Binary Scam Alerts

insured profits

A Summary of All Binary Options Scam for January 2016

by Leave a Comment

If you have been emailed or contacted regarding the Centument App, Citidel Software, Einstein Profit Method, Phoenix Trading, Global Millionaires Club, Medallion App, Insured Profits, or the Free Money System (Walter Green), you will want to read a recap of the scam reviews and investigations our staff conducted.

Centument Scam App and Gerald Reed the Actor
This piece of malicious fraud software will make you lose your money very fast and infect your computer with a Trojan Horse that will steal your personal information. The level of sophistication and false advertising tactics employed in this scam will send any cyber-criminal to jail for an extended period of time.

Citidel (Citadel) LTD Investment App and Dr Kent Grifly
This dirty scam is hands down the nastiest and most manipulative attempt to deceive and victimize innocent day traders into registering and funding a broker account under false pretenses. Anyone promoting this fraudulent app should seriously look in the mirror and ask himself how far he is willing to go to get his hands on the blood money sucked out of unsuspecting customers. This app will also infect your computer with a Virus that will lock you out and ask for a ransom.

http://binaryscamalerts.tumblr.com/post/137939858054/citadel-ltd-and-dr-kent-grifly-is-a-malicious-scam

The Einstein Profit Method
This is the cheapest and least sophisticated scam, the people who created this crummy software decided to invest the smallest amount of money and defraud people as much and as fast as humanly possible. There is nothing believable, honest, or genuine about this app, and that is a verified fact. The use of second rate actors and fake testimonials is so blatant and unsophisticated that it practically screams fraud.

Phoenix Trading
This is a really interesting scam which employs the use of a fake registration form and forged certifications to give the impression of a reputable service, when in reality this thing is a big fraud. William Johnston does not exists, he is just a fictional character devised to sell you an empty bag of nothing.

Insured Profits
Dave and Ginney are the all time scamming duo who will deceive and trick you into opening a trading account with some shady broker operating out of a creepy country like Uzbekistan or Sri Lanka, where people will sell their mother for a dime.

The Free Money System (Walter Green)
The Green Machine will rob you blind and send you to the cleaners. This is probably one of the biggest online deceptions ever carried out and recycled by thieving affiliates wanting to rip you off and get commissions for paying customers.

Other Scams that Keep Resurfacing
Binary Matrix Pro, Mockingbird Method, Coffee Cash Cheat, Channel Ranger, Binaryapp 810  (John Callaghan), Cash Code, Millionaire Blue Print, Fast Cash.biz, Google Trader, Dow Focus Group, Medallion App, Profit Maximizer, Profit Magnet.

Learn How To Avoid Getting Scammed
It’s not enough to complain, you also have to educate yourself and understand how these fraudulent schemes operate so that you can identify them and filter them out immediately from the start. Contact us by email at [email protected] in order to get free access to our 10 Point scam screening guide and you will be in essence “Scam-proof”.

Signals, Automated Trading, Bots
If you Google it you will find a lot of hype these days about bots, I personally do not recommend any of them since it’s basically giving someone or something else complete control over your money. If you have to go with bot Virtnext is the one I recommend this time, however signals and strategies are always my preferred tool.

Insured Profits is a Spam Scam Be Careful

by Leave a Comment

Despite all the negative reviews Insured Profits is still continuing to scam people in a very effective way. Here’s a description of one of the most sophisticated binary options scams and how its done.

insured profits spam

  • Category: Investment Scam
  • Address: Unknown
  • Name of the Con Artists: Dave and Ginny (Actors)
  • Method of Operation: Primarily Spam, but Also Phishing, Hacking, False Advertising
  • Download/Install Required: Yes
  • Malware: Yes
  • Contact Mail:  [email protected]
  • Official Site: http://insuredprofits.com/indext.php

Insured Profits Scam Comprehensive Review
Dave, Ginny, Steve, Andy are a part of a team of professional actors paid to promote a binary options scheme dubiously named Insured Profits.

Main Sales Pitch:
The main claim or solicitation is the false claim that for every $20 invested you stand to make that amount back including 75% ROI, and for every trade lost only $2 would in reality be deducted from your trading balance.

Why is this a Scam?
The mathematical flaw is  embedded in the actual logic (or no logic for that matter), there can be nothing like this, and even investment giants like Goldman Sachs or Bank of America Merrill Lynch don’t have these types of return on investments.

How Are Victims Targeted?
The creators of this scam employ various types of tactics, however the use of SPAM Email marketing is the preferred method. Sometimes you signup for something and are not fully aware that this service is actually selling your email and personal details to a third party, or altogether spamming his lists in the hopes something pans out.

False advertising is also a very prevalent tactic used to solicit unsuspecting traders. For example, “this system can make you $100,000 a day” is really a common practice, and while people usually overlook this it should be known that it is a crime and people pay fines and/or serve jail time for unlawfully deceiving people this way.

Hacking or manipulating Google to index fake sales pages while using commonly used keywords is another way to target victims. In fact, there is a growing trend now where opportunistic hackers are copying content from reputable sites and displaying it in a deceptive fashion. I won’t put the link here because you will click it and then your computer will be infected with malware.

Phishing is when someone poses as a legitimate entity to illegally obtain financial information such as credit card, bank account, social security, or password details. If people contact you to obtain this type of information, make sure to report them to your local authorities or otherwise simply move on.

Spyware is an additional method employed by marketers, and this is used to track your internet surfing habits and sell you relevant offers or promotions.

Other forms of fraud include credit card fraud, debt collection, fake checks, lottery scams, moving, fake invoices, Email Spoofing, the Nigerian Scam, tech support scam, and identity theft.

Similar Scams
The Free Money System (Walter Green), Channel Ranger, The Mockingbird Method, Coffee Cash Cheat, Binary Matrix Pro, and Dow Focus Group all use similar tactics and they will surely steal your money if you register for their service and with one of their shady recommended binary options like Interactive Option or Optionmint.

How to Protect Yourself
One way to do it is to make sure you deposit funds with websites that are HTTPS secure. This can be identified with the padlock in the URL of the site. Another way is to check the Better Business Bureau website, or sites like ripoff report which are usually the first ones that get the scam reports.

HTTPS Secure Site

Summary and Conclusions:
Insured Profits is a malicious, deceptive, and dirty binary options scam designed to trick you into downloading viruses into your computer and stealing your credit card and personal information. If you want to report or submit a complaint in order to recover stolen money and get a refund please leave a message below the post and our staff will contact you accordingly. On a side note, this app is also available on Android as well as IOS. If you are looking for an alternative solution in the form of signals or automated trading tools, make sure to contact us at [email protected]

Most Used Binary Options Brokers Scam Tactics

by 1 Comment

After searching the net and looking for the most insidious and criminal techniques brokers use to scam traders, I found out a variety of methods which if used by a talented sales agent can have a seriously detrimental effect on your household income and ability to finance yourself. You need to be extremely careful with these crafty brokers, and think 50 times before providing your credit card information to someone half way around the world getting paid a very low base and high commissions based on his ability to squeeze deposits from innocent would-be traders. This post is divided into 2 sections, the first is for customers who have never invested, or alternatively will be investing with the broker for the first time. The second section is for traders interested in re-investing.

Scam Brokers

Tactics Used on First Time Investors
So, you saw this movie about some guy who has access to some loophole and has invented a method which can make you thousands of dollars a day without any effort. OK, let’s say you are intrigued for some reason and would like to fund your account. If you have just registered expect a phone call from a pushy sales agent pretending to be a broker. He get’s paid if he gets you to deposit, but he get’s more if you deposit a higher amount. His job is to get you through the door and gift wrap you to the real cash grinders, the people who will sell you bottled air and snake oil in their sleep.

Promises of Wealth and Riches
The first person you speak with will sell you the dream, that is what he’s paid to do. Now remember, if you go to a serious brokerage they don’t talk like this. Usually they will ask you for a minimum investment of let’s say $100,000 and give you a reasonable return on investment with a range of 3%-12% depending on the level of risk and exposure. Obviously if you are buying government bonds you are relatively safe but you won’t see much. If you invest in emerging markets then the risk is huge, but the profits are there and they are real. So, if the company representative is laying it on thick, take a step back and reconsider your options.

Agent Machine Guns the Sales Script
If you pick up the phone in many cases you will experience a rehearsed script harping on the usual points: Educational tools, strategies, account management, bonuses, insurance or risk free trades, and depending on the broker you will hear about regulation (or not). When you start to hear these things stop what you are doing and hang up the phone.

Dirty Sales Tricks
If you have ever been to a bazaar you will notice the shop owners haggling with customers. This is very much the same atmosphere you have on the trading floor, only here they will be extremely aggressive and always try to get you to fund your account. Some tactics may include sentences like “What do you mean you don’t have money? You can afford a dinner at a restaurant right?”, or “I can pretty much guarantee that if you use the methods we offer you will make a ton of money”.

If you are sold on this then at least document your conversation because you may need it later on.

Tactics Used on Traders Wanting to Re-Invest
Advanced Fee: It’s just a tool to get you to deposit money without really having to be accountable for the performance. Brokers call it fluff money since they use it for buying alcohol and other amenities for the trading floor.

Credit Card Fraud (Overcharging): The classic and most vile tactic is to overcharge your credit card. The better brokers have a very strong compliance department which forbids this, but some of the shady ones like Optionmint, Zenith Options, Cedar Finance, safe24options, Traderxp, Optimarkets, XPMarkets, Amber Options, Regal Options or Interactive Option will over charge you left and right.

Withdrawal Deception: They will tell you anything and use every loophole to get you to reverse or cancel your withdrawal request. Make sure to take screenshots and document your account status at all times.

Bonuses Credited on Wins to Avoid Cashing Out: This is a really dirty trick used in order to void your withdrawal request. If you have a bonus then you would need to trade a certain volume to qualify in order to collect your money, but if you have a bonus in your account then you can’t withdraw.

Documentation and Bureaucracy Used as an Attrition Tool: The documentation process of getting you to provide a photo ID, Utility Bill, and photos of credit cards is used as a fig leaf to hide the true intention of procrastinating with the intent of cancelling withdrawals altogether.

Fake Wins: Fake wins or Photo-shopped wins are used as a method to solicit money from traders under false pretenses.

Trading for You: A Senior Broker may address you and try to convince you to trade on your behalf. If you sign a document allowing him this, or alternatively agree to it on the telephone you are pretty much mince meat and they have you by the balls.

Balance Depleted: One day you have $5,000, and the next day it’s down to $5, how can that be? The trading history shows someone traded, but it sure as hell wasn’t you. Well, unfortunately you have just been ripped off in a most despicable way.

Demo Account: At times these will be used to solicit your private information so they can spam you with phony offers and call you up profusely.

Intimidation Tactics: This is really a way to appeal to your fears and insecurities and bend your arm. In many cases there is a carrot and stick system which is employed by either one or a couple of Senior Brokers.

Tax ride-off: This is a way to let you think you can report this as an expense and get your money back from the authorities. Nothing can be further from the truth.

Deny Requests to Return Funds: Sometimes a person realizes he makes a mistake but can’t undo his actions. In all fairness, if the broker has followed his own rules then the person making bad decisions has to pay the price in some way or another, unless he was falsely led to believe something.

Unusually High Fees for Cashing Out: This is used to discourage you from taking out your money. Insane fines are also levied for not meeting trading requirements when trying to withdraw.

Posing as a Legal Entity: Calling as a third party and demanding money be sent to broker due to a commitment is something we have seen done as well by scammers.

One-sided Agreements: Forcing traders to reconfirm their transactions by signing documents in order to avoid financial disputes is an everyday occurrence. By the way, this is done by a lot of businesses.

Switching Account Managers: This is done in order to reduce tension and switch tactics after major losses have been absorbed.

Promises of Rolex Watches and Fancy Cars: This is usually a way to hype up heavy investors or people who are into “the lifestyle” and don’t mind losing their money as long as they have a good time. But still, they may use this on just anyone to get him hyped and in the mood.

Asking for Your Password: DO NOT give anyone your password, and if they ask you for it make sure to record the conversation because that’s illegal.

Lack of Communication: Usually when a scam has run it’s course the level of communication will drop because they will want to deal with the new traders and try to get some money out of them.

False Advertising of Trading Tools: For example ITM trades at over 90% is not logical and that should send a flair up in the sky.

Pressure Tactics: At times they will contact you and try to give you a match offer, but in reality it’s a bonus and you can’t really win with that unless the volume requisites are low.

Software is Rigged: Just can’t win? Well, there’s something behind it and you can really feel that you are trading against the house. That’s because someone has adjusted the payout percentage in their favor – and it’s not you.

Email and Password Not Valid: Have you just been locked out of your account and can’t seem to log back in? I really hope you took some screenshots of your account before and don’t faint easily.

I believe anyone with eyes in their head and a bit of common sense can get the picture of how some of these scam brokers operate. The real problem is separating the wheat from the chaff, because there are some really good brokers out there and some solid systems with very good payouts. For example effective signals combined with a reputable broker means you will definitely make money, maybe not millions but it’s really a good way to supplement your income or alternatively quit working altogether and become a full time day trader – but only if you have the proper training and are willing to risk significant amounts of money and time. On the other hand, if you are tricked into using fraudulent offers like the free money system (Walter Green), Insured Profits, or Channel Ranger, Binary Matrix Pro, Oz Bot, or Mockingbird Method, you will surely lose your money because there is nothing there except hot air and affiliates trying to get paid on the back end.

Bellow you will find a list of additional sites where you can report binary options scams:

ripoffreport.com – General consumer awareness and information site.
sec.gov/whistleblower – This is the SEC whistle blower site.
bbb.org/scamtracker/us – Better Business Bureau
scamwatch.gov.au/ – Australian Competition and Consumer Commission
asa.org.uk/ – Advertising Standards Authority
ftccomplaintassistant.gov/#&panel1-1 – Federal Trade Commission (FTC)
fbi.gov/scams-safety/e-scams – FBI Website
Binary Scam Watch Monitor – Well known watchdog site for binary options
binaryoptions.net.au/ – Good for Australian binary options traders.
forexpeacearmy.com/ – Very rough site for reporting scams.
cad.gov.sg/ – Report a scam to the Police if you are in Singapore
sida.se/English/contact-us/Whistleblower/ – For Swedish Residents
securities-administrators.ca/Fraud.aspx – For Canadian residents (Canadian Securities Administrators)

 

Insured Profits Scam By Binary Options Watchdog

by 4 Comments

Hi Guys, as I mentioned in my previous Insured Profits Review, the whole concept of using a coin to illustrate how a hedging system was developed where if you risk $20 you can only lose $2 but win double the amount is not only infuriating, but also offensive and insulting. While Michael Freeman has obviously reached the right conclusion, his approach is less systematic and he fails to dissect all the scam components in a more scientific way.

Insured and Channel

First of all, he does not discuss the core argument and instead he reaches the right conclusion using his previous knowledge of scams using BinaryVerify (a fake third party verification system) and binary matrix pro.

Secondly, he does mention the people there are actors but he does not focus on additional key elements like the fake income statements page, and he also does not go to the trouble of really comparing it to other scams like the Channel Ranger.

Finally, while he does mention there “is no real value” in these offers, there is a lack of focus on the most important fact which is a complete and total lack of transparency. In the end, no one really knows what they are getting into with this pack of lies and deception, however this is not addressed either.


Insured Profits Scam by binaryscamalerts

Michael Freeman and Binary Options Watchdog is an excellent point of reference, however if you really want to get your fact together you can’t rely just on one source. The same is true for everything else in life, you need to look for various resources to get a more comprehensive picture of reality. This is true not because I am better or smarter, rather because no single person can have all the insights. That’s why businesses have brainstorming sessions and fortune 500 company CEO’s talk to their employees.

Digging in Deeper
Right off the bat you can see that there is a common theme which accompanies this review as well as the rest of his posts. The focus will always be around five major elements

  1. The actual scam, who the people behind it are (in broad strokes) and how deceitful it is.
  2. Some type of signal or automated trading (bot) service.
  3. Reference to binary options brokers
  4. An appeal to leave a message at the complaints center
  5. A request to leave a replay or comment

In professional terms he is using what’s called a boilerplate, which is moderately changed from time to time in order to resonate or produce a feeling of a constantly changing and dynamic environment.

When you read enough reviews you tend to pick up on styles, and Michael has a very creative and juicy style of writing, however it is somewhat rigid in form due to the nature of niche. It’s worth mentioning that re-inventing yourself over and over again is an arduous task which most people fail at (myself included in many cases). I do like the fact that he does talk about regulatory entities like the CFTC and FINRA, but this is only mentioned in a by-the-way fashion in this review.

Michael Freeman

Summing up, while I do like Michael Freeman’s style and the work that he is doing, when it comes to Insured Profit’s his scam review and analysis falls below his usual level of professionalism, and I for one would like him to keep writing more in-depth and controversial articles, and focus less on the obvious or superficial elements of exposing an obvious scam.

If you believe this article to be somewhat helpful please let me know by messaging me below as it is a source of inspiration for me and keeps me going.

 

 

Insured Profits is a Scam Warning Avoid at All Costs

by 12 Comments

What if you could toss a coin and every time you win, you would get $20 but every loss would only cost you $2? Well, the story  as it’s told by Dave and his brother sounds very convincing at first impression. The fact that his wife came in “unexpectedly” also added to the mystique, but when you take 1 minute and start thinking about what’s happening, you will immediately understand it’s a class A scam, and this review will prove it without a doubt (and make sure to watch the video as well).

So here we go, if scroll below the yellow button that says “click here to access your free copy now” you will reach the so called “income statement”. However, as I mentioned previously in my reviews, it’s easy to spot a fake from a real because this is just a rehashed java script data feed which is used in the channel ranger scam, only the color scheme is different.  Furthermore, the download button won’t work. It’s just something they use because it seems to appeal more to certain people for some reason.Insured and Channel

If you take a look at the payments, username, history, and all other data you will see that it corresponds in the exact same way. Remember, the only information that is relevant is what’s going on inside the broker’s trading history section. If these thieves don’t show you actual consistent wins from inside the broker accounts, you can give them the royal finger and even send them a nasty mail if you want.

So again, we’re talking about the same people doing their usual gig and trying to coerce innocent people into spending their hard earned-money. Now here’s the thing, the people who buy into these make money schemes are penniless in most cases.

I mean, unless you are filthy rich and want to burn money for fun, or alternatively a spiteful wife with a hefty credit line you will actually want to use this bogus system to supplement your income or actually quit your day job and become a full time trader. The people who really want to invest won’t try out the Insured Profits scam, they will go to their investment banker or Goldman Sachs and pull out money they have saved up from businesses, inheritance, or actual life savings from hard work.

OK, so let’s continue debunking these false claims of riches. I still don’t understand what I’m buying. Is it software, is it a strategy, a voodoo doll, or a rubber ducky? Point is, these guys are just throwing a bunch of made up stories at you, but in the end there’s nothing more powerful than the truth. And if you consistently lie and deceive people, not only will your soul rot in hell, but you will also end up paying for it in this life because of bad Karma, and that is what I wish for people who prey on the weak.

Insured 2

So now that we fully understand that there’s nothing behind this nasty fraud, the next question you need to ask yourself is what DOES work? Well, not many things do and to be completely honest if you really want to make money you need guidance and solid tools like signals to assist you before you actually start executing trades. Recently John Thiel from Binary Options Analyst found an interesting strategy, where if coupled with certain signals tools can provide optimal results and excellent performance.

http://binaryoptionsreports.tumblr.com/post/135696564937/insured-profits-scam

OK so, here’s a quick recap, Insured Profits is a Scam, and the people behind it are not too different from Bernard Madoff. These guys Dave and Steve and the wife Ginny are just actors with an accent similar to Devin Miles from Channel Ranger. If you found this review to be useful please let us know by sharing your thoughts. Thanks, Pat