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  1. #1
    Junior Member Eddy's Avatar

    Complaint regarding lbinary !!!

    Good Day All.

    I appear to be having a problem with LBinary.

    I am actually trying to close my account with them, but I am just getting the "cold shoulder" from my accounts manager: He ignores my e mails, is not contacting me to make arrangements etc.

    I then tried a different tack, which was to request a withdrawal, leaving a bit more than the minimum deposit in the account, but I am still getting nowhere with them.

    This little "battle" has been going on now for about three weeks, and still no progress. All the money in the account is legitimately mine: there are/were no bonuses involved at any point.

    My question is: as seeing as I understand they operate out of Gibraltar, who can I approach to assist me in putting the "strong arm" on them, also given that they are non regulated?

    I originally went with LBinary, because after researching them, found them to be relatively reputable.

    Any advice/information will be of great assistance.

    Thanks.

  2. #2
    Active Member random's Avatar
    Unfortunately LBinary is a well known scam broker. There are many bad reviews of them on this site and others.

    As for advice: http://www.forexpeacearmy.com/public...ww.lbinary.com

  3. #3
    Moderator Kolyo's Avatar
    Unfortunately there is nothing to be done and unless you succeeded to communicate with them and explain that the money indeed is yours you may not see them again. The biggest problem in the world of binary options in my opinion is not that there are so many scam companies operating, the biggest problem is that more and more inexperienced newbie traders go for a hunt of their BO broker and become the prey. Sad but truth! We are making so much efforts to educate and to analyze the binary industry and to present the best possible selection, but most new traders prefer to make their own “analysis” clicking on google ads or reading some crap review somewhere on the net. That’s why better to educate before sending your hard earned money to the next offshore “company”.
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  4. #4
    Junior Member Eddy's Avatar
    Thanks Random!

  5. #5
    Veteran Member randy1953's Avatar
    Here's a tactic I used with a similar broker and was able to take out around $2k in profits and my $300 deposit.
    It's not being honest but hey you need to fight fire with fire sometimes.

    Maybe this can be better used for advise to any newbie that is setting up a new account with a unknown broker.
    1. Never let them know how much money you will invest with them. Make sure they feel you have a lot more money to invest.
    2. Get on good terms with your account manger. Ask them if they have a trading group using there true professionals to do some trades for you trading big companies like Apple or even Gold. they will comeback and tell you sure we have a great group with around 50 annalists for that kind of trading with over a 90% success rate but it's like a $15k min buy in. Just go along with it as far as words go. Ask them what kind of bonus can you get and so on for $15k. they will say at least $15k. Now bargain with them if they tell you it will be a 50 times account turnover tell them it's too much but you might do a 30 times turnover but only on the bonus money not the deposit. Now remember in truth you just want to take your money out but now they think they have a big fish on the line so you have them hooked.

    So now you tell them you would like to get started with this group and the $15k but you absolutely need to make sure your money is safe.
    For this to happen you will need to do a couple of withdraws so you can experience their withdrawal process.

    The above is exactly what I did with Bloombex Options to be honest I don't feel they would have given me back my money. the idea works very well if you start off this way. I'm not sure about your situation it may be too late in the game for you.

    I suggest any new trader to use this strategy with any broker that not that sure of.
    hope that helps

    I just thought of something that may work for your situation you need a good friend that is pretty good at acting.
    You have your friend call this broker and tell the broker he /she knows little about trading BO but he just got some money and would like to make a lot more money and he saw that with BO you can really make a lot of money.
    your friend tells them that he can only deposit $15k and your friend asks the account manager is that enough to be able to double my money in 2 months or whatever.Now your friend just listens to the big sale pitch he gets from the manager and then your friends tells the broker I need to sleep on it do a little more research and will call back tomorrow.
    the next day your friend calls the same manager back and he tells the manger he was already to pull the trigger but now he mentions that he revived a call from you! Small world. He tells the manger that my good friend Eddy lives in the same town as I do and I went out to the bar last night and he told me he is now trading BO but not to use you guys cause your crooks and he can't get his money back. your friend goes on and tells the manager that you the broker needs to make whatever it is with my friend right or he will not do the deposit and just leave the conversation there and see what happens.
    Last edited by randy1953; 08-22-2015 at 02:31 AM.

  6. Thanks Martin Kay thanked this post
  7. #6
    Administrator Martin Kay's Avatar
    lbinary - lots of bad reviews. I think the best way to get your money back, or at least try, is to complain. Post here, post on FPA, post on YouTube, post on Complaints.com, ripoffreport... complain as much as you can, and send the links to your account manager.

    Or you can also try Randy's method, seems interesting!
    “Don't believe anything you read on the net. Except this. Well, including this, I suppose.” ― Douglas Adams

  8. #7
    Rookie Member
    As I know this broker has closed it services finally.

  9. #8
    Legendry Member Michael Hodges's Avatar
    not so far as I can tell, the website is still live , at least when I go to check it out... but still the same old Lbinary, no info of who they are, where they are located etc...

  10. #9
    Administrator Martin Kay's Avatar
    Quote Originally Posted by Mathilde View Post
    As I know this broker has closed it services finally.
    maybe for USA based clients, but it's running
    “Don't believe anything you read on the net. Except this. Well, including this, I suppose.” ― Douglas Adams

  11. #10
    Solid Member pak12345's Avatar
    Quote Originally Posted by randy1953 View Post
    Here's a tactic I used with a similar broker and was able to take out around $2k in profits and my $300 deposit.
    It's not being honest but hey you need to fight fire with fire sometimes.

    Maybe this can be better used for advise to any newbie that is setting up a new account with a unknown broker.
    1. Never let them know how much money you will invest with them. Make sure they feel you have a lot more money to invest.
    2. Get on good terms with your account manger. Ask them if they have a trading group using there true professionals to do some trades for you trading big companies like Apple or even Gold. they will comeback and tell you sure we have a great group with around 50 annalists for that kind of trading with over a 90% success rate but it's like a $15k min buy in. Just go along with it as far as words go. Ask them what kind of bonus can you get and so on for $15k. they will say at least $15k. Now bargain with them if they tell you it will be a 50 times account turnover tell them it's too much but you might do a 30 times turnover but only on the bonus money not the deposit. Now remember in truth you just want to take your money out but now they think they have a big fish on the line so you have them hooked.

    So now you tell them you would like to get started with this group and the $15k but you absolutely need to make sure your money is safe.
    For this to happen you will need to do a couple of withdraws so you can experience their withdrawal process.

    The above is exactly what I did with Bloombex Options to be honest I don't feel they would have given me back my money. the idea works very well if you start off this way. I'm not sure about your situation it may be too late in the game for you.

    I suggest any new trader to use this strategy with any broker that not that sure of.
    hope that helps

    I just thought of something that may work for your situation you need a good friend that is pretty good at acting.
    You have your friend call this broker and tell the broker he /she knows little about trading BO but he just got some money and would like to make a lot more money and he saw that with BO you can really make a lot of money.
    your friend tells them that he can only deposit $15k and your friend asks the account manager is that enough to be able to double my money in 2 months or whatever.Now your friend just listens to the big sale pitch he gets from the manager and then your friends tells the broker I need to sleep on it do a little more research and will call back tomorrow.
    the next day your friend calls the same manager back and he tells the manger he was already to pull the trigger but now he mentions that he revived a call from you! Small world. He tells the manger that my good friend Eddy lives in the same town as I do and I went out to the bar last night and he told me he is now trading BO but not to use you guys cause your crooks and he can't get his money back. your friend goes on and tells the manager that you the broker needs to make whatever it is with my friend right or he will not do the deposit and just leave the conversation there and see what happens.
    I agree with randy as I have experienced the same and now I am regretting that I have told the exact investment amount to my manager who called me yesterday. He promised me to send some learning stuff but after knowing the amount he seems disappointed though the amount was more than 500 $, now its being 24 hours I am still looking my inbox for his training materials which are still not received as promised by him.

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