Plenitude Formula by George Ackerman claims to make huge profits quick, but can it really live up to the hype? In this detailed Plenitude Formula review, I’ll reveal the inner workings of the software, and why Plenitude Formula scam won’t make you a single cent.
Name: Plenitude Formula
Owner: George Ackerman (fake name)
Price: $250 min. deposit
Legitimate? NO, IT’S A SCAM
(full list of all reviewed scams)
• Plenitude Formula is a binary trading software
• It is affiliated with unregulated brokers to scam victims
• Victims typically lose their deposits within hours
• Fraud evidence can be found in sales materials
Plenitude Formula Review
Can Plenitude Formula really make you a millionaire?
Generating hypes and exaggerated promises are some of the typical hallmarks of an online scam, and Plenitude Formula is a prime example of it.
It exhibits a number of red flags for classic frauds, such as
- Unreal amount of daily profits (between $10,000 to $70,000 daily profits)
- Vague methodology (how does the trading software REALLY works?)
- No work is needed (click-button software that generates profits automatically)
- No payment needed (do you really believe there’s free lunch in this world?)
George has been beating around the bush and generating hypes throughout the sales video.
He did not explain the true nature of his trading software, but instead the video is focused on brainwashing the viewers about becoming an overnight millionaire.
An email from a victim who bought into the scam
Well, unfortunately I’ve had readers who fell for the scam and reported making a loss of almost $250 in just 24 hours. Check around forums such as Warrior Forum and you’ll come across similar stories.
How Does Plenitude Formula Work?
Plenitude Formula is actually a trading software designed to trade binary options on your behalf. If you haven’t heard of it, binary options is an extremely risky trading instrument that works like traditional gambling.
Think of it as a coin-toss game. You choose a side and the trade begins, so you have about 50-50 chance to win a trade. The catch is – you have to risk at least $25 per trade, and the rewards is between $15 to $20.
Talk about balanced risks to rewards ratio.
You need to have a broker account to start trading binary options, so you are actually registering for a trading account when you sign up with Plenitude Formula. These brokers are affiliated with the scammers behind the software.
You are required to deposit at least $250 to activate the software. The software will trade for you automatically, but most of these will be losing trades. The system is designed to favor the broker, where the risks to rewards ratio is heavily skewed against traders.
This is why the vast majority of traders lose all their deposits within 24 hours of activating the software.
These losses are pocketed by the broker, which is then shared with the scammers behind Plenitude Formula software. Here’s a simplified diagram on how the scheme works:
Even though you don’t pay a cent to use the software, the scammers are actually feeding off you in the form of trading deposits.
The Motive Behind Plenitude Formula Scam
It is clear that the scammers behind Plenitude Formula want as many victims to sign up as possible. This is how they make their commissions (in the form of profit sharing with their partnered brokers).
With this in mind, it makes sense for the sales video to generate as much hype as possible. The scammers WANT you to sign up for their scam and fund your trading account.
On the bright side, you don’t have to pay a hefty price of $250 to learn about scams like this. Once you know how it works, you can start looking for red flags within their sales material.
In the next section, I’ll reveal several strong evidence to prove that Plenitude Formula is indeed a scam. Meanwhile, if you are really determined to make money online, you should start learning the proper method and educate yourself on how affiliate marketing works.
There is a learning curve and you’ll have to work for it, but it beats falling for scams over and over again. I’ve been there and it’s not fun at all.
George Ackerman is an Experience Actor
The same actor was featured in another scam
It may not be immediately obvious to the untrained eyes, but the same actor has been featured in another scam called the Cash Camp.
Instead of George Ackerman, he identified himself as Michael Solovsky in the Cash Camp sales video.
Don’t trust an online opportunity just because the founder appears credible and legitimate. Always evaluate the opportunities rationally, based on the criteria below:
- Does the opportunity sound too good to be true?
- Does the opportunity reveal how it actually works? Where does the profit come from?
Pro-tip: Repeating how it will make massive profits for you over and over again doesn’t qualify as explaining how it works
- What is the required time and/or financial investments?
There is no online opportunity that comes free. You are expected to shell out some money for a good product, so make sure you choose the right one.
Actor are Hired to Record Fake Testimonials
Actors are hired from Fiverr to endorse the scam
There are multiple video testimonials that allegedly come from the users of Plenitude Formula software. Each of them claims that the software changed their lives, but how much of it is true?
The actor above was hired from Fiverr.com for as low as $5 for a basic testimonial. Take a look at his gig description:
According to him, a basic 100 words testimonial is sold with a base price of $5. If you want to include more words, it comes at $5 for every 50 additional words.
Of course, you have to provide the script, and he’ll read it like a piece of real testimonial. You can write ANYTHING you want, and he’ll still endorse it for you like it’s real.
I do not condone or condemn the act of buying and selling fake testimonials, but I want my readers to be aware of this – that fake testimonials can be bought online very easily.
Don’t be fooled by these fake endorsements. No one has made real profits with the software, that is why the scammers have to resort to using fake testimonials.
So, What Now?
PLENITUDE FORMULA IS A SCAM. I strongly advise you to stay away from the scam if you don’t want to lose your hard-earned money.
You’ll be better off spending that $250 deposit for a nice dinner with your family than wasting it on a scam like this.
If you want to make money online, there are much better alternatives than trying your luck with binary options:
Have you encountered any online scams before? Personally I’ve fallen for a few before coming across the legitimate one, so let us know in the comments below if you have any personal experience to share!