Is Verified Profits A Scam?
If you have ever used one of these systems or watched some of the sales videos, it won’t be long before you start noticing a pattern with the names, message, colour, the repetitive sales pitch and so on. It’s like they all sat in a room and were given a similar set of instructions to come up with a slight variation of the same scam. Unless it’s one guy behind all of them but who knows? Verified Profits is no different and I’ll be going into a bit more detail below.
Popcorn time? I’ll grab a bag and get started on the review.
Product Review of Verified Profits
Name: Verified Profits
Cost: Free Software, $250 Minimum Deposit
Owner/s: Simon Young
Rating: 0/10 ☆☆☆☆☆☆☆☆☆☆
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How Does Verified Profits Work?
Verified profits is an automated trading system and the owners start off by telling us that it “will change your life forever.” Don’t you love how they try to build up the excitement?
Firstly we are introduced to a guy named Daniel Walker who’s in charge of the programming team. He explains that the system earned the initial members a daily amount between $600 to $4,000. Imaginary cash means that I’ll pretend to be impressed.
We are also told that the system has been 10 years in the making and has an additional seal of approval from an external 3rd party international trading institute named TradeCertify.net (I’ll explain more about TradeCertify later).
Daniel, our Head Programmer-turned-Salesman, tries to boost our confidence in the product by assuring us that it can’t be faked, which is why we haven’t come across anything like it before.
Our attention is swiftly directed to a guy named Simon Young who is the CEO of Verified Profits.
Simon attempts to amuse us with his life experiences and his education at Stanford. He tells us about his master’s degree in A.I. computer science which sounds questionable if he actually has one. He then further explains that his work on Verified Profits started in 2005 but was hindered by limits to technology and as a result wasn’t released to consumers. Luckily for Simon, the internet gained momentum, along with automation trading software.
Simon continued with progress on the system and got some traders to trial it in 2014. He claims that the traders earned a daily amount between $600 – $1,000 with relative ease. On top of that, he also claims that nobody has had a losing day. I find this hard to believe given that the trading model used here is based on a 50/50 chance.
We are then given the classic carrot on a stick scenario where Simon explains that a number of banks and hedge fund traders are queueing up to use his system. He is looking to make it available to them in 6 months time and will be providing it at a cost of $10,000 per month. Before he does this, he needs a few more testers to trial the system and get their trades approved by the trading institute named TradeCertify.net. Remember them?
The Real Deal about Verified Profits
(a). We’ve already seen a version of this before.
Binary options scams always appear to be legit until you take a look in the background and see the affiliate links (explained in my next point), then you realise what’s actually going on. The only thing that is certain about Verified Profits is that its made by the same scam artists that own Verified Trader, which is another scam with a countless number of disgruntled customers that have lost their money.
(b) Why does Verified Profits have shining reviews?
The system has been on the market for a couple of months and has a lot of outstanding reviews. But wait! Who are these people that are proving these reviews? Shady marketers who stand to profit from your referral if they convince you to sign up via their affiliate links. They receive a pay out of $250 commission for their troubles and it’s no wonder they are giving such shining reviews.
(c). TradeCertify is similar to VeriTrades.net
It seems that TradeCertify.net was too lazy to find their own stock photos for it’s imaginary board members so it borrowed the same ones used by VeriTrade.
Verified Trader, mentioned earlier, was certified by VeriTrade so it comes as no surprise that these folks are all in bed together i.e. the whole thing is run by the same people.
(d). Are the Security Seals worth trusting?
If you look at some of my previous reviews you will notice that fake security badges are a hot favourite among scammers. How can you tell that the badges aren’t legit? If you try to click them you will notice that they don’t show anything. If the badges were genuine, you would be able to click on them and view the certificate and/or subscription dates and so on.
Don’t believe the fabricated security seals shown below.
(e). What about the customer testimonials?
Providing customer testimonials is a powerful way of showing potential customers that genuine people stand behind a product. But in this case Verified Profits have paid some actors to provide fake testimonials. The actors shown below have done similar testimonials for other products.
Below is a video that I found on Youtube from the same male actor giving a review on another product named Binary Champ Bot. He didn’t even bother to use a different t-shirt.
The two actors can be hired from Fiverr for a small fee of $5 to give convincing testimonials.
(f). Who is the Broker?
Upon signing up to Verified Profits you will be taken to a broker named Binary Book who are based in London. Binary Book’s trading platform is regulated in Europe but the company itself are not regulated and are still undergoing the process of getting regulated. This means that if anything goes wrong, you will find it very difficult to get your funds back from them.
My Conclusion
You are better off putting your money to better use and learn the correct skills to build a real online business. Keep away from Verified Profits and save yourself $250 or better yet put the money into my popcorn fund 🙂
Verified Profits will NOT earn you millions while you sleep. If you are considering quitting your day job on the back of Verified Profits, please hold on to your job a while longer. As you can see from the examples provided above, the system is promoted using underhanded practices. And that’s all I have to say about that.
If you’ve used Verified Profits before or are considering using it please leave your comments below.
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Hi Jay,
As you pointed out what a complete bunch of crap this “Verified Profits” scam online business opportunity is.
The founder Simon Young tries to provide the Kool-Aid drink to the gullible with the lie that you could earn more than $10,000 plus per day simply by following his “proven” system! Really? It’s almost pathetic that naive individuals probably would buy into this load of crap as they’d have dollar signs dancing around in their heads.
I almost laughed at what you stated through Young’s telling the story that his company has been around since 2005, yet he could not promote it online as much as he wanted to due to “limitations in technology” on the Internet. What a bunch of horse manure!
This guy has more garbage coming out of his mouth than can be seen in trucks that collect on my street every Tuesday morning. You included the fancy image, all a lie showing the “money” that a person earned through this fraud opportunity. There were also the fake testimonials coming from actors, paid to try and con the stupid into believing that this scheme is real.
I completely agree with your grade of 0 out of 10. Too bad you couldn’t issue you this scam with a negative grade, but I guess that your readers would get the hint anyhow that this opportunity would be one to steer clear of as it would represent a minimum investment of $250 being thrown down the proverbial toilet.
Great review Jay,
Sincerely,
Jeff
Hi Jeff, I see that you’re just as passionate about exposing scams as I am. A negative grade is more appropriate for these fraudsters. If Simon’s system really makes $10,000 per day then why does he need to sell it to the public? That one point alone already rings alarm bells. I won’t stop whistleblowing these fake products and I have already saved a lot of people money, which gives me great satisfaction.
regards
Jay
I enjoyed your website. Very clear and free. It is ashamed how people are using paid actors to scam people into buying bogus products that don’t work. Working on your on terms is fun and constructive. A strong supporting community is all you need. You really laid out the platform of how to start your own business.
Hi Derek, the problem with scams is that they do a fantastic job at selling a wealthy lifestyle, people get caught up in the fabricated end result and pay for a product without researching it further or seeing how it really works. I don’t like scams and the damage they can do to people’s finances and progression. They give honest websites a bad name. Thanks for reading 🙂
Jay.
Hi Jay
Great website. Great style. I think I have more questions than comments. Where did you get all the graphics. I really like your style of writing, with all the great head lines and colorful emphasis, etc.
I like your subject. While it is important to be mindful of scams, keep your website positive. Write about what to do, rather than what not to do or complaining about what someone else is doing.
I also suggest writing about home office stuff that is not directly related to Wealthy Affiliate. Make your site about helping your audience be successful, rather than just promoting Wealthy Affiliate. Keep promoting Wealthy Affiliate, just make your audience’s agenda the focus of your website. Peace and prosperity be with you.
Hi Bob, thanks for reading my review. I got the graphics from the scam site then used photoshop to add my own text and crosses. I have been balancing my articles between scams and useful guides. Although the topic of scams is a very negative one I always provide a positive alternative solution at the end of the articles. I hate scams, I’ve seen what they do to people and I’ll continue to expose them. They give honest hard-working online workers, like you and I, a bad name. My scam reviews have already saved a lot of people money, which gives me great satisfaction. I love helping people in this way. Thanks for reading 🙂
Jay