The Millionaire Bot found at themillionairebotsystem.co promises you a 100% free system that makes $13,425 every single day on autopilot. Sounds too good to be true? Indeed, The Millionaire Bot is just another binary trading software scam. Read The Millionaire Bot review for more details.

the millionaire bot scamName: The Millionaire Bot
Website: themillionairebotsystem.co
Owner: Unknown
Price: $250 min. deposit

Recommended? Not Recommended

The Millionaire Bot Review

 

the millionaire bot scam

There’s no such thing as free money. Let alone on autopilot.

The Millionaire Bot scam (yes, it is a scam) found at themillionairebotsystem.co makes a bold promise right off the bat, claiming that they can help you make $13,425 every single day on autopilot.

The sales video features several “users” of The Millionaire Bot, and all of them claim that they have earned a ton of money using the bot. However, none of these testimonials is true.

These people are just actors and actresses paid to read a script like a real testimonial, and their services can be found on Fiverr.com. It’s called buying a testimonial. Take a look at the Fiverr profile below and compare the actors to the ones in The Millionaire Bot scam video.

the millionaire bot scam

Fake testimonials can be bought on Fiverr.com

A fake testimonial can generally be bought on Fiverr.com for just $5. I do not condone or condemn the act of buying and selling fake testimonials, but I want you to be aware of this – that fake testimonials can easily be bought online.

Don’t believe everything that the sales video pitch on you. Stay vigilant and don’t be fooled, as The Millionaire Bot is just another binary trading software scam.

What is Binary Trading?

 

Before we proceed with the review, I want to explain how binary trading works to make sure everyone is on the same page. If you have experience trading binary options, you may skip this section.

Binary trading is gaining momentum in recent years due to its simplicity. Instead of reading financial news and analyzing charts like other investments, you only need to guess if the price of an asset will rise or fall after a short period of time, usually between 30 seconds to minutes.

There can only be 2 outcomes – either you are right, or you are wrong (there is no middle ground, hence the name binary options).

This is how it works – let’s say I feel that the price of gold market will rise 5 minutes from now, and I bet $50 on a 5-minute contract. If I’m right, I win a certain percentage of what I bet, usually between 60% to 80% ($30 to $40). But if I’m wrong, I lose the entire $50 that I bet.

You should realize by now that trading binary options is not that different from the usual gambling. There’s no way to know the market’s movement in such a short period of time. How do you predict the outcome of a coin toss? You either depend on pure luck, or your gut feelings.

Predicting the outcome of binary options is the same. Even if you manage a 50% win rate, you will still lose money due to the uneven winning vs losing payout of binary options. The difference of payout is how the brokers make big money off the traders.

We do not recommend binary options if you want to generate serious income from the internet. It’s one of the worst possible ways to make money online. There are simply better alternatives out there that are much more promising than trying to gamble your way to wealth.

More Red Flags in The Millionaire Bot

 

the millionaire bot scam

You only have 2 minutes to create an account

Back to The Millionaire Bot scam.

Upon entering your first name and your email address in the homepage, you will be redirected to a second sales video with a countdown timer on it. You will only have 2 minutes to create an account using the form on their sales page.

Why the rush?

There’s actually no real reason to rush you through, other than to create an illusion of limited time offer. People generally like limited time offer, and by placing a countdown timer, it will force a few more impulse sign-ups.

If you refresh the webpage, you’ll realize that the timer refreshes itself. It’s just a computer script that is set to 2 minutes every time you load the webpage.

This is a widely used tactic in online scams, and the same tactic has been used in other binary trading scams such as Free Money System and Online Wealth Markets.

the millionaire bot scam

Annoying popup in The Millionaire Bot page

As if using a fake timer isn’t enough, The Millionaire Bot scam is incorporating an annoying popup every time your mouse cursor moves towards the exit button of your browser.

If The Millionaire Bot is a legitimate system, it doesn’t have to resort to such tactic to retain its potential buyers. It’s the scams that use exaggerated hypes and wild promises to catch the attention of potential victims.

By now, it’s very clear that the scammers behind The Millionaire Bot really want you to sign up for their “free system”. But what for?

How The Millionaire Bot Scam Makes Money Off You

 

the millionaire bot scam

I was assigned to BinaryBook, one of The Millionaire Bot’s affiliated brokers

If you decide to sign up for The Millionaire Bot system and open a binary trading account through their sales page (which is an affiliate link), the team behind The Millionaire Bot scam will earn a sum of referral fees as soon as you make your first deposit. You need to make a minimum $250 deposit with BinaryBook before you can start trading, or use The Millionaire Bot software.

You can’t use their software even if you already have an account with their affiliate binary brokers. You need to register for a brand new broker account, because the scammers behind The Millionaire Bot cannot earn their referral fees if you don’t create an account through their affiliate link.

Not only that, The Millionaire Bot makes money off you over the long term.

The team behind the The Millionaire Bot scam will earn a commission for every trade that their software makes for you, which means they will profit regardless of whether you make or lose money, all by RISKING YOUR ACCOUNT.

Is The Millionaire Bot a Scam?

 

YES, IT IS A SCAM. As we’ve said in the review earlier, we don’t recommend binary options trading as a way to make money online, at all. It’s basically the same as gambling, and using an automated trading software doesn’t make a difference. You are essentially putting your hopes and entire investment in a piece of software that gambles on your behalf.

You are more likely to end up losing all your money than making any significant profit. If you have some cash to spare for entertainment, you may go ahead and try it out. But you’ll be better off spending it on a nice dinner with your loved ones.

If you are determined to make money online, you must use a legitimate program that will provide you proper trainings and help you build your own business. We have tried out many programs, and there is only one program we recommend to our readers:

Read Our Review of the Most Recommended Internet Business Opportunity Here.

 

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!