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Beware of Binary.com

Discussion in 'Scam Alerts' started by marioruss, Mar 26, 2016.

  1. marioruss

    marioruss Recruit

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    Hello All Beloved Trader Friends,

    While searching a site to put some warning and complaints about a Binary Broker, I found this amazing forum and realized Forex Peace Army are doing great job saving life and worth of valued traders all along. Also I checked any complaints has been submitted by anyone in FPA about this broker, I am really shocked seeing lot of complaints submitted by victims and hope that FPA will take necessary steps and action to warn this broker and advise traders worldwide who are doing binary options.

    Well, let me introduce myself before I write total story of my broker (binary.com). I am Mario Sergey from Russia and engaged in trading field for last 11 years with plus minus track record but were not very much successful in trading. That’s why, I was in quest of lot venues of trading to grow my capital. Most of the time I conducted trading in FX market following lot of strategies, tools, techniques, systems and EA etc. but success rate is very poor that cannot live on. To build my dream growing my capital for better futures, I traded Binary options for last one year using many binary brokers but could not achieve success at all due to their dishonesty. However, three months ago I discovered a Binary Broker (Binary.com) based in Malta and UK and found their web based platform which looks very fantastic as their execution and payout seems much better than others. Considering this facts, I opened Real Account and deposited 6000 USD with a hope to trade binary options successfully. Just few days I could do trading gaining some profit almost 1200 USD then the nightmare started as they were squeezing me many ways by freezing platform and manipulating prices and expiry etc. I try to contact them by all means but in vain. No response I got from them but continued my trading. Day by day I was loosing money and finally I also discovered some of their proprietary assets which are called Random Index where money can be earned easily. So, I tried to do some trading in Random Index following many strategies which they have facilitated in their platform like Rise/Fall, Higher/Lower, Touch/No Touch, Ins/Out but everywhere I found their price manipulation not to make profit but lost lot of money within few days. I became aggressive more and more to recover losses and started to find any strategies can help me to recover total losses. So, I searched many things in the Google, Facebook and Youtube and I am very fortunate that I fell into another bluffer who were selling some kind of software Tick Picker as they assured it’s accuracy 90% but using the software I lost almost 75% of my capital and later I received some offer from the vendor of that software who said that they have some exclusive strategies that generate profit 25% - 30% per day if I do trading in Random Index dedicatedly. I could not afford their strategies since price were quite high. After depletion of total fund in my account, I fully engaged myself in researching this broker thoroughly. Almost a month and half I spent doing research, investigation and evaluation and found many things what I have outlined below for all readers of this forum so that from today nobody should commit to do trading in Binary Options.

    Binary Options are nothing but kind of tricks alluring traders to earn money quickly giving lucrative payout feature. Nowadays Binary Options business are growing fast like mushroom and regulatory bodies and organization accord licenses to entrepreneurs who wish to establish their business though they are not familiar with myth of this business. Regulatory bodies and organization feel that it’s a business under regulatory framework which brings no harm but how dangerous this business bringing disaster in global economy and global financial arena. Binary options broker does not take loss but all the way they gain everything. I am explaining how they work. Similar to FX broker, Binary Options broker get price feed from Liquidity Provider or clearing organization from where they get Prime Service as Institutional to enjoy lowest spread for bulk business and large execution on monthly basis. Usually they get spread at 0.20 pips and feed the price in their platform which are normally 2-3 pips gap. If you compare their feed price with institutional spread or quotes from any reputed broker then you will find gap of 2-3 pips. While any trader place any order for options, immediately their system hedge the position compensating 1 pips what they get from Liquidity Provider or clearing organization. If trader win then they settle the payout from spread they keep until closing of orders. If trader loose any amount then that amount they utilize to cover their spread of 0.2 pips to pay to Liquidity Provider or clearing organization and the rest goes to their pocket. This is the real tricks behind this business. They do not pay any single dime from their pocket and they do not bear any losses which prove that they are gaining always profit 100%. Just they take advantage of spread to make payout to traders.

    It’s noteworthy to mention that this kind of activities in global financial arena slowing down global economy especially FX market and also destroying market liquidity where major traders are not participating in the market. A class of people doing unscrupulous things and majority are suffering. Why FX trader do not realize this norm and they do not fight for spread even although in FX Trading they fight with FX broker for lowest spread. Once any trader enters into Binary Options trading field, they become blind not thinking anything because main attraction of Binary Options are Higher Payout within shortest time. There are no financial term of Binary Option in dictionary but it’s either Digital or Barrier Options with standard length of maturity where mispricing occur always. In Binary Options all are fixed which means it’s pure gambling only to deplete trader’s pocket. How many traders win in this field ? I think none. Whoever furnish any claim or rating, it’s the tricks of Binary Broker who comes to admire by using different names.

    Nowadays anyone can do Binary business easily since Cyprus is safe heaven to establish the business where regulation are much liberal and there are technology provider (Spot Options, Leverate etc.) who set up business quickly including licenses as well as arrangement of Liquidity Providers. They have package deal and no previous experience required to start business and physical presence needed. Just Spend 200,000 USD paying to technology provider and within a week everything will be up and running because total business are web based and that’s why, office space are not necessary and can operate the business from any small apartment.

    I have a question whether regulatory body or authority understand about this business as they issue license easily to destroy global economy. Do they understand really what’s the impact of mal-practice of such thing in global financial arena? Do you they really possess any knowledge of global economy ? They do not treat any compliant fairly if any victim approach them. I think it’s also core secret of regulatory body or authority just to issue license and sit down quietly not listening anything. Just let the world go astray.

    Likely Binary.com also doing same thing manipulating everything not allowing anyone to make profit. Moreover, they have fantastic and lucrative asset class (Random Index) which I called as death trap where traders loose money very quickly because they strongly manipulate their index. To grow this business enormously, they employed some scam artist who upload some videos in Youtube proving to earn USD 100,000 within 15 minutes. Those scam artist are from Japan, Malaysia and Indonesia whose core business are Internet Marketing. Seeing those kind of videos, Binary Options Trader jump into the site and Scam Artist get paid for their job and besides they gain some residual from selling some strategies and software. This is real myth behind total scene of Binary.com

    The CEO of Binary.com (Jean-Yves Sireau) is a French guy who declare himself as Fund Manager running a hedge fund but failure to manage his fund. But he founded this Binary.com business as money making machine where he makes trader looser and beggar. He piles up extreme cash in his pocket but destroying the industry gradually. If I see this bloody bastard face to face, I would **** on his face with biggest slap that he will not forget whole life. He is computer geek and a programmer who has designed his platform so that he can manipulate everything. Not only he manipulate platform but he uses some script to control computer of traders as well as internet connection to slow down any order to dispatch to their server. If anyone admire about them with positive feedback and rating, I need that person with a hard proof of everything showing bank statement that he received 20,000 USD profit in his bank account. Binary.com appointed many people around the world to give positive feedback and rating and they are well paid off for their duties. If you want to know about CEO of Binary.com, you can read something about him through following link :

    http://www.financial-spread-betting.com/Bet-on-markets.html

    Calling them for any response is horrendous. In case anybody receive call, then you will find the call connected to a cellphone of a guy in the street, fish market or in a coffee shop with loud environment. Total business are run as one man show as CEO is everything. He is telephone operator, accountant, compliance officer, clerk, dispatcher and everything. Only 4 people work in this company including his wife. He does not need lot of people because he is computer geek and he designed everything web based which are user-friendly for him to operate from anywhere. In his interview it’s mentioned he was awarded by former Prime Minister of France and I wonder why Prime Minster did not realize that day this guy will **** the world one day for such award. He is real gambler and great ****er destroying whole world. If he has courage to defend me, I am ready to fly to confront anytime.

    To tell the truth, in my 11 years trading career I never achieved anything except one. To gain expertise and experience, I spent almost 20,000 USD attending many seminars, webinar, courses, purchasing many kind of systems, utilizing many FX advisory services, Signal services, Trade Recommendation and also world class Technical Analysis. All the way I lost money on and on. Within 11 years I just earn 1000 fresh pips attending a free webinar in 2014 sponsored by Merrill Lynch and Sucden of UK which was organized by HSBC of Hong Kong where 500 traders joined and attended. The webinar was conducted by CEO of a Global Investment Advisory firm located in Hong Kong where he shows a very simple system with some techniques and strategy how to predict market and win pips easily without missing of market movement. In my opinion the CEO of that firm are Best of The Best in Technical Analysis and Accurate Prediction of Market. In that weeklong webinar I had a chance to gain 1000 pips within 5 days. That was only success in my trading career. It was very nice webinar I have ever enjoyed and we requested the firm to provide some service for trader’s community. The CEO promised to launch a program and system to save the global traders community but it’s almost 2 years there are no news from them.

    In a nutshell, I urge to all trader friends not to jump to Binary options trading especially not to invest their hard earned money in those Binary broker and no question to invest in Binary.com. Also wish that this message should be spread by everyone around the world to save astute traders and their hard earned capital.

    I wish all the best always and prosperous trading.
     
  2. Pharaoh

    Pharaoh Colonel

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    cocicka likes this.
  3. cocicka

    cocicka Recruit

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    I am also a victim of misconduct Binary.com. Completely agree with the above story. Binary.com Random(Volatility) Indexes cunning trap for the player. I just turned to Winchargeback guys to get my money back from the Binary.com. I will post results.
     
    #3 cocicka, May 24, 2016
    Lasted edited by : May 24, 2016
  4. cocicka

    cocicka Recruit

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    And we are easy
    binary.com clients do not fully understand the tricks of this company: you will only lose your money! Read carefully on their website:
    Binary (C.R.) S.A.
    Binary (C.R.) S.A., registered in Costa Rica.

    Clients from the rest of the world (excluding certain countries such as the USA, Japan, Costa Rica, Hong Kong) will have their account opened with Binary (C.R.) S.A.

    Binary.com is not available in Costa Rica and is not regulated or supervised by any regulatory body in the Costa Rican financial system.
     
  5. roller888

    roller888 Corporal

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    Lol very insightful thanks and good research you did
     
  6. nitya

    nitya Private

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    I am presently using a demo account at binary.com Randomly 3 days ago they asked if they could MONITOR the account.
    And suddenly, the prices were freezing and the charts were moving...just yesterday. Many of my friends who were also using this agreed it happened to them. Immediately the problem was said to be resolved...And today I did not notice any such issue.
    This is concerning..
    But this article he posted above...I dont understand it at all. Can you explain what is the problem?
     
  7. nitya

    nitya Private

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    To the OP.. you wrote...
    Not only he manipulate platform but he uses some script to control computer of traders as well as internet connection to slow down any order to dispatch to their server.

    Can you provide some proof as to this claim please?
     
  8. Jean-Yves Sireau

    Jean-Yves Sireau Binary.com Representative

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    Hello @marioruss, this is Jean-Yves Sireau; your post has been brought to my attention. I am sorry to hear that you are dissatisfied with binary.com's service, and would wish to look into your complaint personally. Could you please identify yourself by providing your full name and binary.com loginID or email, and explain precisely what is the complaint and the reference number of any affected transactions. Thank you in advance; I can assure you it will be looked into once you have provided the information.
     
    binary-com, socforexpips and karenyap like this.
  9. cocicka

    cocicka Recruit

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    Good day Jean-Yves Sireau, Who is regulated and controlled binary.com in Costa Rica?
     
  10. Samantha Ruby

    Samantha Ruby Corporal

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    Let me understand this so they create their own trading instrument called a "random or volatility index" of which they make and control the prices is that right? How are they not in prison? Anybody who would trade such a thing is asking to be scammed. The broker makes money when you lose so if they don't have to even rely on prices from the forex market but can make their own prices. They can't lose and how are they allowed to do this? I think if a firm does that then they should be put in jail. Creating an index that you control the prices and stealing peoples money with it Jean-Yves Sireau your parents should be ashamed of you.
     
    socforexpips and cocicka like this.

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