FMTrader Scam – Find out the truth!

By | December 23, 2013

Monday, December 23rd, 2013 by Michael Freeman

After posting the review on Vault Options, a binary options site with a shady side to it, I discovered a few troubling facts that I had to share with any traders who recently found the FMTrader or 777Binary sites. If you’ve been following my blog, you already know that scam sites tend to reincorporate under various names, in case of course they end up getting tons of negative reviews. The ability to advertise a completely new brand, yet with the same goal in mind, same crooked staff and business plan, they’re able to move on as if ‘nothing happened’ carrying on with the same practices, trained and ready to scam more traders.

Imagine owning a fake binary options site and within a few weeks or months, you end up getting many negative reviews and complaints on the brand you created, what would you do? The answer is very obvious. Reincorporate under different names! This is also why I always stress the importance of registering with one of the veteran brokers with an established reputation.

An established brand is here to stay and will avoid at all cost getting complaints on forums and various binary options related sites. 

After doing a little bit of research on the new FMTrader Brand I discovered that it’s owned by the same company that’s behind 777Binary and Vault Options, which both are %100 scams! They operate without CySEC regulations and a CIF license and worst, they refuse withdrawals, freeze client’s funds and systematically avoid complaints. The only customer service you will get with these brands is when you decide to fund your account, in this case you can expect high-end customer service, phone calls from the most friendliest representatives and basically anything they can do to trap you! Once FMTrader got you, they will not stop until they get you to deposit more and eventually wipe out your account in creative ways.

FmTrader.com

 

FMTrader is a SCAM! aka 777Binary aka Vault Options 

It turns out that reliable brokers tend to incorporate under one name, and they do everything they can to maintain a solid reputation. Acquiring full EU regulations, providing same-day withdrawals  and building trust with their traders is at the center of their agenda, while scam brokers are only concerned with getting as much money from unsuspecting trader as they can.

My binary options channel on YouTube is visible to traders around the world and I get to correspond with traders on a daily basis.  I love to hear good news from traders but in many cases I end up receiving a good amounts of emails from traders who fell victim to a scam site, and in many cases have lost high dollar amounts of $5,000 and more. For many traders $5,000 is equivalent to a year of hard work, only to eventually lose it to some scam site…

Avoid Scam Brokers! 

Trust me that I am not interested to ruin your experience with binary options. I personally feel very fortunate to have found it a few years back and even with the ‘dark side’ and all the scam brands that are out there, binary options can be an amazing experience and a highly profitable one! In my list of scam brokers you will find tips for how to identify potential scams and known scams that are operating without a CIF license and regulations. I beg you to avoid these brokers and if you don’t mind, please share your experience below and help deter other traders from falling victims to one of many scam sites that are terrorizing the industry.

I am not going to spend any of my precious time talking about FMTrader.com they’re really not worth my time. This article is the only few minutes of fame they’ll get from me. If you are looking for a reliable broker, visit the recommended brokers section on my blog. Stay with the Regulated and legit guys. Avoid new companies and if you are not sure, don’t underestimate the power of a quick Google search! You will be amazed with how much information you can find to assist you with making a smart choice.

17 thoughts on “FMTrader Scam – Find out the truth!

  1. Gillian

    I have been waiting since December 2016 to retrieve my money from Fmtraders after they told me to make money I have to deposit $1000usd. I decided I didn’t have that money so I would like to just pull out and retrieve my $250usd that I borrowed. It’s May 2017 and I still can’t access my money…

    Reply
  2. Margaret Heywood

    The same broker took $60.000 from me.wiped me out also. I had requested a $500 refund from the months ago, but did not hear anything. Then on the 22/12/16 Christian Green rang and said he was going to help me with same withdrawal,asked me to sign into any desk which I did when it opened my bank log in page was on the screen? He said I would have to sign in so he could put the $500 back in .he then took remote control of the computer and his mouse went straight to my account ,I told him to leave that alone he told me not to worry ,then said he was sending me some codes(which I presumed was to put the money back in) .I did not notice until later that day what had happened and rang him back and told him I wanted that money back in my bank and was told not to worry even if it was traded it would be guaranteed and insured .I told him again I wanted my money back.I later got an email he was sortin the money out and he woul ring me in a few days .There was no phone call
    I emailed twice with no answer I finally rang and asked him where my money was .He told me that he had put it on 2 trades and they lost.This has really affected .me mentally and physically.THESE PEOPLE MUST BE STOPPED
    They seem to play on the Elderly that they know are not computer savvy

    Reply
    1. Kellie

      Same thing and same guy happened to us. We were fortunate enough to be with the ANZ bank. We rang their internet fraud number and told them what had happened. They recovered almost all of our money. Contact your bank.
      We also have almost $10,000 sitting in the FM Traders account still. They ignore our refund requests.

      Reply
    2. Kellie

      Go to your bank and tell them everything. That you have been a victom of fraud. The bank managed to get nearly all if our money back from this mob. The total amount transfered to the fm traders trading account and lost by Christian Green.

      Reply
  3. Kellie

    FM Traders just took my mother for $50,000. The broker Christian Green told her that her funds were guaranteed and insured and that she couldn’t loose the money. He helped her to transfer every last dollar from her accounts through team viewer then lost all of it whilst trading on her behalf through team viewer. She is currently wiped out financially and Christian Green wont call her back.

    Reply
  4. Nouman

    Thanks for this useful blog, I am another victim of Fmtrader scam, they took from me nearly 3000 USD, and I lost half of them, I have been trying to withdraw the remaining amount for more than one month with no success till now..they keep telling me that they have some technical difficulties and they did not give me any explanation, I decided to go further with them but I have no any idea about how to trouble them to get my money back, your advice is appreciated.
    regards

    Reply
  5. Vicky Richards

    Hello Mike,

    It really amazed me to read this article that you wrote here about us.
    I wonder where this information comes from.
    Any way – all the traders who come and visit this site – Mike is posting these articles for a better SEO performance, and obviously not because we are scammers.

    Good luck to you all

    Vicky Richards

    Reply
    1. Michael Freeman Post author

      Vicky, don’t get into the lion’s den … you guys are not legit. I have emailed from customers who got burnt out pretty badly by you guys and yeah, I love the SEO I get from your review and if you have any problem with that. Do what you got to do..but I now know that you guys are stalking me and from past experience I know that companies have tried to attack my blog.

      So I warn you..I know you are a scam. If you mess with me online/offline you will pay for it. Remember to refund custmers back their money and if I hear that you freeze another account, I will start helping customers with chargebacks against you and all kinds of stuff.. so I am glad you are amazed and I will not go into more details, but remember not to mess with me…remember!

      Reply
  6. Trent Fellows

    Hi I was obviously scammed from fm trader they still have $500 of mine and are asking for all sorts of details off me too with draw it. ! Do I send it too them. ? Or is there another way too get my money back ?

    Reply
  7. peter mcgrath

    hi Mike
    great info really glad I discovered your site week ago has saved me from opening an account with cedar and also stopped me from spending $997.00 buying profitsin60seconds software was just about to buy when I discovered your YouTube videos on them and the loads of negative reviews this was my Christmas present thank you regards peter McGrath
    ps is there any real trading signals platforms in the binary trading market??

    Reply
    1. Michael Freeman Post author

      Hi Peter, unfortunately many signals services perform way below what they advertise such as in the case with the Profits in 60 seconds software. I tried several services lately, the highest performing services are Taurus Signals, Updown Signals and Signal Feeds. Taurus Signals is a live trading room, while Updown and Signal Feeds will email or SMS you the signals. Checkout the list of binary options signals services. Cheers! Mike

      Reply
  8. Norayati M.I

    A lightning speed fist! Well done Mike. This great consistence effort will definitely save many traders and as the industry grows, you’ll also become an icon of the industry itself. I believe you’re aware of that too :). I was one of the unlucky. Bad experience with Banc De Binary! Here I would like to share a way to alert/alarm other traders (especially the newbies). I realize one thing about this SCAM ‘Account Manager”s attempt to lure their clients by emailing at once all of them! With the same language and style. I believe you know/get what I mean. One will notice clearly there were many,many,many other emails in the CC. So, we could actually email all of these people by copying and pasting their emails and send them a warning and Mike’s links. I did gradually email three to five of them at once, and find many of them replied with so many sad stories. The worst part was that they were clueless on what to do to recover. I think I had been contributing something to save as many traders as I could. And, what ever it would be, BO will be shaping the future. Thanks to the technology and peoples like Mike!

    Reply
  9. Mike

    Please keep doing what you. I was scammed by two bad guys before I found you.Vault and Global Trader 365. Now I am working with a couple you reccomended and just starting to recover. It’s too bad there insn’t a way to sppeed the information on these bad guy around the world before they do so much damage to this industry? I wounder bif there are ways to notify credit card companies about them. Or a pay-it-forward kind of blog that goes viral with your warnings and your videos. I am happy you care enough to warn people and try to help others. Great job. Great Guy!

    Reply
    1. Michael Freeman Post author

      Thank you for the comment Mike! I’ve been thinking about this topic for months and I think that the only way to stop these scams once and for all is to restrict the credit card processing merchant companies from providing ‘high risk’ merchant services. If Vault Options was to partner with a ‘Bank of America’ credit card processing company, after a few credit card disputes, they would freeze their funds and shut down their merchant abilities. In order to get around this, scam sites, knowing that they will get tons of disputes, they much rather partner with a ‘high-risk merchant services’, for higher fees, these processing companies allow companies like Global Trader 365, EZBinary and Vault Options to continue operating with a high dispute rate. These credit card processing companies are just as bad as the scam sites! I wish I had the power to do something about this, but it’s beyond me, the only way to truly put an end to internet scams is to shut down these high risk merchant services! Limit companies dispute rate to %1-%3 max! If they pass the %3 charge back rate, shut them down! The solution is actually really simple but everyone is too greedy to do anything about this! I do believe in justice but sometime justice shows up when it’s already too late.

      Reply

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