Scam case of ₦480,000! Criminal gang kept defrauding madly in the name of 'Binomo'

Facebook has become the King of social media with nearly 1.5 billion daily active users (the average time per user is 35mins per day). Since entered the US forex market, WikiFX has been keeping an eye on the illegal broker who releases false advertisement on Facebook. Recently, a member, named Binomo Trader, was found publishing false advertisements of high-yield in a Facebook group, called Forex Trader USA with 177k+ followers.

WikiFXhasexposed Binomomany times onofficial website.

Binomo is an illegal broker without any regulatory status , running binary options and BTC business. The score of Binomo on WikiFX App is only 1.22 out of 10. From their official website, it can be seen that there is no pop-up customer service window or official phone number, except for an email address (support@binomo.com). Thus, Binomo doesn‘t have a practical customer service system to reply and deal with investors’ trading problems. It will be difficult for the novices to understand the specific operation process of Binomo. The most important thing is that a brokers brand can be imitated easily by scammers.

So investorsarealways the biggest victims. Who is the biggest beneficiary？

The biggest beneficiaries are the scammers, who commit fraud by pretending Binomos brand. In particular, there are a large number of groups named Binomo or Binomo investment in Facebook. But who are they, where are they from, and what relationship do they have with the Binomo？

WikiFX kept receiving Nigerian scam cases from social platforms, and the fraud amount nearly reached 1,300 USD. This is a huge lost for Nigerian as their average monthly income is only 100USD. The following are some scam cases WikiFX collected, which aim to warn the U. S. forex investors not to trust Binomo's investment advertisements on social media, and please stay away from the unregulated broker.

Cases:

Two scammers, named mrs_bukola_binomo_investment and Mr Tobi binomo at Instagram, defrauded an investor of 804USD. They promised the investor that no matter how much money he invests, they can return triple amount to him. Finally, the investor invested a total of 804USD.

The following are transaction records of the investor, and the transferred account related to Binomo.

In a Facebook page, named Binomo with 336 followers, an agent also promised that investor could obtain triple profits. But the investor found that he was continuously persuaded by the agent to deposit more and couldnt withdraw money.

A group is named Binomo Word Trade with 112 followers from Facebook. Two investors with no investment experience transferred 270USD to this agent without thinking, he expected a return of 286USD soon, but finally they was blocked by the agent at the end.

From a Facebook group, named “Binomo Online investment”, it can be seen that a agent promised that the investor can get 2X his investment. The same result is that after 272USD was transferred, there was neither interest nor principal returned to the investor.

Please stay away from the scammer in the picture below.

The last one case was from WhatsApp, involved a group, named “Binomo Trade Investment.”

There will always be an invitation link in the group, by which group members can deposit money for investment. While they can upgrade their investment packages by adding more money. An investor was deceived of 41USD in the group and was blocked finally.

Conclusion:

Scammers often defraud investors who have a weak awareness of forex risk under the disguise of forex broker. Those so-called “Binomo brokers” have defrauded a considerable number of forex investors in Nigeria. Therefore, WikiFX advises the U.S. forex investors to stay away from the Binomo, and beware of the attractive high-yield investment advertisements on social platforms.

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.

If you find there are still exist errors in article, we will improve them as soon as possible, and strive to provide consumers with a good and reliable exposure platform. Thank you for your feedback.

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1: Download WikiFX

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2: Register to be a WikiFX member

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3: Select Language and your area

4:Find “Exposure” section on Homepage

5:Edit post and release

Click the edit icon and choose either type of reason you wanna expose. Then, select the broker you wanna expose, edit your scammed experience and release it.