August 26, 2015 at 7:54 pm
Hi guys & girls,
So I opened an account with BDB/Banc De Binary a few months ago. I made a $20k deposit, not planning on taking a bonus or anything that could potentially lock my funds in. Just to put it out there, I do have a StockPair account and I am super happy with them. Anyway… Unfortunately, my account manager, “supposedly” having my best interest at heart, convinced me to take a 100% Bonus. He made it sound so easy to achieve the volume…. explained a whole long script that they read you etc. I said no, but he kind of forced me into taking it. I guess this is partly my fault as well as I should have said NO and stuck to my decision. But he forcefully forced it onto me so to speak for better lack of words. So getting back to the point. I still have $60k in volume to go and to top it all off my balance is down to only $20k.
Does anybody know a way to get out of this bonus terms using a legal matter or a fault in their terms and conditions? According to them, I cannot withdraw a single cent until the volume is met. Maybe someone knows of an auto trader or trade copier that can assist in doing trades for me alongside my manual trading? It is important that the service is profitable of course as well as there is no use my balance keeps declining.
Any advice, help or feedback would be much appreciated!
Thanks in advance,
August 26, 2015 at 8:17 pm
Looks like you got fooled, tricked, convinced, brainwashed etc. by a very convincing salesman, aka account manager.
I’d just want to link to this forum post made by Alex – Bonus Funds – What You Need To Know I think that might give you some tips and advice. He mentions about making a “charge back”. Maybe you can look into that? If they did not make you sign any forms accepting the Bonus or did not make you aware of the terms you might just get away with doing a chargeback. Who knows? Give it a go 🙂 Maybe seek legal advice from an attorney. That is my 2cents worth mate.
Hope it was helpful or hopefully someone else that has been in this situation can give their feedback.
August 26, 2015 at 8:25 pm
Hey, sad story to read! I am still new to this whole binary options thing, yet I learned something valuable reading your post!
NEVER TAKE A BONUS
So thanks to you speaking up and discussing this you not only helped me, but others as well to not make the same mistake!
Good Luck & Hope things work out for you in regards to the volume or getting your money back!
August 27, 2015 at 11:44 am
Sorry to hear that Kenneth.. I feel your pain.
These account managers are so good convincing you about a load of crap. I have also fallen into this trap once, but it was only $2500. I can only imagine how it must feel like with $20k. The only thing you can do now is to just ride it out and trade the left over volume if you can’t get a chargeback. Do not rush things. trade how you would normally trade.
August 27, 2015 at 11:49 am
Stories like these are never good to hear. It gives this industry such a bad name! Makes my spine crawl. May this be a lesson for you and the rest of us. Rather spread your money out accros different brokers in case something like this happens.
Wish we could help you fellow. Hope you come right
August 27, 2015 at 2:39 pm
I agree that this should be a lesson to all… But I do not agree that one should spread your risk by having multiple broker accounts! That is one of the biggest mistakes. It is a BIG NO! This can be avoided by simply choosing the correct broker in the first place after doing some due-diligence, reading reviews, searching forums and most importantly reading the broker terms and conditions. Even better – DO NOT ACCEPT A BONUS all together!
That is just my opinion based on my experience.
August 27, 2015 at 9:09 pm
Thanks for lifting your opinion. This is just what I found works for me. I trade larger sizes than the most binary options traders. I don’t feel comfortable leaving big sums of money in one broker account for many reasons. This is why I spread out my account accross different brokers.
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