Morgan Stern offers limitless opportunities to its customers. Here you will find access award-winning platform with lightning-fast execution and next-generation tools, and much more. So far, everything sounds very nice. However, won’t the broker turn out to be a scam? Not to fall into the hands of fraudsters, it is necessary to check the legal information of the company and review it. That’s what we will do.
- Morgan Stern General Information
- Registration and Client Portal Review
- Morgan Stern Trading Conditions
- Account Types Review
- Trading Platform
- Morgan Stern — Deposit and Withdrawal of Funds
- Additional Option
- Is Morgan Stern a Scam?
- Legal Information and License
- Morganstern.io Domain Info
- Contacts Review
- More Details
- Pros and Cons
- Frequently Asked Questions (FAQ)
Morgan Stern General Information
|Address||30 Crown Place, London, England, EC2A 4EB|
|Leverage||1:10 – 1:100|
Registration and Client Portal Review
On the first visit to the official Morgan Stern website, traders can admire a beautiful picture of a mountain peak. Of course, there is also the man who conquered it. This is probably a hint that you can conquer the markets only with this broker. There is no valuable information on the main page. Unless only a brief description of trading accounts. Everything else does not deserve special attention. The broker simply lists its advantages and assures that only the interest of traders is its priority.
Registration on the site should not take much time. The broker did not come up with anything new. To create an account, just fill out a small form. However, we did not manage to get into the client portal. The system considered us bots, even though we used real data for registration. After that, we were offered to contact support. Is this an unfortunate oversight or a calculation? After all, in a personal conversation with clients, the broker has more chances to start cooperation.
Morgan Stern Trading Conditions
The broker claims to serve clients in 170 countries. And it hasn’t finished yet. Let’s see in detail what it can offer traders.
Account Types Review
Morgan Stern is a CFD broker. It has only 4 types of accounts. And it’s not even about quantity. It’s about quality. You will need to fund your Classic account with 5 thousand dollars. Quite a lot of money, right? At the same time, you will receive only 1:10 leverage and several related services. They include trading signals, webinars, and other crap. At the same time, you will be allowed to pass 1-3 trading sessions per week. And what did you think? That you can trade whenever you want?
In general, the restriction of trading sessions is some kind of innovation. We have not yet met scammers who would have thought of such a thing. Morgan Stern was the first. To be able to conduct at least 10 trading sessions per week, you will need to fund your account with 100 thousand dollars. It is nonsense. By the way, almost nothing important is described in these trading conditions. What spreads will traders have, swaps, and commissions? All of this is simply not specified.
We have not been able to register in the Client Portal. However, we found out something about the platform. Morgan Stern claims to provide MetaTrader5 for trading. There is not a single truth in these words. In fact, the broker has unlicensed software. Seriously, you should just look at the links on the App Store and Play Market! These aren’t even links! Try to click on them! These are just pictures to mislead you. From the feedback of traders, we know that Morgan Stern provides only WebTrader. At the same time, it works just awful. During trading, slippages and lags are constantly observed.
Morgan Stern — Deposit and Withdrawal of Funds
Absolutely nothing is said on the site about the methods of funding and withdrawals. Perhaps this information is in your personal account. Of course, it is still possible to clarify this data with the project managers.
Before clients get access to Morgan Stern services, they will need to pass verification. The procedure is standard. Confirm your identity and residential address by uploading copies of documents to the Client Portal. A passport, an ID card, or a driver’s license is suitable for this. The utility bill or the bank statement can confirm the residential address.
The broker’s additional options include many near-market services. A wide range is presented here. Trading signals, analytics, training, and even risk-free trades will be available to the trader. By the way, the last point proves as well as possible that Morgan Stern is just a dealing desk. There are no risk-free transactions on real markets and exchanges. And of course, what quality signals and analysis are offered to customers is a very big question.
Is Morgan Stern a Scam?
A look at the description of the trading conditions was enough for us to make a conclusion. Morgan Stern is a scam. Here are some more proofs.
Legal Information and License
You will find all legal information in the footer of any licensed broker. And now try to find it on the Morgan Stern website. Even in the user agreement, there is no hint of where the management company is registered. However, the office address on the website is still in England. Therefore, we will try to find a company with a similar name in the UK registry.
Unexpectedly, we even succeeded. Morgan Stern Limited was founded in 2015. There is one problem. In 2021, it was dissolved because it had been a dormant company all this time.
Of course, a dissolved company cannot obtain any licenses. So Morgan Stern is an unregulated broker.
Morganstern.io Domain Info
The funny thing is that Morgan Stern deliberately stole the data of an already defunct legal company. We have checked the domain of this broker. It’s brand new. The official website of the project was made on January 6, 2023. So far, it is only a few weeks old. However, Morgan Stern is already lying to customers about working in 170 countries around the world.
An email and a feedback form are provided for communication with the broker. Morgan Stern also specifies the address. We have big doubts that there is any office there at all. Most likely this address is just fake.
An important detail that we want to note is the conflict of interest. It is always present if you trade through a dealing desk. Morgan Stern reserves the right to interfere in the trading process. The broker can close your orders, recalculate profits, and change the terms of the agreement.
Pros and Cons
- Additional services.
- The minimum deposit is too high.
- No legal registration.
- A short period of work.
- No license.
- Unlicensed trading terminal.
Frequently Asked Questions (FAQ)
Morgenstern offers CFD trading and some related services, such as trading signals and analytics.
The minimum deposit according to the description of trading accounts, is 5 thousand dollars.
No, it’s a pseudo-broker. It operates outside the legal field and is not regulated by any supervisory authority.