Can you really make money from home with Make Money Robot’s automated system? Is a trading robot the path to financial freedom, happiness, and joy? As you may suspect, there’s more to the story. Keep reading to see the Devil in the details.
Name: Make Money Robot
Website: makemoneyrobot.com
Owners: Cannot be determined.
Price: $250+
Opinion: Not Recommended
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Is Make Money Robot a Scam?
According to their website, Make Money Robot is a cloud-based trading software created in 2013 by three investment gurus, Mike, Felipe, and Paulo. These three gurus are said to be “market-professionals” who manage the accounts of famous people and earn “millions daily” trading in the financial markets.
Make Money Robot claims to have an 80% win rate with 89% accuracy on predictive trades. And, as if to reassure you, the Make Money Robot website states they are registered. Unfortunately, they don’t mention who they are registered with. This omission is a huge red flag.
Make Money Robot Red Flags.
The Make Money Robot website is long on promises and short on specifics.
There are at least three points of concern I have with the Make Money Robot website. The most obvious is that it is poorly written. It reads as if it was written by someone who is not a native English speaker. Some parts of the text are incomprehensible.
Another red flag is the lack of an earning disclaimer. While the narrator of the sales video is careful not to make specific income claims, he does imply you will earn enough money to be financially free. If Make Money Robot is implying you can make money with their system, I expect to see an earning disclaimer to define the legal boundaries of their offer.
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The lack of an earning disclaimer is a strong indicator that Make Money Robot is not legitimate.
Yet a third red flag is that Make Money Robot is not registered with the Securities Exchange Commission. The Make Money Robot website states they are registered but they do not reveal who they are registered with.
Although the Make Money Robot website is filled with statements about trading in the markets. Never does it explain what you will be trading. Will you be trading stocks, commodities, stock options, binary options, forex, precious metals? They don’t say.
Never put money into anything you don’t understand. Clearly, Make Money Robot does not want you to understand what they do.
Make Money Robot is Unregistered.
It is obvious that Make Money Robot is not registered with the SEC. If they were registered with the SEC they could not make income claims as they do. And, they would have detailed disclaimers on their website thoroughly explaining the risks inherent in trading.
According to the SEC definition, Make Money Robot is an unregistered broker. Unregistered brokers do not follow the law or any code of ethics. Unregistered brokers do what they want to do. And, what they want to do is take your money, as much of it as they can get.
The SEC warns that unregistered brokers are suspected of stealing the identity of their clients, manipulating software to create losing trades, locking clients out of their accounts, and keeping their client’s money.
It is ludicrous to call Make Money Robot a broker because it does not broker trades. It only takes people’s money. Money goes in, but it doesn’t come out.
Trading is High Risk.
At best, trading through a legitimate broker is speculative and high risk. If you don’t know what you are doing, and you attempt to trade, you can lose all your money.
A broker that is registered with the SEC is prohibited by law to let someone trade until that person proves they are knowledgeable and capable. If a registered broker permits someone to trade who does not know what they are doing, that broker can lose their securities license.
My point is that with a real broker, trading is risky. And, that’s as good as it gets. If you trade with an unregistered broker, like Make Money Robot, you cannot win.
How the Make Money Robot Scheme Works.
When you join Make Money Robot, an account executive will call you on the phone. Your account executive will help you set up your trading account and guide you through depositing the initial $250 into your account.
Your account executive is not really an account executive. They are nothing more than a telemarketer pretending to help you. Their job is to win your trust and then talk you out of as much money as possible.
In fact, the Make Money Robot sales video is just a story setting you up for the so-called account executive. Remember, money only flows one way with Make Money Robot and it’s not into your pocket.
When you deposit your money into the Make Money Robot account, all you have done is give your money to a stranger in a foreign country. You will not get it back.
However, before you discover that your money is gone forever, the trading software will create the illusion that you are making money.
If you believe you really made money, your “account executive” will attempt to talk you into depositing more money into your account. They may claim that if you deposit more of your money you can make more money faster. They are trying to make you feel greedy, so you will give them more of your money.
When your “account executive” believes they have all the money from you they will get, you will be locked out of your account and they will keep your money. Once they have your money, there is nothing you can do to get it back.
Magic Software and the Tooth Fairy.
Magic software that will make money on autopilot lives in the land of “Make Believe” with the Tooth Fairy and her unicorns. Throwing money into an account and expecting a trading robot to make money for you is not realistic. It won’t happen. If you believe magic software will make money for you on autopilot, you are doomed to lose.
My guess is you are not particularly interested in magic software, you just want to find a legitimate way to make money online. If that’s the case, I can help you. Making money on the internet is a lot like making money anywhere else. It takes know-how and work.
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If you found this article helpful or have experience with Make Money Robot, please leave a comment below. Thank you.
I’m always on the lookout for ways to earn extra money online but I think I’ll steer well clear of this one. Thanks for the warning on the Make Money Robot Scam. It’s a real pity to see that people do Invest in these types of Scams and always lose their money!
I liked when you wrote about the English not being well written on their website. Are there any other ways you can tell you are looking at a scam apart from that?
Thanks, Jeff.
Hi, Jeff!
Yes, Make Money Robot is a real stinker. You can only lose money with it. The biggest clue that an offer is a scam is if they tempt you with claims of making a lot of money. A legitimate offer won’t make such promises. Scams try to make you feel greedy for the pig in a poke they are selling.
Which brings us to another clue an offer is a scam. They won’t tell you the specifics of what they are offering. Instead, they keep telling you about all the money you will make and the big houses you will buy and the fancy cars you will drive. In other words, they focus on selling you a dream of success without giving you any details.
I write about several signs of a scam in my article How to Really Make Money Online and Never Get Scammed.
Thanks for stopping by,
Gary
I have also taken a look at the makemoneyrobot website, which I agree tells you totally nothing. How can they expect people to invest money in such a non-story, yet apparently they make money. You are right to warn people against joining such a lofty enterprise. It is beyond me why people fall for this, as $250 for nothing is a huge amount. I would hope that some persons will find a way of suing these guys. I guess maybe the biggest constraint is finding them!
Hi, Jerry!
I agree. $250 for nothing is a lot to pay. Unfortunately, for many people, that is just the beginning. The folks behind Make Money Robot will try to get as money out of a mark as they can. I would hope they do get sued, but as you mentioned, finding them may be a trick. There’s no telling what rock they are hiding under.
Thanks for stopping by,
Gary
When you closely look at this program it seems to have a lot of aspects that don’t make sense. From your description of this program it seems obvious that it is a scam. And $250 are not a small amount of money to be wasted. Thank you for warning us about another scam and pointing us towards real opportunities online.
Enxhi
Hi, Enxhi!
I agree. The Make Money Robot scheme starts with $250 but will quickly become more expensive if you believe the software works. It doesn’t. Money given to Make Money Robot is money lost.
There are legitimate strategies for making money and sometimes software can be helpful, but this is not the case with Make Money Robot.
If you want to know how to make money online the right way, I recommend you enroll in the Online Entrepreneur Certification Course. The first ten lessons are free.
If you want to know how to properly invest in stocks, I recommend Rule 1 Investing. This is the same investment strategy Warren Buffet uses.
Thanks for stopping by,
Gary
Very interesting post with lots of red flags to think about. I agree that not giving enough earning disclaimer can pose additional safety checks as well as not registered with the Securities Exchange Commission and warn people to think twice before opting in. It’s scary that programme like Make Money Robot are out there and getting away with people’s hard earned money. Thanks for the word of caution.
Ash
Hi, Ash!
For some people the scam potential of Make Money Robot will be obvious, but for someone just starting out it may seem legit. Like so many of these schemes, Make Money Robot tries to make a person feel greedy for the pig in a poke they are selling, greedy enough to plunk down $250. That’s the small scam. It leads to the big scam.
The big scam is when the software makes it appear as if you just made a lot of money. The account executive will try to convince you that if you put more of your money into your account, you’ll make a lot more in return. They might even claim you’ll be rich in 90 days or something to that affect. If you’re hooked, you might fall for it.
Thanks for stopping by,
Gary
On my goodness when will these type of money scams be regulated out of business, it seems I am coming across them every day and some are so plausible.
I worry for those that are retired and looking for additional income, may be tempted into such a program
I would ask the question at some point will this money making scams be regulated?
Hi, Geoff!
I would hope that scams would be regulated off the internet, but I’m not holding my breath. It appears that most of them are not indexed by the search engines. That’s one step in the right direction. Most people find these scams because they either saw an ad or received an email from an affiliate.
Eventually, I hope we people in internet land will learn to spot scams from a safe distance. I think one advantage scammers have is that many people are naive to the evil lurking on the internet. As the internet matures so will the people’s understanding of what to look out for.
Thanks for stopping by,
Gary