Is Magic Money Machine a scam? It’s yet another automated software program that promises to make you millions trading binary options, but is it for real?
Let’s take a closer look and uncover the truth…
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Company Name: Magic Money Machine
Owned By: Jason X
Price To Join: Free (but investment required)
My Rating: 0/10
~ Magic Money Machine Review ~
A Word On Binary Options Trading
First let’s be clear that trading binary options is a legitimate way to trade the markets and make money. Unfortunately the trading arena has been infiltrated with a series of software scams that make ridiculous claims regarding their trading accuracy, with dodgy sales people and unregulated brokers promising wealth at the mere push of a button.
This review is about one such software platform, and not a slight on the binary options trading industry.
What Is Magic Money Machine?
Magic Money Machine is a software program developed for binary options trading. It’s meant to be a push button system that analyses data and makes all the winning trades for you on your behalf.
As much as I may like the name of this program, Magic Money Machine just sounds like a complete scam based on the name alone. I’d personally love to have a real magic money machine at my disposal. Who wouldn’t? Unfortunately it’s nothing more than mere fantasy.
The video makes some really outrageous claims. For starters, the presenter says that 100% of people who have jumped on board with Magic Money Machine have all been successful. Yes, you read that right – 100%! No one has ever failed with this system according to the video.
The video also states that Magic Money Machine offers the ONLY WAY to add $800 to your bank account in as little as 17 minutes. All you have to do is rinse and repeat over and over again and you’ll easily, without fail, be making around $3000 an hour at the mere push of the magic button.
Hell, this thing really is magic!!
What a complete load of garbage.
Seriously, only scam products have the audacity to make crazy statements like these. Why? Because they don’t have to live up to the claims. They never plan to. All they want to do is lavish enough BS on you that you’ll gladly hand your money over to them.
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How It Works
You watch the sales video, be dazzled by the promise of millions of dollars flooding into your account over the coming weeks, hand over your sign up details, then choose the “recommended broker”, hand him some money to trade with, get access to the magic platform, press the GO button and watch in awe as Magic Money Machine wins every single trade for you without failing once.
All of the above paragraph is true except for the very last part. That’s what they’d have you believe, that their software is just so accurate, all you have to do is let it do its thing and you walk away a millionaire in no time.
Why It Won’t Work
For starters, if software was this accurate, don’t you think every trader would be using it? Wouldn’t this magic system be taking the world by storm? Wouldn’t it be the talk of Wall Street?
It’s all fake. These trading robots are a dime a dozen and they all claim they will make you huge money without fail. It’s nothing but a powerful ruse to draw you in and get your money.
No software can be programmed to read the markets in this way and always get the trades right. People with decades of experience are not this accurate. How can a pre-programmed piece of software even get close? All it can really provide you with is some historical data to work with and make projections. That’s it.
Imagine handing over thousands of dollars to your broker and putting 100% of your trust in some dodgy software program to gamble with your money.
The Recommended Broker
The recommended broker is usually unregulated and on board with the person promoting the software and they all share in the scam. No regulated and reputable broker would touch this stuff for fear of having their license to trade revoked.
In other instances, there actually is no magic software whatsoever. It’s merely a sales pitch put forth by an affiliate who gets a juicy commission each time he or she sends the dodgy broker a new sucker to hand over money to them. Generally 30% of the investment amount.
Limited Spots Available
This is a favourite ploy of scammers. They’ll either state their opportunity is open to only so many people, or there will be a countdown timer of some sort. What they want you to do is hurry up and make a decision without thinking about it. They know if you think about it or, God forbid, do some research, you’ll soon figure out that it’s a scam.
And they can’t have that. These guys need your money to get rich off of.
In the case of Magic Money Machine, they say spots are limited to only 30 lucky people.
It’s all BS. There’s no limit on the number of people they’ll willingly fleece for cash.
Target Audience
They prey on newcomers to trading of any kind. They can’t target anyone with experience, because they’ll know it’s all bullshit. Binary options is a more simplified version of trading, and when you throw in a magic robot that does all the work for you, then just about any newbie trader will feel confident enough to give it a go.
What I Like
- I like the name of the program, but that’s about it
What I Don’t Like and Red Flags
- The broker is unregulated
- No software can accurately predict winning trades 100% of the time
- Possibly the software doesn’t even exist and the Jason guy behind it is merely a broker’s affiliate trying to earn commissions
- The videos are just full of lies
- The testimonials on the website are fake and they use stock photos for the alleged people writing them
- This software program is just one of hundreds of bogus platforms proliferating the binary options industry at present
- They will just steal any money you invest for trading
How Much Does Magic Money Machine Cost?
They claim it’s free and limited to only 30 people, but there’s no way known you can start trading without first handing your recommended broker a big chunk of change. Usually this is $250, which the robot will very quickly lose. From then on you will have the broker’s telemarketers calling you up and putting the squeeze on you to invest much larger amounts.
Is Magic Money Machine a Scam?
It’s absolutely a scam. These fake automated trading robots are one of the biggest scams going around today. Many times there is no software, just a bunch of traders in the backdrop gambling your money away. That’s provided any trading really does take place. Chances are they simply keep your money and keep asking for more.
Give the mystical, mythical Magic Money Machine a huge miss.
If you want to give trading a go, look for a recommended platform and brokers who are industry regulated. Do your research and stay away from anything that sounds too good to be true, because it will be a scam for sure.
Schemes like this one are a lot like gambling, so you might have better luck with this lotto system.
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I prefer to make my money online with something that’s genuine and a lot less stressful than trading the markets. It’s just not for me.
I run a successful affiliate marketing business online, and it’s something just about everyone can do if you are shown how. It gives me the freedom to work for myself and really enjoy my life.
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Darren Burton
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