Magnetic Profits – Profit Magnet Scam

This program is very similar to the Profit Magnet Scam that I’ve read about a few times. I’m pretty sure it’s made by the same people and they just tweaked it a little bit and changed the name to Magnetic Profits.

I do not promote this program and I’m going to tell you right away that this is a complete scam so you should stay away from it at all costs.

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Name: Magnetic Profit


Owner: David Silversmith(fake name)

Price: Free

Overall Ranking: 2 out of 100



 This program is actually lucky to even get a 2 out of 100. It is 100% fabricated information and you shouldn’t buy into it for a second.

I know this sounds like I’m slamming this program but don’t worry because I have proof to back up my claims and I’ll show you that proof throughout this review.

I’ll go over some of the red flags that jumped out at me and then I’ll tell you exactly how I am so certain that the Magnetic Profit System is a scam.  If you’re more interested in my higher ranking programs just click here to check them out.


Red Flags

The first red flag for me was the fact that I’ve seen another program that is very similar to this one. The similar program I’m talking about is the Profit Magnet Scam and I’m pretty sure the same creators are behind it.

It’s really common for online scammers to keep on creating different websites with the same old scams. They’re called duplicate sites.

What they do is they come up with a scam that makes them money. Once word gets out that their website is a scam, they just build  a new website with a different name and a few different details but they use the same scam.

The second red flag for me was the fake counter.

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They are telling us that there are only 4 copies of this program left. All you have to do is leave and come back in an hour or the next day or week and you’ll see that this counter doesn’t change. It’s constantly says 4 and so it’s easy to figure out that it’s a lie.

A lot of online scammers use this as a tactic to rush people into buying it. It takes advantage of people’s high hopes that they’ve built up by promising big paydays.

That brings me to the next red flag, the income claims. They are telling people that thousands of dollars per day can be made with their system. Or even a million dollars in a month.

These are some crazy claims and I can tell you from experience that there is no program online that can make that kind of money. Any time a program is claiming huge earnings like this you know right away that it’s a scam.

Yes you can make money online and even people with no experience can. But it takes time and work. I learned how to make a living online but I took a proper training course and it took a lot of work.

Now for the proof. All of these red flags made me fairly certain that this program was a scam but this last bit of information is what put that final nail in the coffin.

You know the spokesperson in the video? He claims to be David Silversmith today but I wouldn’t be surpirsed if the name changes regularily.

Well he’s a hired actor. I know this because I found his ad on Anybody can hire him to make video testimonials and he’ll say whatever you want.

Check Out His Ad Here

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So now I’m sure you believe me if you didn’t already. He’s a fraud and this program is a fraud.

The Scam

 So you might be wondering how this program can be a scam if they aren’t charging people anything for their software. That’s a valid thought so let me explain.

You see, they claim that they’ve come up with a software that can acurately predict the outcome of binary options. Binary options are short term stocks that you can bet on. Pretty much a form of gambling.

Magnetic profits is telling us that they’ll give us this free software and we’ll be able to get rich from it. The catch is the fact that the software is bogus.

There really is no software, all they give you is a program that randomly makes binary option selections for you and they have the same chance of winning as you would if you were to guess.

They do profit from you though. There are 2 different ways that they can profit from you if you choose to use their fake software.

The first way they could be profiting from you is with commissions. You see, they send you to a specific broker to put their fake software to use. When you get to the broker you’ll have to make a deposit there in order to make trades.

Usually they have a minimum deposit of $250 but sometimes it’s more. Once you make that deposit, Magnetic Profits gets their cut.

The other way they could be profiting is if they are in fact the actual owners of the broker as well.


Final Thoughts

 I think it’s pretty obvious at this point how I feel about this program. It’s a total scam and I urge you to stay away from it.

Although Binary Options themselves aren’t actually scams, they are very high risk. Not only that but there are a lot of other websites out there claiming to have a secret to winning them. All lies.

If you’re looking for a way to make consistent and reliable money online then Binary Options are not a good option. They are just way too risky and you’ll almost always lose in the end.

Personally I prefer affiliate marketing as a way to earn money online. This is a great way to make a reliable and honest living from the internet and even beginners can do it if they get the proper training.

The lesson here is just to be very careful when seeking out a money making venture online. There are a lot of scams out there so make sure you only join programs that you’ve researched a lot or that give you a free trial.



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