Writing a review of the Armchair Millionaire binary software was easy. In fact, writing a review of any of these binary systems is easy because they’re always a clone of the last one that came before it.
Armchair Millionaire binary software is no different and I have to refer to it as “Armchair Millionaire binary software” as a result of their foolish efforts to leech off the name of one legitimate publication that goes by the same name.
In this review, I’ll be pointing out some of the things I picked up from the video that makes this system a fraud and no different from all the other binary software.
Not the Other Famous Armchair Millionaire
On April 3, 2001, a guy named Lewis Schiff along with Douglas Gerlach released a book called The Armchair Millionaire.
The book was an investment guide based on the philosophy of a website the authors ran together, armchairmillionaire.com. The website was hugely popular and frequented by thousands of ordinary investors.
In the book, the authors asserted that the keys to financial success were learning about the stock market, avoiding brokers who insisted that they knew the answers and controlling debt.
The following excerpt from the editorial on Amazon, taken from Publishers Weekly explains what the book was all about.
In fact, the heart of this program is based on five simple steps max out tax-deferred savings plans, set aside money for yourself before paying your creditors, invest automatically, use the “armchair” investing policy and start today. Schiff and Gerlach’s mix of anecdotes, homespun advice and investment strategies will be familiar to those who frequent the site.
In my view, Armchair Millionaire, this new binary options software intends to confuse people who aren’t really familiar with it’s popular predecessor but cautious enough to do brief research into thinking they were released by the same person.
They take the same name, Armchair Millionaire and the narrator in the video is referred to as Lewis which is in common with the original book’s author. If you’re not careful, you might miss that the software’s site is a .net and not a .com as the original.
To put it simple, Armchair Millionaire, the book written by Lewis Schiff based on the website ArmchairMillionaire.com is entirely different to this Armchair Millionaire software by Lewis Grossman. Lewis Grossman is a made up name by the way and I’m sure they chose “Lewis” because they were jacking the Armchair Millionaire name.
No News Coverage of Armchair Millionaire
Just like all the other binary options promos, there is no shortage of underhanded marketing techniques in Armchair Millionaire.
One of those I caught was where in the video, the narrator shows some screenshots of news websites that they were mentioned on. Although the screenshots clearly mention Armchair Millionaire, it appears that the people behind the site did some editing of the screenshots to include their name.
Here’s an example of what I mean. This first screenshot of one I took of the video where they say they were mentioned on Yahoo News.
Seems legit, eh? I looked up the story and they took out the entire snippet at the top and replaced it with their own. Here’s the original story from Yahoo News UK.
So Armchair Millionaire which is actually a very new and simple (and shady) promo for a binary options broker website was never mentioned on any news website. They just want you to believe that for credibility but with a little skepticism and some research you’ll know better.
The Testimonials are Paid Actors
The next observation is actually common with ALL binary options clones. The testimonials are all paid actors, some being paid as low as $5 per testimonial.
You can find these actors on sites like Fiverr, Elance and other microgig and outsourcing websites. They offer video testimonial services for a small fee and they act as if they actually made these ridiculous and outrageous earnings from a simple software with not much input.
Everyone in the video including the author are only making up these figures no matter how many screenshots they show you. There is no software that is going to have the same human intuition to automatically win trades for you without your own input.
These are plain lies all planned out by the people who make these stupid binary options promos.
Armchair Millionaire and Binary Book
Binary Book is one of the brokers that you’re going to be dealing with when you register with Armchair Millionaire. I think on the JV page I checked out, they mention that they were rotating a lot of brokers so there might be others.
I checked out Binary Books affiliate program and they offer up to $450 CPA for every person that makes a deposit.
This is clearly the reason why all these promos including Armchair Millionaire, try so hard to the point where they outright lie and cheat just to get you to give their software a try.
The software they make such a big deal about isn’t anything specially developed by Lewis Grossman, but instead a binary options trading robot everyone is given access to through the broker they sign up with so they can “automatically” make trades.
The amount of lies you’re being told in these binary options promos are ridiculous but nothing beats out the way they make it seem as if you can just do nothing, have no experience and just make thousands and thousands and even millions of dollars by pushing a software button.
They even try to rip on the gurus that try to make people believe these lies. They’re pretty much in the same boat.
Skip Armchair Millionaire and Binary Options Scams
The truth is that binary options trading is not a way to make money online. It’s a sure way though to lose money online.
My suggestion is to stop believing the lies, do your research and skip anything that refers you to binary options brokers. There are much better ways to make money online.
The only people making money from these promos are the people behind them and the people promoting them for a commission. They’re both using a business model called affiliate marketing.
The creators of the site are affiliating with the broker who will give them up to $450 for every depositor they send. The people who send out invites to Armchair Millionaire and those who put up fake reviews are getting huge commissions as well.
I’m also an affiliate marketer but the difference between me and these guys is that their methods are highly unethical while I try to offer value and help people to find a solution to their problems.
You can’t have a long terms business if you do unethical affiliate marketing but once you try to offer value and be honest, you can make money for years.
If you’re not lazy and want to learn how to do honest affiliate marketing from honest people who know what they’re doing, you can try the same site that taught me how to do it.
Had experience with Armchair Millionaire? Let me know in the comment section below. It would be useful for others.