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