High-return trap! Fake 'Binomo' gang embezzled 99,000 naira of two victims

As we all know, most investors from Nigeria are familiar with the forex broker Binomo, because their advertisements are spread all over social media. And those so-called Binomo staff put out attractive advertisements to attract fresh investors without any investment risk awareness. Generally, fraudulent brokers will promise investors that they can gain double or even triple profits in a short term. This kind of fraud is the most common in Nigeria.

This article will analyze in detail what kind of team is behind Binomo. How do they scam investor on Whatsapp, Facebook and Instagram？ Do they have a real office？ Do they have regulatory license？

As usual, here are two victims' complaints against Binomo.

First case:

An investor told WikiFX that he saw ‘Binomo’ ‘s ads from Facebook. A group is named Binomo World Trade with 112 followers. The investor sent message in this group to ask how the investment plan really works. One agent from this group who has mentioned the investment process, if investor invests a sum of money, Binomo will return triple amount of the principal to investor’s account within 30 to 45 minutes. The investor with no investment experience transferred 25,000NGN to this agent without thinking, he expected a return of 75,000NGN soon, but finally he was blocked by the agent at the end.

The investor believes in anything in this Facebook group because they use a celebrity avatar, an Nigerian actor, to advertise for group promotion. It is high-sounding to win the trust of investors just by using the avatars of well-known figures. On the other hand, does the star know that someone is using his avatar to cheat？ Or, most like, they not only defraud, but also infringe on other peoples portrait rights. The profile of group photo shows they are members of The Financial Commission. Actually, the organization does not admit that they have this member. Furthermore, the group introduces that they are an Australian company, but in fact they are just a fraud ring made up of several people in Nigeria.

The investor also said a man from Whatsapp worked for both Olymptrade and Binomo.

WikiFX suggests that investors stay away from this man!!

Second Case:

An investor was scammed by a woman called mrs_Asish46 at Instagram. The woman said she works for Binomo and introduced binary options to him. The investor invested 5,000NGN at the beginning and was asked to invest more if he wanted to gain more. The investor invested 74,000NGN in total. Like what happened in the first case, the investors money was gone and he did not get any feedback from mrs_Asish46.

The women also mentioned Binomos office address, 24 Usuma Close, Off Usuma Street, Gana Street, Maitama, Abuja, Nigeria.

WikiFX also collected some information as below: The address regards a woman called Gift Olymp Investment from LinkedIn. It can be seen that messy messages are everywhere.

Conclusion: According to research, Binomo seems like a sugar-coated trap. The scam of Binomo involves not only individuals but also groups. They have neither an office nor a community to solve the customer services problems of their investors. The fake ‘Binomo’gangis currently active on large social network such as Telegram and Facebook, please stay away!

Declaration:

The article evidence exposed by WikiFX is verified by the following processes:

1: Evidence Collection: (Chatting history records, Trading history records, Banking Transaction records and recording videos from victim).

2: These evidences will be evaluated and verified by expert who has been work in forex industry for many years.

3: The editor will review it again before the article is published.

WikiFX App is a third-party inquiry platform for company profiles.WikiFX has collected 17001 forex brokers and 30 regulators and recovered over 300,000,000.00 USD of the victims.

It, possessed by Wiki Co., LIMITED that was established in Hong Kong Special Administrative Region of China, mainly provides basic information inquiry, regulatory license inquiry, credit evaluation for the listed brokers, platform identification and other services. At the same time, Wiki has set up affiliated branches or offices in Hong Kong, Australia, Indonesia, Vietnam, Thailand and Cyprus and has promoted WikiFX to global users in more than 14 different languages, offering them an opportunity to fully appreciate and enjoy the convenience Chinese Internet technology brings. WikiFXs social media account as below:

Facebook:

https://www.facebook.com/WikiFX.ng/？modal=admin_todo_tour

LinkedIn:

https://www.linkedin.com/company/31506916/admin/

Wiki Fair Forum Function:

In order to help more investors, WikiFX has launched the “Wiki Fair” forum, which aims to provide urgently needed and professional services to Nigerian forex investors.

The exposure function of “Wiki Fair” includes the following features:

1: Allow investors who have been defrauded by illegal broker to complain directly in the forum (as shown in the screenshots)

As long as there is sufficient evidence, a review panel and an executive team will contact the broker to discuss the complaint or expose it directly through the media. Here are the exposure channels:

2: Block low score brokers from entering the forum

3: Monitor suspicious communication in real time, and directly spot and deal with suspicious fraud;

4: Negotiate with highly reliable brokers selected by WikiFX in the secure environment of Wiki Fair.

WikiFX APP exposure channel: https://www.wikifx.com/ng_en/download.html

Information page to understand forex scam and exposure channel: https://activities.wikifx.com/

Website exposure channel: https://exposure.wikifx.com/ng_en/revelation.html

More details about how to download WikiFX App:

Please download WikiFX APP from links below or scan QR code ：

iosAppStore: https://apps.apple.com/us/app/fxeye/id1402501387？l=zh&ls=1

Googleplay: https://play.google.com/store/apps/details？id=com.foreigncurrency.internationalfxeye

Want to know more about Forexsecurity？FollowWikiFX.NG officialaccount onsocial media to keep up with the trend!!

Facebook: https://www.facebook.com/Wikifxng-100222921591879/

If you have any questions, please feel free to contact us at wikifx@wikifx.com