Quick Summary of Binary Wealth Builders
Rating: 1 A rating of 1 only because they said it's not a get rich quick scheme. Otherwise I would have given 0.
The Good: No pros whatsoever, it's just another Binary Options affiliate trying to make a quick buck off of you.
The Bad: Betting on binary options is a lot like betting on a coin flip. There's no magical formula or algorithm that can guarantee heads or tails. Scammers are trying to lure you in with false hopes so you make a big deposit into a brokerage account and they take a large commission. Don't fall for it.
The Bottom Line: If you are serious about making money online, then you need proper training, support and guidance, not schemes like Binary Wealth Builders. There's only one support network that I would recommend.
Binary Wealth Builders Review
One form of online marketing that I find a little bit ironic is when a marketer of dubious ethics starts to weigh in and throw virtual punches at other marketers, who also have dubious ethics.
This week’s product review for Binary Wealth Builders focuses on how they use this exact method to convince you to part with your hard earned money.
Before I get to the main video, let’s just take a look at the sales pitch as a whole.
For a Binary Options affiliate the website is fairly minimalist, with just the video and two counters.
The first counter suggests that there are limited spots available, but really this is just an unethical marketing technique to try and make you rush you decision. The reality is that if you refreshed the web page, the counter would restart.
The same thing goes for the money “generated by our members this week”. It is just an arbitrary number that is made to increase by random amounts. It doesn’t link to any data source at all. Once more, it is merely there to help get you in the mood for taking the plunge with this system
The main focus of this sales pitch is of course the ubiquitous sales video.
This 11 minute video is very clever in that the primary focus is to convince you that the creators of the video are not only real, but that they have nothing to do with the “other” marketers out there who simply promote scams to you.
I wish this could be further from the truth.
The video begins with a few voice over actors suggesting how badly they were faring due to scams until, of course, Binary Wealth Builders came into their lives.
Then there is a lengthy section about how Binary Wealth Builders is different from the other systems out there. It talks about how this is not a push button system, how it isn’t a get rich quick scheme, how you won’t become a millionaire in 7 days.
The video tries to reinforce how they are honest and upright and certainly not a scam, by advising that they have obtained all the IP addresses of those other scammers, including the ones that may have sent you the email promoting this product. If someone with one of these IP addresses tries to visit the Binary Wealth Builders website they will not see this video. No, instead they will see something else.
Listening to it, you would be hard pressed not to relent and think that maybe, just maybe, this really is a Binary Options system that isn’t an out and out scam.
Be strong! Fight that temptation!
Even if this were true, it would be very pointless.
This is all just mind games. They don’t have a list of IP addresses and even if they did it doesn’t stop people who want to promote it from visiting the page.
How do I know? I have an account with which if I wanted to I could promote this product, and yet I can still see the video they said I couldn’t see!
The Reality of Binary Wealth Builders
Once it gets past that, the story unfold of how one of their students took just $250 and made money with it (note that it will always be $250 as this is the minimum the Binary Options brokers will take from you).
In the first 30 days, the student converted the $250 to $12,000. After 60 days they had $35,000 and after only 90 days they apparently had $73,000 in their account.
In fact they go as far as stating that this system will earn you a steady $60k a month.
While staying true to the fact that this will not make you an overnight millionaire, it seems to disregard the fact that making that sort of money with Binary Options is unlikely at best.
Binary Options is a very high risk venture, the FTC and even the Binary Wealth Builders own disclaimer states as much. The Binary Options brokers also take a cut of your winnings. Yes, I do mean winnings, because Binary Options is about as skilful or knowledge based as flipping a coin and calling it.
Is this a guarantee? Either way, it’s a lie as Binary Options are too risky to never make a loss.
If you did decide to take Binary Wealth Builders up one their offer, they will sign you up with a broker called Inside Options, and send you to a page where you are warned not to leave without depositing otherwise you will lose your place. Yes, that is just more BS.
Do they have a magical, awe inspiring system that will make you $60,000 a month like they claim?
No, it’s yet another basic binary signals system, most likely provided by the very broker you just signed up to (and here you were thinking it was unbiased right?).
The Bottom Line
Can you make money with Binary Options? Of course you can! Just like you can make money with roulette. There’s no skill involved, there’s no knowledge that you can use to increase your luck. The only thing that happens in Binary Options is the flip of a coin.
If that thrills you, if it excites you, if you have money flowing out of your pants already then sure, go play and waste your money with Binary Options.
If you want or need your own business, your own way to make a solid income then avoid Binary Wealth Builders and Binary Options in general, they’re just not worth it.