Banc De Binary
Complaint 261837 Details

If you are considering Binary Options and don't know much about it, DO NOT speak to a broker from Banc de Binary. All I asked for was a demo account to practice on my own with tips I had already received elsewhere. This was promised to me by opening an account and making a $250 deposit.

Once I made the deposit the broker insisted that I don't need a demo account and would not give it to me (omitting to tell me that all I had to do was contact Chat online to open one!) He then set about pursuing me relentlessly with promises of how much money I would make, copies of other successful trades, made statements about 80% success rate and bonus offers from the bank. He said he is the expert and would provide all the signals for me. He told me that I could not make big money with small deposits and hounded me until I finally parted with 10K from my credit card! This I only did because of a personal financial crisis situation I am in and which he was now fully aware of, offering to help fix it up for me.

I was nervous but still trusting him as he assured me I could, I followed his signals as per his suggestion. In no time at all the money was all but gone. I was devastated but he came at me again offering a solution - trading the NFP - guaranteed to recover my losses. I was very unsure but he kept going and wanted to withdraw more from my credit card assuring me that it would work out and offered a big bonus to raise the amount in order to make big wins. Well, starting with 25K on the NFP, nothing went right and I am now down to 7.5K with my credit card maxed out! He knew I would be in trouble as I was using money on credit but still he went ahead chasing me and saying he "is here to help".

Now they won't let me have the remaining balance as I must first do the required turnover trading that goes along with accepting a bonus! Bottom line is that I am now forced to learn how to trade (whether I like it or not) to try and get some money back from all that I lost or even to just get back what is left in my account. I can not withdraw that money so I either have to accept a loss of +- 25K or work on trade daily and hope like hell that I make a profit out of the remaining balance.

I am now working with a decent guy and group while I learn but this was not what I wanted to do long-term. I only wanted to try it out.

Knowing what I know now, I would NEVER go into this business again. I hope this helps other people not to make the same mistake I did.