banc de binary

1wildhorse

Private, 1st Class
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434
hi guys new to this forum,but what interesting reading so far.
im having a bit of a problem with banc de binary,they enticed me to not only deposit $5,000 with them,but also to accept the bonus.this was done with my personal account manager basically assuring me id clear it in a month no problem after initially saying i didnt want it.
hell if id only read this forum earlier but eagle eye hindsight as its known.the guy also promised me personal guidance from one of the very best traders,and havent heard from him since.....actually on that part im kinda heaving a bit of a sigh of relief,who knows how much the guy would have fkked me over with on one of their sure fire trades......that just happened to lose.actually i opened up a few graphs all using the same platform(on different sites) and at certain times noticed that they dont always say the same thing.makes me think that those graphs can be manipulated in any way they like.
anyway after doing some research on your site(and substantial head bashing against a wall for being so stupid)
i came across this

http://www.cysec.gov.cy/Downloads/C...n to granting trading benefits to clients.pdf

now this is very interesting,so i opened up a chat window with one of their representatives and asked him if they were indeed regulated by cysec,and was told very definitely that they are.which means that by opposing their very regulator by not allowing withdrawals until the bonus amount has been played through,goes against their very regulator,and is tantamount to FRAUD.now how much power cysec actually has i have little idea at this stage,im just wondering whether a threat to report their erroneous behaviour regarding this to their licenser will actually help me to get my money back.i havent actually traded ANYTHING since they added the bonus,dont want them to say ive been using it or any other bull****....
the other thing is that cysec regulates EU countries,im wondering if those regulations would also apply to canada?
cos if not im faced with the very uphill task of trying to play through my deposit 20x.

if nothing else,my initial experience will also alert any other possible investors that all is not what it seems.
any help on this more than welcome.
 

1wildhorse

Private, 1st Class
Messages
434
ok so ive fired the first few shots across the bows.the trader has stated that i would indeed be free to withdraw my money,but that there will be a 30% fee for processing this request.so ive just contacted cysec directly to see what they have to say about this practice,and how they would regard such behaviour.
early days....
 

Pharaoh

Colonel
Messages
19,831
Cysec isn't very responsive to traders, but keep making sure to let them know all the details.

How did you deposit? Credit card?
 

1wildhorse

Private, 1st Class
Messages
434
yes it was with a credit card.
been doing a little more thinking about my situation.on the flip side,if i want to back out i will lose 30% of my investment capital plus any profits and the bonus whilst fulfilling the requirements of the bonus.(they charge up to 30% for making a withdrawal while a bonus is pending).however on the other side of the coin if the balance on my account starts to dwindle to the point where the bonus is more or less gone,i can still make that withdrawal because my money is still intact.this has been confirmed by my 'manager' over skype conversation,and ive recorded everything that has been said just in case.
so the reality is that finding myself in this position,i can trade my way out of it by fulfilling the bonus(and making sure not to accept any new ones),and in theory end up with some kind of profit at the end of it.they are also offering me training,which i will accept and see where that goes.if it is 1 lesson of garbage,followed by insider tips of bet a grand on such and such a price without any technique or apparent risk management,i will very quickly start to ignore these tips,i joined to learn something about the art of binary trading,because im sure that following the correct signals the market does indeed become relatively predictable,although again im not sure their graphs show the accurate current prices(and theres even a disclaimer on the site saying this),so i may well check out the reuters graphs to see how often there is a discrepancy between the price im told and the ACTUAL price.lets see if those warning bells go off.i must admit when the price rose by over 100 points in under a minute to lose 2 of 4 trades in what looked like a flawless trade,i was a little gobsmacked to say the least,however im realistic enough to know that currency pairs are an extremely volatile market,and this does fall within those parameters.at least now i dont necessarily have to trust that the information shown is completely accurate.and that will make a massive difference.lets face it they cant manipulate every single graph,they would soon be facing substantial fraudulent allegations.
so with all this in mind i will be treading extremely carefully over the forthcoming weeks.no more than 1% trades i think while im figuring out whats real and whats not in this wierd world!
 

1wildhorse

Private, 1st Class
Messages
434
They are regulated by Cysec Cyprus Securities and Exchange Commission. However, Cysec is soft and the complaint can take forever. Keep pushing them, they definitely won't wanna loose their license for such an amount.
and thats why i think they introduced the 30% charge for withdrawing,after cysec released this

http://www.cysec.gov.cy/Downloads/C...n to granting trading benefits to clients.pdf

basically they are saying of course you can have your money back just not all of it.....neatly circumventing the rules.im sure they gave themselves a huge pat on the back after coming up with that one.i mean someone with a $10k investment doesnt just want to give back $3k because he has just discovered he cant get out of having to turn over $400k in trades just to complete the bonus requirements.and right now i dont see any other way around it in the terms set out by cysec.they are playing it by the book albeit tilted in their favour obviously.i may be new to this game but believe me im smartening up VERY VERY quickly
 

SCAMBUSTERZ

Banned for uncivilized conduct
Messages
72
I would file a chargeback with your credit card provider and cite a bonus stipulation you were not made aware of and the fear through previous reports of similar people being scammed. I would also file it right away! These guys are very well known for screwing their clients anyway they can...
 

1wildhorse

Private, 1st Class
Messages
434
I would file a chargeback with your credit card provider and cite a bonus stipulation you were not made aware of and the fear through previous reports of similar people being scammed. I would also file it right away! These guys are very well known for screwing their clients anyway they can...
seems they are wise to that.i had to do an esignature to say i had read and understood t&c.....wont work in this case unf
 

1wildhorse

Private, 1st Class
Messages
434
i just asked my 'senior account manager' this question...still waiting for a reply


o I have a question for you‏


‎7‎:‎15‎ ‎AM
ive noticed a couple of times that the price on the graph is different from the price on the trade.i understand that you use Thompson reuters as the benchmark....in the odd case where trade closes and there is a discrepancy,which result is the correct one?
 

1wildhorse

Private, 1st Class
Messages
434
ooh got an answer that in turn begged another question....



Barry Miller- Senior Account Manager
‎8‎:‎33‎ ‎AM
The price on the trade is the correct one buddy‏







me
‎8‎:‎35‎ ‎AM
so even when the graph shows something different and so does the Thompson reuters graphs,the expiry price shown on the trade is correct?‏



and is that's so where exactly does that price come from?‏


‎8‎:‎36‎ ‎AM
if that's so‏
 
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