Banc De Binary won't return my money

[Levines]

As a newbie I was targeted by Banc De Binary marketing and was promised to have personal assistance from an account manager and a huge level of support for learning to trade binary options. I was encouraged to place a $1500 stake which my account manager offered to double along with promises of making plenty of profits with his help. But first I was asked to sign a bonus allocation agreement which I did not fully understand. On the basis of my account managers encouragement I signed the agreement only to discover that I had to trade a minimum of 20 trades moving $60,000 of volume trades before I could withdraw any funds from my account. I realised within days after trading on a demo that this would be an impossible task. I pleaded for a refund. First Banc de Binary said that as I had not used the account I would be able to get my original $1500 returned. But only after they verified my account. I had to send in doucments proving my identity and they took two weeks to conclude that I was who I was. After that they then refused to return the funds. I was told that my fund mangager Jim Anderson was the only one who could make the decision to return my original stake. I wrote 10 and 15 times pleading with him and the accounts department to return my money. I have to this day three months later still not used the live account.

In desperation I started trying to learn how to trade binary options successfully but I began to realise it is a no win situation. I have been pleading for months with them to return my money - I have not used the live account and they are refusing to do this. If I even attempt to use the live account I will lose all of my money - because there is no way I can successfully trade binary options to $60,000 volume. Can someone help me get the money back?

 

[Pharaoh]

Did you fund by bank wire or credit card? If so, immediately contact your issuing bank and ask to speak to the fraud department.

Banc de Binary claims to be inside the USA, so contact IC3.gov, SEC.gov, and www.CFTC.gov. If you are outside the USA, contact your local police and ask how to file internet based financial fraud charges in your country.

Send an email to BDBinary with a link to this thread. Tell them you'll be keeping it up to date.

 

[Adam Mc]

Hi Levines,

Try to verify which method you use to make the deposit, i use VIP Binary, an these companies usually use the same method to deposit you're Money back, in other words a reverse transaction. Something similar happen to me in VIP Binary, i was expecting for them to deposit on my bank account, but since i deposit to VIP Binary with my credit card they actually credited back to my card, when i did the withdrawal. So from my experience with VIP Binary i will recommend you to verify everything on you're side, just to be sure they're the ones with the problem.

Hopes this help, and that you get your money back.

 

[BigT1]

Hello Levines,
Go to this page and read the other threads related to Banc de Binary:
https://www.forexpeacearmy.com/forex-forum/search.php?searchid=238581
.
You will find alot of good info there generated by us in resaponse to your predecessors in agony.
.
Anthony Ingrassia, CTA
NFA ID#: 0278164
.
Update: the search link has expired, instead just go to the Scam Alerts Folder and use the Search Forum feature an search for "banc de".

 

[Mickov Zoran]

As a newbie I was targeted by marketing and was promised to have personal assistance from an account manager and a huge level of support for learning to trade binary options. I was encouraged to place a $1500 stake which my account manager offered to double along with promises of making plenty of profits with his help. But first I was asked to sign a bonus allocation agreement which I did not fully understand. On the basis of my account managers encouragement I signed the agreement only to discover that I had to trade a minimum of 20 trades moving $60,000 of volume trades before I could withdraw any funds from my account. I realised within days after trading on a demo that this would be an impossible task. I pleaded for a refund. First said that as I had not used the account I would be able to get my original $1500 returned. But only after they verified my account. I had to send in doucments proving my identity and they took two weeks to conclude that I was who I was. After that they then refused to return the funds. I was told that my fund mangager Jim Anderson was the only one who could make the decision to return my original stake. I wrote 10 and 15 times pleading with him and the accounts department to return my money. I have to this day three months later still not used the live account.

In desperation I started trying to learn how to trade binary options successfully but I began to realise it is a no win situation. I have been pleading for months with them to return my money - I have not used the live account and they are refusing to do this. If I even attempt to use the live account I will lose all of my money - because there is no way I can successfully trade binary options to $60,000 volume. Can someone help me get the money back?

 

[iduda]

I'm in the same situation as you are. The same whole package (Jim Anderson promising and not delivering help, getting to sign the BONUS (tying your funds forever in the account managed by these crooks)). I have Jim Anderson contact information if you're interested: JIM ANDERSON 701 W 179TH STREET APT.26 10033-6027 TEL: 212 568-4824 . Try to contact the fraud department of your credit card used to fund the account. They will be more than happy to help you.
iduda

 

[Levines]

After a long protracted action I eventually had my money returned. It took ages.

 

[rmFX]

Thanks Levines for letting me know of the positive outcome, this give me hope that I will get my money back as well

I am in a similar situation as you were... deposited money and accepted the bonus after the heavy sales pitch.

Despite allot of pressure to trade the real account - even to the extent that I had to request four times to get access to a demo account! - I have been trading demo only. Thank goodness!

It seems like it is very difficult to make money on the demo - I am getting "option suspended" messages more and more regularly now when trying to trade around news events. Doesn't look like there is any point continuing with this "broker"

 

[Pharaoh]

rmFX,

Go ahead and start a new thread just for your issue. Then give all the details.

 

[Gladiator76]

After a long protracted action I eventually had my money returned. It took ages.

Unbelievable! More than a year to get your money back! And they claim to be a respected broker