I've been cheated by Banc de binary

[Emily simmons]

Hya
Well I opened a bronze account with 250 pounds. As soon as the money was transferred Martin Grey accounts manager called me and said congratulations but I would not afterall get any help or signals from them unless I upgraded. That was basically my only option. I didn't upgrade as I wasn't going to be pushed into it. I just ignored his calls and emails

A few weeks went by and Paul Newman accounts manager rang me with a bit of a softer approach, got my trust, etc by talking about his dogs as he knew I was an animal lover. ..I eventually agreed to upgrade to a silver account by putting 1000 in...after making sure he knew that it had taken me years to save this money!!

He talked to me about my retail job. ..how it was not good money and I could make much more with this. Asked how much I'd like to earn, told me he'd work out a plan so I made a certain amount every month. It all sounded so good.

So we started trading together on the phone. My first session I lost 3 out of 5 trades. I put it down to bad luck. Next trading session I lost something like 5 out of 7 then 7 out of 10.....
It didn't get any better and eventually after my account went from 1250 to 700 in a couple of days he said I need to put 100 on each trade to get my money back. I told him this worried me and was he sure of these signals. ..he said yes so I trusted him. I put 100 on 7 trades. 6 lost....I was now looking back at my expired positions and seeing far more losses than winnings.

My account was now down to 360 in one day...he told me AGAIN not to worry we would get it back but I needed to upgrade to a gold account! It was at this point I realised it was all a scam and stopped trading.

Im in the process of trying to get a charge back with HSBC by disputing the service they have given and have contacted Action Fraud.

 

[Emily simmons]

PHARAOH ...my bf reckons the live trades we see are not even real...that it's a fake app....so we are not even trading on what we think we are....could this be true cos if it is this must b quite easy to prove? Is this possible?

 

[Pharaoh]

Binary brokers typically get a price feed from their platform providers. This price feed is similar to what you might get from an average forex broker, but there will be differences. Most binary platforms let the broker manipulate prices. So, if they want that losing trade to win, there can be a momentary price spike in your favor. If they've decided to wipe out your account, there will be as many spikes against you as necessary to do this.

The trades in a binary broker are NEVER passed on to the real market. You are playing in an online casino were every dollar you risk on a 50/50 chance bet (assuming they don't play with the prices can only get you back 60-85 cents.

I have 2 VERY critical instructions for you.

1. No matter what promises anyone at BDB makes you, no matter if it's a trade that comes along once every 100 years and is personally guaranteed by Queen Elizabeth II and the Pope, DO NOT DEPOSIT ANY MORE MONEY with BDB or any binary options broker.

2. Stop all trading and email your "account manager" and tell him to stop all trading.


If you deposited by credit card, have a chat with the fraud department at your card's issuing bank. Explain exactly how you've been defrauded and ask about a chargeback. If they agree, great! If not, consider professional assistance from WinChargeback or a similar company.

 

[AnneW]

Can I ask that everyone who has been scammed go to this thread at https://www.forexpeacearmy.com/community/threads/banc-de-binary-account-and-financial-details.45838/ - please post all details you have of Banc de Binary bank accounts that they have asked you to wire transfer funds into - that's the only way they will be able to get scot free with your funds as your bank will not be able to assist you to retrieve your funds, unless you take these scammers to court.

Please also post all details of companies your credit card transfers were routed / funneled through (SMS conformations or however your bank informed you), and which end Banc de Binary company / entity received your funds - you can find that from your credit card transaction statements.

Please let's all post all financial details Banc de Binary uses to steal and scam our money from us. In your reports to all the various authorities, please also update your reports and point them to this forum that you reported being scammed at, together with all other victims, and point them in particular to the Banc de Binary account and financial information.

 

[Aussie Scammed]

Recurring nightmare. I'm so sorry these thieves are still in business.

 

[Javz772]

Hya
Well I opened a bronze account with 250 pounds. As soon as the money was transferred Martin Grey accounts manager called me and said congratulations but I would not afterall get any help or signals from them unless I upgraded. That was basically my only option. I didn't upgrade as I wasn't going to be pushed into it. I just ignored his calls and emails

A few weeks went by and Paul Newman accounts manager rang me with a bit of a softer approach, got my trust, etc by talking about his dogs as he knew I was an animal lover. ..I eventually agreed to upgrade to a silver account by putting 1000 in...after making sure he knew that it had taken me years to save this money!!

He talked to me about my retail job. ..how it was not good money and I could make much more with this. Asked how much I'd like to earn, told me he'd work out a plan so I made a certain amount every month. It all sounded so good.

So we started trading together on the phone. My first session I lost 3 out of 5 trades. I put it down to bad luck. Next trading session I lost something like 5 out of 7 then 7 out of 10.....
It didn't get any better and eventually after my account went from 1250 to 700 in a couple of days he said I need to put 100 on each trade to get my money back. I told him this worried me and was he sure of these signals. ..he said yes so I trusted him. I put 100 on 7 trades. 6 lost....I was now looking back at my expired positions and seeing far more losses than winnings.

My account was now down to 360 in one day...he told me AGAIN not to worry we would get it back but I needed to upgrade to a gold account! It was at this point I realised it was all a scam and stopped trading.

Im in the process of trying to get a charge back with HSBC by disputing the service they have given and have contacted Action Fraud.

Hi Emily

Can I ask are you in the UK

I to have been scammed by them a large amount and wanted to know if you recovered your money ?