Old scam review: Insured Profits

Insured ProfitsIn this review we prove that “Insured Profits” is a binary options scam. It is presented by Dave Harringwell.

Harringwell says that together with his friend Steve they programmed a binary options software called Insured Profits.

It allegedly can make you $3,700/day in profit from day one. They say that your profits can only go up, this is why it is called Insured Profits.

Insured Profits is an old scam

This scam is not exactly new, but the principle has been the same since day one. Harringwell and his friends are affiliated with a certain binary options broker and will get paid for every new depositor they can refer to this broker.

This is why they made up this story, they need you to deposit with their broker in order to earn their commission. Their phony software will then lose your money if you trade with it.


mathsThe explanation of the Insured Profits algorithm is really hilarious. One would think that these guys did not even finish elementary school. Look at the picture on the right, you’ll see what we mean.

When tossing a coin with a $20 bet, you make $20 with a win and lose only $2 with a loss? Maths anyone?

Lies, lies and lies

houseIn the Insured Profits video you can see a lot of account statements, but they are all fake. The same applies to the houses and cars and everything you are shown as a proof.

Look at two things. First we have the house that Dave and Ginny allegedly bought in Australia (Form 24) for $1.7 million dollars.

carBut this house is in reality in Costar Rica, it is for sale for less than a million dollars.

Or the Ferrari of their friend Steve. It allegedly is his first own car. He shows a picture of him driving it with his brother.

The problem is that it is a stolen picture from a video that belongs to somebody else.

Not free

depositThe reality is that they will only push you to deposit money with their broker. You won’t be allowed to use the software until you deposit at least $250.

So they force you to risk your own money since trade one and you are not given an opportunity to check how the system really (does not) works.


Insured Profits is a scam that is trying to abuse binary options. The software will just lose your money.

Binary options require learning and testing before you can make real profits. You can try them on a demo account to see how trading really works.

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