Lessons from Binomo The Scam That Reaped Controversy

Ngopisantuy.com Lessons from Binomo, The Scam That Reaped Controversy, The topic of investment is truly limitless. Even if the country’s economy is in danger of recession, investing will remain appealing to the general population.

However, those of you who are just starting out in the financial sector should proceed with caution. Do not be swayed by the allure of huge returns on investment since the most essential thing is.

To have the greatest and most lucrative assets. Because there are various investment scams that are causing criticism, such as Trade Binomo.

Binomo is a binary trading platform that allows you to purchase and sell financial assets such as Forex (Foreign Exchange), stocks, and derivatives. Binomo is a stock broker-created platform that matches supply with demand.

Lessons from Binomo, The Scam That Reaped Controversy

In terms of financial assets, demand is high. Binomo may alternatively be described as a middleman between financial asset providers and purchasers.

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Binomo itself provides services with a binary options trading strategy, which analyzes price fluctuations over a set time range.

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But, what exactly is a binary options trading scheme? The binary options trading strategy is a binary trading plan that might be considered financial gambling. Why is this the case? Because without an underlying asset that ensures success, players will have to rely on luck.

Binomo is frequently discussed in Indonesia due to its famous advertising, which have become widely circulated in the media. Starting with television commercials and progressing to Twitter and YouTube.

Using the notion of monologue advertising and putting in advertising talent claiming to be “Binomo expert traders,” many people are naturally intrigued in and trust what is mentioned in the ad offering.

Especially when you hear the commercial slogan, “Millions of people don’t even understand they can make $1,000 every day without leaving their house.”

And you are one of them.’ Of course, people are enticed by this. When combined with the Binomo application and the simple Binomo list, simply requiring an ID card and a registration fee to become a low-cost member adds value in the eyes of the community.

However, despite all of these appealing promises and promotions, Binomo is unfortunately included in the fraudulent investment.

This is due to the fact that Binomo Indonesia has been labeled an illegal investment since it lacks a permission from CoFTRA (Commodity Futures Trading Supervisory Agency), as required by Article 31 paragraph (1) of Law No. 32 of 1997.

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CoFTRA designated Binomo as an unauthorized domain site in the realm of commodities futures trading in October of last year. Because CoFTRA has never awarded this organization an official authorization, all of its trade operations are claimed to be unlawful in Indonesia.

CoFTRA further believes that Binomo’s operations are manipulative, as they guarantee a set return (defined rate of return) every day while failing to explain the dangers involved with the scheme utilized by this organization.

As a result, the id-Binomo domain has been prohibited by the Indonesian authorities. Even if the domain site has been disabled, the problem does not end there.

This can be observed in the new Binomo domains that have sprouted up, such as binomobiz in order for their operations to continue.

1. See Investment Company History

Before you register to become an investment participant, you should first research the firm and the sort of investment you intend to make.

This is done to protect you from being duped by bogus legality employed by unscrupulous firms, such as Binomo

2. Investigate the Legality of Companies Such as Binomo and Others

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Check to see if the investment firm you are going to is properly registered with the OJK.  Because there are articles on illicit investment businesses that are believed to be upsetting the public, you can view it on the official OJK website.

Learn the steps involved in the company’s investment transactions. This is done so that you may determine if the company’s futures trading operations are in violation of the law.

Because the Binomo marketing simply gives a quick overview of the transaction method, which is deemed manipulative. As a result, it only presents immediate items in order to pique people’s curiosity and persuade them.

Author: Irdansyah
I'm a regular contributor to IRDANSYAH commander, and in my business blog, my team and I share tales on the experience of starting a business from zero, how it feels to build a startup, and how to scale-up.

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