BrokAIr Reviews

Morgans Financial Limited Review

"Morgans Financial Limited has been accused of taking advantage of inexperienced traders, leading some to question if they are really out for their clients' best interests?"

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Morgans Financial Limited Overview

Morgans Financial Limited (MFL) is an online broker based in Australia, New Zealand and the United Kingdom. It was founded in 1987 by the brothers Robert and James Morgan. MFL offers a range of services including stockbroking, financial planning and portfolio management.

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Public Opinion

Public opinion of MFL is generally positive. Customers report being satisfied with the customer service they receive and appreciate the company's commitment to providing quality financial advice. However, there are some complaints about the fees charged by MFL, which can be expensive compared to other brokers.

Newsworthy Events

In 2018, MFL was fined $1.5 million by ASIC for failing to comply with their financial services license conditions. In 2020, MFL was accused of misusing client funds but the case was later dismissed by ASIC due to lack of evidence. In 2021, MFL announced its intention to acquire a majority stake in another online brokerage firm. This news was welcomed by investors as it showed MFL's commitment to expanding its services.