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Contract reading

What MULTILP legally published, but does not want you to read

Every clause below is published by MULTILP 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: MultiLP LTD

sole discretionhidden feedisclosuredispute barriermarketing contradictionprofit voidingaccount closurecomplaint windowcounterpartydeemed acceptance

MultiLP's website promises negative balance protection. Clause 10.9 of its contract makes you liable for any shortfall left after your positions are closed. The site advertises instant card withdrawals, while clause 24.26 pays out by bank transfer only, within five business days. You get 24 hours to report a trading error, and clause 37.5 makes you pay MultiLP's legal costs if you bring a claim. All four contracts are in English, sold from an Arabic site, and clause 29.1 says the Arabic binds nobody.

Back to MULTILP

Contract risk

Money at risk
8.5/10

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.
11
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
23
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
6
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
6

How the 23 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.

Critical11
Warning11
Notice1

section 52 of 57is where the deepest clause sits, 91% 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.

4 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.

Critical4In the contract. Jump to the clause this comes from.Four English contracts behind an Arabic websiteCritical5 working daysWithdrawal limit. Jump to the clause this comes from.Card withdrawals advertised, bank transfer only in the contractCritical$20Fee on an unused account. Jump to the clause this comes from.Dormant accounts lose 20 USD a month until emptyCritical2 working daysTime to complain. Jump to the clause this comes from.Twenty four hours to report a trading error

What the documents say

23 clauses worth knowing about, worst first, each quoted from MULTILP's own files

01

MultiLP's website tells you that you cannot lose more than you deposit. The contract says the opposite: any shortfall left after MultiLP closes your positions is your debt, and clause 10.9 lets MultiLP claim it.

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 close your account below zero and leave you owing money to a broker you had already paid. MultiLP's own risk warning, printed at the foot of the page making the promise, says your losses may exceed your initial investment.

Exhibit 1CriticalHarder than usual

all pending orders for the stopped-out account will be deleted, and any deficit that may result after liquidation will be considered as the Client’s liability and the Company has the right to claim such deficits.
Clause 10.9 in CFDs Client Agreement, p.15
Read from the broker's site on Archived copyOpen the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus), ESMA (EU)

Firms licensed by the FCA or CySEC, and firms under the ESMA rules, must give a retail CFD client negative balance protection, so the client can never owe more than the account holds. MultiLP's contract makes you liable for the deficit.

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

  • Worse together with Exhibit 2The same promise is made in Arabic, and clause 29.1 says nothing MultiLP writes in Arabic has any legal effect.
02

Every MultiLP legal document is in English, including the four you download from the Arabic page. Clause 29.1 says information in any other language is for information only and has no legal effect.

Why this matters

The Arabic pages that sold you the account cannot be held against MultiLP. Only the English PDF counts, and that is the version that promises you the least.

Exhibit 2CriticalHarder than usual4

Translation or information provided in languages other than English is for informational purposes only and does not bind the Company or have any legal effect whatsoever, the Company having no responsibility or liability regarding the correctness of the information therein.
Clause 29.1 in CFDs Client Agreement, p.26
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Where it sits: section 9 of 163 in the CFDs Client Agreement, near the start.

03

MultiLP's withdrawal page offers Visa, Mastercard and MultiLP Card payouts, all marked instant. Clause 24.26 says withdrawals will only be credited by wire transfer to the bank account you gave at registration.

Why this matters

Clause 24.8 gives MultiLP five business days to pay, not the instant the page advertises. Clause 24.12 then says you must take the money back out through the method you deposited with, which the same contract says is not available.

Exhibit 3CriticalHarder than usual5 working days

The Client agrees that withdrawals will only be credited by wire transfer to the client’s personal bank account that was submitted in the Customer Account Agreement or submitted through the new account registration form on the MultiLP website.
Clause 24.26 in CFDs Client Agreement, p.23
Read from the broker's site on Archived copyOpen the reference

What it costsA 1,000 USD balance withdrawn to a Visa card on a Monday is advertised as instant. Under clause 24.8 it can still be unpaid the following Monday.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must return client money promptly on request, and must set out any condition on withdrawal before the client deposits. MultiLP advertises one route on its website and allows a different one in its contract.

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

04

Six months without activity makes your account dormant. Clause 14.12 then takes 20 USD a month out of the balance, and keeps taking it until the balance reaches zero.

Why this matters

Nobody has to warn you before the charging starts. Getting the account back means passing the document checks again, funding it and placing at least one trade.

Exhibit 4CriticalHarder than usual$20

The Client agrees that when an account is classified as dormant, the Company has the right to charge an ‘inactivity fee’ of 20 USD (depending on the base currency of the client account) per month, which will be charged and debited from the balance of the specific account until the client account has the required funds available and/or until a zero balance/equity is reached.
Clause 14.12 in CFDs Client Agreement, p.18
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What it costsA 200 USD balance that goes quiet starts losing 20 USD a month from month six. By month twelve, when clause 14.13 closes the account, 120 USD of it has gone.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must set out an inactivity charge in their costs disclosure before a retail client trades. MultiLP's 20 USD a month appears in clause 14.12 of the client agreement, not in the fee tables it publishes on its website.

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

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
After 6 monthsMultiLP treats the account as dormant.14.11
Once dormantA 20 USD monthly fee comes out of the balance until the balance reaches zero.14.12
After 12 monthsMultiLP treats the account as closed and freezes it, so you cannot transact.14.13
To reopenYou must pass the document checks again, fund the account and place at least one trade.14.15
After six yearsMultiLP can release whatever is left from the segregated client account.26.10
05

Bring a claim against MultiLP and you pay the cost of its defence. Clause 37.5 covers its lawyers' fees, interest and expenses, and it does not say you have to lose the case first.

Why this matters

A dispute over a few hundred dollars can land you with MultiLP's defence bill on top of your own. Clause 37.3 separately makes you cover any claim or cost that arises from carrying out your orders.

Exhibit 5CriticalRarely seen

Without limiting the generality of the foregoing, the Client agrees to reimburse the Company on demand for any costs of collection incurred by the Company in collecting any sums owing by the Client under this Agreement and any cost incurred by the Company, including legal action/proceedings, in defending
Clause 37.5 in CFDs Client Agreement, p.31
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Our readingA costs clause normally follows the result, so the side that loses pays. This one makes the client pay whenever MultiLP defends a claim, and it sits next to a general promise to cover MultiLP's costs.

  • Worse together with Exhibit 6A short deadline decides whether you can complain at all, and this clause prices what happens if you push past it.
06

You get 24 hours to tell MultiLP about a trading error, under clause 28.3. Staying silent for two business days after a trade confirmation makes that trade final under clause 12.4.

In plain words

A manifest error means an obvious mistake by the broker.

Why this matters

A bad fill you notice over a weekend is already out of time. Clause 16.4 also blocks any legal action three months after the cause arose, whether or not you knew about it by then.

Exhibit 6CriticalHarder than usual2 working days

The client must inform the Company about any trading error within 24 hours from the error time; otherwise, the Company will not be able to investigate the error.
Clause 28.3 in CFDs Client Agreement, p.26
Read from the broker's site on Archived copyOpen the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA must deal with a complaint brought up to six years after the event, and must tell the client about the independent ombudsman they can go to next. MultiLP gives you 24 hours for a trading error and names no outside scheme.

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

  • Worse together with Exhibit 7The call recording that would settle a disputed order is destroyed long before the three month bar on legal action runs out.

MultiLP can reach back and take profit it decides came from price abuse

Clause 9.5 lets MultiLP retrieve historic trading profits from your account at any point in the relationship, where it can document the price abuse it alleges. Clause 34.6 lets it cancel a trade or rewrite the executed price at its own discretion. Clause 24.33 lets it set your balance and equity to zero over a deposit it decides was fraudulent.

Profit at risk2 clauses flagged

If MultiLP decides you profited by abusing its prices, clause 9.5 lets it take those profits back out of your account. It can reach any point in your relationship, though it has to be able to document the abuse.

Why this matters

Your balance is never settled by the passing of time. Clause 34.6 separately lets MultiLP cancel a trade outright, or rewrite the price it was executed at, at its own discretion.

Exhibit 8CriticalHarder than usual

retrieve from the Client’s account any historic trading profits provided that the Company can document that such trading profits have been gained through such abuse of price(s) at any time during the relationship with the Client
Clause 9.5 in CFDs Client Agreement, p.9
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A deposit MultiLP decides was fraudulent lets it set your balance and equity to zero, close your accounts and refuse to pay out any profit. Clause 24.33 has MultiLP confirming the fraud itself.

Why this matters

No outside finding is needed and the contract gives you no appeal. The options are joined by and/or, so MultiLP can zero the account instead of returning the deposit.

Exhibit 9CriticalHarder than usual

The Client agrees that in any case of the Company confirming a fraudulent deposit made by the Client through any deposit method, the Company has the right to refund the deposited amount and/ or apply a zero balance and equity to the trading account of the said Client and/or close any trading account of the said Client and/or deny the withdrawal of any profits and/or the coverage of any loss and/or waive any liability related to any loss of the client and/or reserve any legal right to take any legal action against the said Client at any jurisdiction.
Clause 24.33 in CFDs Client Agreement, p.23
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Every MultiLP withdrawal goes out by bank transfer, whatever the website shows

MultiLP's funding page advertises Visa, Mastercard and MultiLP Card withdrawals, marked instant, with no commission. Clause 24.26 says withdrawals will only be credited by wire transfer to the bank account you gave at registration. Clause 24.8 then gives MultiLP five business days, and on the PAMM side your money keeps trading while the request waits.

Exit conditions1 clause flagged

The person running a strategy sets a withdrawal delay on it. Your withdrawal request then sits pending for that time, and your money keeps trading until the delay ends.

Why this matters

You can ask for your money on a good day and get less, because the request only settles once the delay runs out. MultiLP publishes no maximum for the delay a strategy owner can set.

Exhibit 11CriticalRarely seen

When the investor requests a withdrawal, the withdrawal request remains pending according to the delay time for withdrawing on the strategy and Equity continues to be calculated until the delay time ends
Quoted in Manual
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Buried at section 35 of 47 in the Manual, 74% of the way through.

Our readingA withdrawal delay set by another customer, rather than by the broker, is unusual in a retail product. The investor carries market risk through a waiting period that another person chose.

A frozen MultiLP account is charged 5 USD a month until the balance is gone

Clause 21.2 of the Strategy Provider Agreement lets MultiLP freeze an account if it thinks your documents are inadequate. That frozen account is charged 5 USD a month, or the balance if the balance is lower, until you send what is missing. Clause 7.9 of the client agreement separately makes you pay a fee for a copy of your own personal data.

Document checks2 clauses flagged

If MultiLP decides your documents are not adequate, it can freeze your account. Clause 21.2 of the Strategy Provider Agreement then charges 5 USD a month, or your balance if that is lower, until you send what is missing.

Why this matters

Your money is frozen and the fee is eating it at the same time. The contract sets no deadline for MultiLP to tell you which document it wants.

Exhibit 19CriticalRarely seen$5

The Company may at its discretion proceed to freeze the account of the client if it considers that documents received are not adequate and the client fails to provide the documents within the deadlines advised by the Company. In this case the account of the client will be charged a handling fee of $5 per month or the balance of the account whichever lower until the client provides the Company with the missing information.
Clause 21.2 in Strategy Provider Agreement, p.18
Read from the broker's site on Open the reference

Buried at section 139 of 163 in the Strategy Provider Agreement, 85% of the way through.

Our readingCharging a client for the privilege of having their own account frozen is unusual. The wording caps each charge at the remaining balance rather than at any total, so it runs until nothing is left.

Asking MultiLP for the personal information it holds on you costs money. Clause 7.9 makes the copy conditional on you paying a fee, and no amount is stated.

Why this matters

MultiLP can also market to you by post, phone and SMS, and strategy providers agree to cold calls and automatic calls. No privacy policy is published to set a limit on any of it.

Exhibit 20NoticeHarder than usual

If the Client is an individual, the Company is obliged to supply the Client, on request, with a copy of personal data which it holds about the Client (if any), provided that the Client pays a fee.
Clause 7.9 in CFDs Client Agreement, p.7
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Buried at section 144 of 163 in the CFDs Client Agreement, 88% of the way through.

Money MultiLP calls segregated can be pledged to someone else

Clause 26.1 says your money is segregated and cannot be used in MultiLP's business. Clause 21.6 gives MultiLP the right to pledge, repledge, hypothecate or invest the property it holds for you. Clause 26.8 then says MultiLP accepts no liability if that money is lost, and clause 39.1 confirms it can be the counterparty to your trade.

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.

Client money2 clauses flagged

Your money is segregated and cannot be used in MultiLP's business, says clause 26.1. Clause 21.6 then lets MultiLP pledge, repledge or invest the property it is holding for you.

Why this matters

If the firm holding that money fails, clause 26.8 leaves you an unsecured claim and MultiLP accepts no liability for the loss. Clause 26.9 freezes your funds whenever MultiLP's own bank account is frozen.

Exhibit 12CriticalRarely seen

This means that Client funds will be segregated from the Company’s own money and cannot be used in the course of its business.
Clause 26.1 in CFDs Client Agreement, p.24
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Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must hold retail client money in segregated accounts and may not pledge it as security for their own obligations. MultiLP's contract contains both the promise of segregation and the right to pledge the same property.

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

Our readingThe right to pledge a client's assets to a third party belongs to prime brokerage for professional clients. Here it sits a few sections away from a promise that the same money is kept separate and untouched.

The contract gives two answers about who is on the other side of your trade. Clause 5.3 calls MultiLP an agent passing your order to someone else, and clause 39.1 says it can be your counterparty holding the opposite position.

Why this matters

When MultiLP is the counterparty, your loss is its gain. Clause 39.2 adds that it does not have to show you the prices it was quoted by anyone else.

Exhibit 13WarningStandard wording

In relation to any Transaction, the Company acts as an agent (whereby some other third party will be the execution venue).
Clause 5.3 in CFDs Client Agreement, p.6
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The page that sets MultiLP's charges is not on MultiLP's website

Clause 2.1 makes a Trading Conditions page part of your agreement and prints its address, and that page is not there. Clause 25.1 lets MultiLP raise transfer fees to any amount it believes necessary, with no notice and no consent. Clause 24.43 lets it reclaim every fee it had waived if it decides you abused the 0.00% transfers.

Cost disclosure3 clauses flagged

MultiLP can raise the deposit and withdrawal fees shown on its funding page whenever it likes. Clause 25.1 says it needs no reason, no notice to you and no consent from you.

Why this matters

The fee you checked before depositing is not the fee you pay on the way out. Clause 24.16 also lets MultiLP pass on any bank or card charge and take it from your balance without asking.

Exhibit 16WarningHarder than usual

The Client acknowledges and confirms that the Company may, at its own discretion and at any time and/or for whatsoever reason and/or without any prior notification to the client and/or without the prior consent of the client, to increase the amount of transfer fees which is demonstrated at the Company’s Website-Trading Accounts-Account Funding page to any other amount the Company believes necessary.
Clause 25.1 in CFDs Client Agreement, p.24
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  • Worse together with Exhibit 18MultiLP can change the fees at will, and the page the contract says sets them is not published.

MultiLP advertises 0.00% company fees on wire and card transfers. Clause 24.43 lets it decide you abused that benefit and then deduct every waived transfer fee from your account.

Why this matters

Abuse is not defined anywhere in the contract, and the same clause lets MultiLP close your accounts over it. Your currency conversions are separately done at a rate MultiLP's own bank sets.

Exhibit 17WarningRarely seen

The Client agrees that the Company may, at its own discretion and at any time and/or when in its sole opinion an abuse of the 0.00% transfer fees benefit has occurred, request and/or deduct any and/or all the transfer fee amounts from the client’s account(s) and/or close the client’s account(s) and/or take any other action may consider necessary, as a compensation for the said abuse.
Clause 24.43 in CFDs Client Agreement, p.23
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Our readingA waived fee is normally gone for good. This clause keeps the whole amount recoverable at any time, on MultiLP's own view of whether you used the free transfers too freely.

The client agreement says your contract includes the clauses on MultiLP's Trading Conditions page, and prints the address of that page. The page is not on MultiLP's website.

Why this matters

Spreads, swaps, lot sizes and margin all sit in those Contract Specifications, and clause 23.1 puts MultiLP's costs there too. Spread tables appear elsewhere on the site, but the page your contract actually incorporates is not there to read.

Exhibit 18WarningRarely seen

This CFDs Client Agreement shall include all clauses contained in the Company’s Website under the title ‘Trading Conditions’ as amended from time to time. (https://www.multilp.com/about/trading-conditions.html).
Clause 2.1 in CFDs Client Agreement, p.1
Read from the broker's site on Archived copyOpen the reference

Our readingBuilding a web page into a contract by reference is common. Naming one that does not exist leaves the commercial terms undefined while the clause still binds you to them.

Profit made with MultiLP credit can be detached from your account

Clause 23.9 gives MultiLP the absolute right to take any equity generated by credit it granted you. MultiLP publishes no bonus or credit terms, so nothing tells you what counts as credit or how the sum is worked out. The clause sits in the costs section of the client agreement, not in any document about promotions.

Credit terms1 clause flagged

Where your equity came from credit MultiLP granted you, clause 23.9 gives it the absolute right to detach and take that equity. MultiLP publishes no credit or bonus terms at all.

Why this matters

Nothing tells you what counts as credit, how the share is worked out, or when it can be taken. The clause sits in the costs section of the client agreement, not in any document about promotions.

Exhibit 10WarningHarder than usual

The Client acknowledges and agrees that the Company has the absolute right to detach and acquire any equity owned by the Client when such equity is generated by a credit granted by the Company to the Client.
Clause 23.9 in CFDs Client Agreement, p.21
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MultiLP can rewrite the contract on two business days of notice

Clause 41.2 lets MultiLP amend the agreement with two business days of written notice. A notice posted on its own webpage counts as received one hour later under clause 27.3. Clause 41.1 then treats your next trade as acceptance, and clause 34.4 lets MultiLP cut your leverage without notice at all.

Unilateral change2 clauses flagged

MultiLP can change the agreement on two business days of notice, under clause 41.2. A notice posted on its own webpage counts as received by you one hour later.

Why this matters

Your next trade is treated as acceptance of the new terms under clause 41.1. Nobody has to email you, so the only way to catch a change is to keep reading the website.

Exhibit 14WarningHarder than usual2 working days

Unless provided differently elsewhere in this Customer Agreement, the Company has the right to amend the terms of the Agreement at any time giving to the Client at least two Business Days Written Notice prior to such changes.
Clause 41.2 in CFDs Client Agreement, p.35
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  • Worse together with Exhibit 16Terms can change on two days of notice, and the fees can change with no notice at all.

MultiLP can change your leverage at any time without telling you. Clause 34.4 lets it do that where it decides you traded to exploit margin and raise your return, which is what leverage is for.

Why this matters

Less leverage mid-position means more margin, and clause 10.5 closes your positions once equity falls under 20% of the margin needed. The contract also states two different default leverage levels, one clause apart.

Exhibit 15WarningHarder than usual20%

The Company, in its sole discretion, reserves the right to change the leverage applied to client’s accounts, provided that, at the time of the conclusion of the transaction(s), the Client has deliberately and/or systematically based on his trading strategy or other probable behaviour with an attempt to exploit the ability to use margin for trading, with the aim to increase the potential return of an investment
Clause 34.4 in CFDs Client Agreement, p.29
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MultiLP gives you 24 hours to object and makes you pay its lawyers

Clause 28.3 gives you 24 hours to report a trading error. Clause 12.4 treats a trade confirmation as agreed after two business days of silence, and clause 16.4 bars any legal action three months after the cause arose. If you do bring a claim, clause 37.5 makes you pay MultiLP's cost of defending it.

Complaint deadlines1 clause flagged

Call recordings belong to MultiLP and count as conclusive evidence of what you instructed, under clause 7.11. Clause 9.16 says those recordings are kept for ten days.

Why this matters

The recording that would prove your version is gone before the three month claim window is a tenth of the way through. Nothing in the contract gives you a copy.

Exhibit 7WarningHarder than usual10 days

all telephone calls placed through the Dealing Desk are recorded by our recording system; records are kept for ten days.
Clause 9.16 in CFDs Client Agreement, p.10
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MultiLP's Investor Agreement sends disputes to a country it never names

Clause 7.8 of MultiLP's Investor Agreement gives exclusive jurisdiction to the courts of the COUNTRY, in capitals, with no country filled in. Clause 7.6 of the same document says Kuwait law governs it. You also agree in that clause never to appeal against a venue the document does not identify.

Forum1 clause flagged

MultiLP's Investor Agreement gives exclusive jurisdiction to the courts of the COUNTRY, in capital letters, with no country filled in. Clause 7.6 of the same document says Kuwait law governs it.

Why this matters

You agree never to appeal against the venue, under a clause that does not say where the venue is. If you had to enforce anything, nothing in the document tells you which court to go to.

Exhibit 21WarningRarely seen

The Client unconditionally agrees that the courts of the COUNTRY have the right of exclusive jurisdiction, which defines any procedural actions with regard to this Agreement; obeys to the jurisdiction of the courts of the COUNTRY; refuses from any appeal in respect of judicial proceedings in any of such courts
Clause 7.8 in Investor Agreement, p.6
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Buried at section 52 of 57 in the Investor Agreement, 91% of the way through.

Our readingAn unfilled placeholder left in a live contract is a drafting failure rather than a term. It leaves the one clause that settles where you could sue pointing at nothing.

Three documents give three descriptions of the company you contract with

MultiLP's client agreement names MultiLP LTD with registered number 216524. Its website names MULTILP Direct Trading Company in Currencies, Metals, and Commodities with registration number 405484. The documents name the Kuwait Ministry of Commerce and Industry and the Chamber of Commerce as the supervisors, no compensation scheme appears anywhere, and the complaints policy the contract points to is not published.

Counterparty2 clauses flagged

Your CFD contract is with MultiLP LTD, registered number 216524. The website says you are dealing with MULTILP Direct Trading Company in Currencies, Metals, and Commodities, registration number 405484.

Why this matters

You cannot tell from the documents which company holds your money or which one you would have to sue. The Strategy Provider Agreement gives the second number again, with a different registered address.

Exhibit 22WarningHarder than usual

The Company is a regulated Investment Firm, regulated by Kuwait Ministry of Commerce and Industry م.م /26/2020 and licensed by the Chamber of Commerce and Industry with the registered number 216524.
Clause 1.2 in CFDs Client Agreement, p.1
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Our own capture of multilp.com, taken on Oct 2, 2026The claim, on About MultiLP pageVisit 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 or CySEC must name the contracting entity, its licence and its regulator in the client agreement, and must tell a retail client which compensation scheme covers them. MultiLP's documents name a commerce ministry and a chamber of commerce, and no compensation scheme appears anywhere.

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

MultiLP's contract tells you to follow a Complaint Handling Policy available on its website. No such policy is there, and neither is a risk disclosure nor a privacy policy.

Why this matters

The footer link marked Risk Disclosure takes you back to the page listing four other documents. The cookie notice asks you to agree to a Privacy Policy that MultiLP does not publish.

Exhibit 23WarningHarder than usual

If the Client wishes to report an error or a complaint, he must send an email to info@multilp.com, or call the Company directly through the announced phone numbers on the Company’s Website and follow the Complaint Handling Policy available at the Company’s Website.
Clause 28.1 in CFDs Client Agreement, p.26
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Buried at section 143 of 163 in the CFDs Client Agreement, 88% of the way through.

Where the marketing and the contract disagree

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

01

The website says you cannot lose more than you deposit, and clause 10.9 makes you liable for the shortfall.

Said in public, in English

At MultiLP, we offer negative balance protection to ensure a secure trading experience. This feature prevents your account from going into negative balance, protecting you from losing more than your invested amount.

Negative Balance Protection page, English site

In the contract · clause 10.9

all pending orders for the stopped-out account will be deleted, and any deficit that may result after liquidation will be considered as the Client’s liability and the Company has the right to claim such deficits.

02

MultiLP makes the promise in Arabic and says in English that nothing it writes in Arabic has any legal effect.

Said in public, in Arabic

في مالتي ال بي نحرص على حماية رصيدك من الوصول إلى قيمة سلبية مما يضمن لك تجربة تداول آمنة. توفرلك هذه الميزة درع حماية ضد انخفاض حسابك إلى رصيد سلبي مما يمنعك من خسارة أكثر من المبلغ الذي استثمرته.

Word for word in English: At MultiLP we take care to protect your balance from reaching a negative value, which guarantees you a safe trading experience. This feature gives you a shield of protection against your account dropping to a negative balance, which prevents you from losing more than the amount you invested.

Negative balance protection page, Arabic site

In the contract · clause 29.1

Translation or information provided in languages other than English is for informational purposes only and does not bind the Company or have any legal effect whatsoever, the Company having no responsibility or liability regarding the correctness of the information therein.

03

The page sells a card withdrawal inside 24 hours, and the contract pays only to a bank account by wire.

Said in public, in English

The amount is transferred within 24 hours of executing the transaction.

MultiLP Card withdrawal row on the Deposit and Withdrawal page

In the contract · clause 24.26

The Client agrees that withdrawals will only be credited by wire transfer to the client’s personal bank account that was submitted in the Customer Account Agreement or submitted through the new account registration form on the MultiLP website.

04

Arabic readers get the same card withdrawal promise that the English contract does not allow.

Said in public, in Arabic

يتم تحويل المبلغ خلال 24 ساعة من تنفيذ المعاملة.

Word for word in English: The amount is transferred within 24 hours of carrying out the transaction.

MultiLP Card withdrawal row on the Arabic deposit and withdrawal page

In the contract · clause 24.26

The Client agrees that withdrawals will only be credited by wire transfer to the client’s personal bank account that was submitted in the Customer Account Agreement or submitted through the new account registration form on the MultiLP website.

05

The FAQ tells you not to worry about your money, and clause 26.8 says MultiLP is not liable if it is lost.

Said in public, in English

You do not have to worry about your money with MultiLP, as we protect it by adhering to top-of-the-line financial and banking standards for a unique trading experience

FAQ answer to the question How are my funds protected?

In the contract · clause 26.8

the Client will be exposed to the risk that the money received by the Company from the third party is insufficient to satisfy the claims of the Client with claims in respect of the relevant account. The Company does not accept any liability or responsibility for any resulting losses.

06

The website and the contract name different companies with different registration numbers.

Said in public, in English

MULTILP Direct Trading Company in Currencies, Metals, and Commodities is licensed by the Kuwaiti Ministry of Commerce and Industry to offer trading in Forex, Contracts for Difference (CFDs), precious metals, and commodities under license number 2020/26/L L and registration number 405484.

About MultiLP page

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

In the contract · clause 1.2

The Company is a regulated Investment Firm, regulated by Kuwait Ministry of Commerce and Industry م.م /26/2020 and licensed by the Chamber of Commerce and Industry with the registered number 216524.

The documents this reading is based on

6 files, all published by MULTILP. 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 MULTILP publishes.

How this reading was done

Every clause above was read out of a document MULTILP publishes itself

This reading was published on .

Documents
6 of 6downloaded from the broker's site, and 6 read in full
Pages opened
24pages walked to find those documents, footer links included
Older copies
1earlier versions downloaded, 1 identical to the copy we hold by fingerprint
Marketing pages
11public pages set against what the contract says
Languages
AR vs ENthe language it advertises in, against the language it contracts in
Position measured
6clauses whose position was counted: which numbered section of the document holds them, out of how many

Who the contract is with

MultiLP LTD

The CFD contract is between you and MultiLP LTD, registered number 216524, which clause 1.2 says is regulated by the Kuwait Ministry of Commerce and Industry and licensed by the Chamber of Commerce and Industry. The website names a different company: MULTILP Direct Trading Company in Currencies, Metals, and Commodities, licence 2020/26/L L, registration number 405484. The Strategy Provider Agreement and the Investor Agreement name a third form, MultiLP with registration number 405484, at a different registered address in Sharq. The bodies named as supervisors are a commerce ministry and a chamber of commerce. No financial regulator and no compensation scheme appears in any of the four documents.

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

MultiLP publishes all four of its contracts as free PDFs on one page, reachable from both the English and Arabic sites, with no login. Clause 24.8 commits to paying a withdrawal within five business days, and nothing in the contract gives MultiLP a general right to refuse one. Clause 24.24 and clause 24.34 set MultiLP's own fees on wire and card transfers at 0.00%. Clause 9.5 only lets MultiLP take back past profits where it can document the price abuse it alleges. Clause 39.1 sets out plainly that MultiLP can be the counterparty to your trade and may hold the opposite position, which many brokers leave unsaid. Clause 14.12 also stops the dormancy fee at zero, so it cannot push your account into debt.

None of the four contracts carries a version number or a date, so we cannot tell when any clause was last changed. Only the Manual exists in an earlier copy, from May 2026, and it is identical to the file published today. MultiLP publishes no risk disclosure, no privacy policy and no complaints policy, so there was nothing to read on those subjects. The client agreement also makes a Trading Conditions page part of your contract and gives its address, and that page is not on MultiLP's site, so part of what you agree to could not be read by anyone. The minimum deposit differs between the funding page, which says 50 USD for every method, and the FAQ, which says 10 USD for an account type MultiLP does not offer. We did not see inside the client portal, so any terms shown only after you register are outside this reading.

How to check any of this yourself

Every quote above links to the MULTILP 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 MULTILP 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 MULTILP 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 2, 2026.

If you represent MULTILP 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 MULTILP. Whether its licence is real and current is a separate check on the broker profile.

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