News – Banc De Binary Decides to Shut Down!

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News – Banc De Binary Decides to Shut Down!

News – Banc De Binary Decides to Shut Down!

Banc De Binary Decides to Shut Down after a long period of having issues with regulators and authorities worldwide. That, in addition to all the thousands of complaints coming from their own clients is finally putting an end to the firm once and for all.

Banc De Binary is… or rather was one of the oldest and biggest binary options brokers in the industry which started in 2009. They were also regulated by CySec and the FCA but despite the regulations, they were not playing by the book.

CySec has already fined Banc De Binary

CySec has already fined Banc De Binary several times for various reasons such as misleading the regulator, violation of investment firm laws, solicitation of American clients, offering unapproved services, misleading advertisement, unfair bonus terms and the list goes on and on.

Each time, Banc De Binary paid their fines but continued to operate like before until they were slapped with the next fine. The biggest and probably what finally led to their demise was the 11 million dollar settlement last year in 2020 when the U.S regulator CFTC together with CySec fined BDB. This, due to their solicitation of US clients during the period which they were banned from offering their services in the US.

“Not worth the tarnished reputation”

Financemagnates.com, who were first to uncover BDB’s plans on shutting down, quoted a BDB official saying; “It’s become the wild west in the past few months,” its just not worth the tarnished reputation. I don’t see how we can continue operating under such scrutiny and public image.”
In addition, the sponsorship deal between BDB and Southapton FC got cancelled last autumn which according to Financemagnates was also a sign of issues for the brokerage.

Since there are no other sources for further confirmation of this news, we also tried to look up Banc De Binary’s traffic and found out that it has indeed dropped significantly in the past few months which also indicates that they are cutting down on their advertisements altogether.

“We Are Still Here and Working”

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“We Are Still Here and Working” – claimed a Banc De Binary representative when we reached out to Banc De Binary’s. At first, we were told that it was okay to create an account and make a deposit!
Upon bringing up the rumors of the firm shutting down, the broker support said: “this is not official”.
One could wonder why Banc De Binary still allows depositors while they are in the process of closing.
Of course, we have experienced similar behaviors in the past from other brokers closing down whom also accepted depositors to the last minute before shutting down and vanishing without a trace.
Therefore, we would recommend our users not to open any accounts with BDB and if you already have, make sure to request a withdrawal as soon as possible.

Breaking: What to expect after Banc de Binary shut down?

Will Banc de Binary shut down its operations? Industry media reports claim that one of the biggest binary options brokerages is closing down the doors. Has the news been confirmed by the broker?

10 January, AtoZForex – Banc de Binary, the leading binary options trading provider, as the firm calls itself, is reportedly shutting down its operations. According to media reports, one of the largest global providers is leaving the Binary Options industry. Is it true what the online sources have reported?

Will Banc de Binary shut down?

Online reports claim that a high-level official at the Banc de Binary confirmed the news. The person has explained that such decision was taken by the owners of the firm. Company’s authorities decided on shutting down the operations due to the amount of negative press around the company, according to reports. Moreover, the official from Banc de Binary stated:

“It’s become the wild west in the past few months. It is just not worth the tarnished reputation. I don’t see how we can continue operating under such scrutiny and public image.”

Moreover, reports say that the broker official from the firm stated that all preparations to stop accepting new clients took place. As the media reports claim, the broker official also commented:

“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 options industry.”

AtoZForex side of the story

Following the media reports about the finish of Banc de Binary operations, I have reached out to the broker multiple times. When asked to transfer my call to someone from Marketing/PR/Compliance departments, the operators refused to connect me with the departments.

Also, the operators could not confirm any of the reported news. Instead, they informed me that “very soon” more information about the alleged shut down will be announced on the website of Banc de Binary. We will update you as soon as we will be able to get any official information from the company.

Giambrone prepares a litigation against Banc de Binary

Earlier in March 2020, US authorities ordered Banc de Binary Ltd., ET Binary Options Ltd., BO Systems Ltd., BDB Services Ltd. and its owner Oren Shabat Laurent to compensate $9 million to the US-based.

Now, at the start of the new year, it is likely that Banc de Binary faces new lawsuit. Giambrone, the law firm with the main office in London, is preparing a class action against Banc de Binary.

Stay tuned, we will update you on the matter as soon as we get the official information from Banc de Binary!

Think we missed something? Let us know in the comments section below.

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

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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

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