Product Name: Insured Profits
Product Owner: David, Ginny & Steve
Advertised Price: Free
Real Price: $250+
What Is It?
Binary options trading software that’s supposed to make you win more times, and lose less money.
This is a slightly new angle on the same old scam. No trading software like this works, and if it did, they wouldn’t be giving it away for free.
Elements of the Scam
Products like Insured Profits use the same tactics across the board. They keep using them, because they keep getting money out of pockets just like yours. It’s the Nigerian Scam of the 2010’s.
All so-called “testimonials” are paid for. They don’t tell you that, or they tell you that in very tiny print. The owners of Insured profits Dave, Ginny, and Steve? They’re actors too. Watch the sales pitch again knowing that they are actors and the ingenuity oozes out of the presentation (especially Ginny’s).
Ok, fair enough, McDonalds uses actors too, right? But no one believes that they are actual customers. That’s where the difference lies. Many folks think that these are the REAL people behind the program, and to me, this is false advertising.
Free is Not Free
The fact that Insured Profits is “Free” is harped on over and over again. Dave is such a niche guy and is looking out for us, so he’s just going to give this amazing software to us to give us a better life.
But you you still have to fund your trading account with at least $250. Some people get so excited the bump it up to $1000 or more. Hey, who wouldn’t considering we’re guaranteed to make money, right?
This is the ultimate scam, and it’s why it works so well. They give you a useless piece of software for free, telling you that it can turn $250 into $1,000,000. Sounds a lot like a magic bean situation. Except Jack’s beans end up being real…Insured Profits is definitely a fake.
You might have seen the article listed on Engadget about Insured Profits. Wow – a legitimate news source, right? Well the article was taken down because they don’t allow spam like that on their website!
Every other source of information is from brand new or nonsensical websites that do nothing but repeat the same old rhetoric about Dave and Ginny inventing a magic bean software that guarantees a way to make money.
There is not a single legitimate news source out there that mentions this software. Heck, people go nuts when Obama talks about raising the minimum wage to $15/hour. Don’t you think someone would care if were were make $1,000’s per day trading stocks and profit was guaranteed?!
Some of the most common issues with software trading scams like Insured Profits are:
1. High pressure sales tactics used on the phone
2. Win a few trades in beginning, then lose all trades
3. Cannot withdraw money until minimum number of trades or date
4. Phone support unresponsive
There are NO refunds in the stock market, so if you lose your $250 investment, it’s gone forever. But what’s worse is that many binary brokers simply don’t answer the phone after you deposit money. So even if you win you can’t get your money out!
When trading, you not only need to look up the company that’s giving you trade signals (if there is actually a legitimate company that does this. I haven’t found one myself), you also need to look up your broker.
Many brokers are not regulated by the FTC because they are not US companies! Are you comfortable depositing your money into a brand new company originating from Cypress? I’m not.
Too many red flags. This one is NOT for me.
If your brain is stuck on binary, good luck to you. It’s not for me. After reviewing 50+ other scams like this, I just can’t stomach it.
But I do make money online, and I can teach you how I do it. The company that taught me is very straightforward about what they teach and how much the training costs. There are no silly gimmicks or promises (or ridiculous backstories).
You can see more about how I quit my job in less that 2 years following their training.
Were you scammed by Insured Profits? Let us know in the comments and save other people the hassle losing that same money!