Is Midas Globe a scam broker?
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Midas Globe is owned by Valley Marketing Ltd., located in Bulgaria. It was founded in 2016. Some sources claim it is owned by Get Marketing Ltd., which is located in Marshall Island.
As the site claims the company is founded by an experienced team of online financial specialists who are committed to making available income opportunities to everyone which is offered by global financial and forex markets.
The trading platform is MetaTrader4 which is one of the most popular trading platforms for forex and CFD’s. MetaTrader4 has charting tools and indicators. It is easy to use and fast in trade execution. The platform has desktop and mobile version. It is powerful, reliable and secure platform and holds the title of the most popular forex trading platform. It has an easy to use navigation interface which offers numerous technical analysis indicators, signals, advanced charting tools and risk management features. Supports multiple orders and one can automate his trades if one wants.
Payment methods available are credit/debit cards (Visa, Mastercard and Diners Club), bank wire transfer, fast bank transfer and WebMoney.
Assets offered for trading are commodities, currencies, stocks, and indices.
Educational material and tools include in-depth market analysis, breaking financial news, video tutorials, and e-books. All this is designed to boost trader’s skill and increase profit potential. There is an economic calendar which lists all the major market events and happenings.
One can diversify their investments to reduce risk. Assets on offer are 75 forex assets, 126 energy, 35 metals and 278 currencies futures.
Account types available are Starter (minimum balance $ 500), Premium ($ 5,000) and VIP ($20,000). There is a welcome bonus 50%, 75% and 100% respectively.
The website is available in English, Italian and Russian and support is available 24 hours from experts.
Midas Globe is a scam broker as its information about its headquarters and owners is shoddy. It is not regulated. Business with an unregulated and off-shore broker is extremely risky and there is no compensation for your money in case the company vanishes in thin air.
On its website, the company informs that it is registered at British Virgin Island and operated by Valley Marketing Ltd., but when downloading MT4 platform it shows Beta Management Holding Services Ltd. This creates suspicion in mind of traders.
One of the authors on .forexbrokerz.com narrates his story how he was scammed by Midas Globe. He was contacted by Ms. K who claimed to be an experienced agent and opened author’s account with $ 1850. Few losing trades were made by Ms. K and the author told her to stop trading on his account. When author traded himself the account grew to $ 11,700. Later on, for the safety of his investment, he requested partial withdrawal of $ 5000. He received no response even after sending several e-mails and even chatted few times. As the author was not getting any response he finally he decided to close the account. There was $11,700 balance in his account but even after many correspondences, there is no response till date. One day Ms. K called up and said if the author transfers 17 % to her account the balance pending amount will be transferred. The author reported this incident to UK Action Fraud Police.
Midas Globe is a scam broker and if you or any of your friends had been a victim of online fraud you can take help of MyChargeBack to retrieve your money that has been scammed. You should use your rights and do not let online scammers get away.