Binomo Victims Appear, How Binomo Works Like Gambling

How to use Binomo. (photo: doc. Antara)

JAKARTA – The Binomo binary option platform has been in the public spotlight after the appearance of its victims who reported it to the authorities. The victims claimed to have suffered losses of up to hundreds of millions. On the other hand, Binomo is on the illegal list. The case also dragged the name of Indra Kenz, while other affiliates are being investigated by the authorities.

Binomo is considered more like a gambling than a trading platform. This was tested by several parties and called Binomo like an online casino. However, apart from Binomo there are a number of other applications including Olymp Trade, Octa FX, to IQ Option. A number of these applications are considered to have similarities because they use a binary options trading system.

To use binary options is quite easy. The reason is that users only need to choose whether the price will go up or down. Trading systems like this are often considered like gambling.

For information, the Binomo platform is already available in more than 130 countries including Indonesia. The Binomo website and application is an online trading platform that provides various assets to trade. To trade on Binomo, users must first register using an email.

New users will be given the opportunity to try it out via a demo account. In this demo account, users can use a number of features, including the trading period to the amount of the purchase value and the time frame.

How Binomo Works

Actually the way Binomo works is quite simple and easy to do. After the user makes a deposit, trading can begin. For how it works, the user must first determine the amount and timeframe of the trade. After that, the user only needs to make a prediction whether the price will go up or down by choosing green and red.

If the user chooses the green color at Rp. 1000 then in one minute the price breaks to Rp. 1,100, then the user will get a profit. In addition, users can determine the amount of the transaction value starting from Rp. 14,000 to Rp. 14,000,000. Users can also specify the currency denomination whether to choose dollars or euros.

Binomo offers a number of assets to trade such as crypto assets, forex, to CFDs (contracts for difference). For information, in the demo account new users will get a certain amount of money to trade, but this money cannot be withdrawn. It's like an experiment to attract users to want to sign up for the platform.