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MorganStern Review: Learn More About This Broker
Table of Content
MorganStern broker is a freshly registered broker in the UK, allegedly. They exist since 2022 under the name MorganStern LLC. According to their website, they already have a trading capital of $275 million. Yet, they don’t reveal any phone number to reach out to.
As a UK-based broker, they should comply with the strictest regulations. But if they really meet those requirements and if you can trust this broker, read our MorganStern review.
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Regulation of MorganStern and Funds Security
With the headquarters in the UK, they need to have an FCA license. Therefore, we checked their database, but the results were not good. There are no records of MorganStern broker there. But not only in their register but also in the register of BaFin and ASIC. Those are a couple of the most reliable Tier 1 regulatory bodies.
With such licenses, clients can trade with huge comfort and many fund protection measures. From segregated deposit bank account to negative balance protection and compensation funds. For instance, brokers with FCA provide clients up to 85.000 GBP of the compensation fund, per trader.
Unfortunately, there are no MorganStern broker reviews that can give us first-person insight into their activities. But it’s just a matter of time before the truth will see the light of day.
Review of MorganStern Trading Software
At least we were expecting some decent trading software from this broker. The UK has very high standards when it comes to trading. But very quickly we got disappointed. This broker advertises Meta Trader 4 and Meta Trader 5. But once you complete registration, you don’t get anything more than a basic web trader.
It’s just designed to look like an MT4 platform, but functionalities are completely excluded. This trading software doesn’t provide algorithmic trading, social, or copy trading. Besides that, it has only a few charting options, basic trading tools, an economic calendar, and news.
In general, the MorganStern scam broker is already exposed. They are misleading traders and we can expect very shortly regulators to start issuing warnings. If they are openly lying about the trading platform, you can’t expect anything more when it comes to money.
What Account Types Does MorganStern Offer?
Many traders are motivated to deposit more money with attractive trading conditions. But the MorganStern broker scam works differently. They shamelessly require from traders insane amounts of money in exchange for nothing. Mainly benefits of higher deposits are trading sessions and education. But nothing regarding monetary benefits.
- Classic – $5.000
- Bronze – $25.000
- Gold – $100.000
- VIP – $1.000.000
A VIP account gets you up to 50 sessions per week, VIP webinars, 10 protected trades per month and VIP insights. Allegedly spreads start from 0 pips and leverage rises to 1:100. Since this is a non-licensed scam broker, we can’t trust anything on their website.
What Can Be Traded on MorganStern Market?
MorganStern scam broker has a wide range of instruments available. Traders can choose from:
- Forex – USD/CAD, AUD/NZD, EUR/SEK
- Commodities – crude oil, gold, platinum
- Indices – S&P 500, Nikkei 225, SPA 35
- Shares – Tesla, Microsoft, Coca-Cola
- Cryptocurrencies – BNB, USDT, DASH
If the broker is not trusted not even 1000 assets can make a difference. Especially with these risky conditions that MorganStern scam broker offers.
Important to mention is that the broker doesn’t offer any swap-free accounts. With this in mind, we are just wondering how much it would cost anyone to trade here. But if you lose everything that’s the biggest cost you can have. And it’s not worth it.
MorganStern Deposit and Withdrawal Process
Another dealbreaker with this scam broker is the non-existent deposit and withdrawal policy. Traders don’t have the option to see what methods they can use. Not to mention additional fees. Many brokers use that as a scamming tactic. Once you want to withdraw the funds they will make up some fees. That’s one of the biggest downsides of non-regulated brokers.
What we always suggest is to use a debit/credit card as a funding method. In case anything goes wrong, you can file a chargeback. Our fund recovery team is at your disposal at any time to assist you with that process.
Since there is no withdrawal policy, there is no information available about processing time. Therefore, if you would like to throw money away this is the right place. Often scam brokers like MorganStern use crypto transfers as their primary funding option. Primarily due to a lack of traceability and high encryption.
How Do I Get a Refund If I Was Swindled by MorganStern?
Our specialized team can advise you step by step on how to get your funds back. Don’t hesitate because they didn’t hesitate to take hard-earned money from you. Let us know first what is your experience with this bogus swindler is. The goal is to protect traders from such illicit brokers.
Whether you were using a debit/credit card or even a crypto wallet, you can trace your money. Our specialized team can even trace cryptos with CipherTrace. That’s a tool that not so many experts have. It allows them to find the original destination of the cryptocurrency transfer. Which is mostly some legitimate cryptocurrency exchange.
Once you do that, you can file a chargeback and start the recovery process. Don’t wait too long because this process is time limited. Book your first consultation already for today! Get back to us!
- Freshly registered non-licensed broker.
- Low-trusted index website.
- Uncompetitive trading conditions.
- Only web-based platform available.
- No fund protection measures are available.
FAQs About MorganStern Broker
Is MorganStern A Good Broker?
No. They don’t have any credibility so far or any licenses for trading.
What Are The Funding Methods For MorganStern?
The broker doesn’t reveal any of the funding methods on their website.
Does MorganStern Offer a Demo Account?
To sum it up, no. Traders don’t have any risk-free option to test their services.