GUILTY Case# 2017-039 | KOIMBURI vs Binarybook.com

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

  • Guilty

    Votes: 67 97.1%
  • Not guilty

    Votes: 2 2.9%

  • Total voters
    69
  • Poll closed .

KOIMBURI

Recruit
Messages
13
Original FPA Traders Court Submission:

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

My Case is: Sometime last year I signed up with Binary book with a deposit of $250. After trading for a while I lost it then my "expert" talked me into depositing a further $2,500 which I did. After a few trading mistakes I almost lost all of it. Then they offered to give me a bonus of $1,000 which I accepted.

By this time I was a good trader and had learnt to trade. After a few months of up and downs I managed to reach their turnover of 60 times the value of the bonus amount which they verified that I had. I managed to end up with $5,300 as my account balance.

I recently filed for a withdrawal on 10th January 2017 and managed to speak to my "expert" who told me everything is fine and I should expect my withdrawal soon. Finally after a month they sent me half of the amount being 2475 USD while I had filled for my whole amount which was approx 5,300 USD. The next day after my withdrawal was confirmed I tried to login to my account and noticed that I had been locked out as i could not access it.

The reason for not sending the other half was that they were carrying out "investigations" into my account. This was 8 weeks ago and up to now they haven't finished which i know they're just playing me.

They have my balance of $2,880 and locked my account such that I can't be able to login ever since 8 weeks ago. And btw they never gave me any notification of the same. Which is a breach of their terms and conditions.

All efforts to contact my account manager have failed as he never replies to my emails. On the live chat they're always taking me round in circles and if I persist too much they close the chat. I feel very much frustrated by this company.

New thread in the Scam Alerts Folder:

Review is submitted by Koimburi on 04/16/17

The company was first contacted about the issue on 02/27/17 the last contact was on 04/10/17

Details: They keep on saying that they'll inform me once investigations are over and when i insist to be given a certain timeline as to when they ignore me or close the chat. In the last 4 weeks none of my emails have been replied to regarding the same.

Company representatives' emails: Damon Hill <damon.hill@binarybook.com>
Support <support@binarybook.com>

 

Attachments

  • Screenshot_2017-02-06-17-03-13.jpeg
    284.5 KB · Views: 3
  • Screenshot_2017-01-17-12-38-56.jpeg
    224.6 KB · Views: 3
  • Screenshot_2017-02-24-11-49-57.jpeg
    261.8 KB · Views: 2
  • Screenshot_2017-02-24-11-47-40.jpeg
    277 KB · Views: 2
  • Screenshot_2017-02-23-18-51-15.jpeg
    247.8 KB · Views: 1

Pharaoh

Colonel
Messages
20,013
Check your Scam Alerts thread and post an update when you've done what's in post #6.
 

AsstModerator

FPA Forums and Reviews Admin
Messages
5,626
I've just issued the formal FPA invitation. Please post an update on Friday or Saturday to let me know if you've heard back from Binary Book.
 

KOIMBURI

Recruit
Messages
13
I've just issued the formal FPA invitation. Please post an update on Friday or Saturday to let me know if you've heard back from Binary Book.
I haven't heard anything from them. Went on chat today and their support staff called Dorian Walker closed the chat on me.
 

Tryingtrader

Sergeant
Messages
192
I haven't heard anything from them. Went on chat today and their support staff called Dorian Walker closed the chat on me.
They can hardly call themselves 'Support' if they close the chat on you, so really you are chatting with another scammer with a so-called helpful job title. Bonus money is not real money it's like Monopoly money and is used by these scammers to tie your account in knots. Once you accept their offer of a bonus you've gone down the rabbit hole - goodbye to reality. You were lucky to gt the $2475, most get nothing. Let's hope you at least get back what you put in, and put this down to a lesson on life that's filled with scammers. Good luck.
 

snapped2002

Master Sergeant
Messages
255
Okay I have looked at the screenshots and have to admit they did not help me much so I will go with just what you said.

You deposited $250 and lost it.
You then deposited $2500 and lost "almost" all of it.

The problem I have here is that I don't know what the account was sitting at, at this point however you stated "I managed to reach their turnover of 60 times the value of the bonus amount", wouldn't that be $60,000?

They gave you a deposit bonus of $1000 to keep you trading and you managed to get you account to 5,300 (awesome) and so they allowed you to withdraw $2475.

From what I am seeing you lost your own money (2750), got bonus money and managed to make back almost everything you lost (again amazing and bravo to you) so they let you take out about %50.

I guess my questions are these:

If you lost all your deposits and yet they made it possible to win the money back and honored the withdrawal almost to the degree that you regained all of your own losses, how can you say they stole from you? All your money was lost, you made that $2,475 using bonus money that they gave you. Of course they want to keep you in the game.

If you made that money and still have an account why would you want to effectively close it by withdrawing all of the funds.

I think its most likely that the investigation is "how the hell did he win LOL"

Sorry but I am voting not guilty on this one as you lost all your money, they gave you bonus then honored the withdrawal that gave you back almost all the money you lost! In my opinion they don't fit the bill as scammers.

As a matter of fact I believe that them giving you bonus money helped you become a better trader. Had they not done that you would have been out without a nickel as you lost your money.

Nope, this is a not guilty for me.
 

Pharaoh

Colonel
Messages
20,013
They kept half the money and never provided the results of a promised investigation.

Guilt isn't based on whether or not the initial deposit is refunded. Guilt is based on whether or not all funds owed are paid. Since Binary Book didn't bother to show up and join the discussion or to provide Koimburi with their so-called investigation, I see no reason to doubt that they owe him the rest of the money and are showing no signs of willingness to pay it.

My vote - GUILTY!
 

Tryingtrader

Sergeant
Messages
192
Absolutely! I would be extremely suspicious and intensely displeased if my share broker decided I could only have half of the money in my account and the hang up the phone and not talk to me anymore. Either Binarybook are running an honest business or they are not. If they decided to award a $1000 bonus and this developed into a healthy account balance why shouldn't the customer withdraw it if they choose. These guys are GUILTY!
 
Top