Problem Banc de Binary(bbinary.com) Issue

[athenafx]

Banc De Binary CEO Answers Questions May 13 2011 | Binary Options Daily

May 13 2011, 12:09 PM
Oren Laurent: The reason we do not declare the Tel Aviv office on the site – which by the way – Banc De Binary is fully regulated in Israel (Reg. No.514405281), is because of Geo-Political risks. Not everyone is a big fan of Israel and we would lose all business from the middle east countries.

May 13 2011, 12:10 PM
Oren Laurent: So I hope this can remain on this forum for respectful purposes. You may visit our Tel Aviv branch at any time – and we would even pay for all accommodations for any VIP CLIENT who wished to visit our beautiful country. Another interesting fact is that according to our internal regulations, we may not allow clients from Israel to trade on our platform so that we may remain objective to all international clients.

If you are able to fully understand the above declarations then you can make your decision.

and also

Banc De Binary
Trump Tower
40 Wall Street
New York, NY 10005
Phone: 800-656-6163
Fax: 866-779-4265
Website: http://www.bbinary.com/

No US registered securities firm with this name.

 

[tomaszkon]

i agree BBINARY.COM is SCAM i had 3 trades of the same asset EUR/USD where 2 trades where expiring 23:30 and the 3rd trade 22:30. the 3rd trades strike price was 1.26864. for the 30min that the trade last i was watching it and something caught my eye. the first 2 trades had exactly the same current price while the 3rd one was 5-10pips lower (they are all 3 same assets). how? i dont know. market was slow at that time. at the expiry time of the 3rd trade (22:30) the first 2 trades where showing 1.26866 and rising up while 3rd trade was hanging at 1.26858. thats 8pips difference. yeah! i lost that trade but i took 2 pics before that as proof of different prices. i contacted support. WOW! very disrespectful!! they trying to make you look stupid! they told me that its my computer that lagged. but it wasnt he even made me take a online speed test and i did to prove my connection is great. so then he said that it has to be catches and cookies but i clean my computer every week just for binary options! so after that he saw my pics showing different prices he also saw that i use firefox so he blamed me for using firefox and not google chrome =/ seriously????????? how many people have problems with firefox????? i have dell btw. i told him it doesnt matter if i use chrome of firefox but because he couldnt think of anything else he was telling me that it had to be cuz of it. i asked for refund (not winning price) he said no. then he asked if i want to talk to somebody on the phone so i was too tired to chat so i said yes. OMG another disrespectful guy thinking he knows everything but he didnt. he argue with me that it had to be a lag and he kept talking non stop without letting me say anything (annoying). bottom line bbinary.com scam go with 24option.com nice people great costumer service. plus if you encounter any problem they always trying to solve it even by giving you bonus. these are the pictures of my 3 trades: 2min before expiry time exactly 2sec before expiry time

 

[admin@bbinary.com]

Resolving issues

It is scam websote Banc De Binary - [url]www.bbinary.com | Online Binary Option Trading | Binary Option Broker | Digital Option Broker[/url] .Dont trade and loose money.I traded a pair of USD/JPY and it was visible in my open position while expiration time that I have earned 90$ cash and later it disappeared after expiration time.Later in portfolio I saw I have lost by 3 pips.So it was really disappointing.So I contacted support and they told same thing that I lost by 3 pips but I ask them why it was shown wrong info on your chart and order rates that I have earn and now it is different scenario and that support person never respond for 15 minutes after asking so many times (Are you there sir).

Hi Prema,

This thread has come to my attention, and I want to personally make sure that any outstanding issues are resolved.

1) Customer service - I expect very high standards from our support agents, and can tell you that we have recently won a couple of awards for customer service as you'll see on our website. That said, and I'm sure that any businessmen out there can sympathize, from the hundreds of interactions we have with clients every day, there may be an odd occasion where the service is less than satisfactory. If this is ever the case, please be in touch with the department head by emailing mike@bbinary.com.

2) Expiry results - With regards to money not being visible in your account as expected, it is likely 1 of 2 issues. Sometimes we find that customers confuse the account balances of their demo account and their real account. Alternatively, it could be a technical issue because the rates on our platform update 3-5 times a second, and if customers are using a slow computer or internet browser, they might not always see the most updated rates. Our technical staff can always help if this is the case, and can recommend simple steps you can take to ensure that your internet is as quick as possible. Just call +1800 656 6163.

3) Reputation - Please be reassured that we are a highly secure and legitimate company. I am delighted to be able to tell you that we will be the very first binary options brokerage to be regulated under the new CySEC regulations. In addition, this year we were very honored to receive a place on the World Finance 100 list alongside companies like HSBC, Goldman Sachs and Apple. I collected the award at the London Stock Exchange as you can see here:

Hope this clarifies any questions you have.
If you need anything more, just email me at oren@bbinary.com

Thanks,
Oren Laurent
CEO of Banc De Binary

 

[admin@bbinary.com]

Hi All

I am beginning to feel disillusion with the services that Banc De Binary is offering either customer service end or Broker end. (Name of broker will be revealed soon)

Only empty promises and their main objective or goal is to ask youto DEPOSIT! DEPOSIT! DEPOSIT!
First impression I was intrigued with the company and reviews but further digging it is alarming how they treat the new guys who sign up wit them.

1. Demo trade acount -> suppose to be free but require a deposit of min USD500
2. After initial deposit made which I did for USD1000 I was promise of training, signals, charting with 2 diff brokers and this never materialise. The only thinkg which now I regret is after depositing USD3500 I can now not withdraw the money due to the take up bonus of 50% - USD1750

I want to know if I can give back their money and what ever left in my account to be return back even if it is now at a lost?

Hi Al Mahat, I was sorry to see your post and want to resolve any misunderstanding.

We do offer $50,000 demo accounts, but they are only free for customers, you're correct. Allow me to explain. We do this because when you have a demo account and are learning to trade, Banc De Binary provides free educational materials and a service whereby a broker will talk you through the platform 1-on-1. It wouldn't be feasible to provide this level of service to those who aren't serious traders so we do need the minimum deposit to show that a trader is genuinely interested. If someone is not totally comfortable trading after using the demo, they can of course withdraw the full amount of the deposit at no cost and without having traded or spent a cent.

With regards to different account types, you'll see on our website (Which Binary Trading Account Is Right for You? - Banc De Binary) that a personal broker service is offered to those with accounts of $5,000 upwards. Sometimes brokers will be generous and give trading signals and education to those who have not yet deposited this amount, but that is their personal choice to work with you. I fully agree that if your broker has made a promise, they should abide by it, even if you deposited less than the recommended amount. Our head broker, Niko Galis, will be able to assist and make sure that you receive fair help in these circumstances. Please call us, ask for Mr Galis, explain the situation and say that I personally asked him to give you some trading signals. However, please note that as a company, it is our policy to offer trading signals and strategy advice only to clients with $5,000.

Hopefully this clears up any confusion.
You are welcome to contact me directly (oren@bbinary.com) if I can be of further assistance.

Thanks,
Oren Laurent
CEO, Banc De Binary

 

[admin@bbinary.com]

Go away from Banc de Binary. You will have minimum chance to get cash back.

And they block you the account in order to get more cash:

"Thank you for contacting Banc De Binary.
I see that you deposited less than the minimum amount to begin trading so your account has been changed to Pending. If you would like to log back in you would be required to deposit another 400Euro and we can activate your account again.
If you have any questions about this email please feel free to reply to this email or contact us as follows:..."


Its so complicated to withdraw that its not worth to start.
They want only you to deposit, deposit...And if you want cash back they will make barriers non stop. Im hugely surprised that Moneybookers publish them on their site. I'm getting out of Moneybookers too because I can trust them anymore because of Banc de Binary.
GO AWAY

Hi Avtobus,
It's a shame that this is your impression of Banc De Binary. I'm sorry that you've had a bad experience and would like to know if there was a reason for your upset, or if it was simply the deposit issue.

One thing I need to make clear is that we do have a minimum deposit. Some companies will allow you do trade with $100. But I've worked in this industry many years and seen far too many people loss $100 too easily.

I imposed the $500 minimum because I believe this actually protects customers. You have a greater leverage to trade with and are in a better position to strategize and trade seriously, which ultimately means you are far more likely to make money. I tried to ensure this was as clear as possible on our website, and I'm sorry if there has been any confusion leading you to think otherwise. Until a customer deposits the minimum amount, you account will not be active and you will not be able to use our services.

Please know that we do value our customers and are a very reputable business. We are in the process of becoming the very first ever binary options brokerage to be regulated under CySEC, in a previously unregulated industry. We also are incorporated in the US and comply with all country laws relating to our customer's financial security and data protection.

If you have outstanding questions, as always, please contact me at oren@bbinary.com

Thank you,
Oren Lauren, CEO at Banc De Binary

 

[FXCobra]

Banc De Binary CEO Answers Questions May 13 2011 | Binary Options Daily



If you are able to fully understand the above declarations then you can make your decision.

and also

I will stop by what Banc De Binary CEO had said, without going into the Scam part and its cheating clients.

How can I ever trust a company that says this:

***The reason we do not declare the Tel Aviv office on the site, not everyone is a big fan of Israel and we would lose all business from the middle east countries.***

If a client knows later, what will that be?? CHEAT! or you will not care because client money is in your account, and if the client is ***from the middle east countries*** that do not like your country, you will tell client, if you want to get your money go to the tel aviv office

***So I hope this can remain on this forum for respectful purposes***

Afraid Afraid Fear Fear, Live your lives always Afraid & In Fear because you built yourself on false claims & lies. How can any client trust you anyway!

***we may not allow clients from israel to trade on our platform so that we may remain objective to all international clients***

Never heard of a broker or company with such policy

As if NFA firm say their regulation rules/policy not applied for US Residents! or ?? US Broker says the same!

A broker or company with no clients from its country, how will you have good for other countries people when you have no good for your own people!!

Least to be said is Your policy is Abnormal & company is suspicious

 

[Pharaoh]

We do offer $50,000 demo accounts, but they are only free for customers, you're correct. Allow me to explain. We do this because when you have a demo account and are learning to trade, Banc De Binary provides free educational materials and a service whereby a broker will talk you through the platform 1-on-1. It wouldn't be feasible to provide this level of service to those who aren't serious traders so we do need the minimum deposit to show that a trader is genuinely interested. If someone is not totally comfortable trading after using the demo, they can of course withdraw the full amount of the deposit at no cost and without having traded or spent a cent.

Hmmmmnnn... I don't understand how binary options trading works, but am hearing so much about it that I've been getting tempted to open a demo account to see how it works.

If Mr. Laurant had a clue, he'd make demo accounts and general education materials free, while reserving the more specialized help to paying clients.

Too bad that Banc de Binary wants me to deposit some of my hard earned money in exchange for the privilege of getting to mess around on their demo platform. That alone is enough to make 100% certain that I won't be doing business with them.

 

[FXCobra]

Banc de Binary said"""we may not allow clients from Israel to trade on our platform so that we may remain objective to all international clients""""

Jews and Israeli citizens are not allowed to engage in any type of Casino Gambling and Online Gambling that Options trading might be considered within those prohibitions rules in Israeli Penal Law 5737 – 1977.
That might be the main reason Banc de Binary do not accept clients from israel not for the reason they said "remain objective to all international clients"
That israeli law is a fact but not sure if Options Trading is named under this law. If anyone have other more details correct me.

Banc de Binary asked to deposit money in order to try a demo account is a suspicious request.
The excuse it gave as I remember was picking the serious people who want to become their clients not anyone who just want to try.

As I know some other Option Trading Companies does the same to drag you to open a live account with it and depositing money but there are still better ones where you can trade demo accounts for free, that must be the case by all like Forex brokers who provide any trader with a free demo account to try its platform.

What are they worried or afraid of anyway

 

[admin@bbinary.com]

In this company website, Banc De Binary - Withdrawal Process, they say in order to withdraw, they need 1. A clear copy of Passport / Photo ID / Driver’s license2. A clear copy of a recent utility bill. However, in reality when you withdraw, they require A utility bill from the last 3 months which reflects the address shown on the photo ID. If you ID such as US passport has no address, they will not give you money back. Such important information is not put in their website.

Hi, I see that you’re not alone in questioning the withdrawal process, so hopefully I can explain everything clearly here.

The reason that financial institutions must verify accounts (in compliance with US anti-money laundering laws) is to protect customers and prevent fraud. We don’t want the wrong people withdrawing your money. In addition, Banc De Binary will soon be the very first binary options company regulated under CySEC. That requires us to operate with full integrity and maintain tight security measures.

The documents for account verification include a passport, ID and utility bill, and your home addresses must match. (Also, if you paid by credit card, please send a copy of this too - you may block out all but the last 4 digits.) I realize that some people do not always have these documents or have moved address since opening their account. Previously customer service used to advise what the alternative options were. However, I’ve taken on board the comments on this forum and appreciate the need to be as transparent and clear as possible. So now what we’ve done is now add another page to the website to clarify which alternative documents are acceptable.

Click here to see the standard documents required.

Click here to see the alternative options if you not have a passport etc.

Hope this helps and answers all your questions. Oren Laurent

 

[admin@bbinary.com]

Banc De Binary is totally fraud according to both SEC (US Securities and Exchange Commission) [/B]

[/QUOTE]

Hi,

Thanks for bringing up the SEC - it is really important to me to be able to clarify this.

We are indeed on the pause list of the SEC. Binary options firms have not yet been required to be regulated in the US. Our position on the pause list reflects that, because we could not possibly be on the list of regulated companies even if we wanted to be. And I do. I am hugely in favor of tighter regulations which will protect customers better and make sure that all companies meet the highest of standards. This will hopefully happen in the US in the coming years. As you know, it took the forex industry 14 years to be regulated fully. I'm confident that the binary options industry will soon follow suit.

For the time being, the only regulations imposed on the industry are those recently introduced by CySEC in accordance with EU law. We are immensely proud to be working closely with CySEC to become the very first ever regulated binary options brokerage.

We place the highest importance on maintaining our transparency as a firm and ensuring customer security. This year Moat and Bailey awarded us the 'Most Secure Binary Broker' for the second year running. This comes in response to the amazing work of our technology and accounting staff who are constantly working on our system to provide the utmost customer protection and financial security.

This year I collected our award at the London Stock Exchange after being listed as a World Finance 100 company. You can see the video . I hope this can further reassure you that we have the best of intentions and operate to a very professional standards.

Thanks. Oren Laurent, CEO