Banc de binary is a scam

[novatrice1]

These people are looking to steal all your money, the only thing to do is to recover what you can right now. C is the only thing to do even if there are losses

 

[nav_04]

Hello all,

I cannot believe the amount of similar stories i have seen on here that resonates with my own experience from banc de binary last week.

I have lost £4000, 60% of my capital in ONE trading session. Likewise with all the other posts on FPA, they pressurised me into ' recouping the day losses' and I completely put my foot down on it and requested a withdrawal of the rest of my £3000 remaining and has been approved ( albeit they tried via wire transfer but i managed to make them change it to 'credit card' transfer )

I have previous experience in trading and have studied it profusely. However, upon coming across banc de binary, being regulated and affiliated with various well known firms, I was attracted to this new form of trading.

I deposited £250 and immediately received a call from a 'account manager'. We made many phone calls and spoke for a while, obvious salesman and encouraged me to deposit up to £7000 to get access to a 'premium account' and have VIP events, VIP trading signals and all the rest of it. With benefit of hindsight, i wish i never did.

Unfortunately, a personal bereavement meant I didn't want to trade and i needed my deposit back so i put in a request for withdrawal and said to my account manager i won't be able to talk i need time. Just put through my request.

He didn't want to, and he emailed me saying ' i have already put you in for a trading event it would be irresponsible of me to not go through with this', and in my vulnerable state of mind, i needed the money and if i could get more, i would regret not taking the opportunity of a 'premium account' service. and cancelled my withdrawal request.

Reluctantly, I went through with the ''VIP'' trading event, at his advice of 5-7% of capital per share, and ended up losing 60% of my total capital at a very sensitive time for myself.

He did not care one bit and didn't respect my decision to withdraw my full deposit when i needed to .


I have been depressed with a sinking feeling in my stomach all week and feel like i have been robbed. He knew i wanted to withdraw my money, so it felt like he wanted to make me lose before i withdrew.


I approached my bank, and after describing it all, they agreed to take my case further. Between now and 2 weeks time, i need to provide proof and as much evidence as i can of ' misrepresentation of services', and if anybody can help me, it would be great.

I have emails, i dont have any chat transcripts because conveniently the account manager has now disappeared, nor do i have phone call recordings. I do have screenshots of my portfolio, withdrawal requests, 2 exact same trades had different 'current rate' values.

I have taken a screenshot of the services provided by a gold account / premium account and what that entails.

I was told i could potentially make 15-20% and that i should wait until monday. I did not expect to lose 60% in one session. That to me is reckless, unprofessional and irrational with my money.

I know what will happen, banc de binary will come out and throw the 'risk warning' document and say that the customer is well aware. Nah BDB, your experienced ''account managers'' are false and only there to rob people off their money because you know once they make money they want to withdraw.

60% loss IN ONE TRADING SESSION... service off a premium account !? thats not a service, i did not trade that myself without a service did i ?


anyway guys, i could do with alot of help and assistance and anything that could give me ammunition to put forward to the bank to fight my chargeback case. Looking through here, looks like not many people are successful with a chargeback.


also, i sincerely hope nobody has had this deep gut feeling of despair and loss. Dont wish it upon anyone and the fact the US authorities have banned them, that should be a warning sign.

I hope we all fight this.

 

[funekan2]

Continuing with my banc de binary nightmare. I lodged a complaint with their complaints Department regarding the money I lost through irresponsible advise on trading from their side. Today the so called complaints Department is responding by saying they can offer me 10 000 bonus to start recovering the losses. Remember I lost 64000. Please advise, do I accept this offer and my gut tells me its just another trap because they know I have evidence that they gave me trades, and they even went to the extent of lying saying the person who gave me those trades is suspended and they are investigating( i know they are lying but interesting it is in writing). I want to pursue this and report it to Cysec, I am told I should give them 2 months to investigate before I report to Cysec though I know they are not investigating anything. I feel I should not accept this bonus amount as it is a trap to have my case closed. Can people please advise. On the other side do you know of anyone that has been assisted by this Cysec. I know people are going to say I traded on my own and I could have refused to trade. But on the other side I feel I have a case as they are legally not allowed to tell a person how to trade. Your advises will be highly appreciated.

 

[Pertti]

Cysec can do absolutely nothing except suspend their licence and I honestly wonder how they still have it.

Read the decision of the Financial Ombudsman how they work without losing a license. They don't respect Cypriot authorities at all.

https://www.forexpeacearmy.com/comm...ncial-ombudsman-against-banc-de-binary.48450/

 

[novatrice1]

On the Internet there are hundreds of complaints about Banc de Binary.

I make you send a link is in French:


http://trader-en-ligne.eu/banc-de-binary-vous-avez-dit-arnaque/


A fine by the Cysec of 350 000EUR for Banc de Binary the broker closes its doors in France

1. Amende Cysec de 350.000€ pour Banc de Binary, le broker ferme ses portes en France
   

Banc de Binary must pay a fine of $ 11 million in the United States

1. Banc de Binary doit payer une amende de 11 millions de dollars aux Etats-Unis
   

All you can do is carry painte

 

[funekan2]

Cysec can do absolutely nothing except suspend their licence and I honestly wonder how they still have it.

Read the decision of the Financial Ombudsman how they work without losing a license. They don't respect Cypriot authorities at all.

https://www.forexpeacearmy.com/comm...ncial-ombudsman-against-banc-de-binary.48450/

Ok thanks so you reckon its either i accept their bonus and learn to trade on my own hoping to recover as reporting to Cysec will not help me in any way.

 

[Pharaoh]

Don't give up on Cysec yet. The Ombudsman just started handing out decisions. Make sure everyone at Cysec and the Ombudsman know about this.

Plus, if you take other actions (chargebacks, lawsuits), that Ombudsman decision would be an incredibly strong piece of evidence.

 

[funekan2]

I have now received this document and as per the advise of Pharaoh I have not accepted nor signed anything. I have requested them to attach the clause that informs the amount of trading volume and to also explain the formula plus put the amount in words also. This figure doesn't make sense as it looks to me like 2 million. How on earth would I accept 10 000 after losing 64000 and be expected to reach 2 million trading volume. Kindly share your views and advises.

 

[Pharaoh]

10 million. Looks like BDB hasn't lost their sense of humor. I'm sure they laughed themselves sick while creating that offer for you.

 

[funekan2]

Hi Phar

10 million. Looks like BDB hasn't lost their sense of humor. I'm sure they laughed themselves sick while creating that offer for you.

The offered to give me bonus of 10 000 USD but what is not clear is the trading volume to be reached which is written as 2277820. This does not make sense in whatever calculations I use. I have asked them to put convert the amount in words and still waiting and they must also state the formula used to calculate this amount.