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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Whirlpool

  • from July 2020
  • to October 2020

So the other day I got a phonecall from someone (no idea how they got my number) looking for my email address etc. I was out and about with my son at the time, was pretty occupied and gave my email thinking it was in regards to something I had going on at work. They sent an email with the following:

The purpose of this introduction is to provide you with foundation knowledge of Market Security Corporation and

the benefits associated with binary trading.

The “Market Security Corporation” – success

Binary trading, opposed to the orthodox way of utilising the stock market which is generally the purchasing and

selling of shares, is a revolutionary trading method that allows you to capitalise on an entire country’s stock market

movement –when it both rises and falls!

By simply following our market analysts’ predictions of when a market will move as a whole over a designated time

period, you are able to generate an instant return on your trade outlay (anywhere from $500 to $2000, tax free per

week). These predictions are sent at approximately 7pm daily via SMS.

Market Security Corporation originated in Germany in 2009 and through its diversification has expanded

internationally, with the head office now based in Australia. There are market analysts based in Germany and

Australia providing signals and market news. Along with this data further information is obtained from the foreign

exchange, futures and commodities markets. This all contributes to the overall success of the alerts provided to the

The major and most recognised benefit of binary trading is the ability to trade without purchasing long-term trade

contracts or shares. In today’s economic climate, being able to make money regardless of whether a market rises or

falls has been proven to be one of the trading index markets most lucrative attributes.

MSC employs a blend of cutting edge technology and a second-to-none customer service department to ensure a

service that compliments the lifestyles of corporate and private investors alike.

Due to the high success rate of trade alerts issued, MSC is now a leading global binary analyst provider and has

increased its client base by 83% in just the last 3 months. We look forward to speaking with you further about

becoming a member of MSC and teaching you the simple method of binary trading.

Let us show you how binary trading is the safer and more profitable trading option then long term stock market

For further information, please contact our office on 1800 753 551.

Market Security Corporation CEO

The email letter looked pretty legit etc. Their website is: marketsecuritycorp.com

Based in Brisbane apparently etc. Got another phonecall today, from some soothing older sounding gentleman telling me about Binary trading and the money that Market Security Corporation can make. I lost all interest when I heard of the crazy returns. Website also looks a bit crap for a “financial” outfit. I made my excuses and politely ended the call.

Has anyone else heard of this crowd? It’s surely a scam.

It’s surely a scam.

May as well pick red or black.

If in doubt – ask for a free trial

We can appreciate your questioning of legitimacy towards a trading method that is unknown to yourself. Any trading method requires complete understanding before proceeding and to know both the upside and downside. I can assure you that binary trading is a legitimate form of trading and also known as Index Trading. I have included some qualified independent third party links to websites for you to review yourself about this form of trading.

Thank you for bringing to notice our ‘crappy’ website also, I will certainly bring this to the attention of management :)

Without trying to further ‘sell’ you the service and I would like to note in response to an above comment by another forum user, we would also be happy to provide a free trial.

Kim W.
Customer Service & Training Team
Market Security Corporation

By simply following our market analysts’ predictions of when a market will move as a whole over a designated time period, you are able to generate an instant return on your trade outlay (anywhere from $500 to $2000, tax free per week).

Or if they are wrong, lose the same amount just as quickly!

While I wouldn’t call it a scam, it’s very high risk, and if they were that good at it, they wouldn’t need your money!

The tax free bit gives it away. Only gambling is tax free.

Hi, I have had this very same experience with a company going by the name of
Australian Market Trading Professionals Pty Ltd.
Has anyone else been contacted by them. It is almost an identical story to market Security Corporation.
I would like to know because as embarrassing as it sounds. I have been scammed and am now trying to work out how to get my money back and hopefully how they can be caught!!
So far i have had zero assistance from any government agencies in trying to help my locate them. Even though they have a registered ACN and have a registered bank account.

If Mr William Bennett could reliably beat the market ‘whether it goes up or down’ he would just be borrowing money at 6 or 8 or 10% and piling it into market until he was Australia’s most famous share trader. But he’s not doing that. He’s foregoing all those riches to help you make those incredible returns yourself, for a small fee of course. Nice guy that Bill Bennett.

I have included some qualified independent third party links to websites for you to review yourself about this form of trading.

Let’s have a look at the page you refer to:

These platforms may be considered by some as gaming platforms rather than investment platforms because of their negative cumulative payout (they have an edge over the investor) and because they require little or no knowledge of the stock market to trade. According to Gordon Pape, writing in Forbes:

“. this sort of thing can quickly become addictive . no one, no matter how knowledgeable, can consistently predict what a stock or commodity will do within a short time frame.

Emphasis mine. Revolutionary trading method indeed.

Hi everyone, it’s 100% scam, they do not have office in Brisbane that is fake address, I wanted to see office always they make excuse, like we are locked up for G20 now they are saying it’s Christmas time, but Christmas is still three weeks away, they say they are running since 2000 but if you look at company ACN that is registered with different name. ACN is registered with MARKET YOU PTY LTD. which is even not active since 2000, it shows active since April 2020 and recently registered for GST. You can imagine how fake they are. They will disappear where you will search them. There is no office in Brisbane at all. And no real ACN by market security commission.you can call to ASIC and confirm about company it never ever registered with ASIC. So what else you need to say them scam.

I’ve been dealing with them they are 100% scam if you want to scale them away ask them that you want to go to meet them in their office that’s will be the last day to call you

If Mr William Bennett could reliably beat the market ‘whether it goes up or down’ he would just be borrowing money at 6 or 8 or 10% and piling it into market until he was Australia’s most famous share trader. But he’s not doing that. He’s foregoing all those riches to help you make those incredible returns yourself, for a small fee of course. Nice guy that Bill Bennett.

Just posting to say I had a good laugh on my lunch break.

It’s pretty much a scam/ high risk that your odds are better to play red or black at the casino.

Key words to look out for when people offer you a surefire way to get rich quick:

‘Revolutionary’; ‘instant return’ (!); ‘lucrative’; ‘cutting-edge’ and ‘second-to-none’.

This email has them all.

It’s not even a very good attempt.

I have been dealing with a company called Market &you who trade industries through Binary.com.

I purchased the Premium package early this year you get 4 years and nine markets. I was told by the salesperson that I would earn $600 a week up to $2000 a week.

I was also told within three months $39,387.71 less $5000 start-up money= $34,387.71.
I have not earned any money I have lost money for the last four months.

I was told you only get one every 4 to 6 weeks Due to European market vocality no alerts will be sent out for tonight no trading this is not true this is a lie.

I was told you get up to 4 trades or more a day this is not true. This company say they have 92% well if that is true I would have more money than what I put into my binary account.

I also have evidence by the way of video and audio evidence that their sales people lie to people by telling them they made a profit since February this year until May 2020 this is also a lie.
Market Securities Australasia Team in association with Markets and You Pty Ltd I was told that market and you are the owner of the above company.

I am not sure what to do with the evidence I have and how to go about stopping this company lying and deceiving people and ripping people off from $14,000 depending on what package they buy there is dearer packages than this one. Please help to put a stop to this company deceiving people. Please help me to bring this to the public so that they do not get ripped off by this company thank you.

I am not sure what to do with the evidence I have and how to go about stopping this company lying and deceiving people and ripping people off from $14,000 depending on what package they buy there is dearer packages than this one.

ACCC claims, in its annual scam report released a fortnight ago, that investment scams, of which Binary trading was the first mentioned example, had the largest losses of any telephone scam in Australia in 2020:

“Cold calling investment scams resulted in the highest reported losses for phone based scams with $11.5 million lost based on 879 reports. Most of these reported losses related to offers of investment opportunities in binary options or the opportunity to buy shares at lower than market rates.” (my emphasis Pg. 11 Targeting scams Report of the ACCC on scams activity 2020, ACCC, May 2020
(https://www.accc.gov.a u/publications/targeting-sca ms-report-on-scam-activity/t argeting-scams-report-of-the -accc-on-scam-activity-2020)

More generally (i.e. not just telephone contacts like the OP), around $24M is lost annually from investment scams (See Table 1 on Page 5), out of $85M in total lost. Note that this is only scams reported to ACCC. This is the tip of the iceberg as most people are too empbarrassed to say anything. Nevertheless, ACCC is focusing on romance scams (no. 1 @ $25M) with its enforcement (See Page 28).

I think this is a bit depressing. Scamming is growing like topsy, we know the big offenders, but ACCC won’t go for them. ACCC blames being unable to prosecute overseas operatives as the major barrier to stopping scamming more generally. Markets & You claim on their Facebook page that they operate in Australia https://www.facebook.com/MarketsAndYOU/ in Brisbane, but don’t list an address. However, their web domain www.marketsandyou.com is registered as a .com private domain so it’s owners’ location is unknown.

So, I guess the answer must be provide the evidence to ACCC https://www.scamwatch.gov.au/report-a-scam, but we know they already have hundreds of similar claims that they don’t appear to be doing anything with. The very best thing you could have done is report it on WP, which you’ve already done. WP has a high hit rate, and sometimes will be the first page that a Google search gives for a company, thus being the best warning to other potential victims.

We find your comments concerning and would like to make personal contact with you, however we are unaware of your real name or details. Can you please contact us direct on 1800 212 544 so we can resolve this matter.

Exotic options are not for retail investors. How these products skirt financial regulations and can be marketed legally is beyond me.

Is there some legitimate use of binary options? Under certain circumstances, maybe.

When they are offered by these types of promoters, it is ALMOST IMPOSSIBLE for the customer to make long-term gains. This is because of the huge markups on the options, they are not easy to value so customers are easily fooled into thinking they are getting a good deal. The house edge in your average casino offers better odds to the customer than dealing in these products.

If it sounds like a scam, and they call you like a scammer, then I would guess it’s a scam.

These binary options companies are gambling at best, pure fraud at worst.

These binary options companies are gambling at best, pure fraud at worst.

I posted back in June that ACCC had listed cold called binary options investments as the highest loss telephone scam scheme in Australia for the past year. Unfortunately, they also said that there was little or nothing they could do about this scam, as despite appearing to be local Australian operations, they were in fact overseas and out of ACCC’s jurisdiction.

ACCC has since at least put out some warnings:

Binary options trading that involve predicting the movements of commodity, asset or index prices over a short time. If you agree they direct you to a website with a login, account details and a trading platform. They appear to put your money into the account and demonstrate a number of successful trades to encourage you to invest greater sums. Then your money begins to disappear and so too does the scammer.” ( ACCC 17 th July 2020 https://www.accc.gov.au/media -release/beware-high-risk-no-reward-investment-scams)

Though they do not name Market Security Corporation (long since defunct www.marketsecuritycorp.com) or Markets And You ( still online and posting today) or any perpetrator for that matter, they clearly warn consumers that operations with similar modus operandi engage in transactions that are suspicious. Markets And You’s trading platform www.binary.com still exists, but it’s caveat text at the bottom of the home page is worth quoting:

“This website is marketed in the UK and Isle of Man by Binary (IOM) Ltd., First Floor, Millennium House, Victoria Road, Douglas, IM2 4RW, Isle of Man, British Isles, licenced and regulated by (1) the Gambling Supervision Commission in the Isle of Man, British Isles, current online gambling licence issued on 31 August 2020, and for UK clients by (2) the UK Gambling Commission” (my emphases)

So, it’s definitely no better than gambling, though ACCC thinks some operations of this type, that ACCC unfortunately declines to name, are a lot worse. Note also, that the Isle of Man is “overseas” as ACCC would say, in a very strong sense. The Isle of Man is not part of the United Kingdom despite it’s citizens being British, and it has it’s own commercial laws which have been used to provide secrecy to companies engaged in illegal activities elsewhere in the world (e.g. Canadian tax fraud www.cbc.ca/news/business/kpmg-offshore-sham-1.4006469). You certainly should not make the mistake of thinking that you are dealing with a UK company.

ACCC also give the general investment advice that you should not take any cold call offering investment advice:

“Hang up or hit delete on all cold calls and emails offering unsolicited advice on investing.”

Investment advice should only be accepted from well known companies obtained by personal referral. A lot of pain reported on Whirlpool would be avoided by people doing this, but then we’d have not much exciting to talk about on WP, would we?

Dated Monday 4th September 2020
Hi, I am letting everyone know that I have been in contact with Market and You quality control.

I’m happy to say and to let everyone know that the company has improved the sales people dealing with people the previous salesperson is no longer working at the company which I am very happy to know.

I have suggested to quality control that I ring in as a mystery person to make sure the sales people are doing the right thing by the company and by the public. I’m also happy to say that the trades have improved and I am very happy to say the way Brady has treated me is fantastic with respect and was very courteous in working out the above problem that I had with the company.

Brady was kind enough to ring me when he child was sick with said a lot about how much he cares about people like me. I am very glad to be able to talk to such a caring person and very happy to ask anyone if you have a problem please leave a message here so the company can get onto it straight away which I can tell you they will.

I’m also happy to say that the trades have improved .

How much have they improved?

You were promised, you say, investment returns of $600 to $2,000 gross per week, expecting after three months to average $730 per week. You say your investment outcome was:

I have not earned any money I have lost money for the last four months.

This is under a binary options trading system which is licensed as gambling, and which (though not necessarily this company) is expressly warned against by ACCC as the most costly phone scam in Australia.

So, are you now meeting your revenue target? If so, have you recovered your losses? Or have you been offered a settlement in exchange for providing a positive review?

So, I guess the answer must be provide the evidence to ACCC https://www.scamwatch.gov.au/report-a-scam, but we know they already have hundreds of similar claims that they don’t appear to be doing anything with.

The Herald reported some ASIC action on binary options scams today. ASIC accuses a Mr. Tony Senese of operating a website when he was legally restrained from doing so (http://www.smh.com.au/busin ess/contempt-of-court-action -against-family-accused-of-r unning-binary-options-site-20200917-gyj4do.html)

The Herald reported some ASIC action on binary options scams today.

And ABC Radio National broadcast on the weekend a Background Breifing program (4Corners for radio!) on binary options with an in-depth interview with an Israeli Binary Options scammer:

The program has a number of interviews with victims, scammers (both voluntary and involuntary – the latter during a police raid) and scammer hunters, plus recordings of actual scam calls. It puts the human side to the scams.

A couple of points from the program told on that second page:

  • Binary Tilthttp://www.binarytilt.com is a, possibly now defunct company (website says that it is temporarily unavailable in Australia “due to regulations”) that offered Binary Options but which Australian and Canadian authorities warned against. It was owned by Chemmi Holdings Limited and in turn by Depix Holdings. There’s an interesting story about how the investigative journalist contacted the listed owners of the business, but still came to a dead end. It’s just one of hundreds, but as a case study it tells the story about how hard it would be to find any company or person to sue behind the scams.
  • Wealth Recovery Internationalhttps://wealthrecoveryint.com who are a company that had two staff interviewed about their work getting money back from binary options companies. No statement on their success.

Didn’t work (see archive view), but perhaps time will heal the wound!

[Edit: probably not the last post bug then! Time didn’t heal it (or at least overnight), so I’ve reported it under a known unsynced content bug /forum-replies.cfm?t=2654825&p=-1&#bottom]

. perhaps time will heal the wound!

It appears this was the case, after a couple of days elapsing, as explained by Thor >>Forums>>Feedback>>Archive and Standard View having different content.

Binary Tilt http://www.binarytilt.com is a, possibly now defunct company (website says that it is temporarily unavailable in Australia “due to regulations”) that offered Binary Options but which Australian and Canadian authorities warned against.

The website is now truly defunct, but for the record, for anyone suspecting similar scams, this is what it looked like in February about when it last operated: http://web.archive.org/web/20 180202004423/http://www.binarytilt.com/.

If you look in the Wayback Machine archive you can see that this site operated for five years, a long time for scamming sites!

Markets & You claim on their Facebook page that they operate in Australia https://www.facebook.com/MarketsAndYOU/ in Brisbane, but don’t list an address. However, their web domain www.marketsandyou.com is registered as a .com private domain so it’s owners’ location is unknown.

Markets and you is referred to frequently by this trading site’s Facebook page:

However, the domain name expired in April.

The Facebook site now refers contacts to https://www.followmetrading.com/

Therefore it looks like Follow Me Trading, is the current phoenix of Markets and You. Markets and You, in turn, were claimed by a poster here to be connected to Market Security Corporation. This poster later made a bizarre post claiming, to the contrary, that all was good with these people, so not sure how reliable this all is. Posters who do a 180 o turn and change from being ripped off to saying that the scammers are persons of integrity, have often reached some kind of financial settlement with the scammers where they agree to change their review. I have had another private message claiming that Market Security Corporation was the first entity of FollowMeTrading, for what that’s worth to close the circle.

Thanks to a private tip-off for this.

In further details, the domain followmetrading.com is registered as follows:

Registrant Contact
Name: JOSH CAVALLARO
Organization:
Mailing Address: PO BOX 1034 SMITHFIELD, CARINS QLD 4870 AU
Phone: +61.499731231
Ext:
Fax:
Fax Ext:
Email: [email protected]

This transparency is surprising to say the least. Note that the previous domain was private, and indeed, it’s very rare for any kind of trading site with a US domain to not be private. Private domains are not allowed under Australian net registry rules for .com.au.

Josh was accused of running a cancelled event scam from this address in 2020 (https://www.cairnspost.com. au/entertainment/cairns-talk -pop-con-fans-upset-they-can not-contact-organiser/news-s tory/5fcb93eca98afbbc02a77c85c39b1d28). A cancelled event scam is where a fake promoter lists an event, customers pre-purchase tickets, but then the promoter cancels without notice and is not available for refunds. Josh denied that it was a scam, but argued that it was rather a misunderstanding by a few customers due to an untimely website malfunction. Qld Fair Trading confirmed that accepting money for unsupplied services is illegal, but did not make a statement on the legality of the episode itself.

Hello everyone I would like to address this post as its heavily defaming remarks.

My name is Josh Cavallaro and yes I was one of the CEO’s at Markets And You and yes I did get mixed up with some people from the gold coast who basically destroyed the 6 years of work I put into making a system to generate people a secondary income.

As I have told any client we have called from Markets And YOU this was the reason why I left the company and started all over again.

I challenge anyone to prove anything I’m about to state to be wrong:

1. Markets And YOU and binary – Yes its true I have used binary.com as a preferred broker of choice as they are the second largest binary options platform in the world. However it is NOT TRUE that we lure people into putting money into binary we do not get any sort of kick back from binary so there is no benefit or reason to do this. Just like any broker if you know what your doing you can generate money through successful trading this has been and still to this day is my main focus and goal. To create a program that would allow people to follow successful traders automatically.

2. Sign up Fees – Follow Me Trading has NEVER charged ANYONE signup fees. our prices are public, we do not lock people into contracts, and we charge a very fair price of $65 per month no contacts, no signup fees, if you like our service keep going, if not, don’t – its as simple as that!. We have a open community within our program where users can chat to one another or post and comment to anyone on our network including the traders, staff, and other members. Also I would like to make this very clear we do not have invested interest in what size account you fund with binary we do not make money off it what so ever, $100 or $10,000 it dose not matter. We make our money from people continuing to use the service and paying the monthly fee and for that we need to perform as no one would continue using a system that does not work.

3. People claimng to be charged $17,000 – Follow Me Trading’s prices has never included a signup fee. However before Follow Me Trading I was involved with a company called Markets And YOU who did charge big sign ups fees. The person responsible for doing ALL of the sales and that side of the company was a business partner who I made the terrible mistake of going into business with. After 4 years of disappointment I left the company. This was the whole reason why I started Follow Me Trading to get away from people who have no moral compass. I would also like to add that Follow Me Trading has nothing to do with Markets And YOU it would only take 2 mins of research to discover this fact.

4. The event that was canceled in cairns – This was an event which I put together to save a dying magazine which used to go out to 40,000 homes in cairns called cairns talk. The event cost me over $60,000 to which I did not get back, after the event was canceled. As stated in the cairns post and also public knowledge the event was canceled due to an internal staff problems and it was decided to cancel it because of the size of the operation and the staff who walked out had to much responsibility to replace under such short notice. Secondly, ALL tickets wore refunded. Im pretty sure the cairns post would have a lot more to say if this was not a fact!! Anyone reading this please do check the links, and see for yourself that these two people making all these allegations are doing nothing more than twisting story’s around in order to defame me.

I would also like to say to the two people who are writing these defaming remarks about me under the new laws in Australia with regards to defamation and public slandering you should know that I can and will be using this against you – I have engaged in legal action and currently a case is being built. This is a serious offence and I would recommend you seek legal advice.

I am formally requesting that these comments involving my name and other remarks be removed as they not true and they hurt my reputation and new business which has over 400 members and growing every day. If anyone would like to ask any questions regarding my past or current activities we are an open book our name phone numbers and program is all public knowledge.

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