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Midasama (Midasama.com) is another cloned website claiming to offer a business school, Forex, indices, metals, and stocks. With a Chinese designed website, Midasama is another scam looking to target investors from Asia and Pacific region. What looks like a legit trading website is nothing short of a well-designed scam. With investors crying foul, we simply had to investigate this trader. Read this genuine and honest MIDASAMA Review for more details.
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Members of this ill-fated platform are disgusted by the manner in which transactions are carried out. Most members are angry with the fact that they cannot withdraw their funds from this website. What looked like an ideal place to start making money is turning out to be another online scam. Why do investors fall for such illicit platforms? The over the moon claims and promises of making quick profits is what entices them. Scam artists will do or say anything to make their platforms appear legit.
Professionals scam artists know for a fact that we all want to make an extra buck. They take advantage of this and profess to have the full answers. All investors have to do is to sign up; deposit and the platform will do the rest. With claims of making over 98% guaranteed profits, unsuspecting investors get drawn in. Thanks to our years of trading experience, we know how to spot a scam from a mile away. Continue reading this honest and detailed review to find out the tricks used by these scam artists.
Not much information is given on the website regarding the platform. Disclaimer at the footer of the homepage does not give any information regarding the company behind this platform. All we see is a Chinese designed website with no contact information. And this is where we start seeing red flags with this platform. Any anonymous online trading investment platform should be treated with care. These are most likely offshore brokers who are trying to score with your funds.
Anonymity is a huge challenge as we don’t know who the actual owners are. We could not find any information regarding the actual founding members of this platform. From what we can gather, the platform is from the Asia-Pacific region. Note that scam artists will design websites to suit their target audience. Although this seems like a Chinese designed website, the idea behind it is from offshore brokers.
The website does not have any information regarding any form of licensing or regulation. We did a thorough research using various regulatory bodies’ websites to try and confirm their status. Some of the regulatory institutions we used include ASIC, CONSOB, CySEC, FCA, NFA, and SEC. None of these official sites has any platform licensed with this name. What this means is we are dealing with an unregulated platform. Funds are never safe when it comes to an unlicensed trading website.
With a legit platform, you would see some license number posted on the website with matching documents. Legit platforms will post copies of their license certificates for all to see. With this platform, none can be seen which makes the platform totally illicit. For all we know, this could be a money laundering website. Make sure to stay away from this platform and never associate with their brokers.
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We could not find any advantage of dealing with this illicit platform. Complaints are rampant that the platform is also selling personal information to third parties. Make sure to stay away from this platform as the web is full of negative reviews. Midasama is an anonymous website with no clear goal or mission in line with trading.
Did you notice that the platform lacks a working live chat support team? With today’s technology, you would expect the platform to have live chat support. Live chat support is essential in today’s trading world as it helps investors solve problems fast. The problem with this platform is using emails as their only source of communication.
Midasama is not furnishing users with any demo account. What this means is that users are signing up blindly not knowing what to expect. With such a platform, you will never be able to know what to expect. A demo account plays a vital role in establishing how fast trades are executed. Without a demo account, users are signing up with no experience of how the platform’s tools work.
Another shocking issue we noticed with this platform is lack of proper details regarding deposit and withdrawal. You would expect a platform to offer users information regarding how to deposit and withdraw funds. With Midasama, users don’t know how long it takes for withdrawals to be processed. And this is a huge challenge as it shows how bane the platform is. Without proper deposit and withdrawal information, users are at risk of losing their funds upon depositing.
The platform claims to use MT4 as their preferred tool of trading. What seems to be a huge problem with this platform is having no installed security features. Without DDoS and SSL encryption, the platform is unstable which makes it an easy target for hackers. Hackers will easily take over the website and steal personal data from investors. Ensure you always test the stability of a platform prior to signing up.
How can funds be safe with a platform which is not complaint and has no security features? With so many complaints floating around the web, funds are never secure with this website. Another problem pertains to segregation of accounts. The platform fails to reveal any account type which leaves us guessing on how the platform fully works. It is possible users are depositing funds straight to owner’s personal bank account. Stay away from anonymous and unlicensed online trading platforms.
From what we can gather, Midasama is a scam which must be exposed to protect investors. Make sure to mark all their emails as spam and never click on any links sent by their marketing team. Warn your family and friends from associating with this platform. You will never be able to trade safely with a platform which has a horrible online reputation. Ignore all their pleas to sign up.
We will be adding Midasama to our scam blacklist and ensure our readers know about this scam.
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Wishing all investors a happy and prosperous trading period
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