Score
morningfx
China|5-10 years| http://www.morningfx.com
Website
Rating Index
Contact
Licenses
Licensed Institution：MORNING MARKETS LTD
License No.：14677
Single Core
1G
40G
1M*ADSL
- The number of the complaints received by WikiFX have reached 12 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
Basic information
China
5-10 years Regulated in Vanuatu Retail Forex License Suspicious Scope of Business High potential risk Offshore RegulatedAccount Information
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Website
morningfx.com
Server Location
Singapore
Website Domain Name
morningfx.com
Server IP
103.43.188.238
Genealogy
VIP is not activated.Company Summary
| Aspect | Information |
| Company Name | Morningfx |
| Registered Country/Area | China |
| Founded Year | 2015 |
| Regulation | VFSC(Offshore Regulatory),NFA(Suspicious Clone) |
| Products & Services | Foreigh Exchanges,Index,Energy,Nobel,Metal,Spot Silver,Forex Rare Disk |
| Leverage | 1:400 |
| Trading Platform | MT5 |
| Payment Methods | VISA,Mastercard,Paypal,StripMinimum Deposit:$100 |
| Customer Support | Email:cs@morningfx.com |
| Educational Resources | FAQs,Company News,Industry New,Economic Calendar |
Overview of Morningfx
Morningfx is a trading platform based in China, established in 2015. It is regulated by VFSC as an offshore entity and is flagged as a suspicious clone by the NFA. T
he platform offers a range of trading options including foreign exchanges, indices, energy commodities, noble metals, spot silver, and Forex rare disks. Morningfx provides trading services through the MT5 platform and offers leverage up to 1:400.
Payment can be made through VISA, Mastercard, and Paypal, with a minimum deposit requirement of $100. Customer support is accessible via email. The platform also features educational resources such as FAQs, company and industry news, and an economic calendar to assist traders in making informed decisions.
Regulation Status
Morningfx is regulated under two different jurisdictions with distinct statuses.
Firstly, it holds a Retail Forex License from the Vanuatu Financial Services Commission (VFSC), where it is regulated as an offshore entity. The license number provided by theVFSC is 14677, indicating its registration and regulation under Vanuatus less stringent offshore regulatory framework.
Secondly, Morningfx is flagged as a suspicious clone by the National Futures Association (NFA) in the United States. It claims to hold a Common Financial Service License with the license number 0510311. However, this status as a suspicious clone suggests caution, as it indicates potential issues regarding the legitimacy or authenticity of its operations under NFA regulations.
Pros and Cons
| Pros | Cons |
| Famous Trading Platform | Suspicious Clone Regulatory |
| High Leverage | Uncertain Fee Strcture |
| Accessible Educational Resources | Limited Payment Methods |
| Diverse Trading Option | Limited Customer Support |
Pros:
Morningfx offers trading on the widely recognized and respected MT5 platform, which is known for its robust features and capabilities, attracting both beginner and advanced traders.
The platform provides high leverage up to 1:400, allowing traders to potentially increase their exposure and profit from smaller initial investments.
Additionally, Morningfx offers a variety of educational resources, including FAQs, company news, industry news, and an economic calendar, which are valuable for staying informed and making educated trading decisions.
The trading options are also diverse, including foreign exchanges, indices, energy commodities, noble metals, spot silver, and Forex rare disks, meet a wide range of trading preferences.
Cons:
Despite its offerings, Morningfx is flagged as a suspicious clone by the National Futures Association, raising worries about its credibility and the safety of funds.
The platform's fee structure is not clearly outlined, which could lead to uncertainty and unexpected costs for traders.
Payment options are somewhat limited to a few major methods like VISA, Mastercard, and PayPal, potentially restricting access for traders who prefer other payment solutions.
Additionally, customer support appears to be limited with contact available only through phone and a single email address, which may not suffice for prompt and various services, especially in urgent situations.
Products & Services
Morningfx offers a diverse range of financial products for traders to engage with, meeting various interests within the financial markets:
Foreign Exchanges (Forex): Traders can participate in the trading of currency pairs, including major, minor, and exotic currencies, which are typically known for their liquidity and potential for profitability.
Index: This includes trading on major global indices, allowing traders to speculate on the performance of a specific basket of stocks, reflecting the broader market trends.
Energy: Morningfx provides opportunities to trade in the energy sector, including commodities like oil and natural gas, which are crucial in global economic dynamics and can be quite volatile.
Noble Metals: This category includes precious metals such as gold and silver, which are often used as safe havens during periods of economic uncertainty.
Metal: Beyond noble metals, this includes trading in industrial metals like copper and aluminum, which are essential for various industries and can provide trading opportunities based on economic developments.
Spot Silver: Specifically highlighting silver trading, this allows traders to invest in spot silver markets, known for their price movements and investment potential alongside gold.
Forex Rare Disk: Although not a common term, this could refer to trading in lesser-known or less frequently traded currencies or exotic financial instruments within the forex market.
How To Open An Account？
Opening an account with Morningfx is a straightforward process that can be completed in a few steps:
Visit the Website: Start by navigating to the Morningfx website. Look for the option to create an account, which is typically highlighted or prominently displayed on the homepage.
Fill Out the Registration Form: Click on the “Create Account” or similar option, and you will be directed to a registration form. Enter all required details such as your name, email address, phone number, and any other personal information requested to set up your trading profile.
Verify Your Identity: As part of compliance with regulatory requirements, you will need to verify your identity. This usually involves uploading documents such as a government-issued ID (passport or drivers license) and a recent utility bill or bank statement to prove your address. This step is crucial for ensuring the security of your account and meeting anti-money laundering regulations.
Fund Your Account: Once your account is verified, you can proceed to fund it. Log into your new account, navigate to the deposit section, and choose your preferred payment method from the options available, such as VISA, Mastercard, or PayPal. Follow the instructions to deposit the minimum required amount, which for Morningfx is $100.
Leverage
Morningfx offers its clients a high leverage option of up to 1:400, enabling traders to significantly increase their trading exposure with a relatively small amount of invested capital.
This level of leverage can amplify both potential profits and losses, making it a powerful tool in the hands of experienced traders who understand how to manage risk effectively.
Trading Platform
Morningfx utilizes Meta Trader 5 (MT5), the world's leading advanced trading platform, known for its versatility and high-performance capabilities.
MT5 allows users to operate through various methods including a web version, a computer terminal, and mobile terminals, ensuring accessibility across different devices.
It can be downloaded as Android, IOS,PC and MAC version.
Payment Methods
Morningfx offers a range of payment methods for depositing funds, tailored to provide convenience and security. The available payment options include:
VISA: A globally recognized credit card option for secure and straightforward transactions.
Mastercard: Another trusted credit card provider used worldwide for financial transactions.
Paypal: A widely used e-wallet offering fast and safe online payments.
The minimum deposit required to open an account with Morningfx is $100, making it an accessible option for traders at different levels of investment capability. This setup is designed to facilitate easy entry into the trading market while ensuring secure transactions.
Customer Support
Morningfx offers customer support primarily through email to assist clients with their inquiries and issues. Clients can contact the support team by emailing cs@morningfx.com.
This method ensures that traders can reach out for assistance at any time and receive support directly related to their trading accounts or any technical challenges they might face.
Educational Resources
Morningfx provides a variety of educational resources designed to help traders enhance their market knowledge and trading skills. The resources include:
FAQs: A section where traders can find answers to commonly asked questions, helping them resolve common issues and understand the trading platform and processes better.
Company News: Regular updates and announcements from Morningfx, keeping traders informed about company developments, new features, or changes in trading conditions.
Industry News: Insightful articles and updates on the latest happenings in the financial markets, helping traders stay ahead of significant economic events and market trends.
Economic Calendar: A tool that lists important economic events that are likely to impact the financial markets. This calendar helps traders plan their trading strategies around major economic announcements, such as interest rate decisions or employment reports.
Conclusion
Morningfx is a trading platform based in China, offering a diverse range of financial products including forex, indices, energy commodities, and metals through the advanced MT5 trading platform.
Despite its offshore regulatory status from the VFSC and a suspicious clone warning from the NFA, Morningfx provides high leverage up to 1:400 and supports popular payment methods with a minimum deposit of $100.
The platform attracts both new and experienced traders with accessible educational resources and straightforward customer support via email.
FAQs
Question: What is the minimum deposit required to open an account with Morningfx？
Answer: The minimum deposit required to open an account at Morningfx is $100.
Question: Which trading platform does Morningfx use？
Answer: Morningfx uses the Meta Trader 5 (MT5) platform for all its trading activities.
Question: What types of products can I trade with Morningfx？
Answer: You can trade various financial products with Morningfx, including foreign exchanges, indices, energy commodities, noble metals, spot silver, and Forex rare disks.
Question: How can I contact Morningfx customer support？
Answer: You can contact Morningfx customer support via email at cs@morningfx.com.
Question: What payment methods are available for depositing funds into Morningfx？
Answer: Morningfx accepts deposits through VISA, Mastercard, and PayPal.
Keywords
- 5-10 years
- Regulated in Vanuatu
- Retail Forex License
- Suspicious Scope of Business
- High potential risk
- Offshore Regulated
Review 18
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wq123
Hong Kong
The salesman Hou Kewei deceived me into hedging at the beginning. I deposited about 100,000 yuan in total, but since July, the withdrawals have been delayed and not credited. When I asked, they said there was a limit. In the end, they couldn't deceive anymore and said they would refund 5%-10% monthly starting from November. Now it's already December and there is no information at all. I hope everyone will not believe similar platforms in the future, they are all fraudulent platforms!!
Exposure
12-04
hjgbb
Hong Kong
The platform has been delaying the withdrawals, promising to start in November, but there is still no news at the end of the month.
Exposure
11-30
hjgbb
Hong Kong
The platform is hedging, and it has been more than 3 months since the withdrawal from the account. They said it would be in credited in November. But it has not be given until now.
Exposure
11-22
币通天下
Hong Kong
A scam platform that does not allow withdrawals, account funds cannot be withdrawn, they claim it's for hedging purposes, but they don't return the principal in the account.
Exposure
11-11
ijnjkkn
Hong Kong
The platform has already run away, and the withdrawal is delayed and not credited. I reported it to the police in a timely manner. The platform and the asset management party are in cahoots. It has been exposed online. Everyone, be careful.
Exposure
09-07
hjgbb
Hong Kong
Withdrawal in January has not been credited, the company is Xi'an Yingxing Investment Co., Ltd., which has already been deregistered, but the platform is still operating.
Exposure
08-15
hjgbb
Hong Kong
The account cannot withdraw funds, the platform may run away at any time. It is possible that the funds have not flowed into the market. The salesman Hou Kewei is a scammer. He placed orders to liquidate my positions, and the funds were all into his hands.
Exposure
07-24
FX3108255373
Hong Kong
Morining fx is a fraud platform that does not withdraw profit. Attach my transaction record. The backstage arbitrarily close customers' account. The fund are not safe. Do not withdraw after making profit and try to delay it by all means
Exposure
2022-07-04
FX3108255373
Hong Kong
Followed by the post on 7.14 last year, no money was given for profit, and I tried my best to hold back customers. After posting last year. The company sent a person surnamed Liu to manage the operation of the company. He kept talking with me until now this year. During the period, some conditions were negotiated. We have already made concessions to take 60% of the profit. Just don't want to give money. There are always reasons for saying that the boss of the company is not there, and the risk control is not there. The chat records with him are only a small part of the chat from July last year to April this year. In short, this platform is a garbage platform! No profit yet! Attached are some chat records with the self-proclaimed sb, there are many more, I just post only part of it
Exposure
2022-07-04
FX3108255373
Hong Kong
Morning fx is a fraud platform that does not withdraw profit. Attach my transaction record. The backstage arbitrarily suspend customer's account. The safety of the fund cannot be guaranteed.
Exposure
2022-06-07
FX3108255373
Hong Kong
A fraud platform that can only win but not lose. Your profit cannot be withdrawn. It is like a pyramid scheme to delay your request, saying that their loss is under quaratine, there is a problem with risk-control, or on a business trip.
Exposure
2022-06-07
兴兴43693
Hong Kong
Xi'an Yingxing Investment's foreign exchange platform defrauded customers of their money and induced others to place orders for Hou Jie's mT5 account. As a result, within a few days, his true nature was revealed. He deliberately made losses, and made large positions. After losing all the principal, the position was liquidated. , Malicious loss and malicious liquidation, all the lost money was swallowed by Hou Jie, he can install a plug-in to take all the lost money, ask him for money, he will pretend to be pitiful, and not say where the company is.
Exposure
2022-05-17
FX3108255373
Hong Kong
My account 900863, after earning more than 1,000 US dollars, they did not allow the withdrawal of funds. The fraud platform that can't even log on to the account, and the company's background is closed directly. The so-called supervision is a lie. It is a fake company that runs at anytime.
Exposure
2022-04-21
FX3108255373
Hong Kong
Followed by the post on 7.14 last year, no profit was withdrawn, and I tried my best to hold back customers. After posting last year. The company sent a person surnamed Liu to manage the operation of the company. He kept talking with me until now this year. During the period, some conditions were negotiated. We have already made concessions to take 60% of the profit. Just don't want to give money. There are always reasons for saying that the boss of the company is not there, and the risk control is not there. The chat records with him are only a small part of the chat from July last year to April this year. In short, this platform is a garbage platform! No profit was arrived yet!
Exposure
2022-04-14
用心
Hong Kong
Hou Kewei, a salesman of Xi'an Yingxing Investment Management Co., Ltd., induced me to give him the account for trading, and he would get 35 percent of the profit. I have already said that as the Chinese New Year is approaching, keep some funds in the account and do not operate. Later, he promised that he would not lose money, and he would bear all the losses. And I emphasize to operate with a light position. When he holds the account, reloads the position, and the full position operation will blow up the account operation. No compensation will be given after the liquidation, and it is said that the deposit operation will continue, and then he will not share the profit after making a profit. Please avoid this platform and avoid this person.
Exposure
2022-01-27
墨名
Hong Kong
Hou Kewei, a salesman of Xi'an Yingxing Investment Management Co., Ltd., induced me to deposit 10,000 US dollars into the MT5 foreign exchange platform represented by his company, and entrusted him to operate. From August to mid-September, it took about a month, and during this period, the operation of heavy positions without stop loss continued to fail and caused my account to lose 10,000 US dollars, and I had a profit of about 10,000 US dollars during the period, because it was said that all the profits in a month were owned by him and transferred to him. At the beginning, it was agreed that it was a principal and interest guarantee agreement. No matter how much the loss was, he would make up for it and guarantee the monthly income. But since the liquidation started in September last year to January this year, it has been perfunctory and delayed, and it is impossible to make up for it, and the promised monthly income of 500 US dollars has not been realized. Choose carefully
Exposure
2022-01-28
隐20983
Hong Kong
Fraud platform. Its company locates in Lianhu District, Xi'an, China, but it doesn't provide more details about address because some users might make trouble. The profits total about $5,000 but are unable to withdraw and the account is locked. They state that the order is irregular but refuse to clarify it, which indicates a paper company. The company attempts to avoid confrontations with me. Here are my account and records of transactions for real-name reporting. Be careful of this fraud platform. There are several accounts including mine. I am unable to withdraw except principle.
Exposure
2021-07-14
FX1962622662
Hong Kong
Hou Kewei, a salesperson of Xi'an Yingxing Investment Management Co., Ltd. posted false information everywhere to deceive me into depositing fund. I did not follow the trading logic to make orders and caused me to lose more than 6,000 US dollars. The trader was agreed in advance to be responsible for the 50% retracement. After the liquidation, the trader Hou Kewei Ignore it and do not give account compensation. I hope everyone will not be deceived. Claiming that you are more professional but actually you are a bunch of scammers! Pay attention, guys
Exposure
2021-01-21