Push Money App Review
When binary options first came into the scene, it was a shining example of how technology could make everything so much simpler and easier. Binary options took all the complexities of stock and commodities trading and reduced it to a question with just 2 possible answers. Which direction will the stock price go, up or down? This makes it possible for you to make money by being correct most of the time.
And that’s the problem. It’s not actually easy to be right most of the time. And you can’t even be right only half the time, since winning doesn’t pay as much as what you lose. If you invest $25 and you get it wrong, you lose $25. But if you get it right, you only get back $20. The trading platform takes a $5 cut.
That’s where the Push Money App comes in. This program automatically computes the best trades and calls for you so that you should be right more often than you’re wrong. But does it work? Well, there’s a problem with that.
Upon first glance, the site doesn’t really give you a lot of information. There’s a video that automatically plays, telling you all about the software. Then there’s a signup form where you need to give your name and email address before you can proceed any further.
There’s nothing else here. There’s no explanation of how their program works, and no demo program you can check out. Usually a demo program is available so you can test it out. But there’s none here.
Any disputes arising out of or related to the Agreement shall be governed by and construed in accordance with the laws of Estonia (without regard to conflict of law principles).
Estonia? What’s that all about?
Marketing Red Flags
The problem with the video and the website in general is that it comes with lots of red flags that tend to give you warnings about not being scammed.
- You can make use of the site by “invitation” only. However, it does seem like everyone’s invited. However, when you sign up you do get a personal invitation to join and deposit money for your account.
- The video guy promises that you can get a $1,000 check. But that only happens when you also deposit $1,000 into your account. You can get this matching bonus of up to $10,000. But you can’t just take the bonus and then withdraw the entire balance. These come with conditions, which makes it very hard for you to take your money back.
- The dates on the checks don’t quite add up. For example, there’s a check for “Pamela Reid” for $45,091.72 and it’s dated “12/4/15”. There’s another check for Jack Harwick on the same date for $129,912.21. It sure was a busy day. But Push Money App was registered only on January 9, 2016.
- The program was developed by Dennis Moreland and Mike Callahan. They claim to have a successful trading history, and that they’ve already paid out lots of money to some beta testers. But you can’t verify any of this info.
- In fact, these people don’t have any profiles on Facebook and LinkedIn. So do you know any legit marketing specialist who are online and yet doesn’t use social media? That doesn’t make any sense. Every marketing specialist displays all their contact info so they can be reached and read about by large numbers of people online. But these two don’t seem to want the spotlight.
- Once you sign in, you’ll get a call or a message encouraging you to make a deposit of at last $250. And even if you do make that deposit, they’ll still send you messages asking you to add more money.
Proof in the Pudding
But despite all these marketing snafus, the real test of a program’s worth is if it works. After all, there have been a lot of products that have been marketed horribly even though the product itself was good. So maybe the marketing was bad, but maybe the actual software is good.
How good is it supposed to be? The video’s first scene showed a guy with a smartphone and on the screen there’s an account with a little over $5,000 in it. Then they guy refreshed the screen and there was more than $7,000 in it. A few seconds later, he refreshed again and the amount was close to $12,000.
And that wasn’t even the guy’s balance. It was the account of one of the members, who signed 5 minutes before. In other words, you can start with $5,000 and end up earning thousands more every few seconds! That’s what the video implies.
But the truth is that the software isn’t quite as good as the video says. The program is just so inconsistent. It’s basically tossing a coin, or generating a random number like an old-fashioned calculator.
And that’s bad for your business. You can’t be right half the time when you don’t run back as much money as you lose. In 10 trades with $25 investments for each, winning gets you $20, so you earn $100 if you’re right in 5 trades. But you lose $125 in the 5 losing trades. So on average, you’re going to lose $25 every 10 trades with this program.
Avoid it, because it’s simply so inconsistent that you can’t trust your money with it. You may as well toss your “lucky coin” to determine if a stock price will go up or down. You may want to check out other tools that have a real chance of being right more often. This one doesn’t qualify at all.