Is Midasama A Scam?(A Forex Trading Pyramid Scheme?)(REVIEW)

It’s likely that you have come across Midasama through an email list, on social media or got it recommended by a friend or family member.

Is Midasama a scam? The reasons why you’re here is because you have want answers right so, that’s what I’m going to provide for you within this Midasama review.

First and foremost I must commend you for actually doing a bit of extra research before committing to joining Midasama. For all you could have known, the product could be a major scam so the fact you’re here right now, researching whether or not that’s the case is a pretty smart move on your part.

To be fully transparent with you, I am personally not a member of Midasama so I can assure you that I will not attempt to sell you it unless of course it’s worth investing in.

What I will aim to do is provide you with an unbiased 3rd party look at Midasama that will hopefully help you to make the best decision you can in the end.


PRODUCT NAME: Midasama

OWNER/S: Morgan Matthews

TYPE OF PRODUCT: forex trading MLM

PRICE: $1k minimum

SUMMARY: There is a good chance that Midasama can is both a pyramid scheme and a scam as it does show a few pretty major red flags from what I could find.

These red flags include the heavy reliance on recruitment considering there aren’t any retail products available, the expensive joining costs coupled with the ridiculous claim of a 20% ROI per month, the shady individual behind the company and of course the really low success rate within the MLM scene as a whole is somewhat of a red flag too.

That’s why I personally would not recommend joining Midasama if you really want to learn how to make money via forex trading as it’s unlikely to be all that great in showing you how to effectively do so.

FINAL RATING: 1/5

RECOMMENDED: No


WHAT IS MIDASAMA?

Midasama logo

Midasama is a forex trading based MLM company which was launched in 2016 but was updated to where it currently stands in 2019.

As for who the owners of the company are, there are a couple names associated with but currently it’s a guy named Morgan Matthews who’s both regarded as an associate partner and business director of the company.

Before Morgan there was another guy named Edward Fox who coincidentally just like Morgan was a white individual heading a primarily Chinese business (considering the website seems to be written in Chinese mostly).

Edward was the trading director of Midasama in the past although right now there isn’t very much information on the guy. Likewise, other than learning about Morgan being an associate partner and business director there isn’t any info on who he is, his experiences within the MLM business or even his experience with forex trading.

From what I could find of the guy, he just seems to be the “face” of the company and nothing more.

It appears that over the last few years Morgan has attended events for a couple different shell companies such as Daweda and Star Wealth both of which look like they’re failing at this point according to Alexa at least that shows both companies have no traffic coming to them.

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MIDASAMA PRODUCTS

The only thing Midasama offer to customers is the option to buy into their mirror trading software among a few other elements to look into when it comes to forex trading and nothing else.

Mirror trading is quite a common feature even among the more established trading platforms as it allows beginners to basically copy the trades another individual is making.

This may be alright in the beginning but, over time if the training isn’t great within Midasama, it may be detrimental to your success as you don’t really learn too much only through mirroring a more experienced forex trader.

Besides this Midasama offers nothing that’s retailable so, do be cautious of this fact as service based systems are much easier ponzi schemes to make.


HOW DO YOU MAKE MONEY WITH MIDASAMA?

As is the case with pretty much all MLM businesses there are 2 ways to make money with them, Midasama being no exception.

1. The first method is by directly selling the product to other individuals and in return make a commission for the sales

2. You make money through your recruits and downline, by getting residual income by following and meeting certain criteria as well as make money through bonuses and incentives due to meeting company set goals.


HOW TO GET STARTED

In order to join Midasama you will need to invest a minimum of $1000 and can even go as high as $100k+ however, most wouldn’t really be willing to do that, especially with a company like Midasama that doesn’t appear to be all that trustworthy.

There are 5 different packages an individual can come in at which includes the following levels :

  • $1000
  • $5000
  • $10,000
  • $50,000
  • $100,000

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COMPENSATION STRUCTURE

Midasama claim you can earn a return of roughly 20% on a monthly basis, which to me seems way to much from a volatile market like forex trading. There of course are a couple other ways to make money with the company which I’ll go over below.

But first, I’ll list down all the ranks an affiliate can achieve and the criteria required for each rank.

  • Manager – sign up and invest $1000
  • Senior Manager – invest $5000 or recruit three Managers
  • Director – invest $10,000 or recruit three Senior Managers
  • Diamond – recruit three Director ranked affiliates and generate $300,000 in total downline investment (max $100,000 from any one unilevel leg)
  • Gold Diamond – recruit three Diamond ranked affiliates and generate $1,500,000 in total downline investment (max $500,000 from any one unilevel leg)
  • Black Diamond – recruit three Gold Diamonds and generate $6,000,000 in total downline investment (max $2,000,000 from any one unilevel leg)

Clearly the highest rank that’s achievable does seem to be a somewhat impossible feat to accomplish but, in general the number of ranks available are far from the most I’ve seen any single MLM offer.

Residual Commissions

The residual commissions are paid out via a unilevel structure, which in simple terms means an affiliate will be able to earn infinitely from their recruits horizontally but vertically the earning potential will be capped. In this case being capped on level 9.

These commissions are paid out as a percentage of returns paid to affiliates as follows :

  • Managers earn 30% on level 1 (personally recruited affiliates), 15% on level 2 and 10% on level 3
  • Senior Managers earn 30% on level 1, 15% on level 2, 10% on levels 3 and 4 and 3% on levels 5 and 6
  • Directors and higher earn 30% on level 1, 15% on level 2, 10% on levels 3 and 4, 3% on levels 5 to 7 and 2.5% on levels 8 and 9

Infinity Bonus

This bonus is hard to completely understand but from what the compensation plan states its something that starts at the diamond rank and appears to follow a generation based structure :

  • Diamonds earn 3% on up to three generations
  • Gold Diamonds earn 3% and 2% on up to six generations
  • Black Diamonds earn 3% and 2% on up to nine generations


THE NOT SO GOOD THINGS

Recruitment Is Essential For Success

More or less all MLM’s require individuals to recruit and Midasama is no exception to this rule therefore, if you’re no good at it you probably won’t be all that successful as an affiliate.

Midasama also seems to be heavily reliant on recruitment as the 20% monthly profit is ridiculous and is almost guaranteed not to happen whilst an affiliate only being able offer customers the membership is another red flag.

That’s why even if you were great at recruiting Midasama doesn’t come across as an all that legit entity to do business with anyways, in my opinion at least.

The Company Doesn’t Seem Very Trustworthy

Morgan seems to come across as just a front for Midasama just like the previous white guy fronting as this Hong Kong based firm spokesperson.

From what I’ve found Morgan has attended a few events held by a couple of shell companies therefore, it’s quite hard to trust in Morgan’s and Midasama’s agenda as a whole as they don’t seem to be working with very many legit corporations.

A Ridiculous ROI Claim

The claim of being able to help you earn returns of 20% on your investment, on a monthly basis at that, is quite frankly an absolutely ludicrous claim to make given the market you’ll be trading in and how shady the company comes across as, as a whole.

Most People Will Fail

I’ve found that for the most part generally around 5% of members seem to make a decent income of around $1k/month within most MLM’s (at least from what I’ve found within income disclosure statements) and an even smaller 1% of all members tend to generate income in the full time range of around $2k+/month.

Now I’m not saying that these numbers are what you’ll see as a Midasama affiliate but, I doubt that I’m too far off.


THE GOOD THINGS

There’s literally nothing good about Midasama in my opinion so, I would personally just skip especially it if you’re after a legitimate forex trading platform with trustworthy individuals behind it.

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IS MIDASMA A PYRAMID SCHEME/SCAM?

There is a good chance that Midasama can is both a pyramid scheme and a scam as it does show a few pretty major red flags from what I could find.

These red flags include the heavy reliance on recruitment considering there aren’t any retail products available, the expensive joining costs coupled with the ridiculous claim of a 20% ROI per month, the shady individual behind the company and of course the really low success rate within the MLM scene as a whole is somewhat of a red flag too.

That’s why I personally would not recommend joining Midasama if you really want to learn how to make money via forex trading as it’s unlikely to be all that great in showing you how to effectively do so.


MY PERSONAL RECOMMENDATION

I personally will always recommend against using a MLM business model to make money, not because you can’t make money through it (you totally can) but, the system has always seemed shady to myself and is kinda synonymous with the likes of a pyramid scheme or scams (MOBE and Digital altitude).

Instead I prefer working with something created through ones own means and is ultimately dependent on yourself and your work ethic alone.

This method I’m talking about is affiliate marketing. 

The reasons as to why I recommend it over MLM based structures are because

– there is no need to recruit constantly

– it is a legitimate method that has been working consistently and continues to grow as more businesses want individuals to promote products

– and because it is free to start up, no unnecessarily large start up funds needed.

The service I recommend is Wealthy Affiliate. It’s free to sign up to and will get you set up and ready to start your affiliate marketing journey within minutes, as it did for me when I begun my journey.

If you have any questions that you would like to ask me regarding Midasama, feel free to do so in the comments section below and I will get back to you as soon as I can. If you have your own thoughts about Midasama and would like to talk about it, again feel free to do so in the comments below!

Thanks

Amhil

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