Morgan Financials has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Fraud ...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
My card was charged twice by Morgan Financials on the same day. I had to dispute it with my bank. Morgan Financials then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.
Pros: Comprehensive tools|Detailed reporting|Automated trading options
Cons: Search feature is basic
Tried to withdraw my funds from Morgan Financials and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Cons: Lost entire investment|Reported to authorities|Unresponsive
After spending for about ten months trying to make Morgan Financials work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.
Pros: Clean UI|Multi-device support|Fast deposits|Educational resources
Cons: Account statements could be more detailed|Search feature is basic
Several red flags with Morgan Financials: (1) They promise unrealistically high returns, (2) They're not registered with Financial Markets Authority, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Cons: Listed in warning databases|No transparency|Pressure to invest quickly
Do not be fooled by the professional-looking website. Behind the scenes, Morgan Financials is disorganized and incompetent. I found them from a blog post comparing services and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: No hidden fees|Competitive fees|Clean UI
Cons: Inactivity fee applies after 12 months|Could offer more webinars
I have been trying to close my account with Morgan Financials for weeks now and they keep giving me the runaround. First it was a form to fill out, then identity verification again, then a mandatory phone call that never gets scheduled. They make leaving impossible.
Pros: Wide product range|Transparent fees|Dedicated account manager
Cons: No fractional shares
Morgan Financials had an outage that lasted several hours during a major market event. Not only did they fail to prevent it, but they also failed to communicate what was happening. We were left in the dark while our investments were at risk.
Pros: Low minimum deposit|Instant funding|Responsive team
Cons: Mobile app could be improved
The only good thing about Morgan Financials is that they remind you why regulation matters. I found them through a forum discussion. They are regulated in a jurisdiction with weak consumer protection. When things went wrong I had nowhere to turn. Stick to well-regulated brokers.
Pros: Intuitive for beginners|Regular platform improvements
Cons: No integrated tax optimization|Limited cryptocurrency options