Name: Armchair Millionaire
Owner: Lewis Grossman
Price: “Free” with a catch
Rank: 0/100 – Scam
What Is It?
While the name Armchair Millionaire alone can raise some suspicion, I wasn’t expecting this product to be as bad as it really is.
On the other hand, this product created by the supposed owner, Lewis Grossman introduces Armchair Millionaire to us with his story of how he managed to make $3,450 with just a $250 investment capital.
Ahh, there’s that magic number – $250, the startup cost needed to get started in any binary option trading. What might really trick you into thinking this product as a legitimate option to start making money, is its CNN screen news shot. So while you may be asking how in the world did this product manage to get landed on CNN, don’t let it fool you just yet.
The only reason why he was able to get featured on CNN is because Lewis Grossman is also the author of an investment strategy book.
This coupled with another affiliate marketing product (also) titled Armchair Millionaire is the only reason why he was able to land this news story. And, if you’re still unconvinced why don’t we go over the product itself.
How Much Is It?
Armchair Millionaire is free to join. While this may sound somewhat surprising initially, there is a catch to this. To get started, you’ll need to invest a $250 minimum deposit. Although, this money does not go straight into the hands of Lewis Grossman, he gets paid a nice hefty commission for you doing so.
How It Works?
Simply said, Armchair Millionaire is a binary options auto trading bot. Basically, you invest the money, and the bot goes to work for you. These binary trading products claim that these bots have the “superpower ability” of decreasing your chances of loss, by finding the most potentially profitable investments for you.
What they don’t tell you, is that while you can go on a winning streak to earning $3,450 (although unlikely), your chances of winning never exceed 50%.
What That Means?
Concisely stated, the game of binary option trading is almost no different than gambling itself. In-fact, I’d much rather play my hand in poker, or even roulette, than go this route.
This means, every trade you make, has a 50% chance of losing, and 50% chance of winning. It does not matter what trade you decide to bet on.
You see unlike stocks, the binary trading market is so short-term and volatile in nature, its historical aspect of winning/losing does not even play a role in the future outcome.
Armchair Millionaire Overview
Armchair Millionaire proves to be no different than any one of the other 1,000 and growing binary option schemes. They will tug and tug away at you until you are finally ready to give in. The product even claims to offer bonuses which can’t even be withdrawn unless you make 30 times the amounts of trades!
They also tell you that the software won’t work unless you make a minimum $250 deposit. That coupled with all their fake consumer testimonials makes the Armchair Millionaire a pretty lousy strategy to making money overall. If you want to see how I’ve been able to manage a nice monthly income, through a legitimate product, called Wealthy Affiliate make sure to check out my review.
I think you’ll agree that while Armchair Millionaire is nothing more than a marketing ploy, that there are still a few good products out there willing to show you the real ways of making money on the internet.
Thanks for reading this review. If you have any comments, questions, or concerns, feel free to leave them below.