Morgan FX Capital Detailed Review

There are many shady things in regards to Morgan FX Capital broker. The company has been blacklisted all around the EU and marked as a scam. We’ve decided to uncover the reasons for such a reaction by the EU regulators and give you some solutions if you were scammed.

So, let’s start our Morgan FX Capital review.

What About Morgan FX Capital Regulation?

Morgan FX Capital is allegedly owned by Preqster Ltd from the UK. Once we’ve checked the company, we found that it was registered in 2020 as a non-specialized wholesale trade company and dissolved in November this year. Also, it was registered under the names of several Latvian owners, making it even more suspicious.

Since the official owner doesn’t exist anymore and the company never opted for the FCA license, we can safely say that Morgan FX Capital is yet another shady website created to extort the money.

In addition to the above, we strongly advise you not to invest in Avalon WM, SafeTradez and MyBitChain fraudulent brokers.

Morgan FX Capital Warnings From Financial Regulators

Since the broker defrauded many, they filed complaints, and regulators reacted. The first one to issue an official warning against the Morgan FX Capital scam was the Spanish CNMV.

After this warning, we got the same one from the Danish DFSA.

And another one from the Italian CONSOB.

Finally, Norwegian regulator Finanstilsynet added Morgan FX Capital to its blacklist.

Fund Withdrawal Issues

Since Morgan FX Capital is not actually regulated and the company running the scheme has been officially shut down, the broker has no reason to allow withdrawals. Besides the obvious – the law. Unfortunately, most companies such as this one do not follow any regulatory rules and directives and end up closing the website once they get enough funds.

If you notice issues with logging in to your account, your withdrawal requests are unprocessed or denied, or if you have any other problems with the funds, let us know immediately.

Morgan FX Capital Trading Software

Our review has shown that Morgan FX Capital offers only one trading platform, a Web trader. Since it’s the least secure of all platforms and cannot be compared to reputable software such as MT4 or MT5, we advise you to stay away.

The web trader itself comes with no app, and the broker encourages clients to use a PC over a mobile device. Since most people are busy during the day and have no access to their computers, this sounds rather inconvenient. Besides, Web traders can never have as many charts and indicators as a MetaTrader, putting clients into an unfavorable position.

Areas Of Morgan FX Capital Scam

Most complaints against Morgan FX Capital have come from Italy, Spain, Albania, and Greece. Regulatory warnings show that the trading firm is present in Scandinavian countries such as Norway and Denmark as well. Since we found no restricted areas besides the US, be very careful and don’t accept any offers from this fraudulent company.

How Does Online Trading Scam Work?

If you ever signed up for online trading, then you know that everything starts with an ad, mostly on social media. You will see how a regular person makes money overnight. And the company will try to convince you that you can do exactly the same.

Once you sign up and start trading, account managers will give their best to offer you numerous financial plans, all implying that you should transfer your entire life savings into the trading company. Whether you go for the plan or not, you will never see a penny back with brokers such as Morgan FX Capital.

Also remember the names of the TradeVtech, FxOnUs and AAFX Trading trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

Scammed by Morgan FX Capital? – Tell Us Your Story

If you fall victim to the Morgan FX Capital scam, let us know. Our chargeback specialists may assist you in filing a dispute and getting your money back.

But What Is A Chargeback?

That’s a way for the bank to reverse a fraudulent transaction. Instead of wasting more time, contact us via online chat to book a free consultation and let’s get your money back!