Product Name: Fast Wealth Club
Product Owner: Mark Vandenburg
Price: $500 deposit
What is it?
An online company promoting binary options and offering an automated system for ‘reliable’ profit.
Some days I get tired of reviewing sites promoting binary options. Like other sites in the field, Fast Wealth Club tries to convince you that you can earn tons of money through an automated system that simply doesn’t perform as claimed. Overall, this is an approach to avoid and can leave you considerably out of pocket.
Before You Buy
Be very careful with companies that promote binary options. To use their proposed method, you end up depositing money with a binary options broker. Typically, it involves considerable work to get that money back out, even if you do actually win anything. Additionally, some companies aren’t reliable about letting you get money out at all.
Make sure you read all of the fine print at the broker very carefully before you make any decisions about depositing money.
What I Liked
There wasn’t anything I liked about this site. It is yet another site trying to mislead users.
What I Didn’t Like
To me, this site makes me concerned right from the beginning. Realistically, fast wealth doesn’t exist – and it certainly takes more than three steps to go from nothing to being a millionaire.
In fact, as I’ll show you, this system does actually cost money, so you wouldn’t be going from $0 to start off with.
This product, like many before it, starts off with a whole lot of hype and promises. In the first video, you can see different people talking about how much they love the product. However, it’s not hard to see that the people are reading off scripts.
Most of the time, the people giving this type of product review/promotion are hired from the site Fivrr or somewhere similar. They are people who never tried the product and probably don’t even know what they are promoting.
In a similar way, you see little popups near the bottom of the site telling you how much money people are making through the product (or so the author claims).
It’s unlikely that these are accurate. Doing something like this is very easy to do with a basic algorithm and there really is no evidence that anybody is earning anything.
The other main piece of hype is the cost.
Throughout the sales pitch for this product, the implication is that you can earn money without having to spend it. That is appealing to pretty much anyone and is also pretty low risk. After all, if it doesn’t cost, you can always try it out and see whether the system lives up to its claims.
Technically speaking, Fast Wealth Club is free – just not in the way that it implies. When you sign up you do join the club, but joining doesn’t really give you anything.
Honestly, that approach bugs me. All of the hype and even the FAQ suggests that the approach is free.
Again, this is technically true, but it's misleading. You can open an account at the broker for free, but you have to actually deposit in that account to make any money at all. In this particular case, you have to deposit $500 into your account before you can do any trading at all.
This means that you have to risk $500 to even have the chance to earn money. That’s a lot to risk in a product where there is no guarantee that you will earn anything at all.
Fast Wealth Club is a binary options product. This is a specific approach for trading options, and one that is risky and can be expensive. Fast Wealth Club gives you the option of trading automatically through their web-based interface, but both approaches really have the same amount of risk.
Despite what Fast Wealth Club claims binary options is not something that you should get involved in unless you know exactly what you are doing. Binary options trading involves trying to predict the way that a pair of options will change and that’s actually very difficult to do.
It’s nice to think that some software would be able to take away the risk of binary options trading, but that’s not really the case. Even with software, it’s simply not possible to reliably predict the trends of a market.
There’s another challenge too. With binary options, the whole approach is to try and predict how the market will change and bet accordingly. If you bet wrong, you lose what you invested, if you are right, you earn a certain amount. In this case, you win 88% of what you invested.
This means that you would have to win somewhere around 60% of the time just to break even. However, the odds of winning with a simple guess, are around 50%.
There have been many pieces of binary options software out there and none of them have actually been successful at predicting market change. If there actually was an effective piece of software out there – binary options trading wouldn’t still exist – because all of the companies would be losing money.
Furthermore, why would someone have gone to all the effort of creating the Fast Wealth Club, if earning money was so guaranteed? Don’t tell me it’s because he’s so generous – because that really doesn’t happen.
Actually Earning Money
My biggest issue with Fast Wealth Club and with this approach to earning money in general is that it is completely unrealistic. There is so much hype going into this idea that you can earn money by binary options , yet the people promoting it just don’t provide any information about how effective it actually is.
A much better approach for earning money is developing your own website. With a website, it is possible to earn money in a predictable manner without the risk that binary options involves. Additionally, you don’t need to put $500 down to earn money.
In fact, it is actually possible to earn money through a website without spending any money at all or by just putting down a little into some good training, a domain name and hosting.
One thing I love about earning money this way is that it is something that you can scale up. With a website, you can continue to add more content and gain more traffic, earning more money in the process.
For many people, earning money through a website has grown from being a bit of money on the side into being their full-time job.
Binary options trading is always risky, particularly for people who are inexperienced in the field. In reality, every product I have ever found in the binary options field is a scam and the few semi-reliable brokers certainly don’t market themselves in this way.
By far, the safest and most reliable method of earning money online is through your own website and the best place to start is with affiliate marketing. This means that you don’t need your own product. In fact, affiliate marketing is something you can start with no previous experience, simply by following online training, like in the community that first taught me to make money online.