Is Armchair Millionaire a Scam?

Summary

Armchair Millionaire is recognized for pledging very high and fast returns to traders. However, does this Binary Option Robot hold its reputation for its promised performance?

Armchair Millionaire is recognized for pledging very high and fast returns to traders. However, does this Binary Option Robot hold its reputation for its promised performance? Currently, we are not able to deem Armchair Millionaire as a safe Binary Robot. If you’re looking for more reliable alternatives, you might want to check our list of recommended trading robots.

Armchair Millionaire Review

The Armchair Millionaire method is another binary options robot on the market that was developed by a stay-at-home dad named Lewis Grossman. Every day, new bots are developed that promise new users easy money but many are them are in the crowd of scams. Supposedly, Armchair Millionaire targets part-time traders and claims that in just one day you can earn more than $3,450. In a nutshell, Armchair Millionaire thinks they’re the best auto trading tool for your needs and they play a good hardball at persuading you to get started. So should you be suspicious?

Our team at Scam-Rank thinks you should keep your guard up. We weren’t completely convinced after doing our due diligence on this solution and believe it’s your typical scam system after careful review.

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The Armchair Millionaire System

The Armchair Millionaire method lures in potential investors with its so-called powerful trading tool. The company states that this binary auto trading tool is ideal for anyone starting out in trading binary options. You don’t need to be a finance guru or have tech expertise.

Additionally, their testimonials are bogus if you look at the “satisfied customers”, not to mention the actual earnings themselves cannot be proven. It may look promising to join the other wealthy members on this platform, and their “risk-free” line is pretty convincing. But we firmly advise you resist your impulse to invest here. We find their reputation very questionable after our investigations and this bot tool shouldn’t be considered if you seek reliability.

Armchair Millionaire – Is It a Scam?

The hype around the Armchair Millionaire method among binary options traders is that they claim that this system has exceptional profit returns in a very short time-frame. Present on the website, is a video testimonial of a female trader who states to have made over 400 trades and profits of almost $100,000. The stated success rate of her trades compared to the unsuccessful ones is very unpractical. Not even a Wall Street fat cat could be as successful in trading as this lady testifies. There have been objections and claims that this video is not a real testimonial, but a paid actress for promotional purposes. Be careful as to what to believe in the case of video testimonials because some do hold truth and others – like this one – are unrealistic.

Armchair Millionaire

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Armchair Millionaire Outcome

If you have been swayed by Armchair Millionaire’s website content, such as their testimonials and get-quick profits scheme, you should know that trading profits were less than $500,000 in over a month. Obviously, these facts go to show that this is trending towards other surviving scams that lure in new and expert traders to their site promising an absurd amount of profits in a few hours. If you do further research online, you’ll see we are not the only ones stating these facts about the Armchair Millionaire method.

Does The Armchair Millionaire Work?

The website content of Armchair Millionaire is less than great with an average webpage setup and an introduction video that goes on forever. It does, however, explain to potential users how to get started with an additional pop-up window to register and proceed to the members’ area.

On the website, there are hints that Armchair Millionaire resembles other scammers. First off, there is a timer and graphics showing you how quickly you will make money. The testimonials in the introduction video are a bit extreme, as the trading success rate compared to trading losses is highly unrealistic.

Armchair Millionaire

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The registration procedure follows that of other typical auto trading robots. You enter your details and then make a deposit in order to proceed to the platform itself. The site states about making a tremendous profit that can happen in just six hours from your initial start; this is highly unlikely and over the top. Experienced binary options traders know that this cannot happen in the first six hours after an initial deposit.

Armchair Millionaire Portfolio

First of all, every broker has a special portfolio that you can trade with. You cannot know what currencies, commodities and stocks you will be trading, and it shouldn’t matter since auto trading systems help you make the decisions. The purpose is to reduce human error and stay on the path of a certain trading strategy you have chosen. So a word of caution from our team, the Armchair Millionaire method has not been proven to work according to our research and tests. We believe it’s wiser to select a binary options broker that has an established reputation that is proven to work rather than risking a financial investment.

Final Overview

riskAfter a thorough examination, we have concluded that this Binary Robot may not be 100% safe and secure for interested traders. Overall, this auto-trading system provides misrepresentation, and profits are not optimal. Until we are provided positive feedback from traders, we cannot fully confirm this software is suitable as a Binary Robot. We Advise You to Carry on Securely and Avoid Dishonest Systems by Choosing a High Rated and Trusted Robot.

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Pros
  • Simple Registration
  • Average Deposit Required
Cons
  • Limited Assets
  • Negative Online Feedback
  • No Proven Performance
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