Is it a bird? Is it a plane? No, it’s AmazonMoney, which is actually just an internet page that tells you to invest in Amazon stock. I know, right? I was expecting some amazing robot or system endorsed by a billionaire who just wants to help me become rich (maybe Bezos himself?), but no, all I got was a page and a 4 minute sales video. But let’s dig deeper, shall we?
What Is Amazon Money And How To Make It Work For You
Look at that girl. Do you see how happy she is? Clearly she just made a ton of money using AmazonMoney trader… robot… page thingy. At this point I am still confused what AmazonMoney is and no matter how hard I try, I can’t find an autotrading robot. In fact this whole thing is just an advertorial that nudges you in the “right” direction, which is trading Amazon stock using their recommended broker.
To sweeten the deal, they show you how much money you can make trading this single asset:
If you invest $250 (which is the minimum allowed), you can achieve potential earnings of $500 in under 2 months. Great, that’s 100% profit but if you invest more, you can make more than 100%:
Wow, now we’re talking: invest $1,000, make $5,000 in under 2 months! Good deal, but is it real? The good thing is that this page also has a 4 minute video that explains things in more detail. For example, it tells us that 2020 was great for e-commerce due to the effects of the pandemic, and Amazon stock increased 69%.
It’s true that online shopping swelled during 2020, and yes, investing in Amazon during that period would have been profitable. Still doesn’t explain the need for AmazonMoney. I can go to ANY broker that offers stocks or CFDs on stocks and I can trade on my own; I don’t have to use their broker for that.
Another interesting thing with the video is that the narrator-lady explains that if I would have invested $1,000 in Amazon stock in early 2020, I would have earned $690 profit. Ok, that math is correct but I wonder why not use CFDs to trade instead of simply owning the stock? Stocks have no leverage, while CFDs allow the use of leverage up to 1:30 for European clients and 1:sky’s-the-limit leverage for other continents. So, if I really wanted to make money, then I should have traded CFDs, right?
Just as all these get-rich-quick schemes, AmazonMoney wants you to invest with their recommended broker, so once you sign up, you are re-directed to the “best” broker. However, AmazonMoney can be accessed via multiple links, each one directing to a different broker.
Among the brokers, I managed to find once called Elite Trading (never heard of it before), which is as transparent as a brick, has no regulation, no address and I couldn’t even access the site. After registering (through AmazonMoney), I just received a “Congratulations” message which said that I am in queue for being contacted… ok, looking forward to it.
Ok great. I am so happy that I am in the queue because I can’t wait to give you my money. Anyway, another broker is FXTB, which has a more prominent online profile, is more transparent, and holds the proper licences.
All in all, I don’t see the point of using a particular broker just because AmazonMoney tells you to. Other apps at least offer you a trading robot in exchange for your deposit at their recommended broker. I know that these robots don’t work as advertised, but hey, at least you get something more than just “Oh, AmaZon iz goOd iNvestMent. MakE MoNies!”
Is AmazonMoney Legit? What Traders Think About It
I’m glad to see that people still have a good head on their shoulders (most of them at least).
In the comment featured above, the user was wondering if AmazonTrader (same as AmazonMoney) is legit or just a clickbait scam. Others were swift to point him in the right direction, aka It’s a SCAM, dude:
Common sense prevails: you won’t make thousands of dollars a month by investing in a single company and if you want to invest in Amazon, just go to a high-profile broker and do so. It doesn’t mean that you will get rich but only adults are allowed to open an account with a broker, so if you are an adult, you can make your own decisions.
Wrapping It Up – Should You Use AmazonMoney?
Umm, use what? A page that tells you to invest in Amazon? There’s no tool, no inside knowledge provided, no secret, no special education, no robot. They literally just have a webpage that uses a simple formula to multiply any sum you enter, in order to show you that you can make potential profits.
And in exchange for that, they want you to sign up and deposit with their broker so they can make a commission. Wow, two thumbs up for creativity AmazonMoney, but I’ll pass! However, never forget that the decision regarding your money is ALWAYS yours!