We keep coming across old scams every time we search the internet. It simply means that scammers are dedicated to snatching your money even in 2019. Walter’s FMS is just a suspicious website and if you go in blind, you will lose money. The site is allegedly presented to potential traders by someone called Walter Green. We do not want to believe that this name is the real identity of the owner of Walter’s FMS. The reason why this is so is because these scams are so common and 99% of the time, they don’t disclose their identity whatsoever.
According to Mr. Green, this system is free to use and can generate for you lots of passive income. That’s an old vibe and to our surprise, it still works, which is why some people still get scammed. He claims that Walter’s FMS system can open and close trades on your behalf.
Like many other dubious trading apps that have no history of consistent performance, the Walter’s FMS is free to use. Now, this begs the question of how we can make a lot of money using a free robot that does not have any hidden agenda. This is not to say that free robots are entirely bad. It only means that when a dishonest person on the internet promises you a free robot that makes a lot of passive income, you should think twice.
How do we know that they are dishonest? Well, there are enough clues on their website and we don’t doubt at all that this is a scam job. If you want robots that can trade Forex well, go for these ones.
There are several investment scams that we have come across so far. Most of them have already been covered here. What we have noticed is the similarity between these scams, and now Walter’s FMS is not any different from what we have seen.
The fact of the matter is that Walter Green is not the real name of the presenter, and secondly, this guy was hired to do a video of lies. He is at the core of many investment scams on the internet. He was paid by the anonymous owner of this website to handle the video and presentation part, hence it does not surprise us when we find him here too.
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This game of scamming people with recycled trading apps started nearly 3 years ago with an app called the Millionaire Blueprint. The Millionaire Blueprint scammed a lot of people in the era of binary options trading. This forced regulators in other countries to sound the alarm warning people not to invest with this Walter Green project where the faceless character used to roll out many different types of fake trading robots targeted at people who wanted to trade binary options.
By the way, when you compare the two products (Millionaire Blue Print with Walter’s FMS), you will find out that they are sharing the same video. So that means the scammer behind these sites did not want to invest in a separate video because he was hoping that internet users won’t come across the two sites at the same time.
You can see how malicious and lazy this person is. It’s going to be very difficult to stop this scammer from rolling out trading apps that have been white labeled from the previous versions. But the most important thing is that you should learn to identify these scammers from the word go. If we know who they are or even how their sites look like, we can save our monies from going down the drain.
It is supposed to convince you that you can automate your trades with their chosen broker. You can even be shown a demo of how it works and the results it can achieve, but the problem is that this demo is fake and the price feed is also fake.
With regards to how you will get started, the owner of Walter’s FMS will ask you to sign up with an unregulated broker. But this will be the last thing at the back of your mind and you won’t think that the broker is unregulated and could harm you financially.
Take note that Walter’s FMS system can’t be activated until you have deposited a specific sum into that broker’s account. This sum is usually $250. In the meantime, you will have been convinced by the demo results of this software and will be eager to start making money with the software at whatever the cost.
Because in the real account the software does not work, you will eventually lose all your deposit. Remember the demo is programmed to fake results and give the highest win rate. But in a live account, the story will change and you will begin to record one loss after the other.
Most people have ended up asking for their money back from these brokers. But the outcome should be obvious. No unregulated broker can refund your money no matter what/ Everything they will tell you from this point onward will be centered around persuading you to deposit more money.
It will be so unfortunate that after you lose your money with the Walter’s FMS through an unregulated broker, no one will be able to help you since your money is not kept in a segregated account. This is one of the requirements that regulated brokers should fulfill.
It is very easy to spot these dubious trading programs for Forex, Binary options and Crypto currencies on the internet. Walter’s FMS is not a new software. It is a very old scam that even attracted the attention of regulators some years ago. If you truly desire to trade, our advice is that you should use software that are recommended by the trading community in general. Some of the robots’ licenses can be found here. If you are interested, simply sign up and start trading.
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One Reply to “Walter’s FMS Review: A Copy of an Old Scam”
How can I know/check if a broker website is a scam? I found this: WALTERFX.COM
Do you know it?
Is any regulated broker list?