Wouldn’t we all love to join a millionaires club? Especially one with a snazzy name like 2015 Millionaires’ Club? Of course, that kind of implies we have to be millionaires first – and the site claims outright that you really can do just that.
There are all kinds of problems with this site, including some pretty common ones. For examples, there are two countdowns running. One counts how many membership spots available, the other counts how long until your access link expires.
Yet, if you sit and wait for those counters to reach zero, you can still sign up for the site without a hitch. So, the countdowns are really just there to make you hurry along. When you do get through the first sign up part, you are faced with a different counter, this one counting up.
This is a form of social proof. If people think that others are interested in the product they are much more likely to actually go ahead with it. Like the other counters, this one is fake too. You can refresh the page and the counter will start back at its initial value, somewhere around 24.
Here’s the kicker. You have to enter your email address two different times and provide your phone number, before you even get the chance to find out what the site is promoting. That is an incredibly suspicious approach.
Binary Options – Yet Again
Sites like this one wear me down because they are all little variations on the same exact approach. Simply put, the site is promoting something called binary options trading. You may have heard of this before or you may not have.
Basically, binary options involves trading based on estimations of the performance of assets over time. The idea is to try and predict how the asset is going to move and then either ‘call’ or ‘put’ based on what you think will occur. If you are right, you win money, if you are wrong, then you lose it.
This sounds a bit like gambling, largely because it is.
With binary options, you are looking at actual assets and markets, so theoretically you could use knowledge of the markets to make more accurate predictions. This can be difficult to do because of how rapidly the markets change. Additionally, sites like 2015 Millionaires’ Club aren’t trying to recruit people who can read markets. They are trying to recruit naïve people who are just going to believe what they are told.
Roughly speaking, the odds of winning a given trade are 50%. To break even, you have to win closer to 60% of your trades (because the broker takes its cut) and to actually make money, you have to win even more than that.
So, it’s a risk – and a pretty big one. You also won’t have a win ratio anywhere like what the site promotes:
To make matters worse, you have to provide a deposit upfront to even try out the trading. This tends to be in the realm of $250. A lot of people get into binary options because they think they can just get that money back out if the product doesn’t live up to its claim.
It isn’t that simple. Binary options brokers make it very difficult to get any money out. Often, you have to make a certain number of trades to even be eligible to make a withdrawal. That also means that you probably won’t get back anywhere near what you put in.
Too Good To Be True
The problem with things that sound too good to be true is that they pretty much always are. Take earning money online for an example. Lots of sites claim that you can do just that (and you can), but many also promote a specific system or trick that lets you do it quickly with minimal effort.
Binary options is just one example of this approach, but there are many others out there. As nice as it sounds, it really isn’t possible to become a millionaire or even just rich overnight (except for a very few rare exceptions). Yet, sites like this imply just that.
If you actually want to make money online, the only legitimate path is the slow path. This might take more time and more effort, but in the long run it really does pay off. In my email course I talk about one specific strategy that can be used to make money reliably and effectively that has long-term potential.