Inside Magnetic Profits: Yet Another Binary Option Scam
Quick Summary of Magnetic Profits
Rating: 1 out of 5. Utter rubbish, I wish I could give it a big, fat ZERO out of five!
Cons: Everything! Nothing in this system is real, from the narrator to the testimonials to the system itself.
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Some days I am really surprised how a Binary Options system manages to take something completely unrelated and work it into its sales pitch.
If the marketers behind these systems put their energy into something productive and ideally legitimate, perhaps we really could make a better world, even just a small slice of it.
Instead they continue to persecute the unwary and desperate, sucking money from those who need it the most.
Let’s look at the latest bloodsucker in the Binary Options market: Magnetic Profits.
No, everything I have heard and read on the Magnetic Profits site is a lie!
The sales page for Magnetic Profits consists of two parts, a short sales video and a short sales letter.
The letter is nothing to write home about (pardon the pun) it’s really just a scarcity tactic advising you that there are, in theory, limited places available.
Of course, that’s a lie. If there were really only 20 spots available, why would the affiliate behind Magnetic Profits run a competition for their affiliates based on the number of people they get to sign up? For just 20 people it would be easier to stick a post on Facebook.
The video is just as tacky. It uses the metaphor of a magnet that attracts metal to it. Apparently their system, created by multi-millionaire masterminds, is so powerful it will attract money directly into your bank account.
Mike Lee, the narrator, plays on the likelihood that you have been conned by scams like this in the past, and paid out a lot of money for the opportunity as well.
Of course Magnetic Profits isn’t like that, it doesn’t want your credit card – but the broker will…
He slams into other scam systems like MLM schemes and Forex robots, all the while promoting his own scam!
He pushes the fact that he has nothing to sell you and that what he will give you, his system, will be for free.
This is a common way of getting around your objections, and avoiding the fact that you will still need to pay out money. You won’t pay him any money, it’s true, but without depositing money in a Binary Options brokerage you can’t continue on your exciting journey into getting scammed.
I also love the fact that he won’t tell you how the system works, he hooks you into signing up to at least his mailing list (I hope your spam filter is strong!).
The video continues with a blistering attempt to get you to hand over your email, even suggesting you are stupid at one point.
The testimonials that appear after this are obviously from actors, most likely paid a few dollars for their fake testimonial.
Signing up to Magnetic Profits
After allowing my email address to be spammed, I got through to the members area.
As is standard with Binary Options systems like this, there was another form I needed to fill out in order to proceed to the system itself.
The narrator is true to his word, in that the video on this page does contain an explanation of how this system works. It’s just a shame that the explanation is dumbed down and full of BS.
It states that the code in the system magnetically attracts the winning trades and repels the losing trades. Unless the code jumps to the future and sees which win and which lose, the code cannot do what he says.
Seriously? You expect people to believe this?
At best the system will work on a standard “signals” system, popular amongst Binary Options affiliates. These signals are generated from overall trends for the commodity. The problem is that an overall trend does not help you determine whether a trade will go up or down over a two minute period.
The signals system is like looking at the earnings of a business over a year and being able to tell if the shop will earn $1 or $10,000 in the next 120 seconds. You just can’t do it!
The members page also includes some additional “proof” in the form of a list of winning trades that cannot be validated and a bunch of testimonials that have obviously been written by a marketer and use stock photo imagery.
The Bottom Line
Magnetic Profits is using a tenuous link between magnets and money to try and dupe you into signing up with a Binary Options broker.
As with all Binary Options affiliates this system is just feeding you BS after BS doused liberally with lies and falsehoods.
There is zero evidence that this system works and plenty to point to the marketer being unethical.
My advice is to steer clear of Magnetic Profits and keep your cash in your wallet!
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