Morgan Capital Online Trading Platform Down

By Dipo Olowookere

The online trading platform of a popular stockbroking company in Nigeria, Morgan Capital Securities Limited, is down.

The platform, fondly called itrade, has not been accessible to investors since Wednesday morning.

As at the time of filing this report shortly before noon, it was still down but Business Post gathered that the management was working to get the trading system back online.

This was confirmed in a message the company sent to its clients.

“We are currently having temporary downtime on our itrade platform and our technical team is currently working on resolving it,” the notice seen by Business Post disclosed.

Meanwhile, Morgan Capital has urged its customers to forward their trading requests, including the sell and buy orders through an email address provided.

“While we are making all efforts to resolve this issue, kindly send all your trading requests to [email protected],” the statement said and thanked its customers for “choosing Morgan Capital Securities Ltd.”

As at the time Business Post checked the itrade platform, it was not working because of security issues. The platform was not properly secured with an https and was flagged by the Google Chrome browser.

“Your connection is not private. Attackers might be trying to steal your information from itrade.morgancapitalgroup.com (for example, passwords, messages, or credit cards),” the message on the browser read.

On the Mozilla browser, the message was similar.

“Warning: Potential Security Risk Ahead

“Firefox detected an issue and did not continue to itrade.morgancapitalgroup.com. The website is either misconfigured or your computer clock is set to the wrong time.

It’s likely the website’s certificate is expired, which prevents Firefox from connecting securely. If you visit this site, attackers could try to steal information like your passwords, emails, or credit card details.”

Many investors open stockbroking accounts with Morgan Capital because of its relatively cheap commission fee, which is about 0.50 per cent, unlike others which charge the maximum brokerage fee of 1.35 per cent.