The poor attempt at stealing your money known as The Profit Journal is obviously a budget attempt at the latest binary options scams. Not only is the narrator clearly not the owner or creator of the product, he is a pretty poor voice actor.
The story was typical of binary options apps, telling a heart-wrenching account of rags to riches. Our poor “professor William” was a school teacher who wanted nothing more than financial freedom…just like you!
And even though Willy can now afford a Rolls Royce AND a Prius (just for kicks), he can't afford video hosting because he's got his main sales video hosted on YouTube (for free).
All Talk, No Real Proof
Actual proof of software that works is not done by showing pictures of what you own. Anyone can grab an image from Google images and lie to you.
But this is exactly what The Profit Journal tries to do.
One of the best ways to tell a scam is if you have to pay for something before you understand what it is. Anything that requires payment to “learn the secret”, is not a secret at all.
Secret fat burning foods? Scam. Secret work out techniques? Scam. Secret money making technology? Scam.
Tell me how it works and what my $100 is buying first.
If some guy knocked on your door today and said, hey, I'm a millionaire and out of the goodness of my heart I want to give you a suitcase full of money, would you take it? Probably not.
So why are you still listening to this guy?
About Binary Options
So if the red flags surrounding this product hasn't convinced you that it's not worth your money, let's look at what it actually does.
It's supposed to be an “app” that guarantees a certain amount of successful trades. In fact, in the sales video the presenter says that it makes 75% to 85% profit.
This is not true.
75%-85% is the profit on each successful trade. If you trade $100 and win, you get only $75-$85. If you lose, you lose $100. This is how the binary trading platforms make money. Good ‘ol William makes money each time someone funds a new account.
Why do you think he won't give you the software til you confirm that there's money in there?
Not Available in The US?
When I went to sign up the first time, I was taken to Market Options. It got some good reviews as a trading platform, but I did not dig deep to find if the reviews were legit. Many websites write positive reviews of ALL brokers in an attempt to receive commissions from referrals.
But when I received the welcome email from The Profit Journal and click the link to set up my account, I was taken to a completely different site! And the bad news is that it was unavailable in the US.
I did some research and found that many trading sites like this are not available in the US because of the similarity to gambling, the large number of scams associated with the, and the lack of regulation by the SEC. In fact, you can clearly read from the image above that they are not available in the US BECAUSE they refuse to register with the SEC.
The Profit Journal was a low-budget attempt to sell scam software. Double Whammy!
So What Now?
I hope you decided that an unregulated, high-risk, free software from a mystery man with a dubious background was not worth your $100.
Great. But can you actually earn money online?
First you need to realize that whatever method you choose to make money online, you are going to have to learn, and it's going to cost you some money. There's no free, and there's no easy in the world of internet income.
I make money through affiliate marketing. Though not free or easy, it's less expensive and has a much cheaper learning curve (making mistakes has $0 consequences unlike trading stocks where you can lose your initial investment). You can learn how I do affiliate marketing by taking my free 5 day email course for beginners.
Questions or comments about The Profit Journal, binary options, affiliate marketing, or me? Let me know below!