MultiBank.io launches “Panic Sell” button for crypto traders
“During tumultuous market conditions, every second counts. Our ‘Panic Sell’ feature stems from a personal pain point I faced in my trading journey.”
MultiBank.io, the cryptocurrency exchange subsidiary of the MultiBank Group, a global leader in financial derivatives, has announced the launch of an innovative feature dubbed “Panic Sell.” The introduction of this new tool underscores the platform’s ongoing dedication to elevating the trading experience for its users.
The “Panic Sell” functionality aims to offer traders the expedience of swiftly converting all their positions into a particular cryptocurrency or even fiat currency, all at the click of a button. This allows users to wire their funds to their bank accounts almost immediately. The feature reflects a nuanced understanding of the urgent, time-sensitive nature that often characterizes trading activities.
“During tumultuous market conditions, every second counts”
Zak Taher, CEO of MultiBank.io, elaborated on the utility and origins of the “Panic Sell” feature. “During tumultuous market conditions, every second counts. Our ‘Panic Sell’ feature stems from a personal pain point I faced in my trading journey,” he said. “It’s not just a tool; it’s our commitment to empower every MultiBank.io user with swift decision-making capabilities when they need it most. We are at the outset of an exciting journey, armed with a comprehensive roadmap of innovative features poised to serve as invaluable assets for the traders of tomorrow.”
The MultiBank Group, to which MultiBank.io belongs, is globally acclaimed for its transparent business practices and stringent security measures for client funds. The group boasts regulatory licenses across five continents and an impressive daily trading volume exceeding $12.1 billion, earning it the title of the “most regulated financial broker worldwide.”
MultiBank.io is registered with the Australian Securities and Investments Commission (ASIC) and is the cryptocurrency exchange arm of the MultiBank Group. The group has a paid-up capital of over $322 million and a daily average volume of $12.1 billion. With a global footprint that stretches across five continents and encompasses more than 25 offices, MultiBank Group has garnered over 13 regulatory licenses, solidifying its standing as the world’s leading online financial derivatives institution.
MultiBank Group secured CySEC license
MultiBank Group’s latest annual financial statement revealed an astounding 48% increase in revenue, soaring from US$ 188,636,721 in 2021 to US$ 279,523,140 in 2022. Furthermore, MultiBank Group reported a substantial increase of 35% in net income, climbing from US$ 132,937,545 in 2021 to US$ 180,013,709 in 2022 marking another record-breaking year for the global powerhouse.
It was in July that MultiBank Group announced it had been granted a license by the Cyprus Securities and Exchange Commission (CySEC) through its EU-based subsidiary MEX Europe Ltd. The CySEC license authorizes the FX & CFD brokerage firm to provide services to clients in full compliance with the applicable laws in European markets.
Other ground-breaking projects by MultiBank include an inter-bank ECN trading platform for financial institutions and banks, a digital assets exchange regulated in Australia, an enhanced social trading application, and a global digital payments processor.
Besides the newly obtained CySEC license, MultiBank Group secured licenses from SCA of the UAE and MAS of Singapore in October 2022. The brokerage firm is also authorized by ASIC, AUSTRAC, BaFin, FMA, FSC, CIMA, TFG, and VFSC.