Free Money System Review – Fully Automated Binary Options Trading Robot?
The Free Money System is a fully automated binary options trading robot that is supposedly so accurate that it can turn its users into millionaires in just 90 days with just an initial $200 deposit.
What Is Free Money System?
The Free Money System's web page is hosted on a site that's registered privately, preventing easy identification of the company and its ownership.
However, the promotional video on the website is narrated and hosted by an individual known as Walter Green, who claims to have developed the software system.
Green claims to have made over $48 million using his methods. Additionally, he says that a total of 152 members of his company have become millionaires, all within 90 days.
The Product.
The Free Money System product is a binary options trading signals program and built-in auto trader. The software analyzes historic trends in the
binary option auto tradig options markets and then predicts whether the price of a particular asset will rise or fall.
Users can then place a trade based on that prediction manually or they can allow Free Money System to automatically make the trade on their behalf. The system is supposedly highly accurate.
There is no fee to use Free Money System. However, users have to make a deposit with one of the company's recommended brokers in order to trade using your own money. The minimum deposit is $200.
The Opportunity.
The opportunity presented by Free Money System is to make massive amounts of passive income using an automated system and a small deposit of $200.
Verdict.
Does the Free Money System sound too good to be true? That's because it is.
Sadly, there's more than enough evidence to classify Free Money System as a binary options trading scam, based on more than a few red flags – the biggest being that there's no actual person named "Walter Green" – and the revolutionary breakthrough of a auto-trader robot he's supposedly created isn't any more accurate than any other bot.
That's right – the promotional video makes extensive use of paid actors and fabricated stories, all to make the opportunity look like a legitimate one.
There are several review sites across the internet that have pointed out these discrepancies, and they have all said the same thing: any company that hides its true ownership behind a private website registration and creates fictitious identities to tell stories to prospective customers simply cannot be trusted.
What's really going on here is that the "recommended brokers" that Free Money System works with are paying the company behind the auto-trader bot to refer new accounts to them. For every $200 deposit made to one of these brokers, Free Money System receives a referral fee.
The beauty of this, from the perspective of Free Money System, is that they profit whether or not a new investor makes successful trades, so they can really tell their prospects anything to convince them to sign up.
Moreover, these recommended brokers are more often than not completely unregistered and unregulated.
This provides little legal recourse for a trader who encounters a problem with one of these unregulated brokers – and there have been some reports that individuals trying to withdraw their winnings from one of these brokers is unable to.
Finally, if you're not convinced that Free Money System isn't a complete scam, take a look at the site that hosts it. A little tinkering with the web address reveals eight different "get rich quick" schemes hosted on the site, not including Free Money System.
One of them, Dubai Lifestyle App, we've reviewed in the past, exposing it as a possible scam in its own right. Do you think a legitimate investment trading opportunity would share web hosting space with eight other similar services that all have similar claims?
All these programs can't be using incredibly successful binary options trading robots. The odds are just too high. What's much more likely is that none of these sites are legitimate – Free Money System included.
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