With the trade brokers being one of the most profit-making people in the world, the market witnessed a surge in the presence of online scammers and cybercriminals as well. Further, the onset of the coronavirus has increased the probability of people entering the trade market as most of them think of it as earning profit at the ease of one’s home. However, this sudden increase in customers has encouraged more and more online scammer to enter the market and trick thousands of people every day. Banc De Binary is one such broker that we are going to review today.
About Banc De Binary:
Banc De Binary claims to be one of the professional companies that are there in the binary options markets. The company also states on its website that it has its main offices in Cyprus and London. Founded in the year 2009, the company boasts about having over 100 business partners across the world. Banc De Binary also claims to have a team of skilled and experienced traders who have been in the financial market for many years. Every Trade company that is running its business in the market should have a license approved by the regulatory authorities of the countries they have their business in. The companies that do not have a license are legally not allowed to trade. The regulated trade companies, on the other hand, have to go through a lot of formalities such as sending regular updates to the regulatory authority about their expenditure of that day. The regulated companies are also compelled to reimburse their customers with a certain amount of money in case the customer loses money. The regulatory authority also prohibits the licensed trading companies to keep any kind of large amount as a minimum deposit or bonuses.
The website also provides the customers with a variety of languages in which they can view the website such as French, Italian, German, Danish, Arabic, Chinese, Spanish, and English. Banc De Binary gives its customers the option to choose from six different trading accounts that go by the names Bronze, Silver, Gold, Premium, Platinum, and Exclusive. The minimum deposit to make a bronze account is fixed at 250 dollars, which is fairly a high amount for a trade broker to ask for. Regulated brokers would never ask for such a huge amount as the minimum deposit. The minimum deposit needed for the silver account is 2500 dollars and that of the gold account is 5000 dollars. This goes without saying that the minimum deposit asked for all of the trading accounts is excruciatingly high and against the laws of the regulatory authorities. The minimum deposit for the Premium account lies at 10,000 dollars while that of the Platinum account is 25,000 dollars. Not much information is revealed about the Exclusive trading account.
Is Banc De Binary a Scam or Legit?
Banc De Binary, like every other scam broker, promises a 100% bonus. The readers must note that a regulated company is not allowed to offer bonuses as it will only put the customer at more risk. The withdrawal process of this company looks a bit tricky as well. To sum up, everything that has been stated so far, Banc De Binary is a complete scam. We do not recommend our readers to trade with this account. Keep reading our reviews to save yourself from the vicious fraud brokers.