Well to my review of My Cash Bot (no, not MY Cash Bot – that’s it’s name!). This is one of the latest pieces of software to popup on the web that claims it can make us rich. In fact it claims that 223 average people that used the system made around $1,857.93 per day for 90 days…. Question is, is it true?
I’m going to dive right in & say nope, I highly doubt it. It looks to me like My Cash Bot is just another free piece of binary options software that promises the world but delivers nothing. Now I don’t want to slam this software straight from the start without anything to back up my claims so let’s take a proper look…
Firstly it has my main red flag & that is the “pressure purchase”. When you first land on the website the box on the right tells you that there’s only 27 licenses available but it quickly begins counting down after you’ve spent a bit of time on the page. Generally companies use this tactic to try and pressure you into entering your details without taking time to look around the web for reviews. Often it’s because they’ll know you’ll find bad reviews, so as soon as I see that I’m always skeptical. Then again some genuine companies do use this too so we won’t rule it out as a scam just yet…
Generally those counters reset when you refresh the page but these guys have put some thought into it & it actually stays the same even when you refresh (though I highly doubt it’ll ever hit 0!). I’m down to 16 at the moment and I’ve noticed it’s already got an awful lot slower.
Anyway, I’ll stop fixating on the stupid countdown & actually look into it a bit further.
I have to say after scrolling down the page it certainly does look very convincing, especially the “members profits in real time” section. If I wasn’t too experienced with this kind of stuff & I came across this then I have to admit it’d probably convince me too.
I decided to search the web myself for some reviews and that’s when I came across this:
This site and the chosen Broker are under serious investigation in Australia
Avoid this offer
How true that is I’ve no idea but it certainly sounds very alarming.
I decided to try it out…
I went ahead and signed up to My Cash Bot to see what happens, here’s the deal…
Although this software is apparently free, after entering your name and email you’re then taken to another page which asks for your name and email again but this time also a phone number. Once you’ve submitted those, guess what, you’re asked for your card details to make a deposit with the broker they “recommend”.
I’m not sure what their recommendation is based on, but I assume it’s probably the one that pays them the biggest commission.
After that I decided not to go any further, I wasn’t going to go ahead & enter my card details because I know how these things work.
Think about it…
If these systems really worked then the brokers would be out of business. How could a broker possibly afford to be paying out on every trade? They just couldn’t & they’d either close your account sharpish or end up going bankrupt. These companies aren’t daft, if you were using some “system” to cheat the trades then they’d get wise pretty quickly & probably end up taking legal action against you leaving you with less than you initially started out with.
Aside from that the majority of these free binary options systems are actually set up by the brokers themselves as a way to make extra money. Not all of them are, but think about it – if they give you a “system” that’s said to work then you’re much more likely to deposit aren’t you? It’s going to work out in their favor once you’ve lost your money and discovered the system doesn’t actually work.
If those reasons weren’t already good enough then ask yourself why they’re giving it away for free? Who on earth would create a piece of software that generates people over $1,000 per day with no effort and give it out for free? Who would even sell it? You’d just keep it to yourself and make an awful lot of cash!
There are systems out there that work & are proven to make money don’t get me wrong, but these systems require at least a little bit of work on your behalf. Any system that claims it can make you money without you having to do anything is just full of BS.
I’ve come across literally hundreds of different pieces of so called binary option “systems” that claim they can make you rich but I’ve yet to see one live up to it’s claims. The truth is binary options is as good as walking into a betting shop & putting your money on the roulette. You might make some money, but you’ll eventually end up losing it – it’s nothing but a gamble.
You’re basically just betting on the direction of trades, so for example you might bet that in the next 60 seconds the trade will have gone up or down. If you’re right, you win but if you’re wrong guess what…. you lose.
The craziest thing is that the majority of these systems claim they can make you millions yet there are professional hedge fund managers that manage investments into the billions that don’t make this kind of money. So they’ve been in the game for years, have billions in investments & a free system is going to help you make more than them…. unlikely!
My advice would be to avoid this software, and avoid any other piece of software like it. They do nothing other than attempt to sell you a dream & hope you buy in. Nobodies going to be profiting from this program other than it’s owners and it’s affiliates.
Hopefully you’ve read this review before you went ahead and signed up for the system, but if you’ve gone ahead & tried it then stumbled across this afterwards then I’d love to know your thoughts. In fact if you leave a comment below it’d be really appreciated because it’d not only help me but it’d also help others who might also be considering getting this “free” software.
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