Binomo scam

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Binomo broker appeared in the options trading market in 2014. It has short work experience in this field, but it offers excellent conditions for cooperation. Customers can use the productive platform, increase their starting capital, taking bonuses, and participate in tournaments. The company boasts a high yield on options and provides the opportunity to trade crypto assets on weekends. It seems to some traders that the conditions are too good to be true. They suspect Binomo of fraud and deception. But does a broker really breed naive people? This article will attempt to understand this situation.

binomo scam

Signs of fraudulent activity

To understand the fact that Binomo is a scam or not, you should know about obvious signs of fraud. Specialists distinguish the following:

  • The abundance of advertising. Unscrupulous companies need to attract more customers to the site, so they use all marketing strategies to achieve their goal.
  • Unfinished and simple web resource. Fraudsters invest a minimum of money in the site and platform because they know that in a year they will be in disgrace and they will need to start all over again. It is important to look closely at the design of the resource, examine the text for errors. Poor layout, poorly executed translation of the site suggests that the company in the market will not last long.
  • The promise is 100% profit. Unscrupulous brokers to attract traders who want to make huge profits, promise them instant earnings when investing large amounts. Most often on advertising banners, you can find information that it is easy to make a fortune on options. You just have to guess where the price will go.
  • Reviews of “customers” about fabulous earnings. To increase the flow of traders to the terminal, company managers at various sites write laudatory comments about the broker, in which they note the ease of receiving fabulous sums and instant withdrawal. Of course, such messages are not supported by facts, screenshots, proving high earnings and withdrawal from the company.
  • Demonstration of numerous certificates. To increase the confidence of merchants, many fraudsters post on the site a lot of certificates of conduct. However, when checking, it turns out that they are all fake. Do not trust anyone, you need to study the documents and go to the regulator’s website to identify them. You should also check the blacklists of brokers that publish organizations that certify brands.
  • 2. Spam Transmission. Scammers often send spam. In most cases, the text of the letter is the same, the recipient is asked to follow the link and register. The chance is unique, he will receive many privileges, bonuses. The offer is limited, only a certain number of lucky people have the opportunity to take a quick start and become rich.
  • Intrusive staff. To attract traders, one-day company employees make “cold” calls. They buy a database of phone numbers, call potential “victims” and persuade them to make a deposit. In order for a person to part with his savings, they promise fabulous profits, 100% earnings, an increase in capital 1,000 times a week, a month. Employees are well aware of psychology, so they know how to pressure certain “points”, after which a person gives up and as if under hypnosis puts money into the specified account.
  • Aid for Trade. Fraudulent people are not interested in experienced traders, because such personnel simply refuse to cooperate with them. They are aimed at those who do not understand anything at all in options trading since they are most easily deceived. For this, the attackers promise to help in the trade. However, you should think carefully. After all, it is unprofitable for a broker that clients earn money. On the contrary, it receives income only if they are mistaken. Thus, managers will contribute to the drain of the deposit, and not increase it.

can you earn money on the binomo site or is it

The most obvious signs of fraud have been described above. There are others, but dishonest brokers which use such tricks much less often. This is due to the fact that they require investments, and they want to get more money by spending a minimum of funds.

Does the brand fall under these points?

If we analyze the above information, can we conclude that Binomo is a scam? What points does it fall under? To understand this, you need to understand in more detail, then there will be no questions left.

First of all, it should be noted that the broker does not promise 100% profit. It also does not mean that profit is easy to earn and that earnings on options trading will be sky-high. The company does not send spam, and managers do not make “cold” calls. There are comments on the network in which customers complain that they are sometimes asked to make a deposit. However, employees are unobtrusive and do not bother calling every hour.

After registering on the site, a personal manager is attached to each trader. However, he does not trade for the client, does not deliver him signals. He can give advice on trading, recommend a strategy.

A trader cannot entrust his account to him and go to rest. The rules simply prohibit it. A personal manager is designed to facilitate trading, he helps to get comfortable on the site and platform, solves technical problems, and no more.

The company also does not write laudatory reviews about itself. However, its employees monitor binary options websites and forums and respond to customer complaints and help them solve their problems. They quickly respond to negative comments and try to figure out why the client was unsatisfied.

Say that Binomo – deceivers – is impossible, because the site does not have numerous certificates from different regulators. The broker received only a license from the Russian organization CRRFM (Center for the regulation of relations in financial markets). On its official website, you can find confirmation that the document is real and get acquainted with the list of companies that provide false information about their certification.

binomo cheating or not

Thus, we can conclude that it is impossible to accuse Binomo of fraud and deceit. The broker has a good reputation among traders, he was not involved in scandals, he was not sued. You can safely register on the site and try your hand at trading.

Why do traders suspect Binomo of fraud?

The above was evidence that the company is not a scam. However, many inexperienced traders are confused by the fact that the network has a lot of negative reviews about it. Many traders complain that they can’t get their money, so potential customers have a question: does Binomo pay or not? After all, no one wants to lose their savings.

However, most often such complaints are left by clients who have not passed verification. Some do not even know what it is and why it is needed. For them, the procedure is a surprise, because they did not read the trading rules and did not get acquainted with the FAQ section.

To make a profit, you will need to send a scan of your passport and credit card for verification. After that, the account becomes personalized and when it is hacked, attackers will not be able to withdraw money by changing their payment details to their own. The administration will simply reject the application, notifying it by mail.

Users are wary of asking for an identity card, suspecting Binomo of fraud. They think that employees of the organization will use documents for personal gain. However, access to them has a limited number of people, so you can be sure that no one will take loans, do not steal money from the card.

After passing the verification, each trader receives the ordered amount within 3 business days and earlier. If the money did not come to the account, then you can contact technical support for clarification. Perhaps the system crashed and the application simply did not arrive at the finance department.

Conclusion

It is impossible to accuse Binomo of fraud since evidence of illegal actions could not be found. Undoubtedly, in the network, you can find reviews in which traders accuse the company of not paying profits, “drawing up” quotes, and fraudulently extorts money from gullible people.

However, positive messages are also not uncommon. In them, traders speak well of the terms of cooperation, quick receipt of funds, an excellent platform. At the same time, they provide evidence that the money was paid to them, they are real customers who trade on the platform.

If you want to make sure that the company is honest, you should register and deposit a minimum amount of $ 10 on deposit. You can try to make a profit on the platform and withdraw it. After passing the verification, the requested money will be credited to the account within 3 days.

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Fred Smith
Fred Smith / автор статьи
My name is Fred Smith. I graduated from the University College London UCL, and I have been trading on stock markets, binary options, and Forex for more than 10 years.
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Comments: 2
  1. Avatar
    Anna

    i didn’t understand binomo real or fake
    it seems to me that binomo is not a fraud :|

  2. Avatar
    Sidhant Santuka

    Binomo is an application before You start you just need to install the Binomo app either in your mobile or in your personal computer and select on which contracts you are looking for investment on this trading platform. It’s totally user-friendly and easy to use.  

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