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Binary Optionspresure from sales person

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Banc de binary

Binary options

At the start of december I decided it would be a good idea to look into trading binary options.
I did some research and found the company banc de binary to be the number 1 in the world for trading binary options.
So I signed up and out the minimal deposit of $250,
The next day I received a call form one of the employees jonathan reed (my account manager.) he showed me around the platform via skype and put me in some small trades that made about $100 in an hour.

Later that week we talked again and he pushed me towards a big trade on apple, but there was a catch. I need to make an investment of $15, 000 into the account.
I told him there is no chance for a 20 year old with a mortgage, on 4th year apprentice wages to make that kind of investment.
Eventually we came to an agreement of $10, 000 (most of my savings).
After almost 2 weeks of trading we made 100% (just over $10, 000)
I felt on top of the world, but then he started pushing me again to get the account moving forward with more funds and start making some serious money as he called it.

Picture 1: binary options accounts

With some help from my parents they agreed to fund me $10, 000 and banc de binary would match that by adding an additional (bonus) as they called it of $10, 000 to trade with.
About a week went by we did a few trades won some lost some and ended up breaking even.
Then I received a phone call from johnathan at 2am to inform me that there was a big trading event happening on the thursday night and that he will be getting all of his clients to invest big in this event, so I said yes to trading the event.
Thursday night came and I made sure I was ready for this event. I got onto the platform and opened up ready for the event. I opened up some trades on currencies and about 45 minutes later I had lost $18, 000…
Not the best feeling in the world and I didn’t exactly sleep well that night.

Picture 2: binary options accounts

After a few days away from trading just to calm down and get over the massive loss, my account manager got me into an educational session on fundamental analyses and got me into a few small trades, to build back my confidence and make back a few dollars.
Then came the big oil trades as he put it. Johnathan told me that to get onto the oil trades I would have to become a vip member, which means I would have to invest $50, 000. I told him there was no chance in the world of that happening.
He tried pushing and pushing me to max out my parents credit card and said we wouldn’t trade with the money that I invest off the credit card just the money that is already in the account.
After a 2 hour phone call I told him to try on a different card that I knew only had $2, 500 and he said its okay if only $15, 000 go’s through, I laughed and said we will see what happens.
The $2, 500 went through and banc de binary matched it by funding an additional 200% ($5, 000) to trade with. We opened up 5 oil trades for $5, 000 each.
So far the first 2 trades have gone off, one winning and one losing. The rest are to expire on march 31st and late june, but they need to close above $54 a barrel which is not looking very good right now.

With the last of the account being at $13, 500 we had another trading event coming up. My account manager got me into an event to trade with half of the funds remaining as he promised me that this trade was going to be a big pay off!
We ended up opening 3 trades for $3, 000 each on dubai for a 20 minute expiry (or in other words he had just gambled $9, 000 of my money.) the stock dropped $0.85 after 40 seconds and never came back up. He then called me to get back on the platform to do a recovery trade with the remaining $4, 000.
Me panicking and not thinking about it I listened to him and opened up the last trades with what I had left.
One and a half hours later I turned my laptop on to read that my account had $500 left after one night…

Picture 3: binary options accounts

As you can imagine that turned into yet another sleepless stressed out night.
I called my account manager straight away to ask him what the hell just happened he had just lost 95% of my account! His explanation was that an announcement was made about the usd falling and made the stock dubai drop.
Then replied I will talk to the recovery department and see what I can do.
After a few days he came back to me with if I put in $3, 000 they will invest $8, 000 for me to trade with. I thought he was joking, I told him why on earth would I give another $3, 000 to a company that just lost me over $20, 000 usd.
I asked him the hell would I get the money to do that.
I immediately told him to put me on the phone with the highest management in the company
I managed to get on the phone with the head of customer services and gave them a mouth full. There reply to me was that if I invest $5, 000 they would put in $6, 000 to trade my account back up.
Now I am in the process of finding out if there is any chance to get out of the remaining oil trades and try and get back any money that I can and shut down the account.

This whole experience has taught me a lot of things about trading and investing in general.
Number one is that the fastest way to get rich is slowly with minimal risk and hard working the right people like peter at the trading lounge who has been a massive hand to me.
And lastly to always follow the biggest rule of investing to always protect your capital.

I wrote this in the hope that no one else will make the same mistake I did and that the best players in the game aren’t the ones going crazy putting down the big bucks but the ones being smart taking minimal risk for maximal reward.

Thank you
Michael jennings

Binary Options
Binary Options
Binary Options

Mi
Feb 03, 2015
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Comments

  • Ai
      Nov 10, 2013
    binary options - shamefully scammed
    www.citrades.com
    United States
    citrades.com

    Scammed by dave johonson of www.citrades.com. Poorly designed platform with many issues. Dave Johonson refused and cancelled my withdrawal request. The website cancelled the withdrawal request. Now they have bl9cked my access to the site. I don't know what are they cooking there!!!

    0 Votes
  • Fa
      Mar 24, 2015

    I've been a trader in FX for over 4 years and I've had some highs and lows.

    I've been considering a branching out into Binary for the best part of a
    year now but never saw anything to tilt over the edge.

    After investing in Pro Binary Robot I can honestly say it was worth the wait!

    So far I've had 85% of my signals come out as winners and I couldn't ask for much
    more than that.I'll soon be up to th 5K+ per week dollar and it's barely been
    3 months yet.

    If you want to know how I do it, Open this link:http://www.tomhuaonline.com/br

    0 Votes
  • Ma
      Mar 24, 2015

    $5, 000 a week, please show real accounts, not Photoshopped and just to make me laugh your selling a link LOL what a joke you are!

    0 Votes

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