Well I hate to use the word scam, However.... on the signup page there is one option and only 1 option with a broker called.
Banc De Binary
At first glance it looks legit, regulated etc.... however then read up on Banc De Binary and nothing but horror stories with trading, withdraws problems, I can't really find any positives with BDB only a **** load of negative problems surround this broker. Now getting back to Insuredprofits, the system might be awesome, it might not be. however the broker you can only use in BDB and I'd stay away as far as I can from this place.
So scam, can't confirm but all the other elements added up it appears a VERY bad decision going down this route. you can have the best system in the world, but the brokers clear the cheques.... My advise stay far away and look up Banc De Binary !!!! see some shocking stuff indeed...