Problem Banc De Binary on repeat

[Banc De Binary]

Thank you for the update Stung.

 

[Pharaoh]

If you don't see real progress soon, go ahead and file with Cysec and the Cyprus Financial Ombudsman. You can always withdraw those complaints if BDB really pays you all that they owe you.

 

[Kotton]

Long story short unless you have evidence over them that would beat them in a court of law you will not see your money. These companies are tightly regulated and they trade down your account balance because they cant take funds in your account as that is theft, so the only way for them to legally take your money is to purposely trade it at a loss. I'm pretty certain these companies will be required to hold records of all investments made for each account for many years so you could maybe try and legally aquire these records as proof of purposeful neglect of your account, not really sure how else you would get your money back without at hand evidence of misdoing. Personally I think these brokers are sick, they take personal pleasure out of the misery and humiliation of others and its on the same level as sickness as sexual predators. After reading some of these terrible stories, mostly involving bancdebinary and Edward West I'm going to look into trying to escalate this industry problem to the EU. Governments don't care if people lose money really but when they have to pick up the tab for peoples missing retirement funds they might start to realise that they are getting scammed by these companies too. Unfortunetly these companies make more money from the interest on held funds than they pay in fines so regulators like Cysec don't really work.

 

[Stung]

Thanks for your comments, I am dealing with the complaints department and there is progress, I am seeking some independent legal advice to see what my best option is. I agree that this is not appropriate treatment of people and their money, the trigger for the complete loss of funds is when the client requests to withdraw money.

I do have evidence which is supporting my case. I was told that cysec is not the regulator for accounts outside the eu so basically complaints made to cysec are forwarded to bdb

 

[AnneW]

Thanks for your comments, I am dealing with the complaints department and there is progress, I am seeking some independent legal advice to see what my best option is. I agree that this is not appropriate treatment of people and their money, the trigger for the complete loss of funds is when the client requests to withdraw money.

I do have evidence which is supporting my case. I was told that cysec is not the regulator for accounts outside the eu so basically complaints made to cysec are forwarded to bdb

Good for you that you have video evidence over them. I do not have any of that unfortunately. The Financial Ombudsman Office has not even responded to me after my official report with the €20 and I've followed up with them on the same again yesterday. I hope that you get all your funds back from these scammers.

 

[AnneW]

Long story short unless you have evidence over them that would beat them in a court of law you will not see your money. These companies are tightly regulated and they trade down your account balance because they cant take funds in your account as that is theft, so the only way for them to legally take your money is to purposely trade it at a loss. I'm pretty certain these companies will be required to hold records of all investments made for each account for many years so you could maybe try and legally aquire these records as proof of purposeful neglect of your account, not really sure how else you would get your money back without at hand evidence of misdoing. Personally I think these brokers are sick, they take personal pleasure out of the misery and humiliation of others and its on the same level as sickness as sexual predators. After reading some of these terrible stories, mostly involving bancdebinary and Edward West I'm going to look into trying to escalate this industry problem to the EU. Governments don't care if people lose money really but when they have to pick up the tab for peoples missing retirement funds they might start to realise that they are getting scammed by these companies too. Unfortunetly these companies make more money from the interest on held funds than they pay in fines so regulators like Cysec don't really work.

Hi Kotton, appreciate anything you can do to bring these scammers to light.

 

[Pharaoh]

Cysec already slapped them. Report everything to the Cyprus Financial Ombudsman.

 

[oscarra]

I was told that cysec is not the regulator for accounts outside the eu so basically complaints made to cysec are forwarded to bdb

Yes, of course these complaints are forwarded to the company, giving them time to eventually fix the
problems etc…..sounds as lot of confusions here……….

Ombudsman’s services are indented for consumers, free of charge (ok, 20eur) a Law office would
cost quite more, so prior any conclusions wait for their written responds, which of course will
take time, same thing with a Law office.

 

[keysha]

Hi Kotton, appreciate anything you can do to bring these scammers to light.

I had a lot of money in my account. I caught on to their trade down to 0 scheme. Then I placed many withdrawals. They would not allow it. They then locked me out from accessing my account. They stole all the money from my account, approximately 219K. Now I have 0 in my account.

keysha

 

[Kotton]

What has happened to you people really winds me up and I've been trying to think of a way for you to beat them. Getting your money back quick isn't going to be easy if chargebacks are unsuccessful. However, regulated brokers display a message on their site along the lines of * Trading is risky, you may lose more than you invest, do not invest money you cannot afford to lose* this is a legal requirement. I've seen countless stories now against BancDeBinary stating that people were pressured to take loans and borrow from friends and invest more than they can lose and on top of that reassured over and over that there money was safe. This is a major breach of their regulations. Unfortunetly Cysec will receive numerous complaints from people who have lost money and a lot of them will be people trying their luck after losing because they have nothing to lose and potential much to gain. The other problem with Cysec is that they make money from fines from these companies so removing companies cuts down their annual income which I think is a bit of a conflict of interest. However if you try and make a joint complaint to Cysec specifically against the illegal actions of one of their employees (Edward West) it may stand out from the rest enough for Cysec to take action quicker. Those with actual evidence of that employee pressuring you into take loans and making false reassurances about the status of their money should make a joint complaint with evidence and others who have no evidence but a problem with the same employee should piggy back the complaint. Cysec do have the right to remove employees that do not fit the company structure and someone working outside the regulations would be removed, they should then conclude that all accounts this individual dealt with should also be reviewed. Aswell as a Cysec license these brokers also have individual licenses for each country they operate in which can be viewed on Cysecs website. Take that license number and use that to complain to the relevant fraud department within your own country as this license is your countries way of saying you may trade with our citizens and they wont take fraud lightly. From the stories ive read here its scary how serious this is within a regulated company. Personally I think the lack of a reply from BancDeBinary for a while may have something to do with them seeking legal advice.