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midasfx

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ANSWER Dear Investor, We do not recommend using the MidasFX platform, as it lacks basic proof of regulation and poses an extremely high risk. MidasFX claims to have registered companies in Saint Lucia and Georgia. However, regarding its registration in Saint Lucia, while it appears in the registry of International Financial Centre(IFC), this registration merely grants it International Business Company (IBC) status, which does not constitute a valid financial license. The IFC neither regulates nor licenses forex trading activities. Secondly, the National Bank of Georgia (NBG) has no record of any entity associated with MidasFX. In reality, MidasFX operates without oversight from any regulatory authority. As a brokerage intermediary, this lack of regulation exposes investors to severe trading risks. We strongly advise you to avoid such brokers and instead choose platforms that are subject to multiple, strict regulatory standards to ensure the safety of your funds.

Do you think MIDASFX is a reliable broker?

Aristos chen

Guernsey

Dec 20, 2023

ANSWER No, MIDASFX is not reliable.While it claims to have registration with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA), it is crucial to note that the SVG FSA has announced that forex trading brokerage activities are not licensed in this jurisdiction. This disclaimer renders MIDASFX's offerings unlicensed.Therefore, MIDASFX operates as an unlicensed forex broker, leaving its clients unprotected by rules and law. To avoid falling victim to fraud and identity theft, investors are advised against engaging with MIDASFX. It is recommended to choose fully regulated brokers that have solid reputations.

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Risk Warning

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

Disclaimer

The data contained in this website may not be real-time and accurate. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website.