There are a lot of different opportunities available on the internet when it comes to making money online.
Thousands of websites are offering various ways for you to make money on the internet. You can make money answering surveys, downloading apps, and doing freelance work.
You can even make money watching videos, testing apps, and websites, and completing other various tasks.
There are even opportunities to make money online trading in the stock market, cryptocurrency market, or forex market.
One such website offering this kind of opportunity is My Profit Formula. It’s a site that offers binary options trading.
Binary options is basically a kind of trading option that will let you profit from the fluctuation of the market.
This opportunity claims that their software executes winning trades to allow you to earn thousands of dollars. But is My Profit Formula really a legit option or just a scam to avoid?
You can also check out the step-by-step training that helps me earn over $10,000+ per month working from home.
My Profit Formula Is A Big Scam That You Should Avoid
My Profit Formula claims to provide an opportunity for you to make money online. The site says that you can earn thousands of dollars with what they are offering.
The program was supposedly created by a woman called Megan Sanders, a former senior analyst at Deutsche Bank who managed clients accounts.
She said that her program can help anyone make thousands of dollars a day. She even said that if you don’t earn any money within 24 hours, she’ll compensate you for your time.
It’s basically a site that allows you to do binary options trading to make money. Unfortunately, all of these claims are just empty promises as My Profit Formula is just a big scam that you should avoid.
For one, the supposed creator, Megan Sanders, doesn’t actually exist and the woman showed on the video is a paid actress.
Another red flag with this opportunity is the use of fake testimonials to make it look legit. They also hype up the earning potential of the program, making it a get-rich-quick scheme.
There is a lot of evidence that this program is really only designed for you to lose money instead of making money. I’ll discuss these issues and red flags in more detail as we progress in this review of My Profit Formula.
Who Uses My Profit Formula?
My Profit Formula is supposedly designed for people who are looking for opportunities to make money online.
The site claims to have a program that can earn you thousands of dollars per day. The earning opportunity the site offers is basically binary options trading.
As enticing as the earning potential of this program sounds, it’s all a big lie as this opportunity has already been proven to be a scam.
In the next section, I’ll discuss in more detail the red flags and issues that My Profit Formula has. I’ll also briefly tackle how binary options trading works.
Why is My Profit Formula Considered a Scam?
My Profit Formula is a site that offers binary options trading as a way for you to make money online. If you’re not yet familiar with binary options, it’s basically a way to make money taking advantage of a market’s volatility.
This is how it usually works, you decide on an asset that you want to bet on, it could be a stock, a currency pair, commodities, or cryptocurrency, depending on what the broker offers.
You bet whether that asset will go up or down during a certain time frame. If you guessed correctly at the end of that time frame you make money. If not, you lose the money that you have bet.
What’s worse is that losses in this kind of trading method are more devastating than other regular trading methods. This means your win percentage will have to be really high in order to make a profit.
This is the opportunity that this site offers and they claim that you can make thousands of dollars a day with it.
But with My Profit Formula, the chances of that happening is nil. This is actually one of the red flags with this opportunity, as there is already evidence that this program is designed to regularly execute losing trades.
Their goal really is to make you spend more money, they’ll make sure you won’t earn a lot so you’ll put more money into your account.
The offshore brokers that this program recommends are known fraudsters who are only out to make money and not interested in the investors well-being. So don’t expect to make money with this opportunity.
Another red flag is the fact that My Profit Formula uses a paid actress to pose as its creator. Megan Sanders is not a real person, and this has already been proven countless times.
Doing a search on this person or verifying the supposed credentials she has yields zero results, she is just a created character. The woman in the video is just a paid actress.
But she’s not the only fake identity used by this opportunity, as the testimonials from supposedly profitable people are also fake.
Doing a quick search revealed that the photos used are all stolen or taken from stock photos. So, My Profit Formula really doesn’t provide any proof that there are people who have made money with their system.
Another red flag with this opportunity is the fact that they hype up the earning potential.
Not only were they using fake testimonials that claim they made thousands of dollars, but Megan even says she’ll give you $5,000 if you don’t make money within 24 hours of using the system.
Of course, you won’t see any of that money as this is really all just a ploy to get you to sign up and invest money.
The program is not free, as you’ll be required to spend $250 on the brokerage account they recommend to supposedly gain access to the system.
This is not a new scamas there have been other binary trading programs that used similar tactics to My Profit Formula. So if this feels familiar, you likely encountered a similar scam program before.
What I Like about My Profit Formula
Now that we know what My Profit Formula is and how it works, it’s time to discuss what I like about this opportunity.
- Now, there’s really nothing to like about My Profit Formula, considering this opportunity won’t make you any money. You’ll actually lose money here rather than make money so you’d be best to stay away.
What I Dislike about My Profit Formula
When it comes to the things that I dislike about My Profit Formula, there are actually a lot of them. But I’ll focus only on the important ones that you should be aware of.
- The first thing that I didn’t like about My Profit Formula is that there is a lot of evidence that you won’t make money with their binary options trading system. There are a lot of complaints and reviews that says the trading signals they send only executes losing trades. This means that not only won’t you make money here, you will actually lose money as well.
- Another thing that I didn’t like about My Profit Formula is that the site uses paid actors. Not only do they use them to provide fake testimonials, but even the supposed creator of the program is also a paid actor. This really shows that this opportunity is really just a fake as the identities of the so-called people who are connected to the program are all fake.
- I’m also not a fan of the fact that My Profit Formula overhypes the earning potential of their supposed program. The creator even provides a guarantee that if you don’t make money within 24 hours she will compensate you. The problem here is that this gives a false impression that making thousands of dollars online is easy and simple. Yes, it’s possible to make a lot of money online but it is not easy. You have to work hard and be dedicated in order to achieve your target earnings and it won’t happen with this opportunity.
Do I Recommend My Profit Formula?
After learning more about My Profit Formula and what they really bring to the table, I can say that this is an opportunity that I don’t recommend.
This program is just a scam, designed to steal your money and information. If you join and start trading binary options using the signals they send you, you’ll only end up losing money instead of winning.
The system is designed only for the benefits of the brokerage companies that the site recommends. So, if you see this program or if someone is promoting it to you, I suggest you decline it. Don’t even think about trying it out.
You’ll just lose your money in the process. There are a lot of better money-making opportunities out there that you can try.