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Zoey_JD
Zoey_JD, Criminal attorney
Category: Fraud Examiner
Satisfied Customers: 23577
Experience:  Active member of the NYS bar since 1989
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How or Who can retrieve money from Banc De Binary trading

Customer Question

How or Who can retrieve money from Banc De Binary trading scheme ?
I have had more than my credit limit withdrawn from my NAB Master Card.
Then after paying it off had another US $ 9,000 charged expecting to receive profit.
This all started February 2nd 2016.
What am I to do after being instructed to press on trading items credit stood at US 142,024 dollars. I sent an email that I wanted $ 25,000 be returned to me and $ 77,000 be used for trading and the balance left in my account for expenses and charges.
The next time I was phoned by Mike Fisher ( [email protected] ) I asked if he had received my email and that I only wanted $ 77,000 used for trading. He replied he received my email and he knew what he was doing and to press quickly where and as he was instructing me.
As a result my account was drained to $ 58 . What is to be done ? Alfred C. ****
phone 03 57 908 568 Email [email protected]
Submitted: 6 months ago.
Category: Fraud Examiner
Expert:  Zoey_JD replied 6 months ago.
Hello, I am very sorry to hear about this. We hear complaints all the time about binary brokers, but invariably they turn out to be unregulated, which leaves customers more or less at the broke's mercy. Here you did your homework and went with a broker that is regulated under CySec. You need to look to the terms of your contract with Banc de Binary and find out if they breached their agreement with you. It's easier to negotiate getting your money back if you can establish that the brokerage violated its own terms of service. If you get no satisfaction from them, at least you know that you are dealing with an actual regulated brokerage. That means they are not going to disappear into thin air and that you have legal rights and remedies. You would start off by contacting CySec and filing a formal complaint against them. CySec should direct you from there, and hopefully they can help you reach some resolution without you having to sue Banc de Binary, which is another available option. if CySec turns out not to be willing to enforce its own licencees, your only remedy would be to file suit against Banc de Binary. For that, you'd need to talk to an Australian lawyer, who may very likely tell you that you're better off retaining counsel and suing them in Cyprus. While you could sue them in Australia, even if you win a judgment and they don't pay it you would have to go to court in Cyprus to enforce the judgment -- not necessarily a foregone conclusion -- and to compel Banc de Binary to pay it.