Is MidasFX a scam?

• Brand: MidasFX
• Legal entity: Not disclosed on the site; the older version of the domain used the name 'Midasfx Financial Group Inc.'
• Registered: Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet, Saint Lucia (a company-formation address); working office at Office 26A, Zurab Gorgiladze str. 86A, Batumi, Georgia
• Website: midasfx.com (client portal at my.midasfx.com)
• Only licence: None. It holds no forex or CFD licence; the Saint Lucia registration is a company registration, not financial regulation.
• Offers: Forex, crypto, indices, metals and energies on MetaTrader 4 and 5; up to 1:1000 leverage; 10 USD minimum deposit; a 100 percent deposit bonus.
• Not accepted: No restricted-country list is published; the terms are governed by Saint Vincent and the Grenadines law.
• Age claim: No founding year is advertised. The domain was registered in 2011 but the current brokerage relaunched around late 2022.

We rate MidasFX high-risk and unverified because it takes client money while giving clients no regulatory protection at all, and because too little about the operating company can be confirmed.

• No regulation. The website names no regulator and publishes no licence number. It openly states it is 'not directed at any jurisdiction'. Its terms are governed by Saint Vincent and the Grenadines law, and that jurisdiction does not license forex brokers, so there is no supervisor standing behind client deposits.
• No named company. Neither the terms nor the footer disclose a legal entity or a registration number. The Saint Lucia address is a well-known company-formation building and the real staff appear to sit in Batumi, Georgia. A client cannot easily identify or sue the company that holds their funds.
• It is a genuine deposit-taking broker. There are live MetaTrader 4 and 5 servers ('MidasFX-Live'), a cashier, a 100 percent deposit bonus and 1:1000 leverage, so the unlicensed status is not excused by a prop-firm or education model.
• Mixed conduct signals. One recent review describes a cancelled profit and a deposit that was never returned, and another describes a small withdrawal that never arrived with no reply from support. Others report withdrawals that worked, and the company replies to reviews. This is a real fund-access concern but not a confirmed systematic denial pattern.
• Short real track record. The 2011 domain hosted a separate signals and copy-trading business until about 2019; the current brokerage only appeared around late 2022, so its operating history as a broker is roughly four years, not fifteen. The figure carries an upper-bound caveat because the operating company could not be dated on any registry.

Note on operating history: the 15.2-year track record rests on domain registration alone. No company incorporation date could be established, so this is an upper bound rather than a confirmed age.