Product Name: Smart Money Makers 2
Product Owner: Not specified
Upsells: Must invest around $200 in binary trading
What is It?
A piece of software designed to enhance binary options trading.
What to Expect
Smart Money Makers 2 is promoted as a free piece of software, but really, the product involves investment in binary options trading. This is a highly risky way of making money and is nowhere near as guaranteed as the website owner makes out.
To actually use the software it is necessary to invest around $200 into the options site, and the product owner provides no training or advice about how to use binary options or what the risks are.
This is a product to avoid, and most people will lose money rather than make it.
What I Liked
I didn’t like anything. The site was incredibly misleading, and I hate binary options trading, it is simply another way to take advantage of people trying to figure out how to make money.
What I Didn’t Like
Making money for free sounds wonderful. For anyone stuck in a mundane job, it sounds simply too good to be true. In the case of Smart Money Makers 2, what you actually get is nowhere near as good as it sounds.
Smart Money Makers 2 is not the free money product that it claims to be. The legal disclaimer sheds some light on the product and what actually is being asked of users.
This disclaimer makes it clear that the approach is risky, and there is a chance that the user might lose all or some of their initial investment.
Wait, investment? I thought this product was meant to be free?
Like most products of this type, the product itself is free, but you have to invest to use it. In reality, Smart Money Makers 2 is a piece of software designed to take advantage of a specific approach to trading stock.
So, how much do you invest?
For most sites like this, the minimum deposit is around $200 or $250. This is a lot to invest when the product owner has told you almost nothing about what you are investing in.
Investing in any product without knowing what you are paying for is a very bad idea. This is particularly true for binary options, which are risky to start off with. In reality, if you really want to invest money, going with a highly hyped and persuasive site isn’t a good way to start at all.
Binary Options – Again
I’ve seen far too many products that claim binary options are an effective way to make money online. Often, like Smart Money Makers 2, these products are targeted at people wanting to get started making money online, particularly those who are desperate.
After all, what better target than a person who is grasping at straws, trying to figure out a way of making money in this modern economy?
There are a lot of different ways of making money online that sites promote, and personally, I think binary options is one of the worst. Binary options differ from other types of stock trading because there are only two possible outcomes.
This can make binary options a bit easier to understand than traditional stock trading, although it also makes the process more risky. When using binary options, traders must choose whether a particular stock will go up or down.
The process is all or nothing.
This means that if you win, the payout is substantial, but if you lose, then you normally lose your entire bid. In the example above, winning would turn $25 into $44.25, but losing would mean that you end up with nothing.
Unless you know the markets you are bidding in very well, the choice is much like gambling, where you end up with a 50% chance of winning or losing. If you know the markets better you can improve your odds, but it is still challenging to actually make a profit.
Additionally, because the payout percentage is somewhere between 70% and 80% for the majority of trades, you have to win considerably more than half of your trades to actually make any money.
Realistically, the odds of doing this are low, and it’s easy to lose a considerable amount of money using binary options.
The similarities between using binary options and gambling can also be challenging for some people, as it can potential make the process addictive.
Smart Money Makers 2 offers free software that is designed to make binary options less risky and more guaranteed. It isn’t the first company to try this approach, and won’t be the last.
At best, using software to help with binary options may slightly improve your chances, but is just as likely to increase your risk. The very nature of binary options makes it essentially impossible to develop software that guarantees profit.
This means that if you are using binary options through Smart Money Makers 2, then your level of risk isn’t really any different than someone using the trading without any software.
Realistically, binary options are not something you should enter into unless you know the field and have the financial backing to withstand losing your entire investment.
It is not a get quick rich approach and honestly it is not something anyone should try if they are stuck for money. It will just make matters much worse than they already are.
Binary options are growing in popularity, mainly because they look much better than they actually are. I have reviewed other products that focus on binary options, and honestly Smart Money Makers 2 is probably the most misleading. The presenter in the video makes a big deal out of the fact that the product is free.
But is it really?
In the video, he mentions time and time again that users never have to spend anything. He also gives absolutely no indication of how you make money through is program. Does this sound suspicious yet? It should.
If something sounds too good to be true, it probably is.
This is definitely the case here.
In fact, it isn’t until you get to the get past the video and start the sign up process that you even find out what the site is about. Even once you get to the part of the site where the product owner is telling you that you are dealing with binary options, there is no indication of the risk that is involved in the process.
The only indication that your income isn’t guaranteed is the disclaimer statement at the bottom, and I suspect that is only there because it is required by law. Speaking of manipulative…
Did you notice the constant push to hurry and buy throughout the sales pitch? The author claims that the offer is only open to 99 individuals.
Does this seem likely to you?
I mean, he made it clear that he makes profit from everyone who makes money through his system, so surely he would want as many people to use the product as possible.
In fact, there is even a little counter at the top of the page telling you just how many people are using the product within your location.
As well as an indication of how many people are waiting in queue to watch the video
Honestly, this doesn’t seem at all likely, particularly the part about almost 3,000 people in queue. In reality, the queue part is completely static; it will remain the same no matter what. Clearly this isn’t an indication of real people waiting for the video.
The number of members using the application does change, but it’s not real. Actually, it looks like a simple program that counts up over time. How do I know?
Well, if you open the site in a different browser, the count starts at the same place that it originally did. If you leave the site open for a while, you will notice that the counter gets much higher.
This from a program that was supposed to be restricted to 99 people. The site uses the same kind of approach when it comes to creating your application, this time giving users ten minutes to complete it.
So, what happens if the ten minutes runs out? Absolutely nothing.
You can sign up just as easily once the counter has expired as you could beforehand. Finally, Smart Money Makers 2 tries to convince you that the program belongs to a single person who has made a lot of money online.
But, other parts of the product ruin this image.
It’s really not clear whether you’re dealing with a single person or a company, and this alone should be a giant red flag.
Honestly, the author (or authors) of this product spend so long tricking and persuading people into signing up, that I have zero faith in their integrity or in the integrity of the product. If you do plan on using binary options, make sure you research the process carefully as well as the companies involved.
Who Is This Product For?
The only people that this product will help is people who are already trading binary stocks through the particular company that the product owner promotes (GT Options), or plan to use this company.
For people in this situation, the software may give some additional insights, but it may also increase the risk, so use with care. For anyone else, binary options are a very risky choice, and they do not guarantee a positive outcome.
When it comes to making money online, there are a lot of options, some of them good, some of them bad.
I don’t claim to know what will work best for everyone, but I do know that Smart Money Makers 2 promotes binary options as a safe and guaranteed way to make money online, when that is far from the truth.
In reality, if you want to make money online, the safest and most effective approaches are those that take time and effort to set up and follow legitimate training. There are many ways to make money online that don’t involve the substantial level of risk associated with binary options, and can be used as a long-term way of making money.
Wealthy Affiliate teaches affiliate marketing, and it's what I do to earn income online. Read my Wealthy Affiliate review to see why they are so awesome.