Problem banc de binary

[1wildhorse]

and please read my earlier post when it has finished being moderated(cmon hurry up guys) about the cysec legal teams response to my question about whether or not the 30% charge is lawful.i think youll find it VERY interesting!!!

 

[1wildhorse]

AND i have recorded the skype chat with the manager who clearly says that playing with the bonus amount WILL NOT AFFECT MY REAL BALANCE.however after my initial suspicions have been alleviated and i honestly think these guys have been good to me i will at least give them the chance to remove that particular clause from their t&c which seems to be in direct contravention of the cysec directives,before considering what to do with this information.....

 

[1wildhorse]

lets face it im sure they dont want to lose their license,and if not me then its only going to be a matter of time before some other bright spark challenges this.(i dont know if youve ever heard of them,in canada they are a pretty major company,but i successfully sued them regarding their policies that were at best wonky at worst FRAUDULENT,i settled out of court but ive since noticed they have changed their POLICIES to be in accordance with the LAWS of canada.SO IM NOT AFRAID TO CHALLENGE BULL**** WHEN I SEE IT)theres no need to name the particular company(i agreed not to make this public as the terms of the settlement).

 

[1wildhorse]

dam its gone another page.hang on let me redo the response from the cysec legal team.fingers crossed it doesnt go to moderation this time!

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.

 

[1wildhorse]

seems pretty dam clear to me....

 

[1wildhorse]

funnily enough when i took this canadian company to court,i did substantial investigation into the law and its implications,especially the part about FRAUD.from memory one of the stipulations regarding this was called something(i forget) nondisclosure,and basically meant that any attempt to basically lie to the customer about what his/her rights actually were,and to impose bull**** policies which were in direct contravention of your rights under the law were in fact fraudulent.im presuming they have similar laws in cyprus,but i will certainly give them a chance to remove these clauses from their t&c.lets face it im like a rottwieler with a bone when i think someone is messing with me,i always get to the TRUTH....
actually i was amazed with this canadian company.i called the anti-fraud centre and they told me that because the actual amount involved was less than like $100,000 then they were unable to investigate because it didnt fall under the bracket of corporate fraud.(but when you add up all the customers ripped off for $300-$1000 at a time daily across the country it would have added up to MILLIONS)
and the RCMP were also powerless to investigate because it didnt fall within their official mandate either.very neat loophole by their not so stupid lawyers.until this wee guy came out of the woods and shook them up so hard that they ended up changing their policies anyway....MORAL VICTORY as well as them paying for my shopping trips over the course of the court case!!!

 

[1wildhorse]

ah i just looked it up.its called UNFAIR NONDISCLOSURE.

Unfair nondisclosure is where a duty to disclose arises from

b) conduct by the accused creating a false impression in the victim's mind

 

[1wildhorse]

and so the unfair non disclosure in this case would be on 2 counts
1)they say you cant withdraw until you have met the 20x rollover on your deposit+bonus
and when you work your way past that one the second one
2)actually of course you can have your money but you have to pay up to a 30% handling charge to do this if you havent met the terms of your playthrough.

(by the way does anyone here still think im an idiot?)
and how exactly do i get my hands on the thompson reuters graphs in real time please?

 

[Amin EL-HAKIM]

Dear 1wildhorse

Due to your random and many many posts, I'm personally having trouble following up your issue. First, your complaint was regarding their charges on your withdrawal, next you said you're gonna trade your account and agree to, later, you're back to the 30% thing. I'm personally confused. Please explain you issue in one post and ask specific question and we will try to provide answers. Multiple posts won't help you, on the contrary, anyone will have trouble identifying the problem. Don't worry, we will answer. But you have to forgive the late responses as we are in different countries/timezones and we don't get paid to do this.

 

[1wildhorse]

actually im not asking a question any more.ive already found the answers i needed.sorry if ive been rambling a bit but ive been sharing information as and when it occurred.the problem in the first place was that i was thinking banc de binary were a scam site after reading through the pages on here.luckily i found the cysec directive within these pages which clearly showed i could indeed have access to a withdrawal if needed.
then it was explained to me that i could certainly do this but that there would be an up to a 30% fee attached to such a request.
at that point i contacted the legal department for CYSEC and voiced my concerns with them.

their reply i have already posted but ill do it again.

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 at the moment im happy to pursue things for myself.i will be speaking directly to the representatives of banc de binary so that we may resolve the issue without any further problems.obviously if they are less than satisfactory in their reply then ill pursue matters through CYSEC,but i dont think they would risk their license by choosing this course of action.

and hopefully they will look at this and remove the 'up to 30% charge on withdrawals' clause as i am getting the impression from CYSEC that it is not acceptable behaviour from one of their regulated clients.

however the crux of all this is to enlighten the many visitors to this site about the TRUTH behind the terms and conditions from ANY SUCH COMPANY registered with CYSEC so that they be well informed if the same thing happens to them.