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Smart Profits Review – It’s More of Being Lucky than Smart

Filed in Product Review by on September 16, 2015 10 Comments

smart-profits-review

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Product name: Smart Profits

Product owner: Kevin and Tom

Website: smartprofits.org

Price: Free to join

Verdict: Not recommended

 

Smart Profits is just another out of many other binary trading programs that promise you huge profits made every day almost on a complete autopilot. The idea is very popular and the number of programs promoting it has been steadily growing over the past few years and the process doesn’t seem to ever stop.

Almost all binary trading programs claim that they will show you some sort of a secret that no one else knows, that they cracked the code and now want to help you start making tons of money.

Almost all the programs claim that their system is extremely accurate and you are guaranteed to make money most of the time.

Kevin goes as far as to promise to reveal you a method that makes him $456.018 a month. Would you believe in this? Keep reading because I’m going to reveal all the truth about binary option programs and YOU will make your own decision whether to join Smart Profits or not.

 

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Pros of Smart Profits

  • You possibly can make money if you’re willing to learn binary trading method from a reliable source
  • Live chat
  • Trial mode

 

Cons of Smart Profits

  • Kevin makes unrealistic promises
  • Kevin’s guarantee is just an empty promise
  • Earnings are extremely exaggerated
  • The method involves a high level of risk
  • Requires investment of $250 that won’t be refunded

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Inside the program

 

Learn from others’ mistakes

As I said above, all binary option programs make the same bold claims and promise you ridiculously large amount of money which in my opinion is INSULTING to anyone who has a sense of reality.

Just imagine that thousands of people are struggling online to make a few thousands of dollars per month and Kevin comes out with his amazing system and promises almost half a million dollars by simply using his fully automated system.

My brother has been involved in Forex currency trading for over 5 years now which is similar to trading binary options and lost over $30.000. He is still involved in this business because he simply can’t stop.

He is a risky person and even I would say he is a gambler and this type of business is very similar to gambling. Sometimes he makes $1000 and then loses it again and it continues over and over again.

The problem of this type of business is that if you make let’s say $1000 and you want to make more and invest your earned money back in the system in the hope to double your income you lose all your profit again.

And it continues over and over again until you realize that you have wasted all your budget. EVERYONE WANTS TO BELIEVE THAT THEY WILL HAVE A BETTER LUCK ONLY TO FIND THAT IT’S JUST A DREAM AND EVENTUALLY THEY JOIN THE ARMY OF LOSERS.

 

Is Smart Profits different from other binary programs?

The only thing that I really like about Smart Profits is that they have a live chat feature. This is really good and refreshing. They don’t hide behind the system. Of course it in no way increases your chances to become a millionaire but anyway it’s cool and you can at least ask questions and get support. But I’m not sure if their support is as good as it should be.

 

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Are you ready to risk your money?

Take a look at Smart Profits’ earnings disclaimer and think twice before you invest your hard earned money. Don’t you think it contradicts to what Kevin has promised you in his promo video? HE CLEARLY SAYS THAT WHAT WORKS IN YOUR FAVOR CAN ALSO WORK AGAINST YOU.

Like I said you above, before investing your money Kevin also recommends to carefully consider your level of experience because trading binary options involves risking money and SMART PROFITS IS NOT RESPONSIBLE FOR ANY OF YOUR FINANCIAL LOSSES.

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Binary options and fraud

As I mentioned above, trading binary options is a risky venture and EVEN KEVIN AFFIRMS THIS FACT IN THEIR EARNINGS DISCLAIMER. SEC and CFTC also warn people like you and me against investing money in this type of business opportunity.

And the reason for such warning is a high number of complaints received from people about internet-based binary trading programs. It doesn’t mean that all binary programs are scams but most of them ARE. Look at the images below and you be the judge.

Binary-options-by-SEC complaints1 warning

 

Don’t gamble on binary options

According to Forbes (forbes.com) binary options is similar to gambling. Gordon Pape clearly says that binary options sites are nothing more than gambling sites.

His article is really informative and explains very well how binary platforms work.

I encourage you to read his article because as you probably know Forbes is a reliable source of information and it’s mush safer to trust Gordon from Forbes than Kevin from Smart Profits.

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Invest more to make more

Almost all internet-based binary programs including Smart Profits encourage you to invest more money in order to make more money. The more you invest the more money Kevin and Tom will make off of you while there is no guarantee that YOU will make any money at all.

They are affiliated with bee options. It’s true that you can join the program for free, but you can’t make any money until you invest the minimum amount, i.e. $250. Also, you can try the system with trial account with virtual money before you start real trading.

But even if you can trade successfully using your trial account it never comes close to trading with real money. You need to be very careful.

 

You can win as much as you can lose too

The main problem with binary trading starts when you choose a long term trade vs short term trade because money is lost at long term trades. The more you invest the more money you can potentially lose. Long term trade can make you the most money and can lose the most money too.

 

Are testimonials real?

The testimonials Kevin uses on his website can’t serve as a proof that their system really works and makes people a lot of money.

I can’t prove that testimonials on their website are fake but I’ve seen many testimonials like this and to be honest I’m very skeptical that they are real.

Anyone can order a testimonial for $5 at Fiverr.com like one at the image below.

 

fake-testimonials

 

Is Smart Profits really 100% accurate and can guarantee income?

Kevin and Tom assure you that their software is perfect and you are guaranteed to make money if you follow their instructions. If it’s true why do they need you as an investor? They can make millions of dollars using their own system. This means there is something wrong.

The truth is that when you join Smart Profits you need to register an account with BeeOptions and make all your trades through Smart Profits team, i.e. Kevin and Tom which means they will make money each time you invest your money.

They promise that their software is designed in a way to protect you from losses and minimize any risks of losing money. This can’t be true because no one can predict market with 100% accuracy.

 

Can you make money with binary options without experience?

Even experienced traders lose thousands of dollars in this business, not to mention people who are just starting out.

To be a successful trader you need months or even years of experience that requires understanding the market, knowledge in the field of economics, politics BECAUSE YOUR PREDICTION OF THE MARKET IN MANY CASES IS THE COMBINATION OF ALL THESE FIELDS OF KNOWLEDGE AND EXPERIENCE.

Trading bots simply can’t predict the market because successful trading REQUIRES A HUMAN FACTOR. If it was so easy then everyone would quit their regular job to become a millionaire on autopilot.

 

Final word on Smart Profits

1. In my opinion, Smart Profits is a controversial program and I really can’t say that it’s 100% a scam but there are many good reasons to not recommend it. The only positive thing about this program is that they have a live chat which makes it different from other binary programs.

2. Kevin makes unrealistic promises and claims

3. His guarantee contradicts to Smart Profits’ earnings disclaimer

4. There is a warning from Forbes and SEC and CFTC

5. There is no money back guarantee

6. Kevin says clearly that binary trading involves a high level of risk

If you want to join the program it’s up to you. I personally don’t recommend it.

 

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About the Author ()

My name is Rufat. I'm the founder of Your Income Advisor. My goal is to help others succeed online, by exposing scams and reviewing top rated products. I can help you start your own business online

Comments (10)

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  1. Kelara says:

    Informative article. I had only heard of Binary Options briefly and didn’t know much about it. There was a company earlier this year that I considered joining, however, I never took the time to look into it closer. Now I know it was for the best. Your article is a lifesaver for people who are uninformed about this obvious scam. It really goes to show that if it sounds too good to be true, it usually is. Thanks so much for writing this post. Keep up the good work. Regards, Kelara

    • Rufat says:

      Out of many other binary trading programs that I’ve reviewed for the last few months this one looks not bad. At least they have a live chat option and you can ask questions and probably get answers. But anyway I wouldn’t join program like this one because there is no information if brokers they work with are legit or not because if they are unlicensed you can run into a serious issue. If you don’t have a proper knowledge and experience I wouldn’t recommend to get involved in this business at all.

  2. Peter says:

    Hi Rufat,
    Another binary options program out to get our money. I had always considered binary options as a form of investment, but thanks to this review and the article on Forbes I now understand it’s really no less than a form of gambling. This means wild promises of making large sums of money can’t be taken seriously. The only real winners are the Bee Options, Kevin and Tom.
    I suppose having a trial account could be a bit of fun, but even that is really just wasting your time as it will take a long time before you start to understand the markets. Much better to use this time to build a real business.
    Thanks for the great review.
    Peter

    • Rufat says:

      I totally agree with you Peter. Though binary trading as an opportunity is not a scam I never recommend it and for good reasons. Your level of success depends on the level of your knowledge and experience and to succeed in binary trading you really need a lot of knowledge, experience and some luck too. You must understand markets, finance etc. Trial mode is a fun but even after trial mode you are going to trade with real money and there is no guarantee that you won’t lose your money. And I agree about the winners in this business. Making large amounts of money is hard in any business, especially in binary trading. In my opinion, it would be much better to build your own business that involves zero risk to you and your money and that is affiliate marketing.

  3. Seviedean says:

    Hi Rufat :) I have had so many people talk to me about binary trading but I don’t have to look far or search very hard to find reviews like this one…I look at your recommendation verdict and see only the ‘NO’ in caps! That’s what my gut says and you seem to agree with my gut, so thank you…I’m going to shelve this money making concept and go back to focusing on what’s real. Thanks so much for a very helpful review.

    • Rufat says:

      Hi Seviedean. I’m glad you like my review and find it informative and helpful. The situation with binary trading programs is really difficult and a bit confusing for most people. Most people want to make money and they want it fast and in large amounts. Reality is absolutely different. Binary business as the opportunity in itself is not a scam and some people are successful with it, but the truth is that most people can’t make even a few hundred bucks. Like any other business, online or offline it requires a lot of effort and patience and this is exactly what most people don’t have. When it comes to Smart Profits it’s really a bit different from other programs. I’m really surprised that they offer a live chat which is refreshing in the world of online binary scams. Anyway, this type of business is risky and it’s not for me. So, I have to agree with you on this.

  4. ike says:

    like your post

  5. Karl Lambert says:

    Nice review. You discussed smart profits memberships in detailed. And Based on your review, I might say that joining smart profits gives you strong guts to decide whether to join or not. Not sure if you would really make money with them. It is really a gamble out there. And no money back guarantee

    • Rufat says:

      Hi Karl, I think so too. In my opinion, joining smart profits is not worth the time and money. Like with any business it requires time and effort to gain enough knowledge and experience before you can start seeing any profits by trading binary options. The problem with most binary programs is that their owners mislead people by promising them quick profits by simply joining the program and clicking on the buttons. They never tell them the truth that it takes time before you learn how to trade successfully in this type of business. That’s why in most cases I never recommend binary programs because in fact it’s more of gambling than building a proper business.

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