Why is 7 Day Millionaire a Scam
Binary options trading gives you an opportunity to earn money quickly, and 7 Day Millionaire is a system that promises to accelerate that process significantly. Considering the risks that accompany this financial derivative, and more importantly the better offers available today, it is a safer proposition to avoid using 7 Day Millionaire.
If compared to top tools such as Money Multiplier, 7 Day Millionaire is outdated and not reliable. Money Multiplier can help you earn profit, but at a reasonable and cautious pace, while guaranteeing the safety of your investment by partnering only with regulated brokers. You can access its site to open a trading account and trade within minutes.
Dangers of trading with 7 Day Millionaire
Binary options trading is both highly rewarding and highly risky. Although traders can earn money, loss is also a possibility, which one should always keep in mind. That is why an offer such as that made by 7 Day Millionaire is so questionable. This video is claiming to be able to turn 250 dollars into one million in seven days, yet it does not mention the simple risk: losing the 250 dollars.
Another factor points out to 7 Day Millionaire not being reliable is that it does not explain what the software does, how it operates and what guarantees there are to safeguard your money. While services such as Money Multiplier or Trading Compass give you the tranquility to always be trading only with licensed brokers, 7 Day Millionaire does not even mention the need to open an account on a trading platform.
Binary options trading companies have return rates of up to 95% per transaction, and surely this is a very attractive yield, especially since each trade normally expires within a few minutes. The premise that 7 Day millionaire try to sell is that since you can almost double your money every few minutes, reaching one million dollars within a week is possible. Yet such a calculation is misleading.
How to profit from binary options
One question you should ask yourself to avoid scams is: how can companies afford to pay clients 75% in average for each trade? After all, that money must come from somewhere, and since there are no commissions involves, how can such a business maintain itself?
The answer is simple: While each accurate prediction forces brokers to pay 75%, incorrect predictions allow them to earn 100% back. As a result, as long as clients continue to predict about half the precisely, the binary industry is guaranteed to earn more money than its clients.
The good news is, that when you are able to find the trading strategy or auxiliary tool that push the odds in your favor, you would be able to revert this scenario, and indeed earn a lot of money.
Even then, the Seven Day Millionaire suggestion is unreal. No trading robot, neither the clearly unreliable 7 Day Millionaire nor the highly regarded Money Multiplier, can predict more than 95% of the trades correctly. This is unrealistic, and that is what it would take to generate a million dollars so quickly.
Yet if you are able to maintain a consistent daily success, even if by the slightest of margins, money would eventually multiply.
7 Day Millionaire Revised
Instead of trying to reach crazy levels of success and make a million dollars, a strategy that is sure to backfire and leave you without even your initial funds, try thinking of what would happen if you would be able to earn a simple 1% per day. When compared to the amazing return rates of 70, 80 or 90%, that would seem a too modest goal, yet first, understand what the outcome of such objective would be.
If you start out with a 1000 Euro account and smartly use a reliable device such as Trading Compass, a 1% daily increase would generate more than one million euro within two years. True, this is a much longer period that the 7 Day Millionaire proposition, yet it is also a much realistic goal, and one that if reached, could indeed turn you into a millionaire.
Why you should avoid 7 Day Millionaire
- It seems like an internet scam: an offer to earn millions for a small initial investment, without explaining how this is possible
- No guarantees nor protection of your funds. It is unclear where your money will physically be and why you should trust it will be well kept
- The availability of better tools that have been tested and do give the necessary reassurances to their clients render this product needless
- The failure to disclose the risk involved. The product does not warn you about what could go wrong
7 Day Millionaire Scam Conclusion
- 7 Day Millionaire, a software for binary trading, was recently launched
- It lacks the most basic information about the product, the nature of the investment and the real chances of success
- The idea of being able to earn a lot of money online is not unprecedented, and many traders do profit
- To achieve success, it is important to choose the proper software offers, and considerably lower expectations
- Always trade online only through regulated companies. Otherwise you are at a high risk of losing money