Being in the “1% club” is a thing of dreams. Wouldn’t it be great to earn THAT much money? The dream of being so rich that you can earn money while playing golf at the country club, or sailing on your luxury yacht, or basically..living the good life.
This is exactly the dream that “The 1% Club” and its spokesperson “James” is selling. It’s the usual “This could be you” technique that all these products use. They all have equally enticing names as well, things like “Wealthy Trader”, “Millionaire Club”, or “Secret-push-button-my-monkey’s-grandma-could-do-it-so-can-you-for-free-but-don’t-tell-anyone-mega-product”. OK I made the last one up, but I wouldn’t be surprised to stumble across it one day.
Also like the others, The 1% Club is full of lies, misrepresentation, scummy sales techniques, and deceit. I could probably throw a few more negative words into it as well. I’m going to make this perhaps the ONLY 1% Club review that doesn’t just tell you how amazing it is in order to try and make a commission from signing you up. That’s what these launches are all about, commissions for getting you to join.
What Is The 1% Club In A Nutshell?
What it is and what is claims to be are slightly different things. I’ll address the claims first.
What We’re Told It Is
It’s supposed to be an automated software that makes winning binary options trades for you again and again. It will make the occasional loss, but you’ll be earning thousands in net profit. Around $21,000 a week apparently.
Because he’s such a nice chap, “James” is giving you this software for free. I guess the 1% is going to become the 2% now then!
You don’t get bored with details about what binary options are or how exactly money is made. It’s nice and refreshing to not be bored with details. All we get told is that it works, it’s not the same as all the other crap (way to associate yourself with scams James!), and it’s free.
What It Really Is
All of these binary options products are in fact, the same. They all work like this:
1.) Convince you that it will work, and tell you to get started for free.
2.) On the next page, tell you to join the broker of choice (more on the broker below) and make a $250 deposit.
3.) You sign up, and deposit $250 (hopefully you don’t though).
4.) You proceed to lose that $250 because you know nothing about trading, and binary options are essentially roulette.
5.) The product creator earns a $250 commission for having you sign up with the broker.
6.) The affiliate who sent you to the product creator gets about a $200 share of that.
7.) You feel bad.
It’s always a different trading platform/broker that you’re signed up to. The product creator will always say “These are the guys I trust the most” or “My software (what software exactly??) only works with these guys” or “I’ve had consistent success with them over the last few months/years/decades/centuries”.
You will likely never have heard of the broker before, they will be unregulated, and will also likely have only been around for a short time. Good luck trying to get your money back.
In the case of The 1% Club, the broker of choice is called Options Area.
- These guys are incredibly new as of July 2014, being around less than a few weeks.
- They’re owned by a company based in the Seychelles (no surprise there).
- They’re not regulated by a binary options regulator such as CySEC. Of course they aren’t.
Thinking Of Just Trying It Out?
$250 is no small amount of money, but maybe you are thinking you will try it out for a few trades and see how it pans out. You can always get your money out again right? Well, no.
Yes these platforms have a withdrawal option, but in order to withdraw your money you will need to make a certain number of trades. By the time you’ve made those trades, your money will be gone.
The support they offer which is “24 hours” is always offline and will not respond to messages. It’s essentially an empty shell.
Can You Actually Win Money?
In theory yes, but let’s look at the maths. Winning trades only pay out a certain percentage, and losing trades lose a much bigger percentage. If you made 10 trades, 7 or 8 would have to be winners for you to break even. This is hardly $21,000 a week like we were promised.
To me, gambling with a high likelihood of failure and being promised millions are not the same thing.
But What About The Income Proof?
Yes indeed, what about it? We were told it was a “live stream direct to this video”, but every time I returned, it was the same static image. I took a screenshot with the date for you. Does it look exactly the same as yours?…but wait, I thought it was a live account?
We were also shown that there were limited places available, but every time I returned the countdown was in the same position.
In fact, why don’t you have a look now. Here’s a screenshot of the place the video is in when there are 6 places left. Go and compare mine with yours, if it’s not the same, I’ll eat a pizza.
All these screenshots and countdowns are used to fake legitimacy and instill a sense of urgency in us. We better sign up quickly! We better deposit the money and start earning these figures!
Stick a pin in that bubble of yours, it’s not going to happen.
Automated software for trading doesn’t exist, and if it did, would it be given away for FREE? Come on!
How Does The 1% Club 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 1% Club compares…