Insured Profits Review – Is it a Scam?
Note: We have no relationship with Insured Profits
It’s pretty common to see moneymaking profits suggest that you’re going to make money if you buy your product. Insured Profits goes a bit further – they claim you can earn millions using their binary options trading software. They’re not willing to stop there when it comes to being bold, however. In addition to claiming that you have the ability to earn millions with their software, they’re also giving it away. That’s right, the Insured Profits software is free. Is Insured Profits a scam? Read on for our full Insured Profits review.
Insured Profits Overview
Binary options is the hot new thing on the Internet now that everyone has tried and failed at earning money with Forex trading. Binary options are suggested as being much simpler to trade than stocks, bonds or Forex, as the result is binary – you win or you lose. Of course, if it were simple to predict if a stock or commodity is going to go up or down in value, everyone will be doing it. Still, Insured Profits says that they’ve found a way to tweak things so that instead of winning a certain amount when your trade works and losing a similar amount when it doesn’t, you will instead win $20 when you win and only lose $2 when you lose your trade. Assuming an equal number of wins and losses, having a 10/1 payout ratio would work out to a pretty healthy return using the Insured Profits software.
All you have to do is register with a broker, deposit money, fire up the software, and trade when it tells you to trade. It seems easy, and judging from the screenshot on the sales page, it must be really profitable.
Is Insured Profits really free? Yes, it is. All you have to do to get access to the software is register at the Insured Profits and follow the instructions on the page after you sign up. There are even a couple of videos to walk you through the process.
The Problem with Insured Profits
Is the Insured Profits any good? I can’t tell you. Here’s why: When you sign up with Insured Profits you’re taken to a page with four instructions:
1. Click the banner of one of the binary options brokers below
2. Register for an account with that broker
3. Deposit at least $250 into your account with that broker
4. Wait for an email message that will tell you how to access the software
You can’t access your “free” software until you’ve spent $250 with a broker. That means you can’t look at it, read about it, install it, see what it does or do anything else. Until you spend at least $250, you don’t have access to the “free” software at all.
What is this about?
When I signed up with Insured Profits, I was given a choice of creating an account with three brokers: TitanTrade, and OptionNow. A quick check over at OfferVault.com shows that TitanTrade has an affiliate program and they will pay $325 to their affiliates for each new customer who signs up with them. So, if you agree to use Insured Profits for free, you’ll have put $325 into the pockets of the creators of the software before you even have an opportunity to download it or test it. What if you don’t like it, or don’t want to use it? Too bad, you’ve already created your account and invested your money.
Does the Insured Profits software work? I can’t say for sure, since I haven’t seen it or tried it, but it’s not hard to find reports from people who have. Here’s one for an example:
The software makes one to 2 recommendations a day. each recommendation requires 2 trades…. So how can you make 15 – 20 trades on 4 trade recommendations? 2 trades I made on my own… of the 10 trades the software recommended, I lost all 10 trades ($200.00) of the 2 trades I made on my own I won 1 and lost 1.
Other reviews I’ve read had similar comments about Insured Profits. The screenshot provided by the individual quoted above showed that he made 12 trades and lost 11 of them. He lost $275 and won $45. What about the 10:1 win/loss payout mentioned on the sales page? I have no idea. In the real world, when you’re trading binary options, you lose what you invest. You don’t get to lose 10% of it.
Is it possible that the creators of Insured Profits have earned the millions they’ve claimed to make through binary options? Yes, it’s quite possible, but they haven’t made their money by investing in binary options. They’ve made their money by being affiliates for binary options brokers and by giving away software that doesn’t work in exchange for $325 in affiliate commissions. We’ve seen this sort of thing before with Binary App 810. The software doesn’t work, but you can’t discover that until you’ve already invested money. You can’t ask for your money back, because you never paid anything for the software in the first place.
Insured Profits is just a scam designed to put huge affiliate commissions in the pockets of the product creators. It’s also interesting to note that Insured Profits has an affiliate program of its own, paying $200 per “sale” to affiliates who get people to try the “free” software. Of course, there’s no “sale”, because the software is free. A “sale” happens when a customer signs up with a broker and invests money. The creator of Insured Profits gets $325, and then gives $200 to his affiliate, keeping $125 for himself for doing basically nothing.
Insured Profits Summary
There are better ways to make money online than by using products like Insured Profits. It’s tempting to try something that’s advertised as free that claims it will earn millions for you but you know the old saying – if it sounds too good to be true, it probably is. If you’re interested in a free product that will show you how to make money online, with real information and no false promises of earning millions, you should try Wealthy Affiliate instead of Insured profits. It’s a real system for learning how to work online from home that will give you a series of steps that you can follow that can, with some effort on your part, produce some real results. It’s not magic, and it’s not automatic, but it is free to join and you’ll learn a lot. It’s a far better way to make money online than by being sucked into a binary options scam like Insured Profits.
We can’t recommend Insured Profits.