GUILTY Case# 2015-098 | NetoB vs bancdebinary.com

[naveen1020]

Binary options market is controlled by Spotware, which makes financial gaming software.

The public at large needs to be educated that binary options are nothing more than slot machine games, and should be treated as such.

Unfortunately, the financial benefits of not doing so out weigh everything else.

Binary Options are NOT REAL. There nothing going on in the back end. All binary options providers should be forced to get a gambling/e-gaming license. This way the people involved would know what they are getting into, which is las vegas slot machines.

Yes. It is highly unfortunate that such worst scams exists in this era backed with a financial regulation (i.e cysec) license. Cysec is worst.

This is where most newbies get trapped. It should be made a rule to clearly display on its website, that it is a gambling rather than investment.

Brokers trained to tell lies in big way. Don't know when regulators open their eyes to close all BO's.

 

[rashidirshad]

these BDB is big scam

 

[ruseneca]

Yes. It is highly unfortunate that such worst scams exists in this era backed with a financial regulation (i.e cysec) license. Cysec is worst.

This is where most newbies get trapped. It should be made a rule to clearly display on its website, that it is a gambling rather than investment.

Brokers trained to tell lies in big way. Don't know when regulators open their eyes to close all BO's.

In the EU, regulations for financial companies are the best. You cannot find any better regulations...Since CySec is a regulator within the EU, they should also meet all MiFID clauses. The main goal of the European Union is to open the markets, Naveen, not to close them! Noone could ever be responsible for actions that a company has done and "close" that company. Just think what happens when you could close it? Nothing...a new one will be set up! So, don't talk such nonsense. Regulators' duty is to check whether companies comply with the local and iternational law and regulations. Noone can mess up with how the company is doing their business.

Now, you both, please tell us whether you checked the company before even making a single $200 deposit?! I found sooo many information regarding their "hobby" to break the law...they are charged almost every year for something and these fines do not come only from one regulatory body ( CySec ).

 

[naveen1020]

In the EU, regulations for financial companies are the best. You cannot find any better regulations...Since CySec is a regulator within the EU, they should also meet all MiFID clauses. The main goal of the European Union is to open the markets, Naveen, not to close them! Noone could ever be responsible for actions that a company has done and "close" that company. Just think what happens when you could close it? Nothing...a new one will be set up! So, don't talk such nonsense. Regulators' duty is to check whether companies comply with the local and iternational law and regulations. Noone can mess up with how the company is doing their business.

Now, you both, please tell us whether you checked the company before even making a single $200 deposit?! I found sooo many information regarding their "hobby" to break the law...they are charged almost every year for something and these fines do not come only from one regulatory body ( CySec ).

You are the only one posting and contradicting with every one (even with most seniors in FPA and admins). You might be doing this for years and you think this is good, but in turn you are cheating.

These firm's loot people's money with lies. As said by "WatanFX-Rep", should be categorized as gambling or mention it on the website.

Mention on the website, that broker (and not market) looses money if clients gain. This is sufficient to be fair and only those interested in casino type, will open accounts.

All the while their stories are, their earnings is payout % and their main aim is for clients success, which is a very big lie.

Now this is worst then casino. At-least we know why we go casino, but here it is as if "Unknowingly (since trust cysec), we give sword to broker to kill us" . This is a clear cheat.

Anyway you will argue with everyone. Cysec should impose heavy fines (more than they cheat) and cancel license.

Brokers only goal is to make us deposit as much as possible (don't care even if we are dead) and empty accounts.

 

[ruseneca]

You are the only one posting and contradicting with every one (even with most seniors in FPA and admins)

Naveen, this is a forum! It is place where everyone shares his/her opinion. I've shared all I had to share regarding your case in your thread. If it a contradiction to your ideas, I am sorry! This is the reality! You should not throw away your money to some people who are calling you just because they want to make some money from you! This is not the way I am doing business...if it is OK for you, then look again for the consequences! I am just sharing my personal point of view and you are not obliged to accept it!

These firm's loot people's money with lies. As said by "WatanFX-Rep", should be categorized as gambling or mention it on the website.

There's a special risk warning published on their website. As you said, you have noticed that message and you claimed that all websites with similar content have the same risk warnings. Well, this is requested by the law!

Mention on the website, that broker (and not market) looses money if clients gain. This is sufficient to be fair and only those interested in casino type, will open accounts.

Do casinos mention that fact?! And what do you understand under "broker" and "market" and what is the difference for you whether your broker or some big bank will take your money?! This is how the market works...The main difference is that your broker see what you have placed and the big bank see just
weighted ( average ) price. Now, if you read some more, you will make the difference and decide which is better for brokers and which is better for banks.

At-least we know why we go casino, but here it is as if "Unknowingly (since trust cysec), we give sword to broker to kill us" . This is a clear cheat.

And this is the big problem that I raised! Casinos are also divided on regulated and not regulated. If you don't know what you are doing, you should not trust both type of casinos. These regulation bodies are there to check the financial statements of casinos, brokers, banks etc, and not to tell how I must do the business. This is not a communism, we are in the era of democracy. It means that you are responsible for everything...or at least you should be! It is up to you to give or not the "sword to the broker".

Anyway you will argue with everyone. Cysec should impose heavy fines (more than they cheat) and cancel license.

I am sorry to say that you were the people to pay at least 2 fines imposed by CySec. Speaking to fines, what happened with your cases in CySec, did they charged Banc de Binary?! Have you already received any answer from this body?

...as per suspending the license...just visit my warning thread against HeroOptions. Licensed or not, you both should have been really excited about the profits you can make. You have not checked the company. Today, I did some checks and I found hundreds...This is what these companies want, to take your decision quickly, without any thoughts, any questions, any doubts...

Brokers only goal is to make us deposit as much as possible (don't care even if we are dead) and empty accounts.

Really, you should understand that this is the goal of every business. Why Samsung and Apple are floating every year at least 2 flagmans?! To stay in the warehouses?! Maybe you have something to say against these companies, too.

P.S. Should we consider that still there's no development for both cases?! Did you receive any answer from CySec or from the company?!

 

[naveen1020]

I am sorry to say that you were the people to pay at least 2 fines imposed by CySec. Speaking to fines, what happened with your cases in CySec, did they charged Banc de Binary?! Have you already received any answer from this body?

We didn't hear anything as of now, doesn't mean that right is wrong. Since law is poor, there are so many cases without justice.

Really, you should understand that this is the goal of every business. Why Samsung and Apple are floating every year at least 2 flagmans?! To stay in the warehouses?! Maybe you have something to say against these companies, too.

I am surprised to see a person, who defends so much, even when there is a clear cheating. Here Samsung and Apple doesn't lie this way. They are selling services. You are lost.

Just think what happens when you could close it? Nothing...a new one will be set up! So, don't talk such nonsense.

So you are a person, who says "Don't arrest a thief and put him in jail. If you do, one more thief comes in. Rather than make the society clear of thieves". hmmm... FPA trying to help in this area.


ohh.. forgot, as per your earlier advise given to me, I would have set up a BO with my lost money and learn tricks to cheat and lie. So we know what kind of person you are. I will stop arguing with you.

Yes these brokers also should earn money, but rather than work hard in their life, they work to cheat innocents (which you support). Lie is a service offered by this broker and you justifies it as correct.

 

[ruseneca]

We didn't hear anything as of now, doesn't mean that right is wrong. Since law is poor, there are so many cases without justice.

So, what do you propose, hanging everyone who lies?! These are more than 7 billion people...I think that this will not solve the problem!
If CySec send you an answer, inform us.

I am surprised to see a person, who defends so much, even when there is a clear cheating. Here Samsung and Apple doesn't lie this way. They are selling services. You are lost.

I am not the one who had made several deposits to a company which I claim as a pure boiler room, cheating and scamming boiler room.
The above-mentioned companies were just an example. These companies do not sell services, they sell products! Moreover, their goal is brainwashing...what happens if you buy model "X" and next year, model "Y" has come up? They will make you buy model "Y", of course, by telling you what are its benefits. The same marketing strategies are inherited by SpotOption. Yes, SpotOption. I already mentioned that in your thread. If we accuse of something the brokers, we should also turn to SpotOption. This is the company which sells the platform, the marketing, selling methods, client databases, emails, phone numbers, experience and "best practises" etc. For their services, they ask "brokers" to pay them a fixed amount and royalties each month from every client deposit ( for example 10% from your deposit ). What do you think brokers should do in order to cover these expenses?! If brokers earn, SpotOption earns....

I was once lost but I managed to find the right way...I strongly suggest you following expert advices instead of classifying FPA members somehow! I am just curious how will CySec solve the problem...

So you are a person, who says "Don't arrest a thief and put him in jail. If you do, one more thief comes in. Rather than make the society clear of thieves". hmmm... FPA trying to help in this area.

Are you familiar with the LibertyReserve and EgoPay cases?! Do you have in mind what the consequences were?!
Here, you should not speak for justice and whether to put someone in jail or you'd better hang him/her. You should think about others! Everyone at FPA is trying to protect others ( including you ). So, we'd better stick to that point, instead of thinking why someone is not in jail...There are special bodies which decide that. Jail does not solve the problem.

ohh.. forgot, as per your earlier advise given to me, I would have set up a BO with my lost money and learn tricks to cheat and lie. So we know what kind of person you are. I will stop arguing with you.

Yes these brokers also should earn money, but rather than work hard in their life, they work to cheat innocents (which you support ). Lie is a service offered by this broker and you justifies it as correct.

I was just comparing your options...You've lost an amount which is enough to set up your own binary options platform! SpotOption could provide you with anything to start your business. Maybe then you could believe in what I was writing....I've met these guys many times during international forums, exhibitions and seminars...I know how they sell their products...it does not differ from the way that other companies sell. It's pure marketing! It is not a lie that you can make 100% profit per month. It all depends on YOU! What I don't support is when you make the deposit and they start to manipulate you. They already have you money so the whole power is in their hands.

 

[naveen1020]

I am not the one who had made several deposits to a company which I claim as a pure boiler room, cheating and scamming boiler room.
The above-mentioned companies were just an example. These companies do not sell services, they sell products! Moreover, their goal is brainwashing...what happens if you buy model "X" and next year, model "Y" has come up? They will make you buy model "Y", of course, by telling you what are its benefits. The same marketing strategies are inherited by SpotOption. Yes, SpotOption. I already mentioned that in your thread. If we accuse of something the brokers, we should also turn to SpotOption.


I am out by looking at your comparison between these cheaters and Samsung / Apple. These companies won't tell lies. We get product (not empty box) for what we pay.

1. Spot Option providing its platform for all the BO brokers.
2. Here the issue comes with BO brokers. They were professionally trained to lie, make client open account with false assurances and make him deposit as much as possible (until he goes bankrupt) and empty his account. Do you call this best practice.
3. If broker intended to simple do casino type, then at least shut mouth and don't mislead or give wrong advises to empty accounts. At least clients will work out their own way.

This is the company which sells the platform, the marketing, selling methods, client databases, emails, phone numbers, experience and "best practises" etc. For their services, they ask "brokers" to pay them a fixed amount and royalties each month from every client deposit ( for example 10% from your deposit ). What do you think brokers should do in order to cover these expenses?! If brokers earn, SpotOption earns....

So to pay their expenses, cheat / scam clients. How worst you are. Business is simple. Take casino license (and not under investment) and open your firms with headers ON LINE GAMBLING and if they make money, stay in business, else close it. This is how fair business works but not cheat ppl, just to earn. This is not an excuse to be given to cover their expenses.

I was just comparing your options...You've lost an amount which is enough to set up your own binary options platform! SpotOption could provide you with anything to start your business. Maybe then you could believe in what I was writing....I've met these guys many times during international forums, exhibitions and seminars...I know how they sell their products...it does not differ from the way that other companies sell. It's pure marketing! It is not a lie that you can make 100% profit per month. It all depends on YOU! What I don't support is when you make the deposit and they start to manipulate you. They already have you money so the whole power is in their hands.

[/QUOTE]

No way, I will set up this dirty business to cheat others. I can't even think of it. Full of lies. This is the reason, majority of these BO's were not authorized to enter US. May be in future, this dirty business will end in EU as well.