Read our Morgan Stern review to see if we recommend this broker for trading. Just to clear doubts, this is a morganstern.io review.
Is Morgan Stern Legit?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are infamous for scamming schemes.
So, Morgan Stern is just another unregulated forex broker, which means the customers aren’t protected, and there is highly likely they will get away with your hard-earned money and there will be no regulating agency to hold them responsible.
| Regulatory Body | Status |
|---|---|
| FCA (UK) | No record of authorization |
| ASIC (AU) | No record |
| CySEC (EU) | No record |
| SEC / CFTC (US) | No record |
How does the scam work?
Usually, unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit. And they will try any conceivable method in order to make that happen. They will offer deals that sound too good to be true. Like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, they transfer clients to a smarter scammer, called a “retention agent”, who will try to get more money out of you. Also, one thing we need to add here is: don’t trust the good Morgan Stern reviews you might see online. They pay websites and services to improve their online reputation by posting good reviews about them.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It doesn’t matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back Morgan Stern?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all, you need to keep the emails as proof that you have been requesting the money back from them but they don’t give it to you. Or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how they deceived you into depositing money for a non-regulated trading company. Mention also that they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact [email protected] but don’t let your broker know they you read this article or that you are contacting us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on where you live, you can search google to find the regulatory agency for Forex brokers in your country. After that you can prepare a letter or an email describing how they deceived you. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you don’t know where to start, reach us at [email protected] and we’ll help you with this step as well.
Make sure you leave Morgan Stern reviews in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites. See what other sites have posted reviews about Morgan Stern, and describe shortly what happened. If you fallen victim, please leave a review and a comment on this site at the comment section. Also, when these people change their website, they tend to call the old clients. So, if they call you from a new website, mention it in the comment or let us know about it. That would be really appreciated by us by our users. Also, if you get phone calls from other companies, please put the name of these companies also in the comment. Or you can send them to us and we will expose them too.
Morgan Stern Review Conclusions
Making the Morgan Stern review was our pleasure, and we hope to save as many people from losing their hard-earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our Morgan Stern review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected] or by using this contact form.
If you like to trade, please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
THIS IS A SCAM, I SPEAK FROM KNOWLEDGE, DO NOT TRUST THESE INDIVIDUALS THEY WILL SVAM YOU. THEY ARE CLONING OTHER COMPANIES AND SEND YOU VERY LEGIT LOOKING FORMS BUT IN THE END IT IS A SCAM. ALSO BE WARNED THEY PLAY A LONG GAME. 6 MONTHS OF REGULARS CALLS AND CHECKS ON THE ACCOUNT ONLY TO BE SCAMMED IN THE END.
I need help getting my 500 out of these asshole’s. It’s definitely a scam.
Keep withdrawing money every week or so until everything is out. Use Bitbuy or something similar.
(1/5)
I just got scammed by morganstern.io. I tried to withdraw from my account. They send the money to crypto.com. then they made me open an app called atomic wallet, and transfered the money there .then told me I needed to match that amount. He took me to my bank account, and made me etransfer the money. Then his boo got on the line and made me etranfer an other amount to crypto.com. then to atomic wallet. When it was all done he said he was going to call me right back, and that was it. Went back to my account, and there was 42 cents left. Haven’t hered from them since
Hi Joseph
Just to let you no they did exactly the same thing to me
I have been dealing with them since dec12 2023. after numerous of emails going un answered finally received one back. They told me they would help me access some of my money which I thought was good. I first had sent 380 dollars that accumulated t0 28000. they had me download anydesk and accept their request. asked me to open my bank account so they could send me my refund. instead they withdraw ed a thousand out of it. Over next few days they took all my crypto and my money. Finally fraud For Morgan and stern called handed names and everything over. Several days later they took my first deposit of 380 and reinvested and made a deal to help me out as well for composition of they would match my deposit of 10000 they would give me 5000 on top of those earning but it had to be there for 30 days. I said no to the deal. they then stopped calling till a week ago. new person offer to help withdraw money out bc it had made some good returns so I agreed and was assured it was legit. then the had me down load anydesk so they could send it same as before. asked me to send 1500 to get things cleared and conformation contract. so I sent it in return bc I was expecting 8500 american on top plus the 1500. that was a week ago. it said the money was sent to my bank which it had. DO NOT I REPEAT DO NOT SEND THEM MONEY you will never see it again. you can’t call them because their phones only make out going calls. I have saved all names emails. they look authentic and sound real so all together 3000 of my cash out of my bank bank account and 40 000 in invested earnings I accumulated.
All I can say one thing that Morgan Stern is a scamming outfit. I invested $250 and they said in three days I made 1000 so anyways one led to another and I invested $20,000. I tried to withdraw and they wouldn’t let me withdraw, so here I’m stuck losing $20,000 on today. They phoned me again after a month and said my account was 91,000 if I wanted to withdraw it I could but I needed E transfer so they could transfer it into my account and I know that’s just another scam. They said they were going to phone me on Tuesday and I can get my money back or withdraw my money. That’s all a scam. Anybody that’s involved with this company better get out quick, there’s so many people that got scammed from this company isn’t even funny and they keep phoning you in November when I got into this I never invested a nickel in my life and I lost 20,000 quite a bit of money when you’re a senior but anyways do not believe anything this company says I reported it to the authorities and the bank and they’re all looking into it. It seems like it’s so rampant right now that they can’t really do anything about it that’s that’s the bad thing, but do not send these money
I started investing with them December 23rd of 2023. I have now lost $60,000. They’re a complete scam. Called the police they don’t care. They washed their hands if it completely. Nobody cares in Canada. They expect you to do your own due diligence. Which I have to admit. I trusted the friend that phoned me about this in the first place. I asked him where he found out about it. And he told me from a friend. Which was a lie. He finally admitted that he found it online. He had been investing for several months previous to this. But did not do his due diligence either. They get people to invest and show a huge returns. And then offer them extra money in the form of trading Capital. To recruit other people. Which they do. And then our greed kicks in. And a fool and his money are soon parted.
Morgan stern is nothing but a scam like one review i read they did exactly the same thing to me they put Any Desk on my computer then i started to invest with them after $200k ive been trying to get my money it went to crypto to atomic wallet through block chain then to smart
contract i also went through 4 brokers telling me if i want my money back i had to keep giving them more money they cleaned me out do not deal with Morgan Stern .io