Product name: Self Made Millionaire System
Product owner: uknown
Price: Free to join, but requires investment
Verdict: Not recommended
Self Made Millionaire System is a new program also known as SMMS claims it can make you a millionaire with little work from your side.
It starts with a classic “Congratulations” greeting so you can feel that this is something new and unique and is different from all other programs you have come across so far.
The ad on their website says that their special offer is valid for today only, but in fact whenever you visit their website you will see the same limited offer for today.
The idea of easy money or making it on autopilot is not new and it looks like Self Made Millionaire System wants us to believe that it’s still possible with their system. Let’s take a look at this amazing program and see what we can expect from it.
The main idea behind Self Made Millionaire System
The idea of this software is to help you become a self made millionaire through trading binary options. They provide you with a software that will do all the hard work for you.
Before investing money they allow you to try their system with virtual money and see how it works.
Many binary trading programs don’t allow it and since SMMS gives us such opportunity it’s really great. Your job will be investing your own money and trading currency pairs trying to predict the currency market.
Pros of Self Made Millionaire System
- You can try SMMS for free
Cons of Self Made Millionaire System
- You need to invest money in order to trade
- SMMS is not different from other binary programs that don’t live up to their promises
- There are many complaints about internet based binary programs
- Trading binary options involves a high level of risk
- No money back guarantee
- Using fake testimonials
- Unrealistic claims and false promises
Inside the program
First of all I want to point out that trading binary options opportunity is not a scam in itself and there are some people that are making money with it.
The question is: why some people are making money while others are losers? Those that are making money have experience in this business, they treat it as their job, they learned how to do it properly. The bottom line is this: They invested time and effort in order to learn how binary trading works.
But the other question is: Does it mean they are making millions? Of course, it’s not about millions and whoever gives you such a promise they are most likely lying to you.
They are making some money, but most binary traders can’t even make $2000/$3000 in order to replace their regular income.
It’s like in any other business: very few people can achieve success and in most cases it happens thanks to their persistence and patience.
The other question is: Are those that are making money through binary trading protected from losing their money? Of course, they are not protected.
In fact, a lot of people are losing thousands of dollars in binary business and I’m talking not only about people with zero experience. Even those that have experience lose lots of money. And this leads us to another question.
Why do they lose money? Because all binary programs explain that trading binary options involves a high level of risk and you should never invest money that you can’t afford to lose.
This warning comes from another binary program called Smart Profits which is by the way much better than Self Made Millionaire System. At least, Smart Profits provides support through a live chat and warns you which makes it different from many other binary craps out there.
So, they lose money because in order to make more money you need to invest more money. There are two trading options when it comes binary programs. They have two types of trades: long term and short term trade. In short term you can’t make a lot of money.
In long term you need to invest a significant amount of money in order to make serious money. The more you invest the better for you. But the most money is lost in long term trades and that’s why many people involved in this business are losers.
I know people that have been involved in this business for several years now and still they are losers. The bottom line is this: This business involves a high level of risk. If you want to try it, go and try. It’s up to you. It’s not my cup of tea.
Warnings from reliable sources
Most internet based binary platforms have been rated as low trust programs and SEC doesn’t recommend to get involved in such programs for a number of good reasons. Take a look at the excerpt from SEC’s website and you be the judge.
A similar warning comes from another reliable source that clearly says that trading binary options is similar to gambling.
The good part of Self Made Millionaire System is that you can try the system with virtual money, $500. My advice, don’t get fooled with this offer. Of course you can try it for yourself, but keep in mind that success with virtual account can be very misleading and this “success” in no way guarantees your success with real money.
Also, keep in mind that once you have invested your money which is $250 in most cases, no one is going to refund your money if you lose them within the system.
SMMS uses fake testimonials on their site which is very bad and ruins their authority. Take a look at the faces of these millionaires. The question is: Are they real millionaires? I don’t think so. The same faces you can see on another binary trading website called Sure Cash App.
No hard work
As I told above, SMMS claims that their software will do all the hard work for you and you don’t need to worry about predicting market because SMMS software will do it with 100% accuracy. Of course this is not true. There is no way to predict it other than based on experience and knowledge and even then you are not protected from mistakes or losses.
A sign up problem
I tried to create my account several times and here is what I’ve got. Does it look like Self Made Millionaire System is a reliable company? I don’t think so.
Fake live results
They show live results on their website that are most likely fake. I have seen the same trick applied at some other scam programs and that’s why I don’t trust this type of data.
No investment required?
And they claim that you don’t need to invest money in order to trade which is not true. Minimum investment is $250 through Regal Options.
Other binary opportunities
I reviewed many other similar binary programs and most of them are either scams or not recommended.
Many binary trading programs try to connect you to unlicensed brokers which is very bad for YOU because it’s you who is going to risk the money.
Final word on Self Made Millionaire System
1. Is Self Made Millionaire System a scam? I don’t think so.
2. Do I recommend it? No, I don’t recommend it.
3. Is this opportunity for everyone? No, it’s not for everyone. This opportunity is a good fit only for those that have free money they can afford to lose.
4. There is a warning from reliable sources
5. There is no money back guarantee
6. The opportunity involves a high level of risk
7. Though all binary trading programs try to make an impression of trusted sites there many complaints about most of them.