Is Mia fintechfx scam investment and money game?

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In recent years, CopyTrade and investment are very popular, so some Money Game agents are used to deceive prey.

By making extraordinary offers and lucrative investment returns that will surely make anyone interested (including me).

Recently, a money game named Mia or Fintechfx that claimed to get extraordinary dollar income by copy trade a trader named James Harrison.

CopyTrade is where traders (beginners) copy and follow experienced traders, where the copy trade can bring profits.

Now, after I searched, the origin of Mia fintechfx turned out to be from Singapore or Malaysia, but the source was not credible so I also doubted the truth.

What is clear in the web identity hidden and disguised as if from Australia, but the reality may not be from Australia?

Based on information found on the internet, one of the Mia fintechfx bosses named Jensen Choong.

However, after I searched again, there was also mention if the correct name is Beckham Choong.

Btw, if that's the right one, can the boss change the name?

Therefore, because the boss can change names, I began to suspect at the time that the investment/copy trade would be dangerous because the structure was not very clear. Yes, right?

Now, as we know from June 2019, Mia fintechfx proves to be a scam, because many traders claim that suffer losses and the balance changes to 0 (zero).

MIA Management said the strange thing because they hacked it. But that is just a reason for the scenario to calm the clients who confused by it.

Even though MIA management said that they hacked it, we could just believe it, because we knew that hacking a broker would not be as easy as turning the palm of the hand.

We know that most brokers place funds in segregated accounts, where the security of funds guaranteed.

After further investigation, it turned out that the incident was not a hack, but the MIA Fintech FX proved to be a scam and maybe took away money from the client. I do not really know, whether a few months after the case the client's money returned or not.

Before being proven a scam, there are several facts that Mia or Fintechfx are doubtful and threatened with fraud, including:

  • Funds transfer to FintechFX is through collectors or individuals, which is strange because it is not directly with the company name.
  • They also send withdrawals of funds from collectors or individuals comprising many names as if using a third party.
  • Withdrawals of funds that can do without authorization from the account owner, which means he can also carry customer funds.
  • The claim was MIA from Australia, but after checking on Alexa (a site that ranks several sites in the world), the visitors were mostly not from Australia, but from Indonesia and Malaysia.
  • Funds from deposited clients are not under the supervision of the regulator (segregated).
  • Using the terms of the latest forex trading trends, i.e. Copytrade from great traders and brave claims to provide high profits which I need to suspect of.
  • Besides, there is a member bonus that is large and makes little sense, and this uses the 'Ponzi' scheme because that is already one of the typical features of the money game.
  • James Harrison, who said to be a master trader and claims to have traded over 8 years ago, no one really knows the real popularity of the trader.
  • Every weekend copy trade profits from James Harrison collected in the FintechFX broker account automatically transferred to the accounts of clients at MIA. How can that happen without allowing the withdrawal process? That also makes more suspicious.
  • The operating status at the time was also strange, information from several leaders said it had been operating from 2006, but when examined on the Whois website, it turned out that web and domain activation did not match that.
  • The claim is MIA as a Distributor or IB of FintechFX but this claim is doubtful and in fact; it is the same boss.
  • Dare to give returns above 10-15% per month to the client regularly and that is also doubtful.
  • The claim is that FintechFX has a permit in Australia, but after tracing the permit there is no one to mention that the derivative is also suspicious.
  • Verification of MIA trading results on myfxbook is using the FintechFX broker where the broker is self-owned and does not include a popular broker so there are doubts in it.
After I searched further on the internet, many mentioned that why MIA can have a good portfolio on myfxbook because it uses its own broker (Fintech FX) which can manipulate prices as if it were in the real market.

Even though the MIA Fintech case has conducted many months ago, but the search for MIA Fintechfx is still quite a lot of who are curious to this day.

I checked earlier on Fintechfx's site when the case was still warm about MIA fraud, apparently the site could not open.

But I am interested again in writing this MIA because after I visited the Fintechfx site (at the time of this writing I wrote) it turned out that this site was reinventing. Where this site is active again as before.

And after I checked the Alexa rank, they estimated it at 7.5 million (before it exposed scam case, that sites have Alexa rank: hundreds of thousands) and after checking again the Alexa was getting bigger and there was no data. In MT4, I also looked for a Fintech FX broker but there was still a list.

Here comes the thing that makes it interesting to me because the site is operational again. So, I'm curious whether the client's funds that previously harmed have returned so they dare to operate again?

If there is an MIA client and reads this post, can you ask for clarification, was your money returned or not during the fraud case?

Judging from the ranking of the site, there are still no visitors, but what I fear for the future is that there are many clients who will fool again. Hopefully not ...

The correct way for CopyTrade, it should allow customers to choose their own brokerage company as a place to place their funds, and not forced to place in a particular brokerage company so it will be more flexible.

Although many other brokers also provide a copy trade but make sure the broker must credible and regulated first.

Now, at the end of 2019 and welcoming 2020, is it possible that there are still lots of money games and other scams that will re-emerge? We'll see, what is clear is we must always be vigilant, right?

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