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Euro Millionaire System Review – The Strategy is Against You

Is euro millionaire system a scamAre you ready to finally achieve financial freedom without any experience? This is the first thing that you read when you visit a website called Euro Millionaire System. David Williams is trying to convince you that he created a system that will increase your chances of winning big money trading in binary options. Is Euro Millionaire System a Scam or a legitimate opportunity to become a millionaire?

Check my Euro Millionaire System Review to find out!

Euro Millionaire System Review

  • Product Name: Euro Millionaire System
  • Website: www.euromillionairesystem.com
  • Price: Minimum $ 250
  • Business Type: Binary Options
  • Recommended? NO 

Score: 0 out of 10

 


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What is Euro Millionaire System?

Plain and simple, Euro Millionaire System is a website promoting a binary options trading platform called Optek. David Williams, the alleged owner of the website, claims that he developed a system where you can make money quickly and easily… Yeah, I have heard that fairy tale a thousand times.

Pros & Cons

Pros

  • Although the system is misleading, they explain in detail how it works so you can make an informed decision
  • They do warn you that losing is also part of the game
  • The broker is registered by CySEC

Cons

  • The strategy is useless – it’s presented just to con people into paying a deposit for the broker
  • High risk – it’s like gambling
  • Low profit – 64% profit for each winning trade is quite low

A Few Words About Binary Options

Binary options is a way to speculate in the financial market by trying to predict the movement of asset prices. This kind of trade is well known for its simplicity as you have only two possible outcomes. Either the price goes up or down.

If you think the price will go up, you place a CALL trade, and if you think the price will go down, you go for a PUT. You also have to choose the money you want to trade, the expiration time (as low as 30 seconds) and the type of asset (currency pair, commodities, stocks, indices).

Unlike traditional trading, you don’t own any asset, and you know beforehand how much you will win or lose.

Read the next section to understand why losing money in binary options is the norm.

Understand The Risks – It feels like Gambling! 

For example, let’s say you will trade $100 on the currency pair EUR/USD with an expiration time of 60 seconds. You think the price will go up the current value of 1.138 and choose CALL.

If the price goes up after 60 seconds, you win a percentage of your trade. This percentage varies from broker to broker, but Optek gives you 64%, so you earn $64. Now, if the price goes down, the broker will take everything and you will be left with $0. This huge advantage for the broker is one of the things that makes binary options extremely risky! 

Another risk factor comes from the high volatility of the financial market. There are a few skilled traders who analyse charts, spot trends and make informed decisions about future prices. Even though, they will never eliminate the high risks involved, especially when trading with an expiration time of less than 1 hour. In my opinion, any attempt to predict the market in such a short timeframe is a complete waste of time and energy.

When you trade with a short expiration time and/or without any analysis, you are gambling, literally! In that case, it’s better to play roulette in the casino.

Woman playing roullete

How Does it Work? 

In the first page, there is a motivational video that tells you how good it is to make money online, and live the life you have always dreamed of. They urge you to act fast due to limited memberships available – B.S. It’s just an old tactic to hook you as quickly as possible.

You type your name, you email address and go the second video. This time, this guy called David Williams explains how his system/strategy works and how it improves your chances of winning.

Next, you will have to sign up with the Optek and make a minimum deposit of $250. Yes, it’s a high price entrance for a gambling experience!

Free Green Account

The strategy is simplistic and based on a tool that is offered not only by Optek but by many other brokers – The Trading Sentiment Tool.

The Trading Sentiment Tool

The Trading Sentiment Tool

The Strategy is Against You

This is a bar showing the percentage of users placing UP and CALL trades in real time. According to David, this tool is manipulated so that people choose the losing trades more frequently, thus generating more revenue for the broker. In David’s own words:

Binary options brokers offer the Trading Sentiment Tool mainly because it suits them. Brokers make money whenever traders lose money, so it’s logical that more often than not , they will attempt to influence you into losing a trade.

The strategy, therefore, is to go against the tool and choose what the minority is choosing in a given moment. In the example above, you would place “a UP trade” because it’s indicating 44%.

In addition, the guy encourages you to invest higher and higher as you win the trades. Starting at $20, then $35, $50, $75 and finally $100.

Now, this is what I call great strategy!! Not for you, but for Optek and this website owner, who earns massive commissions every time you make a deposit.

Binary options as a betting platform

The strategy is useless! Do you know why? Because the broker cannot predict the market either and, therefore, cannot influence anybody to lose a trade. This bar simply shows the real percentage of people placing UP and CALL trades. Following the majority or minority doesn’t make any difference!

In practice, they are telling you to use binary options as a betting platform, which, of course, is extremely favourable to them. Although you have a fifty percent chance, you need much more winning (in the money) than losing (out of the money) trades due to the huge broker’s edge (36%). That’s how people lose a lot of money in this business.


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Can You Trust Optek? 

In my opinion, every honest broker should cancel payments to affiliates who use tricky methods of promotion. But they usually turn a blind eye to scammers in order to keep profits, of course. Now, leaving this dark aspect aside, which is very common in the industry, can you really trust Optek?

The number 1 requirement before trading in binary options is to check regulation. There are many many scams involving brokers because of poor regulation around the World and you don’t want greater risks. Optek is regulated by the Cyprus Securities Exchange Commission (CySEC) since 2015 under licence number 238/14, which is good news.

The platform is not that bad. They have over 70 assets to choose from and different options such as Quick Options, High/low, Range and One Touch options. They also offer a free ebook that explains binary options and how to trade on the platform.

You can test drive by clicking on “Trading Accounts” and “Demo Account”. I encourage you to apply the strategy and see for yourself that you can only rely on luck! I have tried myself and had a big loss as expected.

This is a screenshot of the platform:

Demo Account

Demo Account

Bottom Line – Is Euro Millionaire System a Scam?

Unfortunately, Binary options trading is a legitimate way to make money online. In my opinion, it should be eradicated from the face of the earth!  It’s not only extremely risky but also an open door for scammers, who roam freely on the internet deceiving people and earning massive commissions from complicit brokers.

Thumbs DownIn my opinion, the strategy offered by David Willians is hopeless! Similar to other websites I have reviewed such as The Oxford MethodUltimate4Trading, Millionaire Blueprint and The Real Dream Maker, it also gives a false sense of control and hope.

It urges people to make large deposits of $250+ for a system that was designed to suck money like a black hole! 

Verdict: NOT RECOMMENDED! 

 

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How does it work? In a nutshell, you will create a website and write articles that will rank on the main search engines (Google, Bing and Yahoo) for specific words/phrases. Then, people searching for these specific terms in Google will find your website and read the article.

Great! In addition to offering a valuable content to your readers, this is also a good opportunity to promote your affiliate products!  If someone clicks on your affiliate links ( a special type of URL with your ID embedded) and purchases something from the retailer’s website (e.g., Amazon), you will earn a percentage of the retail price.

I really love the idea of making money from a website, because once an article is done, it keeps working for you and generating commissions round-the-clock. Besides, the effort that you put in the past will keep paying you for years and years! This is intelligent passive income!

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Thanks for reading! Have you ever traded in binary options? What is your opinion about this method to make money? Please, leave your thoughts and questions below. I would love to hear from you. 🙂

Your friend

Stefan

 

 

 

 

 

DISCLAIMER


ALL THE CONTENT YOU SEE AT MYROOMISMYOFFICE.COM IS BASED ON OPINIONS AND NOT FACTS. I HAVE THOROUGHLY REVIEWED EACH PRODUCT AND THEN PROVIDED MY PERSONAL OPINIONS ON THEM.

HOWEVER, IT'S YOUR RESPONSIBILITY AS A CONSUMER TO DO YOUR DUE DILIGENCE AND FURTHER RESEARCH IF YOU FEEL SOMETHING MIGHT BE INACCURATE.

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YOUR RESULTS WILL VARY AND DEPEND ON MANY FACTORS INCLUDING BUT NOT LIMITED TO YOUR BACKGROUND, EXPERIENCE, AND WORK ETHIC. ALL BUSINESS ENTAILS RISK AS WELL AS MASSIVE AND CONSISTENT EFFORT AND ACTION.

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Stefan
 

Hey Everyone! I'm a Brazilian guy who loves traveling and discovering new cultures. For a long time, I thought I would have to get stuck in a 9-5 for the rest of my life. Luckily, I found the possibility of building an online business that allows me to work whenever and wherever I want! Click here to discover the exact same training and strategy I use to make money online and pursue my dreams.

Click Here to Leave a Comment Below 6 comments
Anonymous - May 13, 2016

This is such a crazy program that you wrote about here. It basically sound like gambling or investing in stocks, except its completely unpredictable and there isn’t really any way to get an idea of what one should really invest in. At least in stocks, you have trends that are somewhat predictable, but here, it seems like anything goes. Maybe I misunderstood how this program works, but I don’t think I would eve consider it, especially the outrageous price!

Reply
Anonymous - June 1, 2016

Thank you for your article on euro millionaire system, weather it is a scam or not there are better methods to earn an income. Anything which costs a investment is a risk, I do agree this sounds like gambling to me as well. Better to go with a sure thing, starting an affiliate marketing business is a much less risk. It costs you very little to start up, what you put into this type of business the most is your time which is much less expensive for you then investing your hard earned money on a chance.

Reply
Anonymous - June 2, 2016

I’ve never heard of binary options before and I’m glad I read this so I can avoid them in the future. This seems really really risky. It also suck you win 60 percent of your “bet” but will lose a 100% of it you guess wrong. I can see people getting addicted to this and losing a lot of money.

I really like your recommendation of Wealthy Affiliate too. That’s a really great place to grow an online business and to make money, ethically.

Thanks for the Review!

Reply

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