GUILTY Case# 2015-062 | naveen1020 vs bancdebinary.com

[naveen1020]

Again, here by thought of replying to highlight valid points. Better to leave this particular discussion here ruseneca.

Even though they've offered you such proposal ( by accepting you in the CEO's group ), you've gambled your deposit by opening orders without any signal or knowledge what you're doing. If we accept that the broker is guilty, that decision should be based on the fact that you have been excluded from the group because you were promised to stay in the group ( and receive several signals per day ) after making a deposit. After making your deposit, firstly, you are receiving less than promised and secondly, you were excluded for a reason. I cannot call this cheating or scamming but a simple way to "help you" in the decision-making process. It is your obligation to keep your capital safe and refuse any offer to make a deposit. Whatever they offer you, it won't be enough to recover your losses within a single week. You could have recovered your losses in a month or two with a high risk again.

1. Here is the cut out of skype conversation. Is below a valid reason for moving me out of CEO's group? If don't deposit 10k again, move out of CEO's group. Also, what is CEO group and non CEO group. You mean to say traders in non CEO's group were given false signals. This is another scam, similar to VIP group (i.e deposit >50k itself is VIP group and what is this CEO and non CEO. non sense).

[24/3/2015 1:46:42 PM] Danny Goldman: Mr. Laurent wants another 10K in the account and another 25K from his end
[24/3/2015 2:57:21 PM] naveen_k: I don't have...yesterday itself told lies to increase temporary limit increase
[24/3/2015 2:58:21 PM] naveen_k: You can help to increase balance with current account
[24/3/2015 2:59:31 PM] Danny Goldman: Yes, but CEO wants 10K more for 25K and to keep going on his group
[24/3/2015 2:59:47 PM] Danny Goldman: Try to lie to them again

By providing you singals, they just want to retain their client. Noone is 100% sure whether the price of a certain asset will go up or down within a certain time frame. We can only predict that!

1. Things are simple. Provide only confident signals. Ofcourse we know no one is 100% accurate. If a broker gives more than 90% wrong signals, he is unfit for that job. Better to close the firm. If unsure, don't give it. After stressing so much he repeatedly gave wrong. If he is serious, when first signal is wrong atleast then he has to be careful for second one. As said,

26/03/15 --- Balance went from 125k to 10k due to wrong signals
27/03/15 --- Balance went from 10k to 3k due to wrong signals.

2. Then, why tell false that they have risk free trades (clear scam).

3. He also not attended any of my calls (called more than 10times) on 26/03/15.

Their duty is to take your deposit and you just gave it by gambling it away. Noone had an access to your account, noone had ever asked you to open options which had been provided to you by signal provider. It is your decision whether to accept or deny this signal. Moreover, you had not placed a withdrawal request when your balance reached $127K and put the guilt on an account manager who gambled your account ( as it seemed to me in the beginning ). If someone had an access to your account and really started to place options without your knowledge and without your permission, that would be counted as a scam or a cheat. But since your loss is due to the fact you have placed these options without any information which is actually a gambling, I can fairly say that all 65 votes ( till now ) that the broker is guilty had come from their competitors OR traders who had not read the entire case.

I just cannot find anything that I can describe as a form of cheating or scamming as you even had not placed a withdrawal request with suh a high profit in your account.

1. "Their duty is to take our deposit", This is right. Their duty is to suck our money.
2. Inspite of full conversation history, you still saying that I opened trades without any information, whereas this information is clearly provided by brokers. Anyway, I will leave it here.
3. People voted here are very seniors and few who experienced similar way.
4. Better read the conversation. I hardly had 2.5hrs from the time I had over 100k to 10k. Also your statement doesn't make sense. What is the link between not placing a withdrawal request and this.

[26/3/2015 8:20:32 PM] Danny Goldman: You're going to contact my customer service requesting a withdraw now?
......
......
[26/3/2015 10:40:42 PM] naveen_k: now only 10k in my acc.. and I opened all the trades as per chris instructions..

 

[ruseneca]

1. Things are simple. Provide only confident signals. Ofcourse we know no one is 100% accurate. If a broker gives more than 90% wrong signals, he is unfit for that job. Better to close the firm. If unsure, don't give it. After stressing so much he repeatedly gave wrong. If he is serious, when first signal is wrong atleast then he has to be careful for second one. As said,

26/03/15 --- Balance went from 125k to 10k due to wrong signals
27/03/15 --- Balance went from 10k to 3k due to wrong signals.

Naveen, this is a binary options broker!!! It is in their best interest to provide your with false signals or at least propose you a loosing scenario where 80% of deals are profitable and only 20% are loosing BUT the percentage allocated to your options can sunk the whole ship. There are special softwares integrated to each platform which check how such plans are going. When you win, you actually raise the risk for the broker. It is something that they don't like very much. They provide you with signals but it is up to you to decide whether to accept the signal and open an option, whether to accept the signal and change something or completely skip the signal.

2. Then, why tell false that they have risk free trades (clear scam).

As far as I am informed from convos in the text files, you have been granted a bonus. There's no difference whether broker will give you $5,000 as a deposit bonus OR $5,000 which come from 3 or 5 risk-free trades.

3. He also not attended any of my calls (called more than 10times) on 26/03/15.

Why he/she should do that?! To listen the same song again and again?! You have asked several times for a bonus and your request is always denied...It is just a waste of time to accept your call. And, in the end, your credit cards are empy which means no money for them. They would better spend it with a client whose credit cards are full...

2. Inspite of full conversation history, you still saying that I opened trades without any information, whereas this information is clearly provided by brokers. Anyway, I will leave it here.

Brokers' may provide you with information but it is up to you to sift the information and based on what you've got, to make your final decision. Texting to traders something like "APPLE 12:30 8K" does not open options, you must double check the signal. At least, this is your money which broker want. Of course they will try to distract you and say "hurry up, you don't have time" or "you lost because you've been so slow". Due to this fact, I never rely on signals and never ask when to open an order and how much lots to put in each other. Neither does Soros!

4. Better read the conversation. I hardly had 2.5hrs from the time I had over 100k to 10k. Also your statement doesn't make sense. What is the link between not placing a withdrawal request and this.

[26/3/2015 8:20:32 PM] Danny Goldman: You're going to contact my customer service requesting a withdraw now?
......
......
[26/3/2015 10:40:42 PM] naveen_k: now only 10k in my acc.. and I opened all the trades as per chris instructions..

They might have decided to empy your account within 60 seconds by asking you to buy an option for that time span and put everything in!!!

What I am trying to say during our conversation here is that you have acted too naive, you have gambled your savings, you've even emptied out your credit cards, lied to banks...to gamble! You loose and open a case, claiming that the broker has scammed you. You obviously have a problem with gambling and I do recommend you a meeting with a psychologist or someone who can really guide you so that you can find your mistakes and fix them.

Life continues even after such a colossal loss...Just enjoy the life and don't put too much stress on it. Don't take this financial loss too seriously, money is something that you can work for!

 

[naveen1020]

Naveen, this is a binary options broker!!! It is in their best interest to provide your with false signals or at least propose you a loosing scenario where 80% of deals are profitable and only 20% are loosing BUT the percentage allocated to your options can sunk the whole ship. There are special softwares integrated to each platform which check how such plans are going. When you win, you actually raise the risk for the broker. It is something that they don't like very much. They provide you with signals but it is up to you to decide whether to accept the signal and open an option, whether to accept the signal and change something or completely skip the signal.



As far as I am informed from convos in the text files, you have been granted a bonus. There's no difference whether broker will give you $5,000 as a deposit bonus OR $5,000 which come from 3 or 5 risk-free trades.



Why he/she should do that?! To listen the same song again and again?! You have asked several times for a bonus and your request is always denied...It is just a waste of time to accept your call. And, in the end, your credit cards are empy which means no money for them. They would better spend it with a client whose credit cards are full...





Brokers' may provide you with information but it is up to you to sift the information and based on what you've got, to make your final decision. Texting to traders something like "APPLE 12:30 8K" does not open options, you must double check the signal. At least, this is your money which broker want. Of course they will try to distract you and say "hurry up, you don't have time" or "you lost because you've been so slow". Due to this fact, I never rely on signals and never ask when to open an order and how much lots to put in each other. Neither does Soros!


They might have decided to empy your account within 60 seconds by asking you to buy an option for that time span and put everything in!!!

What I am trying to say during our conversation here is that you have acted too naive, you have gambled your savings, you've even emptied out your credit cards, lied to banks...to gamble! You loose and open a case, claiming that the broker has scammed you. You obviously have a problem with gambling and I do recommend you a meeting with a psychologist or someone who can really guide you so that you can find your mistakes and fix them.

Life continues even after such a colossal loss...Just enjoy the life and don't put too much stress on it. Don't take this financial loss too seriously, money is something that you can work for!

Ok.. Leave it..No point arguing with you. This is the default word "you gambled your money", when brokers empty our accounts. If you still continue to gamble clients money, stop it. Its absolutely nonsense to say %allocated to your options can sink the whole ship. If this is the case, he don't have right to run the business. 80, 20% should be applied on individual accounts. I know they will sink for everyone and say the same stories to all.

Learn to earn ethical way (not to cheat others). When 65 people vote for something and 1 vote for other, we know who need psychologist.

 

[zuijlen]

I just want to point that naveem is not the one on trial here. It's very easy as a bystander to judge that he should have withstood pressure, blah, blah, blah... But if Banc the Binary were an honest business, which they are not based on many other complaints, there would be no need for pressure and ways to cheat customers out of their money.

Binary options have turned into one of the sleaziest forms of "trading", and I hope this case serves as a warning for others to stay away from them.

 

[zuijlen]

Sorry, got the name wrong: it is "naveen". There doesn't seem to be a way to edit posts?

 

[AsstModerator]

There are restrictions on editing posts in certain folders. There are 2 reasons for this...

1. There was an account hacking incident where many factual posts were edited to say "Not true".

2. There have been too many cases of companies blackmailing clients into removing the content of their posts.

 

[Ibrahim Adam]

I hope you get your money soon from this scammers naveenm,i am quite experienced in forex and binary options and would like to tell you to be cautious in the future that there is nothing as a 100% or even 80% winning signals,no one in this planet knows where is the market is going to go next minute or next hour and if anyone in the world managed to know that accurately he will be richer than Bill Gates in 2 days so any company or any person tells you that they have 100% winning signal they r 100% scammers.

 

[adjabi]

Hello everybody , pharaoh
This is lojina pharoah I have samillar case with banc de binary, and I am sure ther are a scammer, I lost around $10000 dollars with the same way....
Pharoah, why you leave those people playing with our money?
How there is no any action taken against those?

 

[Naadhan]

They are scam brokers man ... But thank God I lost only 1000$

 

[sandowner]

My experience would suggest that most binary providers are scammers. Their so called experts are only interested in losing you money. Even if you were to find a good broker the percentage returns mean that you have to win at least 2 out of every three trades.
Their brokers generally have no idea of risk management, mine with U Binary traded as much as $3k on a trade with a $10k pot and having managed to save a large chunk of my account by closing trades early etc and being instructed to close the account and refund balance continued to trade and turn a $6k balance into $800 in 5 hours. Fortunately my card company recalled two amounts deducted from my card without proper authorisation and so I got a fair amount of my money back. My advice is avoid ALL binary bets. Spread the word and together we can put these scammers out of business.
Next bit of advice is NEVER follow losing traders in the hope they can regain losses, find another regulated honest broker or better still invest time in learning the skills needed to trade and manage your own funds. That way if you lose you can only blame yourself.