Anyone know about Banc de Swiss

[Rainer Leit]

Hello,

I am going to kick off this topic with , you guys probably see this kind of threads around this forum a lot and i have to admit , I am going to be one of them.

Since i am thinking about starting out small to try this new uncharted territories for me , i have some questions. I also am planning to do this as a hobby and not a day to day earning platform.

A) 200 Euros good to start out ? (279 usd)
B) I have been looking towards "Banc De Swiss" , are they legit ?
C) Is 1000 usd / eur a month realistic view considering my start up money ?
D) Have gotten a call from 2 "account" managers already. Are they bull**** ? or are they for real.


Thank you for you time.
Rainer.

 

[Pharaoh]

Any company that promises to make you EUR 1000 per month on an account that started with only EUR 200 is going to make a lot of money - for themselves, not for you.

Read this before placing a cent with any binary options broker:

https://www.forexpeacearmy.com/fore...raud-advisory-alert-about-binary-options.html


Consider this very carefully:

The inherent nature of binary options betting renders having an external liquidity provider virtually impossible. This would mean that your losses are the broker's gains and your gains are the broker's losses. Why would a broker employ "account managers" who have the ability to rack up huge gains for clients, considering that any withdrawals would harm the brokerage's bottom line? Why would these super-profitable account managers be spending so much time on the phone calling clients to beg for more deposits when they could spend that time trading their own accounts and making a fortune?

Then go to the Scam Alerts folder and read all the complaints about binary options brokers that use these so-called account managers. Note how many reports there are of these managers either blowing accounts right away or suddenly losing money when the client tries to make a withdrawal. Note how many clients of binary brokers report that they can't make any withdrawals no matter how much money has been gained or lost with or without the "help" of an account manager - and some of these brokers are even regulated by Cysec.


If you want to trade options, find a real options broker on a regulated exchange. If you want to trade retain forex, find a well-regulated broker that meets your needs.

 

[Rainer Leit]

While Banc De Swiss is regulated by Cysec and so is Zoneoptions. I am having hard time finding complaints about Banc De Swiss. Which is troubling me but at the same time satisfying.

The 1000 EUR a months was my point of view or hope to archieve. But when i did mention it to one of the account managers when they called , they did call it a realistic view.

 

[Pharaoh]

I've seen very little positive or negative specifically about Banc de Swiss. Always remember, no information does not equal good news.

Cysec is slowly moving in the right direction, but still does very little to protect clients from unscrupulous brokers.

If an employee tells you that it's realistic to expect to make 1000 Euros profit per week on a 200 Euro deposit, I can think of only 3 explanations.

1. The employee is crazy.
2. The employee is deluded.
3. The employee is lying.

Binary brokers are pretty much locked into operating line casinos. All the money comes from the gamblers, not from liquidity providers. Even if it was possible, what sort of broker would want clients to put in 200 and withdraw 52,000 per year? A handful of clients doing this would wipe the company out.

Skip binary options. Spend some time learning how to trade forex for yourself and open an account at a forex broker that is regulated and has a good reputation for order execution and processing withdrawals.

 

[Rainer Leit]

Interesting.

Lets say the broker refuses to let me withdraw my deposited money , would Cysec step in middle if id complain ?

I did try EToro for trading but in total i managed to get myself into minus with 2% which was kind of my own fault for choosing oil when china was on the news and some other open trades i had that i closed too fast.

But that is all a day or more investment trading while why i looked at the binary brokers was the 60 second thingy. They did intrigue me more.

 

[RahmanSL]

Despite our wise-and-learned-One telling you the facts, you seem very determine to chase the fantastic "promised profits" and have basically made up your mind to give your money to Banc De Swiss.


Go ahead and do what you want......and I supposed we will probably be seeing your next thread under "Scam" section.

 

[Rainer Leit]

Just as an update to this post.

I decided to withdraw and go back to more traditional way.


Getting way to many bad vibes from the binary options thing. Not only that but the " Account Manager" has been calling me way too much .

 

[Pharaoh]

I hope the withdrawal goes well.

Cysec is improving, but I wouldn't count on them responding quickly to any complaints. Even the most established regulators, like the CFTC, can take a long time to take real action.