Product: China Millionaire
Website: ChinaMillionaire.com
Rating: 1/10
Is China Millionaire a scam?
I do not know where people come up with the names of this type of products nowadays. China does not even have anything to do with online trading on anything of this sort. The answer to whether China Millionaire is a scam or not is going to be a very simple YES.
I have reviewed similar products in the past and they all have the same fluff that they throw into your face. They all follow the same pattern and there is nothing spectacular or unique to this one.
The Sales video
The sales video was at least colourful to say the least but also filled with a lot of false hype. When you have done a couple of reviews around a specific niche, you can easily say whether a product is a scam just by looking at the sales video. Here are a couple of the things that made me chuckle:
1) The Chinese government wants this banned
This people always want to sell you the next big secret to making money online and some are even so bold that they will tell you that you will become a millionaire.
They will always tell you that this program is a secret that was leaked from the government and if the Chinese government wanted to ban this software, then they would have done it a long time ago.
2) Making use of false testimonials
I do not think that these testimonials are even legit. It is so easy to get a gig from Fiverr where an actor will give these types of testimonials for you. When a testimonial is fake, then it means that the product is an outright scam with no foot to stand on.
3) The video claims that you will have a success rate of 99.8% accuracy
This is an outright lie because there is no way that a software can be this accurate and let’s say that it was this accurate, then why would anyone sell it? The is a list softwares that you can get that will increase your accuracy to maybe 60% or maybe 70% and then you will pay BIG money for it.
4) The program is for free
There is another lie that you need to know about. The software might be free and all, but you need to deposit $250 into your brokers account before you can even take a look at the software.
Below I will tell you what China Millionaire is really about.
What is China Millionaire?
This is not an actual product, but only part of a sales funnel that was designed to make the owner of this landing page some money and leave your wallet dry. When you decide to give them your email address, you will be redirected to a page where you have to create a profile with a broker.
In my case I was taken to OptionFM.com which is a binary options trading platform. The thing is that once you deposit the $250 into the brokers account, the owner of this program will earn a commission for each person that deposited into the account.
Why I do not like to trade
I know that a lot of people will hate me for saying this, but I think that I need to explain myself.
- ROI is unstable. Your return on investment will never be stable throughout the whole year because there will be times when the market is stable. The times when you make money with trading is when the value of a stock is moving up or down, but when the moving increments is too small, you will not make money.
- Some days you will not make any money. This is true because there will be days when the market will not fluctuate enough for you to make money.
- Too much risk. No one will ever know whether the value of a stock will go up or down and you can only take calculated risks. There might be programs that will make this easier for you, but there is always the chance that you will lose money.
- It takes a lot of research to evaluate your trade. So many people think that trading is where you sit the whole day and push buttons, but that is far from it. You need to do some fundamental research on the stock or currencies that you want to trade with.
- You really have no business. Another definition of trading is to speculate with money and that is what it is. In the end you have nothing to show for it and only the profit that you made. The only exception is if you use that profit to invest in long term business goals.
- There is no passive income involved. This is the biggest setback for me because if you want to trade for a living, you have to sit in front of your computer screen every minute of the day to analyse the markets carefully in order to make money.
How to build a REAL passive income
To build a passive income online is very possible, but it takes some time to do and a bit of elbow grease. One blueprint I found is by doing affiliate marketing. This is where you sell the products from other companies and then when someone makes a sale, you will earn a commission from it.
In order to do this you need to build websites such as the one you are on right now and create content around the product that you want to promote. If you know what you are doing, then Google will do the rest to bring you some visitors to your website.
If you would like to get started, then you need to take a look at the online business centre that made all of this possible for me.
Oh dear this does sound dodgy! False testimonials, exaggerated expectations and a silly product name!. It’s scared the amount of scams that are out there it really is :-(. It’s so easy to fall for them aswell if you do not fully understand the processes and are a novice like I once was. Luckily I found wealthy affiliate first which so happened to be genuine as I could of easily feel for it if it was a scam. Anyone reading this please now read his wealthy affiliate review and treat yourself to the free trial.
There are so many other “products” such as China Millionaire that are only part of a sales funnel to make money for the guy promoting binary options brokers. I can give you a whole list of these so called products. If the testimonials are false then it is a dead give away.
I agree on the fact that any one can try Wealthy Affiliate for free and there is no strings attach.
Hi Viljoen, loved your review. I watched the sales video for China millionare. It is always a red flag for me when there a count down letting me know how close I am to missing out. Not to mention that theirs counts down to zero then starts over. Great review, have a wonderful day.
Hi James
Thanks for your comment. These countdown timers are a slick way into getting someone to do a specific action. I really hate it because this does not give you enough time to do some research on the product itself.
I like the theme you used for your site and the way you have it organized. I read most of your reviews, I didn’t realize there were so many MLM’s out there now. Your review on China Millionaire prompted me to watch the introduction video. It was like visiting the improv, silly enough to be funny at times. The real red flag is the count down going on while you watch. The old “your about to miss out ploy” Love your site, you should add some social buttons so we can share. Have a great day.
It is just crazy to see how far people will go to sell something. What has happened with the idea of helping people to succeed. There are social buttons on the left sidebar if you want to share 🙂
Hi there,
Thanks to sharing this information. I was doing some research about China Millionaire and after reading your article, this program will certainly added to my blacklist 🙂
I’m surprised that they will bring you to a binary trading site. I’m not a fan of that system, mostly because what you’ve listed above.
I will check your other recommendation then 🙂
I would steer as far away as I could from China Millionaire as they are not legit. They are also on my blacklist and will not touch it with a stick.
The review you have here is very accurate I have seen these scams personally and they do want you to fund your account first with $250.00 before you can do anything what a joke, but people fall for these scams all the time People want money fast there is no fast way online without work. I see you help people to succeed online I don’t have the time to read thru your info can you get me more detailed info and get back to me.
China Millionaire is another one of the several on the internet selling binary option platforms. I agree that if the chinese government wanted it ban it would not be online. You done a good job of telling how this scam works, maybe nobody else will fall for it. I like the way you are bring people to Wealthy Affiliate, where they will get a fair shake.
The best part is also that you can try Wealthy Affiliate for free and there is really no risk in trying them out. China Millionaire wants to give people the impression that they have discovered the secret to make money with online trading which is not the case.
I like your review here I have been personally seen these scams online and they do ask to fund your account up front what a joke. I see you help train people to succeed online, I’m out of time right now can you give me more detailed info? and get back to me thank.
The first thing that you can do is to get the free starter membership at Wealthy Affiliate. Follow the training in classroom 1 and you can always contact me when you get stuck.
Would like to help 🙂
Yeah I’ve heard quite a bit about this opportuntiy recently – not all of it good! A simple search through Google for “China Millionaire†leads to many positive reviews – this is a tactic many dodgy affiliates use to promote their own product. The reviews even rank higher than the official website itself – not a good sign!
Wow, great review man! The moment I saw that it say that your chances of success was 99.8% I knew it was too good to be true. Also, fake testimonials are really a way to just crush people’s trust after them finding out about it.
You’re definitely right about them earning a commission after people deposit money in their account. I have heard way too many stories of such things, and people eventually losing all their money that they put into the program. Sometimes, things are really too good to be true!
Agree. Today it is so much easier to create your own product and a lot of “trolls” see this as an opportunity to scam other people.
More than 80% of all make money online products are scams.