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A few days after the lawsuit was filed, Banc De Binary registered with the ] in the ].<ref name="three">{{cite news|title=Regulated Binary Options Brokers|date=June 11, 2013|url=http://www.binarytribune.com/Regulated+Binary+Options+Brokers|newspaper=Binary Tribune}}</ref> The company had expanded into the UK that February.<Ref>{{cite news|date=October 30, 2013|title=Fears rise as foreign forex operators fall outside UK regulation|first=Vanessa|last=Kortekaas}}</ref> A few days after the lawsuit was filed, Banc De Binary registered with the ] in the ].<ref name="three">{{cite news|title=Regulated Binary Options Brokers|date=June 11, 2013|url=http://www.binarytribune.com/Regulated+Binary+Options+Brokers|newspaper=Binary Tribune}}</ref> The company had expanded into the UK that February.<Ref>{{cite news|date=October 30, 2013|title=Fears rise as foreign forex operators fall outside UK regulation|first=Vanessa|last=Kortekaas}}</ref>

==Investor advisories==
As of October 2013, the company was rated "F" by the United States' ] because 31 complaints had been made against it, including 9 which were unanswered. The BBB report also offered the opinion that "he site essentially allows investors to gamble on the future price of something at a point in time."<ref>{{cite web
|url= http://www.bbb.org/new-york-city/Business-Reviews/investment-management/banc-de-binary-in-new-york-ny-118878
|title= BBB Business Review
|archiveurl= http://web.archive.org/web/20131017082101/http://www.bbb.org/new-york-city/Business-Reviews/investment-management/banc-de-binary-in-new-york-ny-118878
|archivedate= 2013-10-17
|quote= Factors that lowered the rating for Banc De Binary include:

31 complaints filed against business
Failure to respond to 9 complaints filed against business}}</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|archiveurl=http://web.archive.org/web/20130223030930/http://www.sec.gov/investor/oiepauselist.htm|archivedate=2013-02-23}}</ref>

In Canada, 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
|archiveurl=http://web.archive.org/web/20131017000849/http://www.osc.gov.on.ca/en/Investors_warning-list_index.htm
|archivedate=2013-10-17}}</ref>

After receiving "at least one complaint from a Québec investor who traded through Banc de Binary's platform and was unable to recover his investment", the ] (AMF) warned investors about the company. It noted that a bonus of 50% of the opening deposit is available, but customers who accept the bonus are not allowed to make withdrawals until they have made trades equal to 20 times their initial deposit. The AMF also pointed out that, due to the "all or nothing" nature of binary options, an investor who wrongly predicts market movement will lose his entire investment. Banc De Binary is not registered with the AMF. The AMF also, like the CFTC, included a more general warning about the risk of fraud in binary options trading in the same press release.<ref>{{cite web|url=http://www.lautorite.qc.ca/en/press-releases-2013-autre.html_2013_caution-banc-de-binary.html |title=Binary options – AMF Cautions About Solicitations by Banc de Binary |publisher=Lautorite.qc.ca |date= |accessdate=2013-08-17}}</ref>


==External links== ==External links==

Revision as of 19:25, 7 June 2014

Banc De Binary
Company typePrivate
Industrybinary options
Founded2009
Key peopleOren Laurent (CEO)
Websitewww.bancdebinary.com/

Banc De Binary is a binary options trading company headquartered in Cyprus and Israel. Investors using its service take bets on future prices of gold, oil, stocks or market indexes and are paid a return if their predictions come true within a set amount of time. It is one of the three largest binary options providers, along with 24Options and AnyOption.

The company was founded on January 15, 2009. In June 2010 it introduced an online trading system at Bbinary.com.

Regulation

In June 2013 the Securities Exchange Commission and the Commodity Futures Trading Commission filed lawsuits against Banc De Binary as part of an increased effort to regulate prediction-based trading following a lawsuit with Intrade. The SEC said that Banc De Binary stated in 2012 that half of its 250,000 investors were based in the US. However, the North American Derivatives Exchange is the only such service authorized by the US government to operate in the country. According to Banc de Binary website, it has voluntarily stopped offering its services to US residents.

A few days after the lawsuit was filed, Banc De Binary registered with the Financial Services Authority in the United Kingdom. The company had expanded into the UK that February.

Investor advisories

As of October 2013, the company was rated "F" by the United States' Better Business Bureau because 31 complaints had been made against it, including 9 which were unanswered. The BBB report also offered the opinion that "he site essentially allows investors to gamble on the future price of something at a point in time."

It appears on the US Securities and Exchange Commission's "List of Unregistered Soliciting Entities That Have Been the Subject of Investor Complaints".

In Canada, 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".

After receiving "at least one complaint from a Québec investor who traded through Banc de Binary's platform and was unable to recover his investment", the Autorité des marchés financiers (AMF) warned investors about the company. It noted that a bonus of 50% of the opening deposit is available, but customers who accept the bonus are not allowed to make withdrawals until they have made trades equal to 20 times their initial deposit. The AMF also pointed out that, due to the "all or nothing" nature of binary options, an investor who wrongly predicts market movement will lose his entire investment. Banc De Binary is not registered with the AMF. The AMF also, like the CFTC, included a more general warning about the risk of fraud in binary options trading in the same press release.

External links

References

  1. ^ Wright, Susan. "Banc De Binary CEO Oren Laurent Opens Up on Binary Options - with Banc De Binary". Investing.com. Retrieved 2013-11-11.
  2. ^ Meyer, Gregory; Massoudi, Arash (June 7, 2013). "US launches civil action against Banc de Binary". Financial Times.
  3. ^ "Regulators Sue Prediction Site, Allege Illegal Options". Wall Street Journal. Archived from the original on 2013-11-15. Retrieved 11 June 2013.
  4. ^ "Regulated Binary Options Brokers". Binary Tribune. June 11, 2013.
  5. "Banc De Binary Bbinary.com Launches New Innovative Online Broker". Investment Weekly News. June 26, 2010. p. 46. {{cite news}}: Cite has empty unknown parameter: |1= (help)
  6. https://bancdebinary.com/
  7. Kortekaas, Vanessa (October 30, 2013). "Fears rise as foreign forex operators fall outside UK regulation".
  8. "BBB Business Review". Archived from the original on 2013-10-17. Factors that lowered the rating for Banc De Binary include: 31 complaints filed against business Failure to respond to 9 complaints filed against business {{cite web}}: line feed character in |quote= at position 60 (help)
  9. "Public Alert: Unregistered Soliciting Entities". Securities and Exchange Commission. Archived from the original on 2013-02-23. Retrieved 15 October 2012.
  10. "Investors Warning List". Ontario Securities Commission. Archived from the original on 2013-10-17. Retrieved 13 January 2013.
  11. "Binary options – AMF Cautions About Solicitations by Banc de Binary". Lautorite.qc.ca. Retrieved 2013-08-17.
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