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	{{Infobox company		{{Infobox company
	\| name = Banc De Binary		\| name = Banc De Binary
	\| logo =		\| logo =
	\| type = Private		\| type = Private
	\| foundation = 2009		\| foundation = 2009
	\| location =		\| location =
			\| key_people = Oren Laurent
	\| key_people = Oren Laurent<ref>http://www.europeanceo.com/business-and-management/2013/01/the-next-generation-of-financier/</ref><ref>http://orenlaurent.com/</ref><ref>http://www.youtube.com/watch?v=Vw4Vwf4Uq08</ref> Founder & CEO & Sarah Fenwick<ref>https://vimeo.com/71723077</ref><ref>https://vimeo.com/71239995</ref><ref>https://vimeo.com/70766340</ref><ref>https://vimeo.com/70324684</ref>, Head Of Communications
	\| industry = ]		\| industry = Financial Services
	\| products = ~~Binary Option Trading~~		\| products =
	\| revenue =		\| revenue =
	\| num_employees = 250<ref>https://vimeo.com/bancdebinary/review/61478818/7c4e8ccc53</ref>
	\| parent =		\| parent =
	\| homepage =		\| homepage =
	}}		}}

			'''Banc De Binary''' is a private ] ] regulated by the ].<ref name=FT1>{{cite web\|last=Myer\|first=Gregory\|title=Uncertain future for Intrade’s markets\|url=http://www.ft.com/intl/cms/s/e108bb62-3967-11e2-8881-00144feabdc0,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2Fe108bb62-3967-11e2-8881-00144feabdc0.html&amp;amp;amp;amp;_i_referer=#axzz2Rp49Ah9A\|accessdate=2 May 2013}}</ref>
	'''Banc De Binary''' is a private ] ] regulated by the ]<ref>http://www.cysec.gov.cy/licence_members_1_en.aspx</ref>.<ref name=FT1>{{cite web\|last=Myer\|first=Gregory\|title=Uncertain future for Intrade’s markets\|url=http://www.ft.com/intl/cms/s/e108bb62-3967-11e2-8881-00144feabdc0,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2Fe108bb62-3967-11e2-8881-00144feabdc0.html&amp;amp;amp;amp;_i_referer=#axzz2Rp49Ah9A\|accessdate=2 May 2013}}</ref><ref name=FO>{{cite web\|last=Finberg\|first=Ron\|title=Banc De Binary In Talks With CFTC About US Regulation\|url=http://forexmagnates.com/banc-de-binary-in-talks-with-cftc-about-us-regulation/\|publisher=Forex Magnates\|accessdate=2 May 2013}}</ref><ref name=CR>{{cite web\|title=Blanc De Binary\|url=http://www.crunchbase.com/company/banc-de-binary\|publisher=CrunchBase\|accessdate=2 May 2013}}</ref><ref name=FB>{{cite web\|title=Banc de Binary Review\|url=http://www.fairbinaryoptions.com/brokers/banc-de-binary/\|publisher=Fair Binary Options\|accessdate=2 May 2013}}</ref><ref name=FM>{{cite web\|title=Banc De Binary is first binary options broker in EU\|url=http://www.financialmirror.com/news-details.php?nid=29363\|publisher=Financial Mirror\|accessdate=2 May 2013}}</ref><ref name=DF>{{cite web\|title=Banc De Binary Review\|url=http://www.dailyforex.com/Banc-De-Binary/Banc-De-Binary-review/853\|publisher=Daily Forex\|accessdate=2 May 2013}}</ref> It is the first ] ] in the ].<ref name=FM/><ref name=TN>{{cite web\|last=Dumon\|first=Mary\|title=Trading on Mobile Becoming a Reality\|url=http://technorati.com/business/finance/article/trading-on-mobile-becoming-a-reality/page-2/\|publisher=Technorati\|accessdate=2 May 2013}}</ref><ref name=B2C>{{cite web\|last=Dumon\|first=Mary\|title=Involuntary Investing: Cyprus Deposits Turned Into Equity\|url=http://www.business2community.com/finance/involuntary-investing-cyprus-deposits-turned-into-equity-0479463\|publisher=Business2community.com\|accessdate=2 May 2013}}</ref><ref name=VA>{{cite web\|last=Bergman\|first=Frank\|title=Banc De Binary: Unique Investment Opportunity\|url=http://vatalyst.com/40324/vatalyst-news/banc-de-binary-a-unique-investment-opportunity/\|publisher=Vatalyst\|accessdate=2 May 2013}}</ref><ref name=TS>{{cite web\|title=Brokers Embrace Mobile Trading\|url=http://www.techsling.com/2013/05/brokers-embrace-mobile-trading/\|publisher=Techsling\|accessdate=2 May 2013}}</ref>

	==History==		==History==
			The company says that it does not accept clients from the United States, however two U.S. government agencies claim that the company violated U.S. law by doing business with U.S. residents.

	After graduating from NYU with a degree in economics and spending years working at NAF Hedge Funds and Infinity Private Investment Funds, Oren Laurent founded Banc de Binary on January 15, 2009 following the SEC’s decision to approve the listing of binary options.<ref name = "FOR1">{{cite web\|url = http://forexnewsnow.com/top-stories/get-to-know-a-broker-banc-de-binary/\|title = Get to Know a Broker: Banc de Binary\|publisher = Forex News Now\|accessdate = 11 June 2013}}</ref><ref name = "IU">{{cite web\|url = http://investmentunderground.com/6882/featured/banc-de-binary-ceo-oren-laurent-opens-up-on-binary-options/\|title = Banc De Binary CEO Oren Laurent Opens Up on Binary Options\|publisher = Investment Underground\|accessdate = 11 June 2013}}</ref> Laurent stated, “Banc de Binary started as a direct result of the 2008 financial crisis,” with the aim of creating an accessible way for financially inexperienced people to participate in the market.<ref name = "IU">{{cite web\|url = http://investmentunderground.com/6882/featured/banc-de-binary-ceo-oren-laurent-opens-up-on-binary-options/\|title = Banc De Binary CEO Oren Laurent Opens Up on Binary Options\|publisher = Investment Underground\|accessdate = 11 June 2013}}</ref> Laurent also established SpotOption, the number one platform provider for trading binary options online.<ref name = "IU">{{cite web\|url = http://investmentunderground.com/6882/featured/banc-de-binary-ceo-oren-laurent-opens-up-on-binary-options/\|title = Banc De Binary CEO Oren Laurent Opens Up on Binary Options\|publisher = Investment Underground\|accessdate = 11 June 2013}}</ref> Banc de Binary works with hundreds of thousands of clients worldwide, operating in over 80 countries.<ref name = "CABJ">{{cite web\|url=http://www.cabusinessjournal.org/news/european-binary-investment-company-banc-de-binary-flourishes/\|title = European Binary Investment Company Banc De Binary Flourishes\|publisher = California Business Journal \| accessdate = 11 June 2013}}</ref><ref name = "VAT">{{cite web\|url=http://vatalyst.com/40324/vatalyst-news/banc-de-binary-a-unique-investment-opportunity/\|title = Banc De Binary: Unique Investment Opportunity\| publisher = Vatalyst \| accessdate = 11 June 2013}}</ref> The company does not accept clients from the US, however in January 2013, the company released a statement announcing its intention to work with the CFTC to become a regulated binary options exchange in the US.<ref name = "CABJ">{{cite web\|url=http://www.cabusinessjournal.org/news/european-binary-investment-company-banc-de-binary-flourishes/\|title = European Binary Investment Company Banc De Binary Flourishes\|publisher = California Business Journal \| accessdate = 11 June 2013}}</ref>

	==Services==		==Services==

			"Regulators sued Banc de Binary, a website that allows people to bet on the price of gold, oil or stocks, continuing a crackdown on offshore trading platforms that operate online," according to the ].<ref name = "WSJ">{{cite web\|url=http://online.wsj.com/article/SB10001424127887324798904578529241482337164.html\|title = Regulators Sue Prediction Site, Allege Illegal Options\|publisher = Wall Street Journal\|accessdate = 11 June 2013}}</ref>
	Banc De Binary offers assistance with and facilitates the use of ].<ref name = "WSJ">{{cite web\|url=http://online.wsj.com/article/SB10001424127887324798904578529241482337164.html\|title = Regulators Sue Prediction Site, Allege Illegal Options\|publisher = Wall Street Journal\|accessdate = 11 June 2013}}</ref> Binary options offer a payoff where either the investor receives a fixed amount of some asset or nothing at all based on correctly predicting value increases and decreases in the market.<ref name = "CABJ">{{cite web\|url=http://www.cabusinessjournal.org/news/european-binary-investment-company-banc-de-binary-flourishes/\|title = European Binary Investment Company Banc De Binary Flourishes\|publisher = California Business Journal \| accessdate = 11 June 2013}}</ref><ref name = "VAT">{{cite web\|url=http://vatalyst.com/40324/vatalyst-news/banc-de-binary-a-unique-investment-opportunity/\|title = Banc De Binary: Unique Investment Opportunity\| publisher = Vatalyst \| accessdate = 11 June 2013}}</ref> There are two kinds of binary options, cash-or-nothing and asset-or-nothing options.<ref name = "VAT">{{cite web\|url=http://vatalyst.com/40324/vatalyst-news/banc-de-binary-a-unique-investment-opportunity/\|title = Banc De Binary: Unique Investment Opportunity\| publisher = Vatalyst \| accessdate = 11 June 2013}}</ref> While there are no statistics on the success rate of binary options, Banc de Binary claims its clients receive an average payout of 81 percent on investment.<ref name = "CABJ">{{cite web\|url=http://www.cabusinessjournal.org/news/european-binary-investment-company-banc-de-binary-flourishes/\|title = European Binary Investment Company Banc De Binary Flourishes\|publisher = California Business Journal \| accessdate = 11 June 2013}}</ref><ref name = "VAT">{{cite web\|url=http://vatalyst.com/40324/vatalyst-news/banc-de-binary-a-unique-investment-opportunity/\|title = Banc De Binary: Unique Investment Opportunity\| publisher = Vatalyst \| accessdate = 11 June 2013}}</ref>

			==US regulatory troubles==
	==Regulations==
		⚫	On 5 June 2013, Banc de Binary was charged by both the CTFC and SEC with violations of U.S. financial regulations.<ref>{{cite web\|url=http://forexmagnates.com/banc-de-binary-gets-charged-by-the-cftc-investor-warning-also-issued-across-the-us/ \|title=Banc De Binary Gets Charged by the CFTC - Investor Warning Also Issued Across The US \|publisher=Forex Magnates \|date= \|accessdate=2013-07-20}}</ref><ref>{{cite web\|author=About Author Ed \|url=http://thefxview.com/2013/06/07/ctfc-files-civil-suit-against-banc-de-binary/ \|title=CTFC files civil suit against Banc de Binary \|publisher=The FX View \|date= \|accessdate=2013-07-20}}</ref> The CTFC and SEC, working in conjunction, filed civil suits seeking disgorgement, financial penalties and other preliminary and permanent injunctions.<ref>{{cite press release\|url=http://www.sec.gov/news/press/2013/2013-103.htm \|title= SEC Warns Investors About Binary Options and Charges Cyprus-Based Company with Selling Them Illegally in U.S.\|date= June 6, 2013 \|publisher= Securities and Exchange Commission \|accessdate=2013-07-20}}</ref><ref>{{cite press release\|url=http://www.cftc.gov/PressRoom/PressReleases/pr6602-13 \|title=CFTC Charges “Prediction Market” Proprietor Banc de Binary with Violating the CFTC’s Off-Exchange Options Trading Ban and Operating as an Unregistered Futures Commission Merchant \|publisher=U.S. Commodity Futures Trading Commission \|date= June 6, 2013 \|accessdate=2013-07-20}}</ref> In civil lawsuits filed in Nevada, the SEC and CTFC allege that Banc de Binary were offering off-exchange traded options to US customers and unlawfully solicited US customers to buy and sell options. The CTFC and SEC's suit also alleges that Banc de Binary did not limit its offerings to eligible contract participants, contrary to U.S. regulation.<ref>{{cite web\|url=http://www.sec.gov/litigation/complaints/2013/comp-pr2013-103.pdf \|title=Case 2:13-cv-00993 Complaint: Securities and Exchange Commission vs. Banc De Binary Ltd. \|publisher= \|date=Filed 06/05/13 \|accessdate=2013-07-20}}</ref>

			==Investor advisories==
	Banc De Binary is fully licensed and regulated by the ]<ref>http://www.cysec.gov.cy/licence_members_1_en.aspx</ref>. It is authorized by the ]<ref name="BancDeBinaryFSA">{{cite news \| last = \| first = \| coauthors = \| title =Financial Services Register 2013. \| newspaper =Financial Services Register. \| location = \| pages = \| language = \| publisher = \| date = Jun 2013\| url =http://www.fsa.gov.uk/register/firmRegulator.do?sid=314566\| accessdate =08 July 2013 }}</ref> in the ], ]<ref>https://portal.mvp.bafin.de/database/InstInfo/institutDetails.do?cmd=loadInstitutAction&institutId=131401</ref> in ], ]<ref>http://www.consob.it/mainen/documenti/english/intermediaries/albi/COM.html?symblink=/mainen/intermediares/investments_firms/com_lnk.html</ref> in ], ]<ref>https://www.regafi.fr/spip.php?type=simple&id_secteur=1&lang=fr&denomination=banc+de+binary&page=af&id=3880</ref> in ], ]<ref>http://www.cnmv.es/Portal/Consultas/ESI/ESISExtranjerasLP.aspx?numero=3370&tipo=CLP</ref> in ] and fully licensed by ]. Banc De Binary are also fully compliant with the ].
			*Banc de Binary is not accredited with the ], where it is rated "F" for failure to respond to customer complaints. It has a BBB file that was opened in 2010.<ref>{{cite web\|title=Banc De Binary review\|url=http://www.bbb.org/new-york-city/business-reviews/investment-management/banc-de-binary-in-new-york-ny-118878/\|publisher=Better Business Bureau\|accessdate=15 October 2012}}</ref>

			*It appears on the ]'s "List of Unregistered Soliciting Entities That Have Been the Subject of Investor Complaints".<ref>{{cite web\|title=Public Alert: Unregistered Soliciting Entities\|url=http://www.sec.gov/investor/oiepauselist.htm\|publisher=Securities and Exchange Commission\|accessdate=15 October 2012}}</ref>
	==Operations==
			*It is listed on the ]'s ''Investors Warning List'' of "companies that appear to be engaging in activities that may pose a risk to investors".<ref>{{cite web\|title=Investors Warning List\|url=http://www.osc.gov.on.ca/en/Investors_warning-list_index.htm#v\|publisher=Ontario Securities Commission\|accessdate=13 January 2013}}</ref>

	Banc De Binary employs over 250 people and currently has offices in ], ], ], ], ], ], ], ], ], ], ], ], ], ], ] and ].

	==Awards==

	* 2013, Best Binary Options Broker in the Middle East 2013, JFEX<ref name = "BBI">{{cite web\|url=https://bancdebinary.com/about-us/awards-received/\|title = Banc de Binary awards\|publisher = Banc de Binary\|accessdate = 11 June 2013}}</ref>
	* 2013, Corporate Governance Award, World Finance Magazine<ref name = "BBI">{{cite web\|url=https://bancdebinary.com/about-us/awards-received/\|title = Banc de Binary awards\|publisher = Banc de Binary\|accessdate = 11 June 2013}}</ref>
	* 2012, Best Binary Options Customer Service, ForexTraders<ref name = "BBI">{{cite web\|url=https://bancdebinary.com/about-us/awards-received/\|title = Banc de Binary awards\|publisher = Banc de Binary\|accessdate = 11 June 2013}}</ref>
	* 2012, World Finance 100, World Finance Magazine<ref name = "BBI">{{cite web\|url=https://bancdebinary.com/about-us/awards-received/\|title = Banc de Binary awards\|publisher = Banc de Binary\|accessdate = 11 June 2013}}</ref>
	* 2012, Best Binary Options Platform in North America, World Finance Magazine<ref name = "BBI">{{cite web\|url=https://bancdebinary.com/about-us/awards-received/\|title = Banc de Binary awards\|publisher = Banc de Binary\|accessdate = 11 June 2013}}</ref>
	* 2012, Best Binary Options Platform in Asia, World Finance Magazine<ref name = "BBI">{{cite web\|url=https://bancdebinary.com/about-us/awards-received/\|title = Banc de Binary awards\|publisher = Banc de Binary\|accessdate = 11 June 2013}}</ref>
	* 2012, Most Secure Binary Broker, Moat & Bailey<ref name = "BBI">{{cite web\|url=https://bancdebinary.com/about-us/awards-received/\|title = Banc de Binary awards\|publisher = Banc de Binary\|accessdate = 11 June 2013}}</ref>
	* 2011, Best Customer Service, Forex News Now<ref name = "BBI">{{cite web\|url=https://bancdebinary.com/about-us/awards-received/\|title = Banc de Binary awards\|publisher = Banc de Binary\|accessdate = 11 June 2013}}</ref>
	* 2011, Best Customer Service, FX Empire<ref name = "BBI">{{cite web\|url=https://bancdebinary.com/about-us/awards-received/\|title = Banc de Binary awards\|publisher = Banc de Binary\|accessdate = 11 June 2013}}</ref>
	* 2011, Broker of the Year, Binary Options Daily<ref name = "BBI">{{cite web\|url=https://bancdebinary.com/about-us/awards-received/\|title = Banc de Binary awards\|publisher = Banc de Binary\|accessdate = 11 June 2013}}</ref>
	* 2011, Platform of the Year, Binary Options Daily<ref name = "BBI">{{cite web\|url=https://bancdebinary.com/about-us/awards-received/\|title = Banc de Binary awards\|publisher = Banc de Binary\|accessdate = 11 June 2013}}</ref>

	==US Regulatory Battles==

⚫	On ~~the 6th~~ June 2013, Banc de Binary was charged by both the CTFC and SEC ~~for alleged~~ violations of US ~~Financial~~ ~~Regulation~~.<ref ~~name="FM"~~>{{[cite web\|url=http://forexmagnates.com/banc-de-binary-gets-charged-by-the-cftc-investor-warning-also-issued-across-the-us/\|title = Banc De Binary: Gets Charged by the ~~CTFC\|~~ ~~publisher~~ = ~~ForexMagnates~~ \| ~~accessdate~~ = 19 ~~June~~ 2013}}</ref> <ref ~~name="FxView"~~>{{[cite web\|url=http://thefxview.com/2013/06/07/ctfc-files-civil-suit-against-banc-de-binary/\|title = CTFC files civil suit against Banc de Binary\| publisher = The Fx View \| accessdate = ~~19 June~~ 2013}}</ref> ~~Both the~~ CTFC and SEC working in conjunction ~~with one another~~ filed civil suits ~~against the company,~~ seeking disgorgement, ~~plus~~ financial penalties ~~as well~~ other preliminary and permanent injunctions ~~against Banc De Binary~~.<ref ~~name="SEC"~~>{[cite ~~web~~\|url=http://www.sec.gov/news/press/2013/2013-103.htm\|title = SEC Warns Investors About Binary Options and Charges Cyprus-Based Company with Selling Them Illegally in U.S. \| publisher=Securities Exchange ~~Comission~~ \| ~~accessdate~~ ~~= 19 June~~ 2013}</ref><ref ~~name="CTFC"~~>{[cite ~~web~~\|url=http://www.cftc.gov/PressRoom/PressReleases/pr6602-13\|title = CFTC Charges “Prediction Market” Proprietor Banc de Binary with Violating the CFTC’s Off-Exchange Options Trading Ban and Operating as an Unregistered Futures Commission Merchant \| ~~accessdate~~ = 19 June 2013}</ref> In civil ~~suites~~ filed in Nevada, the SEC and CTFC allege that Banc de Binary were offering off exchange traded options to US ~~Customers~~ and unlawfully solicited US customers to buy and sell options. The CTFC and SEC's suit also alleges that Banc de Binary did not limit its offerings to eligible contract participants contrary to ~~use~~ regulation.<ref ~~name="SEC"~~>{[cite web\|url=http://www.sec.gov/litigation/complaints/2013/comp-pr2013-103.pdf\|title = ~~SEC Full~~ Complaint \| ~~accessdate~~ = 19 ~~June~~ 2013}</ref>

	==External links==		==External links==
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	*		*
	*		*

	==See also==

	* ]
	* ]

	==References==		==References==
	{{reflist}}		{{reflist\|colwidth=30em}}

	]		]
			]

Revision as of 16:22, 10 August 2013

Banc De Binary

Company type	Private
Industry	Financial Services
Founded	2009
Key people	Oren Laurent
Website	www.bancdebinary.com/

Banc De Binary is a private option banker regulated by the Cyprus Securities Exchange Commission.

History

The company says that it does not accept clients from the United States, however two U.S. government agencies claim that the company violated U.S. law by doing business with U.S. residents.

Services

"Regulators sued Banc de Binary, a website that allows people to bet on the price of gold, oil or stocks, continuing a crackdown on offshore trading platforms that operate online," according to the Wall Street Journal.

US regulatory troubles

On 5 June 2013, Banc de Binary was charged by both the CTFC and SEC with violations of U.S. financial regulations. The CTFC and SEC, working in conjunction, filed civil suits seeking disgorgement, financial penalties and other preliminary and permanent injunctions. In civil lawsuits filed in Nevada, the SEC and CTFC allege that Banc de Binary were offering off-exchange traded options to US customers and unlawfully solicited US customers to buy and sell options. The CTFC and SEC's suit also alleges that Banc de Binary did not limit its offerings to eligible contract participants, contrary to U.S. regulation.

Investor advisories

Banc de Binary is not accredited with the Better Business Bureau, where it is rated "F" for failure to respond to customer complaints. It has a BBB file that was opened in 2010.
It appears on the Securities and Exchange Commission's "List of Unregistered Soliciting Entities That Have Been the Subject of Investor Complaints".
It is listed on the Ontario Securities Commission's Investors Warning List of "companies that appear to be engaging in activities that may pose a risk to investors".

External links

References

Myer, Gregory. "Uncertain future for Intrade's markets". Retrieved 2 May 2013.
"Regulators Sue Prediction Site, Allege Illegal Options". Wall Street Journal. Retrieved 11 June 2013.
"Banc De Binary Gets Charged by the CFTC - Investor Warning Also Issued Across The US". Forex Magnates. Retrieved 2013-07-20.
About Author Ed. "CTFC files civil suit against Banc de Binary". The FX View. Retrieved 2013-07-20. {{cite web}}: |author= has generic name (help)
"SEC Warns Investors About Binary Options and Charges Cyprus-Based Company with Selling Them Illegally in U.S." (Press release). Securities and Exchange Commission. June 6, 2013. Retrieved 2013-07-20.
"CFTC Charges "Prediction Market" Proprietor Banc de Binary with Violating the CFTC's Off-Exchange Options Trading Ban and Operating as an Unregistered Futures Commission Merchant" (Press release). U.S. Commodity Futures Trading Commission. June 6, 2013. Retrieved 2013-07-20.
"Case 2:13-cv-00993 Complaint: Securities and Exchange Commission vs. Banc De Binary Ltd" (PDF). Filed 06/05/13. Retrieved 2013-07-20. {{cite web}}: Check date values in: |date= (help)
"Banc De Binary review". Better Business Bureau. Retrieved 15 October 2012.
"Public Alert: Unregistered Soliciting Entities". Securities and Exchange Commission. Retrieved 15 October 2012.
"Investors Warning List". Ontario Securities Commission. Retrieved 13 January 2013.

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