We came across a get-rich-quick program called The Millionaire in PJs recently, and we were not impressed. In this Millionaire in PJs review, we will walk you through the system and show you why you shouldn’t sign up for it.
Name: The Millionaire in PJs
Owner: David Williams
Price: $200 min. deposit
Legitimate? NO, IT’S A SCAM
The Millionaire in PJs Review
What is The Millionaire in PJs all about? It’s basically a scam to get you signed up with their designated broker, and lose your money away through an automated binary trading system called EZTradingBOT.
The Millionaire in PJs claims that trading is easy, all you need is the right tool. And the right tool happens to be an automated binary trading system.
The next time you come across an automated binary trading system, please stay away as far as possible and do not commit your hard earned money into the system.
There are simply much better way to earn decent money online without taking on massive risks and gambling your capital away, such as starting a real online business, which makes online income much more predictable and rewarding.
How Does Binary Options Work?
Anyway, before we continue the review, we have to explain how binary options work, and why you are better off investing your money somewhere else than to throw them away through automated binary trading.
Binary options is trading in one of their simplest form, where it can only have one of two outcomes, hence the name binary options. There is no middle ground, so you can either be right, or you are wrong.
You select an asset and you predict if the asset will go up or down in price in a short amount of time, usually within 1 to 5 minutes. If you predict (guess) it correctly, you win a certain percentage of the money you risk. If you predict incorrectly, you lose what you bet, entirely!
For example, I have $200 in my account and I choose to risk $100 in a trade. Before I commit, I know that I will gain 75%, or $75 if I predict correctly. But if I don’t, I lose the $100 I’m betting on.
So if I win, I grow my account from $200 to $275. If I lose, my account goes from $200 to $100. Did you see what happened there? It’s not exactly a balanced trade-off, i.e. winning $75 vs losing $100.
Now that’s not a problem if you know what you are doing. If you are a seasoned binary options trader, you may have more than 50% win rate and turn the odds in your favor.
Binary options trading in itself is not a scam, but it’s simply gambling for a lot of people.
The Millionaire In PJs Automated Binary Options Robot
The problem comes when there are robots that claim that they can do the job for you, and you just have to sit back and relax while the cash comes pouring in.
The Millionaire in PJs is one of them, in which it gets you to sign up with their selected broker, and use an automated trading robot called EZTradingBOT to do the trading for you.
If you sign up with The Millionaire in PJs, you will be redirected to their selected broker’s website, where you are required to make a min. of $200 deposit before you are allowed to use their EZTradingBOT to automate the trading process.
In the sign up process, you are shown a video that gives you a lot of false promises, including how EZTradingBOT will be able to help you make tens of thousand of dollars in a single day, and you just have to relax and watch your profits grow.
Never at one point did the video mentioned about the risks of losing your money and how risky binary options trading actually is. All it does is to ask you to fund your account (and borrow it from someone if you have to, seriously?), and you’ll see your profits rolling in.
It’s almost like a cult trying to brainwash you. I’m not even kidding.
If you want to watch the video (it’s less than 3 minutes), you can watch it on youtube here. Notice how it keeps emphasizing on depositing your money into the account, because that’s how they are gonna earn your money.
Does Automated Binary Trading Work?
Now that we have made it clear that The Millionaire in PJs is out to get your money, is there a chance that these automated trading robots might actually work? Like, if it works, it’s not a scam anymore, right?
Unfortunately no. You see, binary options, like other trading methods, is a zero-sum game. That means, if you are winning a trade, there must be someone losing on the other side to balance the sum.
Taking into account all the professionals who trade binary options manually for a living, do you think an automated robot can help you beat the market and make you a millionaire?
It will be impressive if the robot even wins 50% of the trades for you. However, winning 50% of the time will not be good enough because you will still be losing. Remember how binary options work? The odds are simply not in your favor.
Even the creator of the automated trading robot knows it. In EZTradingBOT website, if you look at it very closely under the website’s earning disclaimers, you will notice this sentence:
“Gambling, in its very nature, holds a high risk of losing money. Any information we provide regarding gambling should be treated as such. With this in mind, if following these methods may cause you financial hardship we do not recommend proceeding with the method outlined in this website.”
But I thought you just asked me to borrow from my buddy or my family members if I have to? Why didn’t you tell me this earlier? I thought I was promised great riches simply by funding my account and using the system!
Should I Buy The Millionaire In PJs?
The answer is clear. The final verdict is NO, THIS IS A SCAM!
Most people fall prey to scams simply because they don’t know there are better alternatives out there.
If you want to make money online, it’s always better to start your own business than relying on methods such as binary options. It’s way more predictable and satisfying because it depends on your effort and skills, instead of pure luck which doesn’t get you anywhere.
However, if you want to start business 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:
Have you encountered any 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!