Morris Capitals Review: The Truth Behind Allegedly Swiss Brokerage

Is Morris-Capitals.com a Legit Forex and CFD Trading Broker?

Morris Capitals claims to have operated since 2007. Furthermore, the brokerage says to be based in Switzerland. However, this requires strict licensing by the local authority, FINMA. Once we checked their register, we found Morris Capitals (AG) Switzerland, but not as you may think. Namely, the regulator issued an official warning stating that such a firm has never entered its commercial register.

With this in mind, we kept reviewing other details. For instance, the leverage goes up to 1:500, while Switzerland sticks to ESMA laws and maintains a limit of 1:30 for retail traders. In addition, this company shows a lack of transparency when it comes to legal matters.

If you’re one of the victims of the Morris Capitals scam, ensure to share your story with our dedicated staff. It can help us in our fight against vicious fraudsters.

Who Are the Victims of the Morris-Capitals.com Scheme?

Morris Capitals website was registered in March 2023. Like EuTradergo, this company has been placing many fake social media ads on Facebook, Instagram, and YouTube. We found their presence on Google as well.

The majority of their web traffic comes from:

• UK,
• Canada,
• Ukraine.

Wherever you reside, remember that this is not a legit broker. Despite their story, there’s a high chance that they will steal your money and vanish.

Traders’ Experience With the Brokerage

If you check Trustpilot reviews, you will find mixed sentiments. However, if you read positive comments, you will see that they’re clearly fake. Alleged investors claim to have worked with Morris Capitals since January 2023 or even last year. As we already explained, the company registered its website in March, meaning this is a bogus lie.

All in all, we’re not inclined to trust anything coming from Morris-Capitals.com and their support team.

Trading Features – Platform and Account Types

We’ve checked the company’s trading features. Usually, what scammers have to offer is not worth the money. And it proved to be true in this case as well. Let’s go through costly account types and surprisingly solid software on offer.

Morris Capitals MT5

The company offers a great trading platform for its investors – MetaTrader 5. It’s a well-known industry tool with a vast number of trading features.

Each MT5 comes with unique add-ons, such as EAs and social trading. On top, you can install a mobile app for Android and iOS and enjoy trading on the go and a convenient login. And yet, this is just proof that a good platform doesn’t necessarily mean a good broker.

Available Trading Instruments

With Morris Capitals, you have access to five classes of CFDs:

• Currency pairs – EUR/USD, GBP/AUD, USD/HKD
• Commodities – gold, natural gas, crude oil
• Indices – FTSE100, DAX30, NASDAQ
• Shares – Amazon, Asus, Intel
• Cryptocurrencies – BTC, BCH, USDT

If we were to trust the site, the company also offers wealth management and a mutual fund advisor.

Account Types Choice

As per the accounts, here are your pricey options:

• Silver – $25,000
• Gold – $50,000
• Platinum – $100,000

We’re unsure if $25,000 is a minimum deposit or if you can invest lower but without any benefits. Whatever the case, Morris Capitals is undoubtedly not worth it.

Trading Costs and Available Leverage

We already mentioned that the leverage goes up to 1:500. It’s above the limit in Switzerland but also in the UK and Canada, where the brokerage is mainly present.

As per trading costs, we know virtually nothing. The company doesn’t specify the spread, swaps, or anything of use. Therefore, it seems like you will have to invest first and then find out how they will rip you off. If you try to contact Morris Capitals as we did, they will insist that you provide a phone number and speak to their representatives. Everything they say is variable, and you have nothing in writing.

Morris-Capitals.com Withdrawal – Is It Possible and How?

First of all, there’s a clause preventing any withdrawals if you accept a welcome bonus. In such a case, you have 60 days to reach the minimum trading volume of the bonus amount divided by 4 in lots. That said, it means that for a $200 bonus, you must trade 50 lots or $5 million. Great deal, right?

If you don’t meet these insane criteria, you can only withdraw your initial deposit, but not your profit. The minimum withdrawal amount is $50 for credit cards, and it’s unclear if the company allows any other payment methods.

If we were to trust the reviews, you would submit your request and wait for a payout, but you won’t get it. This is how scammers operate. This is when you have to contact Morris Capitals and save all communication for later to submit it along with other evidence to the relevant authorities.

What Should I Do If I Was Scammed by Morris Capitals?

If you were scammed by Morris Capitals or any similar fake brokerage, you should notify the authorities immediately. In addition, you can request a chargeback from your bank within 540 days of the transaction in case you used your credit card.

Our chargeback analysts have years of experience dealing with online swindlers. We offer free, non-obligatory consultation if you need any help or advice. Get in touch, and let’s recover what’s rightfully yours!

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