Imagine making a profit of $1400 per day from an investment of $200 and without having to put any effort. That’s what the Free Money System app promises. But is it a legit trading platform? InsideBitcoins tests reveal that Free Money System is a scam. You will lose money if you deposit it with this platform. Our conclusion is based on practical experience as well as an in-depth analysis of individual users’ reviews. We have determined that most people who have tried this robot have lost money. We recommend the Bitcoin Future instead, where you can make real returns.
Is Free Money System a Scam? Yes!
InsideBitcoins investigation finds Free Money System to be highly suspicious. This platform has all the characteristics of a scam. Firstly, the testimonials on their website are all false. Our investigation shows that the photos used on the site are downloaded from the internet. Secondly, they provide a flashy video on their website with promises of making traders millionaires now if they click the “join” button.
In the video, Walter Green – the person behind the platform, claims to have created 152 new millionaires through the app in the last 90 days. A number of paid actors give testimonies of how the app has helped them get out of debt and own the most expensive houses.
According to Walter, the app is free and they allow traders to keep all their profits. This begs the question of how they make money. InsideBitcoins can confirm that the profit-making promises are not true. You won’t make a dime using this robot. Also, the only way they make money is by stealing users’ deposits. Our review indicates they pay a commission of $100 bucks for every signup made through affiliate marketers. It is a no-brainer that this money comes from the deposit.
Free Money System appears not to have any proprietary trading technology which means that it is just but a webpage to trick traders into signing up with scam brokers.
What is Free Money System?
Free Money System claims to be a 100 percent automated Binary Options robot. Binary options trading involve speculating on price fluctuations in multiple global markets. InsideBitcoins investigation reveals that Free Money System is not a legit trading robot.
This platform claims to apply computer algorithms to analyze data and identify trading opportunities. However, they do not provide any evidence that their algorithm works. Like all scam platforms, we are convinced that Free Money System is nothing but a page that connects traders to scammers.
The fact they provide little details about their trading technology is a likely sign that they have none. InsideBitcoins investigation finds a lot of complaints about people getting their trading account wiped out in a few minutes of live trading.
How does Free Money System work?
Free Money System requires a minimum deposit of $250 to start trading. This amount is deposited with their partner brokers. InsideBitcoins investigation has determined that the brokers in partnership with this robot are all scam. These brokers are unregulated and have poor online sentiment.
We are convinced that just like other scam trading robots, the Free Money System is configured to make losses. This means that no real trading takes place. Users’ are tricked into believing that the trading platform is real while all they are given is a webpage set to report predetermined results.
Further investigation reveals that traders who chose to opt out of this platform before live trading do not receive their money back. Free Money System customer service is almost inexistent with the only available channel of communication being an email. The scammers behind this platform only answer to inquiries when they are about how to make a deposit.
Who Founded the Free Money System?
Free Money System was founded by Walter Green, a self-proclaimed millionaire, and binary trading expert. He claims to be a “whistleblower hacker” who has released a $182 million secret code to help traders become millionaires in less than a month. This marketing technique is mostly used by scammers to get beginner traders to sign up without thinking.
InsideBitcoins did not find any evidence that this person is what he claims to be. There is a high likelihood that he is just but a scammer with little knowledge about the industry. He may also be a paid actor given that the people who give testimonies on the presentation video are actors. Our investigation reveals that at least three of them are hired actors from Fiverr.
Also worth noting, Free Money System does not reveal about its founding team. Walter seems to suggest that he made the app with the help of some programmers and seasoned binary traders but does not disclose their identity. Most scam trading bots lie or do not reveal about their founders. Perhaps this is in an effort to avoid being traced in the event of a dispute. We recommend that you stay away from this platform and only try tested and proven robots.
Why you should not sign up with Free Money System
Free Money System: Features
Free money system claims to help traders make at least $700 per day from an investment of $200. InsideBitcoins investigation reveals that this is no true. You stand no chance of making any money with this platform.
No deposits refund
If you deposit money with this robot, consider it as lost. They won’t allow you to withdraw it if you opt out before live trading. There are a lot of complaints about people not being able to withdraw their capital.
InsideBitcoins tests show that the Free Money System registration process is unsafe. As mentioned earlier, they keep shifting from one domain to another. Also, they appear to share users’ data with third-party scam brokers. This is typical of all scam trading platforms.
InsideBitcoins has determined that the people giving testimonies on the Free Money System website are paid actors. At least three have a profile on Fiverr offering video services.
Poor customer service
InsideBitcoins investigation shows that Free Money System only responds to inquiries relating to making a deposit. Once you deposit your money with them, they go missing in action.
Our investigation reveals that Free Money System partners with scam offshore brokers. These brokers are not regulated and have a reputation of scamming people. All deposits made through the platform goes to these brokers.
How to identify a scam trading robot
Scam trading robots are easy to detect if you know what to look for. InsideBitcoins suggests that you take into account the following areas before signing up with any robot.
- No transparency – Scam trading bots often do not provide critical details such as the founders’ identities and the logic behind their trading technology. They also do not disclose their legal registration.
- Fake testimonials – The testimonials on their website are likely to be false. You can determine this by downloading the images of the people giving the testimonies and carrying out a Google reverse image search. You are likely to find that the photos are from stock sites.
- Poor online reputation – Scam robots are likely to have a lot of negative reviews. Also, be wary of those with a few perfect reviews. A trustworthy robot is likely to have many reviews, the majority of which are positive.
- Keeps moving from one domain to another – A trading robot that keeps changing the website domain is likely to be a scam. The majority do this to avoid scrutiny if there are a lot of complaints about them.
- Exaggerated claims – Scam robots have a tendency of using flashy videos to get people to sign up. These videos often make exaggerated claims and ask you to signup immediately to join the millionaires club.
Recommended trading robots
Is Free Money System legit? The Verdict!
InsideBitcoins tests reveal that Free Money System is a scam. We give them a legitimacy score of 10%. Legit trading robots must score above 70%. Top trading robots score above 80%. There are a lot of complaints about Free Money System making consistent losses. Our investigation reveals that their platform is set to make consistent losses. Furthermore, this platform does not refund the capital of traders who opt out before live trading. We recommend that you stay away from this robot and only try tested and proven trading robots.