MEX Europe Ltd., a subsidiary of MultiBank Group, a broker providing retail Forex and CFD trading services, has been granted a Cyprus Investment Firm (CIF) status by the CySEC.
According to the documents, the license was issued on May 22, 2023.
MEX Europe Ltd. will provide forex services to clients in the European Union through mexeurope.com.
The company's physical office will be located in Limassol, Cyprus. There, clients will be able to receive assistance with account opening, deposits, and other service queries, FNG said.
MultiBank Group Chairman Naser Taher said, "We are immensely proud of obtaining the CySEC license, reflecting our dedication to continuously developing the world’s leading regulated financial products and services ecosystem."
He added: "MultiBank Group has been operating in the financial industry with an unblemished track record for over 20 years, and as such, it has built a reputation for providing the highest level of fund security, first-class financial services, award-winning technology, and products that have made MultiBank the world’s most widely used financial derivatives broker with a loyal customer base of over 1,000,000 users."
MultiBank is confident that the opening of MEX Europe and its license are particularly significant at a time when the MultiBank Group intends to go public in 2023 with innovative projects. The broker is developing a unique ECN interbank trading platform for institutional and retail clients, an Australian-regulated digital asset exchange, and an app for social and copy trading.
It is also preparing to launch a global concept of digital payments that aims to create a unique ecosystem with different assets and various forms of financing.
MEX Europe will join the list of other financial institutions within the MultiBank Group that already hold licenses from ASIC, AUSTRAC, BaFin, FMA, FSC, CIMA, TFG, and VFSC. Thus, with licenses from 12 regulators, MultiBank Group provides a safe trading environment for its clients.
Previously, we reported that broker XM participated in Crypto Expo Asia 2023.
