Verified Profits: Verified to be a Scam
Quick Summary of Verified Profits
Rating: 0.3 It's a verified scam!
The Good: There aren't too many video testimonials to listen to.
The Bad: You can't pause the videos except by leaving the website.
The Bottom Line: Stay away from this attempt to rob you of $250. Instead, learn how to build a real business online.
Verified Profits Review
We have Verified Profits.
Am I the only one here who is confused by these similar-sounding binary options scams?
But I digress…let’s start from the beginning with the newest binary options “system” to hit the public, Verified Profits.
What is Verified Profits?
Launched August 3rd, Verified Profits is an automated software robot that is described by its creators as “something that will change your life forever.”
Daniel Walker, head programmer of the Verified Profits system, shows up first and claims that Verified Profits has made its initial round of beta traders in 2014 from $600 to $4,000 per day.
Daniel also states that the system has been in development for the past 10 years. Furthermore, what makes it different is that it has been “100% verified by an independent third party global trading institution.” Incidentally, this independent third party is TradeCertify.net.
“The reason you’ve never seen this before is because it can’t be faked,” Daniel claims. He eventually turns the spotlight over to Simon Young, the CEO of Verified Profits.
Simon regales us with his life story, including such details as his time at Stanford, where he was earning a “master’s in artificial intelligence computer science.” Simon had been working on the Verified Profits system since 2005, but technological limitations prevented him from releasing it to the public. Then, the Internet picked up, as did automated trading systems.
Simon moved forward with development of the Verified Profits system and had some beta testers try it out in 2014. They easily made from $600 to thousands of dollars per day. “We’ve not had a single person that has had a losing day,” Simon claims.
Now, with various banks and hedge fund traders asking to use his trading system, Simon is ready to take it to market six months from now. He plans to sell the system at $10,000/month. He just needs 20 additional beta testers to try the software and have their trades verified by that “independent third party.”
What’s the backstory on Verified Profits?
1. It’s brought to you by…verified scammers.
Every binary options trading scam sounds good up front. It’s not until you look at its affiliate pages that you start hearing the actual truth. And the truth about Verified Profits is that it’s from the producers of the Fisher Method and Verified Trader. These trading bots were both reviewed here on I’ve Tried That and deemed to be total scams.
2. It has good reviews for a good reason.
Verified Profits was officially launched August 3rd, yet it already has two pages of search results singing its praises. All these “objective” reviews have one thing in common: They all contain affiliate links. And little wonder, with Verified Profits offering a substantial $250 commission:
3. TradeCertify looks a lot like VeriTrades.net.
If you read our review of Verified Trader, you’ll note that its trades are “verified” by VeriTrade. The photos of VeriTrade’s officers were found to be stock photos. If you go to the ‘About’ tab of Verified Profits, you’ll see that its trades are “verified” by TradeCertify. Interestingly, the officers at TradeCertify are the same ones as those on VeriTrade.
4. There are fake security seals.
One of the big giveaways that you have a binary options scam on your hands is that it features security and guarantee seals that can’t be clicked on and which lead nowhere. When legitimate software products show security seals, you can click on those seals and see when the certificate or subscription was started, what’s covered, etc.
Shown below are the fake seals for Verified Profits.
5. Fake testimonials abound.
Question: What’s another big giveaway that a promoted product is nothing but hype? Answer: the product testimonials are fake. For example, here are some of Verified Profits’ video testimonials:
By doing a quick Google search on these videos, you’ll find that they are produced by actors. For example, the man shown above has provided testimonials for other products, including another binary options bot called Binary Options Bot.
Both actors provide testimonials for just $5 on Fiverr.
6. Binary Book is your brokerage.
Once I signed up for an account with Verified Profits, I was directed to Binary Book as my brokerage. Binary Book is based in London, not the USA. Overseas brokers are notoriously hard to track and reach if there are any issues. Also, the brokerages are usually not regulated. In the case of Binary Book, I received the following reply when I asked if they were regulated by an agency like the CySEC:
The company itself is in the process of being regulated and the trading platform is fully regulated in Europe.
We are using, SpotOption regulation:http://www.spotoption.com/regulation/
Because the company (Binary Book) is not regulated, you’ll be lucky to get your money back from it should anything go awry.
Summary: Don’t bother with this scam
At the end of the day, you’e better off not counting on Verified Profits to make you money on auto-pilot. The system uses fake testimonials, stock photos and leads you to an overseas broker that isn’t regulated. You’re more than likely going to lose $250 of your own money. Just don’t bother with this one.
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