Banc De Binary are a bunch of thieves, they operate on two platforms. An eu.bancdebinary.com platform owned by Banc De Binary Limited, Cyprus and a bancdebinary.com platform owned BDB Services (Belize) Limited. Ultimately it is one and the same company.
The bancdebinary.com platform is not regulated but only licenced by IFSC/60/352/TS/15. The eu.bancdebinary.com platform is authorised and regulated by Cysec under licence no 188/13 and is registered with regulatory authorities in the European Union.
When senior account managers market Banc De Binary's business and services to you they use the licence, regulation and awards to convince the prospective client that they are regulated. I received an email from the account manager showing the licences, regulation and awards. They then direct the client to use the bancdebinary.com platform owned by BDB Services (Belize) Limited which in actual fact is not regulated by Cysec but only licenced by IFSC. This is precisely why they refused to give me a CIF number so that I could lodge a formal complaint with Cysec. In Aussiescams case they provided her with an invalid CIF number.
All this is done in such a manner to scam, con, deceive, manipulate the prospective client into parting with their money and then directing them to the platform that is unregulated.
This is fraud because as per the definition of fraud:
A false representation of a matter of fact - whether by words or by conduct, by false or misleading allegations, or by concealment of what should have been disclosed, that deceives or is intended to deceive another so that the individual will act upon it to his/her legal injury.
In Banc De Binary's replying letter to my bank to contest the chargeback they claim the following:
"Whilst a client of Banc De Binary, the client received, amongst other services, extensive care, guidance, and financial education in order to assist the client to trade"
There is absolutely no way that I received extensive care, guidance and financial education given the facts mentioned above. In conclusion Banc De Binary are not a scam but a fraudulent company with one intention in mind to steal clients money. Please stay far away from them.
Please check properly which platform you were directed to trade on and most probably all of you would have done so on the bancdebinary.com unregulated platform.
Please also read the article showing a glowing report on Binary Options trading. I tried to place negative comments based on my experience with Banc De Binary warning potential clients and every time I did so the moderator deleted my comments. I have also tried researching the names of persons mentioned in this article and it all seems fake. I can only conclude that this page is published and controlled by Banc De Binary.
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The only way to stop this fraud is to file a class action lawsuit against them by all victims and have this platform closed. The big question is which international law firm would be willing to take them on and how do we fund this lawsuit?