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

[ruseneca]

"Same plot, different actors".

It seems that they target forex newbies, disregarding of their financial background. These people are professionals, probably WallStreet guys, trained to convince people how could they benefit from markets, especially trading binary options which are much more simplified way to trade on markets and eventually, gain some money.

It is clear that their intention is to empty client's account as noone would ever propose a "recovery plan" with 100% of client's capital involved in a single binary option. In other cases, 100% of capital is distributed to several options without any logic.
My question is the same ( as there is already a case against that company )...Why client accepts these "signals" and place options as per "company's scenario" and not as per his own expectations. Also, how many people process deposits several times after losing their 2-3 deposits, in spite of these promises for some "recovery". What a person will go to the bank, apply for a loan and "gamble" it? It is so important to manage your capital. Well, the person has already invested into a retirement fund and he risks his retirement money to invest in the same company which has lost thousands of his own loan. That must be a joke!!!! I cannot understand why people trust them, instead of enforcing the some "tone" in communication when a broker asks the client to risk more and more money.
It is sickening to read what brokers had written and there's just shyly agreement from client's side, disregarding of the number of losing trades that company's managers have indirectly placed.

I would definitely vote "Guilty" because there are enough evidence that the client has been misleaded. The promises for VIP account have not been kept. Instead of explaining the high risk to the client, he is asked to take a loan and process another deposit with unreal "recovery plan" which is pretty much the same as these, proposed to him before. Asking client to allocate all of his funds into a single binary option is a pure gambling. In stead of leaving the client to trade, brokers stick to the plan to make him gamble.

From what I read in the files that the client has uploaded, I cannot say that it is unethical or unprofessional to ask client to go in a debt. This is a crime! You just mislead the client with a false service to steal his/her money. They offer binary options trading but it seems that they ask clients to gamble. Trading differs from gambling!

 

[AsstModerator]

The poll on this issue is now open.

 

[FerlanX]

Holy molly sh*t

I am so sorry to hear the story from u man, hope you'll get even

 

[Jennyyy]

Same way to cheating newbie. Bonus plus lost account, then, tell you this is the risk for invest in market!!! Do trust any account manager. They just want you lost money, they don't want you win.

 

[Bill Tyson]

This is bad and i feel sorry for the poor guy and the many others that are being scammed on a daily basis. These guys are being taken advantage off. This guy and many like him are getting involved with things they know nothing or next to nothing about. The lure of the get rich quick scheme is very well run buy these market scammers and they need to be dealt with.
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

 

[Carrie07]

Absolutely 100% guilty. I have been through the exact same thing with this dirty outfit, though thankfully my losses were not as heavy as his (£12,000). I was offered a 'recovery plan' as they had 'investigated' my losses .... All signals given via Skype with a manager .... And found the broker/manager to be guilty of mismanagement of the account and no risk-management done. They apparently 'fined' the people concerned £5,000 which would be put into my recovery fund, together with another £5000 from them ...... But I would have to add another 5000 myself! Since they helped me max out my credit card with their undue, unethical pressure there was no chance of me doing this I had to suck up the losses. I can verify the pressure they put on, to get you to try and get loans from banks/friends/ anywhere you can and the names of the people are all too familiar. These people go out of their way to make you lose money and should be stopped. They take advantage of newbies and panic people into investing more and more and really do break them with their promises of massive profits. I also feel very stupid having fallen for their lies, but they are very professional scammers and I completely understand why this happened to NetoB. It's all very well people saying he shouldn't have invested more, but when you have risked everything on the promises they have been given, desperation sets in and this is what these scammers play on with their pressure. Guilty guilty guilty!

 

[Carrie07]

"Same plot, different actors

My question is the same ( as there is already a case against that company )...Why client accepts these "signals" and place options as per "company's scenario" and not as per his own expectations. Also, how many people process deposits several times after losing their 2-3 deposits, in spite of these promises for some "recovery". What a person will go to the bank, apply for a loan and "gamble" it? It is so important to manage your capital. Well, the person has already invested into a retirement fund and he risks his retirement money to invest in the same company which has lost thousands of his own loan. That must be a joke!!!! I cannot understand why people trust them, instead of enforcing the some "tone" in communication when a broker asks the client to risk more and more money.!

The reason this happens is because the false promises and lies given to a person in financial desperation gives them some hope. Not everyone is strong enough to refuse a potential lifeline to recover losses, even though it's false, especially when they are new to this kind of trading. These companies seem to prey on the bad emotional state sadly. I understand 100% how this happened, right or wrong, it's fear. I've been through exactly the same thing with the same company and it's sickening!

 

[anthony egbiwe]

Read the skype with David Hope and Larry Morgan. It is sickening to trap and take advantage of desperate situations and made to deposit more and more, asking to take debts, apply new credit cards (with few got rejected )

[19/01/2015 4:41:39 PM] Larry F. Morgan | Senior Account Manager: Go to several banks tomorrow

They will create such a scenario that the loss was
i.) due to client not opening trade on time or
ii.) platform issue or (read the mail sent to customer care and their reply. I still doubt that they created such things intentionally and use this to inform newbies as a genuine reason for initial loss. So to recover loss and careful next time, they will ask to deposit more. Happened to me as well)
iii.) just lost on the last pip or
iv.) throw all the blame on client if he opened a very minor trade and lost (that you gambled the money).

Clear Guilty and I will vote on it.

u are right bro this is scam number 1 with triple A

 

[anthony egbiwe]

this is charming scam this company must be brought to justice by the LAW

 

[1wildhorse]

i feel for you so much.this is by far the worst of all cases against this sick outfit of con artists i have ever heard.they literally stoop at nothing to get every ounce of money they possibly can from victims.how on earth is this company even legal?if this was transylvania by now the torches and pitchforks would be out hunting down these horrible horrible VAMPIRES.this creates a new low.i honestly dont even have words to describe this it is so disgusting.GUILTY doesnt even get close.