Jakarta –
Doni Salmanan has officially been named a suspect by the Criminal Investigation Unit of the Police. He is suspected of being involved in committing fraud and money laundering (TPPU) in a binary option case Quotex.
Previously, the determination of Doni Salmanan as a suspect was conveyed by the Karo Penmas of the Public Relations Division of the Police, Brigadier General Ahmad Ramadhan. Doni was named a suspect after the police conducted an examination and filed a case.
“The title of the case determines the status of the concerned DS (Doni Salmanan) from witness status to suspect,” Ramadhan said during a press conference at the South Jakarta Police Headquarters, Tuesday (8/3/2022).
So what is Quotex? Then how is the trading mechanism in binary options like Quotex?
Launching from the Binary Options website, Quotex is a new trading platform founded in 2020 that allows traders to leverage the market to trade multiple assets such as Binary Options, Cryptocurrencies, Commodities and Indices.
It is known that this broker is owned by Awesomo LTD with its address at Suite 1, Second Floor, Sound Vision House, Francis Rachel Str., Victoria, Mahe, Seychelles ID: 221042.
It is said that Quotex accepts traders from exactly 249 countries which means from all over the world with no country restrictions, however this broker is not available for people under 18 years of age.
Besides that, Quotex also admitted that the company that oversees it, Awesomo LTD has been regulated in the IFMRRC (Center for Regulation of International Financial Market Relations).
But in Indonesia itself, at this time Quotex has been designated as an illegal trading site by the government. Meanwhile, the Qoutex binary option mechanism itself was previously explained by Youtuber Felicia Putri Tjiasaka.
First, it is explained that binary options themselves can be interpreted as guessing activities between two choices. Taken from the word bi in binary which means two and option which means choice.
“What did you guess? Price. What price? A lot, there is forex gold, stocks and crypto,” he explained, quoted from his social media account, Sunday (13/3/2022).
Second, continued Felicia, binary options like Quotex not a real market. Traders who buy gold, forex, stocks and crypto through binary options do not own these assets at all.
The owner of the binary option, or referred to as the bookie only makes the OTC market. This means that they only take data and prices from the real market of these assets.
“Well, this otc market is actually not wrong, but the question is are they fair and take real data from the market? Nobody knows,” he added.
Third, Felicia then explained about the mechanism. In binary options the trader will be asked to guess the price of the asset within the next 5 minutes.
For example Bitcoin, predict whether the price will go up or down in the next 5 minutes with a bet of IDR 1 million. If it really goes up, the trader will get a profit of 80% of the bet amount or IDR 800 thousand.
But if it is wrong, then all the money at stake will be lost 100%. The money is withdrawn by the bookie who owns the binary option.
“That’s why this binary option is also known as cash or nothing. Here we can see that the risk reward ratio is not comparable. If you win, you get 80%, if you lose, you lose 100%. In fact, the more we profit, the higher the platform fee. ” he added.
The interesting thing is, in binary options there is a very distinctive technique called the compensation technique. This technique requires the trader to increase his bet capital 2.5 times higher if he loses the first bet.
“For example, if we bet Rp. 1 million, then we lose, next time we will bet Rp. 2.5 million. If we lose again, next time we will bet Rp. 6.25 million in the hope that we can return all of our lost capital, which is bullshit,” he said. .
Felicia thought that technique was very trapping. Because in the end many traders actually lose all their capital, instead of hoping that the lost capital can come back. Because the dealer has a motive to harm the trader because he benefits from losing the trader.
“This is a market created by the market maker, which profit is from the loss of others. So they have a very big motive to make people lose. Because this is not a real market, this is a market that was made the same,” he explained.
From that explanation, of course he is very familiar with gambling. Even binary options like Quotex this may be far more dangerous than gambling, because the bookie can adjust the outcome of the trader’s guess as he pleases.
Watch the video ‘Selling and Buying Porsche Arief Muhammad-Doni Salmanan who became the talk’:
(fdl/fdl)
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