Banc de Binary

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Banc De Binary

Banc de Binary have closed and are no longer trading. This broker is no longer accepting new customers.

The sales method known as “upselling” has ultimately damaged their reputation and business. Brokers operating similar models will hopefully take heed and provide higher levels of customer service in order to run sustainable operations.

Return to the broker comparison table to search for an alternative broker.

Banc de binary ‘eu’ are one of the largest binary options brokers in the world. Their global brand name is what sets them apart from other rival trading brokers. They provide binary options in 180+ assets in over 30 countries. They cater for traders in more than 80 different countries around the world. Their mission statement is “simplicity pays“, and that tagline is central to the business.

Reviews

Banc de binary still pride themselves on their customer service, despite their growth since 2008. From one to one tuition to video tutorials and e-books, Banc de binary offer as much help as a trader requests. Complaints about the firm however, stem from account managers who encourage large deposits, and often over trade, or suggest clients to. As ever in binary options, it is always best to trade yourself. Never let anyone trade on your behalf.

Here are some of the other key details;

  • Demo Account – No
  • Bonus details – Up to 100%.
  • Minimum Deposit – $250
  • Minimum trade – $1
  • Signals service – Yes. This forms part of Silver or Gold account packages.
  • Mobile App – Yes. Android and iOS.

Trading platform

The Banc de Binary platform offers a fast, user-friendly method of trading options. Spot Option backed, the trading area delivers clear layout, all the key data can be easily found.
The top of the trading platform is where traders can select the asset, the expiry time they wish ti use, and the size of their trade. Updating these will change the price graph, and trading buttons with the up to date data for that asset and expiry. Changing the trade amount updates the ‘projected payout’ figure too.

Under the trade selection bar is the main price graph. This can be changed to reflect different time periods, with options of 30 minutes up to 12 hours offered. To the right are the trading buttons and key trade details. The current price, and payout, the expiry countdown and the call and put buttons (clearly marked). The trading area is very intuitive. The final feature is a trader sentiment bar

The trading platform provides a clean, organised area.

Who regulates Banc de Binary?

Banc de Binary are regulated by CySEC (License 188/13). They are also registered with a number of other organisation including the AML in France and the FCA in the UK. They are not regulated by those bodies however, merely registered with them, which is not the same thing. Any trader disputes would need to be taken up with CySec.

Trading range

The firm offer a good selection of binary option types.

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  • Binary Options – The traditional Up/Down options. Will the asset rise in value, or fall?
  • 60 Seconds – The 60 second options work in the same way as a standard binary option, but the expiry times are very short – 60 seconds or less.
  • Pairs – Which of two assets will rise in value most? The pairs of assets will generally be in the same asset category, for example Google versus Amazon, or Gold versus silver.
  • Long term – Long term options follow the same principals as standard binary options – but the expiry periods are over long time frames. Anything over ‘end of day’ expiries are classed as long term.

The assets lists are very big, and it is a clear strength of being a global brand. They also command a large share of trading volume, which means their large asset list is also available to trade. Some smaller brokers may list certain assets, but then not be able to open them due to a lack of volume

Complaints

When Banc de Binary generate complaints, it generally revolves around the practice of ‘upselling’. This is where an account manager from the firm, will contact a client and offer them advice. 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.

The brand offer a good trading platform and educational materials, but traders must beware of any account managers and ensure they take responsibility for their own trading. Never let anyone else trade on your behalf. As an ‘over the counter’ broker, there is a clear conflict of interest where anyone from the firm offers to trade for you.

Mobile

Banc de binary offer a free mobile trading app. Delivering full access to all areas of the full website, so traders can trade on the move and ensure no trading opportunities are missed.

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.

Live charts are also available via the mobile app, designed thoughtfully for smartphones and tablets. A responsive design means the charts display well regardless of the device used. Account management features are also available on the app.

The mobile app delivers a great user experience and is fully functional.

Payout Percentages

Returns are 86% on most options. Payouts will vary depending on the asset and the expiry time of the trade. The percentage may also move depending on trade volume. The returns on the more popular assets are good compared to their rivals. Payout comparison can sometimes prove difficult, but BdB do pay a fairly consistent level across all assets.

Withdrawals

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.

Withdrawals can be made anytime, but there is a minimum withdrawal figure of $50. The broker will always require some proof of identity before authorising any withdrawal, again this policy is fairly common with binary firms. These delays are sometimes the cause for disputes, so proof of ID is best sorted out as quickly as possible after opening an account.

Withdrawal authorisation will require;

  • A form of photo ID (driving license for example),
  • A recent utility bill.

Both documents will need to show the address of the trader. Once received, withdrawals will then become. When using a credit card to deposit funds, Banc de Binary need an image of the card (both sides). These steps are required by the regulator in order to protect traders, and to ensure their funds are separated and protected.

Withdrawals should be sent out in 5 working days. There is no charge or fee for any withdrawals. ‘Pending’ status withdrawals can also be cancelled, this is useful if funds are needed for trading again.

Account Benefits

Banc de Binary delivers these additional features and benefits:

  • International reach – Banc de Binary offers trading to over 100 countries, and lists assets from over 30.
  • 24/7 trading – Where markets are open, the trading platform will be open.
  • Loyalty rewards – The firm offer a number of loyalty rewards to regular traders after sign up.
  • Account Types – There are four levels of login account; Bronze, Silver, Gold and Lion Premium. Each level offers further benefits including gifts, trading alerts and private sessions with analysts.

How do they make money?

Banc de Binary offer ‘Over the counter’ binary options, and are the counter party to each trade. If they have traders on each side of any trade, they will profit regardless of the outcome due to the payout being less than 100% to the winner. Where the trade is not covered on both sides, BdB will effectively only profit when the trade loses.

Banc de Binary demo account?

At present Banc de Binary do not currently offer a demo account. They are one of only a few major brokers who do not offer such a service, so we hope they will reconsider this policy soon.

Are Banc de Binary a Scam?

While the brand is not a scam, the process of ‘upselling’ has damaged their reputation. This is where account managers contact clients in order to encourage larger deposits and more trades. This advice is generally not in the best interest of the trader.

This type of behaviour is rare, but traders should be aware of the risk, so that should they receive such a call, they can say “No thanks”.

The withdrawals and trading platform both generate very few complaints, so if the firm were able to stop this practise of upselling, their reputation could be restored.

BBinary.com (Banc De Binary) Review

SCAM CONFIRMATION

June 2020: Based on 3 Traders Court Guilty votes, charges filed by the CFTC, other regulatory warnings, the large number of complaints in the forums and reviews, and the attempted legal blackmail by the CEO, the FPA now considers Banc de Binary to be a Scam.

Banc de Binary is hereby blacklisted by the FPA. The FPA recommends against opening accounts with Banc de Binary. If you have an account there already, the FPA recommends you attempt to withdraw your funds immediately.

SCAM CONFIRMATION

January 2020: Cysec has fined Banc de Binary €350,000. CLICK HERE to verify.

May 2020: Banc de Binary Ltd / BDB Services Ltd added to ASICs list of unlicensed companies you should not deal with. CLICK HERE to verify.

May 2020: There is now a second FPA Traders Court Guilty vote against Banc de Binary.

May 2020: The CFTC amended it’s complaint against Banc De Binary and added charges against several related companies and the man in charge of BDB, Oren Laurent. CLICK HERE to verify.

April 2020: There is an FPA Traders Court Guilty vote against Banc de Binary.

Oren Laurent, CEO of Banc de Binary has threatened to sue the FPA over content of the forums and reviews. He wants to control what his unhappy clients are allowed to say about him and is willing to use legal blackmail to try to accomplish this.

June 2020: The CFTC filed charges against Banc de Binary. CLICK HERE to read more about this.

Banc de Binary is on the SEC’s PAUSE list. CLICK HERE to verify.

February 2020: Another spammer for Banc De Binary has visited the FPA’s forums. This one appears to have been hired from Pakistan.

The FPA recommends against dealing with companies that feel the need to advertise in this way.

May 2020: Banc De Binary spammed the FPA in from their headquarters in Israel. After talking to the CEO, the FPA initially agreed to remove warnings from this review page based on his personal assurance that there would be no further incidents. Since more incidents happened, the warning is back.

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Consumer Reviews

Do NOT open any account with Banc De Binary.

Hi. name name is Choon Seong Low and I have been scammed by Banc De Binary.

Can anyone help me to get back my money?

The account manager David Levy kept asking me to put in more and more money. Enticing me with free bonuses. He never answer my questions on how things work. He just gambles (maximum bet each time) with my money for his personal gain and lost all my money USD10k within 1 week. He then continue to ask me to put in more money.

Kindly revert. It’s my hard earned money and I lost all the money I gave them in less than 1 week.

Sincerely
CS Low

Hi,
I got registered into Banc de Binary (BDB) in the month of June 2020 and my account number in BDB is 9/0001516434 and the account manager name is Ryan Hawkings (may not be his name) and I have been trading or thinking that I was trading for few months now. I have invested 15,000 USD in this account and things were fine till I asked for withdrawal.

My account was at 78,000 USD and suddenly in a matter of few hours my account was 250 USD and I’m sure this is done for asking withdrawal. I was promised to take out 50,000 USD by end of October 2020.
Now, the account manager calls up and ask me to fund another 10,000 USD if I want to recover the rest of my money or else I lose all the money I invested and I’m in no position to get more money now and I feel I was tricked and cheated with their manipulated trading software.

I have reached out to the Financial Ombudsman Office.

Request you to guide me on further action and get back my money

I have been scammed by Banc De Binary in early June 2020. Made me deposit close to 4k USD. Asked me signed a bonus agreement. Started trading for a few days, grew to 16k. I asked them to stop & I wanted to withdraw the full amount but scumbag broker by the name of Isaac said no problem, he can do it for me & can make that withdrawal arrive into my bank account faster. In the end he only withdrew for me 100USD which did arrive to my bank in 3 working days tops. He asked me to continue trading with him as he can push me to be in the platinum account but not without asking to deposit more money. I said I have no more & he understood hence, the next day, that final day I will ever hear from him. He asked me to open up some reckless trades & all of em to be double up in which all are losses. My emails & calls got ignored or unanswered. I feel so foolish right now because prior to discovering this forum & learning from all the other victim’s stories.

Resolved

My dispute with Banc de Binary is resolved.

They refunded whole amount of money i deposited.

Sep 2, 2020 – 1 Star Big scam -7k$ defrauded
I never in my life felt so stupid.
Fake names, many lies, and i believed in that.

I have always had an interest in share market and forex trading so when I came across BANC-DE-BINARY decided to do a bit of homework and got excited at the thought of earning a little amount of extra income on the side it was only going to be a small investment of $250.00 which is their recommended starting investment. So I signed up online and received a call within 15mins of signing. A very confident account manager called Andy Miller talked me through the processes and the trading platform and how it all worked by this stage my confidence in Andy is right where he wants me. He then proceeds to email appropriate paperwork (to cover themselves) with a declaration for me to sign to say that I have given them authority to take money from my credit card, they also require a photocopy of my drivers license, a copy of a utility account, and a photocopy of my credit card ( with important info covered up). He quickly shows me how fast the money can be reclaimed from the platform by asking me to credit back $100.00 from the first $250, back to my credit card (this appeared back on my credit card the next day) Wow what a system. Andy then talks about their bonus system, to which BANC-DE-BINARY match what you put in, if you invest more money. Andy wants me to be be a “Premium” member minimum. ($10,000USD) investment. He convinces me that if I really want to move steady I’d need to put in $5000USD which with their bonus give me $10300.00USD to trade with. Unfortunately each investment you make needs to go through compliance so again all docs needs to be sent through again I sign a declaration and copies as per previous. Next day still no trading compliance not complete then it’s Friday evening, Andy calls to tell me that we can go live and trade.

Jump online put your money on these 7 trades and I’ll call you on Monday. (I

nvested $4000USD) 40 mins later (profited 2995.00USD). Winning 6 of the 7 of trades. Well at this point Andy has my attention and knows what he’s doing as 6 out of 7 is pretty amazing odds and BANC-DE-BINARY’S Signal system is pretty spot on. On Monday we trade some more with the same results winning 5 of 7 still great odds. He’s got me reeled in now. So with my $5000USD Investment I’m sitting on $15000.00 profit. Andy has shown me what is possible now he wants more of an investment from me. Even though there’s now $20k in the kitty. I can possibly scrape a little more together and tell him that it’s got to come from my business the next day he’s taking my CC details down whilst having a very casual conversation with me I tell him I can only do $3500USD Which he does he then proceeds to tell me he’s going to try for another $1000.00 I say no but it’s already underway. The transaction has been cleared. So I have no choice. So we trade some more and make more. I then mention that I want to pull some of the profits out. As we have a nice sum of (at that point) $31000.00USD. Andy Then says no problem, but let’s trade some more. Six trades later we are down to $21000.00. He than pushes me to invest more money at which point I say No I have no more money to put in at all. Zero. Ok let’s trade some more. He sets me up with 5 more trades to FAIL. BOOM, it’s all gone. He’s got what he wants out of me he knows he can’t get anymore. He then tells me to go to my bank and get a loan. Go to my credit card and get an extension. He won’t take no for an answer. He then goes away and calls me an hour later to say that his manager has got $2500.00 for me to try and recover my loss. So he sets me up with a block of trades and they all fail as well. As he is telling me to place these trades the market is moving in the opposite direction while he’s telling me to place the trades. Keep going keep going he says. UNBELIEVABLE.

2 days ago a get a call from a new BANC-DE-BINARY account manager Mr Paul Harris (If thats his real name) wanting me to invest more to recover my account. I argued with him to which he absolutely denied all my accusations so I hung up on him.

I know that my loss is very small in comparison to some, but nevertheless its still money Ive worked hard for and these Leaches have no prejudice as to whom they rip off

For those innocent, hard working individuals out there, that are considering, or have already donated your money to these scam artists you may be interested to know That BANC-DE-BINARY actually operates out of ISRAEL and that their address is 36 Tuval st Ramat Gan

I also have the name of the owner should anyone need it for their investigations.

I am also happy to assist with information to aid any legal action taken against BANC-DE-BINARY

Banc De Binary – Honest Review

Banc De Binary

  • Does not allow US traders to register an account.

Banc De Binary was founded in 2009 and has won multiple awards. BDBinary is known as the leader in the binary options market. It is an online platform that does not require any downloading onto your device. Their platform is mobile and tablet friendly, but we have to say that it is a bit slower than other platforms.

However, this review is not worth much, since BDB has been shut down by it’s founder.

Banc de Binary Platform

The platform that banc de binary uses is similar to other brokers’, for example, BDSwiss operates on the same platform. They offer high-low options trading, trading pairs, short and long term trading. Nothing fancy but it is enough for regular binary options trading.

We have to admit that their platform might come across as rather slow compared to other brokers, but it definitely is worth the wait. Minimum trade size is only $1 which makes bdbinary a great company to start with if you’re new to the business.

This is what banc de binary’s platform looks like

Account types at Banc de Binary

Types of accounts (click to enlarge)

There are several account types depending on how much the trader wants to deposit and invest. The account types are called Bronze, Silver, and Gold.

  • The Bronze account has access to the 190 trade-able assets of the company, reviews, lots of webinars, daily marketing access to training, and starts with depositing $ 250 or more.
  • Silver accounts have everything the previous account type and start with $2 500. Also, you will get loyalty gifts, trading alerts and events, direct access to your account manager for 10 days and a trading central access for 1 month.
  • The Gold starts with depositing $ 5 000. The access to the trading central is prolonged for 3, you get your very own account manager, and the money management smart plan.

Banc de Binary Demo Account

Banc de Binary offers a demo account (learn more) with $ 50 000 for trading. You will get access to the demo account as soon as you make your first deposit of $ 250 or more. Then after talking to the live-support, your demo account is opened and you have an unlimited access to it.

However, if you do not wish to fund your account before you can even try binary options trading, you can find a demo account free of charge on our website. Click this link to start. Binary Options Demo

Depositing into your account

You do not need to make a deposit when you register an account. You can simply register and research more about the accounts and get to use the full website. But in order to make trades on the platform, you will need to deposit funds into the account. The minimum deposit amount is $ 250 (or 250 €) The minimum amount for placing a trade is $1

Deposits can be made using visa, master card, skrill, wire transfer, and some alternative deposit methods may be used if you ask your account manager.

Banc de Binary Bonus

Banc de Binary has some great bonuses. Like other binary trading companies, it all depends on how much the trader deposits. Some high account holders can get a signup bonus of up to a 100%, which doubles their money before they have even started to trade! The broker Banc de Binary also offers a 3-risk-free trades bonus for all clients who sign up.

Another bonus is the referral sign up bonus when they refer a friend or someone to Banc de Binary to open an account they get a bonus in their account. Traders can also earn bonuses from event specials randomly. Bonuses are great ways to get “free money” to trade with. It is fast and easy to deposit funds into whatever account you have.

Withdrawing Funds from Banc de Binary

Withdrawals of funds from your binary trading account are just as easy as depositing. You can use your credit card, bank wire transfer or e-wallet, but other alternative options are available as well. There is a minimum withdrawal amount of $50. No fees are applied when withdrawing.

Banc De Binary Pros

  • Excellent returns
  • User friendly interface platform
  • Good variety of over 190 assets
  • Small investment minimum options

Banc De Binary Cons

  • Does not allow US traders to register an account.

Banc De Binary – Review author

More about the author Step

I’ve wanted to build a business of some kind and earn money since I was in middle school. I wasn’t very successful though until my senior year in highschool, when I finally started to think about doing online business. Nowadays I profitably trade binary options full-time and thus gladly share my experiences with you. More posts by this author

Banc De Binary Details

✅ Broker Banc De Binary
✅ Website URL https://bancdebinary.com/
✅ Founded 2009
✅ Headquarters Cyprus
✅ Support Number [email protected]
✅ Support Types Live Chat, Skype, Email, Phone
✅ Languages English, Arabic, French, German, Italian, Russian, Spanish, Portuguese
✅ Trading Platform SpotOption
✅ Minimum 1st Deposit $250
✅ Minimum Trade Amount $1
✅ Maximum Trade Amount $8,000
✅ Bonus 100% Introductory Bonus
✅ Payout 91%*
✅ Free Demo Account
✅ Regulated
✅ Regulation CySec, FCA
✅ Account Types Bronze, Silver, Gold, Premium, Platinum, Exlusive
✅ Deposit Methods Visa, Mastercard, Wire Transfer, Skrill (MoneyBookers)
✅ Withdrawal Methods Wire Transfer, Skrill (Moneybookers), Debit/Credit Card
✅ Trading Methods Call and Put Options, One Touch, 60 Second Options, Pairs
✅ Number of Assets 80
✅ Expiry Times 60sec, 15min, 30min, 1hr, 24hr, weekly
✅ Types of Assets Forex, Commodities, Stocks, Indices
✅ Option Types Long-Term, Short-Term, Exotic
✅ Trading Currency USD, EUR
✅ Account Currency USD, EUR
✅ US Traders Allowed
✅ Mobile Trading
✅ Tablet Trading
✅ Overall Score

Show recommended brokers

10 Responses to “Banc De Binary – Honest Review”

Be very careful with these fake binary options brokers, they are the best at taking your money but also making sure you never see it again.

Hello, thank you for sharing your thoughts, but this broker doesn’t exist anymore.

Outstanding post, I think website owners should acquire a lot from this web blog its really user pleasant.
So much excellent info on here :D.

Thank you so much for your comment. We really appreciate your feedback.

Is banc de binary scam or not? I thought it was

Technically – No, not at all. A year ago, though, they have received a fine for accepting US traders. That was against the law, since they did not have a permission to do so.

Oh alright. I have heard they were a scam as well, idk

Banc de Binary might be a bit slower than other websites but it’s definitely the best broker around. With such a name and so many client’s they can’t do anything wrong – it would make them go bankrupt..

So is Banc de Binary open also for clients in EU?

Hi George, yes, Banc de Binary accepts clients from EU. More info here: Banc de Binary EU clients

Giambrone’s Binary Options Trading Litigation team has received a considerable number of complaints from international investors regarding Banc de Binary, a binary options broker founded by Oren Shabat Laurent, an American/Israeli citizen who lives in Tel Aviv. Mr.Laurent is permanently barred from doing business in the United States or with any US citizen.

Giambrone’s Forex and Binary Options litigation team is currently investigating the complaints against Banc de Binary relating to fraudulent binary options trading. Banc de Binary is a Cypriot and Israeli investment firm trading in binary options together with ET Binary Options Ltd, BO Systems Ltd and BDB Services Ltd. Giambrone is contacting investors and traders who have lost funds with Banc De Binary and offering an immediate review of their matter.

In view of the large number of complaints already received, our lawyers have already reported these complaints to the Commodity and Futures Trading Commission, (CFTC), the European Securities and Markets Authority, the Cyprus Securities and Exchange Commission, the Israel Securities Authority, the Ontario Securities Commission, the Swiss Financial Market Supervisory Authority, the Securities Commission in Italy (CONSOB), the Australian watchdog ASIC, the New Zealand watchdog FMA as well as the U.K. Financial Conduct Authority pursuant to the recent “Memorandum of Understanding on the cooperation and exchange of Information” between the USA and Europe.

We expect that these authorities will fulfil their respective regulatory mandates in the context of supervising Banc De Binary internationally, particularly in the areas of protecting customers, fostering the integrity of and maintaining confidence in financial markets and to reduce systemic risk across the binary options industry.

Banc de Binary has been included in the crackdown of hundreds of brokers by multiple regulatory bodies and has received warnings and fines but no regulator has ever officially branded them as perpetrating a scam or conducting a fraud. Whilst our investigations are still ongoing, there are various areas of concern which may be used by clients as grounds to issue legal proceedings against Banc De Binary before an English or Cypriot court:

  • Banc De Binary acts as the counterparty to their customers’ binary options transactions on a variety of assets, including commodities (e.g., wheat, oil, gold, platinum, sugar, coffee, corn, etc.), Forex pairs (e.g., EUR/USD, GBP/USD, USD/JPY, etc.), and stock indices (e.g., S&P 500 and NASDAQ futures).
  • The customers may not be eligible contract participants as they may be retail customers.
  • In relation to customers based in various jurisdictions such as the USA, Canada and Australia, these binary options transactions promoted by Banc de Binary violate federal laws prohibiting the trading of options off-exchange

Through its websites, Banc de Binary customers buy or sell binary “call” or “put” options that allow them to predict whether the price of a certain “asset” will go “up” or “down” at a future date and/or time, with a specified payout structure.

According to Banc de Binary’s European website www. eu.bancdebinary.com, the organisation is owned and operated by Banc De Binary Ltd., a company regulated since January 2020 by the Cyprus Securities and Exchange Commission (Cysec) and it is fully authorised as a credit/financial institution to undertake business in the UK and as an “authorised service provider” in Europe in accordance with the Markets in Financial Instruments Directive (MiFID) by the Financial Conduct Authority (FCA). The documents filed at Companies House identify one of its directors is a Mr Yehezkel Shabat, who is also an Israeli citizen resident in Tel Aviv.

The other domain www.bancdebinary.com is owned and operated by Ash Ltd (registered in St Vincent in the Caribbean) and its affiliated company Aster Services Ltd. in Bulgaria which also acts as a payment processor. We refer to these companies collectively as “Banc de Binary” as they both conduct business internationally through this brand.

History of Banc de Binary regulatory breaches

In May 2020, Banc De Binary Ltd. was also incorporated in the UK to provide “market research and brand promotion in the UK”. Its address at 1 King Street, London, EC2V 8AU, like its New York City address at the Trump Tower, is a virtual office with no physical staff presence.

In June 2020, Banc de Binary was charged by both the CFTC and the USA Securities and Exchange Commission (SEC) for alleged violations of US financial regulations and, one month later, the SEC obtained a preliminary injunction from the U.S. District Court in the District of Nevada to prevent and freeze any further trading with US customers.

In August 2020, charges were filed in the US stating that Banc De Binary “may be criminally liable under the federal RICO statute” Racketeer Influenced and Corrupt Organisations Act. In these US civil suits, the SEC and CFTC alleged that Banc de Binary offered off-exchange trading options to US customers and unlawfully solicited US customers to buy and sell options, and furthermore, that the company also failed to complete credit checks on customers to ensure that those with low finances did not trade with them.

In April 2020 CySEC imposed an administrative fine of €10,000 for breach Article 139(2) of the Investment Services and Activities and Regulated Markets Law of 2007 after it found that Banc de Binary had “concealed material information in its request for authorisation, namely concealed the existence of close links between it and another company”.

In March 2020, a US federal Court ordered Banc de Binary Ltd., ET Binary Options Ltd., BO Systems Ltd., BDB Services Ltd. (collectively, Banc De Binary) and Oren Shabat Laurent to pay More than $9 million in restitution and a civil monetary penalty to U.S. customers who traded the illegal, off-exchange options offered and for violating the CFTC’s Ban on Trading Binary Options Off-Exchange. The Order also imposed a permanent ban on offering or trading any further off-exchange binary options to U.S. customers.

In October 2020, the International Financial Services Commission of Belize issued a public notice on its website confirming that Banc De Binary and BDB Services (Belize) Limited with its registered office at No. 5 Cork Street, Belize City, Belize, C.A. were no longer licensed by the IFSC due to non-compliance to some conditions of the original licence granted for ‘Trading in financial and commodity-based derivative instruments and other securities’.

The swift decisive action delivered by the American regulators, SEC and CFTC, is an example to the financial watchdogs around the world.

Giambrone will continue to fight vigorously for the protection of customers and to ensure the wrongdoers are held accountable.

If you are a victim of Banc De Binary and have lost funds with this binary options broker, please click here to arrange a discussion with a lawyer in the Binary Options Litigation team.

Our international lawyers are able to provide assistance in English, French, Spanish, German and Arabic.

We’ll only use this information to handle your enquiry and we won’t share it with any third parties. For more details see our Privacy Policy

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