MorganStern Review – Dirty Tricks Exposed

MorganStern broker is one of those who hardly try to look legit. The official owner of the trading name is MorganStern LLC. With the UK address presented on the website, traders might think this is a good choice. However, looking behind the scenes discovers a shocking truth.

If you don’t trust anyone, trust the facts discovered in this latest MorganStern review.

License and Safety of Funds at MorganStern

Generally speaking, the only valid proof of the company’s legitimacy is regulation. Especially for the ones coming from strictly regulated countries. For instance, the United Kingdom. In fact, FCA (Financial Conduct Authority) requires all brokers who trade with UK citizens to have their licenses. Or at least TPR (Temporary Permission Regime) issued by the FCA as well.

However, upon research of the FCA registers there were no signs of MorganStern company. This is a first sign of a trading scam. But not to jump to conclusions too early, we checked some other databases. On our list were the most trusted Tier 1 regulators like BaFin, ASIC, CONSOB and CNMV. Yet, none of those brought any positive results about the MorganStern scam.

With this in mind, traders realize that they have zero protection with this broker. Whether trading or fund protection, it’s all fictive. Instead of risking your money here, you should check these two regulated entities: FXLeader and Freedom24.

MorganStern Trade Trading Platform

Another key sign of a trading scam is its trading platform. In fact, many MorganStern reviews discover flaws in such software. Primarily traders were reporting unexpected market changes. Which is most likely a result of market data manipulation. Instead of a trusted third-party platform like Meta Trader or cTrader, you can only use a web-based platform.

Additionally, this platform has very low reliability and way slower executions. On top of all, it doesn’t provide any advanced features that traders often use. For example, social and copy trading. With the MorganStern platform, you can only implement a limited amount of indicators and charting options. Even though the broker offers all 5 major instrument classes, the reliability of the data is questionable.

Account Types Available at MorganStern

In general, account types are created with the idea to motivate traders to deposit more money. In fact, with licensed brokers that plays a huge role. Because such brokers make money on spreads and commissions. However, with scam brokers like MorganStern, that’s just a tactic. What’s even more worrying is their minimum deposit requirement.

For a suspicious broker, this is shamelessly high. It starts at $5.000. Here is the list of their account types:

• Classic         $5.000
• Bronze          $25.000
• Gold             $100.000
• VIP               $1M

Besides higher leverage and lower spread, they don’t offer anything practically significant. On the contrary, they promote monitoring and sessions with their broker. But also trading signals and sessions with crypto experts. Luckily, the lack of regulations should make you rethink this offer.

Instead, you can check the list of some brokers that have way lower minimum requirements. Also, many of them provide micro and demo accounts. While MorganStern missed that point as well.

Deposit and Withdrawal

Important to realize is that this broker nowhere presents its funding policy. But even more importantly withdrawal policy. Actually,  we couldn’t even get the depositing methods anywhere on their website. Therefore, the only way of checking it out is through registration. But that way you would expose your personal information to the scammer.

Most likely this broker uses pressure and aggressive strategies to force you into deposits. But not safe deposits with cards, but crypto transfers. These funding methods are highly risky with unreliable forex brokers. Primarily due to their anonymity and fewer options to track them down.

Risking money with such a broker would be a bald move. Simply because they can make up anything they want. Primarily reasons not to allow any withdrawals. Which usually happens with scam brokers like MorganStern.

How Does This Scam Operate?

Firstly, the broker promotes as an advert on Social Media some fast money-earning schemes. Once you register for it, you can expect numerous calls from their boiler rooms. That could be placed literally anywhere.

After you make your first deposit, you will be persuaded for more. With different tactics. But as soon as you want to withdraw some of the profits you will find obstacles. But have in mind, that non-licensed brokers’ goal is only to get money from you. It goes straight to their pocket. Also, the profits you see on their fictive platform are fictive as well.

Avoid these bogus scammers by doing your research before investing any money. But if this broker already stole money from you, get in touch with our fund recovery team. We can advise you on further steps for getting your money back as soon as possible. Important to know is that the first consultation is free.

MorganStern Summary

• Broker misleading traders.
• MorganStern doesn’t have any trading licenses.
• Unreliable web-based trading software.
• Extremely high minimum deposit requirement.
• Limited contact options.
• Non-existent withdrawal policy.

FAQs About MorganSternl Broker