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.
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