The Private Wealth App is another “automated trading software” that will make you millions. Only it won’t. This review is going to show you exactly what it is, how it works, and how it doesn’t work for you. Just the owner and his affiliates.
Every binary options trading product I’ve reviewed has had a unique twist to it, a different story to sell you on the program. While most of them focus on the money earned, screenshots and fast-cars, Private Wealth App only really focuses on the back-story. “Connor Murphy” (AKA the Irish John Smith) tells you that he worked for the government for secret organizations (not spy stuff apparently) on coding and making money.
He understands all the secret ways banks and governments handle money and exactly what they do with it, and better yet, he understands exactly how to make money (cue a few faked screenshots of bank accounts in his name).
Same Story Different Name?
This is different from the usual program and yet it’s also the same. It doesn’t actually mention trading or automated software, it just says that he has some top secret skills, and that governments make money in some secret way. I guess this is just another way to play on most people’s ignorance of how money is made, and how trading works. It’s the same as all the other stuff because it sells you on “secrets” “software” and “limited access”.
The familiar “this video could be taken down at any moment!” line makes an early appearance. There’s also the “you are only here because you’ve been invited and someone has vouched for you” line that I’ve seen a lot recently, as well as the old classic “only 100 people will be allowed in.”
Of course, if you check back in two months, the video will still be there.
What exactly is it that Connor has created?
It’s an app that will make money for you automatically. He doesn’t go into how much it’s going to make you, or how it works. All you need to know is it’s free, there’s limited access, and you should act fast. Also it’s free.
Of course it’s not REALLY free, but we’ll get to that later.
Connor’s unique angle is that he is looking for beta testers for his app before he releases it to the public. It will cost $1,000 per license when it goes live, but in exchange for beta testing and giving him your testimonial and success story, you get free access, and you get to keep all your profits.
Most of these binary options programs mention beta, but Connor really hammers this point home. It’s a great angle, because he doesn’t have to bother making fake testimonials for it yet, YOU are going to be the testimonials theoretically.
As sales pitches go, it’s not a bad one and I can imagine a lot of people falling for it.
It’s also got this whole “we are going to be working together” angle that works well. Overall, it’s a well-made video and I couldn’t pick too many holes in it. Of course, I still found a few :)
Issues With The Video
I hate it when people say “I’ll only keep this up for a short time” and all that other stuff. If you’re looking for 100 beta testers, just take it down when you get them, you don’t need to make us act fast and tell us how super lucky we are.
I also found it strange that this video has clearly been pre-recorded, yet at the end he says “Since I put this up, there has already been huge demand and there aren’t many places left”. Did he record it again with that update or did he just know in advance?
Or maybe he just lied?
What Happens Next
If you do sign-up (and who wouldn’t? It’s free and it’s going to make us money after all!) you’ll get taken to a new page where you’ll fill in your email address, phone number and name etc. The address of this website is www.onlinemembers.net/pwa. Now, if that doesn’t look like a standard 3rd-party “members only” server, that provides services not only to pwa, but all the other products out there, I don’t know what it is.
For someone who has used his expert coding skills and made a unique app and system, why use a 3rd-party “members only” area? I mean, apart from the obvious reasons that he is following the same formula as all the other questionable products out there.
Filling out the form and hitting submit redirects you to the “app”. Yeah, it’s not an actual app, its a binary options trading platform run in your web browser. You don’t really get to see much about the platform, you don’t get told what to do or how it works. You just get a prompt to add funds to your account. The minimum amount is, as always, $250 USD.
Wait, What Happened Here?
You’ve signed yourself up for a binary options account and will receive a prompt to add funds to your account. Connor will also send you an email explaining that in order to beta test his app, you need to add funds and then you’ll get a download link.
The app only works for accounts with money in. Why is $250 USD the minimum? Why can’t you learn more about it before you test it? Why wasn’t any of this mentioned before you signed up? Because it’s all the same old crap.
How Binary Options Platforms Work
If you did sign up for one and add funds to your account, a number of different things would happen, depending on which person tricked you and which platform you signed up for.
Some of them just take your money, nothing happens, and you never hear from them again. Others will just “lose” your money.
Binary Options are totally random, and you have a 50% chance of winning (in theory). This platform will make trades for you automatically, and some will win, and some will lose. The thing is, the winners only pay out 50%, and the losers lose you 100% of the stake. When everything averages out, you still lose.
It’s Nothing Unique
All of these products are essentially the same, you’re sold on an automated program, then signed up to a binary options trading platform. These things are very much unregulated. In some cases the product creator has made their own binary options platform and therefore when you are adding funds to your account, you’re just handing it over to them. In other cases, the product owner is just receiving a commission for having you sign up.
It’s unclear whether Connor is receiving a commission or whether he’s the actual owner of this particular platform, but one thing is clear, he’s cleaning up.
How Do I Know?
Private Wealth App is another product available on ClickSure. You can affiliate with the product and receive a commission when someone joins PWA and adds funds. I could very much write this Private Wealth App review saying that it’s the best thing since sliced bread, give you my affiliate link, and make some money. Luckily for you I’m honest.
According to the PWA joint-venture page, the average payout is over $200. Makes sense, the minimum deposit is $250 USD remember. He gives them a share and pockets the rest.
Not really free though is it?
There’s a great article at Investor.gov (A U.S government website) that explains why there is so much fraud and abuse in Binary Options products these days. I’ll give you the highlights below, or you can read the full article here.
And the best part:
The Bottom Line
As you can see the U.S government is well aware of products like this, and offers a stern warning to stay away. I couldn’t agree more.
How Does The Private Wealth App Compare?
Binary Options trading programs all come down to essentially one thing: You’re betting your hard earned money on a coin flip. Successful businesses are not built this way! You can’t expect to make money this way.
I’ve Tried That has been reviewing ways to make money from home since 2007. In that time, there’s one program that stands above the rest. It’s free to get started, has no ridiculous hidden charges, and will help you build a sustainable income from home.
Let’s see how the Private Wealth App compares…