I came across Online Wealth Markets when I saw a newspaper article about a ‘teenager’ from my home town, who was earning $6470 a month. Strange to see this kind of statement in such a format. Perhaps It’s true. And if a boy from my home town can do it, then so can I.
Well that is what you are supposed to think.
But knowing what I do about online programs, I decided to look into this one further and that is what this Online Wealth Markets Review is all about. I wanted to find out for myself whether this was something worthwhile or whether they nearly got me!
Product Name: Online Wealth Markets
Website URL: www.onlinewealthmarkets.com
Cost: Access costs $4.95, and then minimum payment to start is $250
My Rating: 2 out of 5
My Recommendation: Online Wealth Markets is all about Binary Options Trading which is a risky business to get into. It could be for you, but it depends what you are looking for. If you want a way to build a risk free profitable online business, read my top recommendation.
What is Online Wealth Markets?
So what is online Wealth Markets?
It’s a binary options training program which allows you to start trading on the stock exchange. Sounds scary?
Binary options trading is fast becoming a really popular home business and is becoming more and more accessible to the everyday person. It is no longer a Wall Street traders perogative. But it can be VERY risky.
What Online Wealth Markets does is that it provides tools and training to teach you how to trade with binary options, so they say
What are binary options?
If you know the answer to this already, then just skip over to the next section.
I will go over this really simply, but if you want to know more have a look at this article.
Binary options have exploded as online business, but essentially they are gambling with promises of huge payouts. Forbes would agree. Tempting for those who are looking to get rick quick, if there is such a thing. If you have found it, I would love to know. 😉
How it works is that there are only two options from Trading: All OR nothing.
Perhaps an example would make things clearer:
If you buy an option worth $50 with a payoff of $500, then if the stock is trading below $50 at the maturity date (ie the end of the term of the option), then you receive nothing. If the stock is trading above $50 then you receive the $500. So you are betting on the direction that the market will go, will it go up or down? That’s it simply put.
What you get with Online Wealth Markets?
Within the package when you sign up you get ‘everything you need to succeed’
You can see below what you get when you sign up.
Sounds pretty straightforward? Are you tempted?
That’s not it, it becomes a bit more dubious as you go further into the program, read on..
How much does it cost?
To access the program, you need to pay a small fee. It starts off at $4.95, then goes to $1.95 if you try to leave the page. Once you are in.. they ‘recommend’ that you start off with $250 as a minimum ‘bet’. This is standard for any broker.
What is the process
What has thrown me off about this business is the two ways in which you can approach it online.
Both ways provide two totally different experiences and levels of information but both lead to the same end point – I don’t understand why they have employed the second way to be honest. All it does it make the business look scammy.
If you go direct using the url www.onlinewealthmarkets.com you go to landing page 1 (on the left).
If you link through an advert or promotion you go to landing page 2 (right)
Landing page 1
You see if you access through the first page, you get all the details about what this program is about. It tells you it’s about binary trading, tells you everything you get for the program, that you enter at your own risk. This website appears much more upfront and legitimatee. BUT, If you click get started, then you get taken to landing page 2, which destroys any belief you may have had:
Landing page 2
If you have been given this information through a link or any other newspaper advert, you get landing page 2, which is much more akin to an online scam. It is an incredibly similar landing page, in look and content to other online scam programs I have seen such as At Home Income Package and Online Success Plan. Let me tell you, that’s not a good look.
The way this second landing page is positioned is that it is trying to get you to think you are signing up for a job. And that you must hurry because there are limited spots. What we know already about binary options, is that ‘spot’s are not relevant for binary trading.
It’s very misleading, and makes me start to worry! This second landing page is a complete turn of.. If you entered this way, you are given NO information about the program, only how successful people have been. This shouts SCAM, whereas the landing page 2 doesn’t.
If you have entered via this page you never get to see that first page, which tells you what you need to know. I can’t work out why.
Slightly worrying as well, is that they ask for your phone number.
I am always really wary about giving out my phone number these days, having had experience before of that number spreading like wildfire.
You can find that years later still receiving calls from unapproved third parties who have been ‘shared’ your number.
If you try to leave the page, they employ another tactic that you commonly see in this kind of ‘business’. The ‘don’t leave this page and we will give you a discount’.
Yes there is a countdown clock, which is there to drive an impulse purchase and the cost has come down to $4.95. And guess what, if you try to leave again, you get it for $1.95. I wonder when they will start paying ME!
They don’t seem to want to tell you what the business is until you pay them. Very shady!
How does Online Wealth Markets make money?
Well they obviously get a whopping $1.95 or $4.95 from when you sign up to access the system. I don’t know why they don’t make it free access for such a small sum.
But, as I mentioned in the beginning, your minimum deposit for trading is $250. They use a broker called Banc De Binary and get a commission off this of $250 and any further trading charges.
When you use their software to trade, they make a commission from you, whether you win or lose.
So what about the story of the teenager?
So the story of the boy in my area is a very clever marketing trick. It took me a while to work it out.
When you see one of these ads, and it mentions specifically your area, it can be quite engaging. I know it got me. So how does it work? They use a clever filter to identify your IP address and therefore location and filter in words that are carefully selected to tailor it to you.
How do I know this? Well I copied the link which lead me to that page. It was HUGE. Not only was there a referral link in there, but you could see that it has especially identified my location, fed it through the url so that only that specific content appears in the article that I see.
Clever but very sneaky, and therefore the story is fake. I am liking this program less and less.
- Yes it is possible to make money with this type of business, and lots of people do.
- The training course looks ok, to help you get started. It’s quite a simple business but quite daunting to enter so the security of a training course is something to consider.
- The software and what is included looks like it would be a good place to start if you think that Binary Options is something you might be interested in.
- But it is possible to lose a lot of money this business too. Many have. You don’t hear those stories.
- It’s essentially like gambling, and can become very addictive. There are stories out there of people operating in binary options who have got themselves into serious debt.
- $250 is quite a large outlay to start your business. There are some online businesses that you can start for FREE.
- THe site and the way the business is set up from Landing page 2, is very dubious, and they have lost my trust with this route. It’s unnecessary, just be upfront!
If you are interested in the business be VERY CAREFUL.
I do not recommend binary options as a way to make money as it is essentially gambling, and can get you into some serious trouble. There is no real skill involved and success in your business will be down to luck. – I hope this Online Wealth Markets Review has helped you see that.
In addition, I don’t feel like we are getting the whole picture with Online Wealth Markets. If they stuck with landing page 1 and followed through with a sign up form, I would be a lot happier, but the use of the scammy work from home intro page, countdown clock etc, make me trust them a lot less, and I don’t know about you, but if I were entering the world of option trading, trust is one of the key things I would be looking for! It’s a scary world!
I would rather build a business which was based on skill. I would want to build something that has dependability and longevity and eventually becomes a passive income. I couldn’t live on my toes like that knowing I could have a great day one day and a terrible day the next. I want them all to be great days.
If this sounds more up your street, try my no 1 recommendation for building a long term incredibly profitable business that lasts!