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This MorganStern.io review is a warning that the broker doesn’t have your best interest at heart and will proceed to scam you accordingly. As a matter of fact, MorganStern is using the trading platform as a means to attract funds from unsuspecting victims.
There are two participants in this kind of fraudulent setup. The broker (who has to pretend that they’re offering a service) and the trader who ignorantly thinks that the broker is doing them a favor by giving them access to the financial markets.
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The consequences of falling a victim of MorganStern are quite obvious — and that is, you will have to deal with a financial loss.
Thankfully, we bring you a solution in this review. We’d like to let you know that you can recover your lost funds regardless of whether you used a credit card or funded your account in Crypto.
MorganStern review and overview
This scam site is not known by many traders yet because it was launched in January 2023.
Extra caution is needed when dealing with new brokers or sites that require money in order to perform a certain action.
MorganStern is offering the highly controversial and somewhat illegal CFDs for trading. The financial instruments include Forex, Crypto, Stocks, Indices and Commodities.
The website is claiming that their company is incorporated in England. We checked out the physical address and found that the premise is home to brokers like Integris Wealth, Lucid Markets, Bloomsbury Wealth but not MorganStern.
It’s not clear why this particular broker’s name is not showing up in the map. Furthermore, we noted that most businesses in this premise are new as they didn’t have any customer reviews yet.
We find it very suspicious that Morgan Stern is using this address when their office is not located in this address.
We also noted a different email address in their contact us page. Instead of using the primary email associated with MorganStern.io domain, they’re using an email address belonging to a defunct website.
We’ve also noted that Morgan Stern is not regulated or authorized to provide financial services in the UK and also globally in countries where online trading is regulated.
Despite this fact, this broker is still demanding a minimum deposit of $5,000 which is quite a lot considering that the kind of service they purport to offer often attracts newbies with no experience in trading.
Even if you invested this amount with a legit broker, you would lose it in a minute if you lacked prior experience in trading.
This is clearly a trap from a new broker that wants to loot and leave without notice.
How MorganStern intends to scam you
This broker is repeating the same old pattern of defrauding traders. They’re using TradingView, which is a charting service that doesn’t care who uses their resources as long as the customer pays.
Morgan Stern is definitely not an MT4 or MT5 broker but this does not stop them from taking your money in an unceremonious way.
The method of scamming is very simple. They lay the trap like this:
1)Broker claims in their marketing materials that they got your interest at the center.
2)They invest in a professional-looking website with colors that make them look legitimate.
3)They pretend to offer worldwide of opportunities (this makes traders feel that there’s more than enough money to be made.
4)They entice you to open a trading account and transfer funds to them (via another unscrupulous payment processor)
5)They trade against you and of course you will not find evidence to accuse them. Trading against customers is the standard procedure of operation among all CFDs brokers whether it’s MorganStern.io, TitanGap, FXequity or Aglo Trade.
Ultimately, you will lose the entire $5,000 but it will look like you are a poor trader (assuming you went in as an experienced trader).
Since this is an addictive game, you will be tempted to transfer another $5000 (or whatever amount) hoping to make money this time round.
If you do so, you will suffer a double loss because the platform is configured in such a way that you can never make profits in a consistent way.
Welcome to the world of market-makers!
Wrapping up the Morgan Stern review
We know that this scam broker would like to object this review. However, we are saying what has been proven to be true. Market makers generate revenue by doing all things within their means to ensure that you fail and they take your money.
MorganStern is neither going to be the first nor the last. The cycle always continues and there will be many more suckers losing their money to these shady brokers.
Our advice is that you should get out (if you’re already hooked to these brokers). If you have lost funds in these dubious Forex and Crypto trading schemes, make it harder for the broker to enjoy your money by applying for chargeback.
Of course we’re eagerly waiting for your comments down below. We hope this review of Morgan Stern broker was an eye opener.
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