Any area of human activity related to money attracts dishonest people, and trading is no exception. “I will double your investments! Send me $100, I will give you $200 back!” You have probably seen these types of claims on Facebook, Instagram, and other social media.
Don’t worry, Binomo has got you covered when it comes to scammers who offer tons of money for nothing. Forewarned is forearmed, so here’s our guide for you on how to protect yourself against scammers.
Typical methods of scamming
Scammers usually use social engineering methods to manipulate and trick users and force them to make mistakes and give away sensitive information.
One of the most popular ways is when they contact people on social media posing as an official Binomo agent. The scammer persuades the victim to invest by sending funds directly to a specific account.
Another popular method is to create the feeling of easy-to-earn money. The scammer offers to manage your trading portfolio to double or even triple your account balance. In their messages, they like to use such phrases as:
- Double your money
- Profit without risk
- Free money
- Free giveaway
- Guaranteed returns
Scammers are getting more and more creative, so you have to be very careful not to become victim to their tricks. If you see something like this, ignore it and report it to our support team.
How to avoid being scammed
Follow these basic security rules to stay safe when trading. There is nothing ground-breaking here; they are based on the most common situations you may encounter:
- Never send money to people you don’t know who contact you via Twitter, Telegram, Instagram, etc.
- Don’t give your account credentials to people who offer to trade or invest for you.
- Ignore offers to increase your returns, double your balance, etcetera. Easy money has never been a reality in trading. It always requires time and work.
- Use different passwords for your trading account and email. If a hacker breaks into your email, you may lose all of your personal data across your other accounts, too. Set up two-factor authentication on your email for extra security.
How Binomo protects you
Binomo regularly blocks fake accounts.
Binomo takes preventive measures by blocking the pages of scammers. We use special software to search for fake Binomo accounts and report them to social media administrators.
All the information and credentials of Binomo clients is confidential. The Binomo team will never request access to your account to trade or ask for money to make a deposit in your account.
Proof of Identity
In the event of any suspicious activity, Binomo can require verification of your identity. Accordingly, withdrawals of funds will be limited until the procedure is complete. This helps protect both the clients and the company itself against scammers.
If someone contacts you claiming to be a representative of Binomo and asks you to send them money, please write to the Binomo support team. You can send an email to [email protected] or contact them directly on the platform.