I was cheated with BancDeBinary. I have opened account last december (2014) with the assurance of making good profits and they will guide with signals. Initially deposited 5k and lost. He asked to deposit another 5k and lost that too.
I repeatedly asked to provide risk free trades as agreed or to provide few signals, atleast weekly or daily.
But no one responded for 2 months. They will just keep dragging and will inform us that they will take us to recovery department.
Initially lost 20k. I asked account manager to help me recover, but he asked me to deposit more so that I will get access to VIP department and I can recover quickly. Initially said will get 125% bonus if deposits more than 50k. After deposited ~67k, he didn't gave bonus and asked me to deposit 10k more to get all bonus.
As I became desperate to recover my losses, I deposited. So my total deposits were ~77k. Then added bonus. Then I asked to provide signals. For first 2 days, gave one signal per day. This is against initial assurance given that they will provide daily few signals and I can recover all my losses.
Then he asked me to deposit another 10k to get daily 5 signals. I didn't deposited. He keep asking me for 2 days and I didn't deposited any more.
He made out that I hit the limit. My account Manager came to know that I enquired about withdrawal process.
As part of conspiracy, gave good signals coupled with bad signals and took my balance from 125k to 10k in an 1hr and then to 3k with all wrong signals.
He gave ~15 signals, all short intervals (10mins or 15mins) with ~10 to 14k each. 90% losses in one trade. When I resisted to open, he called and asked me to open and asked to trust him as they are experts. Lost all the money. When asked, no one responds. Again asking us to deposit more.
I have all the skype conversation with everyone from start and proof giving signals at each interval.
This is a very big white collar scam that won't allow you to withdraw your money at any cost. If you keep depositing, you keep loosing.
Skype id's: Eric Baker, David Hope, Danny Goldman, Chris Cooper.
Danny Goldman is head for all these and behind the master plan. He keep stressing me to deposit 10k, when I already deposited 77k. Chris emptied my account.
Lost all my money and they will en cash if you are more desperate to get your losses. I pleaded multiple times to just help me to recover losses and I don't want any profits, but they just emptied my account.
Hi Naveen1020,
I was suckered in by a scum bag by the name of Daniel Lloyd and until i take my last breath I will fight to get my money back and am requesting a chargeback on all the money I have invested. I have sent a complaint to the Advertising Standards Authority (ASA), Cysec and the Financial Conduct Authority. This sickens me to the core of what this bastard did not me. They claim that the Wall Street Journal quoted them and that they are registered with the Financial Conduct Authority and it is all a load of crap. I have kept all my emails as evidence and the way they get you with the Bonus Agreement which forces you to keep trading to bring the volume up in order to withdraw 100% of your funds, which is designed to never happen. The quote I found about the claim on the Wall Street Journal is shown below.
Banc De Binary has stated they are quoted in the Wall Street Journal which states ‘'
a website that allows people to bet on the price of gold’ however the full quote states the following which is shown below:
'WASHINGTON—Regulators sued Banc de Binary, ‘a website that allows people to bet on the price of gold’, oil or stocks, continuing a crackdown on offshore trading platforms that operate online'. However the full content of the advert is not disclosed, which does not show the prospective customer the full context of the statement which does not show the transparency to enable to the prospective customer to make an informed decision and therefore this is false advertising which is based on deception.
See the content below which I have put together so far.....
The Consumer Protection from Unfair Trading Regulations
1. Faking credentials Claiming to be a signatory to a code of conduct when the trader is not.
I was informed by a Daniel Lloyd who identified himself as a (Head Account Manager) that Banc De Binary is regulated by the Financial Conduct Authority in the UK. However, I have researched the following information from the website:
https://www.fca.org.uk/consumers/binary-options-uk and identified the content below
‘The Financial Conduct Authority (FCA) does not regulate binary options and the consultations we mentioned in the
article in May 2015 have not yet resulted in changes to UK law to bring binary options under the FCA’s remit. Firms dealing in binary options with remote gambling equipment located in Great Britain need to be regulated by the Gambling Commission (note the Gambling Commission’s remit is Great Britain rather than the UK)’.
2. Your endorsement is not real Claiming that a code of conduct has an endorsement from a public or other body which it does not have.
Banc De Binary has stated they are quoted in the Wall Street Journal which states ‘'a website that allows people to bet on the price of gold’ however the full quote states the following which is shown below:
'WASHINGTON—Regulators sued Banc de Binary, ‘a website that allows people to bet on the price of gold’, oil or stocks, continuing a crackdown on offshore trading platforms that operate online'. However the full content of the advert is not disclosed, which does not show the prospective customer the full context of the statement which does not show the transparency to enable to the prospective customer to make an informed decision and therefore this is false advertising which is based on deception.
3. No win situations Creating the false impression that the consumer has already won, will win, or will on doing a particular act win, a prize or other equivalent benefit, when in fact either: – There is no prize or other equivalent benefit, Or – Taking any action in relation to claiming the prize or other equivalent benefit is subject to the consumer paying money or incurring a cost.
I have identified that Banc De Binary offer a system where you make an initial investment and at that point you then become a ‘victim’, without knowing, a victim who has to invest more of their own money to meet a trading volume to withdrawal 100% of their own money invested The customer then signs a bonus agreement which is not clearly explained to the customer which is in affect giving their own money away without knowing. The bonus agreement is not fully explained to the customer at the point of signing and once signed the customer can only withdraw 50% of their funds and are forced to invest and trade in an attempt to withdraw 100% of their funds which is designed to never be met. This forces the customer to invest in an attempt to make money that the company now has and then again to invest to go to another level to premium membership to chase the trade volume, again to chase the premium trades, to chase the volume and yet again to the platinum trades because of the fear steps in of losing all the funds invested, which is continually emphasised to the customer throughout the process by the account manager, which in my view forces the customer to continually invest until they have nothing left. The system is designed to force the customer to invest and trade until it is too late to realise what is happening.
