Hi everyone. I saw this thread after doing a google search and wanted to tell my own story. I signed up to this forum just for this because what happened to the first poster "paulm1162" happened to me.
I came across binary options through another website "intellitraders" who had LBinary as one of their top brokers. Anyway, I am unsure to this day how LBinary even contacted me. I NEVER signed up myself on their website or anything. My information must've been passed to them somehow. Anyway, December 4th 2013 I get a call from LBinary on behalf of a "Michele Zapos". She is friendly, she tells me all about binary options, speaks to me for about 45 minutes and in the last 10 minutes I tell her I'd feel comfortable investing just $500 dollars and seeing how I do. She suggests this is "baby money" and that I should invest at least $2,500 to take advantage of the upcoming "NFP" trades coming up that friday and that the trades were insured backed and guaranteed. She also tells me I will get a bonus of $2,500 making my account $5,000. STILL NOTE : At this point I have STILL NOT have signed up to LBinary. Michele Zapos then goes ahead and CREATES MY ACCOUNT FOR ME. I loved the idea of course. So I let LBinary charge my debit card for $2,500. So now we skip to friday, December 6th. The whole time this "Michele Zapos" keeps in contact with me on Skype, assures me I am making the right moves, etc. The morning of the 6th, Michele Zapos isn't feeling well, has a cold, whatever. SO, a man named "Tony Preston" calls me in the morning around 8:30AM EST. He explains to me exactly what trade to enter and the parameters of the trade, so forth and such. Well its a short trade. 2 hours maybe. And it loses. Loses HARD AND BAD. I tell Michele Zapos that I'd like my money back and she says no problem and that I would get it back the following Monday. Monday the 9th comes along and I look in my LBinary account and $5,000 is there. Great. Then Michele Zapos informs me that I cannot actually withdraw any of money until I hit some 30x turnover and trade the money. I was outraged at this point because I was never informed upfront about any restriction about my money not being able to be withdrawn due to the loss of the insured trades. She tells me theres nothing I can do. 10 minutes later, "Tony Preston" calls me. He tries to explain that he doesn't know what happened, and why the trades went south and bad and assures me that if I just deposit another $2,500 that we can work together, make at least $20,000 in 2 months and I'd be fine. I tell him point blank NO, I stand my ground and tell him I just want my $2,500 back due to not being informed properly. He then gets VERY rude, cursing at me, telling me my $2,500 is baby money and it doesn't matter, that I should be a man and take the loss. That I'm not important due to it being only $2,500. I hang up on him. Then he calls back 5 minutes later telling me he can lower the turnover to x15 and such. I still tell him no. Then he starts pressuring me into using any credit cards I may have, any savings accounts, etc. I tell him I have no other money and I just want my $2,500 back and to part our separate ways. He skips right by my requests and continues to nag me for more money. THEN I just happened to be on my online banking account and I see it dwindle down right in front of my eyes. YES, This "Tony Preston" WITHOUT MY PERMISSION WHATSOEVER decided to charged my card until I had 1 dollar left in my bank account as a balance. He charged my card $700, $300 and $1,500. Rapid fire. Like 10 seconds apart from each other. I was outraged, I hung up and called my banking institution for help. They suggest I close my debit card. File a police report and come in and make a complaint and fraud complaint to get now $5,000 back. Not just $2,500. I was asking for the full $5,000 due to the first $2,500 being taken under false pretenses that I was insured and covered and would actually get it back into my bank account. So, I did all this within 24 hours. I stopped all communication with LBinary on December 9th. My bank informed me it would be a long process. I was prepared. LBinary needed documents, like utility bill, back and front of my credit card, My ID, etc. They NEVER asked me for this UNTIL IN MY BANK DISPUTE. My bank isn't stupid, they knew this was LBinary trying to cover their tracks and backtrack and such. I never filled that information out which they should of provided me ON DAY ONE. It was just too funny at this point. Furthermore Tony Preston tried contacting me several times. I never responded. So I filed my dispute with my bank December 10th. Got all my money back. All $5,000 of it returned to me by pleading my case hard March 15th. Just 2 days ago.
This place is a pure scam place. I suggest all to stay away.
I just wanted to share my story and if anyone has trouble with these people, I will try to help. DO NOT SIGN A SINGLE SHRED OF DOCUMENTATION THEY SEND TO YOU. Even if you do, I still think you can get your money back, but just don't if they offer and give it to you.
Thank you.
T-Tech Enterprises