Banc de Binary: Biggest SCAM ever! they ruined my life

NetoB

Private
Messages
13
I was cheated, misled and scammed by Banc de Binary. I opened my account with $250 last February 2015. Immediately, I got a call from account manager Larry Morgan promising constant profits and good trading signals if I deposited more money. He initially asked for 15K but I just wanted to try, so I deposited only $1,000. Before even starting to trade he pressured me with calls and skype messages telling me that he couldn't work with me if I didn't deposit more money. The pressure was constant telling me to get a loan, use my credit cards or borrow money from relatives. Under the pressure and because he was very convincing I made a deposit of 10K with my credit card. He also gave me 100% bonus.

He gave me very few trades, nothing major but continued pressuring me to deposit more money. He said that if I deposited another 15K I was going to become VIP and have better trading signals and bigger profit % with each trade. And he offered me 125% bonus. Then, I got a loan with the bank and was able to deposit the 15K. Now mi investment was $26,250
First time he cheated me, he didn't make me VIP. He then said that if I deposited another 25K I could be VIP because only accounts over 50K are VIP. To make the story short, I deposited another 30K and received 125% bonus. I traded for one month with Larry. I couldn't withdraw any money because of the bonus and I needed to reach about $2.5 million in trading volume. I was able to get to $2.2 million in trading volume and in one trading session with Larry Morgan, and with 26K left in my account he told me to place all 26K in one asset and lost all my money.

After loosing my account he offered me to recover my capital. He offered me a recovery plan if I was able to deposit another 20K. The recovery plan consisted on 5 independent trades protected by Banc de Binary. The protection meant that if the trades expired out of the money, BDB would deposit the money back into my account. I live in Australia, and he knew that in Australia we are able to access our Supperannuation (retirement funds) if we set up a Self Managed Super Fund (SMSF). Larry Morgan gave me the contact of the company to set up my SMSF. I was desperate to recover my capital, so I did set up my SMSF and was able to deposit another 17K and got 100% bonus.

Larry Morgan had offered me to open a secondary account with my SMSF funds to trade conservatively, and the bonus capital was going to be accredited to my normal account for the recovery plan. This never happened despite me asking him many times about my secondary account.

Now I was in the recovery plan and confident to get my investment back. The first trades Larry Morgan gave me he told me to place all the capital in one asset selling IBM options. The market went the other way and I lost all the money again the same day the funds were released into my account.

When I asked to get my money back because BDB had protected the trades and because I was in the Recovery Plan, he told me that the trades had come from the recovery department but they couldn't give me my money back. The only way was if I made another 20K deposit. I knew there was something wrong at this point but I really needed to get my money back as I had attained 55K in debt that I still need to payout and I can't make the repayments.

Immediately after that, I got Skype messages from Mike Fisher and David Hope. Later that night I got a call from David Hope offering me a second "Recovery Plan" also offering me trades from a 'Protected Signals Group' with high winning probabilities and made me false promises that he would get me to a full recovery. The total loss at this point (capital + bonus) was $186K

I did everything possible and exhausted my last resource with relatives and was able to deposit another 13K for the second recovery plan with David Hope receiving 17.5K bonus. He specifically told me that if we placed a 10k trade and the trade expired out of the money, the money would be put back into my balance. I asked David Hope that I was not comfortable risking all the capital and that I needed assurance the trades were going to be protected. After a very stressful trading session that lasted about 1 hour. He initially gave me 4 winning trades and once he got my confidence he gave me 5 trades risking all my capital and expiring at the same time. All 5 trades expired out of the money and I lost all my money again.

When I asked him about the protection he said they had given me the protection with the 17.5K bonus they gave me in advance. Bunch of crap, they never told me that. Otherwise I would have never placed all my capital in 5 trades. Another statement they use is that 'they never forced me to take the trades' and that it was my fault. (Biggest scam ever)

Immediately, after losing my capital with David Hope, another account manager (Jeff White) called me offering a third 'Recovery Plan'. I felt like an idiot and disrespected by these blood suckers. I had believed and trusted them when they were misleading me all the time.

I complained to the company and I'm disputing what happened. Obviously, I haven't received any response. I have all Skype conversations and proof of what they offered to me.

I have placed a complaint with CySec but haven't heard anything back. I've also submitted a complaint with ASIC (Australian Securities and Investments Commission) to try and stop this people from targeting Australian citizens.

Never believe anything the account managers at Banc de Binary say. They are misleading, give false promises and only want to get your money. They will tell you to loan money with the false pretense of making profits. It's all a lie.
They have ruined my life, I lost in total 87K (with 70K in debt and 17K I lost from my retirement plan). I'm going into financial hardship because I can't pay my bills and repay my debts.

Skype ID's: Larry Morgan, Mike Fisher, David Hope, Jeff White

Do I have other resources to try and get my money back? Can I sue the company?
Any help or comment is greatly appreciated.
 

Gladiator76

Corporal
Messages
106
These are professional theives. Just do a search here and you will see how many people they stole money from in the same exact way. They keep convincing you to invest more money so they can keep stealing from you. NEVER trust any broker who asks you to put more money. This is only your decision and no honset broker would do that.

I will repeat the advices given in another thread by Pharaoh here on this scam broker:
1. Check with your credit card's issuing bank and present all the evidence to their fraud department. Ask if a chargeback is possible under the circumstances. Also, present everything to the Singapore police. Ask both if there's anywhere else in Singapore to report online financial fraud.
2. File a complaint with Cysec.
3. File a complaint with econsumer.gov - Your site for cross-border complaints.

And, open a case against them here in the FPA. It is really important they get exposed for who they really are, they have now 2 guilty cases against them and I think we just need another one so that the FPA can declare them offficially a SCAM.
 

FxMaster

Lt. Colonel
Messages
9,534
Three steps that you must follow

1st - Invite them to join this thread via email (Send email to every possible address).

2nd - Go to their website and invite them to here via Live Chat.

BDB Services LTD Victoria Corporate Suite 108,
Premier Building,
Mahe, Seychelles.

info@bbinary.com

CUSTOMER RELATIONS

Tracey Ludlam
Manager of Customer Relations
+44-2070992116
tracey.l@bbinary.com

Phone Book

Argentina+54 115 235 4363
Australia (Toll Free)+1 800 117 038
Australia+61 280 363 177
Austria+43 1229 7542
Bahrain+973 1619 9281
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Hong Kong+852 5808 4760
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Italy (Toll Free)+800 788 612
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United Kingdom (Toll Free)+0 800 404 6962
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United Kingdom+44 207 099 2097
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United Kingdom+44 203 318 8708
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United Kingdom+44 207 099 2116

3rd- Go to their Social media pages and share your STORY and Link of this Thread as a comment on latest post.

Social pages are

https://www.facebook.com/pages/Banc-De-Binary/312826402128569

https://twitter.com/BancDeBinary_EN

https://www.youtube.com/BancDeBinary

https://vimeo.com/bancdebinary

https://www.linkedin.com/company/banc-de-binary

https://plus.google.com/105560143297252336127


Also share your review at FPA Review page here BBinary.com (Banc De Binary) Review - Forex Peace Army



PS: We want your votes at open cases, check this section FPA Open Cases and votes for Guilty or Not Guilty.
 

naveen1020

Corporal
Messages
95
@NetoB, Very sorry to hear your case. We are in the same boat. These criminals cheat people and they should be closed. Ruin our lives.

And there are people like @ruseneca, who might argue that it is your mistake to trust them. It is their right to tell stories (only then they will get their pay cheques etc,.. etc..). Just ignore.

Let's fight to the extent possible.
 

Pharaoh

Colonel
Messages
19,959
Talking you into getting a bank loan and then getting you to raid your retirement fund. Is there no limit to how low BDB employees will sink?

I suggest an immediate complaint to Cysec as well as filing an FPA Traders Court case:

Forex Scam Resolution and Trader's Money Recovery

Contact the press and the police. If you can help get the word out, you can save others from the same fate.

Recently, someone posted a link to some place Australians can use to complain about online fraud. Does anyone have that link?
 

NetoB

Private
Messages
13
Thanks for your comment naveen1020. I'll do everything possible to expose these thieves. If we are in the same boat we can help each other, I'll try to find a way to get ahead into a resolution of my case. I'll keep fighting.
Cheers.
 

1wildhorse

Private, 1st Class
Messages
434
i really feel for you man.these guys tried to **** me over too,but i smelled something was wrong when they kept on changing their story.this company is the worst of the worst.they will happily bankrupt you.the leader of this bunch of disreputable thieves is called oren laurent i believe,and his personal email address is on these pages somewhere.i seem to remember at the start he was coming on here and pretending that they were a law abiding company and other such bull****.he got shot down in flames.
 

Carrie07

Private
Messages
10
Oh boy, sounds all too familiar. I had a very bad experience with the, too, which resulted in my £12,000 investment going down the drain. This included the, persuading me to max out my credit card. I only agreed to let them try so long as they tried to withdraw £10,000 and no less. (Documented on a Skype conversation with the ).. I knew this amount would be rejected. Instead, they started requesting smaller amounts from my credit card and I felt I was unable to do anything about it as cash seemed to come off easily! They fobbed me off with excuses that they had a good relationship with major credit cards, and they would guarantee I could withdraw it all immediately after trading. I feel so stupid about all this now. When my account was all but emptied, I had Mike fisher call me saying he was going to investigate how this could have happened since I was trading with a broker and placed the trades. He called me back the next day and said that I had been mis-advised and no risk management had been done on my account and the broker working with me, and his supervisor, were both being 'fined' for my losses. He then said that the £5000 they had been fined together with another 5000 they would put up would help me recover my losses...BUT .... I had to deposit another £5000 to do that. I laughed in him. They had maxed out my credit card knowing I didn't have the capacity to pay it pack, I made that quite clear! He simply told me to borrow it from a friend or bank .... En outraging me to get further into debt. I tried to get him to put in writing the circumstances of the offer so I could ask friends for a loan (which I had no intention of doing anyway) Unfortunately the only thing he put in writing in an email was that they would put £10000 in my account but I would need to put £5000 and if I wasn't going to do that, they would release the money to 'help someone else to recover' their losses. He phoned a could of time to try and persuade me like he was doing me a big favour. Surely if they have admitted mismanagement and have fined employees, they should just pay me the 5000 fine ..... It's madness. I am still reeling from what they have done and am trying to put together an email to outline their unethical and immoral handling of this. I don't suppose I have a single leg to stand on, but thought it was worth mentioning the undue pressure I received from the same company and that I fell for it too!!!
 

Pharaoh

Colonel
Messages
19,959
Carrie07, I hope you had a long chat with your credit card's issuing bank about unauthorized charges.

NetoB, I'm glad to see you filed an FPA Traders Court case.
 

Pharaoh

Colonel
Messages
19,959
Carrie07, I hope you had a long chat with your credit card's issuing bank about unauthorized charges.

NetoB, I'm glad to see you filed an FPA Traders Court case.
 
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