Recently, MEXGroup has sparked numerous controversies and accusations related to its non-transparent operations and signs of fraudulent activities. The following information, gathered from the Info Finance stock exchange research tool, will shed light on the suspicious activities and risks investors face when trading with this platform.

Constant Name Changes

MEXGroup, initially known as IKON, has changed its name several times in an effort to build trust with investors. After operating as IKON for a while, the platform rebranded to MEXGroup and later to Multibank—a name easily mistaken for an actual bank. However, the fraudulent nature of MEXGroup could not remain hidden for long. Many investors have accused this platform of fraudulent activities and embezzling customer funds.

Operating licenses are a crucial factor in assessing the credibility of a trading platform. MEXGroup claims to hold licenses from reputable financial authorities such as ASIC, BaFin, CNMV, FSC, FMA, and RAK. However, experts and reliable financial websites have revealed that MEXGroup is currently not regulated by any financial organization. This raises serious doubts about the legality of their business operations and their ability to protect investor rights.

MEXGroup didn't just stop at changing its name from IKON to Multibank to gain trust. They used the name Multibank, similar to a real bank, to mislead investors. Yet, their fraudulent activities were quickly exposed. Investors consistently reported MEXGroup for embezzling funds and delaying withdrawals. Even employees of the company in Vietnam have spoken out against the company's fraudulent actions.

Past Fraudulent Activities

MEXGroup has a history of fraudulent activities dating back to when it operated under the name MEXGroup. They intervened in customer trades, deleted winning orders, and delayed withdrawals. Many investors reported losing money without clear reasons, with their trades being deleted without reasonable explanations. A typical example is an investor who earned profits up to $2,821.24 and $3,900, only to have these trades deleted with the reason, "trades less than 120s."

MEXGroup engaged in many fraudulent marketing tricks, including fake competitions with non-existent prizes like luxury cars and cash. They also opened virtual offices in the United States and registered operations under the guise of a computer software company in China. All these activities were aimed at defrauding customers and evading state taxes.

One of MEXGroup's common fraudulent tactics is slowing down orders and deleting winning trades. When investors lose money due to delayed orders, the funds go to MEXGroup. If investors win, their trades can be deleted with unreasonable explanations like "charts have many errors." This ensures that MEXGroup always profits regardless of the trading results.

View detailed information about MEXGroup's past fraudulent activities at Unveiling the opaque financial portrait of Multibank (infofinance.com)

Info Finance Warns Investors

Based on information from Info Finance, it is evident that MEXGroup is a trading platform with many signs of fraud and non-transparency. Investors should exercise extreme caution and thoroughly consider before trading with this platform. Researching other reputable trading platforms and diversifying investment portfolios is the best way to protect assets and interests.

Investors should always remember that transparency and credibility are the most important factors in the financial world. Do not let marketing tricks and misleading names blind you; always stay vigilant and cautious in every investment decision.

If you have any complaints about the trading platform, follow these steps to report to Info Finance for timely support:

1. Visit the official Info Finance website https://infofinance.com/
2. Click on the "Report Broker" section on the homepage.
3. Click on "Send Report" to start reporting the issues you are facing.

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