Founded by Sean Hyman, former pastor and creator of the Ultimate Wealth Report, the Biblical Money Code is a stock trading system blueprint that claims to help you get out of debt, make good investments, and build substantial wealth using ancient Biblical wisdom. In fact, Mr. Hyman claims that he increased his annual income from $15K to millions per year, and boosted his dad’s retirement income from $40K to $396K, using the ethical, safe methods found in the Biblical Money Code.

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During the one-hour introductory video, Mr. Hyman claims that he uses Biblical scripture as a guidebook how to treat money—meaning it’s the love of money that’s the root of all evil, not the money itself. In other words, it’s about avoiding an obsession with money, and using it to give to others, that will actually make you wealthy. In addition, he claims that he often turns to Proverbs—which was written by King Solomon—for most of his financial wisdom, as most of this knowledge is still effective today.

Whether you’re a veteran investor or have never played the stock market before, the Biblical Money Code claims that it can help you become wealthy for the right reasons, and in the right manner, without becoming money hungry. The company claims to have 57,000 weekly readers who use their “fine blueprint,” which is based on biblical principles used by the Apostle Paul, King Solomon, and even Jesus of Nazareth. Ultimately, Sean Hyman states that the Biblical Money Code has given him the financial freedom to be able to serve God and his local church, and it can do the same for you.

How the Biblical Money Code Works

The Biblical Money Code consists primarily of getting yourself into the correct “money making” mindset, by not becoming obsessed, and giving freely, just as the Bible teaches. As an example, Sean Hyman looks to the Dot-com and housing bubbles, where everyone thought they could become instant millionaires, but ended up losing it all because they became too money hungry. In fact, Mr. Hyman claims that more than $8 trillion in wealth was lost during the dot-com bust, as nearly everyone fell prey to money obsession.

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On the opposite end of the spectrum, Sean Hyman also addresses those who are afraid to take risks, and just “stuff their money under their mattresses.” Despite all appearances, these individuals love money just as much, but simply observe from the sidelines. In fact, Mt. Hyman claims that this practice may be even worse, according to a parable that Jesus spoke in the Gospel. But why is this? Well, if you put money away and don’t allow it to work for you, each dollar you earn is reduced to .61 cents due to inflation in a period from 1993 to 2013.

Finally, Mr. Hyman claims that following the mainstream media is not the best thing to do if you’re looking to increase your wealth, as they’re usually wrong. With the Biblical Money Code system however, there are three parts you should carry out prior to investing in a company:

Fundamental Analysis

What kind of company is it? What type of foundation is it built on? Would it be able survive an economic downturn? Is the business operated well, including a solid management team? Does the company hold a lot of debt? Do they have enough cash in the bank to carry out their business model?

Each of these questions are fundamental to ask yourself before purchasing a company’s stock. This way, according to Hyman, fear or greed won’t get the best of you.

Technical Analysis

This step helps you to identify the best time to purchase stock, using indicators such as trend analysis, relative strength gauges, and moving averages. In addition, Mr. Hyman claims to use a Relative Strength Index (RSI), which is a technical momentum indicator that helps him determine a good time to enter the market.

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Sentiment Analysis

To quote Warren Buffet, “Be fearful when others are greedy, and be greedy when others are fearful.” Sean Hyman claims that Mr. Buffet is extremely wealthy because he is very cautious toward investments that everyone else is falling over, and he carefully considers investments that everyone else is afraid of. In essence, he’s doing the opposite of what everyone else is doing.

In this step, once you’ve analyzed a company and found them fundamentally solid, if you notice extreme spikes in its valuation due to panic over a firing in management, or a missed quarterly projection by a few cents, it might be a good idea to hold out. Then, after everyone has sold their shares and the price has dropped, you can get into the market cheaply.

The Bottom Line: Is Biblical Money Code a Scam? What Do You Get For Your Money?

Sean Hyman is an investor and stock trader who transacts business using the concept that the love of money destroys fortunes, and that utilizing a systematic approach is the key to success.

As a Biblical Money Code member, you’ll gain access to Mr. Hyman’s monthly 12-page Ultimate Wealth Report, which will give you his most recent research about some of the latest and greatest investment opportunities. This report includes which companies to buy, and at what prices, in addition to detailed reports and evaluations about the companies. You’ll also receive once-weekly updates (every Thursday morning), either through email or video, of Hyman’s current research. Here, he lays out every investment and trade opportunity for you, while walking you through his triple-part approach (Fundamental, Technical and Sentimental Analysis) about what to buy and what to sell.

A deluxe subscription to the Biblical Money Code will cost you $97, which includes digital and print copies of the newsletter. If you’d like to forego the print version of the newsletter, the price drops to $47 per month.

After enrolling, you’ll automatically gain access to the Biblical Money Code website, where you can view previous newsletters, as well as speak with customer service, which features more than 30 trained staff members. You’ll also receive the Investing 101 guidebook, which will outline all the fundamentals for trading stocks, in case you’re unfamiliar, as well as additional resources.

With all this said, Sean Hyman is a well-known stock trader, and is not necessarily out to scam his customers. He’s also not someone who’s trying to sell a “get rich quick” scheme, but instead wants to teach you the same business model he uses for stock trading. In the end however, how well you carry out the knowledge contained in the Biblical Money Code will ultimately determine how successful you are.

It’s important to keep in mind that some customers have reported fraudulent charges on their credit cards, which could be caused by pressing the “Submit Order” button on the website multiple times. Regardless, it may be a good idea to notify your bank and closely monitor your charges if you decide to sign up.