Follow Me Trading Review Is Followmetrading.com Legit

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Follow Me Trading Review: Is Followmetrading.com Legit?

Followmetrading.com Review: this is the website of a social trader platform that also offers trading classes. Is Follow Me Trading a scam? Forex traders keep looking for more effective ways of earning profits and the services offered by this company might interest some. But before starting a business with the firm, read the well-detailed review below.

The most vital part of our reviews is the uncovering of if a company or Forex broker is properly licensed or not. To do this, we first establish the location or region where it claims to be based. Then we check with the commission or authority regulating trade there whether it is listed among regulated companies or not.

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Follow Me Trading or FMT mentions that it is based in Malaysia. Forex trading in this region is not regulated by a specific commission. But the company itself does not mention any regulation or license. This kind of company lacking corporate information looks shady and untrustworthy.

Investing in a company that is unlicensed poses many dangers to traders’ funds. Misappropriated funds may not be recoverable by the government as well. Unlicensed brokerages are not under any rules of traders and this puts traders in more risk than they will be in if they had chosen properly licensed ones.

Advantages of Follow Me Trading

They offer to help clients earn a secondary income. It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

How to Join Follow Me Trading

First, interested clients are to register an account with FMT. Followme Trading does not charge anything for registration. Clients who have no trading experience can follow the trades of other professional traders and make profits. Experienced ones can share their strategies and earn up to 30% of every member that follows them.

After setting up the account above, clients can set a stop loss and amount per trade. The FMT also has a system that ranks traders based on their performance over a period. They get paid only when people follow their trades.

Follow Me Trading Academy

FMT has an academy to train students to become better traders. It is run by expert instructors who were market makers, brokers, and business leaders. Courses offered cover the whole education and training needed to develop skills of execution for almost all trading instruments.

Traders can earn by becoming affiliate members of the service. What they need to do is sell subscriptions and earn by commissions. Binary.com is named as the preferred broker of this service along with IG Group.

Client Feedback

As a vital part of our reviews, we consider what people who have made use of a product or service are saying about it. We always prefer this on third-party websites rather than on the official page of the service itself. This is because sometimes, what we find could have been manipulated.

On Forex Peace Army we found only one review and it was a negative one. A former customer of this company accused the service of using up her funds and not refunding her.

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Support

To contact the customer service, interested clients should call +61 7 3088 2829 or send an email to [email protected]

Recommendation

We do not rate Follow Me Trading or FMT highly because it is based in an offshore location. Further, the image of the company is tarnished by the detailed negative review we found from an aggrieved client. The social trading service it offers is tempting but we are not told if live results of these traders are available.

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Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

FollowMeTrading.com Review Visit site

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Follow Me Trading

Follow Me Tech Pty Ltd

Customer Service

+61 730 882 829 (Australia) 0 0
Mon 8:30 AM – 6:00 PM
Tue 8:30 AM – 6:00 PM
Wed 8:30 AM – 6:00 PM
Thu 8:30 AM – 6:00 PM
Fri 8:30 AM – 6:00 PM
Sat Closed
Sun Closed

Complaints & Reviews

investing

Follow me trading is the biggest scam and their $1 trial is not free. You will be charged regardless so don’t give them your details and save your money!

I know 16 other people including myself who are going to be taking action against FMT and exposing them as the scamming con artists they are. This company rings you up out of the blue, pressures you into doing a verbal agreement to do a free day trial and then when you tell them you are not interested in their service (because it sounds like gambling), they try to charge you $2300 for it using excuses such as, you have broken the contract by not completing the free trial when it was them in fact that did not complete the trial because they were too busy trying to convince me that their strategies are not gambling when they are actually regulated under the gambling association which they denied by the way.

Then when that tactic didn’t work, they accused me of lying because they reckon I told them that I had access to $30k in liquidated funds when in fact I told them specifically that i only had access to $30k through equity which needed another signatury because i was only part owner of the property. They also intitially told me it was only gonna cost $12k start up and then went up to $30k startup.

Regardless of this, by the end of day 2 of the trial I wasn’t interested in what they had to offer but agreed to complete the trial because I was obligated via this verbal contract. Before I started the trial I was very clear about what i actually agreed to at the beginning because they told me that I was being recorded. As soon as I heard the verbal agreement they played over the phone, I didn’t like what I was hearing so I told them that I didn’t agree to what they stated but I verbalised on the audio that I would agree to a 3 day trial and if I didn’t think that was the best investment strategy for me then I could pull out under no obligation, which they agreed to. On day 3 of the trial the guy rang me in the morning and instead of placing bids he spent the whole time trying to convince me this strategy was not gambling again. In the end he didn’t ring me in the evening like he was supposed to in order to fulfill his end of the contract, however he probably thought it was a waste of time so he didn’t ring which means he voided the contract anyway

After all this they tried to get my Credit card details off me after that for only $1 trial fees then pay $27 per month on going for the rest of my life. :-)

Since then over the past 2 months I have had these guys threaten to take me to the creditors. I then had d&b creditors threaten to take me to court and give me bad credit rating.in the end the creditors gave up and 2 days ago I had follow me trading litigation call me and threaten me with court. Their litigation officer is called maurice law (how ironic) and he was another one who liked talking over the top of you and not giving a crap what you had to say. I told them to go right ahead and take me to court and to listen to the recording and get their facts straight because I know what I did and did not agree to and don’t like to have words put in my mouth. I have requested for them to send me a copy of my audio recording and haven’t heard from them since.
I have not paid this company a single cent and I suggest you don’t either. The accc state that all contracts are entitled to a 10 day cooling off period regardless of the circumstances, so clearly what they are doing is wrong.

If you have been scammed by these guys and would like to take joining group legal action against them then please contact me. I also urge you to report
Follow Me Trading to ASIC and ACCC as well as fair trading. Good luck

My name is Josh Cavallaro and I am the CEO and founder of Follow Me Trading.

1st of all I would like to point out to any of the public reading this, none of what Maurice is saying applies to our company at all.

We at www.followmetrading.com do not charge signup or setup fees whatsoever. In fact, our service is completely free to make an account and check out the site. We charge an optional month-to-month subscription fee which is $65 per month – only if you want to follow other traders.

The way our system works is as follows: we have 2 types of accounts – trader (which is free) and follower (which is paid). Any member who wants to follow a trader pays the subscription fee. A percentage of that member’s subscription goes to the trader they are following. Our system is totally performance based, actively encouraging better performance from our traders and educating those who want to learn how it’s done or get started themselves as a trader. Traders get paid by us on their performance & following; the better trades and more people following them, the more money the trader makes.

Subscribers choose who they follow from a leader board which ranks every trader we have, with stats showing their performance.
We do not lock people to agreements/contracts or require clients to continue to pay and ongoing subscription.

I welcome anyone to come to our program and see for themselves – you can setup a free account here at https://www.followmetrading.com/signup

We know our service is that good that we do not need any signup fee or contracts as our members continue to use the service simply because it works… We also have our own public social network which enables people to chat, post, comment, etc, to any member, trader, or staff on our network. It is a completely open trading community.

Maurice, I am troubled and concerned that you have had such a bad experience somehow linked to our name Follow Me Trading. I would implore you to please make contact with me personally, if this is a serious complaint, what you have stated will have our legal department eager for more details as we will be doing a full investigation into this matter ourselves.

Please contact me at +61 07 3088 2829 and let’s resolve this matter.

Interesting to say the least

-So do you have a AFSL? your product seems to be Selling of Financial trading signals?

– Which Binary broker / product do you people have to use to trade your signals? where are they regulated?

– Do you get any financial benefit from them? because Binary is a OTC there is normally a conflict of interest between a trader and the “Broker” Could you please clarify?

– I have read Binary.com has endorsed you to trade for them – please explain?

– If your signal service is so good I am sure your company and your staff trades itself, Are you prepared to show proof of that?

ASIC Commissioner John Price said, ‘The dramatic increase in unlicensed conduct – particularly in entities offering binary options – is of real concern to ASIC.

‘We remind investors to be wary of advertising on websites or unsolicited calls or emails by people offering these types of products, and to verify that product providers are appropriately licensed or authorised before dealing with them’, he said.
Products such as binary options are very complex and risky. Australian investors may be exposing themselves to increased risk when they deal with an entity that is not appropriately licensed or authorised in Australia because they will not be able to rely on many of the protections available under Australian regulation.

Australian investors should check ASIC’s professional registers to determine if an entity is licensed to provide financial services in this jurisdiction and should not deal with an entity that does not hold the appropriate authorisation.

Are you authorised?

I have been with Follow Me Trading since Josh Cavallaro started it after Markets and You. I am just losing money hand over fist. Down to 118 dollars in the kitty today. I have done everything you have said to do but still my account has just been decreasing over time. Sure the system sounds great, and if it worked I would be making money instead of paying out a subscription fee each month and losing each trade on top of that. I have always paid a subscription and was not aware that there was a free account. It may be a completely open and free trading community but FMT removes any negative comments from the system. This is not a defamation on you but on the system. It is binary trading and yes it is gambling. I have learnt the hard way and lost all of the money I have invested over the time I have been with FMT. I have never been much of a gambler and got swayed into thinking it was a real system in hopes of providing a little pocket money in my retirement. Please people, do not be a sucker like me and loose you hard earned money with FMT. Sorry Josh, you are a nice person but I am so over the promises and excuses and want to warn any other older persons, who may be hoodwinked into giving this gambling system money in the expectations that it is a trading system to JUST STAY AWAY – IT’S GAMBLING NOT A TRADING SYSTEM

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