Is the Profit Magnet System a Scam or is it Legit? Well, on research, we have found no proof in favour of Profit Magnet. It appears to be yet another Scam. Profit Magnet claims to be able to make you $1k a day, every day, for as long as you use the system. These claims are unrealistic and just help add to the argument that Profit Magnet is a Scam.
Profit Magnet is relatively new to the market and is basically a binary options robot with a poor efficiency rating. You will struggle to find any positive views on the system. It, like many other pieces of trading software, claims to be totally free, despite the fact that you have to make an initial minimum deposit of $200 before you can start trading with your βfreeβ account.
The opening video to Profit Magnet lasts for a not so riveting thirty minutes and explains how their software will make you a millionaire. The only people that will get rich from this system are the owners of Profit Magnet. There is no legitimate proof that anyone has made money from this trading robot, despite the alleged posts taken from Facebook that they have used as testimonials on their site.
Profit Magnet delivers binary options signals and automated trading to its users; this was pretty much all the information we could find on how the system works. They also claim that those using the manual trading options will see profit of around 97.5% – totally unrealistic, a Scam! The system is apparently only offered to the first twenty people to sign up each day; this is just a pitch to try and get you to sign up under false pretences.
If you check out the names behind Profit Magnet, you will find that there is no substantial information about their identities or their creditability. Also, we cannot find any evidence of anyone having made a successful withdrawal from Profit Magnet, thus enforcing our thoughts that this is a Scam.
The site itself seems very cluttered and doesnβt seem to offer many trading options β seemingly just a couple on each platform.
All in all, I would strongly advise anybody interested in trading to steer well clear of Profit Magnet and use more trusted and reliable software such as Citidel.