MorganStern Review – Is the Broker a Scam or Legit?

Is MorganStern an illegal trading scam without a license?

MorganStern claims it is based in the UK if you look closely. According to their Terms and Conditions, Morgan Stern LLC is listed as the official owner by the brokerage. Accordingly, the company should be listed in Companies House. We should also be able find MorganStern’s regulation in the UK FCA.

However, none of the searches returned any results. The broker license or owner was not found. Simply put, if the company goes under, your funds would disappear. You wouldn’t be able contact the Financial Ombudsman, or to claim your rights under FSCS.

The brokerage, which is alleged to be a UK-based financial intermediary would also need to adhere with ESMA rules. The European Securities and Markets Authority states that retail traders can’t leverage more than 1:30 because of high CFDs volatility. MorganStern offers a 1:100 leverage limit, which is directly in violation of any regulations.

This is enough to conclude MorganStern is a fake website, an attempt at stealing your money and making you disappear.

MorganStern is an allegedly UK-based trading broker that does not have a license. It has a low trust score, which indicates that it is not trustworthy.

Where are MorganStern Scam Victims Living?

Let’s have a closer look at the MorganStern scam victims. How can they get their money back? According to our research, the majority of complaints are from:

• US
• UK
• Canada
• France

The brokerage also claims that they do not offer services to US residents. This violates their terms of business. How can you trust them with anything else?

This domain was registered on January 6, 2023. It is approximately one month old at the time this article was written. It’s crucial to voice your concern and ask authorities to act, considering that withdrawal problems are still a problem.

MorganStern WebTrader Platform

We can see the main page and two MorganStern trading platforms MT4 or WebTrader. We were eager to have access to the best software available so we created an account. Imagine our delight when we found nothing but basic browser-based software. It was not even close to MetaTrader 4.

We searched and searched, but couldn’t find any more. Although the interface is very similar to MT5, there are no other similarities. There are no advanced tools or features like the MetaTrader.

Mobile Trading App – How Can I Get It?

Fake MT4 is not the only product sold by this company. These links will take you to the Google Play Store and iOS, but they are only images. Clicking on any of these links will not activate anything.

Scammers will often try to lure victims with low trading costs or popular trading software. They will disappear with your money once they have enticed you to deposit.

What can I trade with a broker?

We believe trading assets are not our concern. Let’s take a closer look at the available instruments.

• Currency pairs: EUR/USD and GBP/AUD, respectively, CAD/ILS
• Commodities Gold, Corn, Crude Oil
• Indices – DJIA, FTSE100, NASDAQ
• Shares Amazon, Apple, Intel
• Cryptocurrencies All pairs can be traded against USDT and EURT stablecoins.

Let’s now look at trading costs. We’ll see how much it will cost to invest in a unregulated fraud company.

MorganStern Spreads and Fees

Spreads start at 2 pip for the EUR/USD pair. This is the most expensive. You shouldn’t be surprised if other commissions aren’t included. What broker would tell you that your entire deposit is covered by your commission?

Comparing Trading Accounts – What is the Difference?

Let’s take a look at the different MorganStern account types for the sake of a thorough review.

1. Classic – $5,000
2. Bronze – $25,000
3. Gold $ $100,000
4. VIP $1,000,000

Leverage ranges between 1:10 and 1:100. VIP accounts have a spread that is raw. Each account with a higher trading session, better signals and market research brings you more trading sessions.

The Classic account requires a minimum deposit of $5,000. We have brokers who are legitimate and require $10-100. Why take on this financial fraud?

What is a chargeback?

Chargebacks are a way for your bank to reclaim funds from the merchant. We recommend that you contact us immediately to initiate the process. In a free consultation, we will discuss how to get your money back immediately!

MorganStern: Video

Below you will find a short video about MorganStern. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about MorganStern!