX Atlantic keeps the right to sue you in any other country, and the agreement names no independent complaints body.

Why this matters

A complaint you cannot settle with MEX Atlantic leads to a court in the Cayman Islands, far from most clients. The agreement also refers to an arbitration clause, 28.2(b), that does not exist in the document.

Exhibit 19WarningHarder than usual

This Agreement, and each margin FX contract, FX option contract and CFD between us and you will be governed by and construed in accordance with the law of the Cayman Islands.
Clause 35.1 in Risk Disclosure Statement, Electronic Trading Terms and Client Agreement, p.43
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Set against a regulated standard: FCA (UK), ASIC (Australia)

Firms licensed by the FCA or ASIC must give retail clients free access to an independent complaints scheme, the Financial Ombudsman Service or AFCA. This agreement names no such scheme, says only that you may be able to refer a complaint to an unnamed External Dispute Resolution party, and gives out its internal complaints policy on written request.

MultiBank Group is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Ten days to answer, and your data travels further than promised

MEX Atlantic can suspend your account if information it asks for in writing has not arrived within 10 days. Its client agreement lets it pass your details to related companies and third parties for marketing, even after you leave. Its privacy policy says outside parties will not get your details to market to you.

Documents and data2 clauses flagged

MEX Atlantic can ask in writing for any information it believes it needs. If it does not have everything within 10 days, it can suspend your account pending investigation.

Why this matters

The agreement puts no limit on what MEX Atlantic can ask for or when, so nothing stops a request arriving just as you ask to withdraw. It may also require you to confirm any instruction to send you money.

Exhibit 17WarningStandard wording10 days

When we have not received within 10 days of a written request all information, which we believe that we require in connection with this Agreement;
Clause 15.5(c) in Risk Disclosure Statement, Electronic Trading Terms and Client Agreement, p.28
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  • Same clause as Exhibit 15Both rest on clause 15.5: the 10-day document deadline is one of the listed reasons MEX Atlantic can suspend your account.

The client agreement lets MEX Atlantic pass your personal information to related companies and third parties for marketing. That permission lasts after you close your account. The privacy policy says outside parties will not get your details to market to you.

Why this matters

You have to opt out yourself, and the two documents give different answers about who gets your details. MEX Atlantic may also keep your data beyond 7 years if it says it cannot delete it for legal, regulatory or technical reasons.

Exhibit 21NoticeHarder than usual

You authorise us to pass your personal information to selected related entities of us or third parties for the purpose of contacting you by email, telephone or post to give you information about products offered by that related party for the period you have an account with us and after you have closed it.
Clause 29.7 in Risk Disclosure Statement, Electronic Trading Terms and Client Agreement, p.42
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MEX Atlantic takes the other side of trades it calls no dealing desk

MultiBank's MT4 page promises a pure no-dealing-desk structure with no conflict of interest. The MEX Atlantic agreement makes MEX Atlantic the other side of all your trades, and its traders may confirm or reject each order. It may also quote different prices to different clients.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

Counterparty risk1 clause flagged

MultiBank's MT4 page promises a pure no-dealing-desk structure with no conflict of interest. The agreement makes MEX Atlantic the counterparty, the other side, of all your trades. Its traders can confirm or reject each order, and it can quote different prices to different clients.

In plain words

Liquidity providers are outside banks and brokers.

Why this matters

When the firm across your trade also sets the price, its interest and yours can pull apart. Schedule 2 of the same agreement claims an agency model that covers every position, so the document contradicts itself.

Exhibit 8WarningStandard wording

We will deal with you as principal and not as agent on your behalf. This means that any trades are agreed directly between you and us and we will be the counterparty to all of your trades.
Clause 2.1 in Risk Disclosure Statement, Electronic Trading Terms and Client Agreement, p.5
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Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must identify and manage conflicts of interest, keep a written conflicts policy and take all sufficient steps to get the best possible result on client orders. This contract makes MEX Atlantic the counterparty to all your trades, lets it quote different prices to different clients, and no conflicts policy is published.

MultiBank Group is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

A quiet MEX Atlantic account pays $60 every month

MEX Atlantic charges $60 a month on any account with no new trade or rollover for 3 consecutive months, starting in month four. The fee runs until the balance is gone but never creates a debt. After six years without movement, MEX Atlantic may move an untraceable client's balance out of the segregated account.

In plain words

Dormancy means an account left unused.

Dormancy costs1 clause flagged

After 3 consecutive months with no new trade and no open position rolled over, MEX Atlantic charges an inactivity fee of $60 every calendar month. The first fee comes four months after your last activity.

Why this matters

A forgotten balance shrinks fast, because the fee runs until the account is empty, although it never pushes you into debt. After six years with no movement, and if it cannot trace you, MEX Atlantic may move what is left out of the segregated account.

Exhibit 10WarningHarder than usual$60

We will charge a monthly fee for any accounts which have had no “activity” for 3 consecutive months.
Clause 6.7 in Risk Disclosure Statement, Electronic Trading Terms and Client Agreement, p.12
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What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
3 consecutive monthsWith no new trade and no rollover on an open position, the account counts as inactive.6.7
Month 4MEX Atlantic takes the first $60 inactivity fee from your balance.6.7
Each month afterAnother $60 is taken every calendar month while the account stays inactive.6.7
Balance under $60MEX Atlantic takes what is left, down to zero, but never creates a debit balance.6.7
Six years without movementIf MEX Atlantic cannot trace you, it may release your remaining balance from the segregated account.23.3

MultiBank's headline regulators do not cover this account

MultiBank's site lists 18+ regulators, but its client agreement is with MEX Atlantic Corporation, licensed by the Cayman Islands Monetary Authority under number 1811316. MEX Atlantic's risk warning calls it merely a marketing arm. Its phishing warning names mexatlantic.com, while the login sits on our.multibank.link.

Contracting entity2 clauses flagged

MultiBank's site headlines 18+ regulators, including ASIC, BaFin, CySEC and MAS. The client agreement behind it is with MEX Atlantic Corporation, which names the Cayman Islands Monetary Authority as its regulator. Its risk warning then calls MEX Atlantic merely a marketing arm that trading has nothing to do with.

Why this matters

The protections of the group's ASIC, BaFin, CySEC and MAS companies do not come with this account. The agreement also points to a product disclosure statement and a financial services guide that the site does not publish.

Exhibit 24Notice

We are regulated by the Cayman Islands Monetary Authority with license number 1811316.
Clause 1.1 in Risk Disclosure Statement, Electronic Trading Terms and Client Agreement, p.4
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MEX Atlantic's website disclaimer tells you never to give account or password details to sites that do not match www.mexatlantic.com. Yet multibank.link sends you to log in at our.multibank.link, and the agreement points you to www.mexatlantic.ae for its policies.

Why this matters

The broker's own advice cannot help you tell its real sites from a clone. Check any login address with MultiBank in writing before you type a password.

Exhibit 25Notice

Therefore, we strongly advise that you do not disclose any account or password information to sites that do not cohere with the domain: www.mexatlantic.com
Quoted in Disclaimer, p.1
Read from the broker's site on Open the reference

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

The site promises negative balance protection, while the agreement makes you liable for any deficit.

Said in public, in Chinese

负余额保护

Word for word in English: Negative balance protection

Chinese MT4 platform page, list of MultiBank Group advantages; the English page carries the same line

In the contract · clause Risk Disclosure Statement

If you fail to do so within the required time, your position may be liquidated at a loss and you will be liable for any resulting deficit.

02

The site promises separate client accounts, while the risk warning says your funds may not all be held in a segregated account.

Said in public, in Chinese

我们维护独立的客户账户，不合并客户和公司投资，为客户提供终极投资安全。

Word for word in English: We maintain separate client accounts and do not merge client and company investments, giving clients the ultimate in investment safety.

Chinese security of funds page, segregated client accounts panel

In the contract · clause 5

Your funds may not all be held in a segregated account, this will depend on the amount you have deposited and the amount of capital you have utilized to hold your margined positions.

03

The site promises insured, guaranteed funds, while the agreement never mentions the policy and calls you an unsecured creditor.

Said in public, in Chinese

所有 MEX Atlantic 客户均受伦敦劳合社 (Lloyd’s of London) 的保单保障，该保单为每个账户的客户资金提供高达 1,000,000 美元的担保和保障。

Word for word in English: All MEX Atlantic clients are covered by a Lloyd's of London insurance policy, which guarantees and protects the client funds in each account up to US$1,000,000.

Chinese security of funds page, opening panel on Lloyd's insurance

In the contract · clause Risk Disclosure Statement

The obligations to you under the Client Agreement and the margin FX and CFDs are unsecured obligations, meaning that you are an unsecured creditor of ours.

04

The site promises no restrictions on EAs, while the agreement lets MEX Atlantic reverse EA orders placed without prior approval.

Said in public, in Chinese

EA 无限制

Word for word in English: No restrictions on EA

Chinese MT4 platform page, list of MultiBank Group advantages

In the contract · clause 9.11

MEX Atlantic Corporation reserves the right to reverse orders that are executed using EA methods on accounts that are not labelled as EA accounts or where the necessary advance confirmation has not been given.

05

The site promises a no-dealing-desk model without conflicts, while the agreement makes MEX Atlantic the counterparty to all your trades.

Said in public, in Chinese

纯无交易员平台 ECN 交易结构，可直接访问 20 多个银行间交易价格，不存在任何利益冲突。

Word for word in English: A pure no-dealing-desk ECN trading structure, with direct access to more than 20 interbank trading prices and no conflict of interest of any kind.

Chinese MT4 platform page, list of MultiBank Group advantages

In the contract · clause 2.1

We will deal with you as principal and not as agent on your behalf. This means that any trades are agreed directly between you and us and we will be the counterparty to all of your trades.

06

The site promises no requotes and no rejections, while the agreement lets MEX Atlantic decline any order without giving a reason.

Said in public, in Chinese

零佣金交易。负余额保护。无重新报价、无拒绝，EA 无限制。

Word for word in English: Zero-commission trading. Negative balance protection. No requotes, no rejections, no restrictions on EAs.

Chinese Why MultiBank page, feature 5

In the contract · clause 4.8

We may, but shall not be obliged to, accept instructions to enter into a transaction. If we decline to enter into a proposed transaction, we shall not be obliged to give a reason but we shall promptly notify you accordingly.

07

The site promises instant withdrawals, while the agreement lets MEX Atlantic withhold part of your balance at its discretion.

Said in public, in Chinese

MultiBank Group 让资金提取变得简单、即时，为您提供您应得的终极便利和安全。遵循我们安全可靠的提款流程，立即收到您的资金。

Word for word in English: MultiBank Group makes withdrawals simple and instant, giving you the ultimate convenience and security you deserve. Follow our safe and reliable withdrawal process and receive your funds immediately.

Chinese withdrawals page, opening paragraph

In the contract · clause 17.4

But, we may at our discretion withhold from the amount of the credit balance if: a. Any overnight position on your account shows a notional loss;

08

The swap-free page promises zero overnight fees, while the agreement allows storage fees once a position has been open 1 day.

Said in public, in Chinese

通过免隔夜利息账户，体验零隔夜展期费用的交易自由。

Word for word in English: With a swap-free account, enjoy the freedom of trading with zero overnight rollover fees.

Chinese swap-free policy page, opening paragraph

In the contract · clause 9.12.6

The Company has the right to charge certain instruments Storage Fees on positions that have remained open for 1 day or more, most recent information can be found on the company website (https://www.mexatlantic.ae/tools/trading-conditions)

09

The social trading page offers swap-free shares, while the swap-free agreement lists shares as not swap-free.

Said in public, in Chinese

享受全球最受欢迎的金融衍生品股票的无掉期交易，包括特斯拉、苹果、亚马逊、微软等

Word for word in English: Enjoy swap-free trading on the world's most popular share derivatives, including Tesla, Apple, Amazon, Microsoft and others

Chinese social trading page, shares panel

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of multibank.link

In the contract · clause 9

1 Shares No Not Applicable

10

The Islamic account page says the account is for any client, while the special trading terms limit it to nationals of six Gulf states.

Said in public, in Chinese

对于我们的伊斯兰客户，我们为任何客户建立了一个账户，免除账户中的所有掉期费用/利息。

Word for word in English: For our Islamic clients, we have set up an account, for any client, that waives all swap fees and interest on the account.

Chinese Islamic account page, opening paragraph

In the contract · clause 1.A

Available exclusively to GCC nationals from:

What changed quietly

This is the first review of MultiBank Group's documents, so there are no earlier findings to compare.

  • ADDEDClause 42 · Issued on August 30, 2021 to Issued on March 30, 2026

    A new clause 42 removes MEX Atlantic's liability for anything its website chatbot tells you.

    We cannot be held liable for any actions, losses, or damages resulting from the use of the chatbot.

  • REWRITTENClause · Issued on August 30, 2021 to Issued on March 30, 2026

    The cover now carries a 2026 issue date while the file name still says v10 of 15 June 2023, and pages 2 to 53 match the 2021 text word for word.

    Issued on March 30, 2026

  • REWRITTENClause 9 · Ver 1.2 28.02.09 to Ver 1.2 28.02.09, footer Revised 28Apr2026

    Natural gas left the list of instruments that are never swap-free, but the table no longer says what applies to it, and the version number stayed the same.

    10 Spot Oil, VIX No Not Applicable

The documents this reading is based on

14 files, all published by MultiBank Group. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording MultiBank Group publishes.

How this reading was done

Every clause above was read out of a document MultiBank Group publishes itself

This reading was published on .

Documents
11 of 14downloaded from the broker's site, and 11 read in full
Pages opened
17pages walked to find those documents, footer links included
Older copies
6earlier versions downloaded, 4 identical to the copy we hold by fingerprint
Marketing pages
11public pages set against what the contract says
Languages
EN vs ZHthe language it advertises in, against the language it contracts in
Position measured
1clauses whose position was counted: which numbered section of the document holds them, out of how many

Who the contract is with

MEX Atlantic Corporation

MEX Atlantic Corporation (Company Number 354945, Grand Cayman) is the principal and counterparty to every trade under the client agreement, and states it is regulated by the Cayman Islands Monetary Authority under licence 1811316. It is not MEX Group Worldwide Limited, the Hong Kong company that owns the MultiBank Group trade name, and none of the group's ASIC, BaFin, CySEC or MAS companies is a party. Payments through Paysafe are processed by MBFX International Corporation LTD in Limassol (clause 17.7), and Schedule 2 says UAE traffic is governed under MEX Global Financial Services LLC in Dubai.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

MEX Atlantic's withdrawal form gives a firm timetable: complete requests received by 12:00 UK time are processed the same day. When it cancels trades struck on stale or misquoted prices, Schedule 2 says it also reverses the closing trades so your net result is zero. The inactivity fee stops at a zero balance instead of creating a debt, and taking out only profit does not cost you the 20% deposit bonus. Every legal document is a free PDF linked from the footer of each page, and the client agreement now carries an issue date.

MultiBank also links a version of the MEX Atlantic client agreement marked v11 from multibankfx.com. It would not open, so it is unknown how it differs from the 30 March 2026 version on multibank.link that this review is based on. The bonus terms on multibankfx.com could not be read, so every bonus quotation comes from the bonus pages on multibank.link. The three MultiBank brochures are image-only PDFs and are not covered, and no earlier copies of two of them were available. Earlier copies of the risk warning, privacy policy, cookie policy and website disclaimer are identical to today's files, so they were compared by file only. The special trading terms of 28 September 2026 have no earlier version, and they say they apply during the above period without stating one. The broker publishes no terms for the social trading service, and the million dollar campaign page says its full terms are available only on request. The terms-and-conditions address on multibank.link shows a page-not-found message, and the footer links straight to the PDF. The review compares the Chinese and English pages. It does not cover the Taiwanese version.

How to check any of this yourself

Every quote above links to the MultiBank Group file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document MultiBank Group publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge MultiBank Group on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Oct 24, 2026.

If you represent MultiBank Group and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on MultiBank Group. Whether its licence is real and current is a separate check on the broker profile.

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