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Morgan FX Capital Broker Review

There are a lot of dubious things going on with the broker Morgan FX Capital. The company has been labeled as a fraud and is on every EU blacklist. We’ve made the decision to explain the causes of the EU authorities’ response and provide you some solutions if you were defrauded.

Broker status: Unregulated Broker
Regulated by: Unlicensed brokerage
Blacklisted as a Scam by: CNMV, DFSA, CONSOB, Finanstilsynet Norway
Owned by: Preqster Ltd
Headquarters Country: UK
Foundation year: 2020
Supported Platforms: Web trader
Minimum Deposit: N/A
Cryptocurrencies: Available – BTC, ETH, XRP
Types of Assets: Cryptocurrencies, FX, commodities, indices, stocks
Maximum Leverage: N/A
Free Demo Account: No
Accepts US clients: No

FX Capital Regulation

Preqster Ltd, a UK-based company, is said to be the owner of Morgan FX Capital. When we analyzed the company, we discovered that it had been dissolved in November of this year and had been registered in 2020 as a non-specialized wholesale trading corporation. It was even more odd because it was registered under many Latvian owners’ names.

We can easily conclude that Morgan FX Capital is another dubious website established to extort money because the official owner no longer exists and the company never chose to apply for the FCA license.

Warnings From Financial Regulators

Numerous people complained when the broker deceived them, and regulators responded. The Spanish CNMV was the first to publicly alert people about the Morgan FX Capital scam. We then received a similar notice from the Danish DFSA. And yet another from the CONSOB in Italy. Finally, Morgan FX Capital was added to the prohibited list by the Norwegian authority Finanstilsynet.

Fund Withdrawal Issues

The broker has no need to accept withdrawals because Morgan FX Capital is not genuinely regulated and the organization behind the scam has been formally shut down. Aside from the obvious – the law. Unfortunately, most companies like this one ignore all regulatory requirements and end up shutting down the website once they have enough money.

Trading Software

According to our research, Morgan FX Capital only provides one trading platform, a Web trader. We encourage you to avoid it because it is the least secure of all platforms and cannot be compared to reliable software such as MT4 or MT5.

The web trader does not have an app, and the broker encourages clients to utilize a PC rather than a mobile device. This appears to be inconvenient, given that most individuals are busy during the day and do not have access to their computers. Furthermore, web traders can never have as many charts and indicators as a MetaTrader, placing clients at a disadvantage.

Areas Of Morgan FX Capital Scam

The majority of Morgan FX Capital complaints have come from Italy, Spain, Albania, and Greece. According to regulatory warnings, the trading firm is also present in Scandinavian countries such as Norway and Denmark. Because we discovered no prohibited areas other than the United States, be extremely cautious and refuse any offers from this fake firm.

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