investing money management

Is Auto Money Generator a Scam?

There are a lot of different ways to earn money online. Many of them are legitimate. Some are scams. Therefore, it’s always important to do your research before you join up with something new. For example, if you’re thinking about joining Auto Money Generator, then you might want to do your research.

Auto Money Generator No Longer Exists

If you head to the website for Auto Money Generator then you will quickly see that there is no longer anything there. In fact, the domain is for sale.

If you head to YouTube, you will find all of the videos for it are there to expose it as a scam. The original promotional video seems to be missing from the site.

Therefore, Auto Money Generator appears to no longer exist. However, you may still see advertisements for it. Obviously, if there’s no website, it’s probably not a good idea to follow those ads.

What Was Auto Money Generator?

Auto Money Generator was supposed to be a binary options trading tool. This is actually a really intriguing form of trading. The idea is that you guess whether or not the price of a certain asset will be above a certain point at a specific time. If you guess right, you make money.

For example, you might guess that the price of gold will be above X dollars at Y time today. You guess “yes” and the only other option would be “no” which is where the term binary comes from. If you’re right, you make money. Legitimate binary trading in the US has capped risks and profits, so it can be an appealing – and intriguing – trading option.

Auto Money Generator was a software system. It calculated information to help you automatically make such binary trades. It made outrageous claims such as a 92% success rate and daily earnings exceeding $2000.

Is Auto Money Generator a Scam?

Of course, it seems that Auto Money Generator was a scam. That’s probably why its site is no longer up. However, it’s important to research it, because projects like these often pop up again under new names. Here are some of the red flags that made it obvious to many that this is a scam:

  • The supposed founder, Paul Raven, was not known in legitimate binary trading circles. In fact, it was difficult to find out any legitimate information about him at all.
  • It cost a minimum of $250 for an initial investment, so you were taking a big chance just by trying it out.
  • Promotion included strange claims. For example, it said that the video could only be viewed by the first 500 “lucky” people. This is designed to pressure you to act fast. It was never true.
  • People revealed that the testimonials on his site were given by hired Fiverr actors.

Whenever a system claims to earn you ridiculous amounts of money without you having to do much at all, chances are that it’s a scam. When you look for options to make money online, always keep that in mind. And always do your research.

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About the author

Kathryn Vercillo

1 Comment

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