Free Money System: Scam or Legit Trading Robot?

Last Updated on

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.

  • Robot
  • Rating
  • Properties
  • Trade Now
1
 
The best choice
  • 99.4% Claimed win-rate
  • $250 Deposit
  • Autotrades crypto

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.

  • InsideBitcoins gives Free Money System a legitimacy score of 10% – top trading robots score above 80%
  • Free Money System does not provide details about the logic behind its trading platform.
  • There are a lot of complaints about people losing their deposits with this trading bot.
  • Keep reading to learn more or try a legit robot by reading our Bitcoin Future review.
Want to find a legit bitcoin robot? We recommend Check out our bitcoin robot guide.

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

InsideBitcoins investigation reveals that Free Money System is a scam trading robot. Here are some of the top reasons as to why you should not register with this robot.

Unsafe registration

InsideBitcoins finds the registration process with this robot to be unsafe. First, they keep shifting from one domain to another perhaps in an effort to avoid being identified as scammers. Secondly, there website and web-trader does not encrypt data meaning that hackers can access it easily.

Safe platforms should have a Secure Socket Layer (SSL) certificate and should have measures in place to safeguard users’ data. A good example of a data protection measure is to ensure that passwords created on the platform are strong and to advice users to change their passwords after every three months.

Zero profits/ No money guarantee

We have determined that it is impossible to make any profits using the Free Money System. The Free Money System appears to be configured to make consistent losses until a trading account is depleted. Just like in most scam robots, it takes less than an hour to lose $250 worth of deposit using this system.

Also, Free Money System does not refund money to traders who opt out before live trading. The provided withdrawal methods do not work and the customer service is not available to help users. As mentioned earlier, InsideBitcoins customer service only responds to inquiries relating to how to make a deposit. Traders are likely not to get any help after that.

No Demo trading

Free Money System does not provide any demo trading platform. A demo account is important since it helps traders get conversant with a trading platform before live trading. Most scam robots do not provide a demo trading account. Perhaps this is because their main goal is to solicit deposits after which they go missing.

Predetermined Live Trading Results

You have no chance of making any money with this platform. From our tests, we are convinced that the free money trading system is set to report losses. There is a high likelihood that the platform does not have an underlying trading technology. The majority of scam robots usually provide a webpage that mimics a web-trader.

Free Money System: Features

Zero Payouts

Zero payouts

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 Refunds

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.

Unsafe registration

Unsafe registration

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.

Fake Testimonials

Fake testimonials

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

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.

Scam Brokers

Scam Brokers

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

InsideBitcoins carries out in-depth research to determine legit trading robots. All the robots in our recommended list have been tested and proven to be legit. The following are the top picks for the best trading robots in 2019.

Bitcoin Revolution

Bitcoin Revolution is among the most popular crypto trading robots in the market today. InsideBitcoins investigation has determined that it is possible to make $1000 in profits per day using this app.  The minimum amount required to trade with this robot is $250.

  • Robot
  • Rating
  • Properties
  • Trade
1
 
Most popular auto trader
  • 88% Claimed win-rate
  • $/£ 250 Min Deposit
  • Accepts Debit and Credit Card
All trading carries risk

Cryptosoft

Cryptosoft guarantees investors a daily average profit of $1300 from an investment as little as $250. While we cannot guarantee that you will make such profits right from the beginning, we can confirm that this robot is legit and you will make profits with it. Cryptosoft applies high-frequency trading strategies to capitalize on trading opportunities in the crypto markets.

  • Robot
  • Rating
  • Features
  • Trade
1
 
The Best Choice
  • 88% Claimed Win Rate
  • $250 Min Deposit
  • Accepts Credit Card, Sofort

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.

Remember that all investment opportunities carry a certain risk. This especially applies to cryptocurrencies, which are still relatively young in the financial markets.

FAQ

Is Free Money System a scam?

Yes! InsideBitcoins investigation reveals that Free Money System is a big scam. You stand no chance of making any profits using this platform. Also, they are likely to disappear with your money if you deposit it with them.

How much should I invest with Free Money System

This platform is a scam and you should not invest any money with it. We recommend that you only trade with the tested and proven robots in our top picks list.

How much can I make with Free Money System?

The scammer behind this platform claims that a trader can become a millionaire using the platform. However, our investigation reveals that it is a scam and you stand no chance of making any profits through it.

 

Remember, all trading carries risk. Views expressed are those of the writers only. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.

About Patrick Webber

A cryptocurrency and trading writer and editor, I specialise in algorithmic trading. I’ve written about every type of automated trading tools - from cryptocurrency robots, binary option robots, down to robo advisors. My goal is to write honest reviews about automated trading tools in order to help users understand which software are trustworthy and which ones they should stay away from. I am constantly analysing and scrutinising the up and coming trading apps so if you are seeking advice or if you would like me to write a robot review in particular don't hesitate to get in touch – I’m happy to help!

Leave a Reply

Your email address will not be published. Required fields are marked *