Banc De Binary Is Shutting Down Its Business | Forex Factory

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Banc De Binary Is Shutting Down Its Business

  • #1
  • First Post: Jan 12, 2017 3:53am Jan 12, 2017 3:53am
One of the largest binary options brokers on the market, Banc De Binary, is shutting down its business and will no longer accept clients from the EU. (https://smnweekly.com/2017/01/09/banc-de-binary-closes-up-shop/) The reason for this was cited as the slew of terrible press they’ve been getting for the past months, caused by the multiple regulatory measures taken against them, including the US CTFC, which had them pay over $11 million dollars in a settlement because they were illegally targeting US clients.
  • #2
  • Jan 14, 2017 2:56am Jan 14, 2017 2:56am
I would like to think that I am partly responsible.
  • #3
  • Jan 14, 2017 3:21am Jan 14, 2017 3:21am
Quoting Mingary
I would like to think that I am partly responsible.
well done
people leave, but this thread will go on for ever
  • #4
  • Jan 16, 2017 3:39am Jan 16, 2017 3:39am
There is trouble. I have money with them and they are not wiring money to my country. They advised me to open account in another country. This is not easy for me. What can I do
  • #5
  • Jan 16, 2017 5:11am Jan 16, 2017 5:11am
After the announcement that Banc De Binary is closing up shop now CySEC is announcing that theyre giving up their Cyprus license and theyre going to be unregulated. (http://www.forexbrokerz.com/news/Its-official-Banc-De-Binary-renounces-Cyprus-license) According to the announcement the license for one of their main websites lapses as of January 15, 2017. Banc De Binary, however, remains under the CySEC supervision until it settles its obligations arising from the investment services or/and activities that will lapse.
  • #6
  • Jan 18, 2017 8:32am Jan 18, 2017 8:32am
I was just checking about them and I can see it’s very clear that they were having difficult time, so this is a good move as it will save people from losing their money. But maybe they will come back in another shape.
  • #7
  • Jan 18, 2017 9:38am Jan 18, 2017 9:38am
Quoting VirginaFaict
I was just checking about them and I can see its very clear that they were having difficult time, so this is a good move as it will save people from losing their money. But maybe they will come back in another shape.
Holy land is never empty
  • #8
  • Jan 18, 2017 9:48am Jan 18, 2017 9:48am
Quoting mlawson71
One of the largest binary options brokers on the market, Banc De Binary, is shutting down its business and will no longer accept clients from the EU. (https://smnweekly.com/2017/01/09/banc-de-binary-closes-up-shop/) The reason for this was cited as the slew of terrible press theyve been getting for the past months, caused by the multiple regulatory measures taken against them, including the US CTFC, which had them pay over $11 million dollars in a settlement because they were illegally targeting US clients.
Yeah they was massively bullied at news media especially to raise awareness among UK and EU citizens about potential risk of playing casino with unregulated and shady Binary Options.
Rivals are happy as dedicated client base will search for other options of where to gamble during their spare time
  • #9
  • Jan 18, 2017 9:54am Jan 18, 2017 9:54am
They were borderlining it with calling themselfs "banc" alone. You cant call yourself a bank without having a banking license.
  • #10
  • Jan 24, 2017 12:51pm Jan 24, 2017 12:51pm
A shame to hear to they are shutting down.
  • #11
  • Jan 30, 2017 6:49am Jan 30, 2017 6:49am
France’s financial regulatory body, the Autorite des Marches Financiers (AMF), issued a notice in which it advises clients of no-longer licensed binary options broker Banc de Binary to cease business with it as soon as possible. (https://smnweekly.com/2017/01/27/france-statement-banc-de-binary-clients/) Traders should contact the broker immediately and seek to get their funds back and terminate all operations, according to the watchdog.

I think people should've started doing that the moment the broker said they're shutting down, but it's a good thing to have a warning by a regulator.
  • #12
  • Jan 31, 2017 12:56pm Jan 31, 2017 12:56pm
It looks like i have had an account shortly with them i was probably trying to learn binary option and forget about it. I get an email about an withadrawal and they ask for iban and bic and full adress of me and my bank to be able to withdraw. First i thout it was a scam but it seems i have some money with them. Is it safe to give this out to them ? to try to get my money withdrawn ?

Best regards
  • #13
  • Last Post: Feb 1, 2017 1:32pm Feb 1, 2017 1:32pm
Quoting garbott
A shame to hear to they are shutting down.
I guess they already had a lot of complaints and lets hope that this shut down might be the end of scammers from forex/binary trading industry.
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