27 April 2015. The first broker from Banc de Binary who convinced me to deposit much more than I wanted was Larry F Morgan, Head Manager at Banc de Binary. He gave me an iron clad guarantee that I could make a huge windfall on Apple shares with a $100,000 premium trade (two month expiry) if I deposited as much money as I could from my credit cards. I ended up depositing $11,250 dollars. The money was not placed against Apple but deposited into my account. So what happened to this so called premium trade?
Morgan also offered me a 100% bonus to my account. He called this bonus “protected capital”, meaning if it was lost it would be refunded. I agreed to this and signed up for the bonus agreement. However the next day Morgan called me on Skype and said I would only be given the bonus if I agreed to cancel the protected capital agreement. This was not mentioned before, so I refused. Morgan then said that after I made some profits, I would be offered the protected capital again.
7 May 2015. I then received a call from David Hope (managerial level in BdB unknown) who said that Morgan had been "removed" from Banc de Binary and Hope was tracking down all clients that Morgan had contacted. The Head Manager had been removed. By whom I wonder? Hope was charged with tracking down all of Morgan’s clients to find out what he had offered them. I told me what Morgan had offered me, as detailed above.
In order to make up for Morgan’s unauthorised 99% guarantee trade on Apple, Hope offered me a VIP trade with a 24 hour expiry against oil, in order to recoup my losses. This is where I made my big mistake with Banc de Binary. Hope recommended two lots of $5,425 trades against oil. What broker anywhere would recommend that a trader risk 90% of his capital unless the broker was either a fraud or didn't know what the hell he was doing? I had now lost my entire account and had 45 cents left over.
The trade was lost and Hope then gave me a bonus of $10,000. He then recommended another trade of 100% of my account against oil again. This trade finished out of the money and now I was down to nothing. I complained that $1,250 was missing from my account and this was refunded. So from a starting balance of $11,250, I now had $1,250 left. All thanks to David Hope and his VIP trade offers.
8 May 2015. Broker No. 3, Nick T rang. Nick said that he would help me recoup the losses incurred by David Hope. He managed to give me some trades on one session that got my balance back to around $3000. Although he said that he was now my broker, he never got in touch with me again.
18 May 2015. After waiting for Nick to contact me, I got a call from broker number 4, Nathan Hawke (Head of Australian Desk at Banc de Binary). Hawke said that he would apply for a risk assessment plan on my portfolio on the condition that I deposited another $5000 into my BdB account. I told him that I had no more money to deposit and I had taken out a loan with my bank to pay off the money lost by Banc de Binary. Over the next three days Hawke telephoned and harangued me to deposit more money into my account, despite my repeated claims that I had no more money to deposit. He finally gave up on me.
25 May 2015. Broker 6, Tony Petrovich (Finance Manager for Bank de Binary) rang. He claimed that Nathan spoke to him and Petrovich now wanted to clear up any misunderstandings, whatever those misunderstanding were. Petrovich said that he had looked briefly at the record of my trades which he said “were no good” and could not understand why David Hope had recommended that I trade 100% of my account. Petrovich said that he wanted my experience at Banc de Binary to be a positive one. He said that he would look at my account and talk to Hope about why he suggested I make the trades that I did.
I made it perfectly clear that I would not and could not deposit any more funds into my account. Petrovich claimed that he didn’t stand to make any money from my trades and wanted to work with me over the next 6 to 12 months to recover my funds based on one quality trade each week. I didn’t hear from Petrovich again until 10 June.
On 10 June 2015, Petrovich Skyped me and strongly recommended that I trade $500 on HSBC. This meant more than one third of my remaining balance. I reminded him that he had promised to work with me to slowly build up my account back to around $11,000. His response was that this was a special event. By this time I had had a gut full of the BdB brokers and their claims that they only wanted to “help me” and give me a positive experience with BdB.
I made a withdrawal request for the remaining $1,349.14 in my account and received a phone call from a very angry Tony Petrovich demanding that I cancel my withdrawal request. As some of this money is bonus money, I’m only entitled to $695.00.
15 June 2015. I received an email from Angelina Richards (Senior Account Manager) claiming that she had been trying to get in touch with me without success (exactly as Petrovich had claimed). She made me a special offer to join her trading room on how to trade. I replied making it clear that I would not deposit more money or cancel my withdraw request.
On 17 June Richards emailed me back, all defensive and indignant and wished me luck. That is, because I made it clear that I would not deposit more funds, she was no longer interested in helping me.
Ubiquitious.
Morgan also offered me a 100% bonus to my account. He called this bonus “protected capital”, meaning if it was lost it would be refunded. I agreed to this and signed up for the bonus agreement. However the next day Morgan called me on Skype and said I would only be given the bonus if I agreed to cancel the protected capital agreement. This was not mentioned before, so I refused. Morgan then said that after I made some profits, I would be offered the protected capital again.
7 May 2015. I then received a call from David Hope (managerial level in BdB unknown) who said that Morgan had been "removed" from Banc de Binary and Hope was tracking down all clients that Morgan had contacted. The Head Manager had been removed. By whom I wonder? Hope was charged with tracking down all of Morgan’s clients to find out what he had offered them. I told me what Morgan had offered me, as detailed above.
In order to make up for Morgan’s unauthorised 99% guarantee trade on Apple, Hope offered me a VIP trade with a 24 hour expiry against oil, in order to recoup my losses. This is where I made my big mistake with Banc de Binary. Hope recommended two lots of $5,425 trades against oil. What broker anywhere would recommend that a trader risk 90% of his capital unless the broker was either a fraud or didn't know what the hell he was doing? I had now lost my entire account and had 45 cents left over.
The trade was lost and Hope then gave me a bonus of $10,000. He then recommended another trade of 100% of my account against oil again. This trade finished out of the money and now I was down to nothing. I complained that $1,250 was missing from my account and this was refunded. So from a starting balance of $11,250, I now had $1,250 left. All thanks to David Hope and his VIP trade offers.
8 May 2015. Broker No. 3, Nick T rang. Nick said that he would help me recoup the losses incurred by David Hope. He managed to give me some trades on one session that got my balance back to around $3000. Although he said that he was now my broker, he never got in touch with me again.
18 May 2015. After waiting for Nick to contact me, I got a call from broker number 4, Nathan Hawke (Head of Australian Desk at Banc de Binary). Hawke said that he would apply for a risk assessment plan on my portfolio on the condition that I deposited another $5000 into my BdB account. I told him that I had no more money to deposit and I had taken out a loan with my bank to pay off the money lost by Banc de Binary. Over the next three days Hawke telephoned and harangued me to deposit more money into my account, despite my repeated claims that I had no more money to deposit. He finally gave up on me.
25 May 2015. Broker 6, Tony Petrovich (Finance Manager for Bank de Binary) rang. He claimed that Nathan spoke to him and Petrovich now wanted to clear up any misunderstandings, whatever those misunderstanding were. Petrovich said that he had looked briefly at the record of my trades which he said “were no good” and could not understand why David Hope had recommended that I trade 100% of my account. Petrovich said that he wanted my experience at Banc de Binary to be a positive one. He said that he would look at my account and talk to Hope about why he suggested I make the trades that I did.
I made it perfectly clear that I would not and could not deposit any more funds into my account. Petrovich claimed that he didn’t stand to make any money from my trades and wanted to work with me over the next 6 to 12 months to recover my funds based on one quality trade each week. I didn’t hear from Petrovich again until 10 June.
On 10 June 2015, Petrovich Skyped me and strongly recommended that I trade $500 on HSBC. This meant more than one third of my remaining balance. I reminded him that he had promised to work with me to slowly build up my account back to around $11,000. His response was that this was a special event. By this time I had had a gut full of the BdB brokers and their claims that they only wanted to “help me” and give me a positive experience with BdB.
I made a withdrawal request for the remaining $1,349.14 in my account and received a phone call from a very angry Tony Petrovich demanding that I cancel my withdrawal request. As some of this money is bonus money, I’m only entitled to $695.00.
15 June 2015. I received an email from Angelina Richards (Senior Account Manager) claiming that she had been trying to get in touch with me without success (exactly as Petrovich had claimed). She made me a special offer to join her trading room on how to trade. I replied making it clear that I would not deposit more money or cancel my withdraw request.
On 17 June Richards emailed me back, all defensive and indignant and wished me luck. That is, because I made it clear that I would not deposit more funds, she was no longer interested in helping me.
Ubiquitious.