Banc de Binary and other Israeli companies... An investigation

[Matushka77]

Hey y'all, I apologize in advance for my ignorance, as this is not my field of expertise at all! But the tide has started turning - or so it seems - in Israel, and I just wanted to share an article and a blog post from there, to see if any of you can find yourselves in the experience. I would not claim that the majority of Israeli companies are fraudulent - I guess to confirm such research is virtually impossible - but some of the names you mention here - including Bank De Binary - are Israeli owned.
I don't know how helpful this may be in case of cross-border fraud, but anyway, hope this starts something:

http://www.timesofisrael.com/the-wolves-of-tel-aviv-israels-vast-amoral-binary-options-scam-exposed/

http://blogs.timesofisrael.com/binary-options-why-are-the-victims-silent/

 

[TCentral]

Hey y'all, I apologize in advance for my ignorance, as this is not my field of expertise at all! But the tide has started turning - or so it seems - in Israel, and I just wanted to share an article and a blog post from there, to see if any of you can find yourselves in the experience. I would not claim that the majority of Israeli companies are fraudulent - I guess to confirm such research is virtually impossible - but some of the names you mention here - including Bank De Binary - are Israeli owned.
I don't know how helpful this may be in case of cross-border fraud, but anyway, hope this starts something:

http://www.timesofisrael.com/the-wolves-of-tel-aviv-israels-vast-amoral-binary-options-scam-exposed/

http://blogs.timesofisrael.com/binary-options-why-are-the-victims-silent/

I had the chance to work for this absolute scammers - BDB back in 2013. I managed quite fast to get to their seniors. I left within my third month. I have to say, you have to be without a heart in order to work in such company. Brokers are paid 1500 EUR per month + 3% from money in - trust me not even 5% of all deposits gets ever out!
Average targets for junior sales are from 50.000 per month, Seniors are with targets 100k and over...
Team in BDB was and is right now - 8 -20 people so imagine Limassol office alone, how much are this guys making per month.
A good Broker there makes per month arround 4000 EUR - Net, in order to do that, he needs to basicaly steal from naive clients around 100k per month, he gets 4k net , BDB 95k.
It is without a question the best business and keeps on and on. Branding a BO company is less then 50k investment, it is really amazing how many people even today fall in this trap and it is even more amazing why no Authority beside the US ever took action versus all this fraud, the global scam of BOs which are nothing but a rigged Casino game in the hause and against the hause, not to mention no one is ever stopping the even bigger evil out there - providers like SpotOption - who arms all this scammers with the rigged platform, CRM, BackOffice and payment systems...same company gives all this also to not regulated BOs companies - not that regulation means anything, beside making a bit money with small penalties on the back of the naive clients...really horrible story reading this forum and reading about so many destroyed people.

 

[FxMaster]

Check this thread to get you money back
https://www.forexpeacearmy.com/comm...ny-we-can-help-you-get-your-money-back.44561/

 

[TCentral]

Check this thread to get you money back
https://www.forexpeacearmy.com/comm...ny-we-can-help-you-get-your-money-back.44561/

There is no Money back, possible only if no DOD signed or bonus contract. Most of the people who put there over 5k have signed all that, I am sure, cause I know how naive were they to deposit such money there at the first place. As soon as you have signed, your money is gone. You will be ping - ponged between the sales team and be promised anything till the level you are completely dried out on cash. The contracts and the forms are made and cover all legal part. After all it is the client who gambled his money away, his own fault. If they start giving money out this will mean in other words that clients can experiment with trading - if I win, I withdraw, but if I lose - I can request charge back ?
The problem is at the first place the existence of such absolutely unregulated business with access to the entire world - online.
The get rich BS is going on many years and people are too lazy to educate themselves before it is too late.
I see the problem rather in the ruthless and absolutely criminal way people get promised things over and over again.
All this is out there so many years, hundreds of millions have been stolen - yes stolen. So why is no one doing anything to regulate or to bann this total fraud? I guess the main reason is that so called regulation authorities are fed on this same money ...so who cares after all - beside the victims...

 

[Danny]

Hey, Through Rebecca and my investigations we uncovered this a long time ago. We are so happy here at winchargeback that it is finally getting the exposure it needs.
If anyone out there needs our assistance please contact us and check out our site.

We may be able to help you

As recommended by Forex Peace Army

https://www.forexpeacearmy.com/comm...ny-we-can-help-you-get-your-money-back.44561/

 

[Matushka77]

I had the chance to work for this absolute scammers - BDB back in 2013. I managed quite fast to get to their seniors. I left within my third month. I have to say, you have to be without a heart in order to work in such company. Brokers are paid 1500 EUR per month + 3% from money in - trust me not even 5% of all deposits gets ever out!
Average targets for junior sales are from 50.000 per month, Seniors are with targets 100k and over...
Team in BDB was and is right now - 8 -20 people so imagine Limassol office alone, how much are this guys making per month.
A good Broker there makes per month arround 4000 EUR - Net, in order to do that, he needs to basicaly steal from naive clients around 100k per month, he gets 4k net , BDB 95k.
It is without a question the best business and keeps on and on. Branding a BO company is less then 50k investment, it is really amazing how many people even today fall in this trap and it is even more amazing why no Authority beside the US ever took action versus all this fraud, the global scam of BOs which are nothing but a rigged Casino game in the hause and against the hause, not to mention no one is ever stopping the even bigger evil out there - providers like SpotOption - who arms all this scammers with the rigged platform, CRM, BackOffice and payment systems...same company gives all this also to not regulated BOs companies - not that regulation means anything, beside making a bit money with small penalties on the back of the naive clients...really horrible story reading this forum and reading about so many destroyed people.

Oh man... Thanks so much for this! Makes a lot of sense. And I see there is a lot of "corporate brainwashing" for the traders themselves, all the good life and the money and girls and what not, so that they get disconnected from reality very quickly, at least a great deal of them

 

[Pharaoh]

There is no Money back, possible only if no DOD signed or bonus contract. Most of the people who put there over 5k have signed all that, I am sure, cause I know how naive were they to deposit such money there at the first place. As soon as you have signed, your money is gone. You will be ping - ponged between the sales team and be promised anything till the level you are completely dried out on cash. The contracts and the forms are made and cover all legal part. After all it is the client who gambled his money away, his own fault. If they start giving money out this will mean in other words that clients can experiment with trading - if I win, I withdraw, but if I lose - I can request charge back ?
The problem is at the first place the existence of such absolutely unregulated business with access to the entire world - online.
The get rich BS is going on many years and people are too lazy to educate themselves before it is too late.
I see the problem rather in the ruthless and absolutely criminal way people get promised things over and over again.
All this is out there so many years, hundreds of millions have been stolen - yes stolen. So why is no one doing anything to regulate or to bann this total fraud? I guess the main reason is that so called regulation authorities are fed on this same money ...so who cares after all - beside the victims...

You are telling people to give up on getting their money back. That's the kind of attitude scammers LOVE.

Cysec is FINALLY waking up to the monster's they've unleashed. Holding back investor money based on bonuses is a violation of Cysec rules. BDB already got hit with one Cysec fine. They can do it again. The Cyprus Ombudsman hasn't yet been fully tested to see if they have any effectiveness or not.

Even with a signed DOD, there may be other valid reasons for a chargeback. There are also plenty of valid reasons for civil lawsuits against binary options companies.

And... looks like the first large scale lawsuits just got announced today.

https://www.forexpeacearmy.com/comm...ction-lawsuits-against-several-brokers.44762/

 

[MunaL]

Whatever, I guess, being scammed is just something one can never take it lightly. Go all the way to recover the money with all effort. I believe justice will prevail. Cheers.

 

[MunaL]

Keep sharing...thanks to this website.

 

[oscarra]

There are also plenty of valid reasons for civil lawsuits against binary options companies.

Travelling is already high risk for scammers, it sure looks it will get worst….

Yesterday, French Financial Authority’s, provided a special press conference assisted by FRANCOIS MOLINS, country’s main Prosecutor, tracking as well terrorism, he stated French Consumers, Investors had been frauded by FOUR BILLION EUROS, related to ORGANIZED CRIME.
I guess he perfectly knows, what he is talking about !