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

[Taliana]

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?

I am sorry to get involved after so many years but found CYBER link- who looks after all the scams and frauds within Australia. Hope still helps!

 

[Pharaoh]

Is this the link? http://www.afp.gov.au/policing/cybercrime

 

[Taliana]

It is www.accorn.gov.au !

 

[Pharaoh]

Oh good. That gives us 2 links for reporting this financial fraud and cybercrime in Australia.

 

[Berty]

To the people out there who have been hurt and/or scammed by binary options fakes, there are still people that you can trust! I know it's hard to find people like this these days, but they do exist. One of which I have found (on Forex Peace Army) and recently been working with to recover my scammed funds. Rebecca Goodwin from ‘WINCHARGEBACK’ is truly someone you can trust!

She obviously can't promise results, but can certainly increase your chances of winning through her guidance and huge amount of experience in the field. In addition to this, Rebecca’s partner is a top lawyer so together they combine their expertise, ultimately presenting solid case for you, against the binary options brokerage. More important than this, is the fact that Rebecca has chosen to devote her life to helping people get what they deserve.

I was obviously concerned when I first approached Rebecca as I really had no idea of whether she was just another fake or not. However amongst the other trust she instilled, she stressed that she only gets a commission if we are able to retrieve the funds. I know for a fact she wishes she didn’t have to take any funds, however as she works on many cases with many people 24/7, it is only to make a living.

To be honest, Rebecca sees this as a win-win situation. The moment you work like this, you as a customer know for sure that you share the same interest. At the end of the day, if you don’t win back your funds, she does not get paid for all the time invested.

I only write this post as I want people to know there IS someone out there that can help! With Rebecca’s help, you have a REAL chance of getting your hard earner money back!

Please do not hesitate to contact me if you would like any further explanation of my experience. Otherwise, go straight to Rebecca’s website:

winchargeback.com

Good luck!

 

[Coldfear]

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.

Hi , where about in Australia do you live . I live in Australia as well .

 

[fejaber]

I'm sorry to hear all this complaints but at the end BINARY OPTIONS are not an investment but a gamble and the problem with all the binary options brokers is that, they advertise as investments firms when they should be in the CASINO section. Matter of factly there are some online casinos that are ofering binary options as another gambling instrument and making market as all this scamers are doing. Leting one of this traders decide your traders is like playing poker and showing your cards to your oponent.

 

[Taliana]

Melbourne. How about you?

 

[Coldfear]

Melbourne. How about you?

Hi Taliana, I'm also from Melbourne

 

[alxa1038]

Very sorry to read what happened to you. Only hope that lot of people will read this and understand the warning of doing the same mistake. At least it opened my eyes
Stefan