• Please try to select the correct prefix when making a new thread in this folder.

    Discuss is for general discussions of a financial company or issues related to companies.

    Info is for things like "Has anyone heard of Company X?" or "Is Company X legit or not?"

    Compare is for things like "Which of these 2 (or more) companies is best?"

    Searching is for things like "Help me pick a broker" or "What's the best VPS out there for trading?"

    Problem is for reporting an issue with a company. Please don't just scream "CompanyX is a scam!" It is much more useful to say "I can't withdraw my money from Company X" or "Company Y is not honoring their refund guarantee" in the subject line.
    Keep Problem discussions civil and lay out the facts of your case. Your goal should be to get your problem resolved or reported to the regulators, not to see how many insults you can put into the thread.

    More info coming soon.

Problem Another Bank De Binary (BDB) loser despite VIP status

I am having an issue with a company

zzzztj

Private, 1st Class
Messages
25
Hi All,

Well, here because I feel I've been scammed by bank de Binary but not because I've lost trades, although that's financially cost me that's not what my complaint is. My complaint is that you use an analyst because they have more skills than you do and therefore expect them to have your account in interest.

However it seems that the whole industry is setup to only make money when you lose and that is a clear conflict of interest. Imagine if your lawyer only got paid if you lost your case, or (and actually worryingly this may well be case) your doctor only gets paid when you get more ill.

So much for regulation (in fact the same type of regulation that allowed the financial crisis to happen)

So in my case, I was promised VIP treatment, and the same story as many others here, you get a few good trades in to encourage you to put more money in then you lose the lot. They give you bonuses but this is pretend money because you can't access it, it's just a ploy to make you put more in.

In my case I've now been referred to 'Recovery', who want me to put in another 7-8k (protected) to help bring the balance up. In my case I've had 31k of bonuses so in order to be able to withdraw anything I would have to make the account over and above 31k.

In my case i did nearly everything on skype so I have an almost complete transcript of my dealings with both my account manager 'Jack White', and now the Recovery Agent David H.

Interestingly the recovery agent has admitted negligence of Jack by saying there was no risk management and that he wished agents like that didn't work for the company. As far as I am concerned this is an admission of negligence and professional conduct.

However, in the bigger picture, the type of regulation needs to change. I understand that CyReg (Cyprus Regulators) have banned the paying of bonuses but actually agents should be paid bonuses - on winning accounts.

Actually to try and tilt the scales in my favour I offered Jack quarter of a million for every million he had made me. BDB are obviously paying him more. I would quite happily have paid this and seen it as fair remuneration for his services over and above his pay.

So from what I can see, a lot of people losing and only a couple 'winning' through regulators and complaints processes.

If you're thinking about BankDeBinary BDB or any of the hundreds of other names they use, don't. Just don't.

#bdb #bankdebinary #scam #binaryoptions (tags put in for online searches as I want as many people to see these messages as possible) I have a lot of spare time and a very insane sense of injustice.

I've read some of the advice on here and I'll be following up with the regulators and any other methods I can think of to get some changes made. Any thoughts/ideas then post them here.

Edward
 
The VIP status criteria in these companies is to be a big loser, I am sorry to hear you lost that much.

Personally, I don't believe in any regulation has to do with binary, the dark side is strong with them.

Can you tell me how much did you deposit? when? and how?

Now go ahead and invite them through email/chat/skype to join this thread and explain themselves.
 
First and foremost, don't put one more cent in with BDB. They'll say ANYTHING to convince you that one more deposit is all that's needed to fix the problems. If you agree, all you'll be doing is throwing money away.
 
Hi, thanks for the replies.

For the how and why, it was based on a few wins and a lot of lies, as I've read many others were. It's standard practice it seems. Now I've found this site and read the other stories then no, not another cent. There is a site that scams the 401 spammers for fun which is really interesting, if only there was a way of doing that back.

It was 25k USD in total, a few thousand at a time, he kept giving me wins each time up to this point then tried the 60 second method which I'd seen on youtube to tried it and burnt about 30k which was in the account. Then he (true to his word) bumped the account back up to 25k. Then got another win. I was about 31k in holding which was about equal to the amount of bonuses and hadn't heard from him for 2 weeks so i tried to withdraw it to discover that you can't withdraw bonuses. So I said what's going on because he'd not kept in touch and straight away he gave me another win, bump up to 34k, then gave me another trade which blew the lot. He then said I was being passed to recovery (which again is pretty clever because it makes you feel safe) but as soon as recovery asked for more money I'm thinking a) I don't have anything left to use and b) putting more money in is not a recovery and c) where's the promised 25k protected (you'll see in the transcript all the way he's promising protection). I asked him about options insurance as that's on the trade screen and I'd seen other options traders using insurance but he didn't answer.

The complete transcript for the account manager is here

http://smallism.org/images/jackw.transcript.txt

and the very short one from the recovery department here

http://smallism.org/images/david h bdb.txt

It's really bad timing as well as I'm working away from home for a few weeks. on which point, I have to log off, but I'll be back as soon as possible.

Again thank you for the comments. I spoke to Antony on Skype and he said "there is no non-nuclear option", but hey, I'm all about the nuclear options if I can rally the masses.

Edward
 
Hi, thanks for the replies.

For the how and why, it was based on a few wins and a lot of lies, as I've read many others were. It's standard practice it seems. Now I've found this site and read the other stories then no, not another cent. There is a site that scams the 401 spammers for fun which is really interesting, if only there was a way of doing that back.

It was 25k USD in total, a few thousand at a time, he kept giving me wins each time up to this point then tried the 60 second method which I'd seen on youtube to tried it and burnt about 30k which was in the account. Then he (true to his word) bumped the account back up to 25k. Then got another win. I was about 31k in holding which was about equal to the amount of bonuses and hadn't heard from him for 2 weeks so i tried to withdraw it to discover that you can't withdraw bonuses. So I said what's going on because he'd not kept in touch and straight away he gave me another win, bump up to 34k, then gave me another trade which blew the lot. He then said I was being passed to recovery (which again is pretty clever because it makes you feel safe) but as soon as recovery asked for more money I'm thinking a) I don't have anything left to use and b) putting more money in is not a recovery and c) where's the promised 25k protected (you'll see in the transcript all the way he's promising protection). I asked him about options insurance as that's on the trade screen and I'd seen other options traders using insurance but he didn't answer.

The complete transcript for the account manager is here

http://smallism.org/images/jackw.transcript.txt

and the very short one from the recovery department here

http://smallism.org/images/david h bdb.txt

It's really bad timing as well as I'm working away from home for a few weeks. on which point, I have to log off, but I'll be back as soon as possible.

Again thank you for the comments. I spoke to Antony on Skype and he said "there is no non-nuclear option", but hey, I'm all about the nuclear options if I can rally the masses.

Edward
 
hi all. I did reply to this thread but it doesn't seem to have got through.

I have been contacted by the account manager who has told me that I didn't"understand the process". As I've been (and am) travelling for another week I can't deal with this right now but when I get back home I will continue.
 
Sorry to hear one more case from BDB. David H is one of the same person who scammed me.

Interestingly the recovery agent has admitted negligence of Jack by saying there was no risk management ====> They do it intentionally (as part of standard process). In this way they can ask the client to deposit more. They might even say that, this earlier manager was heavily fined and removed. However won't return your earlier losses but ask to deposit more. Just a gimmick.

The below is another gimmick.

[22/07/2015 19:36:44] David H.: I will not work with you on such amounts mate
[22/07/2015 19:36:53] David H.: I will not take such risks
[22/07/2015 19:37:09] David H.: recovering 25k need as sufficent amount in the account to be done correctly

And later on they will say CEO group (above VIP group) as well, which can recover faster. Stay away and complaint everywhere possible.
 
If you understood the process, you would never have put your money in.

The process is like this:

1. Lure you into making a small deposit with promises of easy profits.
2. Say they can make more money if you deposit several thousand dollars
3. Oops, you can't get those special benefits unless you add several thousand more.
4. Oh my, your account is in danger. You need to deposit more.
5. You are only $5000 away from super-ultra-VIP status. Members who have that can get "perfect trades that never lose" and even have insurance in case the trades do lose.
6. Sorry, the trades lost, You need to deposit $10,000 to activate the insurance and retain your super-VIP status.
7. Out of money? BDB will help you lie to your bank to get loans. While waiting on the bank, please borrow from your relatives.
8. More and more of the above.
 
Hi all, I am back from my travels and am going to start actioning on this.
I would like to hear from anyone else who hasn't yet created a complaint and maybe we can work together.

My account currently has about $600 left in so I will give my agent one more chance, I suspect he will say the same as he did last time, that he wouldn't 'recovery' my account unless I put another 7k in. This clearly isn't going to happen.

If anyone has any links or information about the best ways and people to complain too I would dearly like them.

Thanks all.
 
Back
Top