Morningstfx is a contract-for-difference brokerage whose official domain was registered on May 22, 2024. It primarily offers trading services in financial derivatives such as stocks, futures, crude oil, gold, cryptocurrencies, and forex to retail and institutional clients. This broker does not provide services to jurisdictions where it might violate local laws or regulations.
Corporate Registration and Regulatory Status:
According to the publicly available information on Morningstfx’s official website (www.morningstfx.com), the full company name is MorningST GROUP LIMITED, headquartered in London, UK. It claims to be regulated by multiple authorities including the UK Financial Conduct Authority (FCA), the US Financial Crimes Enforcement Network (FinCEN), the Australian Securities and Investments Commission (ASIC), and the Japan Financial Services Agency (FSA). Their respective IDs are as follows: FCA ID: 504072, ASIC ID: 406684, FSA ID: 2010401081157, and US MSB ID: 31000234126807.
Upon verification of the license numbers provided on the broker’s website, it was found that the UK FCA, Australia ASIC, and Japan FSA licenses are actually held by a reputable broker, AVATrade, and not MorningST. Furthermore, FinCEN indicates that the MSB ID: 31000234126807 belongs to SSJTCF GROUP LIMITED. Therefore, Morningstfx is essentially a fraudulent broker's website with no real corporate entity or regulatory oversight.
Additionally, the design and content of the Morningstfx (www.morningstfx.com) website are identical to those of other scam broker websites like Tasman FX, WTTKE, FBS, XCharter, CIFX 5, and sesaFXCM.
Account Opening Process:
To open an account with Morningstfx, visit their official website and click on "Register" on the homepage or at the top right corner. Fill in your email address and set a login password. The broker will send a verification code to your provided email. Enter the code in the application form and submit it. Once submitted, the account will be successfully registered. You will need to complete identity verification to deposit funds and start trading.
Trading Account Information:
The Morningstfx website only discloses information about spreads, leverage, margin call/stop-out levels, and contract sizes. However, details about account types, trading commissions, minimum/maximum trading volumes, maximum positions/orders, and minimum price increments are not provided.
- Spread: Floating, from 1 pip
- Leverage: 1:100—1:500
- Margin Call/Stop-Out Levels: 100%/50%
- Contract Size: 1 lot = 100,000 currency units
Trading Platform:
Morningstfx offers a self-developed trading platform available on desktop and mobile. The platform provides over 50 technical indicators and intraday analysis tools, along with features for advanced traders.
Deposits and Withdrawals:
Morningstfx does not specify on its website the supported deposit/withdrawal methods, fees, or minimum amounts.
Conclusion:
Traderknows reminds investors that Morningstfx is a suspected fraudulent broker with unclear registration and regulatory information and false advertising. The only way to contact them is through email, making their contact method very limited. The website design and content are the same as other fraudulent broker websites like Tasman FX, WTTKE, FBS, XCharter, CIFX 5, and sesaFXCM. Traderknows advises investors to choose brokers with transparent information, strong regulation, and good reputation to avoid unnecessary financial losses.
Currently, this broker is marked as "Suspected Fraud" on Traderknows.
