Morton Finance promises to provide risk-free investments to its online users. But is this binary options trading broker capable of fulfilling what it has pledged? Or is Morton Finance just the next lousy scam?
Our inquiry into the matter tried to find out the most thorough and extensive data available on the web about Morton Finance. The results follow below. But as this binary investment broker is still quite new, there is close to no accessible information.
More facts need to be gathered for us to recommend Morton Finance as legit. Or deem it as an investment scam. Until then, we advise all our users to turn to a proven to be trusted and reliable binary trading broker. View our preferred selection of the BEST legitimate and most respectable binary options brokers and check up their full review so that you can enjoy a more safer trading experience!
Because we were not able to come up with more trustworthy data on Morton Finance, we cannot confirm that investing with this binary options broker is recommendable. You can Trade with Trusted Broker OR Sign Up with one of the approved and safe Binary Options Brokers.
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Morton Finance – Binary Review
Morton Finance was launched in 2015. They are an online broker that offers binary options trading platform and services to clients. The broker is quite new in the market and they are not popular among traders. But does Morton Finance have what it takes to become a trustworthy and reliable broker? Let’s find out in this review if Morton Finance is legit or a scam broker.
Is Morton Finance Legit?
One of the major red flags is that Morton Finance is not a licensed broker. They are not regulated by any financial regulatory body which basically means that there is no protection for your funds and your personal information when you deal with them. The broker has failed to earn a good reputation in the industry.
They have several negative reviews in their name. It appears that the majority of the traders are unhappy with their withdrawal procedures. Traders have not been able to get their earnings transferred and have also faced locked and suspended accounts when trying to withdraw their money. The broker doesn’t have transparent policies and it seems that they have a lot to hide so they can keep their customers in the dark. Our overall impression about Morton Finance has been really bad and from our investigation, we have found no reason to consider them or recommend them to our traders.
Morton Finance Trading Platform
We are not currently aware of the trading platform that Morton Finance operates on. It appears that their platform is basic with an average selection of assets and trading tools. They offer 60 seconds and high/low options with multiple expiry times. They only support in English language. We don’t know who their owners are or where they are located because all these crucial information that should be visible to the public are not available.
Account Types and Bonuses
Depending on your initial investment, you can set up any of the 4 account types with the broker. Their Entry level account can be started with a minimum deposit of $350 and a maximum deposit of $9,999. If you are planning to open their Preferred account, you must deposit between $10,000 and $99,999. Their Signature Account starts at $100,000. Their last type of account is known as the Premium Account and you can open it by making a minimum deposit of $500,000. Bonuses range from 100% to 150%.
Deposit & Withdrawal Procedures
There are only two methods for making a deposit. These include bank transfer and credit cards. To make a withdrawal, you can use the same methods including some ewallet options as well. The withdrawal procedures are very tricky and not much information is available on their website regarding the minimum and maximum amounts, the fees and the processing time. The minimum deposit amount is $350 and we think that this amount is too high given that the industry standard is about $250.
While the majority of the brokers offer telephone, email and live chat services to their clients, Morton Finance offers only telephone and email. They don’t offer live chat support which is the most preferred means of communication. Traders who encounter issues during trading find it easy to get their issues resolved via live chat because it is instant. But with Morton Finance, this is not an option.
What if you reside in any other country? In that case you have to make an international call and if your call goes on waiting, then it can get very costly for you. What we have basically experienced is that the broker is not bothered about offering support to their clients. From what we have found so far, they hardly respond to emails.
The Morton Finance binary options trading broker is one that can not be determined conclusively as a legit or fraudulent one.
Still, there is a very fair chance that it is a scam. We were not able to find out much available data about it online, so the matter remains dubious. What we can advise traders is to opt for a binary broker that is proven to be reliable and trustworthy. There are some very solid ones.
But it would be best to not execute any trades with Morton Finance. It has yet to build a reputation.