The number of fraudulent websites on the Internet that promise to make you filthy rich with binary options robots are growing day by day. Some forex robots, of course, are legit. But have you heard about the China millionaire Scam yet? There are some trading robot websites that appear fake on the surface and most people know that they are scams. However there are other websites that attempt to give explanations about how they are earning so much money and what method they are using which makes their claims seem authentic and therefore have a high tendency of fooling people.
Reviews like this one will clear the fact that websites like China Millionaire are scams. This review goes over point by point and explains what led us to conclude that the website in question isn’t genuine, but only trying to masquerade as a good alternative to going to a verified broker for investing in binary options trading.
########## UPDATE ##########
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First Impressions That Point Towards The Scam
Their website, chinamillionaire.com, starts with a startling announcement – ‘Revealed: The shocking reason why there are more millionaires in China than anywhere else’. The video below spins a yarn that has to be applauded for its creativity, if nothing else. The first five minutes of the video provide no useful information at all. Soon, they begin to ‘explain’ what they call ‘China’s dirty little secret’ which we will be talking about shortly.
Their video just screams “scam marketing”
China Millionaire Scam – The Two Major Giveaway
According to the ‘China’s dirty little secret’, there is a Chinese mathematician who invented a formula to earn money very easily and very fast. The video states that his name is Jin Lee. Now, there are two things that give their game away.
- Where is the mathematician?
One, if you do simple research on a Chinese mathematician called Jin Lee, you will find that no such mathematician with such a magic formula exists. We bet you cannot find him too. If you do, please give us a heads up!
- The Second sign of a scam – the use of a stock image!
Secondly, they use a picture of the so-called mathematician. A simple reverse image search of the picture on Google shows us what we suspected – that the picture has been taken from a website that keeps stock images, under a search for ‘Chinese guy’. Here is page where the image, captioned ‘strange Chinese guy’ can be found (bottom row).
He ain’t no mathematician. He’s just another stock photo!
So basically they just used a random Chinese man’s photo from the Internet, and created this whole story around him. At this point itself the whole story collapses and it is revealed that China Millionaire is indeed a scam.
Other Points of Evidence this Review Unearthed
Scams like these exist because we do not do the proper research needed before buying in the products. Remember the Facebook posts you shared before verifying what a website said was true or not? The makers of China Millionaire know that you would probably do the same even with their software, a reason that they make startling claims and presume that you wouldn’t be smart enough to look through it. However, there are more things that give away the fact that this auto trading robot is a scam.
- The video that promises you the solution
The video goes on to show some video testimonials to convince you that this is indeed a legitimate operation. The voiceover, claiming to be the non-existent Jin Lee, even expresses disgust at other websites who peddle fake schemes to hard-working people. This is quite amusing as this website is one of them, trying to fool honest people who want to try binary options trading and making them believe that some software that is like a forex robot, trader robot or an autotrader robot is going to make them rich. The video then goes on to solemnly announce that they are going to do something that has never been done before. They show the ‘software’ that has made people so rich, presenting it as some sort of genius binary option robot.
- High returns that aren’t likely
Surely, if Mr. Lee is such a big earner he should have past trade transactions? The video goes on to demonstrate that the balance in his account triples itself in just a matter of a few hours. They claims to have an ITM of 98.8%. This is the final nail in the coffin. Such a high ITM is rarely achieved with any robot. If it was really that good, they would just keep it to themselves and make billions of dollars a month! Therefore although China Millionaire scam is not like your run of the mill forex robot, trader robot or autotrader robot, yet by some simple research done for this review, we discovered that their carefully concocted story is indeed a scam.
- Too many positive reviews
If you try to do a simple Google search for Chinese Millionaire, as most people do before trying out any new website, you will see something that you see with every fake website – that there are multiple positive reviews, and not even a single negative one. All of such scam websites adopt this method by posting glowing reviews of themselves in order to convince people. However, this Chinese Millionaire review has hopefully demonstrated to you that it is indeed a carefully planned scam and nothing else.
China Millionaire is a forex robot scam. From a legit binary trading website, you do not get the name of a fake mathematician coming up with the stock image of a random Chinese guy. You would have to be dumb to not see through it. Additionally, legit forex robot sites do not make such unrealistic claims or a magic formal that can give you all the green paper that you wanted. Instead, it teaches you on how to become good at forex trading, so that you can concentrate on making more profits through a learned approach. The fact that you’re only seeing positive reviews of the website is another indicator that you might be walking into something that you would be sorry for later on.
We have reviewed some good robots in the past. Check out Virtnext and Dow Jones Focus Group. Many of our own staff use these two. And always remember to visit our main pages for our updated list of broker bonuses as well!