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Revision as of 13:00, 17 October 2013 view sourceHistorianofRecenttimes (talk | contribs)130 edits more paragraphs and correct location of the company in Petach Tikvah Israel← Previous edit Revision as of 13:01, 17 October 2013 view source WikiDan61 (talk | contribs)Extended confirmed users, New page reviewers, Pending changes reviewers103,047 edits Reverted to revision 577564272 by Pinkbeast (talk): Rv non-neutral original research. (TW)Next edit →
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| type = Private | type = Private
| foundation = 2009 | foundation = 2009
| location = ] | location = ]
| key_people = Oren Shabat Cohen<ref name=cftc>{{cite web|url=http://www.cftc.gov/ucm/groups/public/@lrenforcementactions/documents/legalpleading/enfbanccomplaint060513.pdf|title=U.S. COMMODITY FUTURES TRADING COMMISSION v. BANC DE BINARY LTD. (A/K/A E.T. BINARY OPTIONS LTD.), COMPLAINT FOR INJUNCTIVE AND OTHER EQUITABLE RELIEF AND FOR CIVIL MONETARY PENALTIES UNDER THE COMMODITY EXCHANGE ACT AND COMMISSION REGULATIONS|quote=Banc de Binary's chief executive officer, Oren Shabat Cohen (a/k/a Oren Laurent), resides in Israel and is the registrant for the website www.bbinary.com.}}</ref><ref>BANCDEBINARY.COM whois record, retrieved 2013-10-15. "Registrant Name: Oren Shabat Cohen"</ref> (also known as Oren Laurent), CEO and Sarah Fenwick, Head of Communications | key_people = Oren Shabat Cohen<ref name=cftc>{{cite web|url=http://www.cftc.gov/ucm/groups/public/@lrenforcementactions/documents/legalpleading/enfbanccomplaint060513.pdf|title=U.S. COMMODITY FUTURES TRADING COMMISSION v. BANC DE BINARY LTD. (A/K/A E.T. BINARY OPTIONS LTD.), COMPLAINT FOR INJUNCTIVE AND OTHER EQUITABLE RELIEF AND FOR CIVIL MONETARY PENALTIES UNDER THE COMMODITY EXCHANGE ACT AND COMMISSION REGULATIONS|quote=Banc de Binary's chief executive officer, Oren Shabat Cohen (a/k/a Oren Laurent), resides in Israel and is the registrant for the website www.bbinary.com.}}</ref><ref>BANCDEBINARY.COM whois record, retrieved 2013-10-15. "Registrant Name: Oren Shabat Cohen"</ref> (also known as Oren Laurent), CEO and Sarah Fenwick, Head of Communications
| industry = ] | industry = ]
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==History== ==History==
⚫ In an interview, Oren Shabat Cohen stated that by June 2011 the company had around 20,000 client accounts,<ref name=IU>{{cite web |url=http://investmentunderground.com/6882/featured/banc-de-binary-ceo-oren-laurent-opens-up-on-binary-options/|date=27 May 2013|first=Susan|last=Wright|title=Banc De Binary CEO Oren Laurent Opens Up on Binary Options |publisher= Investment Underground |accessdate=Aug 11 2013}}</ref> and in an open letter published by August 2012, he stated that number was then 200,000.<ref name="BOD1">{{cite web |url=http://www.binaryoptionsdaily.com/2012/08/27/banc-de-binarys-ceo-oren-laurent-expresses-sincere-thanks/|title=Banc De Binary’s CEO Oren Laurent Expresses Sincere Thanks |publisher= BinaryOptionsDaily.com |accessdate=Aug 11 2013}}</ref>

Banc de Binary is an alleged example of what might be called a post-modern scam. This is because it utilized social media such as Linkedin and Facebook, instant messenger and the Internet to fulfil it’s alleged aims. Facebook and Linkedin<ref>http://cy.linkedin.com/pub/oren-laurent/31/96b/893</ref> pages was set up for the founder Oren Shabat Cohen, an Israeli citizen, resident in Israel, giving him a new, but impressive identity as Oren Laurent, a former NY trader who after becoming disillusioned with the greed on Wall Street had set up a more ethical trading company<ref>https://www.facebook.com/pages/Oren-Laurent/151284748369805</ref><ref>http://www.investing.com/brokers/banc-de-binary/press-releases/oren-laurent,-ceo-of-banc-de-binary.-the-next-generation-of-financier.-153769</ref>. The company also used the Internet to buy virtual offices around the world, to appear to have a global presence. It was this final act that let to the unravelling of the fraud, but only after numerous complaints from US residents.


Until late 2012 Banc de Binary claimed to have an office in Trump Towers, NY<ref>http://www.thisismoney.co.uk/money/investing/article-2407941/TONY-HETHERINGTON-US-watchdog-takes-bank-Banc-Binary-court--Britain-lets-in.html</ref>, which meant that the CFTC and SEC must regulate it like any other binary trading company or entity offering financial services. This means two things in essence. Firstly it has to follow certain rules, such as checking that a potential client has enough finances, by carrying out credit checks and then ensuring their own subsequent trading is fair and that the prices of assets is correct and free from manipulation. Secondly and more importantly the CTFC, SEC and FCA<ref>http://www.fsa.gov.uk/register/firmIndivSearch.do?sid=314566</ref> would have a list of names of relevant individuals with their work history from Banc de Binary, who were responsible for essential parts of the business such as compliance. This would be impossible for Banc de Binary, where even the founder gave interviews with a fake name and work history<ref>http://www.investing.com/brokers/banc-de-binary/press-releases/oren-laurent,-ceo-of-banc-de-binary.-the-next-generation-of-financier.-153769</ref>.


Once the CFTC and SEC began investigating in late 2012, Banc de Binary dropped its Wall Street address and gave a Cypriot one instead<ref>http://www.thisismoney.co.uk/money/investing/article-2407941/TONY-HETHERINGTON-US-watchdog-takes-bank-Banc-Binary-court--Britain-lets-in.html</ref>. It gained a licence from CySEC, although in Cypriot law, only a Bank may use the word ‘Bank’, in any form or variation.


The CFTC and SEC charges reveal how clients were systemically contacted by messenger and other means<ref>http://www.cftc.gov/ucm/groups/public/@lrenforcementactions/documents/legalpleading/enfbanccomplaint060513.pdf</ref>; hence it’s description of as a boiler room scam<ref>http://www.sec.gov/litigation/litreleases/2013/lr22767.htm</ref>. It is different from a boiler room scam in one key respect, in that it utilizes young unemployed people from its local area, who may not realise at first they are engaged in illegal activities.


Since the financial crisis of 2009, many young people have left university unable to find work in the financial markets, and youth unemployment has been high internationally. As a result young unemployed graduates are particularly vulnerable to scams, which often start by being invited to interviews directly after posting their CVs on job boards, or in the case of Banc de Binary, by spotting a vague but glamorous sounding job advert. An online advert for vacancies at Banc de Binary’s Israeli call centre (boiler room) was spotted and followed a familiar pattern:


Job advert for Banc de Binary
Binary Options Investment Bank seeks to build a diverse team of financial professionals from a variety of backgrounds. We are looking for professional sales candidates that are motivated to sell and to learn, without dealing with the pressures of a commissioned only based sales force and are passionate about teamwork. Online Financial Sales Brokers will have the opportunity to build advanced sales skills in the Binary Options Market as part of the Client Sales Team. Online Financial Sales Brokers must follow world financial markets while interacting in real-time with current and prospective clients.
• Drive sales for our Binary Options Retail and Institutional products and services
• Build and maintain relationships with clients without cold calling. (Relevant leads are provided on a daily basis)
• Develop new opportunities within existing client base
• Use an intelligent soft sales approach to communicate the benefits of our trading platform, and the FX market to prospective clients
• Discuss the financial markets and what major factors move them
• Provide support for self-trading Binary Option clients from all over the world
• Other duties as assigned
Training: Candidates who are hired will attend a 2 week training program in our office. Upon completion of training they will be required to work from 10am – 7pm on a daily basis from Monday – Friday as a full time sales role.
Please note that we recruit for this position on an on-going basis in order to build a talent pool of potential candidates. When a position becomes available, we will review applicants at that time. Due to the volume of resumes that we receive, only those candidates selected for interviews will be contacted. Thank you for your interest.

Qualifications:
• Must be eligible to work in Israel
• Must have prior phone sales experience
• Must have prior experience in the forex market or binary options market
• The candidate must obtain at least $50, 000 in deposits from clients within 90 days of hire (training provided)
• Bachelors degree in a related area with a minimum GPA of 3.0
• Flexible to work any shift including weekends!
• Ability to write and speak persuasively and clearly
• Able to think quickly and problem-solve in real-time
• Able to demonstrate a strong interest and passion for financial markets, international affairs and geopolitical events
• Follow world financial markets while interacting in real-time with current and prospective clients.
• Experience in the financial markets a plus!
• Must not be over 35 years of age.

Compensation:
• First 3 Months: 6, 000 NIS + 4% of Total Deposits (Minimum monthly deposit amount is $50, 000)
• 3rd Month and onwards: 6, 000 NIS + 4% of Total Deposits + Company Car + Gas + Insurance + Mobile Phone (Must achieve $80, 000 in client deposits on monthly average)

Average Broker Salary: 22, 800 NIS per month + Car + Phone + Gas + Insurance ($120, 000 in deposits on average per broker)


A genuine financial services company would not require an age limit, but would value experience of the markets. Furthermore It would also be unusual for a genuine company to need to recruit externally of it’s website, or an approved recruitment agency, as real jobs in financial services require specific knowledge of financial rules and are highly sought after, making advertisements such as this unnecessary and a so a possible indicator of fraud.


The company is run from Petach Tikvah, Israel, although it claims a presence in Cyprus, US regulators stated it was an Israeli company<ref>http://www.cftc.gov/ucm/groups/public/@lrenforcementactions/documents/legalpleading/enfbanccomplaint060513.pdf</ref>. Following this and other recent Cypriot financial crises, CySEC changed the law on foreign run entities saying that they would either need to be based in Cyprus or leave<ref>http://forexmagnates.com/get-out-cysec-bans-fx-firms-from-accepting-non-eu-clients/</ref>. Banc de Binary is based in Petach Tikvah, Israel, where ironically Binary Trading is regarded as gambling, so illegal. CySEC, along with FCA assisted the CFTC and SEC in their investigation<ref>http://www.leaprate.com/forex-industry-news/entry/cftc-goes-after-banc-de-binary.html</ref>.


As with almost all alleged boiler room scams<ref>http://www.investopedia.com/ask/answers/04/080604.asp</ref>, from the point of hiring they work in exactly the same way. The selected young people all work together in one call centre, and they are told to give themselves a fake name and identity. Clients are called and messaged repeatedly<ref>http://www.cftc.gov/PressRoom/PressReleases/pr6602-13</ref> until they submit or vanish. Staff will listen to the client and show empathy. For example, if the client has children, then they have children, if the client has a puppy, then they have one too. In the case of Banc de Binary, the company claimed its North American broker was a man called James Wharton, but this man does not exist. If he did he would have been listed along with his employment history on the FCA’s/ CySEC’s/ CFTC’s list of names of people at the company<ref>http://www.fsa.gov.uk/register/firmIndivSearch.do?sid=314566</ref</ref>. Employers are paid a salary and expected to make a certain number of sales or deals, or their employment is terminated. A commission is paid with each successful deal, which has the effect of making the employee more embedded in the alleged fraud, as the commission comes out of the clients’ money. It is different from a pyramid scheme, as no or very little money is actually returned to initial investors, although the employee base remains the same, of young, unemployed graduates, affected by the 2009 Financial meltdown.


When the Daily Mail’s journalist Paul Hetherington investigated Banc de Binary their head of compliance, Lauren O’Connor, contacted him<ref>http://www.thisismoney.co.uk/money/investing/article-2407941/TONY-HETHERINGTON-US-watchdog-takes-bank-Banc-Binary-court--Britain-lets-in.html</ref>. Lauren O’Connor does not exist, and is simply a pseudonym for Oren Shabat Cohen, if she did she would be listed on CySEC and the FCA’s site along with her work history, as she is the Head of Compliance and therefore a required name on the FCA register<ref>http://www.fsa.gov.uk/register/firmIndivSearch.do?sid=314566</ref>. The case identified by the Daily Mail is typical of the alleged scam. Once the clients have been persuaded to invest in the company or it’s platform and handed over their money, there is no realistic way that they can get it back, as withdrawals are simply unprocessed and ignored<ref>http://www.thisismoney.co.uk/money/investing/article-2407941/TONY-HETHERINGTON-US-watchdog-takes-bank-Banc-Binary-court--Britain-lets-in.html</ref>. As the CFTC and SEC charges state, the platform the clients trade on is manipulated<ref>http://www.cftc.gov/PressRoom/PressReleases/pr6602-13</ref>, so it would be unlikely anyone would make money from trading with Banc de Binary.


Paul Hetherington’s Daily Mail investigation revealed how Banc de Binary was able to steal $25, 000 from the client’s account in 4 smaller sums<ref>http://www.thisismoney.co.uk/money/investing/article-2407941/TONY-HETHERINGTON-US-watchdog-takes-bank-Banc-Binary-court--Britain-lets-in.html</ref>. When challenged Banc de Binary would not deal directly with Paul Hetherington put asked a London PR company to instead. Banc de Binary then claimed they had not stolen the money, but that the client had lost it trading, although the client had an email showing that he had asked for his money back<ref>http://www.thisismoney.co.uk/money/investing/article-2407941/TONY-HETHERINGTON-US-watchdog-takes-bank-Banc-Binary-court--Britain-lets-in.html</ref>. Lloyds TSB refunded the clients money<ref>http://www.thisismoney.co.uk/money/investing/article-2407941/TONY-HETHERINGTON-US-watchdog-takes-bank-Banc-Binary-court--Britain-lets-in.html</ref> as it was taken from his account without permission. The CFTC and SEC charges allege similar claims from US customers<ref>http://www.cftc.gov/PressRoom/PressReleases/pr6602-13</ref>. The CFTC also charges Banc de Binary with identity theft as referred to in their indictment.<ref>http://www.cftc.gov/PressRoom/PressReleases/pr6602-13</ref>.


⚫ In an interview, Oren Shabat Cohen stated that by June 2011 the company had around 20,000 client accounts,<ref name=IU>{{cite web |url=http://investmentunderground.com/6882/featured/banc-de-binary-ceo-oren-laurent-opens-up-on-binary-options/|date=27 May 2013|first=Susan|last=Wright|title=Banc De Binary CEO Oren Laurent Opens Up on Binary Options |publisher= Investment Underground |accessdate=Aug 11 2013}}</ref> and in an open letter published by August 2012, he stated that number was then 200,000.<ref name="BOD1">{{cite web |url=http://www.binaryoptionsdaily.com/2012/08/27/banc-de-binarys-ceo-oren-laurent-expresses-sincere-thanks/|title=Banc De Binary’s CEO Oren Laurent Expresses Sincere Thanks |publisher= BinaryOptionsDaily.com |accessdate=Aug 11 2013}}</ref>.


In January 2013, the company became the first regulated binary options broker, accepting ] regulation offered by ],<ref name="CYSEC">{{cite web |url=http://www.cysec.gov.cy/licence_members_1_en.aspx|title=Regulated Investment Firms – CySEC |publisher= CySEC |accessdate=Aug 11 2013}}</ref><ref name="FinMir">{{cite web |url=http://www.financialmirror.com/news-details.php?nid=29363|title=Banc De Binary is first Binary Options Broker in EU |publisher= Financial Mirror |accessdate=Aug 11 2013}}</ref> and at the same time it stopped accepting new client accounts from the United States to begin negotiations with the CFTC for binary options regulation in the United States.<ref name="BONET">{{cite web |url=http://www.binaryoptions.net/banc-de-binary-quits-us-for-now/|title=Banc De Binary Quits US (For Now) |publisher= BinaryOptions.net |accessdate=Aug 11 2013}}</ref> Banc de Binary claimed to have an office in NY at Trump Towers, but this was in fact a virtual office space with no significant physical presence. <ref name="seccomplaint">{{cite web|url=https://www.sec.gov/litigation/complaints/2013/comp-pr2013-103.pdf|title=SECURITIES AND EXCHANGE COMMISSION vs. BANC DE BINARY LTD, complaint|quote=Banc de Binary maintained a virtual office on Wall Street}}</ref> Trading and offering financial services to US consumers without gaining a license first from US regulators is illegal, as it would mean the client would have no protection. In January 2013, the company became the first regulated binary options broker, accepting ] regulation offered by ],<ref name="CYSEC">{{cite web |url=http://www.cysec.gov.cy/licence_members_1_en.aspx|title=Regulated Investment Firms – CySEC |publisher= CySEC |accessdate=Aug 11 2013}}</ref><ref name="FinMir">{{cite web |url=http://www.financialmirror.com/news-details.php?nid=29363|title=Banc De Binary is first Binary Options Broker in EU |publisher= Financial Mirror |accessdate=Aug 11 2013}}</ref> and at the same time it stopped accepting new client accounts from the United States to begin negotiations with the CFTC for binary options regulation in the United States.<ref name="BONET">{{cite web |url=http://www.binaryoptions.net/banc-de-binary-quits-us-for-now/|title=Banc De Binary Quits US (For Now) |publisher= BinaryOptions.net |accessdate=Aug 11 2013}}</ref> Banc de Binary claimed to have an office in NY at Trump Towers, but this was in fact a virtual office space with no significant physical presence. <ref name="seccomplaint">{{cite web|url=https://www.sec.gov/litigation/complaints/2013/comp-pr2013-103.pdf|title=SECURITIES AND EXCHANGE COMMISSION vs. BANC DE BINARY LTD, complaint|quote=Banc de Binary maintained a virtual office on Wall Street}}</ref> Trading and offering financial services to US consumers without gaining a license first from US regulators is illegal, as it would mean the client would have no protection.

Revision as of 13:01, 17 October 2013

Banc De Binary
Company typePrivate
IndustryFinancial Services
Founded2009
HeadquartersLimassol, Cyprus
Key peopleOren Shabat Cohen (also known as Oren Laurent), CEO and Sarah Fenwick, Head of Communications
ProductsBinary Option Trading
Number of employeesunknown
Websitewww.bancdebinary.com/

Banc De Binary, also known as ET Binary Options Ltd., is a Cyprus-based private option broker specializing in the trade of binary options (also known as fixed return options) on assets including commodities, stocks, indices, and foreign exchange. The company serves retail and institutional customers worldwide, where not prohibited by local regulation, which following a recent ruling by CySEC is only inside the EU. It is regulated by the Cyprus Securities Exchange Commission In the same press release the CFTC warned of "fraudulent schemes involving binary options and their trading platforms". An investigation by the British Daily Mail newspaper journalist Tony Hetherington alleged that one client alone had $25,000 stolen from his bank account after signing up with them. The CFTC and the SEC have frozen all US accounts until further notice.

According to the CFTC, which with the SEC in June 2013 charged the company with violations of US financial services regulations, Banc de Binary operates an online trading website through which customers can buy or sell binary ("call" or "put") options, predicting whether the price of a certain commodity will increase or decrease in a given time period.

The Wall Street Journal described it as "a website that allows people to bet on the price of gold, oil or stocks".

History

In an interview, Oren Shabat Cohen stated that by June 2011 the company had around 20,000 client accounts, and in an open letter published by August 2012, he stated that number was then 200,000.

In January 2013, the company became the first regulated binary options broker, accepting European Union regulation offered by CySEC, and at the same time it stopped accepting new client accounts from the United States to begin negotiations with the CFTC for binary options regulation in the United States. Banc de Binary claimed to have an office in NY at Trump Towers, but this was in fact a virtual office space with no significant physical presence. Trading and offering financial services to US consumers without gaining a license first from US regulators is illegal, as it would mean the client would have no protection.

Banc De Binary's new home page.
Banc De Binary's new home page.

On June 6, 2013, Banc De Binary was charged by both the CTFC and SEC for alleged violations of US financial regulations.

Regulation

Banc De Binary was licensed as an investment firm by the Cyprus Securities and Exchange Commission (CySEC) on 7 January 2013. The Financial Services Register maintained by the UK's Financial Conduct Authority states that from 25 February 2013 the company "is authorised or registered by ... ... and may be subject to limited regulation by the Financial Conduct Authority". The company has similar licences in Germany, Italy, France, and Spain. In accordance with the European Markets in Financial Instruments Directive (MiFID), the company has "passported" into almost all member states of the EEA; MiFID allows companies to provide financial services primarily regulated by their home state rather than the state where the customer resides, but clients based in other countries would receive nothing if the company collapsed. In the US, binary trading is legal, but only with registered organizations such as NADEX, who follow strict rules on transparency and client capital.

Products and services

Banc De Binary's One Touch trading Platform.
Banc De Binary's One Touch trading Platform.

The company offers several products and services. Traders can trade on over 200 global assets including commodities, stocks, indices, and FOREX using several variations of the trading platform including classic binary options, long term options, sixty seconds, one touch (boundary options), and pairs trading.

Awards

  • 2013, Best Binary Options Broker in the Middle East 2013, JFEX
  • 2012, Best Binary Options Customer Service, ForexTraders
  • 2011, World Finance 100, World Finance Magazine
  • 2011, Best Customer Service, FX Empire
  • 2011, Broker of the Year, Binary Options Daily
  • 2011, Platform of the Year, Binary Options Daily

US regulatory issues

On 6 June 2013, Banc De Binary was charged by both the CTFC and SEC for alleged violations of US financial regulations. Both the CTFC and SEC working in conjunction with one another filed civil suits against the company, seeking disgorgement, financial penalties and other preliminary and permanent injunctions against the company. In civil suits filed in Nevada, the SEC and CTFC allege that the company was offering off-exchange traded options to US customers and unlawfully solicited US customers to buy and sell options. The CTFC and SEC's suit also alleges that it did not limit its offerings to eligible contract participants, contrary to US regulations. In response to the US charges the company put out a statement that made no mention of its legal problems, but instead incorrectly implied that they were in negotiations and that they had voluntarily left the US market, when in fact the SEC had taken an injunction out to stop them:

In a message posted on its Web site, the company stated that

Banc De Binary is voluntarily discontinuing its operations in the United States. The United States Commodity Futures Trading Commission and Securities and Exchange Commission have asserted that Banc De Binary is not permitted to offer its binary option products to U.S. residents without registering with those agencies. We are currently in discussions with the CFTC and SEC about these issues, but in the interim, we have discontinued all business with U.S. residents.

Investor advisories

Banc De Binary has a file with the United States' Better Business Bureau that was opened in 2010. It is no longer accredited, because "The BBB reports that Banc De Binary has informed them that they no longer operate any offices in the United States." Previously, it had been rated "F" due to the amount of time it had been in operation and for failing to respond to 5 of 11 customer complaints.

It appears on the US Securities and Exchange Commission's "List of Unregistered Soliciting Entities That Have Been the Subject of Investor Complaints".

In Canada, it is listed on the Ontario Securities Commission's Investors Warning List of "companies that appear to be engaging in activities that may pose a risk to investors".

After receiving "at least one complaint from a Québec investor who was unable to recover his investment", the Autorité des marchés financiers (AMF) warned investors about the company, saying that the AMF

is urging investors to be cautious about Banc de Binary

It noted that a bonus of 50% of the opening deposit is available, but customers who accept the bonus are not allowed to make withdrawals until they have made trades equal to 20 times their initial deposit. The AMF also pointed out that, due to the “all or nothing” nature of binary options, an investor who wrongly predicts market movement will lose his entire investment. Banc De Binary is not registered with the AMF and does not specifically target investors in Québec. The AMF also, like the CFTC, included a more general warning about the risk of fraud in binary options trading in the same press release.

External links

References

  1. ^ "U.S. COMMODITY FUTURES TRADING COMMISSION v. BANC DE BINARY LTD. (A/K/A E.T. BINARY OPTIONS LTD.), COMPLAINT FOR INJUNCTIVE AND OTHER EQUITABLE RELIEF AND FOR CIVIL MONETARY PENALTIES UNDER THE COMMODITY EXCHANGE ACT AND COMMISSION REGULATIONS" (PDF). Banc de Binary's chief executive officer, Oren Shabat Cohen (a/k/a Oren Laurent), resides in Israel and is the registrant for the website www.bbinary.com.
  2. BANCDEBINARY.COM whois record, retrieved 2013-10-15. "Registrant Name: Oren Shabat Cohen"
  3. Get Out! CySEC Bans FX Firms From Accepting Non-EU Clients. Forex Magnates. Retrieved on 2013-10-16.
  4. ^ "Regulated Investment Firms – CySEC". CySEC. Retrieved Aug 11 2013. {{cite web}}: Check date values in: |accessdate= (help)
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  6. ^ TONY HETHERINGTON: US watchdog takes 'bank' Banc de Binary to court...but Britain lets it in. This is Money. Retrieved on 2013-10-16.
  7. "Regulators Sue Prediction Site, Allege Illegal Options". Wall Street Journal. Retrieved 11 June 2013.
  8. Wright, Susan (27 May 2013). "Banc De Binary CEO Oren Laurent Opens Up on Binary Options". Investment Underground. Retrieved Aug 11 2013. {{cite web}}: Check date values in: |accessdate= (help)
  9. "Banc De Binary's CEO Oren Laurent Expresses Sincere Thanks". BinaryOptionsDaily.com. Retrieved Aug 11 2013. {{cite web}}: Check date values in: |accessdate= (help)
  10. "Banc De Binary is first Binary Options Broker in EU". Financial Mirror. Retrieved Aug 11 2013. {{cite web}}: Check date values in: |accessdate= (help)
  11. "Banc De Binary Quits US (For Now)". BinaryOptions.net. Retrieved Aug 11 2013. {{cite web}}: Check date values in: |accessdate= (help)
  12. "SECURITIES AND EXCHANGE COMMISSION vs. BANC DE BINARY LTD, complaint" (PDF). Banc de Binary maintained a virtual office on Wall Street
  13. ^ "Banc De Binary: Gets Charged by the CTFC". ForexMagnates. Retrieved 19 June 2013.
  14. ^ "CTFC files civil suit against Banc De Binary". The Fx View. Retrieved 19 June 2013.
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  16. "Financial Services Register 2013". Bank of England Financial Services Register. Jun 2013. Retrieved 8 July 2013.
  17. BaFin. "BaFin – Unternehmensdatenbank BaFin" (in Template:De icon). Portal.mvp.bafin.de. Retrieved 2013-08-17.{{cite web}}: CS1 maint: unrecognized language (link)
  18. "Consob". Consob.it. Retrieved 2013-08-17.
  19. "Fiche agent financier – REGAFI – Registre des agents financiers". Regafi.fr. Retrieved 2013-08-17.
  20. "CNMV – Empresas de servicios de inversión extranjeras en libre prestación". Cnmv.es. 2013-01-24. Retrieved 2013-08-17.
  21. "Cypriot Investment Firm offering cross-border services to Member States". CySEC. Retrieved Aug 11 2013. {{cite web}}: Check date values in: |accessdate= (help)
  22. "Binary Option". investopedia.com. Retrieved Aug 11 2013. {{cite web}}: Check date values in: |accessdate= (help)
  23. "60 Second Binary Option Trading Strategy". Nancy Eleutheriou. Retrieved Aug 11 2013. {{cite web}}: Check date values in: |accessdate= (help)
  24. "One-Touch Option". investopedia.com. Retrieved Aug 11 2013. {{cite web}}: Check date values in: |accessdate= (help)
  25. "JEFX AWARD 2013 Winners". Jordan Forex Expo and Award 13. Retrieved Aug 11 2013. {{cite web}}: Check date values in: |accessdate= (help)
  26. "FOREX industry celebrates the JFEX 2013 awards winners". ICN.com. Retrieved Aug 11 2013. {{cite web}}: Check date values in: |accessdate= (help)
  27. "Forex Traders". ForexTraders.com. Retrieved Mar 1 2013. {{cite web}}: Check date values in: |accessdate= (help)
  28. "Banc De Binary World Finance 100 Profile". World Finance 100. Retrieved Aug 11 2013. {{cite web}}: Check date values in: |accessdate= (help)
  29. "FXEmpire". FXEmpire. Retrieved Jan 1 2013. {{cite web}}: Check date values in: |accessdate= (help)
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  31. ^ "SEC Warns Investors About Binary Options and Charges Cyprus-Based Company with Selling Them Illegally in U.S." Securities Exchange Comission. Retrieved 19 June 2013. Cite error: The named reference "SEC" was defined multiple times with different content (see the help page).
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