Is Binomo a scam or competitor’s tricks?

This post is also available in: Tiếng Việt हिन्दी Hinglish Indonesia Português Türkçe Español हिन्दी

Binomo appeared in the financial market in 2014. The trading platform offers excellent conditions for cooperation. Customers from India and other countries can use the modern platform for assets trading, increase their starting capital, take bonuses, and participate in tournaments.

The company boasts a high yield on deals and provides the opportunity to trade on weekends. It seems to some traders that the conditions are too good to be true. They suspect Binomo of fraud and deception. But is it true that the Binomo trading platform is a scam? This article will attempt to understand this situation.

Signs of fraudulent activity

To understand the fact that Binomo is real or fake, 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 goals.
• Unfinished and simple web resource. Scammers invest a minimum of funds in the 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 a website, examine the text for errors. Poor layout, poorly executed translation of the site suggests that the company in the market will not last long.
• Promise of 100% return. Unscrupulous trading platforms to attract traders who want to make huge profits, promise them instant earnings when investing large amounts. Most often, you can find information on advertising banners that it is not difficult to trade assets. You just have to guess where the price will go.
• Demonstration of numerous certificates. To increase the confidence of traders, many scammers post on the website 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 trading platforms that publish organizations that certify brands.
• Intrusive staff. To attract traders, one-day company employees use “cold” calls. They buy a database of phone numbers, call potential traders and persuade them to deposit. In order for a person to part with his savings, they promise guaranteed additional earnings, an increase in capital 100 times a week, etc. Employees are well aware of psychology, so they know how to convince a person to deposit.
• Aid for trade. Fraudulent people are not interested in experienced traders because they refuse to cooperate with them. They are aimed at those who are not versed in asset trading at all. For this, the attackers promise to help in the trade. However, you should think carefully. Scammers will help drain the deposit, not increase it.

The most obvious signs of fraud have been described above. There are others, but dishonest platforms that use such tricks much less often. This is due to the fact that they require investments, and they want to get more capital 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 characteristics does it fall under? To understand this, you need to explore more details, then there will be no questions left.

First of all, it should be noted that https://binomo.com/ does not promise 100% extra income. The company does not send spam, and managers do not use “cold” calls. There are comments on the network in which customers complain that they are sometimes asked to deposit. However, employees are unobtrusive and do not bother calling every hour.

After registering on the Binomo website, each trader can contact the support service, which works around the clock. Also, a personal manager is attached to the owners of Gold and VIP accounts. 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 prohibit it. A personal manager is designed to facilitate trading, he helps to get comfortable on the platform, solves technical problems, and no more.

The company also does not write laudatory reviews about itself. However, its employees monitor 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 is a fraud – is impossible, because the site does not have numerous certificates from different regulators. The company received a certificate from the International Finance Commission and since 2018 has been a member of category “A”. Binomo has also been audited by the independent organization Verify My Trade (VMT), which confirms the quality of trading on the platform. On its official website, you can find confirmation that the document is real.

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

Why do traders suspect Binomo of fraud?

The above was evidence that Binomo is not a scam. Also, it is legal in India. However, inexperienced traders are confused by the fact that the network has negative reviews about Binomo. So, some traders complain that they can’t withdraw funds, 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 Client agreement and did not get acquainted with the “Help Center” section.

To withdraw funds from Binomo, sometimes you need to go through verification. You will need to send a scan of your passport or ID and bank card or e-wallet for verification. After that, the account becomes personalized and if a third party receives access to the account, they will not be able to withdraw funds by changing their payment details to their own. The administration will simply reject the application, notifying it by mail.

Users are wary to provide documents, suspecting Binomo of fraud. They think that employees of the organization will use it for personal gain. However, access to them has a limited number of people. That it’s the same procedure everyone has in the banks.

After passing the verification, each trader receives the ordered amount within 3 business days or longer (it depends on the type of account and your payment system). If the funds did not come to the account, then you can contact technical support for clarification.

Conclusion

It is impossible to accuse Binomo of scam since evidence of illegal actions could not be found. Undoubtedly, in the network, you can find reviews in which traders accuse Binomo of not withdrawing funds. However, positive messages are also not uncommon. In them, traders speak well of the terms of cooperation, the possibility of free training, availability of a demo account. At the same time, real Binomo customers confirm that they have received additional income.

You can also verify this by opening an account on Binomo. And you don’t even need to deposit, because a demo account will help you understand how the platform works. And be aware of the risks in trading. You should always trade wisely using strategy and trading skills.