Jake F.

Let's just get straight to the point. I've setup an account with freelancer.com. As a free member, I only have a VERY limited number of bids for open projects. If you used up all your number of bids, you won't be able to bid another project until the reset of number of bids (which is every month). In order for you to get more bids for a project, you have to pay up.
This is for the $1/month account/member upgrade:
15 Bids Per Month
30 Skills
Unlock Rewards
Unlimited Project Bookmarks
Custom Cover Photo

This is for the $56 account/member upgrade:
1500 Bids Per Month
400 Skills
Daily Withdrawals
Unlock Rewards
Unlimited Project Bookmarks
Preferred Freelancer Eligible*
Custom Cover Photo
Unlimited Employer Followings
Unlimited External Invoicings
Free Project Extensions
Free Sealed Projects
Free NDA Projects
High Value Project Bidding*

Rip off! What if I don't get any projects? I get to spend my money for nothing?!

Here's another one. I believe that most employers posting their job offer is a scam. Beware of people posting job offers that their method of payment hasn't been verified. That's the thing about freelancer.com. How come employers can post job offers without their mode of payment not being verified?

Here's a personal experience of mine.

2 employers contacted me for a project that they posted. I saw that their mode of payment wasn't verified yet.

Employer #1:
Told me that I only have to do data entry. Just do a copy typing. It means I have to type everything that I see in an image or pdf file. But first I have to deposit money to be able to get the job. The amount that I will deposit depends on the plan that I am going to work on. Ex: Plan 1 = $25, Plan 2 = $32, Plan 3 = $47 and the last is Plan 4 = $62. I told them that I won't be able to deposit the money until tomorrow. The next day I tried contacting them. Upon emailing them, after clicking send, gmail notified me that the account has been disabled or no longer exists. I tried contacting the employer on freelancer.com's chat, but they didn't reply. BE CAREFUL with this type of people. If you guys are wondering if I made the deposit, my answer is no.: D

Employer #2:
The employer posted a job with a good pay (upto $750). I made a bid on that job and got the job. The job was, I was supposed to do an data entry. Type everything from a pdf file and save it on MS Word. But when the employer emailed me, the employer just sent an executable file with instructions that I open the file and just type everything I see and click enter. There was no pdf file. Still I open the executable file. All I got is to type the captcha and click enter. The employer will pay me $20 for every 1,000 entries of captcha. What happened to the original offer? (dunno)

So if you plan to sign up with freelancer.com, again, ENTER AT YOUR OWN RISK!
If you do, just be careful when accepting job offers.