If you look closer at the company’s presentation, you will realize a lot of discrepancies. Firstly, the company presents its results from 2020. Also, they mention being founded in 2016. Yet, their domain was founded in late 2022.
Secondly, the founders of this firm are also running another offshore brand, PrimeXBT. In general, with pretty much the same conditions. Therefore, to find out if you can trust these, read this Multivest review carefully.
| Regulated By: | No Regulations |
| Is This Company Safe? | No |
| Known Websites: | |
| Have Warnings From: | N/A |
| Registered In: | Saint Vincent and Grenadines |
| Operating Since: | 2022 |
| Trading Platforms: | Web trader |
| Maximum Leverage: | 1:1000 |
| Minimum Deposit: | 0.1 BTC |
| Deposit Bonus: | N/A |
| Trading Assets: | Cryptos, forex, indices, commodities |
| Free Demo Account: | Not Available |
| How To Withdraw From This Company? | Withdrawing funds from unregulated offshore exchanges always brings some surprises. Mostly uncomfortable ones. If that happens, contact our refund specialists for advice. |
Legal Info: Is Multivest Legit Or A Scam?
With proven lies about the registration date, it’s hard to trust this firm from the start. With one entity registered in Seychelles and the other one in Saint Vincent and the Grenadines, there’s too much to worry about. Yet, if the company has any top-tier license, all that would be meaningless. For this reason, we were checking databases of FCA, BaFin, ASIC, CFTC, and a few more European regulators.
Sadly, none of the mentioned institutions have issued a license to the Multivest broker. They don’t even have a license from the Financial Services Authority of Seychelles. Therefore, you already have a hint of where this service is going.
Who Are Multivest’s Victims?
Since there are no relevant Multivest reviews, it’s hard to determine what other traders think about them. Therefore, we encourage you to leave your comment below and be the first.
But if you are coming from any of the most targeted countries, keep your eyes wide open. Those are:
- United States
- Brazil
- Kenya
- South Africa
- Philippines
Leverage, Commissions, Spreads, Fees and Taxes
As can be seen, the Multivest platform has quite interesting trading costs. One of the known details is the leverage of up to 1:1000 and spreads starting from 0 pips. However, that could mean 0.1 pip and 10 pips.
On top of that, traders can expect commissions of up to 0.05%. With such low costs, how do they make money then?
Bonuses
On the positive side, Multivest Forex broker offers no welcome bonus deals. Even though that’s one of the oldest tricks in the book to extort more money from customers. In any case, to find out how those can trick you, read our Gamma Capitals review.
Multivest Trading Features
One of the worrying signs is that the firm claims to have a multi-award-winning platform. Yet, access to it is not allowed, and neither is access to the Multivest demo account.
Yet, they advertise some insane numbers about platform execution speed and also copy trading features. But none of these can’t be seen before registration.
Trading Platforms Available
If the company’s platform was any close to reliable, they would leave it transparent. Yet, they don’t. This might make any trader wonder why that is so. But very often, the clue is quite logical. The company doesn’t even offer what they claim.
Not to mention that the company’s platform is web-based, which is known for its easy manipulation option.
Available Trading Assets
Another downside of Multivest broker is its instrument availability. Fairly, it’s quite poor, and it would be a shame to compare them to any broker. Especially with the top-tier ones.
Anyway, the offer consists of:
- Forex (51 pairs) – USD/JPY, AUD/NZD
- CFDs (14 assets) – Crude oil, Dow Jones
- Cryptos (7 coins) – BTC, LTC, ETH
Account Types
Generally, the company doesn’t have many different account types. Instead, they offer only two with pretty much the same conditions except for the leverage.
Thus, for a “Margin” trading account, traders don’t have a clue how much they have to deposit. Yet, for the “Covesting” account, they will have to put aside 0.1 BTC.
Mobile Trading App
One of the biggest downsides of unregulated brokers is a lack of credibility. That would be changed if the company offered trusted third-party mobile apps. Yet, they don’t. But to understand the importance of such apps, read our SunSwap review.
Demo Account
To avoid any Multivest withdrawal surprises, traders should have a demo account option. This way, they can make sure all features work properly and that fees are close to the ones advertised.
However, you should bear in mind that demo accounts can be manipulated as well. In a nutshell, it all becomes worthless without regulations.
Education
The company’s advertised values are client-oriented approaches and interests. Thus, the company doesn’t offer any educational program whatsoever. Therefore, if you are a beginner, prepare for failure with this brokerage.
Multivest Withdrawal
The biggest sign of a Multivest scam is the payment methods available. As can be seen, the company is forcing crypto transfers due to their anonymity and irreversibility. It would be the same as if you handled the money to a stranger on the street.
On top of that, the company does not offer a transparent withdrawal policy or fees. Consequently, they have prepared everything for a shameless scam. It’s up to you to decide if you will bite it or not.
Customer Support
Apparently, the company offers 24/7 customer service. Thus, only e-mail is available as the contact option. With this in mind, know that Multivest scam broker has plenty of time to make up any reason not to reply to you. But even if they do, it won’t be helpful anyway.
Key Information To Consider About Multivest
The most important thing about this company is its missing regulations. With multiple offshore registered entities, it’s hard to believe they were registered for a legitimate business. After all, if they were, they would obtain a license.
In addition to that, there are quite shady fees and platforms offered. This brings enormous risk to the calculation. In any case, if you experience any withdrawal problems with this broker, don’t hesitate to contact us.
FAQ Section
What is Multivest?
Multivest is an offshore registered FX and CFD trading firm that has been operating since 2022 and not 2016 as they claim. Not with the multivest.io brand.
Is Multivest Regulated?
No. The company doesn’t have any licenses, especially not the top-tier ones like FCA, ASIC or BaFin.
What is CipherTrace?
A tool helping institutions prevent illegal crypto transfers and also helps with refund procedures. To get more details and information on how it can help you, contact us.
