Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighNo licence from any financial regulator while taking retail deposits, and a St. Vincent company registration presented in the client agreement as a licence and as regulatory authorisation the St. Vincent FSA says it does not grant.
Identity & transparency
7/10 · HighEntity, registration number and a Tbilisi office are disclosed, but five different locations appear across its own channels, two of them well-known mail-forwarding addresses, no UK company exists behind the London address, and no owner or director is named.
Withdrawals & conduct
6/10 · HighFund-integrity reports describe withdrawals refused for a scalping-policy breach and accounts blocked, matching a clause in the broker's own contract, but they sit on one platform, meet only two of the four pattern tests, and one client reports being paid easily.
Reputation
6/10 · HighAlmost no independent footprint for a firm advertising tens of thousands of accounts: no Trustpilot reviews, nothing on Reddit, and the visible negative content is recovery-service spam, while third-party risk assessments are uniformly negative.
Website claims
8/10 · CriticalClaims a regulatory status that does not exist, overstates its history by about four years with its own channels giving conflicting founding dates, and names the UK, UAE and US as restricted while claiming offices in all three. Awards are genuine expo honours and risk warnings are published.
Operational history
6/10 · HighAbout five years of genuine continuous operation under one brand since February 2021, with no predecessor or domain recycling, but advertised as over nine years with no evidence for the gap, so the history is scored as misrepresented rather than established.
Who they are
A quick desk file on the company behind the brand.
- Brand: Morfin FX (also styled Morfin FX Global)
- Legal entity: Morfin FX LLC, registration 1539LLC2021
- Registered: Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent and the Grenadines, an address shared by a large number of offshore broker shells
- Operating office: Office no. 47, Merani Business Center, 31a Alexander Griboedov St, Tbilisi, Georgia, published on the firm's own contact page
- Also claimed: a Dubai head office, plus addresses at 71-75 Shelton Street in London and 30 N Gould St in Sheridan, Wyoming, all listed on its LinkedIn page
- Website: morfinfx.com, with the client area at my.morfinfx.com
- Only licence: none. A St. Vincent company registration is presented as regulation
- Offers: MetaTrader 5 trading in forex, metals, shares, indices and crypto, plus PAMM, MAM, copy trading and an IB programme
- Not accepted: residents of the United States, United Kingdom, UAE, India, Cuba, Iraq, Myanmar, North Korea and Sudan, according to the site's own footer
- Age claim: 'over 9 years of experience' on the site, 'Founded 2018' on LinkedIn, against records that begin in 2021
- Contact: a Slovak landline (+421 23322 1500) and a UAE WhatsApp number (+971 586259739)
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: No
We could not confirm this broker on any genuine regulator’s register.
Licences the broker publishes
St. Vincent and the Grenadines Financial Services Authority (company registration presented as regulation)
Why we reached this verdict
How the evidence adds up.
Four documented problems drive this verdict, and each one is sourced from either the regulator's own words or the broker's own documents.
- The regulatory claim refutes itself. The Morfin FX client agreement states the company holds 'License number 1539LLC2021' and is 'authorized and regulated by ST. VINCENT AND THE GRENADINES'. The St. Vincent and the Grenadines Financial Services Authority states in its own published notices that it 'does NOT issue licences for Forex trading or brokerage activities in this jurisdiction' and that it 'does NOT regulate or license Business Companies (BCs) or Limited Liability Companies (LLCs) engaged in Forex trading or brokerage'. The number is a company registration. There is no financial licence behind it, and no licence of that kind exists to be held.
- No licence from any regulator. A keyword search of the IOSCO alerts network, which aggregates the warning lists of more than 150 regulators, returns no entry for this name, and we found no authorisation from the FCA, ASIC, CySEC, the CFTC or any other authority. The firm takes retail deposits for live market trading with no supervision of any kind.
- The track record is overstated by about four years. The domain morfinfx.com was created on 17 February 2021. The company number 1539LLC2021 is a 2021 registration, and independent broker directories date the firm to 2021. The site nevertheless says 'For over 9 years, we have been helping traders from around the world access the international stock market', while the firm's LinkedIn page gives a founding year of 2018. We found no predecessor brand, no earlier domain and no archive history that would support a longer record. The real figure rests on the domain registration and the 2021 vintage of the company number, so treat roughly five years as an upper bound: the registry itself could not be used to date the company.
- The contract is written so a withdrawal can be refused. Clause 33 sets a minimum trade duration of three minutes for metals and currency pairs and five minutes for cryptocurrencies and other assets, then adds that if profits from scalping exceed ten percent of the total profits in the account, 'the Company reserves the right to reject the entire profit withdrawal request'. Elsewhere the agreement makes expert advisors subject to pre-approval and disclaims liability for 'any capital funds that may be affected', treats scalping as an event of default allowing the company to debit and combine client accounts, and states that 'The Company reserves the right to decline withdrawal requests'. None of this appears in the separate withdrawal and refund policy, which promises payment within five business days.
Those contract powers are not theoretical. Traders report withdrawals refused for breaching the scalping rule and blamed on liquidity-provider problems, including an account blocked after trades were held well past the stated minimum, and reports of Indian clients being shut out. We could confirm the mechanism in the contract but found those accounts on only one platform, so we treat the complaint pattern as unconfirmed rather than proven.
Two further things weigh against the firm. Its corporate footprint is spread across five locations across its own channels, two of which, Shelton Street in London and 30 N Gould St in Sheridan, are among the best known mail-forwarding addresses in their countries, and the UK Companies House register holds no company called Morfin FX at all. And the site tells visitors it does not serve residents of the United Kingdom, the UAE or the United States while its LinkedIn page claims a Dubai head office and UK and US addresses, its only live chat channel is a UAE mobile number, and its published testimonials are credited to clients in the UAE and the UK. One of those two statements is untrue.
On this evidence we assess the risk of fraud as high. We stop short of a confirmed verdict because the strongest category of proof is absent: no regulator has acted, no court record names the company, and the operation is in other respects real.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The Morfin FX client agreement describes company number 1539LLC2021 as a 'License number' and states the company is 'authorized and regulated by ST. VINCENT AND THE GRENADINES'.
E2The St. Vincent and the Grenadines Financial Services Authority states in its published notices that it 'does NOT issue licences for Forex trading or brokerage activities in this jurisdiction' and 'does NOT regulate or license Business Companies (BCs) or Limited Liability Companies (LLCs) engaged in Forex trading or brokerage', so the regulatory status claimed in E1 does not exist.
E3Clause 33 of the client agreement sets a minimum trade duration of three minutes for metals and currency pairs and five minutes for other assets, and states that where scalping profits exceed ten percent of total account profits, the company reserves the right to reject the entire profit withdrawal request. The same agreement makes expert advisors subject to pre-approval while disclaiming liability for capital funds affected, treats scalping as an event of default allowing client accounts to be debited and combined, and reserves the right to decline withdrawal requests.
E4The domain morfinfx.com was created on 17 February 2021 through GoDaddy, which places the operation's start in 2021 and contradicts the advertised history.
E5The about page states 'For over 9 years, we have been helping traders from around the world access the international stock market', and the homepage says the firm is 'Backed by over 9 years of experience', roughly four years more than any record supports.
StrongMorfin FX about pageE6The company's own LinkedIn page, whose website field is morfinfx.com, gives a founding year of 2018 and claims 9+ years of experience, contradicting both the website and the 2021 records, and lists a Dubai head office plus 71-75 Shelton Street in London and 30 N Gould St in Sheridan, Wyoming, two addresses widely used for company mail forwarding.
E7The website footer states the firm does not provide services to residents of the United States, United Kingdom, UAE and India, while its only chat channel is a UAE mobile number and its published testimonials are credited to clients in the UAE and the UK. One of those statements must be untrue.
ModerateMorfin FX homepageE8No company named Morfin FX appears on the UK register of companies, despite the London address published on the firm's LinkedIn page.
ModerateUK Companies HouseE9Reports from traders describe withdrawals refused for breaching a scalping policy and blamed on liquidity-provider problems, with one account blocked after trades were held past the stated minimum duration, and Indian clients shut out. The mechanism matches clause 33 of the broker's own contract, but the reports appear on a single platform and are not independently corroborated.
ModerateA third-party broker directoryE10The separate withdrawal and refund policy promises completion within five business days and contains no scalping, holding-time or profit-cancellation clause, so the restriction that clients report being refused under is absent from the document they would read about withdrawals.
E11A keyword search of the IOSCO alerts network, which aggregates the warning lists of more than 150 member regulators, returns no warnings matching this name.
E12The St. Vincent FSA investor alerts page does not name Morfin FX, although the authority does publish notices about offshore firms, including one about a company using a fabricated St. Vincent registration number.
E13The trading platform page offers MetaTrader 5 and links downloads to the official MetaQuotes distribution rather than a self-hosted installer, and a live MT5 server registered under the legal entity name exists, which rules out the fake-terminal pattern and indicates a real trading operation.
ModerateMorfin FX trading platform pageE14The three reviews on the per-domain review page for morfinfx.com are recovery-service advertisements rather than client complaints: one names a recovery firm, and the longest ends with a Gmail address and a WhatsApp number, with letters spaced out to evade filters, and never names this broker. The widely repeated 275,000 dollar withdrawal story originates there and carries no weight against this firm.
ModerateReviews.io page for morfinfx.comE15The Trustpilot page for morfinfx.com holds no reviews at all, with the business profile created in September 2026, an unusually thin footprint for a firm advertising tens of thousands of accounts opened.
WeakTrustpilotE16An independent broker review site records a comment dated 10 September 2026 describing the broker as trusted with a very easy withdrawal, alongside its own high-risk assessment of September 2025 noting that the St. Vincent registration does not constitute a valid financial licence.
ModerateBrokersView broker reportE17An independent broker directory dates the company to 2021 and records the same entity, number 1539LLC2021 and St. Vincent address, corroborating the 2021 start date from a source other than the domain record.
ModerateGlobegain broker profileE18The broker's own contact page publishes an operating office at Office no. 47, Merani Business Center, 31a Alexander Griboedov St, Tbilisi, Georgia, together with a Slovak landline and a UAE WhatsApp number, none of which match the jurisdiction of the contracting entity.
ModerateMorfin FX contact pageE19An independent review site identifies the absence of disclosed minimum deposit, spreads, leverage and account types, and notes the absence of guaranteed funds, segregated accounts and negative balance protection compared with brokers under UK, EU, Australian or US supervision.
E20The St. Vincent FSA's own description of a limited liability company confirms the type is formed for general business activities and makes no reference to financial services permission, which is what number 1539LLC2021 represents.
The other side
The strongest case in this broker’s favour.
The case for Morfin FX deserves a fair hearing, and several things here cut in its favour.
- No regulator has warned about it. After more than five years of trading, the IOSCO alerts network returns nothing, and the St. Vincent FSA investor alerts page, which does name offshore firms and has published a notice about another company using a fabricated St. Vincent registration number, does not name Morfin FX. There is no enforcement action and no fraud-related court record naming this entity.
- The trading operation is real. A live MetaTrader 5 server registered under the legal entity name, MorfinFXLLC-Server, exists, and the download links on the site point to the official MetaQuotes distribution rather than a self-hosted installer. That rules out the fake-terminal pattern common to pure boiler rooms, and it means orders are going into real platform infrastructure.
- The awards are not invented. The six awards on the homepage name real, identifiable industry expos, and third-party event coverage reports the Smart Vision Investment Expo 2023 award and a sponsorship of the Forex Traders Summit in Dubai. These are low-value trade-show honours rather than independent assessments, and the firm paid to sponsor one of those events, but they are not fabrications.
- The loudest scam content is not from clients. The three reviews on the main per-domain review page for morfinfx.com are not customer complaints at all. They are recovery-service advertisements, one naming a recovery firm and one ending in a Gmail address and WhatsApp number, with letters spaced out to dodge filters. The dramatic 275,000 dollar withdrawal story circulating about this broker comes from that spam and does not even name the company. Anyone treating it as a client report is being misled.
- At least one client reports being paid. A comment dated 10 September 2026 on an independent broker review site describes the withdrawal as very easy, which is the opposite of what a systematic non-payment operation produces.
- It discloses itself. The legal entity, its registration number and a registered address are named consistently across the website, the client agreement and LinkedIn, the firm publishes AML and KYC, privacy, risk and withdrawal policies, and it prints a prominent risk warning. Many of the worst offshore operations disclose none of this.
- Offshore is not automatically fraud. Hundreds of genuine brokers operate from weak jurisdictions. We also tested whether this could be a regional arm of a larger licensed group, a rebrand carrying an older history, or a prop firm needing no licence. None of those hold: there is no parent group, no predecessor brand or domain, and the firm takes live client deposits.
What would change this
What we would need to see to revise the verdict.
This verdict is built on documents, so specific, checkable changes would move it.
- Towards a better rating: a genuine trading licence from a real financial regulator, verifiable on that regulator's own register under the name Morfin FX LLC and covering the entity that holds client money.
- Removing the statement that the company is 'authorized and regulated by St. Vincent and the Grenadines' and the description of 1539LLC2021 as a 'License number', and saying clearly that the firm is unlicensed and the number is a company registration.
- Correcting the history. Replacing 'over 9 years' with the real 2021 start date, and aligning the LinkedIn founding year with it, would remove the age misrepresentation entirely.
- Deleting the clause that allows an entire profit withdrawal to be rejected over scalping, or replacing it with a narrow, measurable rule that cannot swallow a whole balance.
- Reconciling the locations: a named registered company behind the London and Dubai addresses, or dropping addresses the firm has no entity at.
- A visible record of paid withdrawals. Independent, dated client reports across more than one platform showing larger sums leaving the platform would weaken the central concern.
- Towards a worse rating: a warning notice from any regulator naming morfinfx.com, an enforcement action, or three or more detailed withdrawal-refusal reports from different clients on separate platforms inside one window. Any one of those would push this to a confirmed verdict.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
St. Vincent FSA notice: it issues no forex licences
The regulator's own wording that it does not license or regulate LLCs doing forex business.
St. Vincent FSA Entity Name Search
The authority's register of international entities, where a St. Vincent company number would be listed.
St. Vincent FSA investor alerts
The authority's warning notices. Morfin FX is not named on it.
IOSCO alerts search for this name
Searches the warning lists of more than 150 regulators at once. No result.
Morfin FX client agreement
The contract containing the licence wording and the clause on rejecting profit withdrawals.
What a St. Vincent LLC registration is
The authority's own description of the company type behind number 1539LLC2021.
UK Companies House search for Morfin
No company named Morfin FX exists on the UK register, despite the London address on its LinkedIn page.
Domain registration record for morfinfx.com
Shows the creation date of 17 February 2021.
Trustpilot page for morfinfx.com
The per-domain review page. No reviews at the time of writing.
Frequently asked questions
Quick answers about this broker’s safety.
Is Morfin FX a scam?
We rate Morfin FX a likely scam, at 73% risk. It holds no financial licence from any regulator, and its own client agreement tells clients it is authorised and regulated by St. Vincent and the Grenadines, a status the St. Vincent FSA says it does not grant for forex business. It also advertises over nine years of operation when records begin in 2021.
Is Morfin FX a fraud?
No regulator or court has found Morfin FX guilty of fraud, and we found no enforcement action or fraud-related court record naming the company. On the documents available, we assess the risk of fraud as high: the regulatory claim is false, the stated history is overstated by about four years, and the contract allows an entire profit withdrawal to be refused.
Is Morfin FX regulated?
No. Morfin FX holds no licence from any financial regulator. The number it publishes, 1539LLC2021, is a St. Vincent and the Grenadines limited liability company registration, which is a company formation record and not permission to run a brokerage. The St. Vincent FSA states it does not issue forex licences and does not regulate LLCs engaged in forex business.
What is a St. Vincent and the Grenadines registration actually worth?
Very little for a trading client. It confirms a company was formed, nothing more. There is no capital requirement, no supervision of how client money is held, no audit of trading conduct and no compensation scheme. The St. Vincent authority has told brokers registered there that they must get a licence from the regulator where their clients live.
Can I withdraw my money from Morfin FX?
Some clients report being paid, including one who described withdrawal as very easy. Others report refusals blamed on a scalping-policy breach and liquidity-provider problems, with accounts blocked. The contract gives the company wide grounds to refuse, so withdrawal is not something you can rely on.
What is clause 33 of the Morfin FX client agreement?
It sets a minimum trade duration of three minutes for metals and currency pairs and five minutes for cryptocurrencies and other assets, and then states that if profits from scalping exceed ten percent of the total profits in the account, the company reserves the right to reject the entire profit withdrawal request. That is a discretionary power to withhold a whole profit balance.
Is my money safe with Morfin FX?
No. With no licence there is no requirement to keep client funds segregated from company money, no negative balance protection and no deposit compensation. If the company stops paying, there is no regulator with authority over it and no scheme to claim from.
How old is Morfin FX really?
About five years. The domain morfinfx.com was registered on 17 February 2021, the company number 1539LLC2021 is a 2021 registration, and independent directories date the firm to 2021. The website claims over nine years and its LinkedIn page says 2018. We found no earlier brand or domain that would support either figure.
Who owns Morfin FX and where is it based?
The contracting company is Morfin FX LLC, registered in St. Vincent and the Grenadines at Suite 305, Griffith Corporate Centre. Its contact page gives an operating office in Tbilisi, Georgia, while its LinkedIn page claims a Dubai head office plus addresses in London and Sheridan, Wyoming. No individual owner or director is named anywhere on the website.
Is Morfin FX a clone of another broker?
No. We found no sign of impersonation. The company registration number, entity name and brand belong to this operation rather than to some other firm, and nothing it publishes borrows another company's licence or identity.
Why do I see dramatic scam stories about Morfin FX online?
Be careful with those. The three reviews on the main per-domain review page for morfinfx.com are recovery-service advertisements, not client complaints, complete with a Gmail address and WhatsApp number and letters spaced out to dodge filters. The widely repeated 275,000 dollar story comes from that spam and does not even name the broker.
Has any regulator warned about Morfin FX?
Not that we can find. A search of the IOSCO alerts network, which aggregates the warning lists of more than 150 regulators, returns nothing for this name, and the St. Vincent FSA investor alerts page does not name the firm. Warning lists lag new cases by months, so absence is not clearance.
I think I was scammed by Morfin FX. What should I do?
Stop sending money, especially any payment described as tax, fees or insurance to release funds. Save every message, ticket and payment record. Contact your bank or card issuer at once about a chargeback, and report it to the police or financial crime unit where you live. Ignore anyone offering to recover your funds for an upfront fee.
What should I check before depositing with any broker?
Find the licence number on the regulator's own register, not on the broker's website, and check that the entity named on the register is the same one taking your money. Then read the withdrawal clauses in the client agreement for anything that lets the firm cancel profits. If a jurisdiction does not license forex at all, a registration there means nothing.
Scan history
How this broker’s safety assessment has changed across scans.
What changed since September 10, 2026
Since the last assessment the broker's registration and licensing position is unchanged: still Morfin FX LLC, still St. Vincent company number 1539LLC2021, still no financial licence from any regulator and no clone indicators. Two small input changes: a Threads profile has been added to the website footer alongside the existing Facebook, Instagram, LinkedIn, YouTube and X accounts, and a Trustpilot business profile for morfinfx.com was created in September 2026, which still carries no reviews.
- October 6, 2026CurrentLikely scam73% risk
- September 10, 2026Likely scam70% risk
Past scans are archived snapshots kept for transparency and are not indexed by search engines.
What we recommend
The practical takeaway from everything above.
Treat Morfin FX as an unlicensed, high-risk venue and do not place money you cannot afford to lose with it.
- Do not deposit on the strength of the regulatory wording in the client agreement. There is no financial licence and no compensation scheme, so there is no authority to complain to if funds are withheld.
- If you already hold a balance, request a withdrawal now rather than later, start with a sum you can afford to test with, and keep written records of every request, ticket and reply.
- Never pay a tax, fee, commission or insurance charge to release your own funds. No legitimate broker asks for that, and any such demand is the point at which losses usually multiply.
- Avoid the recovery services advertising around this brand's name on review pages. The upfront-fee recovery pitch is a second scam aimed at people already out of pocket.
- Read clause 33 before you trade. If you scalp, use an expert advisor, or close positions inside three minutes, the contract gives the company grounds to refuse your profit withdrawal.
- Report problems to the police or financial crime unit where you live, and to your bank or card issuer immediately if you paid by card or transfer.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed October 6, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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