AMF urges Banc de Binary clients to close accounts


French AMF recommends Banc de Binary clients to close accounts, following the CySEC Banc de Binary License cancellation announcement. It seems like, Banc de Binary story is yet to be over.

30 January, AtoZForex – One of the largest brokerages operating in the Binary Options sector, Banc De Binary, has been facing various issues over a recent period of time. Among the latest events is the renouncement of its license issued by the Cyprus Securities and Exchange Commission (CySEC) along with the possible shutdown of Banc de Binary. Following the news, the France’s Autorité des Marchés Financiers (AMF) advised investors to close their accounts opened with the broker.

Regulators actions against Banc de Binary

Banc de Binary runs its operations through the website eu.bancdebinary.com. On the 9th of January, the Cypriot regulator, CySEC informed about the decision of Banc de Binary to cancel its license with the regulator. Prior to this announcement, the International Financial Services Commission of Belize (IFSC) issued an alert against Banc de Binary Services (Belize) Ltd, informing about the termination of a broker’s license.

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In 2016, both CySEC and the US Securities and Exchange Commission (SEC) imposed charges against Banc de Binary. While English Premier League football club Southampton FC declined its partnership with Banc de Binary. Furthermore, in the beginning of January AtoZForex received the news that Banc de Binary supposedly closing its doors. As firm’s reputation among clients worsened.

Banc de Binary clients to close accounts

Following all these events along with broker’s decision to renounce its CySEC license, the AMF advised investors who have opened an account with the firm to send a registered letter to Banc de Binary Ltd and a copy of this letter to the CySEC requesting to close their account(s). Also, to compensate any balances, and, depending on the situation, put forward a complaint.

All in all, AtoZForex recommends investor to commit their funds with regulated reliable brokers. You can check the list of AtoZForex Approved Forex Brokers that have passed our tests confirming their credibility.

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