GUILTY Case# 2015-098 | NetoB vs bancdebinary.com

[Dermolikesprofit]

This is unbelievable, I am truly shocked at the depths these con-men will stoop to.

Usually when you try to open a live account with a genuine broker they will not allow you to do so until you can prove that you have a certain percentage of RISK capital that you can AFFORD to loose, without affecting your current living standard and two that you have some idea of what you are getting into.

BancDeBinary.com has proven time and again that they are unethical and nothing more than a total scam, and that's putting it politely.

 

[Simone Di Luca]

Dear NetoB, I think you're right, but also that you were naive. however, I hope you will be able to recover the stolen goods.
sorry for my english

 

[Gladiator76]

I have been really waiting to vote on this
Well, I said it before and I say it again here, if you have been following this scam broker, you will know that these are not your everyday scammers, they are actually professional thieves who know exactly who to scam, how, and when. Many people don't understand how traders trust brokers like this and keep sending their money to them even after losing to them before. And although some of the blame lies on the traders themselves, but still these scammers are really really professional. They know how to manipulate people, they know the right things to tell them and the way to do so. It is an art by itself, and these scumbags are the masters of it

 

[feaisland55]

Bill Tyson--your idea about a list of honest companies is excellent. i wonder how a reliable list could be assembled--feaisland55

 

[feaisland55]

NetoB--it sounds like these people took advantage of you. it sounds like your account managers put most of their energy into picking your pocket: they take your money and then offer to get it back if you give them more! somebody once said that the biggest insanity is going back into the ring with cassius clay (muhammad ali) after he has already knocked you out a few times! i am sincerely very sorry that these shameless scoundrels have ripped you off, but as one other poster said,we all have some responsibility not to be gullible--there are so many crooks walking around that they will devour us if we are not careful. GUILTY--feaisland55

 

[Pharaoh]

Is it possible for the FPA to place a list of names of genuine companies so the newbies will have a fair go and as you also list the bad ones already that is half the battle but the good companies would in my mind make it complete.
This should reduce the number of complaints and help stop people from being ripped off.
Hope i am not out of line here as my only intention is to stop the rippoffs
Bill

Two BIG problems with this.

1. Banc de Binary has had terrible reviews and big warnings on its review page for a long time now. Newbies still sign up there and only visit the FPA later. A hypothetical list of FPA approved brokers doesn't help if people don't check the FPA.

2. Sometimes very well rated brokers with a long history turn bad. In some cases, the problem is temporary and gets fixed. In other cases, all the claims of temporary issues are just a smokescreen to allow more money to be stolen and hidden away. Is there anyone here who wants to take responsibility for the losses that FPA members could suffer in a case like this? Have you seen the accusations that get. Have you seen the accusations that get hurled every time someone has an issue (real or self-inflicted) with an FPA advertiser? It would be 100 times worse if an "FPA Approved" walked off with all the money.

People need to use the information that's all available for free at the FPA. When they do pick a broker, they need to check that broker's reviews and for complaints in Scam Alerts from time to time.

That being said, I wouldn't mind of my fellow sergeants would visit the NCO Lounge (visible only to those ranked sergeant and above). There's a old thread there about Company Pledges which could result in an additional way to help screen out bad companies and promote good ones. I would really like some input on that before putting the idea out for public discussion or pressuring AsstMod to implement it.


Oh, and BTW - GUILTY!

 

[1wildhorse]

this one was always a no brainer.as you say pharoah unfortunately people usually stumble upon this site AFTER the fact.i was one of the unfortunate individuals that in the first instance 'fell prey' to their game.and i was able to find FPA as a result.however i was smart enough not to fall any further into the trap that they set out,and indeed was able to recover my deposit,plus the profit that i had managed to glean from them during my harrowing time with them.so when others speak of a similar story it reminds me of the SAME game that my supposed 'senior broker' tried to play with me.only i was smarter.my heart goes out totally to those that are gullible enough to listen to these thieves.

 

[naveen1020]

In the end of the day, the client is at the zero. I have no idea why people make second and third deposits once they reach the $0. They could limit their losses but instead of limitting, they go into deeper debts.

Better you read others posts, why few newbies go into more deposits. They are experts in cheating. And we are just sharing our experience, so that others will be careful with this firm.

Few reasons they give are

i.) One manger empties account and other will call that this manager fired, laid off and ask us to deposit more to recover the account
ii.) Losses due to system issues and ask us to deposit more with assurance that it won't happen again
iii.) Recovery department. Recovery plan1, plan 2 , plan 3 etc.. until they can extend.
iv.) VIP department...blah..blah..
v.) CEO group....
vi.) Super CEO group..hmm....

There is no end and they always has some or the other story to tell.

Carrie07 put it really well. We can never blame the victim. In those moments when you've lost so much, it's only natural to want to get it back. I feel for you, bro. It's nauseating--to say the least. I have an account manager, and I was about to cut ties after a big loss, but my manager admitted 100% responsibility and did not ask me to deposit more. Hence, I stayed and have since seen good profits. My broker has a very strong reputation online (I won't say their name because I don't want to provide free advertising for them, and I'm still not 100% confident in them.), and that's the only thing protecting me right now. Imagine if a broker's reputation was already flawed. There would be NOTHING stopping them from becoming absolute scam artists. It seems this is what Banc de Binary has become. I think this one is going to be pretty open and shut, especially considering all of the broken promises that are present in writing.

This firm has professional cheaters. Ofcourse you support this, as in other thread you mentioned that, with my loss of 50k, I could have opened a brokerage firm and learn the tricks and tips to cheat newbies.

 

[naveen1020]

@AdamC, has well put. BDB went to such an extent that there is no end to their lies and they were professionally trained to cheat.

 

[ruseneca]

When Einstein was asked his opinion about what he thought what madness was he awnsered.. trying to do the same thing all the time and expecting a differrent outcome.

...and it is sad that people don't spend time thinking about possibilities but leave themselves in emotions' hands. Einstein was right, there's no other outcome when you leave emotions to take over. This is rule number 1 when you start trading - don't let emotions to take over your trading strategy. This is what most brokers do, they use emotions to control you.

2. Sometimes very well rated brokers with a long history turn bad

this one was always a no brainer.as you say pharoah unfortunately people usually stumble upon this site AFTER the fact.i was one of the unfortunate individuals that in the first instance 'fell prey' to their game.and i was able to find FPA as a result.

Right! I was shocked when FPA made public several cases against IronFX. Anyway, the idea of a good broker is very subjective.
People really Google such cases after they are scammed and publish their stories so that they can protect others from being scammed.
All brokers have good and bad sides, it always depends on your needs and trading style!

BDB went to such an extent that there is no end to their lies and they were professionally trained to cheat.

They will not end because their aim is to get as much as possible from single trader. They won't stop unless you stop them