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Midas -

Score

1.58 /10
Danger

Midas

Vanuatu

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

Vanuatu Retail Forex License Revoked

High potential risk

http://www.mdsforex.com

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Comparison

Quantity 4

Exposure

Open Account
Website

Score

Regulatory Index0.00

Business Index7.53

Risk Management Index0.00

Software Index4.00

License Index0.00

Open Account
Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

Midas Financial Management Holding Limited

Company Abbreviation

Midas

Platform registered country and region

Vanuatu

Company website

Company summary

Pyramid scheme complaint

Expose

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Warning: Low score, please stay away! 3
Previous Detection : 2024-11-19
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • VanuatuVFSC (license number: Unreleased) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!

WikiFX Verification

Exposure

4 pieces of exposure in total
Pyramid scheme complaint
Expose
Scam

Scam platform! Hundreds of my clients lost money on July 26th.

I asked them why, but they said we are not clients of their platform anymore. My clients lost altogether over $310000.

FX4539407554
2018-08-20 05:40
Unable to Withdraw

Unable to withdraw in Midas

My fund would be on due on March 7th, while which was unavailable. The platform claimed to refund within 16 terms, which has no difference to absconding.

GUOBAOTEGONG
2020-05-12 22:30
Scam

Expose the scam of Midas’s Zhu Yiming

On November 24, 2018, Zhu Yiming, the account manager of Midas, called me and said that the company's financial situation was in a state, which made it difficult to withdraw money. Therefore, he used the reason for helping with the withdrawal (after verification by multiple parties and verification by myself, what he said was purely a lie), from November 25 to December 28, 2018, he defrauded RMB 41000 in the name of the platform. I called the company many times, but their customer service shirked responsibility. Later, I sent an email complaint to the platform. The platform said that Zhu Yiming had been dismissed for violating the company's regulations. So it was not related to the company. They said it was a personal act and did not solve my problem. But in fact, so far, Yi Yiming is still managing my account, which is inconsistent with the fact of leaving. And during the fraudulent period, he was in a working state. Now I am complaining and exposing the fraud of Zhu Yiming, the account manager of Midas Forex Trading Platform. Please stay away from this blackhearted customer service. (Zhu Yiming, bank card number: 4367 4212 1456 4459 078,). If they can't solve it, I will take legal measures in the next step. Midas website: http://www.mdsforex.com/ Address: Office Address: Room 326, 2nd Floor, Building 3, No. 135, Guowei Road, Yangpu District, Shanghai. Tel:

KUGUA
2019-01-30 17:54
Resolved

Expose the scam of Midas’s Zhu Yiming

On November 24, 2018, Zhu Yiming, the account manager of Midas, called me and said that the company's financial situation was in a state, which made it difficult to withdraw money. Therefore, he used the reason for helping with the withdrawal (after verification by multiple parties and verification by myself, what he said was purely a lie), from November 25 to December 28, 2018, he defrauded RMB 41000 in the name of the platform. I called the company many times, but their customer service shirked responsibility. Later, I sent an email complaint to the platform. The platform said that Zhu Yiming had been dismissed for violating the company's regulations. So it was not related to the company. They said it was a personal act and did not solve my problem. But in fact, so far, Yi Yiming is still managing my account, which is inconsistent with the fact of leaving. And during the fraudulent period, he was in a working state. Now I am complaining and exposing the fraud of Zhu Yiming, the account manager of Midas Forex Trading Platform. Please stay away from this blackhearted customer service. (Zhu Yiming, bank card number: 4367 4212 1456 4459 078,). If they can't solve it, I will take legal measures in the next step. Midas website: http://www.mdsforex.com/ Address: Office Address: Room 326, 2nd Floor, Building 3, No. 135, Guowei Road, Yangpu District, Shanghai. Tel:

ZIDE
2019-01-29 19:05
Midas · Company summary

Note: For some unknown reason, we cannot open Midas official site (http://www.mdsforex.com/) while writing this introduction, therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. Traders should be careful about this issue.

General Information & Regulation

Midas, a trading name of Midas Financial Management Holding Limited, is allegedly a forex broker registered in Vanuatu that claims to provide its clients with the state-of-the-art MetaTrader4 trading platform.

As this brokerage's website cannot be accessed, we were unable to obtain further details about its trading assets, leverage, spreads, minimum deposit, etc.

As for regulation, it has been verified that Midas official regulatory status is Revoked. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.51/10. Please be aware of the risk.

General Information & Regulation
General Information & Regulation

Market Instruments

Midas advertises that it is a forex broker that mainly offers forex trading. However, more specific information about tradable assets cannot be found on the Internet.

Trading Platform Available

The platform available for trading at Midas is the industry-standard MetaTrader4. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.

Customer Support

Midas‘ customer support can be reached by email: backoffice@mdsforex.com. You can also follow this broker on social networks such as QQ: 800822700. However, this broker doesn’t disclose other more direct contact information like telephone numbers or the company address that most brokers offer.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

User Reviews

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习惯就成自然
more than one year
If I could give less then a star I would. Scam scam scam scam!!!! Don’t give any money don’t allow even conversation with this fake company be careful and don’t make the same mistake as I done. Too many innocent people have been scammed by this broker, and we all haven’t get any money back! All are a mess!
If I could give less then a star I would. Scam scam scam scam!!!! Don’t give any money don’t allow even conversation with this fake company be careful and don’t make the same mistake as I done. Too many innocent people have been scammed by this broker, and we all haven’t get any money back! All are a mess!
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2023-03-15 14:10
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FX1189735978
more than one year
In the second place, in spite of all the burdens here, various extracurricular activities such sports meets, speech contests and social gatherings will still provide you with ample opportunities to make friends. So, enjoy your life in this esteemed institute!
In the second place, in spite of all the burdens here, various extracurricular activities such sports meets, speech contests and social gatherings will still provide you with ample opportunities to make friends. So, enjoy your life in this esteemed institute!
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2022-12-20 11:07
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