Midasfxtrades A Scam?
Is Midasfxtrades a scam? In our ongoing commitment to scam prevention, Cybertrace has identified a new threat to the financial community: Midasfxtrades.com. Following a recent warning issued by the UK’s Financial Conduct Authority (FCA), we have conducted our own analysis to further inform and protect investors.
Other scam brands associated with Midasfxtraders are financialtraders, stfxpro, and optimumprofx, among others, and we strongly recommend that investors undertake their own due diligence on all sites associated with Midasfxtraders. Visit our scam website detector ScamID, and check a website for identified risks.
The FCA Warning
The FCA has flagged Midasfxtrades as an unauthorised financial services provider. According to the FCA, this firm has been offering or promoting financial services without proper authorisation, and hence, should be avoided to prevent potential scams.
Firm Details:
- Name: Midasfxtrades
- Address: 311 South Wacker Drive, Suite 2675, Chicago IL, United States, 60606
- Emails: [email protected], [email protected]
- Website: www.midasfxtrades.com
Cybertrace’s Investigation
Our forensic cyber investigators have scrutinised Midasfxtrades, confirming several red flags that align with typical scam operations. The website’s domain registration details are obscured, a common tactic to avoid traceability. Additionally, customer service contact points are not consistent, raising questions about their legitimacy.
From our review, our forensic investigators identified that despite the website’s claim below that they have been in business for 9 years, the website is only 3 months old which is a strong sign of fraudulent claims. Additionally, our ScamID’s fingerprinting algorithm identified that Midasfxtrades is linked to many other scam websites including financialtraders.live, stfxpro.com, optimumprofx.live, elitestraders.online, phantomtradefx.com, krypto-mkthandler.com, among others.
Implications For Investors:
Engaging with Midasfxtrades carries significant risk. Not being authorised by the FCA means that any transactions with Midasfxtrades are not covered by the Financial Ombudsman Service or the Financial Services Compensation Scheme (FSCS) in the UK. This leaves investors without high and dry if disputes arise, or if the firm collapses.
Cybertrace’s Advice
- Verify Before You Trust: Always check the authorisation status of financial services firms through official regulatory bodies.
- Be Skeptical Of Unsolicited Offers: If you’re approached with financial services or products you didn’t seek out, proceed with caution.
- Secure Your Investments: Only deal with reputable and authorised firms to ensure your investments are protected.
Reporting Suspicious Activity
If you’ve encountered Midasfxtrades or have been solicited by their offers, it is crucial to not only report this to regulatory authorities but also Cybertrace for a comprehensive investigation. Our specialised forensic approach goes beyond traditional analysis and the abilities of law enforcement; we excel in identifying the individuals behind these scams. With a unique combination of cyber expertise and investigative techniques, Cybertrace captures evidence left by scammers.
By reporting to us, you contribute information that assists in piecing together the operational patterns and identities behind these operations. Our track record speaks for itself, we don’t just identify the scams, we identify the offenders.
Cybertrace is committed to using our extensive network of resources and expertise to protect your interests and pursue justice. Your experiences are important for our fight against fraud and helping to prevent future losses and holding scammers accountable.
Conclusion
Cybertrace is committed to the highest standards of cyber investigative services. We remain vigilant in our efforts to expose fraudulent schemes and protect investors from scams.
Contact Cybertrace Now
For assistance and to report any suspicious activity related to Midasfxtrades or other investment scams, contact Cybertrace through our website.
