Well, there isn’t much to say about the Penny Millionaire that isn’t immediately visible. It’s a phishing scam that leads you to believe that all you need is a penny to make a million but in reality it’s just another binary options scam. You WILL have to invest $250 in order to start and you will lose it because they have not shown any proof that you will make even that penny back that they claim is all you need to become a millionaire. More or less, they describe a pyramid scam that in reality is nothing more than trading binary options.
Product Name: Penny Millionaire Scam
Niche: Binary Options Software
Official Website: http://pennymillionaire.com/
The domain of the site has been bought a long time ago and I believe that it has been used to advertise a different scam years ago on the same domain. Today, they are pushing for something new.
The website and the actual promo video provide little to no information as to how this scam really works. They don’t mention anything about investing $250 when in reality that is exactly what will be necessary, and only once do they mention binary options which is what it’s all about. Why? Because people at this point have lost confidence in binary options software due to the numerous scams and tried a different approach.
He basically tells you that in 30 days you will make $10 Million just from compounding a penny with this software. The truth is that this will NOT happen. It’s all great to see it on a calculator, it’s a whole different story to actually make it a reality. It’s one of the oldest scams.
His only proof of such profits being made are this screenshot from before.
Followed by the absolutely identical screenshot of the profits after. Nothing else. The Photoshop adjustment of the balance in the screenshot is the only thing he has to show for this software.
The rest is just empty words. He introduces himself as David Forrster, only, he does not exist. No one matching this identity actually exists because he is actually an actor from Portland, Oregon.
This is actually Dan Kyle, actor from Portland, Oregon. He was actually in several other scams but it wasn’t until this time around that I actually found him.
So, basically, you sign up, hope to be one of the 100 members and then you become a millionaire, is that it? No. They will continue this scam well beyond 100, basically until people realize it’s a scam and stop falling for it. The goal is to get as many people as possible to invest money with their preferred broker so they can get a fat referral fee for each.
Here is the key that proves this is another binary options scam. Until this point, you think you will be giving a penny and making a million, here you are told you will be trading.
Now, though technically this is possible math wise, it certainly is not possible in the way that he explains it. Especially considering that once you invest with the broker they have zero access to your funds. Not to mention the fact that you won’t be making any successful trades. This is why this is completely useless information. No pennies will be set aside and no money will be accumulated as there won’t be any successful trades.
Like I said, the process is logical enough, but if it were true there would be a lot more millionaires out there.
So, the testimonial actors are back. This woman has been in at least 1 other scam video before. Of course, here she looks very different. With the glasses and her hair completely different she is nearly unrecognizable.
This guy is also very familiar but it has been quite a while since he starred in one of these videos and back then I didn’t add images to my reviews. If anyone recognizes him please share. If you look at the three video testimonials you will notice that they are all filmed at the same location. The interior is very similar and all three use a microphone with same video quality. All three are local Portland actors that have managed to go under the radar for quite some time, especially the second two.
Yes, if you double a penny every day for 30 days it does come out to over $10 million, that’s true. The fact that he claims so yet he keeps repeating only a million is interesting. Not to mention the fact that the whole scheme is not explained at all. How exactly does it happen? How does he take that from your account and set it aside? All in all, what is the process and what makes it real?
I think it’s pretty clear that this software is not the best product or any winner of excellence or supreme awards ANYWHERE. A quick search reveals this and shows these are completely unconfirmable and made up rewards. Financial News says nothing about the Penny Millionaire scam.
Same goes for the fake quotes from various individuals from various media outlets. These comments do not exist and were never made. They are all fake.
The written testimonials are all fake as well.
Each is a stolen image from the internet and various websites. Each has pages upon pages of search results and has bene used numerous times in many other websites and scams.
Watch the second Penny Millionaire scam video with controls.Though, you won’t find any useful information there either.
All you have is his word to go by, nothing else. What makes you believe that what he is saying is true considering that he does not exist? What makes you believe that if you continue with this and finally realize that you DO have to invest $250 with his preferred broker, that you will not lose your money? You WILL lose your money. This is why there is no explanation as to how exactly these pennies are doubled because as he said, you have to have a winning trade every day in order for it to happen. I guarantee YOU there won’t be any winning trades.
These are not their new Penny Millionaires, these are stolen images from the internet and plastered on there with fake names and fake profits. Not to mention that considering the claims that in 30 day they’ll become millionaires and that a compounded penny for 30 days is in fact $10 million, their profits are well below that. Oh, wait, notice anything else? Aside from the changed names and images, all else is absolutely IDENTICAL! The trade profit of $57,932 is identical for each of the users, so are the number of days, as well as the compounding profit of $98,923.30. Now, how is that possible? Oh, and this is the first time the deposit is mentioned in very tiny print.
Here is one of the user profiles in a website called Lockerdome made long before this scam software. Yup, not the same guy is it.
The software, the idea, the video, and all the testimonials and claimed proof are all fake. There is nothing real in this scam and nothing worth trusting. Avoid the Penny Millionaire scam if you want to keep your money because regardless what he seems to avoid telling you, you WILL have to invest $250 out of pocket and will miss it.