Overview of the banc de binary platform
A company official announced on January 9, that the company would be closing because of "consistently negative press" coverage. The firm remains under supervision by CySEC regarding previously incurred obligations and the formal closing of the firm. The Times of Israel reported that some industry insiders were skeptical that Banc De Binary was really closing, but was rather relocating and changing its name. The CFTC warned more generally of "fraudulent schemes involving binary options and their trading platforms".
District Court for the District of Nevada to prevent and freeze any further trading with U. Banc De Binary at first refused to appear in court in the United States for depositions. Despite this, Banc de Binary was brought to trial in Nevada.
This followed an earlier hearing where in the absence of any representation from Banc De Binary, charges were filed via email and by post. Binary trading in the United States is legal, but it needs to be done through properly registered and regulated exchanges such as NADEX.
In response to the U. Refunds are being handled by the National Futures Association as court-appointed monitor. They allegedly impersonated SEC employees promising to help victims of Banc De Binary's scams obtain repayment of lost funds. On 7 April CySec announced that they had fined Banc De Binary 10, euros after it had 'concealed material information in its request for authorization CIF submitted to the commission in August , namely concealed the existence of close links between it and another company'.
In the UK, Daily Mail newspaper journalist Tony Hetherington reported allegations that Banc De Binary withdrew funds from the accounts of two clients without authorization. Banc De Binary has since denied any wrongdoing. The BBB report also wrote that the "site essentially allows investors to gamble on the future price of something at a point in time". In Canada , it is listed on the Ontario Securities Commission 's Investors Warning List of "companies that appear to be engaging in activities that may pose a risk to investors".
The AMF also pointed out that, due to the "all or nothing" nature of binary options, an investor who wrongly predicts market movement will lose his entire investment. The AMF also, like the CFTC, included a more general warning about the risk of fraud in binary options trading in the same press release. From Wikipedia, the free encyclopedia.
Banc De Binary Type. Retrieved January 12, Retrieved February 2, Banc De Binary to Close Down". Archived from the original on January 9, Retrieved January 9, Archived from the original on January 13, Retrieved January 10, Retrieved January 11, This advice can often lead to large deposits, and pressure on the client to trade beyond their means.
It very rarely ends up profitable for the trader — much the opposite. Never let anyone else trade on your behalf. Banc de binary offer a free mobile trading app. The app is available on iOS iPhone and iPad and android. The trading area appears more or less the same as it does on the web based platform. A responsive design means the charts display well regardless of the device used. Account management features are also available on the app.
Payouts will vary depending on the asset and the expiry time of the trade. The percentage may also move depending on trade volume. Deposits at Banc de Binary are secure and robust. There is a deposit option on the right of the login area, visible once a user logs in. Once confirmed, deposits are available to trade immediately. There are a variety of deposit methods to choose from — credit card, bank wire transfer international or domestic and Skrill.
Any withdrawals are generally returned via the same route that a deposit was made. This is a common policy throughout binary options brokers, and is a measure against laundering.
The broker will always require some proof of identity before authorising any withdrawal, again this policy is fairly common with binary firms. Both documents will need to show the address of the trader. Once received, withdrawals will then become. Where the trade is not covered on both sides, BdB will effectively only profit when the trade loses. Your financial bet is placed with the market at large, and the global financial market and your know-how will decide your success.
If you want insurance, invest in a house. Whatever their reasoning, they make up for their lack of compassion to the play-it-safe binary options trader by providing above average decent returns on your successful financial bets.
You are comfortable with their trading platform and want to get started. The more you deposit however, the higher your value to Banc de Binary, and the more benefits you receive. Deposits can be completed via bank wire transfer, credit card, third-party credit card, and Skrill Moneybookers , with deposits being received no longer than 5 business days depending on the method.
US dollars and Euros are the only currency types accepted. These are usually processed within 2 business day via the depositing method. The usual fraud checks will need to be passed upon first withdrawal proof of identity — but otherwise a painless and easy process. Banc de Binary go all out to let you get in touch with them about any queries you have. With phone, email, live chat, even skype We tested the Live Chat and found the service quick, reliable and efficient, even if opening a new tab in the browser is a little annoying, but hardly a deal breaker.
The Banc De Binary mobile trading app for both Android and iPhone users gives you the opportunity to trade quickly and easily on the go. Some of the benefits of using their native mobile platforms are that you can deposit funds on the move, live trading charts of available binary options, view a history of expired options and easily open and close your trades.
Along with this you get help and support and all the features that the desktop website offers. Powered by SpotOption, expect all the ease Banc de Binary's internet-based no download trading platform provides.