Is Midasama A Scam? *DON’T JOIN UNTIL READING THIS*
If you've been approached to join Midasama and are wondering if it's a scam, this post is just for you.
There's a lot to know about this company and it's important that you read this entire post or you could lose some money.
By the time you're done reading you'll know if Midasama is a good opportuntiy or not.
Let's get into!
Price to join: $1000 initial investment
Do I recommend? Absolutely not!
Summary: Midasama is a forex ponzi/pyramid scheme and you should AVOID this company at all costs.
Nothing about this company is real and there are no real products/profits. Money is just taken from new affiliates and given out to older ones. Eventually, when new affiliates stop joining, the scheme will collapse and most people lose money.
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What is Midasama?
Midasama is a MLM forex trading scheme that operates out of Malaysia. This company has no information on who runs the company which is a MAJOR red flag.
In my experience when a MLM isn't upfront with who runs and owns the company, it's a scam.
It's very common for Asian forex and MLM scams to have a puppet white guy to be the spokesperson of the company - this is what happens with Midasama.
The guy on the right in the picture below is Morgan Mathew and is the "business director" of this company:
Apparently having a white guy front these type of companies gives them more credibility. You can't find any real information on Mathews and it seems he's just trotted out when needed.
Is Midasama A Pyramid Scheme?
In fact, Midasama is both a pyramid scheme and ponzi scheme.
To understand what I mean, look at the picture below:
This is exactly how the commission scheme works on Midasama and is why this company is a pyramid scheme.
You see the only way to make money with this company is through recruitment - there's no product to offer. This is the textbook definition of a pyramid scheme.
Only the people at the top will make money while the people at the bottom will lose money because the scheme will collapse before they can get a return on their investment.
Now, Midasama is a ponzi scheme as well because they're misleading their customers on where the revenue is coming from.
Midasama is telling their customers the revenue is coming from their trading abilities and not from new affiliates joining.
The truth is 100% of revenue comes from new affiliates and that money is used to pay the affiliates that have been there for longer.
Eventually the pool of recruits dry up, the system collapses and everyone who believed revenue was coming from trading is left confused.
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Price To Join Midasama
In order to be an affiliate for Midasama you must have a minimum $1000 investment.
Midasama Compensation Plan
Midasama promises up to 20% monthly returns and they offer five package price points:
Midasama Affiliate Ranks
There's various ranks you can achieve at Midasama and the further you advance in the system the more you can make.
Here's the ranks and what you need to do to get to each rank:
- Manager: Sign up and invest $1000 minimum
- Senior Manager: Invest $5000 or recruit 3 Managers into the system.
- Director: Invest $10,000 or recruit 3 Senior Managers
- Diamond: Recruit 3 Directors and generate $300,000 in total downline investment.
- Gold Diamond: Recruit 3 Diamond Ranked affiliates and generate $1,500,000 in total downline investment,
- Black Diamond: Recruit 3 Gold Diamonds and generate $6,000,000 in total downline investment.
It'll be basically impossible to get past the first 2 ranks. Plus, would you really feel good about yourself for recruiting people into a scam?
Residual commissions is where you'll make the majority of your money and the compensation structure is unilevel. It looks like the following:
How much you make depends on your rank and how much in revenue your downline and you generate.
Here's what you can earn, depending on rank/sales:
- Managers earn 30% from level one sales, 15% on level two and 10% level 3.
- Senior Managers can earn 30% from level one sales, 15% on level two, 10% on levels three and four and 3% on levels five and six.
- Directors and higher ranks earn 30% on level one, 15% on level two, 10% on levels 3 and 4, 3% on levels five to 7 and 2.5% on levels 8 and 9.
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Midasama Offers No Products
Again Midasama doesn't actually offer a product.
The "returns" they claim to get for you are just the investments from new members.
Because of this, the scheme will collapse and most people will lose their money.
What I Like About Midasama
There's nothing to like here and Midasama should be avoided at all costs.
What I Don't Like About Midasama
Basically everything and the main reasons I don't like this company are:
- Large initial investment: In order to join Midasama you need to pay at least $1000 which is a pretty large sum of money.
- No products: This lets you know that you are in a pyramid scheme and that you're most likely being scammed.
- Payments come from new recruits: Since there's no product and revenue comes from new members. Current members are being misled about this and aren't aware the system will collapse.
- Doesn't disclose who owner is: This is another red flag and the only people they trot out are just puppets and don't actually run the company.
Is Midasama A Scam?
Don't join this company because you'll end up losing your money.
Midasama has all the traits of a scam including no products, only making money off recruitment, lies about revenue and not being honest about who runs the company.
This system will collapse eventually and the majority of people that joined will lose their money.
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Hopefully you've decided Midasama isn't right for you (it's a complete scam).
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