“A penny saved is a penny earned!” That’s how the expression goes. We are going to trial this Penny Millionaire Software to find out what the pro and cons are. Is Penny Millionaire worth your time? Read this Penny Millionaire review to find out all details.
(6 / 10)
Website: http://www.pennymillionaire.com/ Their website quality is ok.
Penny Millionaire™ <--Official Link
What is Penny Millionaire?
Penny Millionaire is an Auto Trading software service created by David Forrster. Penny Millionaire has some characteristics of scam service due to the score system which BOT uses to find out whether such a binary options service as Penny Millionaire could be a useless piece of software or not.
How much Penny Millionaire system cost
Penny Millionaire is advertised as free as with all auto trading software systems because the broker pays a fee to the auto trading system. Even though Penny Millionaire is advertised as free the broker account with which you will need to open account will need deposit of $250 minimum. That is ok but you should checkout if 1 the auto trading software is real and works and 2 binary options broker is not a scam. Once these two things are verified you are sure to be safe that any money deposited or traded in your broker account is completely yours to withdraw anytime you want.
Is Penny Millionaire software system safe?
To be on safe side we only recommend auto trading softwares which work with trusted brokers. To our understanding regulated brokers are more safer than unregulated brokers, however there are some restrictions placed on regulated brokers which is why they are not able to provide their service worldwide. We have also found regulated brokers to charge higher fees because they have more costs. In either case any auto trading software such as Penny Millionaire which we recommend you can be rest assured are safe to work with.
The whole idea behind Penny Millionaire is that every little bit adds up and it can add up to a lot. Personally that’s how I live my life trying to save every bit of penny I can so that there is little waste. I also do not buy things unnecessarily if I don’t really need them. The end result is that I end up having more money in my pocket.
David Forrster has coined his own expression “a penny saved is a million earned”. He shows his viewers the power of compounding by placing 1 cent in his calculator and compounds it over 30 days to get $10,737,418 dollars. We decided to repeat the calculation using excel and it was correct.
I guess save your pennies so that they all add up
The logic is that if we have won just 1 trade everyday by compounding it would become a seven digit figures overtime.
We worked out by compounding to see if one can really become a millionaire over 30 days. To our non-surprise we can see that one cannot.
There are better alternatives than this Penny Millionaire, something came out few months back and still going strong, its called Wall Street Trading Software. If you are looking for Auto Trading software then Wall Street Trading Software will do the job, it also has multiple broker functionality.
We then thought about being realistic that no broker actually lets you trade with 1 penny as most brokers want traders to place minimum of 25$ and there might be a very few which would allow 5$ trades. So we started our investing projections using the norm 25$ to see whether one would become millionaire using the 85% profit returns and they answer was yes.
However there is ONE BIG PROBLEM WITH THAT. That is you must win all 30 trades because if you lose any single trade you would LOSE EVERYTHING!
But to be fair you would only lose your initial invested amount of $25 because rest of the money you gained came from the binary options winnings.
We thought to let our rookie traders know that more brokers won’t allow trades more t han 500$ or some scam brokers to let you trade of even say 10,000$ but then how would you place a trade say at day 18. It’s simple you would have to place multiple trades of say 1,000$ each etc. It could end up a lot of work.
We hate losing trades and we are very sure you would too. The weakness in this compounding idea is that you are always winning and as our viewers know in reality you must lose some to win some and that is the life of binary options. Apart from that if you have any login or registrations issues you may contact us for help and we would be glad to answer any of your question.
Here Mr. David starts his calculation of compounding interest using his phone.
Here you can see some sort of bank account, but as we know for experience to not believe in everything you see on screen.
Here is when David Forrster calculates his pennies to add up to the $10.7 million dollars.
As usual they offer “free and exclusive” membership. David in his Penny Millionaire talk about how you can pay off the mortgage of your house. New car, a boat? The choice is yours he says. Out of the free perks they trying to offer you, be sure stay clear of any binary brokers of any tricks to get a lock down on your money by not accepting any bonuses.
To our surprise David confirmed that this is an online lottery system that takes 100 people on average everyday to help them transform their lives in one month’s time.
Is Penny Millionaire Auto Trading Software similar to Signal Service?
Signal Service is slightly different to Auto Trading Software because an auto trading software places trades automatically with it' connected binary options broker. However signal service predicts position which you can use to place your position manually to any binary options broker. See details below to see which binary options brokers are connected with Penny Millionaire.
Penny Millionaire is marked as take caution, what does it mean?
BOT website has three categories in which we place ranking according to our assessment. Take caution would mean that we think that Penny Millionaire is neither best nor a scam. At the same time we advise to be careful signing up with . Do not deposit money which you cannot afford to lose. Try not to accept free offeres from their broker as this can cause difficulties later on.
|Possibility of scam||Medium|
|Starting Balance||250($€£) or major currency|
|Compatible Brokers||Optionstars, OptionFM|
Conclusion of Penny Millionaire review
We conclude that theories presented in this system is vouchable but to put them in practice their system may be worth a try. The video to be fair is the same old routine how you can find ourselve out to life of freedom by trying out their system. We aren’t that excited about it as it offers nothing special but we can say it is slightly better than what we have seen in most of the money systems out there. If you want to try this software or have any questions before contact us here.
Verdict: Penny Millionaire Take Caution
Penny Millionaire is rated
6 on scale of
Penny Millionaire™ <--Official Link
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK