Dear all:
I joined Banc de Binary in late April at the suggestion of a friend. He was working with a broker who seemed to know a lot about Binary Options, was a "senior account manager" with a lot of experience, and who always sent out really good signals that were mostly winners. I saw all of this with my very own eyes during the summer (January and February for me) so in late April I took the leap and I joined the site. I messed around with the demo account for a few weeks and J.W. (the broker I'm talking about) kept promising training and one on one sessions with the demo account so I would learn how he operates. The "lessons", if you could call them that, were pretty much quick explanations of what my friend had already mentioned and the website never really worked (the rates would turn into zeros, the clock function was never available, the site would crash when trying to take an option). JW assured me those things didn't happen on the normal account and that I should send him 10k so he could provide with full assistance and signals and put me in one of his groups on skype. I did that and I got a bonus. This is when the surprises started. I didn't know from my friend that you had to trade a certain amount because he never told me; his English isn't too great and he hadn't even read the contract, someone from bdb explained it to him on the phone in Spanish (I didn't know any of this before sending the money, btw). Anyway, I sent the money and then I got the bonus contract which I had been told was set in place so I didn’t withdraw all of the funds (bonus included) which I thought it was reasonable.... until I read how much money I had to trade in volume. I panicked. I asked the guy to explain to me how was I to trade US$400,000 before being able to access my money again. JW, being the salesman that he is, convinced me it was totally doable and that I just had to follow his lead. Long story short, his lead made me lose all of the bonus in a week (after the TERRIBLE NFP on June 7th when he CLAIMS the data was conflicting and he made everyone is his group lose a chunk of money) and now I'm US$3,000 down of my own money.
I've pretty much stopped listening to this man and I'm not putting down the numbers he suggests (for the last NFP he wanted me to put in US$1,000 per option!! when I have US$7,000 left! what kind of risk-management is that?). I even learned how to read candlestick charts on my own, follow events, do some fundamental analysis... all of the things I stupidly thought I didn't have to care about because I had a "senior account manager" on my side. I now even think his mission is to lose everyone's money. I spoke to another member of his group and she has US$2,000 left (out of the 10k plus the bonus she also received). My friend has less than 1K left. I haven't spoken to other people in the group (we're discouraged from doing so... funny huh?), but I wouldn't be too surprised if they're in a similar situation.
The thing is... Do I have a legitimate claim here? I signed the bonus, I knew I needed to make 400k before I could pull out money... but now I know that's an impossible goal. Not only I don’t have enough money to invest in a way that will allow me to reach the 400K in a reasonable period, but the site keeps working horribly! Even though I’m not using the demo account anymore. In another NFP, I took a down option and it went up instead of down. When I try to use the clock option, so I can delay the time in that transaction, the clock rarely works. And when it does, they charge you 15 bucks to use it. Is that a standard practice? There are plenty of times when the rates turn to zeros. When I’ve been observing the Asian market, the commodities show up sometimes hours after the markets have gone up and I’m not able to make any trades on the movements I’m studying because the option is not open, even though those markets are already up and moving.
So, can I even hope of ever getting my money out? I've been reading stuff here, but I don't know how to start or how to complain or to who (I haven’t addressed this with the bdb people as I know they will pull up the contract I signed… even though I don’t even have any of their super bonus left. It’s just my money now). I'm from Chile, and I don't know if any authority in my country will even get what's happened to me (or care for that matter) and since I signed that stupid contract I feel pretty much in the crapper.
Sorry for the long rant, everyone. Any advice will be appreciated.
I joined Banc de Binary in late April at the suggestion of a friend. He was working with a broker who seemed to know a lot about Binary Options, was a "senior account manager" with a lot of experience, and who always sent out really good signals that were mostly winners. I saw all of this with my very own eyes during the summer (January and February for me) so in late April I took the leap and I joined the site. I messed around with the demo account for a few weeks and J.W. (the broker I'm talking about) kept promising training and one on one sessions with the demo account so I would learn how he operates. The "lessons", if you could call them that, were pretty much quick explanations of what my friend had already mentioned and the website never really worked (the rates would turn into zeros, the clock function was never available, the site would crash when trying to take an option). JW assured me those things didn't happen on the normal account and that I should send him 10k so he could provide with full assistance and signals and put me in one of his groups on skype. I did that and I got a bonus. This is when the surprises started. I didn't know from my friend that you had to trade a certain amount because he never told me; his English isn't too great and he hadn't even read the contract, someone from bdb explained it to him on the phone in Spanish (I didn't know any of this before sending the money, btw). Anyway, I sent the money and then I got the bonus contract which I had been told was set in place so I didn’t withdraw all of the funds (bonus included) which I thought it was reasonable.... until I read how much money I had to trade in volume. I panicked. I asked the guy to explain to me how was I to trade US$400,000 before being able to access my money again. JW, being the salesman that he is, convinced me it was totally doable and that I just had to follow his lead. Long story short, his lead made me lose all of the bonus in a week (after the TERRIBLE NFP on June 7th when he CLAIMS the data was conflicting and he made everyone is his group lose a chunk of money) and now I'm US$3,000 down of my own money.
I've pretty much stopped listening to this man and I'm not putting down the numbers he suggests (for the last NFP he wanted me to put in US$1,000 per option!! when I have US$7,000 left! what kind of risk-management is that?). I even learned how to read candlestick charts on my own, follow events, do some fundamental analysis... all of the things I stupidly thought I didn't have to care about because I had a "senior account manager" on my side. I now even think his mission is to lose everyone's money. I spoke to another member of his group and she has US$2,000 left (out of the 10k plus the bonus she also received). My friend has less than 1K left. I haven't spoken to other people in the group (we're discouraged from doing so... funny huh?), but I wouldn't be too surprised if they're in a similar situation.
The thing is... Do I have a legitimate claim here? I signed the bonus, I knew I needed to make 400k before I could pull out money... but now I know that's an impossible goal. Not only I don’t have enough money to invest in a way that will allow me to reach the 400K in a reasonable period, but the site keeps working horribly! Even though I’m not using the demo account anymore. In another NFP, I took a down option and it went up instead of down. When I try to use the clock option, so I can delay the time in that transaction, the clock rarely works. And when it does, they charge you 15 bucks to use it. Is that a standard practice? There are plenty of times when the rates turn to zeros. When I’ve been observing the Asian market, the commodities show up sometimes hours after the markets have gone up and I’m not able to make any trades on the movements I’m studying because the option is not open, even though those markets are already up and moving.
So, can I even hope of ever getting my money out? I've been reading stuff here, but I don't know how to start or how to complain or to who (I haven’t addressed this with the bdb people as I know they will pull up the contract I signed… even though I don’t even have any of their super bonus left. It’s just my money now). I'm from Chile, and I don't know if any authority in my country will even get what's happened to me (or care for that matter) and since I signed that stupid contract I feel pretty much in the crapper.
Sorry for the long rant, everyone. Any advice will be appreciated.
