What Is Online Wealth Market (The Full Review 2023)

There were many promises of success. Advertisements highlighted mentions in Forbes and Entrepreneur. So far, this has seemed like way too much danger for something I didn’t grasp. Something else that made me suspicious was the fact that there were so many contradictory statements:

– “Most brokers do not want to help beginners and require a small fortune to open your account”

– “We’ll teach you how to get started quickly and affordably”

– “Online Wealth Markets works closely with our carefully selected, high-quality brokers.”

My head was spinning with a lot more questions than answers as a result of this. Why were these brokers going to reveal their information? My head was telling me, “Take a good look at this before investing your money.” So, I did what my brain was telling me. And that’s how I dived deeper into Online Wealth Markets.

The firm claimed to have experienced trading specialists who could teach you all you needed to know about their methods, how they worked, and how to trade profitably. Please don’t get the notion that Online Wealth Markets was a broker in any way, shape, or form. Instead, they provided an online trading school and trading signal software.

The training and the software came with the services of one of the firm’s authorized trader brokers; who was assigned to you by the company. You also received the required information about setting up your new account and accessing customer assistance if you had any issues.

They used terms like “working from home” and “no prior experience required” to sell their products. Yet Online Wealth Markets was nothing more than binary trading software. Hence, it was referred to as the Online Wealth Markets App.

What did they offer?

OWM offered binary trading classes, trading signal software, and the necessary information to use the software and app. The sign-up process was straightforward, and the software was simple to browse and use. The application itself didn’t require any downloads.

The software was compatible with nearly all Windows PCs, Apple computers, tablets, and smartphones. There was a list of requirements to use this software.

Member’s area

In this app section, users could find step-by-step instructions, training resources, and video training sessions.

Specialized trading software

The software included everything for you to start trading.

Personal coaching

Immediately after enrolling, you had the opportunity to speak with a professional trading coach over the phone. They helped if things became difficult. Every user who used the app was assigned a broker, who was regulated.

The broker assisted in making any decisions and guiding you through all of the options. According to the website, users didn’t need any prior expertise with binary trading to sign up. The software acted as the instructor, teaching how to trade binary options. To earn money, the company provided trade tips, tactics, and strategies.

What was binary software anyway?

Because I know that many people are unfamiliar with binary trading software, here is a quick rundown. Binary options trading is a very basic kind of trading that has become increasingly popular because it appears to be so straightforward. (But It’s never simple to make money.)

Here’s why I compare binary options trading software to gambling: binary options trading software predicts the market. The program, for example, “guesses” that the price of oil is going to climb in the following few minutes. If the oil price doesn’t climb during that time, users win a percentage of a stake.

On the other hand, users lose everything if the program is unfitting. Do you see why I compare it to gambling now? For such a short period, no one can anticipate the market.

Was this correct? No, it was not. After opening a free account, you had to pick a binary options trading broker and make your initial deposit of at least $250 to begin trading binary options. By the way, you could obtain trial access to training videos and PDF manuals for about $8.

Unfortunately, this procedure involved several significant difficulties because many brokers were unlicensed and didn’t adhere to rules. Secondly, the program was free, but you spent real money to begin trading. Thirdly, after you put money into a binary options program, you weren’t able to get it back because that money was non-refundable.

The proprietor of this platform received a commission every time you deposited money into your account, but your profit was not assured. Furthermore, many customers who invested in binary options programs said they couldn’t even withdraw their profits. Scam? Keep reading.

When I did some research, I found a lot of red flags. These were some of the things I noticed:

Get-rich-quick

This scheme promised immediate income, but anyone with even a little experience generating money online knows that this was the first red flag. Online Wealth Markets’ website showed pictures of huge mansions, expensive vehicles, and other things to persuade you that all of this was achievable if you join their system.

When I encountered such features in the software, I instantly suspected that something was wrong.

The interface said it all.

The website followed the same layout used by most low-cost frauds. In addition, there were always some logos of well-known firms at the top of the page. Apple, Nike, Google, Coca-Cola, Amazon, and Facebook were the companies in this lawsuit. That was not very sensible.

These logos were used in scams like this to deceive you. They wanted you to believe that their website/software was a well-known application used by large corporations. Unfortunately, these logos weren’t clickable and gave a false impression.

For example, the other websites of Online Wealth Markets (yes, they did have other websites) had a slightly different design than the main website, but they also had the same cheap style as other scam websites. The layout had been used in a lot of frauds.

Too good to be true

On the website, there was also a lot of information about the application. The software was the primary instructor. When I went down to the frequently asked questions, I found a broker who could assist me. Still, I couldn’t understand why someone in his position would provide trade secrets to a complete ‘noob’ like me.

The website further claimed that persons with experience in this sector might use this application. I was hoping that this technology would be the answer to my financial troubles. The suggested starting sum of $250 sounded considerably more than I wanted to invest, but successful trading seemed to be something I could accomplish.

I chose to view the video to learn more. However, after clicking on the video, I went from thinking “this might work” to a nagging worry about whether or not I should submit my credit card information.

Raising further eyebrows

The first thing I noticed was that the video on the website had a different URL. The video and the information it contained appeared to be discussing two separate topics. The individual in the video did not mention binary options or Wall Street, only campaigns and a method for generating money.

According to the website, $250 is the minimum deposit to begin trading. However, someone in the video claimed that you may use this system for free. I saw the words “free trial then future payment option of $47/month” in a sign-up window just below the video. Is that deducted from the $250, or was it in place of it?

My interest and enthusiasm plummeted even further. But, as I continued to listen, I became more aware of the enormous sums of money I might make. Unfortunately, what I saw appeared to be a basic Excel spreadsheet, and it didn’t persuade me that these figures were anything more than a sales tool for MLM.

Membership lure

They informed you that a trial of Online Wealth Markets costs you approximately $5, so you could see for yourself that this was a legitimate product. “Well, it was only about $5!” So, what’s to stop you? “I’m going to give it a shot.”

However, this was just what the company expected. They aimed to get you to join their club, and once you were there, they encouraged you to buy additional things. That’s what happened when you paid the $5 trial membership fee. In addition, the platform demonstrated why its binary options trading system was so effective and how you might profit from it.

You learned false information that this software had an 80%-plus success record and that even if you lost once, you won back your money numerous times, so you can’t really lose. But, of course, all of this was a ploy. They simply told you that you may deposit approximately $250 with the Online Wealth Markets’ recommended broker.

Yes, you read that correctly; the $5 trial was only a ruse; you have to spend about $255 for the entire system if you want to get started. After you deposited the $250, the system was good for about a week but it was ultimately unsuccessful. Users lost all of their money.

Fake coaching call

A 1-on-1 coaching call was part of the Online Wealth Markets trial. As a result, if users wished to join Online Wealth Markets, they also had to provide their phone numbers. A coaching call could appeal to many individuals who only wanted assistance in generating money online.

Sorry to say, but they didn’t learn anything during such calls. In reality, slick marketers merely tried to sell them unnecessary items.

They received a commission every time you traded with the Online Wealth Markets app. Such trading software had an extremely poor success record, and as you could see from the red flags mentioned above, many people lost all of their money because they trusted Online Wealth Markets. Was it a ruse?

It most certainly was, in my opinion. OWM promised to show you how to generate money quickly and easily and that you didn’t need any prior expertise. No one warned you about the dangers of binary trading software. Therefore, I would never have advised anyone to invest in Online Wealth Markets.

Conclusion

If you are reading this, you’re most likely interested in systems that claim to help you earn money from home. However, perhaps you have already observed that the majority of applications that make such promises are rip-offs.

I believe that after reading my evaluation of Online Wealth Markets, it is apparent that while binary options in themselves are not a fraud, I could not have endorsed this particular company. You should not rely on chance while utilizing binary trading software if you truly want to make money online. Also, read the article about the best online earning apps in Pakistan.