Falling victim to a scam is one of the things anyone searching for money making opportunities online will experience.
There are so many scams and bad information out there right now it’s almost inevitable. These swindlers are giving a bad name to a legitimate industry by targeting newbies.
But you could avoid being a victim by looking out for two popular scams. These two ways to cheat unsuspecting folks make up for about 90% of the scams aimed at the “make money online” crowd.
There’s even an entire network called Clicksure that is dedicated to putting out these scams by supporting the fraudsters who are looking to dip into your bank accounts.
I just checked on Clicksure and out of the top 10, every one of the products fall into either of the two categories I’m going to talk about. There’s also a calendar that shows upcoming launches and almost all of the products schedules to come out in September are either of these two popular scams.
Binary Options Trading Scams
There are so many of these offers out there right now, it’s hard to keep track of them. And there are more scheduled to come out.
These types of offers are hot for a reason. People are falling for them.
Binary options trading scams are characterized by the outrageous income claims – thousands of dollars in the next 24 hours with no experience and even hundreds of thousands to millions within months.
Videos with flashy cars, yachts, private jets and mansions are usually shown to try to convince you that these guys live that lifestyle but they’re usually rented in the case of the mansions and cars or stock photographs in the case of the jets and yachts.
If you’re struggling in life financially and are looking towards the internet for help then it’s hard not to imagine getting out of debt within a short space of time. Especially if you don’t have to do much or have any previous experience.
The scammers make it easy for you to make a decision by pushing all the right buttons:
- They say you don’t need experience
- it’s free of cost
- you’re guaranteed to earn tens of thousands by next week
- that you’re personally invited and the offer isn’t available to the public
- and a lot of other stuff that’s easy to believe
The truth about binary options trading is that this is more of a way to lose money online than to make it. You’re not likely to make thousands at all because the system isn’t set up for you to win.
Can you flip a coin and guess 100% of the time whether you’re heads or tails? If yes then binary options trading might just be for you.
And if that sounds like gambling, you’re absolutely right because that’s exactly what it is.
How it Works
The way it works is you deposit an initial amount of about $200 – $250 at a broker. This initial amount lets you make your first “trade”.
You can then bid on any of the assets whether it will go up or down within a specified time frame. If you guess correctly then you win the trade or you lose if you guess incorrectly.
The reason these offers are so wildly popular is because the scammer has already set up a deal to get a percentage or fixed amount when you deposit the initial $25o. This is why they’re able to let you get started for free. As soon as you make the deposit, they get credited with whatever the agreed commission was and you’re on your way to losing money and being disappointed.
Examples of Binary Options Scams
I haven’t reviewed many of these on this blog before because I absolutely hate reviewing them. One that I’ve reviewed is Profit Partners where the creator of the program use a lot of shady advertising, outright lies and even identity theft to convince people that this was their ticket to freedom.
There are more current ones like:
- 2014 Millionaire (I’m doing a review of this soon)
- Insured Profits
- Profit Prophecy
- Million Dollar Dream
- Private Wealth Circle
All five of these are currently on Clicksure’s top 10 which means there are lots and lots of people joining these programs every day. Lots and lots of people who are going to lose their hard earned money.
Web Hosting/Free Website Scams
The other popular type of scam you can easily avoid is the web hosting or “free website” scam.
My last three reviews all fell into this category. You can check out:
Again, you’ll see a lot of the rich lifestyle being played out in an effort to get you to “dream”. The scammers would also show you a lot of fake bank account screenshots and have fake testimonials trying to convince you that they make tens of thousands of dollars overnight.
There will usually be a story about how the creator (usually an actor) is trying to help you out with his secret system and you’ll get his system for free.
Just like with binary options, the scammer is being paid a high commission for each user who purchases a hosting account from the web host he’s affiliate with. Web hosting companies usually pay out anywhere from $50 – $200 for each user that buy’s a hosting account.
Problem is that you’re going to have to enter into a contract of no less than 6 months for overpriced web hosting. The plans usually range from $90 – $350 and you’ll see names like Cloud Pro Hosting and Coolhandle.
Why You Wouldn’t Make Money
Ignore all the talk about the system being revolutionary and that they’ll do all the work for you. No one is going to do all the hard work for you and allow you to profit.
The biggest reason though, why you won’t make money is that having a website or web hosting is not the first step to making money online.
The first step to making money online is choosing a niche market. You need to do this before you even decide on a domain name for your website. If the gurus don’t tell you this then you’re being led astray.
This shows that the scammers are only interested in one thing only – separating you from your hard-earned money.
How To Get Started Without Getting Scammed
There are legit ways to make money online and there are legit programs to teach you how to do so.
Although it’s not the only way to make money online, I enjoy telling people about affiliate marketing because this is what I currently do. Affiliate marketing allowed me to quit my job so that I could make money online full time.
There are lots of programs online that can teach you how to make money with affiliate marketing but some of them will give you useless and outdated information. Some won’t give you support when you need to get an answer to questions that you need answered. Others will want you to spend money on upgrades that you just don’t need so that the owners can make money money.
One thing about scams is that they don’t last very long. They launch today and six months from now, after word gets out, the scammer ditches it and launches something else.
When I heard about affiliate marketing about 9 years ago, the membership site that I eventually found a year and a half later was being launched. They’ve come a long way, from offering keyword lists to now being an all inclusive educational platform meaning they have everything you need to learn how to build an online business with affiliate marketing.
If you want to learn how to make money online without getting scammed, then the best place for you to start is Wealthy Affiliate. You can start for free and have access to:
- free lessons
- free webhosting
- two free websites to practice on
- support from a huge and helpful community from all over the world
- one on one support via chat
- premium training (advanced methods)
- personal help from me
- and more
There are also community rules and guidelines to protect Wealthy Affiliate members from scams. Try it out for free and let me know in the comments if you’ve ever been scammed by any programs that fall into either of these categories.