Banc De Binary Announces Its 200,000 Milestone

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Banc De Binary seizes its operations

Anyone who has ever been interested in trading binary options must have run into Banc De Binary. Since it was founded in 2009, it grew to become one of the largest binary options brokers in the world. Now, it’s shutting down for good.

Banc De Binary is one of the many subsidiaries of the SpotOption exchange, which is based in Israel. As such, Banc De Binary also has offices in Israel and another branch in Cyprus, where it is registered to operate in Europe. Banc De Binary is merely the public face of the binary options trade, but SpotOption creates the quotes with which clients trade. According to allegations, one of the malpractices was that SpotOption was ‘creating’ quotes rather than quoting market prices, thus swindling clients out of their money. This is how Banc De Binary first started experiencing troubles.

The company was doing well – it had plenty of clients from all over the world, hundreds of employees and soaring revenues. It had even got a lot of publicity in recent years for sponsoring Premier League club Liverpool FC. A deal with Southampton FC in September fell through late last year due to mounting bad press.

The company’s troubles began just a year ago – in January 2020, Banc De Binary was fined 350,000 euro by the CySEC. According to the regulatory body, Banc De Binary had provided misleading marketing information and the company did not meet contractual obligations that should be found between client and firm. In addition, the brokerage did not fully inform clients about the risks involved in trading binary options.

A month later, in February, the CFTC and SEC fined Banc de Binary an amount totaling $11 million. Their main mistake – soliciting US clients under false pretenses. On the company’s website, it stated that it had offices in New York within the Trump Tower building, but it didn’t. Furthermore, the CFTC had already discouraged trading of binary options, but the company had gone around these restrictions.

Finally, on the 4 th of January 2020, Banc De Binary surrendered its license to CySEC, effectively shutting down its operations.

What happens now?

The process is going to take some time, the company has assets of around $500 million, and it can’t just close its doors in a day. All current clients have been advised to withdraw their money from their accounts, and after this is done, the board will make the final arrangements. Of course, this won’t affect SpotOption, only Banc De Binary, and you should not be surprised if the former created yet another subsidiary.

Banc De Binary won’t go quietly, though, and will leave other binary options brokers reeling from the aftermath. Brokerages dealing with binary options in Israel have been on the rise lately, and the Israeli financial regulators are in the process of creating legislation banning the industry. At the moment, there is already legislation in parliament awaiting approval to this effect.

The reason behind this is the increased trading of binary options worldwide with very little returns. One of the SpotOption sales managers was quoted in 2020 as saying that only 20% of all binary options traders’ make money. Several lawyers from the UK have also launched accusations against such brokerages claiming their clients lost a lot of money.

This is one of the reasons the CFTC has already issued warnings against trading binary options, and now other countries are seeking to either ban or regulate the trade.

Banc De Binary – Honest Review

Banc De Binary

  • Does not allow US traders to register an account.

Banc De Binary was founded in 2009 and has won multiple awards. BDBinary is known as the leader in the binary options market. It is an online platform that does not require any downloading onto your device. Their platform is mobile and tablet friendly, but we have to say that it is a bit slower than other platforms.

However, this review is not worth much, since BDB has been shut down by it’s founder.

Best Binary Options Brokers 2020:
  • Binarium

    Top Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Education How To Trade!
    Free Demo Account!
    Big Sign-up Bonus!

  • Binomo

    Good Choice For Experienced Traders!

Banc de Binary Platform

The platform that banc de binary uses is similar to other brokers’, for example, BDSwiss operates on the same platform. They offer high-low options trading, trading pairs, short and long term trading. Nothing fancy but it is enough for regular binary options trading.

We have to admit that their platform might come across as rather slow compared to other brokers, but it definitely is worth the wait. Minimum trade size is only $1 which makes bdbinary a great company to start with if you’re new to the business.

This is what banc de binary’s platform looks like

Account types at Banc de Binary

Types of accounts (click to enlarge)

There are several account types depending on how much the trader wants to deposit and invest. The account types are called Bronze, Silver, and Gold.

  • The Bronze account has access to the 190 trade-able assets of the company, reviews, lots of webinars, daily marketing access to training, and starts with depositing $ 250 or more.
  • Silver accounts have everything the previous account type and start with $2 500. Also, you will get loyalty gifts, trading alerts and events, direct access to your account manager for 10 days and a trading central access for 1 month.
  • The Gold starts with depositing $ 5 000. The access to the trading central is prolonged for 3, you get your very own account manager, and the money management smart plan.

Banc de Binary Demo Account

Banc de Binary offers a demo account (learn more) with $ 50 000 for trading. You will get access to the demo account as soon as you make your first deposit of $ 250 or more. Then after talking to the live-support, your demo account is opened and you have an unlimited access to it.

However, if you do not wish to fund your account before you can even try binary options trading, you can find a demo account free of charge on our website. Click this link to start. Binary Options Demo

Depositing into your account

You do not need to make a deposit when you register an account. You can simply register and research more about the accounts and get to use the full website. But in order to make trades on the platform, you will need to deposit funds into the account. The minimum deposit amount is $ 250 (or 250 €) The minimum amount for placing a trade is $1

Deposits can be made using visa, master card, skrill, wire transfer, and some alternative deposit methods may be used if you ask your account manager.

Banc de Binary Bonus

Banc de Binary has some great bonuses. Like other binary trading companies, it all depends on how much the trader deposits. Some high account holders can get a signup bonus of up to a 100%, which doubles their money before they have even started to trade! The broker Banc de Binary also offers a 3-risk-free trades bonus for all clients who sign up.

Another bonus is the referral sign up bonus when they refer a friend or someone to Banc de Binary to open an account they get a bonus in their account. Traders can also earn bonuses from event specials randomly. Bonuses are great ways to get “free money” to trade with. It is fast and easy to deposit funds into whatever account you have.

Withdrawing Funds from Banc de Binary

Withdrawals of funds from your binary trading account are just as easy as depositing. You can use your credit card, bank wire transfer or e-wallet, but other alternative options are available as well. There is a minimum withdrawal amount of $50. No fees are applied when withdrawing.

Banc De Binary Pros

  • Excellent returns
  • User friendly interface platform
  • Good variety of over 190 assets
  • Small investment minimum options

Banc De Binary Cons

  • Does not allow US traders to register an account.

Banc De Binary – Review author

More about the author Step

I’ve wanted to build a business of some kind and earn money since I was in middle school. I wasn’t very successful though until my senior year in highschool, when I finally started to think about doing online business. Nowadays I profitably trade binary options full-time and thus gladly share my experiences with you. More posts by this author

Banc De Binary Details

✅ Broker Banc De Binary
✅ Website URL
✅ Founded 2009
✅ Headquarters Cyprus
✅ Support Number [email protected]
✅ Support Types Live Chat, Skype, Email, Phone
✅ Languages English, Arabic, French, German, Italian, Russian, Spanish, Portuguese
✅ Trading Platform SpotOption
✅ Minimum 1st Deposit $250
✅ Minimum Trade Amount $1
✅ Maximum Trade Amount $8,000
✅ Bonus 100% Introductory Bonus
✅ Payout 91%*
✅ Free Demo Account
✅ Regulated
✅ Regulation CySec, FCA
✅ Account Types Bronze, Silver, Gold, Premium, Platinum, Exlusive
✅ Deposit Methods Visa, Mastercard, Wire Transfer, Skrill (MoneyBookers)
✅ Withdrawal Methods Wire Transfer, Skrill (Moneybookers), Debit/Credit Card
✅ Trading Methods Call and Put Options, One Touch, 60 Second Options, Pairs
✅ Number of Assets 80
✅ Expiry Times 60sec, 15min, 30min, 1hr, 24hr, weekly
✅ Types of Assets Forex, Commodities, Stocks, Indices
✅ Option Types Long-Term, Short-Term, Exotic
✅ Trading Currency USD, EUR
✅ Account Currency USD, EUR
✅ US Traders Allowed
✅ Mobile Trading
✅ Tablet Trading
✅ Overall Score

Show recommended brokers

10 Responses to “Banc De Binary – Honest Review”

Be very careful with these fake binary options brokers, they are the best at taking your money but also making sure you never see it again.

Hello, thank you for sharing your thoughts, but this broker doesn’t exist anymore.

Outstanding post, I think website owners should acquire a lot from this web blog its really user pleasant.
So much excellent info on here :D.

Thank you so much for your comment. We really appreciate your feedback.

Is banc de binary scam or not? I thought it was

Technically – No, not at all. A year ago, though, they have received a fine for accepting US traders. That was against the law, since they did not have a permission to do so.

Oh alright. I have heard they were a scam as well, idk

Banc de Binary might be a bit slower than other websites but it’s definitely the best broker around. With such a name and so many client’s they can’t do anything wrong – it would make them go bankrupt..

So is Banc de Binary open also for clients in EU?

Hi George, yes, Banc de Binary accepts clients from EU. More info here: Banc de Binary EU clients

Banc De Binary Broker Review

This broker is closed.

Banc de Binary Trading Platform

Banc de Binary is easily one of the most known brokers in the world when it comes to binary options trading.

In Banc de Binary review you can see how they are a regulated binary brokerage company.

They are present on binary market and available in South Africa since 2009. Banc de Binary is owned by BDB Services Ltd. with HQ in Limassol, Cyprus.

Below in our Banc de Binary review, read more regarding:

Banc de Binary broker no longer provides binary options bonuses!

Banc de Binary General Info

Banc de Binary uses SpotOption as its preferred trading software. They provide user friendly interface and for South African traders it should be simple to navigate through the site.

Banc de Binary minimum deposit is $250 with highest return going up to 90%. Minimum investment amount is only $1 while maximum investment $6000. South African traders can place trades in following currencies: European Euro, American Dollar and British Pound.

They accept traders from all across the world, including South Africa.

Banc de Binary Trading Features and Services

For the past 6 years, as we will show in Banc de Binary review, they offer trading services and tools for traders across the globe, including South Africans.

Recently, they implemented a whole new design on their platform, which makes it even more user-friendly to interested South African traders.

Thanks to its wide range of trade options and other features, we are not surprised why Banc de Binary is named as leading broker in binary options industry, present on South African market.

During our Banc de Binary review, we were pleasantly surprised how quick customer agent was on live chat and how easy it is to navigate through Banc de Binary trading platform.

Traders from South Africa have on their disposal several different trade options that can be used in trading process with Banc de Binary. These Banc de Binary review trade options are:

60 Seconds – this short term trading within 60 seconds is intended for traders who like excitement and for this reason they invest money in 60 Seconds trade option.

We can say it is riskier trade than long term because here is present a short span of time and traders should be well informed about situation of particular asset to be sure they will place trade on the right direction.

Digital Options Pro – with this trade option, South African traders should be able to decide will an option be higher or lower rate than the one it was entered initially.

Banc de Binary Digital Options Pro offers traders to choose among a variety of underlying assets and expiry times each 10 minutes of an asset on the platform. Trades can be monitored on the trading platform or on trader’s account.

Long Term – besides short term trade options, Banc de Binary provides traders with a long term investments in binary options. Traders who are involved in the trading process and read market news regarding particular underlying assets, prefer this type of trade options. Traders can use few available expiry times,offered by Banc de Binary.

Pairs – Pairs are getting more and more popular in binary options trading. With this option, traders can place 2 different assets against each other and see their performance during trading process.

South African traders can trade with stock pairs or currency pairs, depending on what traders prefer as their chosen underlying assets, such as gold and platinum or google and yahoo.

Banc de Binary gives traders a possibility to trade binary options with the following expiration times: 60 seconds, 15 minutes, 30 minutes, 1 hr and 24 hr +.

In Banc de Binary review, we have seen an impressive list of available underlying assets. With more than 200 different assets, Banc de Binary is one of the top binary brokers in the industry if we compare the asset list with other available brokers.

The whole list of underlying assets in available on Banc de Binary trading platform. We can sort all these assets in 4 main categories, such as stocks, commodities, currencies and indices.

Very popular trading services, provided by this broker, are mobile trading app and demo account.

These services we discovefred during Banc de Binary review. Mobile trading enables traders in South Africa to trade binary options when they are on the go.

Mobile platform is excellent way and it is possible because of the technology improvements and is completely compatible with Android and Apple devices. South African traders can use mobile trading platform on their smartphones and tablets.

The second trading tool available for traders in South Africa is demo account. Banc de Binary review provides traders a great place on trading platform where they can trade binary options at no risk. This way, they are allowed to test many strategies and a large list of underlying assets in demo version also.

Since there is no trading with real money, risk isn’t present and traders can use demo version of platform to improve skills and later on, be more efficient and successful in binary options trading process.

Banc de Binary provides traders in South Africa with an multilingual trading platform which is an indicator of how this broker pays attention to their traders worldwide.

Besides English, South African traders can use platform on Spanish, Russian, French, German, Italian, Portuguese, Dutch and Arabic.

Banc de Binary Trading Accounts

During our Banc de Binary review, we saw there are three available account types for traders worldwide and in South Africa. Account types are clearly stated on Banc de Binary website and each type is well explained, depending on minimum deposit amount and trading features.

Banc de Binary Bronze Account

  • minimum deposit $250
  • webinars available 2x/month

Banc de Binary Silver Account

  • minimum deposit $2500
  • trading alerts and webinars 2x/month
  • 10 days direct communication with Account Manager
  • daily market news

Banc de Binary Gold Account

  • minimum deposit $5000+
  • trading alerts and webinars 2x/month
  • 10 days direct communication with Account Manager
  • daily market news
  • binary trading signals
  • risk free trades
  • money management trading plan

Banc de Binary Customer Support

Customer support is combined with security, the main elements of successful binary options trading.

In Banc de Binary review, we tried email communication and live chat and are happy to inform our readers from South Africa about provided services. Within just seconds, agent answered our questions regarding binary trading and safety of depositing and withdrawing money.

It shouldn’t surprise anyone why this broker is listed as number 1 on our list of best binary brokers in industry. Traders can contact Banc de Binary on email [email protected] .

The new and improved platform shows slightly different way of how to reach Banc de Binary support agents. In upper part of this platform, South Africans can choose between clicking on Get Instant Answer or Urgent Questions for Management.

Under Instant Answers, a new window will open and traders can just type what they are interested about. They will be provided with top 10 articles, where also, they can find needed info under specific topic (accounts, trading basics, how to deposit? etc).

It is also important to emphasize how Banc de Binary review offers traders a great and useful Education Center with multiple trading tutorials, webinars and other mechanisms help that can help traders to be more skilled when trading binary options.

Both new traders as well as professional traders can use their educational assistance in the trading process. Free video courses, FAQ, Lion Academy, financial glossary and many more are available for traders worldwide.

Banc de Binary Banking Info

Banc de Binary review showed us they try to provide traders a high security level in trading binary options.

They use SSL and PCI protection programs, together with few more, which shows how we are talking about trustworthy binary options broker. For traders to be able to deposit with this broker, they have to register on the platform and choose deposit option by their choice and the minimum amount.

Later on, traders will receive message that their account ready for binary options trading.

Traders can make payments with credit cards, bank wire and through e-wallets (Skrill Moneybookers, CashU, QIWI, WebMoney, Yandex.Money etc).

E-wallets are becoming very popular in binary options industry de to its simplicity. Money withdrawal is possible within 3 business days. For traders to be eligible to withdraw funds, they have to send Banc de Binary few documents in order to authenticate identity and prevent possible fraud with personal data.

Documents, such as photo ID, copy of address and credit card should be sent to them. Another great advantage that Banc de Binary offers traders in South Africa is that no fee is charged when withdrawing funds, which is excellent news.

Best Binary Options Brokers 2020:
  • Binarium

    Top Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Education How To Trade!
    Free Demo Account!
    Big Sign-up Bonus!

  • Binomo

    Good Choice For Experienced Traders!

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