Midas Investment is a cryptocurrency investment platform that claims to offer high-yield returns. However, there are a number of red flags that suggest that Midas Investment may be a scam.
Company Overview
Midas Investment was founded in 2020 and is headquartered in the Seychelles. The company’s website claims that it is regulated by the Financial Services Authority (FSA) of Seychelles, but this is not the case. The FSA does not regulate cryptocurrency exchanges or investment platforms.
The company’s website also does not provide any information about its team of executives or its investment strategies. This lack of transparency is another red flag.
Services or Products
Midas Investment offers a variety of investment products, including staking, DeFi yield farming, and algorithmic trading. The company claims that these products offer high-yield returns, but there is no evidence to support these claims.
License and Regulations
As mentioned earlier, Midas Investment is not regulated by any financial regulator. This means that there is no government agency to oversee the company’s activities or protect investors from fraud.
Why Dealing With An Unlicensed Broker Is Risky?
There are a number of reasons why it is risky to deal with an unlicensed broker. First, unlicensed brokers are not subject to the same financial regulations as regulated brokers. This means that they are more likely to engage in fraudulent activities, such as misappropriating client funds or running a Ponzi scheme.
Second, unlicensed brokers are not required to disclose their trading practices or fees. This makes it difficult for investors to assess the risks involved in investing with them.
Third, unlicensed brokers are not subject to the same customer protection measures as regulated brokers. This means that investors may have difficulty recovering their funds if they lose money to an unlicensed broker.
Legal Warning Against Midas Investment
The Financial Conduct Authority (FCA) of the United Kingdom has issued a warning against Midas Investment, stating that the company is not authorized to provide financial services in the UK. The FCA has also warned that Midas Investment may be a scam.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Client Feedback
There are a number of negative reviews of Midas Investment online. Some investors have complained that they have been unable to withdraw their funds from the platform. Others have said that they have lost money due to the company’s high fees and risky trading practices.
Feedback About Their Trading
Some investors who have used Midas Investment’s trading services have complained that the platform is difficult to use and that the trading fees are high. Others have said that they have lost money due to the company’s risky trading strategies.
Feedback About Their Customer Service
Midas Investment’s customer service has also been criticized by some investors. Some investors have said that they have had difficulty getting in touch with customer support and that the company has been slow to respond to their queries.
How Can “Reviews Advice” Help You If You Get Scammed?
If you have been scammed by Midas Investment or any other investment platform, there are a number of things you can do. First, you should report the scam to the relevant authorities, such as the FCA in the UK or the SEC in the US. You can also file a complaint with the Better Business Bureau.
Second, you should try to recover your losses. This may involve contacting the company directly or hiring a lawyer to file a lawsuit.
If you want a quick solution or guidance then you can contact us. We will evaluate your case and will provide a free consultation call. We then provide you with some recovery service recommendations to help you.Â
Final Thought
Our final piece of advice is to avoid this broker at any cost. They don’t have any specific information about their company. They are hiding their identity and they are not regulated. Don’t trust this broker for any reason.
