One of the most lucrative niches at the moment online is forex Trading in Multi-level marketing companies. With growing advanced software these platforms are using. Or are they just taking advantage of the usual Earn Money Online Get Rich Quick Schemes? Unfortunately, not a lot of these kinds of MLM’s are regulated. Let’s find out if Midasama is, in fact, a legit program or is it just another Forex Trading Scam and could it be a pyramid or Ponzi Scheme?
Midasama is a Forex trading (MLM) multi-level marketing company that is a trading platform. That supposedly helps you to get up to 20% ROI and more. The company was launched in 2016 and am update came about in May 2019. That was probably when they changed ownership Morgan Matthews is apparently credited as the business director there’s not much I can find about Morgan Matthews not very transparent from what I can find out 85% of the site comes from Malaysia and is been run from people in Malaysia
This platform Midasama seems to be unregulated because I can’t find any listings under trading platforms examples NFA, FCA, ASIC, etc
Midasama uses a feature called MIT mirror trading. This feature used is very common and legitimate platforms use it makes trading easily and it’s a how apparently uses the concept to copy a Traders successful trade so beginners can do trades like them. from what I can find out Midasama does not have a trading team so they really don’t have much to offer.
So let’s find more about the controversy surrounding this Forex MLM. Is it a stock trading multi-level marketing or could it actually be a pyramid scheme that has no product or service and out more about the controversy surrounding this MLM read on…
- Product name: Midasama
- Founder: Not known
- Product Type: Stock trading MLM
- Cost: $1,000 to $100,000 investments
- Best for: Nobody
- Recommended: No
Midasama’s Compensation plan.
This is a typical Multi-level Marketing (MLM) Compensation Plan… You are always recruiting and you are always going to have to keep three active in your down-line all the time if not your commissions will drop.. That’s if you get paid??
Here is a video to help you decipher what a Pyramid scheme and a Ponzi scheme really is.
Just a quick video to help you understand the basics there is no need to open YouTube. You can watch this video right here Just press play.
Back to the compensation plan.
Your recruitment bonuses other bonuses from promotions and your minimum investment to get started would be $1,000 and you can go as high as $100,000 that’s a lot of money who would spend $100,000 I suppose many people do.
Typical compensation plan
20% of your monthly returns from your Investments which comes in a point system
- Pt 1: $1,000
- Pt 2: $2,000
- Pt 3: $10,000
- Pt 4: 50000 up to Pt 5: $100,000
So basically paid out by an MLM compensation structure commonly used with MLM… So anyone new you recruit is placed under your first level and anyone they recruit is placed under them so is your second level so on and so forth.
You have the infinity bonus also not much written about that I am afraid. It seems the usual of any MLM you can get that by recruiting more people to MLM. It is generated based on the more people you get to spend money on the same software exactly what you will be doing looks like a Pyramid Scheme. As there really is no physical product to show. If you really want to get into forex trading there really are better companies out there but you need to be sure they are right for you.
Forex trading can be a legit company but I can’t find much about Midasama.
Midasama has a lack of transparency. I always think if a company is not transparent what is it hiding. Midasama is not accredited to the BBB
Truthfully $1000 dollars is super expensive enough to shell out. Let alone $100,000 is a lot of money to part with for a non-transparent company.
They have a ridiculous ROI 20% for a legit trading platform it’s not really achievable this is just to suck the really desperate people in who want a legit way to make some money. This is also for those who have money to burn all I can say is don’t burn all your bridges. This is my own personal view it really is up to you if you join Midasama. That is totally up to you. I just know the Red Flags to look for after been online for three years.
Unfortunately, Midasama again falls short on details. The only payment method revealed is by way of wire transfer. Some complaints as money are being held back too. Many are complaining and beginning to wonder if they hold money back because they are waiting for more recruited affiliates. That is not the way MLM works. Oh and beware as some recovery agents are out to scam you too. They will tell you they can get your money back charge you and you are then left with even less in your pocket.
Never give out your details Banking etc. They sell all this data on. The sad fact is once you have been scammed you are left wide open to more scams. Many people don’t even realize they are in a scam then they find out it is too late. Midasama is an unregulated broker and you should avoid at all cost, to be honest.
My Final thoughts.
Just use your due diligence and keep your hard-earned cash safe. Remember all these quick money scams. If it was that easy why aren’t we all rich not just a few of us? It really is common sense. I can’t find many people making money on Midasama, in fact, the only people that will earn from this are the owners. Imagine paying thousands of dollars out and then one day it is all shut down. You will never recoup your money.
I’m not a fan of multi-level marketing I spent too long wasting my time.. I have wasted my money on needless stuff I could ill afford let alone use. That was back in 2016 when I was just a super broke Mum looking to earn an extra income. Trying to find something that would allow me to that was near on impossible.
Not only that just been a product buyer and being held back from promoting never really getting the training really is detrimental to anybody especially those really on a tight budget. I was with both Lifeplus and Forever Living. Not Forex MLM but still MLM in the health Niche still the same concept. .
Here are some other scams you really should avoid.
How I make money online?
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