Finding the Right Platform for You
The crypto trading world is becoming much more competitive these days. There are thousands of different people looking to improve their trading strategies to become some of the best traders out there.
Considering how many new traders get into the market each day, trading platforms are becoming more of a necessity than an option. Getting information about cryptocurrencies is easy, but it can also get overwhelming at times because there’s way too much to consider regarding content.
However, not all trading platforms work with your best interest in mind. Some trading platforms were designed to hoax their users and get their money without giving them anything in return; that’s why we came up with these reviews.
Our goal is for people to work in a safer trading environment, and to achieve that, we’re going to review as many of these trading platforms as possible so that you have a wide list of platforms to get.
Today, we’re going to take a look at Millionaire Detector, which is a trading platform that claims it can give you a wide overview of how the market behaves so that you can make better trading decisions. The chances are you heard about Millionaire Detector through an email, so you must get as much information about it as possible before creating an account there.
This Millionaire Detector review covers everything regarding its website, platform, and extra features. If you’re eager to know our verdict for this platform, keep reading!
What to do instead?
- 1 What to do instead?
- 2 Should You Invest in Millionaire Detector?
- 3 What Do You Need to Do to Find the Right Trading Platform?
- 4 What Is Millionaire Detector?
- 5 What Does Its Website Say?
- 6 Does the Millionaire Detector Platform Work?
- 7 Deposit and Withdrawal Processes
- 8 Brokers
- 9 Is Millionaire Detector Legit? | Our Verdict
Should You Invest in Millionaire Detector?
This is the primary question we aim to answer at the end of this review. While Millionaire Detector doesn’t seem like the most reliable trading platform out there, it’s still too early to be giving out a verdict.
We pride ourselves in being a team that goes over each detail of the trading platform so that we can give you an honest and objective review. As mentioned before, there are hundreds of different platforms on the market, so it may be a bit hard to tell which one can be the right service to use.
Moreover, some fraudsters have replicated the most popular trading platforms on the market accurately, making it challenging for beginners to tell the difference. Regardless of the case, we advise all traders to stay away from trading on a particular website until they have enough information about the service.
As mentioned before, we’re going to go over each small detail regarding Millionaire Detector, so you can rest assured you’re going to have an answer on whether you should use it or not for your trading journey.
What Do You Need to Do to Find the Right Trading Platform?
There’s a small list of things you – as a beginner – can do to avoid getting conned online. The crypto market is thriving right now, so it’s much easier to fall into these fraudulent than before.
Some of the things you can start doing today to avoid falling into a hoax involve the following:
The most important thing to do is to investigate the platform you’re looking to use. You may look for news reports, online searches, or reviews (as you’re doing right now!) Thanks to these items, you can have a better understanding of what the company can offer you, as well as a couple of user reviews if you can find them.
Social media is a great place to gather information about a product or service. However, social media is also filled with fake reviews, comments, and users. Make sure you’re reading reviews from qualified and reliable people.
While most trading companies are going to ask you for personal information (email address, phone number, etc.) you must be careful with unlicensed companies that ask you to install suspicious platforms. That platform could potentially harm your device or steal your information.
If something sounds too good to be true, it probably is. Most swindlers try their best to make the trading process seem way too easy for people, luring them in. Keep in mind that trading is not an easy activity, so any person claiming otherwise is likely lying.
If you want to become an expert trader, you must know you’re going to find yourself making a lot of deposits and withdrawals. As a rule of thumb, these processes must be easy to complete. Most fraudsters ask for large minimum deposits and limited withdrawals, so make sure to pay attention to these things.
What Is Millionaire Detector?
We’ve given you the basics of what to expect from both a legit and a fake website, so it’s time to go into what you came for: our Millionaire Detector review.
Millionaire Detector (according to its developers) is a trading platform that can help you optimize your trading through auto trades. Something we found weird right at the start was in the promotional video the company used.
Most trading companies welcome users to their websites with a promotional video that showcases the platform’s benefits. However, Millionaire Detector’s video showed someone who allegedly ‘went through a lie detector device’ while he was talking about his profits with the platform.
Logically, the person in the video claimed he passed the lie detector test, but there’s no evidence that his claims are true. Moreover, he claims the platform can help you make ‘thousands’ each week without you having to do anything; not only that’s impossible, but the claim itself doesn’t even make sense.
A primary sign of a fake trading website is that it starts by giving you unrealistic profit expectations. As mentioned before, trading is a complicated activity, and crypto trading is one of the most volatile financial activities you can do today. Unfortunately, we can’t trust a company that starts off its website telling people that they can earn thousands of dollars without having to do anything.
Finally, the top of the website has a small text box that says “XX Free Places Left.” This is something many fraudsters do to cause a sensation of urgency in new users and make them sign up immediately. We’re here to tell you that all of that is a lie.
You could register at any point you want. Whether you check the website today or two months from now, there are always going to be ‘Free Places Left.’
What Does Its Website Say?
The rest of Millionaire Detector’s website spends a lot of time telling you why you must use its trading platform to achieve ‘financial freedom.’ While that isn’t a ‘red flag’ itself, it’s weird for a trading company to spend that much time trying to convince people to register.
One of the primary purposes of a trading platform is to help people trade better and make better trading strategies in a shorter amount of time. Saying that a trading platform is supposed to take care of the process for you entirely doesn’t make sense; everyone would be doing it!
There are many generic claims about how the platform itself works, so there wasn’t much we could conclude from that information until we tested the platform ourselves.
As for the ‘About Us’ page, which is often a great place for people to know more information about the developers, there wasn’t too much to find there either. The company behind Millionaire Detector preferred to remain anonymous (aside from the video with the man talking about how he passed a lie detector test).
Overall, the website doesn’t have any contact information or physical address that could get traced back to the company. This is a problem since it means you cannot contact anyone in case you don’t get your money back. Moreover, the company doesn’t seem to be regulated by any financial institution in the trading industry, making it a potentially illegal company.
Does the Millionaire Detector Platform Work?
According to Millionaire Detector’s developers, the platform is supposed to trade entirely on your behalf, and that’s what the platform welcomed us with.
Creating an account is straightforward, and we were quickly given the ‘platform.’ At first glance, the platform seems to be legit, but considering all the red flags we saw in the website’s content, we decided to take it one step further.
After making a deposit and making some simple adjustments to the parameters, we let the platform work for a while. At the end of the day, we noticed a strange pattern of ‘positive trades.’ In essence, we were winning most – if not all – of our trades, which is impossible in crypto trading.
While you can definitely have a great trading day and make several positive trades, it’s virtually impossible to win all of your trades. Trading Millionaire supposedly works with a platform that can predict market behavior in a short amount of time. However, we didn’t find any evidence backing up these claims.
Considering the patterns that we just talked to you about, we assumed that all of the trades we ‘won’ were rigged and not real. Some fraudsters do this to make the trader believe they’re making significant profits from their trades without doing anything, making them invest more money.
Expert traders are quickly going to notice that those trades are fake and don’t represent any real gains.
Deposit and Withdrawal Processes
Millionaire Detector asked us to make a minimum deposit of $250, although its developers encourage traders to invest up to $10,000 if they feel like it. While $250 is a reasonable amount of money to invest in trading, a company setting a minimum investment requirement isn’t too reliable.
You should be able to invest any amount of money you feel comfortable with in a legitimate trading platform.
As for withdrawals, there isn’t any real ‘withdrawal process for users. We mentioned before that this process must be easy to complete. In the case of Millionaire Detector, the platform failed to release our money multiple times, which led us to believe that the withdrawal platform isn’t even real.
If you ever find yourself in these cases, we suggest you save any emails you got from the company as evidence and make a chargeback request with your bank (if possible). Moreover, you can write about your experience online to help other people not fall into the con.
We didn’t find any evidence backing up any of the claims the Millionaire Detector team made about the platform. In essence, we don’t even know if the brokers the company uses are even real or regulated.
Legitimate trading companies are always going to provide you with evidence regarding their brokers since those are the people responsible for executing your trades correctly. If you work with an unregulated trader, they could get your money and use it in any way they want to without your permission.
You must always look for a company that is transparent with its claims.
Is Millionaire Detector Legit? | Our Verdict
We took a look at every possible feature for Millionaire Detector. Unfortunately, we concluded that Millionaire Detector is most likely a hoax, and we highly recommend you not create an account there if you don’t want to lose your money.
In case you want to trade with a reliable platform, there are dozens of legit companies out there. We’ve reviewed some of them on this website, so make sure to read our reviews and choose something that best fits your needs!
TrustPedia is a financial portal-based research agency. We do our utmost best to offer reliable and unbiased information about crypto, finance, trading and stocks. However, we do not offer financial advice and users should always carry out their own research.Read More