Multi Wire Group Review – Should You Trust This Broker?

Trading in the investment and securities market has always been a risky endeavor, and therefore, these activities have been strictly regulated by government organizations. However, with the emergence and spread of cryptocurrency, public access to trading has increased significantly, along with the number of scammers pretending to be legitimate brokers online. That’s why it’s crucial to thoroughly examine what brokers offer and who they are accountable to. In this Multi Wire Group review, we’ll explore these aspects.

Is Multi Wire Group a Trusted Platform?

Multi Wire Group promises a complete financial ecosystem for trading cryptocurrencies, futures, stocks, commodities, raw materials, and more. They claim to offer a wide range of tools for analysis and trading, including those powered by neural networks, especially aimed at helping beginners.

This doesn’t come cheap — even the most basic account requires a substantial deposit. So, it’s important to verify if this company is trustworthy. At first glance, everything seems in order: there is a section detailing regulation, which states that the company is governed by the Crypto Conduct Authority.

However, one must question what kind of organization the Crypto Conduct Authority is and which country or international body it answers to. Unfortunately, it is a pseudo-regulator that is not directly accountable to any government.

The mere fact that the company is licensed by a fake organization raises red flags. Further research into the Crypto Conduct Authority reveals an April 2024 announcement from FSMA — the Financial Services and Market Authority, Belgium’s official government agency. This announcement warns of illegal activities by a number of fraudulent organizations involved in scamming investors or facilitating such schemes. Among the listed organizations is the Crypto Conduct Authority. Other warnings from regulators also exist.

Thus, the license issued by the Crypto Conduct Authority holds no legal weight. Moreover, no other licenses are mentioned on the website, leading to the conclusion that Multi Wire Group is not regulated and cannot be trusted.

Concerned About Withdrawal?

Unfortunately, the website provides no details about the conditions for making deposits or withdrawing funds. There’s no information on the minimum deposit amount, maximum withdrawal limits, the payment systems used for transactions, or even the currencies accepted. There’s also no data on fees for performing transactions or withdrawing money from an account.

The only available information is the minimum deposit amounts required to activate an account and gain corresponding privileges. These deposits are quite high. The simplest account requires a deposit of €10,000, and the prices go up to half a million euros for the VIP profile. From these figures, we can assume that the primary currency used on the site is the euro.

How Long Does The Broker Work?

The informational section of the website states that the company has been operating since 2005 — 19 years in total. This is an impressive period for a broker and could be considered a sign of quality and reliability. However, checking through Whois services reveals that this is a lie. The domain was only registered in August 2024. Attention! This review belongs to InvestExpertHub.

Other Signs of Fraud

❗The broker’s website contains a large informational database on various basic trading topics. However, there are no details about what specific services and assistance the company provides, apart from mentioning individual trading signals. Even for these, there are no proofs or examples.

❗An online search yielded no reviews about this organization, which may serve as evidence of its obscurity and recent establishment — odd for a firm claiming 19 years of experience.

Multi Wire Group Review Conclusions

Collaborating with Multi Wire Group is not advisable, as this company, despite promising much, provides no proof of its reliability or competence. Dealing with them and making financial transactions is an unjustified risk.

➕None.

➖Dubious registration in an offshore zone.

➖No documents to conduct brokerage activities in several European countries.

➖The company has only been in operation for a few months.

FAQ

Brief Conditions