Name: The Millionaire in PJs (No relation)
Price: Free (to sign up), $250 MINIMUM investment before you can start “trading”
Owners: David Williams
I first stumbled upon The Millionaire in PJs by accident. Given that our websites have similar names, I ranked on the SERPs (Search Engine Result Pages) for this keyword without ever having written a review. Normally I don’t write reviews for binary options systems (because I write reviews for programs that are designed to teach people how to EARN money online, not WIN money online), but with a name like The Millionaire in PJs, how could I resist?
Will this software make you a millionaire?
I decided to find out for myself! This Millionaire in PJs review is the result of my findings. Read on!
To Begin With…
You may be wondering what I meant when I said that trading binary options is a way to WIN money as opposed to EARN money.
Well, unlike trading traditional stock options (where you purchase low and sell high), trading binary options is just a matter of betting whether a stock will go up or down in value (this process is called “calling” or “putting”). You have a 50/50 chance to win each bet, and you will usually know the outcome within a minute.
No matter how you slice it, this is GAMBLING.
In fact, take a look at what “The Millionaire in PJs” has on their earnings disclaimer:
I couldn’t have said it better myself. What’s frustrating to me is the fact that this is the only area of the website that I saw the word “gambling” mentioned.
Sure, for me (and for a lot of you) it is pretty obvious that this is gambling. However, this “system,” as well as countless others within the Binary Options industry, preys on people that are seeking “overnight success.”
Overnight success does not exist. If you want to earn money safely, then you are going to have to work hard!
It’s a tough lesson to learn and those that refuse to believe it are the ones that fall victim to marketing tactics like this:
Adding countdown timers to a sign up form forces people to act quickly and signup without performing their due diligence. Don’t worry though, you can just refresh the page to restart the timer. There will always be room available, the marketers here are just trying to sell you with the “exclusivity” factor.
The fact is, this “program” is just taking advantage of people that are sold on the dream of making millions without working for it. The name itself suggests that it is easy and safe to make money online, but this is false advertising.
How I Suspect “The Millionaire in PJs” Really Works…
This program is hardly a ground breaking concept. They don’t have a problem giving their software away for free because they lead you to a broker that they are affiliated with. You have to make an initial investment of $250 (minimum) with this broker before you can begin betting. The Millionaire in PJs likely collects commission from referring you to this broker.
If you win bets that you’ve placed with the broker, you will collect around 85% of the earnings (the other 15% going to the broker and in some cases the person that referred you). If you lose a bet, you lose 100% of your money (some brokers offer a small percentage back to encourage you to keep gambling).
The fact is the Binary Options industry is largely unregulated, and 75% of brokers are fraudulent.
What about the software that automates the process of calling or putting?
The Magical Software
The Millionaire in PJs claims that it’s software will automatically bet for you and it will when you huge amounts of money.
Doesn’t that sound too good to be true?
That’s because it is. Think about it. If software existed that could predict when a particular stock’s value would rise or fall, do you think it would be given away for free?
Of course it wouldn’t.
If a piece of software could predict this change in value, than it would make it’s owner filthy rich and they would not be giving their recipe for success away. In fact, if everybody had access to software that could predict change in a stock’s value, the stock market would crash.
Everyone would be trying to buy and sell at the same exact moments. The market would not hold up, and the value in all stock would plummet.
The fact is, this software may place bets for you, but it is still just flipping a coin. It has a 50/50 chance to make you some money, or lose everything.
The Final Word…
The Millionaire in PJs is a scam. They sell consumers on the dream of making big money at the push of a button and, unless you read their disclaimer carefully, they never explain to you just how risky this process is. While selling you on this dream, they sit back and collect commission on your brokerage fees.
This is an extreme gamble, but if you want to go for it, don’t say I didn’t warn you! If you can locate a legitimate broker, than you can make money. Just be careful about how much you are willing to gamble and who you trust your money with.
Looking for a Safer way to Make Money Online?
I make a full-time income working from home through a process called affiliate marketing. It allows me to promote products without having to sell them myself. There are many places that promise to teach you how to do this, but my #1 recommendation is by far the best.
It’s a community of like minded entrepreneurs that are always willing to help beginners to the industry. It’s also free to signup and take a look around for yourself. Do me a favor? Read my full review here. It will only take you a moment but it may the moment that completely turns your life around.
Do you have any personal experience with The Millionaire in PJs or trading Binary Options? I’d love to hear from you! Leave me a comment below!