Profit Magnet is a SCAM Review!
Please read our review on Profit Magnet before investing into this binary options auto trading system!
Profit Magnet SCAM Methods!
Profit Magnet is a scam binary options auto trading system that was launched in November 2015 and it is still gaining popularity in this month as well (January 2016) where we get queries from some traders asking for our feedback on this auto trader. We are able to pin point a few scam-like elements to their website and Profit Magnet also claims to be able to make quite a significant amount of money on a daily basis. It is elements like their claims of being able to make $1,000 on a daily basis, the very element that causes innocent viewers to have high expectation which ultimately leads to disappointment and worst, loss of money. Please do go through the rest of our review for more details on our feedback.
Phrases like “guaranteed profits” and “earning millions” after a certain time frame is very common in binary options scams. Profit Magnet is one of the scam binary options auto trading service that emphasize heavily on it’s claim that it can generate $1,000 on a daily basis. In fact, that’s probably the main point that the presentation video is hoping to sell throughout. We would like to highlight that there is no such thing as “Guaranteed profits” in binary options trading. The simple reason is, there is simply no 100% certainty that a trade can be executed in the manner that we hope to. Binary options trading uses same data feed (price of certain assets) to conventional asset tradings where the price is extremely volatile and there will be a days where trades are not going the way we want it to be. Another factor that we believe it is important to highlight is, assuming that we would give Profit Magnet a try, and we invest the minimum $250 into a broker. We will need too gain a 300% gain at least in a day, just to satisfy our expectation to earn $1,000 per day. Profiting 300% a day in binary options is extremely unrealistic and this is exactly where many individual that gave Profit Magnet a try would be very disappointed and sore about it. This definitely can be avoided by doing some research on binary options and set a realistic expectation for it. We also recommend viewers to stay away from binary options auto trading software that promotes itself in this manner! Do not fall for their unrealistic claims and waste your money in it!
On the other hand, we find that Profit Magnet also employs a sales strategy to create a sense of urgency for viewers to sign up immediately. Which is another typical aspect that a scam website would use to encourage viewers to sign up. The alleged CEO, Aaron Martin claim to have limited spots to get Profit Magnet for free, before he launches Profit Magnet to public for a price of $997 set up price + $59 monthly subscription fee. He claims to have been giving free copies of Profit Magnet for 20 people a day for 5 day. AND conveniently, today is the last day (whichever day you were to view the video). We urge viewers to never succumb to this scam tactic because it doesn’t matter when you sign-up, because the offer will still be up as long as the website is up. Profit-magnet.net was created in November 2015 and it most certainly have exceeded their suggested 5 days of giving free copies. Additionally, the sign-up form is still working fine.
Profit Magnet is claimed to have a 98% success rate is also another unrealistic success percentage for a binary options auto trader. It is just going to be another expectation that lead to another disappointment should a trader expects this software to perform with that success rate. The “live trade” history that is shown in the second page is fake and highly suspicious, as the success rate is always 100% with no loss, no matter when we view the webpage. These are indications of a scam elements in the Profit Magnet website which by now we can safely conclude that any of the claims in the presentation are false claims that will disappoint it’s user most likely in the first day of trying this software out. 98% success rate and $1,000 guaranteed profits daily for the rest of your life? It is just unhealthy to have these expectation which will not come true and worst, lose money along with having this expectation.
Profit Magnet’s Conclusion
We conclude that Profit Magnet is a SCAM with it’s unrealistic claims of profits with pushy sales strategies to fool it’s viewers in signing up. Stay away from Profit Magnet and do not invest your money in such over-promising software. Do take a look at our list of Binary Options Signal for reliable auto trading software which has realistic results that can generate profits for you! Please feel free to connect to us via Facebook at Binary Options Sentinel or drop us an email should there be any queries! Good luck and trade safe!
Verdict: Profit Magnet is a SCAM!
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