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Midasama
China|5-10 years| https://www.midasama.com
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No valid regulatory information, please be aware of the risk!
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Midasama
Midasama
China
Pyramid scheme complaint
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- This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
- The platform is a Ponzi Scheme, which refers to the use of "principle of value multiplication". In the form of rolling or static fund circulation, it uses the money of next member to pay to the present one, which is essentially a pyramid scheme with the distinction of hidden, deceptive and socially harmful. By calling common person's desire for money, fraudsters in the platform begin raising funds underground. Since this kind of platform mostly will abscond after 1 or 2 years, the fund-raising mode just can exist less than 3 years.
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
- The number of the complaints received by WikiFX have reached 8 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
WikiFX Verification
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Midasama · Company Summary
Is Midasama a Scam？
- Scam Brokers List
Midasama has been added to WikiFX's Scam Brokers list. The platform seems to be a Ponzi scheme. Please take note of its domain:
https://www.midasama.com
- Regulatory Concerns
According to WikiFX's investigation, there is no regulatory approval or oversight from any recognized financial regulatory organizations.
- Scam Exposure
As of now, there were 12 pieces of Midasama exposure in total. I will introduce 2 of them.
Exposure 1. Cannot withdraw
| Classification | Unable to Withdraw |
| Date | January 05, 2020 |
| Post Country | China Taiwan |
The user said that the contract has expired, and Midasama doesn't allow him to withdraw his deposit. You may visit: https://www.wikifx.com/en/comments/detail/202001052052883233.html
Exposure 2. Fraud broker
| Classification | Unable to Withdraw |
| Date | December 21, 2019 |
| Post Country | Malaysia |
The users said that he held large shares in Midasama but suffered forced liquidation of his accounts. You may visit:
https://www.wikifx.com/en/comments/detail/201912217502301664.html
Scam Disclosure
- 2020-01-09 WikiFX has discovered that Midasama falsely claimed its registration date.
While Midasama asserts that it began operations in 2012, research on its domain name by WikiFX reveals that it was actually registered in 2016 and updated in 2019.
- 2020-01-09 WikiFX has discovered that Midasama has made misleading claims of partnerships.
Midasama claims that it established a partnership with Dawada, a Cyprus-based Forex broker. However, according to CySEC records, Dawada's address is a Limassol apartment, raising the possibility of a shell corporation.
- 2020-03-24 WikiFX has flagged Midasama as suspicious pyramid scam
For its clients, Midasama created a lucrative Compensation Plan over trading. It offers 20% monthly returns but requires a $1,000 deposit. This plan clearly suggests a fraudulent scheme that exploits investors' money.
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