GUILTY Case# 2017-014 | pip.q vs BinaryInternational.com

Based on the available evidence, do you believe that BinaryInternational.com is Guilty?

  • Guilty

    Votes: 86 98.9%
  • Not guilty

    Votes: 1 1.1%

  • Total voters
    87
  • Poll closed .

pip.q

Private
Messages
12
Original FPA Traders Court Submission:

I am submitting the case against: www.BinaryInternational.com

My Case is: I began my request to withdrawl funds from my account and close the account four weeks ago. I tried to execute the withdrawal online but kept getting a server error so then I attempted to reach them by many different methods. I initially called their USA number and was told by two different rep's they could only take a message and have someone call me back. No one ever called back. They further attempts to call either got a busy signal or a recording that the number had been disconnected. I tried chat and was told to send emails to three different departments. I had already tried emailing and had no reply. Each chat email given, I also wrote and no reply. I scheduled appointments with their online tool, was stood up the first time, told the second time I had to chat with someone different, set an appointment with that specific person and was told they could not help me. Finance finally emailed and said I had dormant fees but if I traded the account the dormant fees would be waived. My financial advisor said any fees a financial institution charged must be invoiced at the time due and I have never received any invoice showing any fees due. When I tried to have them execute with their bogus fees, they said the account had been dormant two years. The last trade on my account was April of last year. So when I informed them of that, they then said I had dormant fees from previous years. When I asked how many trades would have to be made to wave the fees, they do not answer that question. When I shared what my financial advisor said, about invoicing at the time fees are due and the fact I have never received an invoice, they refused to answer. I just want the money in my account returned and the account closed. Please help!

New thread in the Scam Alerts Folder:

Review is submitted by pip.q on 01/29/17

The company was first contacted about the issue on 01/09/17 the last contact was on 01/27/17

Details: Phone reps say someone will call me back - no one has
Then phones when busy all the time or went to a disconnect recording
Chat - every chat person tells me I need to contact a different department, support, compliance, finance
Finance finally emailed but said I had fees on my account. I have detailed their comment above. They only answer 1 question at a time, typically taking 2 or more days to reply to just one question and ignoring other questions. When I told them the date of my last trade, they went back before that and said I had other dormant fees. I have never received an invoice for any fees and now they are claiming fees from upto 3 years ago. They are simply threatening to take all my account funds for fees they have never invoiced and are claiming are owed. At one point they said if I just traded my account the fees would all be waved. When I tried to clarify, they would not respond. My financial advisor has said it is illegal for a financial institution to claim fees in arrears that have never been invoiced. I stopped trading this account when I didn't hear back from my account manager. I just found out my account manager left the company sometime last year and no one told me or attempted to contact me. I just want to withdrawal my money and close the account.

Company representatives' emails: Monica at <finance@binaryinternational.net>
Monica at <monica@binaryinternational.net>

 

Attachments

  • BI withdrawl.docx
    44.1 KB · Views: 0
  • BI Trades20170129_20424982.pdf
    39.8 KB · Views: 0

Pharaoh

Colonel
Messages
19,924
Did you follow FxMaster's advice yet? Specifically, the part about inviting them to your thread in Scam Alerts?

Post an update in the Scam Alerts thread and here once you've done that.
 

pip.q

Private
Messages
12
[
Did you follow FxMaster's advice yet? Specifically, the part about inviting them to your thread in Scam Alerts?

Post an update in the Scam Alerts thread and here once you've done that.
Yes, I have invited BI to the thread.
QUOTE="Pharaoh, post: 272200, member: 164"]Did you follow FxMaster's advice yet? Specifically, the part about inviting them to your thread in Scam Alerts?

Post an update in the Scam Alerts thread and here once you've done that.[/QUOTE]
 

Attachments

  • BI correspondence for FPA.pdf
    63.2 KB · Views: 7

AsstModerator

FPA Forums and Reviews Admin
Messages
5,593
I think I somehow let this one slip through the cracks. I'll go ahead and send the FPA invitation now.

Please post an update on Friday if you've heard nothing back from Binary International.
 

pip.q

Private
Messages
12
I think I somehow let this one slip through the cracks. I'll go ahead and send the FPA invitation now.

Please post an update on Friday if you've heard nothing back from Binary International.
I have not heard anything back from Binary International.
 

F***X

Sergeant
Messages
237
Any so called "binary options" scammer that charges "retroactive dormant fees" while refusing to acknowledge a legitimate withdrawal request is a sure sign that they already spent your funds counting on the premise that all traders will eventually will lose. When only by freak chance, encounter a profitable trader they are shocked and behave inappropriately.
 

erwingroot

Recruit
Messages
2
Any so called "binary options" scammer that charges "retroactive dormant fees" while refusing to acknowledge a legitimate withdrawal request is a sure sign that they already spent your funds counting on the premise that all traders will eventually will lose. When only by freak chance, encounter a profitable trader they are shocked and behave inappropriately.

This is exactly how it is. These binary firms just think the money you deposit is theirs. They are used to see people loose all their money, by their manipulative software. They start to behave difficult when someone has any profit.
 

Nachoga

Recruit
Messages
7
Three questions from also a Recruit:
1. Is there evidence from e-mails and chats?
2. Was there a deep stage of review&test about this broker?
3. Aren't any clause at the contract that could help you?
 
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