Banc De Binary & Titan trade are a SCAM!

kyohshirokyohshiro Posts: 2
edited June 2015 in Complaints
hi is there anyone trading in banc de binary or titan trade? and are you able to withdraw from them?

Comments

  • KGBKGB Posts: 9
    Good Luck with that.
    I would suggest already checking with your credit card provider if you can cancel the transactions.

    In addition, you should collect all your correspondence with them. If they don't pay you back you always have the "option" of filing a complaint with Cysec(at least for bdb)

    Good luck again!
    "You either die a hero or you live long enough to see yourself become the villain."
  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
    Yes both of those brokers have been accused of fraud by many clients and have TONS of complaints.
  • kyohshirokyohshiro Posts: 2
    im screwed.. thanks.. are you traders too? can you tell me what brokers are you guys in.. T_T
  • thebotarmorthebotarmor Posts: 49
    If you are from anywhere else but US you can use nicely regulated MT4 brokers like CLM. Otherwise, Marketsworld might be an option.
    Regards,
    Deromra Tob
    Bot Armored
  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
    edited July 2015
    I agree with him Markets World is your best bet... Specially if you were scammed then you can see what an HONEST broker as honest as one of these guys are will be like lol.. Their segregated bonus structure is very nice. Basically its the only kind of bonus I would ever recommend where the funds are separate and do not effect your deposit. You never have access to the bonus funds till the requirements are reached, then its moved to your account where its fully withdrawable...
  • suchiangsuchiang Posts: 63
    CySec is a joke,Broker like Banc De Binary regulated by cysec your money there is still not 100% safe..!!
  • KasshKassh Posts: 9
    I've always thought that Bbinary was legit, at least the website seems ok and they are regulated... Oh well, im glad i've bener signed up with them..
  • AnastasijsAnastasijs Posts: 7
    edited November 2015
    I have some small experience with Banc De Binary! Customer service is terrible, they were calling me "like hell" (after this i'm not providing my real ph. no.) tried to convince me deposit more money! I made some money trading on my own and then with help of my "account manager" lost some and he said that i have to deposit more to make more... funny a bit, he helped me lose some money and started complain that I don't have "enough" money on my account! :) After that I withdrawal all my money and finish with them! I do not recomed this broker!
  • I just signed up with MarketWorld because of the ads here, but I had heard good things about Banc de Binary on a number of sites. But I just read the TOS for MarketWorld. Even though they're "regulated" on the Isle of Man in Great Britain, the specifically state they are a gambling site.

    So why are they recommended?

    I'm new, and from Canada, so I have a lot to learn but Binary trading isn't illegal here, it just isn't regulated here.
  • BryanMacBryanMac Posts: 851 ✭✭✭
    Markets world is good cause they never call you and they have 48 hour withdrawal, unless you pop a huge amount to bank then maybe 3 days, the assets are limited, and the price will go bonkers every few months, but overall they are good. They cross no lines for US trades because they do not solicit. So that keeps the US traders out of trouble and them off the radar. If they do start soliciting which i don't think they will then they would be risky.
    Bryan Mcafee
    Hit me up on skype at Brymcafee (McAllen TX)
    www.tradingaxis.com
  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
    edited November 2015
    I would stay away from most spotption based brokers such as Banc De Binary which has one of the WORST reputations in the industry and even was SUED by the U.S. also the highest number of complaints of FRAUD of any binary option broker is what they are now known for.
  • I thought Spot Option was just the software interface? or is there something more sinister here that I have missed?
  • bunyipbunyip Posts: 1
    TitanTrade are a scam organiztion. I am having a great deal of trouble getting them to return my deposit of $10,000 US. What can I do? Can Cysec
    handle the complaint?
  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
    If you deposited vis credit card you can file a CHARGEBACK that is your best defense vs a scam broker like TitanTrade.
  • CamCam Posts: 28

    I thought Spot Option was just the software interface? or is there something more sinister here that I have missed?

    Yep you are missing. Spotoption is not just a technology provider but promotes the behavior of their scam brokers.
    I personally know of a developer who use to do some IT work for one of the brokers. He was implementing changes and doing a lot of 60 sec testing trades.For him they turned out winners.Now hears there interesting bit. 60 sec trading was disabled on the platform not by the broker even though he has the function but by Spot themselves.They were not aware he was trading demo money.Even worse the broker themselves did not know that 60 sec trading had been disabled until some customers started complaining. Then the broker sent a very angry letter to spot option demanding they return the function. But before they could spot wanted an explanation what was going on because as to put init their words it was "hurting the market".

    You see spot option sees winners as being dangerous to their white labels because if the label is honest and pays there is the danger that Spotoption itself might no receive their money from the white label for technology hired, Yes the white labels either pay a fee every month to Spot for usage of the platform or they have to share profits according to volume or other agreements.So for Spot option it is in their interest that their white labels produce losers or that why they will never stop white labels from using their tech even though they are aware they are scammers.

    For your interest Spotoption was a broker before it became a technology provider. They are the real house here.
  • RCoombsRCoombs Posts: 10
    Bank De Binary was recently fined EUR 350,000 by CySec.
  • augieaugie Posts: 1
    (Stay away from lan baker from titantrade)

    I was conned for $40000 from Titantrade I moved on but found I am really
    angry, I sent them an email expressing my disappointment and asked that
    my account be closed, they replied with a whole lot of speel, when I
    have finished unloading my frustration here I will reply with a huge
    broadside and finish on saying that I have been veiwing articles said
    about Titantrade on Binary option watchdog which I have added a few not
    so pleasent comments myself.They got my account up to $15000 and said we are going to make some big
    money now, promised to make $30000 from this trade made only $2000My account is now $17000 they made 4 trades $5000, $5000, $5000, and
    $2000 all on gold I was told money in the bank lost all, funny thing is
    when I placed the trades on there recommendation the payout came up as
    zero on all previous trades you can see the payout amount if the trade
    was successful I ask amount this and they told me not to worry this is
    normal I thought ok you trust themTitantrade scammed me and I wish I knew about you guys before joiningCheers guys keep up the good work
  • OkaneOkane Posts: 1,279 admin
    That sucks augie. Yes TitanTrade is a scam and they are often involved with BS signal services and autotraders.
    Another lessons is, whichever the broker you are with, never let anyone else trade for you nor should you listen to
    people that work there. Just do your own thing. Are you still going to trade or are you done with binaries, considering
    that loss is so big...
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