Thinking of getting into business with MidasMarket? Here is what you must know about this broker. Carefully read this review to find out if midas-market.com is the trading platform you will want to trade with.

About MidasMarket 

MidasMarket is an offshore brokerage company with a lot of promises for traders. The broker presents us with two different addresses USA and Jakarta. There is a claim of regulation from  Financial Services Commission (FSC) of Mauritius as well as with a global license.

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Address
Address

Added, it trades on the following instruments like forex, stocks, energy, commodities, metals, crypto and indices.

To clarify, regardless of the trading instruments MidasMarket claims to offer, traders must know they are dealing with an unknown broker which does not have a regulation over its head.

midas-market.com: Reasons to Avoid This Broker

Firstly, midas-market.com is a platform with no financial authority overseeing its financial services. MidasMarket is not worth your money as we have dug into the datebase of Financial Services Commission (FSC) Mauritius, but nothing is found. To be more certain about the broker’s claims, we have also looked into US financial regulators — Commodity Futures Trading Commission (CFTC) and National Futures Association (NFA) for license approval, unfortunately result not found.

Secondly, we noticed midas-market.com has no demo account for traders. Since traders can’t test the broker on a free account, we can’t know its viability in the forex market.

More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.

These are cons for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.

Withdrawal and Deposit

Withdrawal process

MidasMarket leaves us with no specific information on processing days nor withdrawal fees. Truly, this broker is a scam and its fraudulent schemes are clear.

Minimum Deposit

MidasMarket minimum deposit is not available.

As for the payment methods, there is nothing to discuss. Truly, you should not consider making any payment with this broker because it is a risk. So beware!

MidasMarket Platform

MidasMarket offers web based trading platform and not MT4 or MT5 (Industry standard trading platforms) which gives us more reason not to take this broker serious.

As for the leverage, the broker provides us with no info. Truly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.

MidasMarket Licensing and Regulation

It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.

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Licensed in Australia(ASIC) and Cyprus(Cysec)

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Conclusion: Is midas-market.com a Reliable Broker?

No, midas-market.com does not seem like a reliable broker for traders even though it promises offers that look good to be true.

Most importantly, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.

We owe our readers the duty to fish out scam forex brokers as well as share reasons to avoid fraudulent schemes. Meanwhile, we will not recommend this broker for trading.

Kindly share your comment about this broker in the comment section.

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By Dan

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