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Is Auto Money Machines a Scam? – Yes It is

April 23, 2016 4 Comments

Auto-Money- Machines-logo

 

Product name: Auto Money Machines

Product owners: Spencer Goods

Website: automoneymachines.com

Price: Free to join + requires investment

Overall rank: 10 out of 100

Verdict: Scam

 

Auto Money Machines is a relatively new program that has been launched quite recently and caused a lot of buzz on the internet.

Like any other binary options program it claims to be different from all other programs and success is guaranteed.

Pretty standard claim when it comes to a binary trading business to be honest. The creator of this program is Spencer Goods and he promises that you can make $250.000 per month with his software because it was designed to help people like you make money with little to no effort on your part.

 

promise

 

To be honest, I’ve seen many programs like this one with even bigger claims, but most of them were taken down by their creators themselves.

From this we must understand that if you come across a program that guarantees you a certain amount of money in x days or weeks you should immediately run away from this program.

Believe me, if you do so, you will be saved from wasting your hard earned money. In short, if you ask me if Auto Money Machines is a scam, my answer would be Yes, it’s a scam and in my review I’m going to prove it.

 

The main idea behind Auto Money Machines

There is no secret here. It’s pretty clear that Auto Money Machines program by Spencer Good was designed to help you make lots of money through trading binary options which means you invest your hard earned money and start trading in the hope to make the right prediction of how currency pair will move, up or down and then place your bid.

If your decision is right you can make money and if not then you lose all your invested money. And you must win 50% of the time in order to be profitable.

But it’s extremely difficult because of the market fluctuations. That’s pretty much what you are going to do when you decide to enter this type of business.

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Pros of Auto Money Machines

  • Free to join

 

Cons of Auto Money Machines

  • It’s not actually free
  • Investment required – $200 is the minimum
  • Unrealistic promises
  • The site is no longer working
  • No money back guarantee

 

Auto Money Machines

First off I want you to know that the idea of making money on autopilot is very popular on the internet and it looks like everyone is looking for such a program.

I recommend you to not waste your time trying to find such a program because you will waste your time and energy in the wrong direction. You will end up either completely frustrated at best or wasting your money at worst.

Making money through binary options programs is not recommended because in this case you rely on the software instead of your knowledge and experience.

For example, if you want to learn how to trade currencies at Forex, it’s a much better opportunity because many people are actually making money at Forex. But many are losing money too. Anyway, Forex is legit.

When it comes to internet based binary options programs, the situation is much different. There are too many programs in this industry and they all promise and even guarantee folks huge profits in a short space of time. Almost all of them use fake testimonials from so called “happy” users.

 

fake-testimonials

 

Almost all these programs claim that they are not the next useless piece of software in line. But if you do some research, you will realize that almost all these programs are either complete scams or borderline scams.

If you come across a positive review, not always, but most of the time it comes from the affiliate who tries to earn a commission by promoting the same software.

Spencer Good claims that his Auto Money Machines program is unique and can help you trade binary options with 99.9% accuracy. This is simply not true.

 

spencer

 

Like I said before, all these programs promise close to 90% accuracy and yet there are a lot of complaints about them.

If they can guarantee such an accuracy why then they use fake testimonials? The answer is obvious. They are lying to people.

 

Is 99% accuracy really possible?

When it comes to binary options programs, you have no much control over the software because it does all the work behind the scenes. It does all the work and provides you the signals that you have to choose. You choose and you win.

 

Auto-Money-Machine-trading

 

This is what they promise, but they don’t deliver on their promises. You need to invest at least $200 in order to start trading though Spencer claims that his program is free.

It’s not actually free at all. And the worst thing about this type of business is that you can’t get your money back once you’ve invested into the program.

In their privacy policy they clearly tell that this business involves a high level of risk and they are not responsible for your financial loss.

This proves once again that all their talks about 99% accuracy and huge profits are empty words. I’m not saying that you can’t make money through binary options. Some people are making money.

You can too if you can find the right program that is reliable and links you to a trusted binary platform and trusted broker. It requires additional research. Never invest your hard earned money until you make sure that the program you found was trusted.

And even if you find such a program, there is always a high level of risk of losing money. People that are making money with binary options are not making money 24 hours a day.

Sometimes they make, sometimes they lose. Some people lose everything on binary options and even their pants. This business is very risky. A friend of mine have been trading currencies at Forex for a few years now and still he can’t make even $500 per month.

Most of the time he loses and in fact he lost thousands of dollars in this business. You decide if this business is for you or not. I personally don’t like this type of business.

 

How Auto Money Machines works

I’ve done some research and it looks like Auto Money Machines system is based on Spot Options platform. This platform is new and I’m not really sure if it’s trusted or reliable.

Auto Money Machines is called by many so called experts as your Auto Trader and I think it sounds very ridiculous. After creating your free account, it will be linked to your broker that this system will assign for you.

 

Auto-Money-Machine-members-area

 

Since these programs are internet based you have no any control over those brokers. Most of the time these brokers have no license and don’t follow any regulations. One of the reasons is because they hide their huge profits due to taxes.

To find out if the broker is trusted or not is difficult. Moreover, some official organizations help us understand what internet based binary options programs are all about and you must be careful.

 

binary-info

 

One thing you must keep in mind that before investing your hard earned money into a binary options program you must learn how to trade binary options from a reliable source. Without a proper education in this field you will never achieve success.

 

What happened to Auto Money Machines?

I came across some websites that claim that people who have used Auto Money Machines are very happy with the results. Some of them invested $250 and earned over $8.000, others invested $250 and made $25.000.

 

Auto-Money-Machine-result2

 

It’s reported that people on average have 70% success using Spencer’s program. All I can say this is not true and here is why. I checked Spencer’s website www.automoneymachines.com and got this message. Look, his website is no longer working!!! What does it mean?

 

site-shut-down

 

It means that all those talks about Auto Money Machines being a super unique Auto Trader software are simply empty words. If Spencer’s software is so cool and can help you turn your $250 into $25.000 then this guy is a superman.

What happened to his website then? It becomes pretty clear that it was taken down because people started to lose money and Spencer had to take his “amazing” system down.

Do you need any other proof other than this? And believe me, it happens all the time. Most of the binary programs I’ve reviewed to date are no longer working.

You can find more reviews on binary options programs on my website http://yourincomeadvisor.com/binary-options-scam-my-realistic-take-on-binary-options/

 

Support

It used to offer support via email and Skype which was great. But support is no longer available because the site is no longer working.

 

Screen Shot 2016-04-23 at 12.23.30

 

Withdrawal problems

Another major problem that is very common to internet based binary options programs is that people invest their money, make some profit and then can’t withdraw their money. That’s a huge problem. And it happens because like I said above, most of the brokers these programs link you to don’t follow any regulations.

 

Final word on Auto Money Machines

Remember that most of the time people lose money on long term trades when they invest large amounts of money. It’s very risky. I personally never recommend to enter such a risky business.

But if you plan, like I said, do some serious research and never invest money until you make sure that the program is trusted and reliable and has a lot of real positive testimonials.

Make sure that it’s partnered with a trusted and reliable binary trading platform. Make sure that your broker has a good track record.

Get trained in the right binary trading program and learn how to trade properly. If you do so, you can achieve a certain level of success.

But remember that this opportunity involves profits and losses. You can’t be always a winner. I don’t know if you will be a winner or a complete loser in the end.

Many people lose everything in this business. When it comes to Auto Money Machines, I think it’s a scam because the site is no longer working.

 

Final glance at Auto Money Machines

  • It’s not actually free
  • Investment required – $200 is the minimum
  • Unrealistic promises
  • The site is no longer working
  • No money back guarantee
  • Overall rank: 10 out of 100
  • Verdict: Scam

 

Tired of programs like Auto Money Machines? Here is my top recommended program. It’s free to try.

 

Filed in: Product Review

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Comments (4)

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  1. wunderkindonsulting says:

    It can be extremely difficult to decipher whether a lot of the products found online are here to truly help you earn income, or to simply take your hard earned money. To be honest, I am quite weary of anything that claims to help you make money with little time or effort. It appears that you came to the same conclusion from your assessment of Auto Money Machines. I agree the fact that the site no longer exists points to a problem. All in all, it seems that from the results you came across, that it truly is a form of gambling. As long as people are aware of what they are getting into.

    • Rufat says:

      I think you’re right. Most of the products are trying to take your money instead of helping you. Auto Money Machines is definitely a program that claims you can make millions with little to no effort which is absolutely laughable. And of course since their website is no longer exists points to Auto Money Machines’ having a serious problem. I think I explained all major points to look into before investing money into a binary program.

  2. Amy says:

    Very nice site! You certainly presented very thorough information on why to avoid Auto Money Machines and why making money through binary options should be approached with caution. I like all of the images- helps break up the text and give great visuals of what you’re talking about. I probably would have put the comparison between AMM and WA until the very end-it kind of felt out of place, made me think you were done talking about AMM when you still had a lot more to go. Still, very good job!

    • Rufat says:

      I’m glad you understand my point here. Making money through trading binary options is possible, but it requires certain skills and knowledge. Anyway, it’s still risky and wouldn’t recommend it if you don’t have free money you can afford to lose. It would be better to invest your money into something worthwhile and less risky.

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