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I opened an account before they got banned from the U.S. MAKE NO MISTAKE TO OPEN UP AN ACCOUNT WITH THEM. IF I COULD GIVE THEM 0 STAR I WOULD HAVE DONE SO. Today, they open up some trades in my account, in order to blow my account and they has stolen all my profit!!!! WHICH WAS A LOT OF MONEY, YES A LOT OF MONEY. GROUP OF CRIMINAL. MY GOD WILL PUNISH THEM.
Hello, unfortunately I am a victim of the FX broker name Morning sky. I met this guy called “Li Hanchen” through a dating app, I invested $10,000 and I added $5000 to my account. The thing is that he tried to get me to invest more and I completely refused to it and then he got angry and stop texting me that's when I realized I shouldn’t have done that and then tried to withdraw my investment which was around 7k with the taxes I paid, the rest of the money still in my MT4 and I will never withdraw more since I think the scammer is the broker not MT4.
Note: Morning Skys official site - https://www.mstrade.uk/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
|Morning Sky Review Summary in 10 Points|
|Registered Country/Region||United Kingdom|
|Market Instruments||forex currency pairs, spot metals, CFDs on indices, and spot indices|
|EUR/USD Spread||From 0.5 pips|
Morning Sky is Online Trading broker offering Meta Trader4 trading platforms, over 50 tradable instruments in forex, spot metals, CFDs, and spot indices. Morning Sky server retail and institutional customers from over 180 countries in Europe, Asia, the Middle East, Africa and Latin America. The broker claims to have registered a Common Financial Service License from NFA with registration number 0544940. However, the license is unauthorized.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
|• Wide range of trading instruments||• Unauthorized NFA license|
|• Low minimum deposit||• Unavailable website|
|• Tight spreads||• Reports of scams|
|• Commission-free||• Limited trading account types|
|• MT4 supported||• Only email support|
There are many alternative brokers to Morning Sky depending on the specific needs and preferences of the trader. Some popular options include:
IronFX - a well-established broker with a diverse range of trading instruments and strong regulatory oversight.
Windsor Brokers - for traders looking for a regulated broker offering competitive trading conditions and a variety of trading platforms.
BlackBull Markets - a reliable choice for traders seeking low-latency trading, deep liquidity, and access to a wide range of trading instruments in a regulated environment.
Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
Based on the information provided, Morning Sky is an unregulated broker with an unauthorized license from the National Futures Association (NFA, License No. 0544940). Additionally, the fact that their website is currently unavailable raises concerns about their legitimacy and reliability. Trading with an unregulated broker carries significant risks, as there is no oversight or protection for clients. It is advisable to exercise caution and consider alternative regulated brokers with a proven track record for safety and compliance.
Morning Sky offers a diverse range of tradable instruments across various financial markets. Traders can access over 50 instruments, including forex currency pairs, spot metals like gold and silver, CFDs (Contract for Difference) on indices, and spot indices. This selection provides clients with the opportunity to engage in multiple markets and diversify their trading portfolios.
However, it is important to note that Morning Sky is an unregulated broker, and trading with unregulated entities carries significant risks due to the lack of oversight and investor protection. Traders should carefully consider these factors before deciding to trade with Morning Sky.
Morning Sky offers two types of trading accounts: Standard and Copy Trade accounts. With the Standard account, traders can access a wide range of financial instruments and utilize various trading strategies. The minimum deposit requirement for the Standard account is $50, making it accessible to traders with different budget sizes.
On the other hand, the Copy Trade account is designed for those who prefer to follow and replicate the trades of successful traders. This account type allows traders to automatically copy the trades of experienced traders in real-time, offering an opportunity for beginners to learn from and potentially profit from the expertise of others.
The maximum trading leverage offered by the Morning Sky is relatively high, reaching up to 1:500 for forex trading. Leverage allows traders to amplify their trading positions by borrowing funds from the broker, which can potentially result in higher profits.
However, it's important to note that while leverage can enhance potential gains, it also increases the level of risk. Higher leverage means that even small market movements can have a significant impact on the trader's account.
Morning Sky offers competitive spreads on both its Standard and Copy Trade accounts. The spreads start from as low as 0.5 pips, which is a favorable condition for traders looking to minimize their trading costs. Additionally, Morning Sky does not charge any commissions on trades, which further enhances the cost-effectiveness of trading with this broker.
Below is a comparison table about spreads and commissions charged by different brokers:
|Broker||EUR/USD Spread (pips)||Commissions|
Please note that these figures are for informational purposes and may vary depending on market conditions and account types. It's always recommended to check with the respective brokers for the most accurate and up-to-date information.
Morning Sky provides its traders with access to the popular MetaTrader 4 (MT4) trading platform. MT4 is widely recognized and appreciated by traders for its advanced features, user-friendly interface, and robust trading capabilities. With the MT4 platform, traders can access a wide range of trading tools and indicators, enabling them to analyze the markets, execute trades, and manage their positions efficiently.
The platform is available for Windows, iOS, and Android devices, allowing traders to trade anytime and anywhere using their preferred device. Whether traders are beginners or experienced professionals, the MT4 platform offered by Morning Sky ensures a seamless trading experience with its stability, speed, and comprehensive functionality.
See the trading platform comparison table below:
|Morning Sky||MetaTrader 4 (MT4)|
|IronFX||MetaTrader 4 (MT4), MetaTrader 5 (MT5)|
|Windsor Brokers||MetaTrader 4 (MT4), MetaTrader 5 (MT5), WebTrader|
|BlackBull Markets||MetaTrader 4 (MT4), MetaTrader 5 (MT5), WebTrader|
Deposit and withdrawal methods are missing on the Morning Sky website. However, there is a logo indicating the possibility of using wire transfer as a payment method. It is important for traders to have clarity and transparency regarding deposit and withdrawal options, as well as any associated fees or processing times.
|Morning Sky||Most other|
Morning Sky's customer service support can be contacted through email at email@example.com. Additionally, it is positive to see that Morning Sky openly provides its company address, which is located at 64A Cumberland St, Edinburgh EH3 6RE, UK.
However, traders should keep in mind that the availability and quality of customer service are crucial factors to consider when choosing a brokerage, and it is advisable to have multiple channels of communication available for prompt and efficient support.
|• Company address is revealed openly||• No 24/7 customer support|
|• No live chat or phone support|
|• Only email support|
Note: These pros and cons are subjective and may vary depending on the individual's experience with Morning Sky's customer service.
On our website, you can see that some reports of scams. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.
Based on the available information, it is essential to exercise caution when considering Morning Sky as a trading platform. The lack of regulatory authorization and the unavailability of the website raise concerns about its legitimacy and transparency. Traders should carefully evaluate the risks associated with trading on an unregulated platform and conduct thorough research before engaging with Morning Sky. It is advisable to choose reputable and regulated brokers to ensure the security of funds and a reliable trading environment.
|Q 1:||Is Morning Sky regulated？|
|A 1:||No. Morning Sky National Futures Association (NFA, License No. 0544940) is unauthorized.|
|Q 2:||Does Morning Sky offer the industry leading MT4 & MT5？|
|A 2:||Yes. It supports MT4.|
|Q 3:||What is the minimum deposit for Morning Sky？|
|A 3:||The minimum initial deposit to open an account is $50.|
|Q 4:||Is Morning Sky a good broker for beginners？|
|A 4:||No. It is not a good choice for beginners. Not only because of its unregulated condition, but also because of its inaccessible website.|
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