Morris Capitals trading opportunity is offering financial services and products to investors worldwide. The entity claims to be a reliable broker. They also promise trader freedom at the markets. They have CFDs, FX, cryptos, and FX assets. Unfortunately, the platform has shady characteristics, which makes them dangerous.
The broker brags about four core features. These are unparallel trading conditions, system privacy, a wide range of products, and top-notch learning materials. Unfortunately, after careful analysis, we found that this is only a marketing strategy. The review showcases many loopholes.
Morris-capitals.com lacks a trading history. No experienced investor would risk venturing with the offshore entity. The domain name is also young. However, the platform claims it has been in the industry since 2007. If they lie about such minor details, what else are they hiding?
Their website only has generic information. It even falsely claims to have a license. This is an enterprise that will do anything to win your trust. You must trade with genuine forex companies. These platforms have audited results.
Most people online are wondering who are Morris Capital. We tried finding out who the founder was, but we were unlucky. The company claims it works with professionals. This is hard to believe since the qualification of financial analysts, accountants, and advisers is missing.
They also don’t have a parent company. It is impossible to track down the company's owner once the website becomes inactive. We suggest you invest with reputable brokers that are transparent.
The morris-capitals login process requires you to complete the registration process. However, you cannot proceed without having a promo code. Such requirements are not mandatory with legitimate brokers. This raises concerns. The registration process should be seamless and straightforward.
Morris Capitals has three trading accounts; Silver, Gold, and Platinum. The platform fails to disclose the available trading platform. Usually, offshore schemes present a basic web trader to customers. The main shortcoming of the interface is the lack of advanced trading features.
Expert traders prefer the MetaTrader software. It is user-friendly with programmable EAs. You can access more markets, trading tools, indicators, and easy-to-use chart tools. The VPS keeps track of your existing order even with your computer shut.
Morris Capitals fails to provide information on leverage, commission, and spreads. The average market standard for spread is 1.5 pips. Luckily, reputable brokers are offering tight spreads below that limit. We suspect the platform provides more leverage to customers than what financial bodies approve.
Most regulatory agencies in the EU, AU, and UK allow 1:30 leverage while the US cap is 1:50. This helps create a conducive trading environment. Offshore companies will promise a 1:400 cap to lure traders into depositing more cash.
What they don’t tell you is leverage is a double-sided sword. The higher the limit, the greater the risks. To be on the safe side, stick to legitimate companies.
Morris Capitals requires a minimum deposit of $25,000 on the silver account. The amount is outrageous, considering the company is not transparent about the trading conditions. You will have access to a personal analyst, a weekly market overview, monthly sessions with financial analysts, and financial research.
The majority of regulated forex companies accept a minimum deposit of $250. Some genuine brokers allow you to start trading for as low as $10. Therefore, we do not see the need to risk huge capital with an illegitimate entity.
The other two accounts accept $50,000 and $100,000. They also have a welcome bonus of 10% and 20%. Do not accept the bonus without reading the Terms and Condition policy. Morris Capitals claims it has the right to change the policy whenever it deems fit. Considering this is an unregulated enterprise, they may have hidden charges.
If you receive a $200 bonus after depositing $1000, you must execute a trading volume of 50 lots (200/4) to qualify for a withdrawal. Failure to do that you cannot leave the bonus or the trading profit earned. You will only be able to cash out your initial capital. This is a daytime robbery.
Financial bodies have also banned licensed brokers from offering bonuses. This is because the money legally belongs to the companies. Scammers use bonuses to have leverage over their customers.
Morris Capitals claim to have offices in Switzerland. Customers can use a phone number and email address to reach support. However, you should note that shady brokers use fake contact details. This is to win the trust of investors by pretending to be transparent.
Offshore companies tend to change these details over time. Other shady schemes use the information of genuine brokers to look genuine and confuse traders. The best investment companies hire professional customer support. They handle customers' queries on time. You can also interact with the team on their social media pages.
Unfortunately, Morris Capitals does not have a license from a reputable financial body. The Financial Conduct Authority (FCA) has blacklisted the broker. This is the regulatory agency of the United Kingdom. The company has been targeting citizens of the region without seeking approval from the government.
Investing with a licensed broker grants you peace of mind. Also, you are protected by the financial watchdogs if things go wrong. Before investing your fund, ensure you visit the website of your local regulatory body. Check for the name of the broker you intend to pursue.
Morris Capitals being unregulated does not report its daily transactional reports to authority. Therefore, the scheme can manipulate the market price. They can also violate traders' rights by overcharging or hindering them from withdrawing cash.
Since Morris-Capitals.com claim to be based in Switzerland, it should have a license from the Swiss Financial Market Supervisory Authority (FINMA). The agency has warned its citizens against trading with the firm.
It is unwise and ignorant to venture with a broker blacklisted by not only one agency but two. Regulatory bodies have capital requirements. The huge amount proves a broker can conduct investment services without swindling traders.
In the UK, a broker should have £730,000 capital. If the entity faces bankruptcy, clients receive £85,000 compensation. Even if an offshore scheme shuts down its operation, you won’t receive a penny.
Morris Capitals is not working with a top tier 1 bank. Therefore, customers' funds are at risk. The amount you deposit will go to the con artists' pockets. This will make the recovery process impossible. The fact that the broker is also unregulated compromises the safety of your money.
The entity is anonymous yet it requires customers to share critical data. The contact details are vague. Never share your ID, email address, proof of address, and phone number with scammers. They will only frustrate you.
The FCA and FINMA blacklist Morris Capitals, which is a big red flag. They also don’t have a license from any other country. Their trading accounts are absurd. You should also check out their terms and conditions section. Avoid this unscrupulous entity and look for genuine platforms.
Here are some of the best forex trading companies in the market. These are transparent ventures with ideal trading conditions. They also have licenses from reputable financial watchdogs.
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