Midasama supplies no data on their web site about who owns or runs the corporate.
Midasama’s web site area (“midasama.com”) was first registered again in 2016.
The area registration was final up to date on Might twenty eighth, 2019.
The Midasama area registration itself is non-public, offering no possession data.
Additional analysis reveals “Morgan Matthews” cited as a “enterprise director” and “affiliate associate” of Midasama.
Naturally there’s no details about Matthews exterior of Midasama’s personal advertising and marketing materials.
Earlier than Matthews, Midasama have been utilizing some man they named “Edward Fox” to advertise the corporate.
The prop laptop computer actually demonstrates Fox’s dedication to buying and selling directing.
So far as I can inform, Midasama solely trots Morgan Matthews out for promotional occasions.
The 2 occasions I got here throughout have been “strategic partnerships” with Daweda and StarWealth.
Daweda is a Cyprus shell firm. In line with Alexa, there may be little to no visitors to Daweda’s web site.
Daweda’s present web site seems to have gone reside on or round mid 2018.
Visitors to StarWealth’s web site is so low Alexa doesn’t even rank it. It seems to be one other shell firm, this time primarily based out of Hong Kong.
It’s price noting that StarWealth’s web site area was registered inside a a month and a half of Daweda’s in 2017.
On the time of publication Alexa pegs 84% of visitors to Midasama’s web site as originating out of Malaysia.
It’s extremely possible that whoever is definitely operating Midasama is predicated out of Malaysia itself.
Midasama’s web site defaults to Chinese language, so it seems that is one other occasion of random white guys being paid to entrance a dodgy Asian MLM firm.
As at all times, if an MLM firm is just not brazenly upfront about who’s operating or owns it, assume lengthy and laborious about becoming a member of and/or handing over any cash.
Midasama’s Merchandise
Midasama has no retailable services or products, with associates solely in a position to market Midasama affiliate membership itself.
Midasama’s Compensation Plan
Midasama associates enroll and make investments funds on the promise of month-to-month returns of as much as 20%.
Midasama supply 5 package deal price-points:
- $1000
- $5000
- $10,000
- $50,000 and
- $100,000
Midasama’s compensation plan represents a constant 15% month-to-month return, which is break up 60% between the affiliate and the corporate.
Midasama Affiliate Ranks
There are six affiliate ranks inside Midasama’s compensation plan.
Together with their respective qualification standards, they’re as follows:
- Supervisor – enroll and make investments $1000
- Senior Supervisor – make investments $5000 or recruit three Managers
- Director – make investments $10,000 or recruit three Senior Managers
- Diamond – recruit three Director ranked associates and generate $300,000 in whole downline funding (max $100,000 from anybody unilevel leg)
- Gold Diamond – recruit three Diamond ranked associates and generate $1,500,000 in whole downline funding (max $500,000 from anybody unilevel leg)
- Black Diamond – recruit three Gold Diamonds and generate $6,000,000 in whole downline funding (max $2,000,000 from anybody unilevel leg)
Residual Commissions
Midasama pays residual commissions by way of a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the prime of a unilevel staff, with each personally recruited affiliate positioned straight beneath them (stage 1):
If any stage 1 associates recruit new associates, they’re positioned on stage 2 of the unique affiliate’s unilevel staff.
If any stage 2 associates recruit new associates, they’re positioned on stage 3 and so forth and so forth down a theoretical infinite variety of ranges.
Midasama cap payable unilevel staff ranges at 9.
Residual commissions are paid out as a proportion of returns paid to unilevel staff associates throughout these 9 ranges as follows:
- Managers earn 30% on stage 1 (personally recruited associates), 15% on stage 2 and 10% on stage 3
- Senior Managers earn 30% on stage 1, 15% on stage 2, 10% on ranges 3 and 4 and three% on ranges 5 and 6
- Administrators and better earn 30% on stage 1, 15% on stage 2, 10% on ranges 3 and 4, 3% on ranges 5 to 7 and a couple of.5% on ranges 8 and 9
Infinity Bonus
Midasama’s compensation plan particulars some kind of Infinity Bonus however doesn’t go into particulars.
From what I can inform it begins on the Diamond rank and seems to be era primarily based (three generations).
- Diamonds earn 3% on as much as three generations
- Gold Diamonds earn 3% and a couple of% on as much as six generations
- Black Diamonds earn 3% and a couple of% on as much as 9 generations
Once more, this isn’t explicitly clarified in Midasama’s compensation plan so take the chances above as unverified.
Becoming a member of Midasama
Midasama affiliate membership is tied to a minimal $1000 funding.
Conclusion
Midasama is what you’d count on from yet one more fraudulent Malaysian foreign exchange scheme.
White man puppets operating the present, dodgy returns and the standard MT4 merchants bullshit.
Midasama claims to have a “state-of-the-art Foreign exchange funding mannequin” that sees it make use of the “world’s prime merchants”.
On the fitting is how Midasama symbolize their merchants.
These clearly bogus dealer names are hooked up to My FX Ebook accounts, which the corporate claims demonstrates buying and selling historical past.
This can be a frequent sufficient ruse utilized by Malaysian foreign exchange scams.
What’s or isn’t visibly traded on random My FX Ebook accounts has nothing to do with Midasama itself.
If it did the corporate would register itself with the Financial institution of Malaysia and function as a professional funding alternative.
As an alternative Midasama gives unregistered securities and operates illegally.
Because it stands the one verifiable income getting into Midasama is new funding.
Utilizing new funding to pay associates a “sustainable revenue month-to-month common revenue (of) 15%” makes Midasama a Ponzi scheme.
Along with securities fraud, having no retailable services or products additionally makes Midasama a pyramid scheme.
As with all such schemes, as soon as affiliate recruitment dries up so to does new funding.
This starves Midasama of ROI income, finally prompting a collapse.
The maths behind MLM Ponzi schemes ensures that after they collapse, the vast majority of buyers lose cash.