Banc De Binary closed

Big news is the binary options industry: Banc De Binary is about to shut down. The company decided to close the binary options broker.

Banc De Binary was one of the first binary options brokers, however they never had a positive image. Banc De Binary has been fined by Cysec in the past (the fine was €350.000) and they also faced several lawsuits.

The company also had to pay $11 million to the US for accepting US customers a few years ago. The founder of BancDeBinary had to pay $150,000 in addition to the fines mentioned previously.

FinanceMagnates says that an insider confirmed the news. The insider said:

“Its just not worth the tarnished reputation. I don’t see how we can continue operating under such scrutiny and public image.”

According to the same site, all arrangements have been made to stop accepting new traders.

signupWe tried registering an account on their website and all we get is this message: Selected country is blocked. We tried it with several countries from the list.

The same insider concluded:

“All client funds are being sent back to their original source. We’re just waiting for the official announcement from the board to begin the process. They are literally about to kill a five hundred million dollar company, but even worse – the icon of the binary option industry,”

We recommend you to withdraw all your funds as soon as possible. It would not be the first time when such a company disappears from one day to another without paying back the deposits.

UPDATE: This is the email all affiliates got today:

As you know, after much deliberation, BDB Group’s management has decided to cease its online activity effective as of January, 15th 2017. That means we are starting by shutting down our affiliation program immediately.

Let me reassure you that you will be paid in full for your services up until the 15th of January 2017.

> Most trusted binary options broker: At the momet IQ Option is the most trusted broker. Read the review here.

What do you think about this? Leave a comment below and tell us your experiences with Banc De Binary.

Page Updated: January 16, 2017

7 thoughts on “Banc De Binary closed

  1. Some people say this is a step back in the binary options industry. I say that the less black sheep we have, the better. What do you think?

  2. This is a step forward in binary options. BDB is one of the worst scams in the industry; anyone who has spent time in it will know. Once these bucketshops are shut down, demand will go elsewhere, better more regulated brokers. They do exist, just sadly BDB is on every google page.

  3. Thanks for the article. i have to admit that I was a little surprised. Let’s face it- there is surely more to this than meets the eye? Frankly the whole Binary Options industry is pasted with bad and negative reviews because so many “traders” fall for these obviously awful scams. However, I have a feeling that BdB can’t financially keep themselves afloat- the brokerage market is booming- traders have a big choice- and review sites are so common. Overall, I agree with Larry- trading options and/or binary options is a brilliant profession, very challenging and equally rewarding- the less negativity with more truthful and genuine traders/ brokers, the better!

  4. actually i have one bad experience with this banc de binary because they are closing and they just took the money .
    we knows they are giving bonus and they have some policie and they took his money , but that one is in case the trader ( me ) wants to make a scam with them . but my case is totally different because they’re closing and they are stopping the trading. so I joined and started to trade from dicember 28 until january 9 and then on 11 on january they starting to close so when i asked about my money they just said from u account 2427.11 usd u will have only 277.11 because there is no to much time to trading (from 28 on december 2016 until 9 on january 2017 ) and they said because the bonus and enough time to trade!
    but really how they said that!!! they are the one who not give me time to trading more and even that they are closing .
    and gave me only 277.11 from my 21500usd

  5. Hi, I have a large amount due to me after their closure.
    I made withdrawal requests immediately thereafter but am still waiting for payment.
    Do you believe Banc de Binary will honour this?

    Many thanks,

    Mario

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