I remember there was a time when I would fall for stuff like China Millionaire based on the stuff mentioned in the video.
Of course though, over the years I’ve learned how to spot a scam and figure out how these swindlers can make a story so believable.
The 12 minute China Millionaire video starts off with some verifiable facts. I guess they look at the financial news so that they can get ideas and saw the news on how China now has more millionaires than any other country except for the United States.
Mix this little fact with a tonne of falsity and you have the recipe for creating a believable scam. This is the case of China Millionaire.
What Is China Millionaire?
China Millionaire is nothing but a promo for the binary trading broker Binary Book.
Contrary to what is mentioned in the video, it is not some revolutionary new trading software created by a mathematician called Jin Lee who supposedly shared his 99.8% accurate creation with other people in China helping them to become millionaires overnight.
If you’ve seen other binary options promos, you will realize that China Millionaire is just a new take on an old scam. Here’s how the scam works:
- Watch a video with a story about how some guy is giving away free software that can make you very rich.
- Put in your email and then your other requested details on the next page
- Add $250 to start trading at the recommended broker
- Lose your money
“Jin Lee” and the people behind China Millionaire make money when you’ve completed the third step even though they all say that it’s for free and they don’t want your money.
Binary Book, their recommended broker pays them a hefty commission (more than $250) for sending people who make a deposit.
This agreement between Binary Book and the China Millionaire owners is called affiliate marketing which is a very legitimate business model used by lots of big companies like Amazon, Itunes, Target and more. This is how the China Millionaire owners make their money, not with binary options.
It’s funny because in the video they somehow implied that affiliate marketing was bogus. Well this is how a lot of people on the internet make money. I’ve seen millionaire affiliate marketers but never a real binary options millionaire.
Fact or Fiction?
As usual, in an effort to get you to go deposit $250 at their broker, the scammers are telling all sorts of lies and giving you fake stories, testimonials and other things to make their story believable.
Here are some of the things that look real on the China Millionaire website that are actually very much fake. Did you spot them?
If you spotted them, do you think that these people HONESTLY care about your success and financial well-being? Or are they just out for the cash-grab?
The Facebook comments: (FAKE)
The Facebook comments below the video are fake. Due to the fact that you can’t really make money with the non-existent China Millionaire software, yet some people are saying how they make some very large sums of money with little time.
But that’s not how I knew the Facebook comments were definitely fabricated. I knew because…
The Twitter comments: (FAKE)
I checked the Twitter comments on the right side and there are two users giving the exact same praise for China Millionaire.
That’s not all. I checked each of the usernames (the ones with the @ attached to them) and these are supposed to be unique. I found some didn’t exist at all and some were entirely different people.
Testimonials in Video: (FAKE)
It is commonplace for these types of productions to use fake testimonials, usually people on micro-gig sites like Fiverr who sell testimonials for as low as $5.
This is what’s going on here on China Millionaire.
A quick search of Fiverr and I found this guy who goes by the handle dtp1987.
I’m willing to bet that the other two can be found on Fiverr as well.
So they couldn’t find one person who used their non-existent China Millionaire software to make thousands?
Testimonials in Members Area: (FAKE)
There are also some pics of people in the members area who are showing off their ‘verified’ trading accounts. These look really legit except for the glossy pictures. They even have links to the verified accounts that you can click on as well as a button for the third party verifier.
Are the people real?
Let’s take a look at John Connolly who has supposedly made over $400,000 on an initial $1000 investment since last month.
I checked the photo using Google’s reverse image search and found that John Connolly isn’t really John Connolly. The photo is a stock photo that can be purchased for use from 123rf.com.
Third Party Verification: (FAKE)
This is a small convincing detail but it’s fake also. They really put a lot into this and covered all their bases.
Click the link above the stats that say “View Verified Results” from a third party verifier and you’re taken to another site called Verified Binary where you can see the same stats in a different format.
However a check with the Whois database for both the Verified Binary and the China Millionaire domain revealed that they may have been registered by the same person. Almost all of the registration details matched and to make matters worse, Verified Binary was only registered this year on March 8th.
Verified Binary is not a real third party verification service so they’re outright lying about everything.
What else are they lying about? How about the fact that you can use their software to “make more money than you can spend”?
It’s not going to happen. I’ve seen enough of these to know the truth.
Is the Chinese government really trying to get China Millionaire shut down to protect the secret of China’s millionaires?
Not a chance. This is just false scarcity to add another layer of believability to their story and to get that $250 out of your hands as fast as possible.
There’s also a countdown timer showing how many spots are left. Every time I reload the page or come back another day, it always seems to go back to 44 spaces left.
China isn’t trying to shut down some binary options promo from a rogue affiliate marketer who they don’t even care about and no matter when you come back to this China Millionaire page, you’ll always be able to get whatever is it they want to give you. They’re not shutting down the site any time soon.
Don’t Mess With Binary Options
Seeing all this going on with China Millionaire, it’s probably the wisest thing to stay away from binary options.
It’s not the way you want to make money online. Binary options is gambling and the only outcome if you stick with it long enough is that you’re going to lose all your money.
Even if you do initially make some money on top of your investment, you’re going to likely have trouble withdrawing your winnings until you’ve made a certain amount of trades – a surefire way to make sure that you don’t leave with anything.
In conclusion, China Millionaire is only making money for the people who created it. Everyone else loses.