Ensuring the safety of insect-based products (IBPs) is essential considering their potential as food source in the future. Among food contaminants, heavy metals represent a concern for food safety. In this study, the concentrations of lead (Pb), cadmium (Cd), and nickel (Ni) in 52 IBPs marketed on European e-commerce were assessed. The analyses were conducted with Graphite Furnace Atomic Absorption Spectrometry. The impact of consuming IBPs on the toxicological reference values for each analyzed heavy metal was also assessed, to characterize the potential human health risks. Results showed a statistically significant higher concentration of Pb in products containing a percentage greater than 50% of insects compared to those with lower percentage of inclusion. Specifically, 70% of samples containing 100% insect powder exceeded the Pb levels established by regulation, while 10% exceeded the Cd limits. The Ni values, higher respect to other studies, were compared with the mean values reported by the EFSA monitoring plan on foodstuff, showing that our data mainly fell between grain and other vegetables products, which have a greater nickel content respect to products of animal origin. According to EFSA, the health risk assessment conducted suggests that consuming products containing A. diaperinus, A. domesticus, L. migratoria, and T. molitor as proposed does not significantly contribute to overall dietary exposure to heavy metals. However, 4.24% of the Margins of Exposure for Pb were above 1 but below 10, suggesting a very low health risk, while 12.30% of the Margins of Exposure for Ni were lower than 30, indicating potential health risks for sensitized individuals. The importance of rigorous monitoring of heavy metal contamination to ensure the safety of IBPs and the need for continued research to mitigate potential health risks associated with their consumption were highlighted.