My Profit Formula is a trading platform that uses Charity Profits app for binary options trading. According to the site you can earn well over $4,000 every single day. The creator of the system, Megan Sanders states in the welcome video how her trading app allows everyone to win.
What Is My Profit Formula?
According to Who.is, My Profits Formula was registered November 28, 2016. The site is also set to private which makes it a bit difficult to determine if Ms. Sanders really is the owner or an actress. Ms. Sanders states how she used to work for Georgia Bank as a financial analyst. Yet, there is no proof to support that claim.
During the introduction video, you begin to get the feeling that Ms. Sanders is playing a role. The suspicion is confirmed when doing a random Google search for Megan Sanders. You won't be able to find any Megan Sanders linked to My Profit Formula or Charity Profits App.
Now, Charity Profits app is the system that is used with My Profits Formula. The fact that the company had to make a different app to be used should also be a red flag when dealing with My Profit Formula.
My Profit Formula which uses Charity Profits app is completely free to use and download. However, you are required to make a deposit into an account in order to start trading. The amount for Charity Profits app is the standard minimum of $250.
During the introduction video, you will be told two things. First, you are told that Ms. Sanders will give you $5,000 of her own money if you fail to make anything within the first 24 hours of using the system. The second thing you are told is that you will get $1,000 bonus. Both of these claims, of course, are a bit far-fetched.
It is possible to earn a few dollars with the system within the 24-hour window which makes you ineligible for the $5,000 guarantee. Plus, in order to get the $1,000 bonus you have to jump through some hoops just to see that money put into your account.
Another thing that you are told before you sign up is how you are to donate 5% of your earnings to one of her charities she has set up. Now for some this may seem like a nice gesture of giving back to the poor and helping the needed.
Unfortunately when looking to the charities, the only good they do is line her pockets. Now, if you could pick a charity you like, say “Wounded Warriors Project” or “Saint Jude's” then maybe it wouldn't be so bad. But she makes you pick from one of her charities.
There are just too many red flags that come up when looking at this software. First off, no software, trading tool, app, or any program will ever let everyone win 100% of the time. My Profit Formula claims that everyone wins every time. This statement is completely false.
Plus when you look at how much the site claims you can earn $4,000+ in one day. It is mathematically impossible to earn that much from a mere $250 deposit and have 5% taken out for charity.
Next red flag is the fact that Ms. Sanders states how she is celebrating her first year of launching Charity Profits app. What is interesting though is how My Profit Formula has only been up for a few days.
It is possible that she is speaking strictly about Charity Profits app, but stating that on My Profits Formula makes it sound like My Profits Formula has been up for a while and it has not.
Now every trader knows and understands that there is a risk to trading. Some people even look at it like gambling in a way. You will have wins and you will have losses. That is just the way the game works. It doesn't matter what platform you use, you have to understand this principle.
With My Profits Formula, you could sign up and see what it is all about. Or you can steer clear and find another program that is 100% automated like My Profits Formula.