Penny stocks have such a small value that a lot of people don’t bother with them any longer. While younger people may hold some value for a penny, most people will not waste their time bending down to pick up a penny off the ground. It usually is not worth the effort as it is such a minuscule amount.
It is a difficult path to negotiate and takes a lot of ups and down along the way when it comes to penny stocks. Some people may find it easier than others who find it easier than some people.
A bit of luck can gloss over a lot of other mishaps that you may be having and may cause you to do well for a certain period of time.
There are some different systems out there that are centered around penny stocks. We will now have a closer look at what the Penny Millionaire system has to offer and if it is worth your while dealing with it.
Introduction to the Penny Millionaire system
The person who does the introduction video for this system goes by the name of David Forrster. You very likely have seen this video and decided to do a bit of a background search to see the reviews for this system, just like this review. This is certainly a wise move on your part so you know the history of this system before you lay down your hard earned money.
Systems that model themselves around penny stocks have been shown time and time again that they do not back up the claims that they make. Is this system any different? Luckily we have done a comprehensive background check on it to answer this question for you with no risk on your behalf.
We were sent the introduction video by email so we decided to do an investigation into these claims. Everyone needs to be suspicious when it comes to anything that promises to make you money online when following a system so it is with the time taken to conduct the research.
There are many types of fraudulent binary options trading software out there that is fraudulent, so you need to be able to differentiate when this is the case. It is generally hard to believe that some pennies have the ability to change your life.
The Trading Platform
When it comes to the trading itself, the platform provided looks great but in terms of execution it is somewhat lacking. It is very basic and tailored well to beginners but for anyone with any sort of experience trading it very likely does not provide enough advanced features to cater for your specific needs.
The platform needs to be updated constantly which can lead to slow server times and glitches occurring and the so called profitable signals that are generated by a lottery seem to be just that – a lottery where there is not much evidence of substance to back up the claims of these signals.
How Exactly Will Penny Millionaire Work?
The person in the introduction video called David makes the claim that this system has the ability to change your life for good if you enrol and start to use it for your own trading purposes. He says that this is limited to only 100 people.
This is a classic tactic used by people trying to pressure customers into signing up. They place some artificial constraint such as only 100 places or a specific deadline before the system is closed to the public. They are trying to pressure you into making a rash decision and committing to it before doing adequate research on the system and the results they are claiming to promise.
Some of the ridiculous promises on their now dead website
He tries to go into detail as to how the system works but at the end of it, the whole speech is a bunch of vague statements rather than showing any real results. It is a similar system to many of the other poor quality binary options trading platforms and systems you see on the internet today with a small twist.
They claim that even if you have a dozen poor trades, all you need is one good trade a day and you will make nice profits. This sounds great – being able to make a ton of losing trades and only needing one trade to come off, but this in reality is more like a lottery where you are waiting for your lucky numbers to come up.
They push the claim that you can earn large amounts of income through the penny compounding system they run. Every time you win a trade there is a penny set aside into a special account where this money compounds over time. This is just a feature that is used to try and give you an incentive to place more and more trades with them.
In reality this system is not going to keep compounding to eventually allow you to earn tens of thousands of dollars let alone millions.
Their Level of Customer Support
One positive about this system is that their customer support team are on hand most of the time to answer any issues or problems you may be having. If you do question them a bit deeper you may not be too satisfied with their answers but they are decent on the surface level.
Reviews and Testimonials
One of the areas in which these types of sites will try to fool potential users into believing that they can actually earn hundreds of thousands and even millions from these systems is through the use of fake reviews and testimonials.
Very often they will hire actors or create the fake reviews and testimonials themselves. If you dig a bit deeper you can quickly see how they are in fact fake.
With Penny Millionaire on their site you can quickly see a fake bank statement. The company name on the statement would not be willing to conduct wire to wire money transaction internationally when the transaction is related to binary options trading.
One testimonial even calls the system a lottery and they don’t hide the fact that they don’t know if you are ever going to make decent profits at all.
There are also fake review sites out there when you do a Google search that claim to show amazing results using the Penny Millionaire system. Clearly these have been created to try and fool people into thinking that the system is a legitimate one.
How Do They Get Your Money?
While they often try to say that the system is completely free to use, you will quickly find that this is not the case at all. You will be looking at paying a fee of $250 before even getting started with the system and this amount will be charged to your credit card by an offshore broker that is not regulated.
This money will never be seen again if you try to get it back so make sure you don’t fall trap to this.
As you have seen, Penny Millionaire carries many of the most common attributes associated with scammy binary options trading and penny stocks systems and sites. The facts and the evidence cannot be argued against as it is irrefutable.
There is not a shred of doubt as to the real motives behind this system and the people who are trying to profit off of it by selling you a promise of something that is never going to come true. While you may have thought that this system on the surface was legitimate, this is what their goal is. Once you dig a little but deeper under the surface the true inevitably comes to light.
- Fake Creator
- Unsubstantiated Claims
- Website Not Available Anymore