Morgen Charles

Morgen Charles is a project that guides clients on how to invest money for success. The company promises access to a professional trading platform and demonstrates several key operating principles. We even pondered if this could be a leading broker. However, later, everything fell into place. To find out what’s wrong with it and why we are confident that the firm is a scam, read our review.

Overview of Morgen Charles

Where should you look for information about a broker? Of course, primarily on pages of its official website. That’s where we started our acquaintance with Morgen Charles.

Broker History

We were interested, above all, in the company’s history. Dates, awards, achievements, and plans can instill trust in a broker. Or not, if a company doesn’t share information about itself. Morgen Charles decided to share a lot. The company was founded in 2004 and has demonstrated steady growth over the last 17 years. Throughout this time, the firm has managed a fund that has grown alongside it. There’s much more interesting information on “About Us” page. However, until these words are backed by other data, they remain just words. We will definitely verify them and draw conclusions.

Morgencharles.business Website

The official broker’s website can be discussed at length. At the very least, we can note that web designers managed to at least unify the design across all pages.

Content managers also succeeded in their task. Overall, the official Morgen Charles website is of high quality, rich in content, and, most importantly, interesting. For example, “Account Types” page excellently explains the differences between accounts for:

• Private individuals.
• Pensioners.
• Legal entities.

Regardless of the fact that all accounts (even for legal entities) are opened in the same way. Well, now we can boast knowledge.

There are other questions for the content creators. For instance, why does the company introduce itself as the asset manager of the Fourth Cinven (Railpen 2011) Co-investment Limited Partnership fund on its homepage, while on other pages, it operates on behalf of Morgen & Charles Group, Inc., which includes 4 subdivisions? And there are many more questions like these. In general, the website rating looks like this: design 5 stars, content 2 stars. However, since content is much more important, the overall rating is 2.

Registration Process and Personal Account

Descriptions of all accounts end with the transition to registering a new client. A registration form looks the same, regardless of which account is being opened. It looks fairly simple and requires filling out only a few fields.

To open an account, you need to enter the following fields:

• First and last name.
• Email.
• Password.
• Phone number (you must first select the country of residence to receive a code).

It is also mandatory to check boxes confirming that you are over 18, have read and accepted the Terms & Conditions, and are not a U.S. citizen.

Interestingly, the broker doesn’t place links to other documents. Although, according to standards for providing brokerage services, it should request consent to at least two more provisions: Privacy Policy and Risk Disclosure. However, they aren’t on the website at all, so there’s nothing to agree to.

Of course, one could compare the registration forms of Morgen Charles and any regulated broker and find a dozen differences. However, we don’t set ourselves the task of showing that the company operates outside the legal field.

After a quick and simple registration (even data verification isn’t carried out), a user goes directly to the trading platform. From here, there’s an opportunity to go to their personal account and be surprised.

Morgen Charles’ clients can perform the following actions here:

• Edit account details, including changing a password and enabling 2FA.
• Submit copies of documents for verification.
• Request a withdrawal of funds.
• View the history of monetary transactions and trading deals.

The verification section looks particularly interesting. Morgen Charles claims to operate in accordance with KYC policy, so it requests copies of documents to verify a client’s entered data. At the same time, it doesn’t request any other data besides what was entered. The question arises: what do the company’s representatives intend to verify if there is simply no address in the client’s info?

Trading Platform

Morgen Charles claims that its platform is a new word in trading. However, if you take a closer look at the terminal, it turns out that it’s not quite the case.

What do we see?

• Market overview in the left workspace area.
• Chart space on the right.

The market overview didn’t turn out as expected. It seemed that by dividing a list of available assets into several categories (such as currency pairs, indices, stocks, etc.), developers simplified and accelerated the search. However, for quick access to the desired ticker, you’ll have to:

• Close the current tab.
• Switch to a new one.
• Open it.
• Only then select an instrument.

All this involves a waste of time, and you can’t move needed tickers to a separate tab (e.g., Favorites). So, you’ll have to struggle with the choice, especially when working with several instruments from different categories.

The chart window is created by TradingView, and perhaps that’s great. However:

• The ability to use multiple charts simultaneously isn’t provided.
• Connecting other indicators or trading robots isn’t included in the set of functions (or isn’t documented).
• Chart and indicator settings aren’t saved.

And, finally, the last point: is it convenient to use a trading window in the market overview? From our point of view, this creates additional problems.

Perhaps, one shouldn’t pay attention to the listed problems because Morgen Charles claims to work exclusively in the long term. However, we’re ready to object. The broker itself may only open long-term positions, but who prevents its clients from doing so?

Contacts

On the corresponding page, Morgen Charles publishes all possible channels of communication with company representatives:

• Email: support@Morgencharles.com.
• Phone numbers: +44 203 8343337, +1 (226) 6397666.
• Mailing address: Warwick Court, Paternoster Square, London, EC4M 7AG, United Kingdom.
• Feedback form.

Everything looks great until you start digging:

• Why is there no indication of office numbers in the mailing address? It seems that they are showing us the address of a rented virtual office, and the project doesn’t have a real address.
• Why does the broker have a phone in London (UK) and London (Canada), but not in France and Germany, which are its targeted regions?
• Why does Morgen Charles not have any presence on social media? In 20 years on the market (since 2004), was there no time or resources to create them?

As a result, interesting assumptions arise. We can assume that the platform has been operating for a very short time. Another interesting conclusion is that the broker most likely operates without official registration. However, we will check this out a bit later.

Analysis of Services Offered by Morgen Charles

We’ll postpone the verification of legal data for a later date. Currently, we’re interested in how transparent and honest the broker operates. What did our review reveal?

Funding and Withdrawal

The official website of Morgen Charles doesn’t mention anything about methods of depositing and withdrawing funds. The only place where we found a list of payment methods is in “FAQ” section. Here, the company states that the following options are available for deposits/withdrawals:

• Bank transfers.
• Debit/credit cards.
• E-wallets.

However, on the trading platform, after clicking “Deposit” button, a list appears, and only card deposits in USD or GBP are available. The second option doesn’t work. Depositing via Marvell Pay requires providing complete card details and owner information.

The most interesting part is that the recipient of the funds remains unclear. However, we were prepared for this — Morgen Charles takes measures to keep its details private to avoid unwanted attention from tax authorities.

Morgen Charles Trading Conditions

The broker offers traders a wide range of account types:

• Individual. A personal brokerage account for individual traders with only one owner.
• Joint with Right of Survivorship. This account has two owners.
• Joint Tenants in Common. This account has two or up to three owners.
• Custodial. Custodial account types are established for a minor and managed by a guardian on the minor’s behalf.
• An all-in-one IRA solution. The all-in-one solution to actively manage your retirement savings. Invest in crypto, stocks, and options in your IRA while gaining a potential tax advantage.
• Traditional IRA.
• Roth IRA.
• Rollover.
• Trust.
• Corporation.
• General Partnership.
• Limited Partnership.
• Limited Liability Company.
• Sole Proprietorship

This could potentially require Morgen Charles to manage three different account types for private clients, retirees, and corporate clients. However, clicking “Open Account” button consistently leads to the same registration form.

In conclusion, things are not so straightforward. It’s possible that the same form is used for private clients and retirees, but entirely different forms may be used for corporate accounts. Yet, during registration and afterward, we haven’t noticed any distinctions.

As for trading conditions, Morgen Charles has chosen to keep them undisclosed. The participant will find out about minimum deposits, spreads, leverage, etc., only when attempting to open a trade. Will it be too late?

Is Morgen Charles Trustworthy and Reliable?

We have come to the main question — the checking of the broker’s official data. In fact, we have already drawn our conclusions. Now we’ll show why we consider Morgen Charles a scam project.

Assessing Legitimacy

The information provided by founders is sufficient for conducting checks and obtaining accurate data on whether the firm is indeed what it claims to be.

Let’s start with the main page. In the footer, there’s information that:

• Morgen Charles claims to be a subsidiary of Fourth Cinven (Railpen 2011) Co-investment Limited Partnership.
• Financial operations, account management, and liquidity are handled by Gemini Inc.

Let’s see what we get when we check. Since all companies are British, finding information about them should be relatively easy. Just take a look at the Companies House database.

Indeed, Fourth Cinven (Railpen 2011) Co-investment Limited Partnership exists at the specified address. However, with a slight correction — the company’s name looks somewhat different than Morgen Charles, namely Fourth Cinven Fund (Railpen 2011) Co-investment Limited Partnership. A minor detail — they forgot the word “fund” in the name. However, this practically changes everything.

As for Gemini Inc., we were unable to find any information. Nevertheless, we will leave this to the broker’s responsibility and try to find Morgen Charles itself.

Morgen Charles isn’t listed on the registry. We tried to find any of the companies within Morgen & Charles Group Inc. but also failed.

Still, we decided to check if the company has a license. A search in the FCA provided additional information. Such a company is indeed listed, but it was created in July 2023. However, the data obtained from the FCA is from the same website where we found it. The company hasn’t applied for a license.

It turns out that Morgen Charles has created a legend that can deceive almost anyone. Only checks in the registries and with the regulator allowed us to expose this scam.

Established Track Record

We could have skipped this, but we promised to determine Morgen Charles’ operating period. Since we no longer believe in the company’s creation in 2004, we have to turn to “whois” service, where we can find the domain registration date.

So, the Morgen Charles domain was officially registered on August 1, 2023, and the organization was created 10 days before that, on July 21, 2023 (according to FCA data). Thus, the claimed “20 years” turned into 5 months. Based on this information, the pseudo-broker may already be on the verge of a scam, and funding accounts here isn’t recommended.

Implications for Traders

Morgen Charles is a fraudulent project that created a convincing backstory, allowing it to collect funds from users. However, it turns out that it operates without official registration and a license. Additionally, it doesn’t disclose trading conditions, and information posted on its official website can’t be trusted. We strongly advise against depositing funds on this platform to avoid losing all your assets.

Strengths and Weaknesses