My honest Morpher review: 6 months of active trading
Why did I choose Morpher?
As someone who has always been interested in financial markets and cryptocurrencies, I have tried out multiple trading platforms over the years. However, I think I had a similar pain point to most of us actively trading and investing. I've always been jumping from one platform to another for several reasons, such as missing features, low liquidity, high fees, or a lack of leverage options. It was especially challenging because I needed different platforms for trading different types of assets. A platform for Stocks, another for cryptocurrencies, and so on, you know this daunting pain.
However, around a year ago, I discovered a platform called Morpher that had just raised 6 million dollars while reading an article about promising tech startups. The platform caught my attention because of the backing of legendary investor Tim Draper. Thus, I decided to check it out and was pleasantly surprised by how user-friendly the platform was. Morpher had all the markets I wanted in one place and even more functionalities I did not know existed. In this article, I will talk about my experience actively trading on Morpher for the last six months and show you all the unique features that set this platform apart. At the end of the article, I will also provide you with a final verdict on whether I would recommend this platform.
About Morpher
Morpher is a unique trading platform that offers a wide range of assets to trade with, including stocks, forex, commodities, cryptocurrencies, and even blue-chip NFT collections and rare watches. You can trade these assets in any direction, long or short, with up to 10x leverage. What sets Morpher apart from other trading platforms is that it operates 24/7, even on weekends, and has zero fees, fractional trading, no slippage, no counterparties, and infinite liquidity.
This may sound too good to be true, but it's all thanks to the Morpher Protocol, built on the Ethereum blockchain. Even though the technology behind the scenes is complex and on the cutting edge of innovation, the platform's user interface is intuitive and easy to use. It is important to explain how the platform works without going into technical details.
The Morpher Protocol creates virtual copies of assets known as synthetic assets. These assets reflect the prices of real-world stocks, commodities, and nearly any other asset. Using synthetic assets eliminates the need for counterparties, as trades are executed through and against smart contracts. Also, the platform's own currency, MPH, is used to settle trades. If the value of the underlying market increases, the smart contract issues new MPH digital assets to the investor, while reducing value results in the destruction of MPH assets.
The good part is that the Morpher team has done an incredible job abstracting away the technical stuff while creating a very user-friendly platform, resulting in a much better trading experience than traditional platforms. So you can benefit from the technical innovation without understanding all the platform's technical underpinnings. Also, with investors like Tim Draper backing it with their own money, it speaks about the platform's potential and makes it a platform you can trust. If you want even more information, you can always check out Morpher's whitepaper.
I have been actively trading on Morpher for the last six months to test all the features. Let me tell you, it has delivered almost everything it promised. In the next parts, I will show what I liked and did not like, so stay tuned.
What I like about Morpher so far
- Morpher provides excellent customer support, with fast and effective responses to queries and issues. They were swiftly available to help with anything I needed whenever I asked them a question.
- The trading interface on Morpher is incredibly user-friendly and intuitive, with various indicators and trading views to suit different trading styles. I think that is also why the platform has received positive reviews on Trustpilot, with many users praising the simplicity and effectiveness of the interface.
- Trading execution on Morpher is fast and reliable, thanks to their innovative data oracle technology. This ensures that trades are executed quickly and accurately, allowing users to take advantage of real-time market opportunities.
- With 24/7 trading available on Morpher, I could take advantage of market-moving events and news, even on weekends when other trading platforms may be closed.
- Morpher allows for fractional trading, so I could invest in various assets, even with limited funds. This helped me minimize risk and maximize diversification, making building a well-rounded portfolio of stocks, commodities, and cryptocurrencies easier.
- By using smart contracts, Morpher eliminates the need for counterparties or middlemen, allowing for seamless trades at all times. This also ensures zero fees or charges associated with trading on the platform.
- Morpher offers unique markets, such as blue-chip NFT collections and rare watches, which cannot be found on other trading platforms.
Improvements I’ve seen in the last 6 months
As I was trading very actively in the last 6 months, the Morpher team has added new features to the platform. They've completely redesigned the platform and improved the trading view. At the same time, they've also released a mobile app into beta. The app is cool to use on the go, and it's great to trade from anywhere.
Morpher has also released many new coins and unique markets, like the NFT collections Cryptopunks, Azuki, Bored Apes, Doodles, and many more. Seeing that they are constantly improving and coming up with new and exciting things to trade on is great.
That's why I enjoy trading on Morpher – there are more possibilities than on traditional platforms. It's a great platform for anyone who wants to try out new and exciting things in trading. Please let me know if there is any other platform where you can diversify your portfolio across so many different assets or trade on the weekend with 10x leverage; I do not know any.
Finally, as all trades on Morpher are settled with the native token "MPH," you are also exposed to its price appreciation. If more people start trading on the platform, the token will also gain in value, and the earlier you join, the more you will be able to profit from the appreciation in the long term. It is their way of rewarding early supporters and building a loyal community of traders.
The few things I don’t like about Morpher
There are a few things about Morpher that I don't like. Even though the long-term MPH exposure is very promising, the MPH token's volatility can be a bit of a hassle in the short run. When withdrawing, the conversion rate between MPH and US Dollars can fluctuate, which can result in receiving less or more US Dollars than expected. So, remember to pick a convenient time to withdraw at a favorable exchange rate to get more US Dollars for your MPH.
Another thing to note is that if you deposit with PayPal, you can't withdraw that money for six months. Although you receive a 10% bonus, knowing this before depositing with PayPal is essential.
Finally, a minor thing I noticed is that sometimes spreads are flaky. Even though it has never affected my trades, I sometimes saw really high spreads in times of volatility that disappeared shortly after. To be frank, I did not see this anymore in the last months, so perhaps it was just a minor bug that has been taken care of.
Final verdict
From a personal perspective, I was initially skeptical about Morpher and all its features, but over time I became more than convinced. I now understand why Tim Draper backed the company. Morpher has become my "One-Stop Trading Platform" for everything trading-related over the last 6 months, and I'm not looking back. I can wholeheartedly recommend it to anyone looking for an easy-to-use trading platform with many features far superior to traditional trading platforms. Morpher offers more opportunities to diversify your portfolio and trade with leverage and zero fees while being innovative and regularly updating its platform with new features. Despite minor drawbacks, the pros outweigh the cons, making Morpher an excellent choice for beginners and professionals.