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Midasfxtrades

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Operating status: SCAM

Website: https://www.midasfxtrades.com/

Broker violations and abnormal records
  • 2023-11-29 The UK FCA issued a Warning against Midasfxtrades

    On 27 November 2023, the United Kingdom Financial Conduct Authority (UK FCA) issued a warning that Midasfxtrades was providing financial services or products in the UK without authorisation. You may visit: https://www.fca.org.uk/news/warnings/midasfxtrades

    On 27 November 2023, the United Kingdom Financial Conduct Authority (UK FCA) issued a warning that Midasfxtrades was providing financial services or products in the UK without authorisation. You may visit: https://www.fca.org.uk/news/warnings/midasfxtrades
  • 2023-11-29 BrokersView has Reviewed that ​Midasfxtrades is an Unregulated Broker

    According to its website, it is located in the United States, however, upon investigation, no matching information was found in the National Futures Association (NFA).

    In addition, the United Kingdom Financial Conduct Authority (UK FCA) issued a warning that Midasfxtrades was providing financial services or products in the UK without authorisation.

    The truth is that Midasfxtrades is not regulated by any regulators. Letting it hold or control investors' money is unsafe and the money can not be protected by any laws.

    Therefore, Midasfxtrades is a scam.

    According to its website, it is located in the United States, however, upon investigation, no matching information was found in the National Futures Association (NFA).In addition, the United Kingdom Financial Conduct Authority (UK FCA) issued a warning that Midasfxtrades was providing financial services or products in the UK without authorisation.The truth is that Midasfxtrades is not regulated by any regulators. Letting it hold or control investors' money is unsafe and the money can not be protected by any laws.Therefore, Midasfxtrades is a scam.

Related Complaints

Q&A

I'm wondering whether Midasfxtrades is regulated or not?

Chara Rodriguez
Djibouti
2023-12-12
ANSWER Midasfxtrades is not regulated.Midasfxtrades presents itself as a trading platform with over nine years of experience. However, our investigation revealed otherwise: the domain name midasfxtrades.com was first registered in September 2023, merely three months ago. This inconsistency raises a red flag. According to US law, since Midasfxtrades claims to be located in this country, it must be registered as a member of the National Futures Association (NFA). However, Midasfxtrades has failed to do so and is not under the NFA's oversight. Furthermore, it has been targeting British investors illegally, which has resulted in a warning from the Financial Conduct Authority (FCA), the UK's financial watchdog. This further undermines its credibility and highlights the substantial risks it poses.Therefore, as an unregulated broker, Midasfxtrades exposes individuals trading on its platform to potential fraud and identity theft. To avoid falling victim to such a scam, we advise steering clear of Midasfxtrades and instead choosing fully regulated brokers with strong reputations.
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