Is Profit Magnet a Scam?

Summary

Currently, we are not able to deem Profit Magnet as a safe Binary Robot. We highly advise you a safer method or use Profit Magnet at Your Own Risk! For more security and better performance, select our highly-trusted system or browse the list of other popular systems.

Binary options trading is proven to generate income and has become increasingly popular around the globe. Every day new trading bots are developed and tested to optimize a trader’s experience. One of the latest to be released is the Profit Magnet software. 

Auto trading platforms are highly sought after by traders because manual trading can require tedious research and can entail devoting hours of studying. Many do binary options trading on a part-time basis, so auto trading bots assist them in executing decisions. Currently, we are not able to deem Profit Magnet as a safe Binary Robot.  If you’re looking for more reliable alternatives, you might want to check our list of recommended trading robots:

Profit Magnet Software Review

The Profit Magnet auto trading software can be accessed via their website as soon as users register. This robot has only been recently available to binary options traders and is claiming that it can generate very hefty profits. Our team is quite skeptical about this company’s promises, thus we dug deeper into the matter.

Profit Magnets is one of the many auto trading bots claiming that any of its account holders can attain $1000 per day. This seems very unrealistic to our team at scam-rank. Read to learn if this software is a magnetic profit-making machine or not.

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The Profit Magnet Webs

We have uncovered a few details regarding Profit Magnet, which arise high suspicions. After careful analysis, we did not find any legitimate documentation, therefore, we don’t believe this is a safe auto trading tool for traders. When landing on their page, you will be welcomed by a rather convincing and punchy video that is marketed rather strong to attract potential investors.

What makes it suspicious is that there is a five-minute countdown to signing up and they pledge a $1000 profit as soon as you begin. This is an impossible amount for a free software to generate in less than a day. Unfortunately, Profit Magnets software shares the traits of other scam models advertised in the binary options market, so don’t be so easily convinced.

Is The Profit Magnet Software a Scam?

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“You can make millions,” says the Profit Magnet website. This type of income in a few days is impossible as any famous and well-respected trader will tell you. Even binary options traders that have years of experience swear that this is highly unlikely just by making a minimal deposit of $250.

We suggest you seek a more bona fide system that has real legitimacy and for you not to believe every advertised software. There are binary options trading tools that can help you accumulate a significant amount of profits in a realistic time frame, but this one seems too good to be true. We did not uncover anyone that generated $1000 in a day using the Profit Magnet software, so be cautious if you are willing to risk an investment.

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Profit Magnet in Action

The hourly profit that the Profit Magnet software pledges is rather absurd in the binary options community. This is another red flag if a system claims to make $11 into $200 every hour; rather impossible. There is nothing transparent about Profit Magnet. The website and software itself don’t provide any clarification as to how this system generates its algorithms. This system lacks the facts and statistics proven to make it a respectable and reputable system for traders. We advise that you should consider another safer system if you are looking for real profits from a system that derives its signals from empirical algorithms.

Profit Magnet Experiment

Unfortunately, the profits we experienced using the Profit Magnet software were disappointing. The system also didn’t pass our safety standards, as we couldn’t verify if the bot’s signals were real or false. The actual faces and founders of the company are unidentifiable; fake testimonials and unknown creators. Should you be nervous about this system? We suggest you don’t give it a minute of your time because you will end up unsatisfied with your outcome.

Systems like the ProfitMagnet, have created a bad name for binary options bot tools. Yes, you should be cautious but, we reassure you that there are trustworthy bots that you can benefit from.

ProfitMagnet Final Overview

riskThe purpose of binary options trading robots is to help the trader execute smart trades without having a professional present. Profit Magnet lacks reliability and the generated signal predictions are problematic. Binary options traders online are complaining that they cannot trust this system because the signals keep changing. Many traders complain that the Profit Magnet platform makes absurd predictions that caused them to lose a lot in profits. Based on these reviews from users, it may not be a magnetic profit making machine.

We cannot confirm that Profit Magnet is a 100% scam, but with a guaranteed 97% win rate and no one raving about making profits, does create suspicions. There are too many negative comments floating around the binary options community about Profit Magnet being a bogus system and untrustworthy.

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Pros
  • Beginner Friendly
Cons
  • Needs Monitoring
  • Illegitimate Company
  • Limited Assets
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