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Zoey_JD
Zoey_JD, Criminal attorney
Category: Fraud Examiner
Satisfied Customers: 23580
Experience:  Active member of the NYS bar since 1989
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Madam,I just registered to BinaryBook trading few

Customer Question

Dear sir/madam,
I just registered to BinaryBook trading few days ago, and I deposited ($3,344.00) USD. The next morning someone called me, intruduce himself that he will be my account manager, to to assist me how to trade and make profits. The next day I received an email from him informing me that he changed my password ***** and that without my authorization. I was shocked so I immediately log-in to my account and check my balance, was only $150.00 left in my account. I've been contacting him and sending emails but he avoided to answer any of my call and emails. I want to recover my money but I don't know how. Their contact BinaryBook support cannot help at all. They were telling me that I still have ($150.00) to trade. Please help to recover my money thanks!
Submitted: 1 year ago.
Category: Fraud Examiner
Expert:  Zoey_JD replied 1 year ago.
Hello,
My name is ***** ***** I will be assisting you with your question.
Your country does not regulate binary trading at all, which means that if the binary option broker you're trading with is not registered with some other country's financial regulatory authority, they can make their own rules, and literally anything goes. Because most countries don't require binary brokers to be registered with financial authorities, only a very, very few bother to register themselves. As a result we get many complaints on a daily basis about unregulated and fraudulent binary companies that make unauthorized trades on a member's behalf, wiping out their accounts, or which will not let members withdraw their profits.
Unfortunately, yours is not the first complaint we've had about this broker. Binarybook.com is not regulated. Its website has no address information. The website's WHOIS shows that the company is using a proxy service to hide the site owner's identity and actual location. Although there are rumors that it is UK based it is not registered with the UK's Financial Conduct Authrity and there's no indication it's really anywhere in the UK. The site's IP address traces to the US, where it cannot trade lawfully.
So where is it really? Your guess is as good as mine, which means the odds of your recovering your money are very low. You've been ripped off and you're entitled to take legal action to get your money, but finding the to take them to court is a real problem.
Scamadviser.com gives BinaryBook's website only a 10% trust rating and has many complaints from investors who have had horrible experiences.
Authorities on binary trading suggest that if your country doesn't regulate binary trading, for safety's sake, you should stick to a company that is regulated by European authorities. If a broker is regulated, you could contact the regulatory authority which could assist you in getting back your funds. This one is not.
Report the fraud to Actionfraud.police.uk, since they are supposedly located in England. Report it also to your Canadian Anti-Fraud Centre:
http://www.antifraudcentre-centreantifraude.ca/index-eng.htm
If contact your bank or credit card company and see if you can get them to issue a chargeback.
If your bank or credit card company won't help and BinaryBook is ignoring you, then this is a matter for law enforcement and the only way you'll be able to get your money back is if the authorities can find out where these folks actually are and bring them to justice.