Binary Options Scam by Jacques Picard

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Hi
I opened an account with BinaryBook on April 6 2015, with a $500 deposit . In may I deposited an additional $5000 to my account. At that point a 10000$ bonus was added (without any request from my side) to the account that was managed by one of the brokers (Mr Curtis).

In August 4 , the balance in my account was $15981.25. I asked to close the account and to withdraw $5981 (the balance less the bonus). It took two weeks of dramatic efforts from my side to have the withdrawal approved, but only $5500 was returned to me. When I made a request for the remaining $481, it was turned down as you will see from the copy of exchanged mailings I had with the Binarybook company, that I have added following this letter. From what you will see, I just risked my money for nothing, because I did not know (and was not warned), that this bonus was a poisoned gift. I would be very grateful If you could tell me what is possible to do to obtain this money.

I also think that the public should be warned of this type of scam, and the questionable practices of Binarybook.

Thank you in advance.

Yours truly.

Jacques Picard

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Subject: RE: Account 53043
Andy Collins AUG 31, 2015 | 12:32AM GST
Dear jacques picard,
Thank you for reverting back to us.
Kindly note that when you registered on the platform, you were awarded a bonus of $10000 by your expert trader. .
With the help of the bonus, you have been able to trade and gain profits.
Thus, if you intend to withdraw your profits, you have to complete a bonus turn over of $600,770.
For more information concerning the bonus turn over, please click on the following link (section 14):
https://www.binarybook.com/terms-and-conditions/
Thank you for your comprehension.
Regards,
Andy Collins
BinaryBook Finance Department

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jacques AUG 30, 2015 | 10:43PM GST
Mr Collins
Your letter is an insult to intelligence.

You tend to forget that I did invest and risked my own money in those transactions, so the gains are not strictly a consequence of the bonus.
Furthermore, had things turned out differently, and if my balance had been, when my withdrawal request was done, below $15500, you would have deducted the entire loss from my deposit and not from the bonus.
So in the hypothetical situation, in which my balance on August 4th (when my request for withdrawal was done), had been $15000, you would have reimbursed me only $5000 and not $5500.
In other words your interpretation of the ambiguous and misleading terms of the contract with your customers is the following: whenever you give a bonus, if at the end of the game there are losses , it is for the client, and if there are gains it is all yours, unless the customer is ready to gamble his money further up to a ridiculous amount (in my case more than $600000 worth of transactions), in a loaded game that is balanced in your favor, since when a transaction ends up as a win, you take at least 15% of the gain and if it ends up as a loss, it is entirely borne by the client. All this within a context where the likelihood of a gain or a loss on a transaction is, a priori 50%.
What is even more scandalous is that you do not even ask the client if he or she wants to be granted the bonus. It is done automatically, without informing him or her of the serious drawbacks associated with it.
If I also take into considerations, all the (well documented) hardships I had to bear, in order to recover my deposit from you, I can only conclude that your whole operation is a con trick that has to be reported to the proper authorities.

Jacques picard

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De : BinaryBook Finance Department
Envoyé : Saturday, August 29, 2015 1:24 AM
À : [email protected]
Objet : Re: Account 53043

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Andy Collins AUG 28, 2015 | 02:23AM GST
Dear jacques picard,
Thank you for reverting back to us.
Kindly note that when you registered on the platform, you were awarded a bonus of $10000 by your expert trader. .
With the help of the bonus, you have been able to trade and gain profits.
Thus, if you intend to withdraw your profits, you have to complete a bonus turn over of $600,770.
For more information concerning the bonus turn over, please click on the following link (section 14):
https://www.binarybook.com/terms-and-conditions/
Thank you for your comprehension.
Regards,
Andy Collins
BinaryBook Finance Department

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jacques AUG 28, 2015 | GST

Hi.

I do not accept your interpretation of your own terms and conditions that
are by the way poorly drafted.

The minimum turnover requirement (section14 (4)) applies for withdrawal of
the bonus itself, and not of the earnings produced by the investment.

As you now there exists in British law the principle of interpretation
against the drafter, in case of an ambiguity in a contract.

I invested with you $5500 and you added automatically. $10000 as a bonus
without even asking for my agreement, and without any warning of the
negative potential consequences , as required by law.

From all the transactions that were done on the account you made a profit of
more than $2000 ($2059 to be correct) in less than two months, for an
investment of $10000

Furthermore, had the account incurred a loss, you would have deducted the
lost amount from the original deposit withdrawal, so you put yourself in a
situation whereby if there is a loss it is mine, and if there is again it is
yours.

I any case you already removed the bonus from my account, so the section 14
(4) does not apply anyway

The conclusion is that you are trying again to avoid paying what you owe.

I am tired of your tricks, so you should know that, unless I obtain from you
the $ 481amount within 3 working days following the reception of this
letter, I will take any available legal measure, in order to recover what is
due to me, and to make sure that everybody considering investing with you
knows what he or she is facing.

Truly,

Jacques Picard

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De : BinaryBook Finance Department
Envoyé : Thursday, August 27, 2015 11:51 PM
À : [email protected]
Objet : Withdrawal Request – 53046

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Hans Adler AUG 27, 2015 | 12:49AM GST
Dear jacques picard,
Kindly note that we have received your request to withdraw 481.00$ from your BinaryBook account.
Your withdrawal request has been canceled because you have not yet completed the Bonus turnover according to the terms & conditions of the website. For more information about the bonus you can refer our terms and conditions.
If you have enabled auto trading in your account, please deactivate it and contact us contact us at [email protected] or by replying to this email for us to assist you further.
Thank you
Regards,
Hans Adler
BinaryBook Finance Department

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This message was sent to [email protected] in reference to Case #: 90976.

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