Armchair Millionaire Scam Review- Riding Another Program’s Coattails

Posted by Vince in Not Recommended | 0 comments

With the Binary Options Trading industry, I thought I’ve seen it all – fake news stories, fake testimonials, fake software, and fake promises. Apparently, there’s no limit to man’s imagination when it comes to scamming. What am I talking about? Here’s the deal:

When you check The Armchair Millionaire on Google, you’ll generate results from legitimate sources such as GoodReads. So, what is a trading software doing on a book review site? Unfortunately, the scammers realized that the best way to lure in people while getting excellent (and free!) SEO would have to be by copying the name of another MLM (Multi-Level Marketing) program. Plus, there’s even a book entitled The Armchair Millionaire written by Lewis Schiff and Douglas Gerlach and was rated 3.40 out of five stars.

In fact, the URL difference is that the MLM one ends with .org while the scam has .net in it. You can check that out, by the way.

So the first thing you’ll notice when you open armchairmillionaire.net is the annoying email squeeze that pops up every few seconds. Even if you don’t close the page and merely open a different tab, it keeps on reminding you that your shot at becoming a millionaire is expiring. Of course, the pop-up window is complete with a fake timer.

Anyway, the man behind the system is a stay-at-home dad. Well, that’s new. Usually it’s the stay-at-home moms but they probably figured it was getting old so might as well twist it up a bit. Okay, that’s beside the point. So they promise $3450 profits INSTANTLY.

That’s basically the first red flag that you see though I commend the creators for going out of their way to invest in a professional-looking site that’s easy on the eyes. But enough of that, here are some of the USUAL things you see on other scams just like this:

• The fake countdown and outrageous but baseless profit potential which I’ve already mentioned.
• The lure of a luxurious and wealthy lifestyle that EVERYONE dreams about (yes, there’s a sarcastic tone on that one)
• It’s loaded with fake testimonials from people whose services you can hire in Fiverr for a measly $5. Right, so much for earning thousands of dollars.
• Money that will take others to earn in a year, you can get in a week. Isn’t that something?
• They show real news clips from legit sources like CNN Money BUT remember, it’s not them – it’s the other Armchair Millionaire program.
• The creator sells the usual story that he came from nothing and he’s basically a-nobody. He has kids and a wife all complete with stock photos. He also graduated from MIT and he was at the top of his class which made IBM “chase” him. Then, his father-in-law is a successful Wall Street trader. Already see where this is going?

Actually, there’s more to the sales video but I cut it short because it was selling such a crappy and overused back story about a geek who just wants to help people.

Right, if you’re familiar with how binary trading works, you’ll know this is just one of the hundreds of programs or systems promising thousands of cash while you do nothing. But if it’s new to you, let me give a brief explanation of how binary trading generates profits and WHY automated software such as this is nothing but a big fat scam.

With binary trading, you only get two options: CALL and PUT. You choose whether you think a stock will go up or down. With those choices, you already have a 50% chance of winning. But the software, as they claimed, will not just give you the right signal but also trade for you automatically.

Now here’s the cold hard truth: IT DOESN’T WORK simply because no technology in the world could do that YET. The creator, with all his efforts, is in it for the affiliate commission which he can get the moment you deposit the $250 amount he mentioned in the video. There’s no software, no system and no program. AND if by any chance you win, the broker gets 15-30% of the amount.

To sum it up, it’s a win-win situation for them and a loss-loss for you. So here’s my straightforward advice: Stay away from Armchair Millionaire. At least, this one!