MorganFinance Review: morganfinance.trade is nothing but a scam

Morganfinance is an offshore, online trading platform that purports to be “trustworthy and professional”. Interestingly, the claims made are absurd since, after research, no traces of any form of regulation was observed. The former means that Morganfinance is just an anonymous and virtual platform: a common trait with most offshore scammers within the trade market.

First and foremost, no regulatory body oversees Morganfinance. Hence, it does not own the mandate to provide services to its clients globally. Moreover, a brief snippet overlook showcased the difficulty in withdrawals, with the latter being withheld against the client’s will. The negative opinions and cautionary testimonials arouse red flags that should detour you from being a victim of these brokerage scammers.

Morganfinance operates on the following criterion: Firstly, they acclaim and spread false information via promising unrealistic returns to bait potential investors to make a deposit. In case you make your first deposit, look out for numerous calls trickling into your phone to pursue you to make more deposits.

Notably, these scammers outsource for exotic labour, which is cheaper, and they get these employees to make countless calls to unsuspecting victims. Once unprecedently swindle your cash, clients get left out in the dark abyss with little to no communication. Morganfinance is a scam; hence, there lies no possible way of contact due to some given factors as elaborated below. On the other hand, loyal, legitimate, transparent and profitable online trading platforms await you on the other side of the terrain, only a single click away.

Morganfinance Review

Morganfinance’s company number is SC232570. However, research shows that the company status was dissolved on March 6th 2015. The company’s address is 22 Woodhall Road, Cambusnethen, Wishaw, ML2 8PY. During its legitimate time in operation, the company was taxonomized as a Private Limited Company. Moreover, Morganfinance’s previous name was NewCom Direct Ltd.

Derivatively alluding to the above data, it is beyond doubt that Morganfinance is nothing but a scam. The above details show that the company has been off the market for more than seven years since its dissolution. Therefore, do you think investing with a “ghost company” is safe?

The physical address provided is nothing but a hoax. Utilizing Google Maps proves that the address 22 Woodhall Road, Cambusnethen, Wishaw, ML2 8PY does not bear the company. Satirically, you only come across residential buildings, and even a deeper dive on the company’s enlisted shows no trace of Morganfinance.

Consequently, you are advised to refrain from investing in this trading broker since all odds point in favour of a probable scam taking place.

Morganfinace funds’ safety and regulations

Morganfinance lacks any regulation accreditation with relevant bodies. The lack of regulators overseeing this brokerage online trading platform is sufficient validation that endeavours to liaise with them is detrimental.

Additionally, Effervescent Group Ltd operates and bears ownership of Morganfinance. The former company is located in St. Vincent and the Grenadines. This information does not help in the validation of the legitimacy of Morganfinance.

The riskiest aspect is that Morgan finance is an offshore broker. Hence, it is virtually unavailable. Any attempts to get in touch with the real legitimate owners are futile. There is no options to file for a chargeback. Moreover, this stated trait makes it cumbersome for you to take legal action against the perpetrators.

Beware that the chances of you withdrawing your money are severely narrow, and the only remedy is to avoid this scam.

Morganfinance trading software

This brokerage online trading platform claims that it provides one of the renowned and most efficient trading platforms. However, what you come across when you visit this platform is an astonishingly rudimentary web trader platform. The software is a no-match for giant and standard, globally renowned trading platforms such as the Meta Trader.

Morganfinance’s provision of rudimentary and outdated software lacks key standard elements and features. The absence of these key features, such as algorithm trade options and quotes in real-time and automated trading, totally limits your trades’ efficiency.

Morganfinance trading conditions

Key trading conditions such as pips, spread and leverage can reveal the degree of legitimacy of any online trading broker. Morganfinance advertises a pip start as low as 0.5 pips. However, due to the lack of regulation, the numbers stated should not trick you into reneging from your fund’s safety.

Morganfinance gave us very minute pip-spreads after we did the account registry. The spread began at 3 pips with the major EURUSD currency pair. Lastly, this online broker provides maximum leverage as high as 1:300. The leverage is pretty reasonable, but we still advise you to refrain due to a lack of regulation.

On the other hand, you may check out some undeniably reliable, transparent, regulated and profitable trade brokers who meet all prerequisite requirements.

Morganfinance withdrawals, deposits and affiliate fees

Similarly to other scammers, Morganfinance majorly uses unscrupulous modes of payment. Cryptocurrency lies as the preferable option with an exemption of using VISA or MasterCard. Interestingly, the latter mode uses an obscure, intermediary third-party known as abncbp.com.

Some of the acceptable crypto coins include Ethereum, Litecoin and Bitcoin. By now, it should be clear that the anonymity present in these payments vividly acts as a stop sign. The former occurs due to a lack of chargeback or traceability, leaving you with no avenue to seek legal action if scammed.

Morganfinance has dramatically shown variations in the minimum deposits allowed in terms of amount. Initially, the amount was $1000 before spiking to $250, which is fairly equal to other brokers in the forex market. Therefore, the amount Morganfinance requires for a standard account is unclear.

Online rankings and trust scores

According to www.scamadviser.com,  Morganfinance has a trust score of 1/100, an extremely low score. The score is a disclaimer for you and any prospective trader or investor to refrain from since the levels of trust warrant more scrutiny. Additionally, the contact emails of the contact, administrator and technical are all free. Insult adds that the owner is supposedly hiding on WHOIS via a premium service.

Extensive use of Morgnfinance software leaves behind traces of malware. Moreover, the website lacks sufficient traffic, contains negative client testimonials and shares a common registrar with numerous spammers. This close relationship only proves that Morganfinace operates hand in hand with other scammers of the same nature.

Final verdict

Conclusively looking at some of the highlighted red flags, such as the lack of regulation, obscure payments, withdrawal denial, ranks and scores, and personnel bio data, we conclude that Morganfinance is nothing but a scam.

You should relentlessly recall one factor: a deal with an offshore broker is as good as a con deal. Most of these online trading brokerage companies lack the necessary certification and accreditation. Consequently, topped up with anonymity, any form of investment is as good as dead. Before you invest in any firm, please check all the parameters as a countermeasure to aid you in evading any losses.

Lastly, recall that we have in store for you some of the most reliable, experienced, full-accredited, funds secure and legitimate online forex brokers. These firms are approved to serve clientele globally and bear little risk.