wildwaterz
Private
- Messages
- 10
Hi guys,
First of all, I must say I am so thankful for finding this website. As many others experience, I actually lost money (BORROWED!) with Banc de Binary and too felt physically sick. In some way, I found "comfort" in knowing I was not the only one and by far. My story is pretty much the same as everybody else's but here is the breakdown of how it happened.
I discovered Banc de Binary as a trusted broker from the signal provider "Trading Toolkit". The two reasons that pushed me towards them was the fact that they had a mobile app which I found useful, and also that they were running a promotion of 3 risk-free trades up to your deposit value (you see the trap here?).
So at first, I deposited the minimum, 250$ USD, which I played around with the signals I was getting from trading toolkit. As everyone else, I won some, lost some. Then THAT phone call came in. Dennis Gallo was my account manager. We exchanged a bit about the 3-risk free trades promotion, which he agreed to give to me. He mentionned that I should deposit 5,000$ USD to take full advantage of that promotion, because anyway, its protected! (ain't that magically great!). In some way it made sense to me. Worst case I withdraw my 5k$, best case I make about 3k$ profit! Dennis even topped my account with a bonus of 1,250$ USD! How generous of him.
So I filled all the required paperworks and here I was with an account at 6,250$ USD. Dennis began to talk to me about that big event coming, the NFP (non-farming payrolls) published by the US department. He told me that this is a major money-making event, and it happens once a month. This was about 10 days from the moment I funded my account with the 5,000$ through my credit card.
Then Dennis contacted me to tell me that there is a mini-event happening now and that we could trade my protected 5,000$. So I joined him. He actually told me OVER CHAT ON SKYPE what to trade (2 put and 1 call) and I lost 2 and won 1. So I was up by about 700$. I told him I wanted to remove my initial 5,000$ as it was now unprotected, but he told me that I needed to have at least 5,000$ in my account to be at the BIG NFP event coming next friday. He told me that he would add another 1,000$ bonus in my account to make me feel safe. At this point my account is at around 8,100$.
Then that moment arrived (not even the NFP event!), last tuesday september 29th, he calls me to tell me that there is another mini-event right now and that I should jump on the occasion. However, this time, he calls me over the phone because we need to act fast when placing trades (which made sense to me). We began trading at 1,000$ then down to 500$ then down to 250$, then down to 100$ (as he was seeing my account depleting). And the worst part?!?!?? It all happened within 15min or so. I went from 8,100$ USD to about 600$ at which point he transfered me to his personal trader to "make sure I was placing the trades correctly". The pattern repeated with the other guy and he cleaned me out from my remaining 600$.
Afterward, he told me that Dennis would meet with the recovery department and that they will come up with a plan to recover my money. I have not heard from them yet (it has been 2 days), but after what I read, it is obviously only a plan to have me invest more money again.
I have lost borrowed money, which also made me physically sick... As it might not seem alot to some people, I have never been this much in debt because of this. I have to take a loan to refund my credit card since the load interest rate will be lower than my CC. I read some of you suggested to call the CC company (Visa) and ask for a charge back but I'm not sure I understand how I can explain this to them? I feel that they will simply see this as a "you tried your luck and lost" kind of situation. Am I wrong?
I already spoke with AMF (local financial authority in Quebec, Canada) and they confirmed me that there is nothing they can do about it since the company is located in Cyprus. They however suggested I spoke with the police in case of identity theft (since I sent Banc de Binary my documents to verify my account, like driver liscence, utility bill and CC). I will also file a complain with Cysec and the Cyprus Ombudsman, although I feel that their punishment is somewhat weak (last time it was a fine of 22,000 euros... really? thats probably what they scam in one morning!). Anything else?
I have exported my skype chat with dennis gallo (the manager) so at least I have proof of him advising me what to do at least once (which I believe is illegal?). I also have 300$ left in my BdB account (becuase I was trading on signals that same day before they cleaned me out). Aside from trying to withdraw it, is there anything else I could try with this to lure them out or something?
Bottomline, as many others said... Stay away everyone!
First of all, I must say I am so thankful for finding this website. As many others experience, I actually lost money (BORROWED!) with Banc de Binary and too felt physically sick. In some way, I found "comfort" in knowing I was not the only one and by far. My story is pretty much the same as everybody else's but here is the breakdown of how it happened.
I discovered Banc de Binary as a trusted broker from the signal provider "Trading Toolkit". The two reasons that pushed me towards them was the fact that they had a mobile app which I found useful, and also that they were running a promotion of 3 risk-free trades up to your deposit value (you see the trap here?).
So at first, I deposited the minimum, 250$ USD, which I played around with the signals I was getting from trading toolkit. As everyone else, I won some, lost some. Then THAT phone call came in. Dennis Gallo was my account manager. We exchanged a bit about the 3-risk free trades promotion, which he agreed to give to me. He mentionned that I should deposit 5,000$ USD to take full advantage of that promotion, because anyway, its protected! (ain't that magically great!). In some way it made sense to me. Worst case I withdraw my 5k$, best case I make about 3k$ profit! Dennis even topped my account with a bonus of 1,250$ USD! How generous of him.
So I filled all the required paperworks and here I was with an account at 6,250$ USD. Dennis began to talk to me about that big event coming, the NFP (non-farming payrolls) published by the US department. He told me that this is a major money-making event, and it happens once a month. This was about 10 days from the moment I funded my account with the 5,000$ through my credit card.
Then Dennis contacted me to tell me that there is a mini-event happening now and that we could trade my protected 5,000$. So I joined him. He actually told me OVER CHAT ON SKYPE what to trade (2 put and 1 call) and I lost 2 and won 1. So I was up by about 700$. I told him I wanted to remove my initial 5,000$ as it was now unprotected, but he told me that I needed to have at least 5,000$ in my account to be at the BIG NFP event coming next friday. He told me that he would add another 1,000$ bonus in my account to make me feel safe. At this point my account is at around 8,100$.
Then that moment arrived (not even the NFP event!), last tuesday september 29th, he calls me to tell me that there is another mini-event right now and that I should jump on the occasion. However, this time, he calls me over the phone because we need to act fast when placing trades (which made sense to me). We began trading at 1,000$ then down to 500$ then down to 250$, then down to 100$ (as he was seeing my account depleting). And the worst part?!?!?? It all happened within 15min or so. I went from 8,100$ USD to about 600$ at which point he transfered me to his personal trader to "make sure I was placing the trades correctly". The pattern repeated with the other guy and he cleaned me out from my remaining 600$.
Afterward, he told me that Dennis would meet with the recovery department and that they will come up with a plan to recover my money. I have not heard from them yet (it has been 2 days), but after what I read, it is obviously only a plan to have me invest more money again.
I have lost borrowed money, which also made me physically sick... As it might not seem alot to some people, I have never been this much in debt because of this. I have to take a loan to refund my credit card since the load interest rate will be lower than my CC. I read some of you suggested to call the CC company (Visa) and ask for a charge back but I'm not sure I understand how I can explain this to them? I feel that they will simply see this as a "you tried your luck and lost" kind of situation. Am I wrong?
I already spoke with AMF (local financial authority in Quebec, Canada) and they confirmed me that there is nothing they can do about it since the company is located in Cyprus. They however suggested I spoke with the police in case of identity theft (since I sent Banc de Binary my documents to verify my account, like driver liscence, utility bill and CC). I will also file a complain with Cysec and the Cyprus Ombudsman, although I feel that their punishment is somewhat weak (last time it was a fine of 22,000 euros... really? thats probably what they scam in one morning!). Anything else?
I have exported my skype chat with dennis gallo (the manager) so at least I have proof of him advising me what to do at least once (which I believe is illegal?). I also have 300$ left in my BdB account (becuase I was trading on signals that same day before they cleaned me out). Aside from trying to withdraw it, is there anything else I could try with this to lure them out or something?
Bottomline, as many others said... Stay away everyone!
