Problem banc de binary

[FXWarriory]

The 30% fee on deposit BS to be able to withdraw your deposit was not an enough red flag for you to figure banc de binary scam besides this broker history of bad actions, already have an FPA Guilty Verdict.
This opinion shows how much your intelligence is high!!!: ""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""
Well, in this case why not accept the 30% fee instead of wasting your time trading to end up loosing money which might end up more than the 30% of your account!!
CySec view about binary bonuses and free to withdraw deposit anytime.. is as if saying yes and no for the same point.
It's like "We prefer the broker not disallow clients from withdrawing but it's not bad if clients traded a certain volume before that"!!!

Binary Bonuses are for no good, you must trade up to 20 times your deposited amount to be able to withdraw it or even your deposit if any amount is still left!!
If was to accept topoption scam bonus, they were in a better position and was still till this minute obliged to continue trading despite all its scam and confess of its bad service!! But since refused it from the beginning and had set red lines for the account manager regarding any interference in my trading and deposit suggestions, was able to end up in my case against the scam topoption as a WINNER

You can find Good Forex Brokers that offer no demands on withdrawals if you get bonuses but this is yet to be found in Binaries!

What a named "analyst" or account manager tells you about his great trading abilities giving you free help means nothing!
Think of it, why he took a managerial position for some $2000 or less monthly salary?! if he's that great trader!, can have free time and earn that amount in a single trading click He'll follow you with trading instructions just to make sure you will loose all your deposit sooner than later! then you'll never hear his voince nor read any emails sent from him!

My advice to you: Trade nothing. According to your posts, you are not eligible to currently trade in the market. Even if you are, this scam broker not for trading freely and withdrawing profits.
Binary charts are for trash, can not depend on! You must first learn Forex then apply it to Binary only after finding a real regulated good broker!! to trade with.

File a complaint at CySec which may result in getting your full deposited money even if it takes little time.

 

[1wildhorse]

ok ill try to answer your points one by one.first of all i wont be trading on my capital,its the bonus ill be trading on.so i have $2500 to play with before it ever eats into my actual account.(i made sure to clarify this with the guy and saved the entire conversation in case i need to use it as any potential evidence.)
so why not do some trading knowing that the only way i can actually lost here is if i allow my account balance to go below $5,000 which i wont let happen.im trading binaries,not forex,so its a simple kind of trade,you either win or lose.as long as the stake is appopriate,its tha maximum you can lose in one trade.so i am basically free to trade with the bonus.

secondly the analyst didnt just give me some free help.he shared a TECHNIQUE that i will be able to apply on a daily basis.with only the 12 hour chart to work on there was only one viable trade available during that timeframe,and it behaved exactly as it should.as i said previously whether or not this technique continues to work day in day out week in week out i have no clue at this point.so from tomorrow morning i will be looking for these possible opportunities in order to test the validity of his technique.it does make a LOT of sense though once he explained to me how it works.i really cant go into details,its not my technique to share unfortunately,but only time will tell if its a valid long term one.
thirdly i am well aware from reading these pages that its a common practice for dodgy brokers to set up a 'client' or to use a better word 'fish' with a couple of good winning trades before telling them to 'invest' probably half their bank on a surefire thing,only to see it lose.i have set myself a maximum 3% per trade limit and it doesnt matter what the analyst tells me to do ill be sticking to it.actually it says something about that on the cysec circular as well about analysts doing that kind of thing and i quote

Furthermore, prompting clients to conduct trades with a view to achieving a specified
trading volume and then be entitled to withdraw their deposits are not accepted as fair and
good practice towards clients.

so the way im looking at it is that im pretty sure i have been shown a winning technique that i will be able to apply time and time again,and with good money/risk management any potential losses should be kept to a minimum.so in all reality what do i have to lose when ill be trading on their bonus money anyway?knowing i can get at least 70% of my initial deposit back.id be a bigger fool not to at least give it a try.im not the kind of guy thats going to get a few losses then try to chase the lot back on one trade,its just not my thing.

 

[1wildhorse]

oh i should point out that it was after the session i pulled up the 12 hour charts to see if there were any viable trades in that timeslot(the examples he gave me were from weeks ago) and as i say it behaved exactly how it should.

 

[ilearn2t]

Hello 1wildhorse

Banc de Binary is one of the original binary option brokers. They are owned by BDB Services Limited located at 12, Arch. Makariou III, Kristelina Tower, Flat 301, Mesa Yeitonia, CY-4000 Limassol, Cyprus. Their phone number is USA +1 212 710 5905.

Banc de Binary is authorized and regulated by the Cyprus Securities Exchange Commission (CySEC) under license no. 188/13. They received their license on January 7th, 2013. Banc De Binary is also registered with the FCA in the United Kingdom and with CONSOB in Italy.

Banc de Binary allows traders from most countries including Canada.

The data and quotes contained in this website are not provided by exchanges but rather by THOMPSON REUTERS. Prices may be different from exchange prices and may not be accurate to real time exchange trading prices.

Bonus Policy:

In the event where a Client accepts a bonus, undertakes the obligation of our trading benefits (but not exclusively) and requests to withdraw in contrary to the terms of the trading benefits, the case will be reviewed by a special committee that will decide, with accordance to each Client’s unique circumstances, whether to approve the Client’s request and under which conditions, which may include inter alia that Clients who received bonus and wish to withdraw are subject to a fee. The maximum percentage fee that a Client could incur is up to 30% of the balance (less the trading benefits). The exact percentage will be determined according to each Client’s circumstances which would be determined at the Company’s sole discretion which will take into consideration inter alia:
a. The required turnover which the Client is obligated to fulfill by the benefit terms and conditions.
b. The handling costs
c. The time frame of trading activity
d. The Company’s exposure towards third parties.

Good luck
Liz

 

[1wildhorse]

funnily enough i heard back from cysus legal dept just now(im in canada.its 7.36 am here).this is the reply i got

Thank you for your email below.



Please note that clients’ money is a very sensitive issue to the Commission, hence, apart from the existing relevant legislation the issuance of the circular mentioned.



The particular circular states that clients’ funds are ‘…free to withdraw at all times and whenever the client wishes….’. As such and as an initial response to your request, it is hard to find reason behind the practice of Banc De Binary Ltd to impose a 30% fee/handling fee on your funds. It seems as if this is not in line with the relevant legislation of the Commission. Having said that though, we strongly urge you to submit a complaint to the Commission via the link Cyprus Securities and Exchange Commission, in order to investigate all parameters of the issue. Please make sure that you include all supporting documents of your claim (i.e. screen shot of your account, the particular website that your registered with, transcript of the conversation with the broker mentioned specifying also his/her name, the amount of funds deposited, the amount of the fee requested in monetary value, the balance of your account, etc) in order to be effectively and thoroughly investigated.


so it seems clear that even though bdb may wish to impose a 30% fee that this still falls outside what they consider correct and right.and this email came from their LEGAL department.we will see how this plays out

 

[1wildhorse]

by the way the email i got (that right now is still undergoing moderation) was from their LEGAL department.....

 

[1wildhorse]

so hurry up with the moderation i want others to see this.apparently the 30% charge for premature withdrawals is also likely to be viewed in the same way as the no withdrawal until youve played through your 20x bonus requirement.very interesting!!!

 

[FXWarriory]

You are very mistaken if you think for an instance that any broker will give you $2500 and tell you play with it. The amount is from your own money. Better trade nothing like had advice you before.
Try with the CySec and here on FPA, at worst if the regulator gives a decision to trade the amount first then you have much time to do that later.

No Trader who has a successful technique!! shares it with anyone or even sells it.
Some do sell their techniques but for 1000s of $$$$ which in total clients will sum up a big amount.
So, the broker "analyst' is not some fool to share his techniques with every client passing by the broker doors!! Don't tell you you're a special client

Anyway, it seems you are very enthusiastic and convinced about the technique, seeing it as if some holy grain!!

And, about binary much easier than Forex, fixed loss...etc Come Back to Reality man, believe me, you need a lot to learn from the market that consist years of demo experience before investing your money.

 

[1wildhorse]

actually funny you should say that.the 'technique' shown to me is merely a way so predict when a spike will appear in the market.i think the art lies in learning how to trade that spike effectively.yes i have little knowledge of the forex/binary platforms,but i have VAST experience trading on BETFAIR,which is an entirely different ball game because it is totally punter/trader driven.it seems that the smaller traders that trade binaries on these sites which make up the 'trader choice' have little relevence in the actual market itself.so yes it is different.so no its not a 'holy grail' unless you trade it properly by minimising potential losses and maximising potential profits.to my newbie mind on this particular platform its shouting at me to place countertrades,first one when the spike first occurs,and the second one a countertrade once the spike has stabilised and trading the opposite creating a window where as long as the expiry price is between these parameters you effectively make approx 75% of your TOTAL investment,and by trading on a big spike you are effectively creating a large window ensuring a high probability of success.and of course if one of the trades fails then you have only lost 18% of the initial amount traded,because you have guaranteed that at least ONE trade will be successful.if that makes any sense.

 

[1wildhorse]

and ive formulated that idea with only 2 trades observed so far.....small sample size to really see what the effective long term viability of this particular strategy will bring but i think its the way to approach this