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

[NetoB]

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

Hi NetoB. I gather you are a fellow aussie? Would like to make contact and share experiences and ideas regarding BDB. I am a victim of theirs as well. I have lost all my superannuation, my savings, plus approx 70k of borrowed funds. I will more than likely be a bankrupt before Xmas. My Skype is russ0660 or email eddie0660@gmail.com. Any other aussie here feel free to contact me. Or anybody for that matter, if you have some ideas. Thanks

Hi Eddie66, sorry for the delayed response, how are you hanging? I'm catching up with my thread. I just got a successful refund of some of the money I gave to BDB. I have explained the process I followed in a previous post. We can certainly share ideas, I'll contact you via email. Cheers mate!

 

[NetoB]

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

Hi, I'm in Sydney, I see that you're in Melbourne right?

 

[Coldfear]

Hi, I'm in Sydney, I see that you're in Melbourne right?

Yes I'm from Melbourne

 

[richpearl]

Hi. I got refund from BBC last week BUT I send my personal details to BBC. I now worry to be used in near future. How come?

 

[Coldfear]

Hi. I got refund from BBC last week BUT I send my personal details to BBC. I now worry to be used in near future. How come?

Did you get all your money back? Don't worry too much about them having your details .

 

[Taliana]

Hi. I got refund from BBC last week BUT I send my personal details to BBC. I now worry to be used in near future. How come?

Who is BBC? Why are you fear?

 

[Pharaoh]

I'll take a wild guess richpearl meant BDB - Banc de Binary.

The CFTC warned that some binary companies may use personally identifying information for identity fraud.

 

[Eddie66]

Hi Eddie66, sorry for the delayed response, how are you hanging? I'm catching up with my thread. I just got a successful refund of some of the money I gave to BDB. I have explained the process I followed in a previous post. We can certainly share ideas, I'll contact you via email. Cheers mate!

Thanks for saying hi mate. I'm currently in the process of a charge back with my bank and they are quietly confident at this stage. Fingers and toes crossed. After this process I will go after them for my lost super funds. Cheers and thanks again

 

[Isamh]

Thanks for saying hi mate. I'm currently in the process of a charge back with my bank and they are quietly confident at this stage. Fingers and toes crossed. After this process I will go after them for my lost super funds. Cheers and thanks again

Hi, see this link for the alert on iosco against bdb
You need to come to a confirmed reply if bdb is allowed to carry services in a third country without receiving the certificates from the authorities. This will help with the bank chargeback

 

[Marcelo Rosa]

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.

I’m very thrilled to say that I have recovered part of the money that I got cheated by Banc de Binary and I’d like to write in favour of Phoenix Advisors Ltd (http://phoenixadvisorsgroup.com/). At first I tried to do a chargeback with the bank directly, I tried to do it myself. The result was negative; the bank rejected my request and would not open the chargebacks for me.

Luckily, I had opened a thread and a case in this FPA website and Pheonix Advisors contacted me offering their services. I thought that if I didn’t need to pay anything up front, then it would be worth a try. Anyways, I didn’t have any other options. So I settled an agreement with them and sent them all the information about my case. They guided me throughout all the process and were able to assist me in a way that the bank was willing to open the chargebacks. They helped me open a dispute against the Bank and contact the Financial Ombudsman to regulate my dispute against the Bank. That was the only way they opened the chargebacks. After 7 months of a long process going back and forth with the Bank, the Financial Ombudsman and Phoenix Advisors (emails, letters, calls, etc.), Mastercard ruled in my favour and I was able to get a refund for AU$36,855 (US$27,035)

I wouldn’t have been able to do it without them, they have the knowledge and the expertise and know exactly what to do and say to the Banks. I’d also like to thank Anthony and the personnel at Phoenix Advisors for helping me recover those funds, you really came back to me in a timely manner responding to every single question I had and every email I sent you. It really gives me space to breathe as I got deeply into debt to be able to put money into BDB.

Unfortunately, some of the money I sent to BDB was through Bank Wire Transfer and that is impossible to recover, at least that’s what Phoenix Advisors told me.

Hi NetoB, I'm very happy to hear that you recovery part of your capital, I don't trade binary options, I'm not here to judge you, but when they kept calling to add more and more capital and making a lot of promises, you should have smelled that something was not right from the beginning, after the $1K deposit, I would have stopped right there.

I'm facing this right now among my colleagues where I live in Dubai, the human being in general is extremely greedy, you try to show something that's regulated, but generates a good 5% ROI monthly and people prefers to go for an unregulated company that's paying 20% a month, so everybody is doing, they're mentality is the following: "As long I get my money back, I don't care anymore, the rest is pure profit" So that's how ponzi scams are infested, because they know how to work on greediness.

I hope you learned your lesson and are able to help people to avoid falling into the same mistakes over and over again, we need to speak up.

Regards,

Marcelo