Today we will take a look at a new site named Magnum Trades. What is Magnum Trades all about? Is it a scam or a legit opportunity for you? Can you make a lot of money from it? Will it be something for you or not? These are some of the questions this Review will focus on. Ok, here we go!
Product: Magnum Trades
Website: www.magnumtrades.com
Owner: Not mentioned on the site?? (Bad sign)
Price: Requires a minimum deposit of $2,000
Who is it for: Uneducated people in the subject that don´t know better
What is Magnum Trades about?
Ok, I am going straight to the point here. According to the site (and the ones promoting it) this is a heaven sent program that allows you to “invest” and letting their expers taking care of the trading for you, so you can just sit back and relax while makeing great profit.
They claim that with the lowest deposit ($2,000) you will get a return of $4,65o in only 20 trading days!
Now that is a bold promise… and totally unrealistic (there is no way to predict trading this way down to the dollar)…unless… it is a ponzi scheme!
Aha!
Yes, that is exactly what this is, a ponzi scheme.
How does it work?
How does that work? Well, it works pretty much like this:
As long as there are new members joining and putting money into the program other members can withdraw the “earnings” they make. However, if there isn´t enough new Money comming in there will be impossible to pay out money to ANYONE… When this happens the program will crash… and the “mysterious owner” will make a runner with the Money left inside of it.
Can you make money with it?
Well, if this isn´t a complete scam and only a ponzi sort of scam you can probably make Money for as long as the program works… That depends on what is explained above.
Is Magnum Trades a scam?
I would call this a scam in my opinion. Why? Well, first of all the whole claim that it is trading being made behind the scenes for you is an absolute lie.
If there was a trancparency behind their fancy looking website (do not let a good looking website fool you) and they was being honest with what it is all really about I would have better understanding as there are many people that are willing to take the high risk that ponzi schemes involve (most times people who work for them reqruiting others into it for commissions).
What about their “real” adress?
On their website they have writen the company adress, right?
I have seen this “Company adress” claims Before soo I know how these things work… I made a Quick google search on the same exact adress and surprise surprise! There is nothing named even close to Magnum Trades on that adress. The only thing you will find is fashion shops there.
Click here if you want to see the adress search result
Why You Should/Should Not Try Magnum Trades
Ok, to be honest here I DO NOT recommend this crap to anyone, not even to “big risk takers” with a lot of Money that they don´t know what to do with.
There are much better alternativest that are both high risk and low risk to put your money.
Final Words and Verdict on Magnum Trades
Verdict: Scam!
Overall rating: 0/10
Ok, I Think I have made my Point pretty clear on this one. Stay as far away as you can from Magnum Trades or any other simmilar site that claims to give you unrealistic returns on your investment. Those things are never the real deal.
Better Alternatives?
If you are looking for great investment opportunities at least go for real companies that have both an online website and a real adress as well.
Sure, the earnings might not be as exiting as the fake investment sites but at least you are knowing that your money are invested and not “gambeled”
Right now I would strongly recommend you to invest into gold, silver or other precious metals. I would also recommend you to invest in companies that even allow you to get your investment delivered to your home in physical form so you can both see and touch your investment.
I have a few of these companies listed on this site, one that I know is legit and also have great benefits is Gold Broker.
It delivers the metals to your house if you want and it also allows you to store your investments in your OWN name if you desire that instead.
Click here to read more about Gold Broker
I hope you found this short review of Magnum Trades to be helpful and now you should know what it is all about. If you have tried it please share your experience with us in the comment section below as it can help others to avoid it. Also, if you got any other questions about this Review I will be more than happy to answer them below!
I wish you success!
John
Founder of: StartMakeStopWaste.com
Hi John,
This is an informative review for me. I really had no idea what a ponzi scheme was until reading your review. What a huge risk to invest $2k with the promise of a return.
Trading is already a risk so putting a claim out there that you will make so much money in 20 days already sounds like a scam.
The fact that they are secretive with who they are and their location is a huge red flag. Unfortunately, there are those who will try it for the lure of “easy money”. It is not worth the risk.
Glad to help out and educate, it is not easy to know before you know 😉
Thank you John for your honest and very frank review of a part of the internet that is hurting many unknowing people seeking to make a fast buck. You clearly point out that the “fast” buck is rarely truly there.
I also like the fact that you are not sugar coating the problem that companies like this pose to unsuspecting investors. I personally have been fortunate enough to have never gotten involved in something like this, but I do know some that have.
Thank you for a very informative and well written article. Anyone reading it will be better educated and therefore better able to protect themselves.
Great job, keep up the good work.
Thank you Frank! Really apreciate that alot more than you might think
/Best regards
Yes this company has now gone and resurfaced under the name of Rockview Investors … a definite scam! I’m chatting to the owner and his “testimonials” at present on the pretence of buying into it. A friend was scammed by them and none of their addresses pan out to be true. Have told them I would like a camera video chat with him and his clients … he has practically declined that. So he isn’t who he says he is and unfortunately he has run off with some of her money. Keeps telling her to add to her account withdrawal fees so she can withdraw her balance…. hhhmmmm a most definite way of scamming people from more money!