GUILTY Case# 2015-062 | naveen1020 vs bancdebinary.com

[ruseneca]

I will leave it here, where your opinion is that BO's is gambling. For me it is not.

OK, Naveen, I respect your opinion. If you see binary options as a source of additional income, then so be it.

Also for all FYI, here is the extract I found from Binary Option Fraud Scam Alert By CFTC | Apex Investing Institute. Going forward, I will be away from all BO's.

Refusing to credit customer accounts,
Denying fund reimbursement,
Identity theft, and
Manipulation of software to generate losing trades (Could be my case)
Misleading return payouts (My case)
Bonus structures and other practices that are meant to entice more funds from clients and make it more difficult to withdrawal them
Not Being Registered with the CFTC/SEC and offering contracts to US Citizens

You have the full right to know whether your case belongs to the above-mentioned potential scams but if they have tried to cheat you, your account wouldn't have reached 300-400% profit.
Anyway, you haven't uploaded any other proves in favour of your side of the story. It is stated by the company that you have gambled your money alone which you didn't deny, you confirmed that options have been opened by yourself. These facts lead to only one decision when it comes to regulations - the company is not guilty. This will be stated by any regulatory body all over the world. Of course, this doesn't mean that you cannot initiate a lawsuit against them.
As this is very interesting case, please keep us updated for any development.

 

[naveen1020]

You have the full right to know whether your case belongs to the above-mentioned potential scams but if they have tried to cheat you, your account wouldn't have reached 300-400% profit.

Where my account reached 300 - 400% profit. Stop giving false numbers without reading the case.

Anyway, you haven't uploaded any other proves in favour of your side of the story. It is stated by the company that you have gambled your money alone which you didn't deny, you confirmed that options have been opened by yourself. These facts lead to only one decision when it comes to regulations - the company is not guilty. This will be stated by any regulatory body all over the world.

This is the default word "you gambled your money" when brokers empty our accounts (this way then can ask to deposit more and more money). Read the case properly before message.
You are giving outcome as if you are a regulator or broker. Stop it, if you want to discourage clients to take action against their fraud.

Let's leave the topic.

 

[ruseneca]

Where my account reached 300 - 400% profit. Stop giving false numbers without reading the case.

You clearly pointed that your initial deposit was $27,000 and it had reached about $127,000 until someone had started providing to you false signals. I asked you why you hadn't requested a withdrawal by the time your balance had reached $127,000 or something like that ( this is somewhere in the text files, stated by you! )

This is the default word "you gambled your money" when brokers empty our accounts (this way then can ask to deposit more and more money). Read the case properly before message.

You are giving outcome as if you are a regulator or broker. Stop it, if you want to discourage clients to take action against their fraud.

Let's leave the topic.

Naveen, I read and understood the case! Or at least, I halfly understood what you are trying to say.
Firstly, you deposit money to a broker ( it doesn't matter where ). Secondly, you lost your initial deposit. Thirdly, instead of staying back from the markets, you BEG FOR A BONUS and expect to recover your loss. Broker agrees to provide you with a bonus and a signal per day. Then your greed take place and you start buying options, thus loosing some of your balance until broker decides to exclude you from a so-called VIP group because of loosing part of your deposit. Here, broker has the full right to cancel the bonus because they have promised X% over your deposit. By trading, you firstly loose your deposit. An example: You make a deposit worth $1,000, broker put another $1,000 in your account. If you loose even $500, it will be a legit reason for cancelling the bonus. Thus, you remain with $500 in your balance.
I am a licensed portfolio manager, Naveen, and part of my state exam was "Compliance", where you should know everything for regulations, state law, international law etc. That's why I try to help you understand that the broker cannot be guilty for your loss because it is your decision what to trade, how much volume of each currency to choose. Noone is perfect!!! I have seen people who make 1 successful deal out of 10 and at the end of day, their balance is higher from the initial deposit. You have failed to manage YOUR capital, you have failed to manage the risks and relied to someone who you don't know.

Now, we cannot be sure that even text files are correct because when someone loses his/her funds, the first thing to do is to accuse the broker for the loss and spam all over the internet that the broker scammed him, cheated or lied to him for something. It is just a reaction!

If you can prove us that brokers themselves have opened an option without your personal agreement and lost your money, then I could change my vote by writing in the thread. Since you have done everything by yourself, I cannot see any point of taking your side of the story!

Now, you can tell us how the broker cheated you.

1. By asking you to make a deposit?! Well, 100% of brokers do that. If you lose, they will call you to make another deposit and continue trading.

2. By providing signals?! 95% of brokers are registered in the so-called "signals" websites or "deals copy" websites ( Zulu Trade, FXCopy ) or they offer such services from their websites ( PAMM or MAMM services ). Brokers always state that if you decide to trade with signals or copy deals, they are not responsible for any loss you may face. It is your decision who you will trust. You can either trade by yourself or leave someone else trade for you. In either ways, the responsibility for any loss is yours!

3. By manipulating quotes?! According to your text files, you open a daily deals where it is impossible to manipulate the quotes!

4. By manipulating the software? It is possible. However, you didn't provide us with evidence that the software has been manipulated so that you can lose. For example, the result of your option might be "LOST" because the option price has been manipulated several seconds before expiration and by the time you have opened your option, there were no such market price.

5. By refusing to process your deposit?! You haven't requested such, have you?!

6. By restricting withdrawals with a special clause in broker's terms where it is stated that a withdrawal must be requested once you wager certain volume and you haven't been informed about this special clause.

6. By intentionally process transactions without your personal agreement? From text files, it is clear that you even ask another person to check your credit cards by processing a transaction worth $10,000 or smth like that.

Pick one of the points above and prove your side of the story.

 

[naveen1020]

You clearly pointed that your initial deposit was $27,000 and it had reached about $127,000 until someone had started providing to you false signals. I asked you why you hadn't requested a withdrawal by the time your balance had reached $127,000 or something like that ( this is somewhere in the text files, stated by you! )


Naveen, I read and understood the case! Or at least, I halfly understood what you are trying to say.
Firstly, you deposit money to a broker ( it doesn't matter where ). Secondly, you lost your initial deposit. Thirdly, instead of staying back from the markets, you BEG FOR A BONUS and expect to recover your loss. Broker agrees to provide you with a bonus and a signal per day. Then your greed take place and you start buying options, thus loosing some of your balance until broker decides to exclude you from a so-called VIP group because of loosing part of your deposit. Here, broker has the full right to cancel the bonus because they have promised X% over your deposit. By trading, you firstly loose your deposit. An example: You make a deposit worth $1,000, broker put another $1,000 in your account. If you loose even $500, it will be a legit reason for cancelling the bonus. Thus, you remain with $500 in your balance.
I am a licensed portfolio manager, Naveen, and part of my state exam was "Compliance", where you should know everything for regulations, state law, international law etc. That's why I try to help you understand that the broker cannot be guilty for your loss because it is your decision what to trade, how much volume of each currency to choose. Noone is perfect!!! I have seen people who make 1 successful deal out of 10 and at the end of day, their balance is higher from the initial deposit. You have failed to manage YOUR capital, you have failed to manage the risks and relied to someone who you don't know.

Now, we cannot be sure that even text files are correct because when someone loses his/her funds, the first thing to do is to accuse the broker for the loss and spam all over the internet that the broker scammed him, cheated or lied to him for something. It is just a reaction!

If you can prove us that brokers themselves have opened an option without your personal agreement and lost your money, then I could change my vote by writing in the thread. Since you have done everything by yourself, I cannot see any point of taking your side of the story!

Now, you can tell us how the broker cheated you.

1. By asking you to make a deposit?! Well, 100% of brokers do that. If you lose, they will call you to make another deposit and continue trading.

2. By providing signals?! 95% of brokers are registered in the so-called "signals" websites or "deals copy" websites ( Zulu Trade, FXCopy ) or they offer such services from their websites ( PAMM or MAMM services ). Brokers always state that if you decide to trade with signals or copy deals, they are not responsible for any loss you may face. It is your decision who you will trust. You can either trade by yourself or leave someone else trade for you. In either ways, the responsibility for any loss is yours!

3. By manipulating quotes?! According to your text files, you open a daily deals where it is impossible to manipulate the quotes!

4. By manipulating the software? It is possible. However, you didn't provide us with evidence that the software has been manipulated so that you can lose. For example, the result of your option might be "LOST" because the option price has been manipulated several seconds before expiration and by the time you have opened your option, there were no such market price.

5. By refusing to process your deposit?! You haven't requested such, have you?!

6. By restricting withdrawals with a special clause in broker's terms where it is stated that a withdrawal must be requested once you wager certain volume and you haven't been informed about this special clause.

6. By intentionally process transactions without your personal agreement? From text files, it is clear that you even ask another person to check your credit cards by processing a transaction worth $10,000 or smth like that.

Pick one of the points above and prove your side of the story.

You quote "I BEG FOR A BONUS". Hmm.. Initially he promised soo much that I will get 125% bonus on greater than 50k (and recover in a wk), but when deposited again pressurised to deposit more to get a bonus and still you support this criminalized activity. Finally got 100% bonus after deposit more (rather than 125%), but anyway got emptied with his signals. They changed tone once deposit money.

Yes, I begged for bonus and signals (which supposed to be my right things, where I should demand) and you support this. You should seriously need to look out for psychologist and change your behaviour not to cheat others. Its pointless discussing.

It is so clear that by opening only his signals, 125k went to 10k and then to 3k (attached trade snapshots and skype conversation). If he is serious, he should give analysed or confirmed signals at least after first mistake, but repeatedly gave loosing signals. This is clear intentional. Why are you not talking about this rather than say, I made a loss, which is ~5k. You look out for some invalid reasons to cover your mistakes.

You repeat again and again same false things, as you are a broker.

Don't complicate but keep it simple.
1. Why promised that VIP accounts will get special attention (5 signals per day) and can recover in a wk, but changed tone after deposit. If they say, I don't have signals fine, but they pressurized to deposit again to get 5 signals per day (which I didn't and even said one per day is fine. I compromised and not they). But what nonsense is this. They are criminals who changed tone after deposit heavily.
2. As said, I relied on someone who is incapable. I relied on bancdebinary promises and as they are incapable, they should stop assurances or close their firm(as they are incapable).
3. I didn't trade with any signal copy.
4. What nonsense is CEO group and non CEO group. Remove me from CEO group since I didn't deposit another 10k.This is just gimmicks to wash their hands. Even I doubt skype names could be false. They didn't attend calls after empty accounts. Still you support this highly irresponsible activity.
5. The below mail, shows how irresponsible he is.
=========================
On Fri, Apr 17, 2015 at 1:10 PM, Danny Goldman <dannyg@bbinary.com> wrote:
Naveen,

we are a multimillion dollar corporation, your bad review threats don’t scare me.

Have a good day!
=========================

6. They gave assurance and promises to make profit ===> Didn't kept their promise and talked about recovery department ==> Didn't kept their promise and talked about VIP department ===> Didn't kept their promise and talked about CEO and non CEO group ==> finally emptied as I didn't deposited any more.


Let's see the outcome of cysec complaint.

 

[naveen1020]

@ruseneca

I replied for everyone use and not for your vote.

To add, I have invited my broker to reply to this thread but he denied. I will withdraw this case, if broker proves my uploaded content is created. It is exact conversation I uploaded (I knew I will get such claims).

 

[ruseneca]

You quote "I BEG FOR A BONUS". Hmm.. Initially he promised soo much that I will get 125% bonus on greater than 50k (and recover in a wk), but when deposited again pressurised to deposit more to get a bonus and still you support this criminalized activity. Finally got 100% bonus after deposit more (rather than 125%), but anyway got emptied with his signals. They changed tone once deposit money.

Just to be clear, Naveen! Every bonus is provided on top of a single deposit. So, if you had made a deposit of $50,000, you would have received the promised bonus. Instead, you had made a deposit worth $10,000 and the broker had done everything he could ever do for anyone to provide you with such a high bonus so that you can reach the break-even point faster. But it is not clear what is the wagering for all these bonuses which you had received. You are talking about a week to recover, have you ever thought about bonus wagering and how you could EVER withdraw from an account with such high bonuses?! It is impossible to do that for a week, especially for newbies.
Regading the tone...since you had been begging them every second by loosing them their time, this is what I expect to happen. What a man will go to the casino and ask managers to provide him with $10,000 so that he can bet inside their casino and if he wins, he just wins What about the casino?! They lose double
One advise from my experience, never apply for bonuses whereever you trade, disregarding of your account type. This is an advice that almost 90% of FPA members will give you!

Yes, I begged for bonus and signals (which supposed to be my right things, where I should demand) and you support this. You should seriously need to look out for psychologist and change your behaviour not to cheat others. Its pointless discussing.

I cannot be sure whether you had the right to even apply for a bonus. You haven't uploaded any information regarding deposits' breakdown and active offers. It doesn't matter what offers are sent to you several days ago. Today, they might not be active anymore.

It is so clear that by opening only his signals, 125k went to 10k and then to 3k (attached trade snapshots and skype conversation). If he is serious, he should give analysed or confirmed signals at least after first mistake, but repeatedly gave loosing signals. This is clear intentional. Why are you not talking about this rather than say, I made a loss, which is ~5k. You look out for some invalid reasons to cover your mistakes.

There's no such thing as "confirmed signal". There are traders who make 1 successful deal of out 10 and at the end of the day, their balance is in plus. This is called money management and it is your duty, not broker's! If they tell you to buy an option with 100% of your account, will you do that?!I guess you will think twice before doing so!!!! Am I right?!

Don't complicate but keep it simple.

OK, Naveen, I will.
This is how brokers work. You make a deposit worth $100 and you don't receive a bonus. You make a deposit a deposit worth $10,000 and you receive 10% bonus. You make a deposit worth $50,000 and you receive 30% bonus.
I am so sorry to say that but according to the text files uploaded by you, you have failed to fullful deposit terms for offers that you had received. Broker ( at least he claims to be a broker ) had provided you with an offer for $10,000 and a bonus which had been transferred to your account. So, where is the cheating?! Kept it simple...

5. The below mail, shows how irresponsible he is.
=========================
On Fri, Apr 17, 2015 at 1:10 PM, Danny Goldman <dannyg@bbinary.com> wrote:
Naveen,

we are a multimillion dollar corporation, your bad review threats don’t scare me.

Have a good day!
=========================

Well, they "pressured" you to make a deposit and lie your bank to raise your limits several times. If you believe that a guilty case is a big obstacle for them to convince another investor in making a deposit with them, your place is not in the financial markets! I have heard lots of excuses for guilty cases published here, I have even asked for cooperation from their side so that cases could be resolved. Till that moment, noone has ever tried to communicate with the topic starter(s).This is a valid reason I tell all brokers calling me day and night with the request to make a deposit...It is not professional, ethical and obviously, this is not the way a business should be done.

6. They gave assurance and promises to make profit ===> Didn't kept their promise and talked about recovery department ==> Didn't kept their promise and talked about VIP department ===> Didn't kept their promise and talked about CEO and non CEO group ==> finally emptied as I didn't deposited any more.

And here is your biggest mistake, mate! Assurance for guaranteed profits give only regulated banks, not binary options brokers or casinos Even if you buy bonds, there's no such thing as 100% guarantee for profit from these bonds.

Let's see the outcome of cysec complaint.

I do hope that they will at least impose a financial sanction. What I could tell you is not to expect ANY funds restored to your credit cards. Regulators cannot restore your funds unless the broker is in process of insolvency!!!! But even in such moment, you would not have the chance to receive your funds because they are lost!

 

[naveen1020]

@ruseneca

Here is the proof, of the bonus they promised and once deposited changed the tone. Even mentioned the same in calls about VIP access. vip.bancdebinary.com (40/55 ~137%). After requesting multiple times (firstly why should I request or beg for the things which they promised), he added ~100% bonus and that too after 10k more deposit.

I know even for this you will come up with some or the other reason.

===========
Jack Stanfield <jackst@bbinary.com> wrote:
I can arrange you for 40k another 55k bonus. And we can get started.

=========

Anyway, the main point is intentional bankrupt.

Its they who said, they can recover in a wk if its a VIP account. As I told I am new, and they just played with me. Loosing is different and making me intentionally bankrupt is different. Also our mindsets are different. For you its a casino and for me its not.
This is so clear and you still come out with reasons. CEO group and non CEO group. What is this.

They gave assurance and promises to make profit ===> Didn't kept their promise and talked about recovery department ==> Didn't kept their promise and talked about VIP department ===> Didn't kept their promise and talked about CEO and non CEO group ==> finally emptied as I didn't deposited any more.

since you had been begging them every second by loosing them their time, this is what I expect to happen. What a man will go to the casino and ask managers to provide him with $10,000 so that he can bet inside their casino and if he wins, he just wins

I am loosing their time.hmm.. The things are different before and after deposit..

Anyway, Ideally good BO's should make money on the % of payout and not that they will gain if we loose and viceversa. It is linked to Spot option. If some one loss or gain, it should be with market. Same as the case with normal forex (where brokers make money on spread).

So your whole analogy is wrong.

Anyway after reading few threads I understood, how they can make profits by intentionally make us loose our trades. Our money goes straight into their pockets and we are not loosing to market.

==========

Here is a simple analogy.

This firm offered with all sorts of stories and ask to enter a road. After enter, they will rob and kill us. As per you its my mistake to enter that road.

I know, its my mistake to trust them and enter that road. But here I am highlighting my experience and would like to warn everyone not to enter that road and if possible to regulators to close that road as they rob.

===========

I am not expecting to get my money back, but will highlight to extent possible, so that others might think twice before enter this road (and not to get trapped of these VIP access..blah blah.. ).

Or with such threads atleast these brokers will be more responsible.

I won't open any more account with any BO's.

 

[ruseneca]

After requesting multiple times (firstly why should I request or beg for the things which they promised), he added ~100% bonus and that too after 10k more deposit

This is something you shouldn't do. At least, they had kept their promise and you had received a bonus on top of your deposit. They cannot provide you with a bonus on the sum of your deposit amounts but per single deposit. If it is $40,000, then they could credit you with $55,000. It is essential to understand that they had not actually cheated you but provdied you with the reasonable amount as per your single deposit. Moreover, you should ask for the bonus to be credited. If they put it after you deposit, they would be definitely fined by CySec because with the bonus comes the so-called "wagering" which most brokers set to 40 times. It means that your total option value must be 40xbonus amount. If you have received $55,000, then you must have bought options for at $2,200,000. This, divided by 5,000 ( which is your most traded volume per single option ), means that you must trade the minimum of 440 options before you can even think of money withdrawal.
This was the reason I asked you why you didn't withdraw when you turned your account several times and whether you have previously applied for any bonuses.

Anyway, the main point is intentional bankrupt.

Its they who said, they can recover in a wk if its a VIP account. As I told I am new, and they just played with me. Loosing is different and making me intentionally bankrupt is different. Also our mindsets are different. For you its a casino and for me its not.
This is so clear and you still come out with reasons. CEO group and non CEO group. What is this.

They gave assurance and promises to make profit ===> Didn't kept their promise and talked about recovery department ==> Didn't kept their promise and talked about VIP department ===> Didn't kept their promise and talked about CEO and non CEO group ==> finally emptied as I didn't deposited any more.

That's why Terms and Conditions are for! They regulate doing the whole business. If you have read them, you would definitely refuse any bonuses. Instead, you kept laughing us that someone had cheated you with offers when you alone begged for such bonuses and complained that someone had lost your funds. It is impossible to wager such a high bonus and "brokers" know that perfectly. They know when you would fail and if you keep profiting, it is their duty to make you loss. That's why I wrote that binary options are like casinos. Such instruments are offered by bookmakers and BO brokers. None of them we can even call "brokers" as there is no market for binary options. Chicago Board of Trades offer trading with options which is different from what we call "binary options".

Anyway, Ideally good BO's should make money on the % of payout and not that they will gain if we loose and viceversa. It is linked to Spot option. If some one loss or gain, it should be with market. Same as the case with normal forex (where brokers make money on spread).

As I wrote above, there's no market for binary options. How does BO brokers and bookmarkets keep profiting?! From your loss, just like market makers do! The higher trader success rate is, the lower profit for the broker. Since only 5% of all traders are winning, guess how much profit do BO platforms generate. Once again, I compared BO platforms with casinos just because it would be easier for you to understand how they operate and why your profit is their loss, and that it is in their best interest to make you lose.
In the FX market, there are 2 types of brokerage: Market Maker and ECN/STP. Those, who make profit from the spread OR commission, are ECN/STP who route your orders directly to banks. Of course, they can operate under both types by keeping losing trades for them and make profit from your loss. The most common brokerage is a mix between Market Maker and ECN AND they really can hedge the risk by routing your order to the bank or an exchange board. Binary Options platforms are like casinos, they don't have a "market" where to sell your loss or profit, they make money based on the chance. The more bets you make, the higher the chance for loss is. The more options you buy, the higher the chance for loss is.

It is simple, right?!

I know, its my mistake to trust them and enter that road. But here I am highlighting my experience and would like to warn everyone not to enter that road and if possible to regulators to close that road as they rob.

Then, why you accussed the company of cheating you, when this is way BO platforms do their business?!
Now, when you know all these facts, can you imagine what would happen if you involved your "rich" friends and they lose, too?! It means end of your friendship and possible lawsuit for you.
It was the reason to act like this...

I won't open any more account with any BO's.

We all really hope that you even won't dare to think of opening such accounts.

 

[naveen1020]

This is something you shouldn't do. At least, they had kept their promise and you had received a bonus on top of your deposit. They cannot provide you with a bonus on the sum of your deposit amounts but per single deposit. If it is $40,000, then they could credit you with $55,000. It is essential to understand that they had not actually cheated you but provdied you with the reasonable amount as per your single deposit. Moreover, you should ask for the bonus to be credited. If they put it after you deposit, they would be definitely fined by CySec because with the bonus comes the so-called "wagering" which most brokers set to 40 times. It means that your total option value must be 40xbonus amount. If you have received $55,000, then you must have bought options for at $2,200,000. This, divided by 5,000 ( which is your most traded volume per single option ), means that you must trade the minimum of 440 options before you can even think of money withdrawal.".

They kept the promise after I request multiple times and that too after forcing me to deposit another 10k. why? Atleast that case, I will have hope to get money in future but now no way (as account is emptied).

Before deposit, they will beg and after deposit we have to beg. hmmm...

Anyway you are completely bringing in different topic. Here the cheating done with intentional wrong signals. If he denies me by rejecting my withdrawals as per company policy, I am fine with that.

As I wrote above, there's no market for binary options. How does BO brokers and bookmarkets keep profiting?! From your loss, just like market makers do! The higher trader success rate is, the lower profit for the broker. Since only 5% of all traders are winning, guess how much profit do BO platforms generate. Once again, I compared BO platforms with casinos just because it would be easier for you to understand how they operate and why your profit is their loss, and that it is in their best interest to make you lose.

As per the conversation I had with them, they said they will make money on the % of payout. They make more money, when we open more trades (as it is on commissions and this is the reason tied for bonus). Anyway, leave this here.

=============
How do Binary Option Brokers Make Money? | Best Binary Broker
The main source of income for brokers is obviously through commission on the trades. Investors are generally recommended on investments and trading strategies by the brokers who want to have a good amount of commission for the firm.
=============

Can you provide some back up links or proof for your statement that their operating model (esp bancdebinary) is "our profit is their loss or viceversa". This will make my job even more easy, as what they promise and how they work is clearly contradicting.

Binary Options platforms are like casinos, they don't have a "market" where to sell your loss or profit, they make money based on the chance. The more bets you make, the higher the chance for loss is. The more options you buy, the higher the chance for loss is.

Refer to All Brands | SpotOption.

Then, why you accussed the company of cheating you, when this is way BO platforms do their business?!

Anyway its going endless, even I gave clear proof of what they promised and what they did. Simple. They said, you will make profits by depositing and just follow their advise and did I ?

We all really hope that you even won't dare to think of opening such accounts.

Ofcourse, I won't but I will fight to extent possible and spread the word, against such fraud BO's cheating clients with wrong promises.

 

[ruseneca]

They kept the promise after I request multiple times and that too after forcing me to deposit another 10k. why? Atleast that case, I will have hope to get money in future but now no way (as account is emptied).

Before deposit, they will beg and after deposit we have to beg. hmmm...

Anyway you are completely bringing in different topic. Here the cheating done with intentional wrong signals. If he denies me by rejecting my withdrawals as per company policy, I am fine with that.

Intention or not, your trading style is far away from profitable. You didn't mention whether there were credited bonuses to your account by the time your balance had reached $100,000. If there were such bonuses, this explains why you had kept opening options. If you were trading with your balance only, then it is a must to request a withdrawal that consist of your initial deposit + % of your current profit. The rest you leave for trading. This is to secure your investment. Any expectations for substantial profits are not serious if you don't know how to manage your risk and save your investment.

As per the conversation I had with them, they said they will make money on the % of payout. They make more money, when we open more trades (as it is on commissions and this is the reason tied for bonus). Anyway, leave this here.

LOL They even had told you the truth. Yes, profitable traders could withdraw no more than 20% from the total deposits, th rest 80% are for the company. The more options you open, the higher is the chance to lose. Everything is "chance". One will make profit, another 20 will lose.

Can you provide some back up links or proof for your statement that their operating model (esp bancdebinary) is "our profit is their loss or viceversa". This will make my job even more easy, as what they promise and how they work is clearly contradicting.

This is what you should ask SpotOption. They will just laugh and won't answer your emails. This is just like asking a casino operator whether they really make profit from clients' deposits and losses. Don't you see that SpotOption even offer a slot machine for casinos, based on their binary options software? How you see a casino operator, buying and selling financial instruments?! And what is more, do casino operators have the proper license to buy and sell such instruments.
Binary options industry is a simple game of predictions, a very lucrative industry, I must say. With initial investment of $50,000 you can open your own BO brokerage. This is the minimum investment of Tradologic, a competitor of SpotOption. How I know this? I visit special trade fairs where both SpotOption and Tradologic have their stands.
Naveen, you just paid BDB's expenses for the platform they use.


Binary options might be easy to understand but this is where newbies loss their savings because of lack of knowledge, false expectations, impatience and really bad sense of greed. YES, everyone could make money from BO trading as well as he/she is disciplined and devoted to the trading by making analyzes on a daily bases and take reasonable risk. Within year or two, capital could be reached a profit of 200%. But for week or two, you can grow your capital if the chance is in your favour because your risk will be unreasonably high.