Is Armchair Millionaire A Scam?

Ambition knows no bounds in the online market of scams. It’s becoming increasingly difficult for binary options scams to be noticed because of the sheer number of products that are released every day. So is Armchair Millionaire a Scam? This time I’ll let you decide whether or not it is. My popcorn is ready and I’m good to go, so let’s make a start with this review.

So how do scammers overcome the obstacle of being noticed and getting ranked by search engines? By piggybacking on the success of another well-known investment / money-making product of course (more on this below).

Product Review of Armchair Millionaire

Name: Armchair Millionaire
Cost: Free Software, $250 Minimum Deposit
Owner/s: Lewis Grossman
Rating: 0/10 ☆☆☆☆☆☆☆☆☆☆

Learn how to make real money online with my top recommendation.

An Introduction to the Stay-At-Home-Dad

We are introduced to Lewis Grossman, a stay-at-home dad that owns Armchair Millionaire. Lewis explains that he discovered a method of making tonnes of cash with little to no effort and, you guessed it, he would like to make the same thing possible for me and you. Aren’t we just so lucky? Our Stay-at-home dad then tells us how he earned $3450 from an initial $250 in just 1 day. Imagine how much popcorn I could buy with that kind of cash?  😯

Lewis’ money claims certainly didn’t grab my attention but what did were the news articles that he shows us during his promotion. An example is the yahoo finance article shown below-   

I’m a bit surprised to see Yahoo showcasing a questionable product. How did this come about? This owes to the fact that Armchair Millionaire is also the name of a questionable Multi Level Marketing/affiliate marketing system. Another clever trick was for Lewis to give the product a similar name to a popular investment portfolio book by Lewis Schiff and Douglas Gerlach, which is a completely legit book. It’s easy to for anybody not to spot the difference.  

 As you can see from the above cunning trick, online scammers can link themselves to a legit product or company in the hope that nobody spots the difference and invest in a dodgy product based on the trust reviews of the genuine product. The scam artist will also benefit from increased ranking in search engines. This almost made me choke on my popcorn! 

What exactly is Armchair Millionaire?

In summary, Armchair Millionaire is a binary options that automatically places trades on your behalf.  Apparently, it increases the original investment 5 times in a 6 hour period. This is how Lewis justifies his big statement that his product can create big profits of $3,450 per day. Wouldn’t it be nice if making money was this simple?

The confusing bit about Armchair Millionaire is that it never actually shows you how it multiplies your original investment. Maybe it uses magic but who knows. Furthermore, I’m not sure how this money is made over the weekend if the markets are closed. Maybe I’m missing something here but it all sounds a bit too convenient to ring true. 

The system will also prompt you that you need to invest a minimum of $250, like most of the other Binary options systems I’ve reviewed. But in this instance, you are led to believe that Armchair Millionaire can’t work until you’ve invested the minimum $250.  

How does Armchair Millionaire make you take your money?

Once you have sat through the various sales videos you are then directed to a broker named BinaryDas who are a brokerage located United Kingdom with links to Hong Kong. I did some further research BinaryDas and it turns out that many of its customers are unhappy and have lost their money through this brokerage. The trust rating for the site on scamadviser 0/100 and set at high risk. (See below)

It’s harder to find a positive review for this firm- I couldn’t find a single review that was remotely positive. Here are some of the customer reviews for BinaryDas.

I also looked at the bonus incentive for BinaryDas and reviewed the terms and conditions surrounding how the profits are paid out…

I discovered that you won’t be able to withdraw any of your profits until you have performed a minimum of 30 trades! You can’t get your hands on any of the funds in your brokerage account including your original deposit until you have met the minimum criteria of 30 trades. 

Personally this sounds a bit like a game monopoly. The money is never really yours including your original investment. It’s an unsustainablehigh-riskk model and the odds are stacked against you. The only people winning are BinaryDas & Armchair Millionaire. If you would rather receive the best training to create a full-time online business I recommend you click here.

This trading model has a lot of hoops to jump through before you get to your supposed “pot of gold”, so I’m assuming that the Armchair Millionaire auto-trader has a smart way to get round all these obstacle and work hard at keeping me profitable. But with no solid proof except for customer testimonials is it worth the risk? 

Are the Customer ‘testimonials’ legit?

As you progress deeper into the sales video you eventually get to the testimonials section and get the chance to see what some of the existing users are enjoying about the system. It also gives you the opportunity to weigh out the pros and cons of the system. But are the ones found on Armchair Millionaire what they make themselves out to be? 

There’s about 5 customer testimonials and below is a man that calls himself Alex, in one of the reviews, who turned out to be a paid actor that can be hired from Fiverr.

Another testimonial by a guy named Ryan. But guess what? Yep he turned out to be another paid actor from fiver.

I don’t know about you but if a product owner has to pay for fake positive reviews then I don’t trust his services and his claims to a wealthy lifestyle.