We just investigated Penny Millionaire to put their claims to test and to see for ourselves if their outlandish claims have any ground after all. It did not take us long to find out that this is NOT a legitimate business or ‘software’ as they claim to revolutionize investment.
We do NOT recommend Penny Millionaire as a trusted website or a possible income source. We do NOT consider Penny Millionaire an effective trading tool either. You might want to check out the list of recommended Robots if you want to get into actual trading.
Penny Millionaire Review
It’s hard to fool us here at Scam-Rank. We have been in this business for long enough to claim that we have seen enough (if not all). We have reviewed legit businesses and exposed con artists alike. Very few were as easy to expose as Penny Millionaire.
Penny Millionaire starts an introductory video as soon as we land on their website. The video claims Penny Millionaire uses a custom software that uses a specialized algorithm to predict winning trades on the stock market. The intro video in this website starts with an outlandish claim that a single cent had yielded more than ten million dollars in compound interest after 30 years. We decided to do the math and see what kind of annual return it takes to make tens of millions from a single cent. Our calculator blew up! Even with a 1000% interest rate, compounded daily, a cent can only grow to be $3.43. They also exaggerated how compound interest works, anyone with basic financial knowledge can prove their claims as a straight out scam.
Their customer reviews are most likely fake. They claim to have received 5-star reviews from virtually non-existent columnist from fictional journals (namely: Entrepreneur Today, Online Business Today and Techfinanciall)
Penny Millionaire Up close
Lack (or absence) of relevant content is always a red flag that we here at Scam-Rank never like to ignore. The intro video features multiple testimonials and they all claim to gain big from this website. There aren’t many details about the process, but a lot of details on what they do with their money.
We also visited the YouTube channel of David Forrester (only person featured from Penny Millionaire in the website), he doesn’t have much activity to speak of, and of course, comments are disabled on ALL his videos. I guess transparency and answering legit questions is not his best
What is Penny Millionaire?
The website doesn’t give us a contact and the only person who was featured on the website is David Forrester. We will call David, Penny Millionaire spokesman. He claims that you can be a millionaire in 30 days – guaranteed only if you sign up RIGHT NOW! We did sign up, and the next page shows us some ‘winners’ who have used Penny Millionaire and earned several thousands of dollars over several months (couldn’t spot one 30-day-millionaire like the spokesman claimed in his video).
Penny Millionaire doesn’t have any social media presence in any major social media outlets including: Facebook, Twitter or LinkedIn. We also discovered the footer section of Penny Millionaire mentions the following:
“Dowfocusgroup.com has no affiliation of any kind with the Dow Jones Stock Market Index”.
We don’t know why they made this claim and who is Dowfocusgroup.com but we did lookup the website and it was a parked domain. It appeared that this website was in a similar money making scheme in the past before they went KAPUT! Possible recycling of website content? Who knows!
They claim to have software but we didn’t see any software specifications. To make things even more interesting, the name of the software is even unheard of when we quickly tried to look it up. We also found that several claims made on the website aren’t just pure lies, in some cases they are non-existent just like their fictional ‘software’. Penny Millionaire claims they won “Supreme Software Award 2016”, we couldn’t find that award anywhere on the web. Same with “Financial News 2016 Winner” – there’s simply no such thing!
The Penny Millionaire website is based on a single video that features contradictory information and a bizarre attempt to lure people into investing with them. They don’t have any content to back their claim and lack credibility. Their claims are beyond ridiculous, and there is no way we at Scam-Rank can endorse this website. We recommend that you steer clear from Penny Millionaire.