Can't get withdrawal from Banc De Options

vickisb

Private, 1st Class
Messages
27
I would like to share with you my recent experience with a binary options account managed by BancdeOptions/Fast-Signals in Australia.

Before investing, I searched online for reviews, but found nothing really positive or negative, so I asked for references. My contact, Sarah Jones, who later became my account manager, provided Skype IDs for two supposed investors, both with complementary reviews, and also had her manager (whose name I can’t recall) call me by phone. I felt reasonably reassured and decided late last October to risk a $5k investment in a managed account with them.

With the managed account I was promised 4 managed trades a day in my account, where I could expect approximately 75-80% accuracy with 75% win payouts, which Sarah said would easily be able to get me to my goal of $1k/day income after some account growth. I was told that the commission would be 20% on all profit. In addition, I would be set up in a Skype group to receive 3 signals each at the start of both the UK and US trading sessions, which I could trade independently.

From the outset, I found that I could not duplicate the consistent 3-0 results they posted for the Skype signals. The entry prices posted were not anywhere near any prices I found on any of the brokers I dealt with. And even the prices at expiry, while closer, did not always seem to reflect market prices. They seemed to reflect losses only when showing a win would be totally indefensible.

The trades in my account, on the other hand, posted consistent believable win percentages – a little over 80%. Even after a Christmas break of about 2 weeks, by the end of January, my balance reflected over $15k.

When the account grew large enough to leave a $10k balance after a withdrawal after commissions, I inquired about making a withdrawal, but was told for the first time that until the account had a balance of 10 times my initial deposit, or $50k, I would have to pay the 20% commission up front instead of from account profits, unless I brought them new clients. Obviously I was unhappy, but decided I didn’t have much choice but to let the account grow. I argued that it seemed they would want to take their fees as early as possible, even if from my account, especially after the account had grown to a reasonable size, but was told that was simply their policy.

So I stayed in touch with Sarah, with only occasional contact, for instance when my trades dropped to 3 per day instead of the 4 promised, to question why I was no longer getting trades on Friday, and to request an increase in trade size, which had only ever progressed to $500, less than 2% of my account balance as the balance grew. I was told that trade size is based on initial investment, which makes no sense.

But Sarah stopped communicating altogether, and after a month or so, I contacted Live Chat and was told she was on maternity leave (despite the fact that I was still seeing her Skype ID active and associated with the Skype signals). I was assigned a new manager, Cindy Holland, who told me they could bend the rules for me only if I brought them new clients. She quickly lost interest when I told her I would not recommend a service to others that had not yet been fully proven.




Another thing Cindy said unsettled me further. She said that even after I reached the $50k account balance, the 20% commission would have to be paid up front out-of-pocket rather than from the account, which contradicted what Sarah had told me.

I contacted Live Chat to get another contact, and was told that commissions can come out of the account rather than up front after six months, which neither account manager ever communicated, and I was given the Skype ID and email address of Ray Johnson, VP of Finance of BancdeOptions, from whom I requested a clarification of policies, an increase in trade size and a change in account manager, none of which I ever received.

So after the growth in my account stalled out at around $35k for over 3 weeks, I realized it was 6 months from the date I opened the account. So on May 1 I requested a withdrawal of all my funds less the 20% commission. After almost daily emails and Skype conversations since, I still do not have any confirmation that my withdrawal is in process, and in fact my account is still being traded and has lost value since the date of the withdrawal request.

This organization is at worst a fraudulent Ponzi scheme, but even at best a nightmare to deal with, with inconsistent results and the worst communication from account managers and support I have ever experienced.

I am doubtful that I will ever get my initial $5k deposit back, much less the $30k that also includes my supposed profits after commissions.

I highly recommend you AVOID this operation.

If you would like more information or documentation of all the information I have presented, please feel free to contact me. I have emails, Live Chat transcripts and Skype conversations available to share.
 

FxMaster

Lt. Colonel
Messages
10,094
Three steps that you must follow

1st - Invite them to join this thread via email (Send email to every possible address).

2nd - Go to their website and invite them to here via Live Chat.

BDB Services LTD Victoria Corporate Suite 108,
Premier Building,
Mahe, Seychelles.

info@bbinary.com

CUSTOMER RELATIONS

Tracey Ludlam
Manager of Customer Relations
+44-2070992116
tracey.l@bbinary.com

Phone Book

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3rd- Go to their Social media pages and share your STORY and Link of this Thread as a comment on latest post.

Social pages are

https://www.facebook.com/pages/Banc-De-Binary/312826402128569

https://twitter.com/BancDeBinary_EN

https://www.youtube.com/BancDeBinary

https://vimeo.com/bancdebinary

https://www.linkedin.com/company/banc-de-binary

https://plus.google.com/105560143297252336127


Also share your review at FPA Review page here BBinary.com (Banc De Binary) Review - Forex Peace Army



PS: We want your votes at open cases, check this section FPA Open Cases and votes for Guilty or Not Guilty.
 

tokyojerry

Recruit
Messages
6
I have just recently been Berndt badly by these bastards over there. Something to the tune of like US$10,000. I know how they function and work. If anybody is interested in the full story I will be happy to relate it to you, and what you can do.

For starters, I am contacting my credit card companies to request a charge back to my credit cards against them. Additionally, you should file a formal complaint to the Cypress securities and exchange commission. If you made your deposits to them by credit card, you have a fairly good chance to recover your money.
 

tokyojerry

Recruit
Messages
6
Oh, and these trades signals that they offer you are completely misleading to your disadvantage and their advantage. At Banc De Binary When the client loses their firm wins and takes control of your losses, ultimately their traders are the winners. So it makes sense for them to give you fraudulent and false signals that would lead you into losing because when you lose your lost money becomes their funds to replay the trades.

Check out Wikipedia also for further information. Just do a search for Banc De Binary. And, their offices both in London and in the US at New York are only virtual offices. They have no physical presence nor do they have any staff there.
 

Fergal

Recruit
Messages
3
Hi Vicki
My name is Fergal (from Ireland) and I too unfortunately have fallen for the same scam that is Bancdeoptions....
I opened an account mid November 2014 with $3,000. My account manager Holly Miller who I only dealt with over Skype chat couldn't have been nicer or more available at the time. My account traded up to $30,000 around July 2015 and I was told (in an earlier chat with Holly) that I could make a withdrawal for the smallest fee of 7% provided I my account was traded for at least 7 months. Holly has gone AWOL since 21st May!!!!
No Contact and no explanation......
I submitted a withdrawal request on the 15th July having wired over a $500 (7% fee) on the same day. I suspected this was a scam so I only risked $500....
I have heard nothing or more importantly received no money whatsoever since 15th July. When I repeatedly contacted live chat they told me to send confirmation of payment to withdrawal@bancdeoptions.com. So I took a screenshot of the payment and emailed it to them.
As of last today its 29 business days since I submitted the request.
I too doubt that I will ever see any of my $3000 + $500 much less any of my so called profits.
Incidentally I too noticed that since I entered a request my account has started to nosedive!! Its now at $20,000.
I suspect that they will bull**** me for enough time to pass till my account is traded down to zero!! A depressing and uncomfortable reality I have to face up to!!!
I would love to hear your latest news or if you know of any other way of approaching this problem????
Many thanks and good luck
F



I would like to share with you my recent experience with a binary options account managed by BancdeOptions/Fast-Signals in Australia.

Before investing, I searched online for reviews, but found nothing really positive or negative, so I asked for references. My contact, Sarah Jones, who later became my account manager, provided Skype IDs for two supposed investors, both with complementary reviews, and also had her manager (whose name I can’t recall) call me by phone. I felt reasonably reassured and decided late last October to risk a $5k investment in a managed account with them.

With the managed account I was promised 4 managed trades a day in my account, where I could expect approximately 75-80% accuracy with 75% win payouts, which Sarah said would easily be able to get me to my goal of $1k/day income after some account growth. I was told that the commission would be 20% on all profit. In addition, I would be set up in a Skype group to receive 3 signals each at the start of both the UK and US trading sessions, which I could trade independently.

From the outset, I found that I could not duplicate the consistent 3-0 results they posted for the Skype signals. The entry prices posted were not anywhere near any prices I found on any of the brokers I dealt with. And even the prices at expiry, while closer, did not always seem to reflect market prices. They seemed to reflect losses only when showing a win would be totally indefensible.

The trades in my account, on the other hand, posted consistent believable win percentages – a little over 80%. Even after a Christmas break of about 2 weeks, by the end of January, my balance reflected over $15k.

When the account grew large enough to leave a $10k balance after a withdrawal after commissions, I inquired about making a withdrawal, but was told for the first time that until the account had a balance of 10 times my initial deposit, or $50k, I would have to pay the 20% commission up front instead of from account profits, unless I brought them new clients. Obviously I was unhappy, but decided I didn’t have much choice but to let the account grow. I argued that it seemed they would want to take their fees as early as possible, even if from my account, especially after the account had grown to a reasonable size, but was told that was simply their policy.

So I stayed in touch with Sarah, with only occasional contact, for instance when my trades dropped to 3 per day instead of the 4 promised, to question why I was no longer getting trades on Friday, and to request an increase in trade size, which had only ever progressed to $500, less than 2% of my account balance as the balance grew. I was told that trade size is based on initial investment, which makes no sense.

But Sarah stopped communicating altogether, and after a month or so, I contacted Live Chat and was told she was on maternity leave (despite the fact that I was still seeing her Skype ID active and associated with the Skype signals). I was assigned a new manager, Cindy Holland, who told me they could bend the rules for me only if I brought them new clients. She quickly lost interest when I told her I would not recommend a service to others that had not yet been fully proven.




Another thing Cindy said unsettled me further. She said that even after I reached the $50k account balance, the 20% commission would have to be paid up front out-of-pocket rather than from the account, which contradicted what Sarah had told me.

I contacted Live Chat to get another contact, and was told that commissions can come out of the account rather than up front after six months, which neither account manager ever communicated, and I was given the Skype ID and email address of Ray Johnson, VP of Finance of BancdeOptions, from whom I requested a clarification of policies, an increase in trade size and a change in account manager, none of which I ever received.

So after the growth in my account stalled out at around $35k for over 3 weeks, I realized it was 6 months from the date I opened the account. So on May 1 I requested a withdrawal of all my funds less the 20% commission. After almost daily emails and Skype conversations since, I still do not have any confirmation that my withdrawal is in process, and in fact my account is still being traded and has lost value since the date of the withdrawal request.

This organization is at worst a fraudulent Ponzi scheme, but even at best a nightmare to deal with, with inconsistent results and the worst communication from account managers and support I have ever experienced.

I am doubtful that I will ever get my initial $5k deposit back, much less the $30k that also includes my supposed profits after commissions.

I highly recommend you AVOID this operation.

If you would like more information or documentation of all the information I have presented, please feel free to contact me. I have emails, Live Chat transcripts and Skype conversations available to share.
 
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