Is Banc de Swiss Legit?
Should you open an account with this binary broker?
Binary options is an excellent investment for online traders. Of course, it involves risk, and one such risk is choosing a company that isn’t trustworthy. Compare Banc de Swiss to the leading binary options brokers and understand the differences. Should you consider Banc de Swiss as the destination of your deposit? We help you figure that out.
Banc de Swiss vs Top Brokers
The trading models implemented by brokers such as TopOption and Optionbit have redefined the binary trading field. Hopefully Banc de Swiss will implement similar tools and begin making changes that allow customers a better chance to earn money. Top brokers have concentrated their efforts on three specific aspects:
- Educational centers with videos, tutorials, articles and updated economy news. This centers enable customer to learn important financial strategies.
- Trading signals software to help traders in generating better results.
- Regulation and licensing that will provide assurance and safety.
TopOption, the only binary options company with full EU regulation, is praised for offering a one on one training program that elevates traders to a professional level. Banc de Swiss have had to balance their growth with a lacking service while trying to rid themselves from the scam tag. Meanwhile TopOption constantly adds efficiency to its customer services to give you the best trading experience. The market leader in several European countries, such as Sweden and Norway, it gives you personal guidance and financial advice to learn advanced trading strategies, improve your results and earn more consistently. Now it also offers a 100% bonus cash money:
OptionBit offers you the most advanced signals trading tool, for free. With Algobit, and amazing signals software that scans the financial markets and identifies the best trades, you will be able to start profiting immediately. Meanwhile, the OptionBit advisers will teach you trading strategies and additional financial knowhow, such as how to correctly read graphs and make consistent predictions. With a large welcome bonus and a team of investment experts ready to help you as soon as you sign up, OptionBit with Algobit is an excellent choice for your monetary growth:
OptionWeb, another broker properly regulated by CySec and completely safe for European traders, offers one-on-one training sessions that have allowed multiple traders to earn money consistently while acquiring excellent trading skills. Besides being the most innovative binary broker, it successfully offers excellent services to clients from multiple countries, among which Sweden and the Netherlands. With some of the best investment advisers, the largest trading-videos library, very high payouts and excellent firs-deposit bonuses, this serious and professional broker is a perfect choice for your first experience as a binary options trader:
If you are unsure of the results Banc de Swiss can bring, start trading with a trustworthy broker, a safer and more profitable choice to opening an account.
What is Banc de Swiss?
The leading company in the German market, this broker began offering online trades in 2012, and since then it has made a serious impact on the options field. Why? Because it created a new and huge market in what was until then a dormant German niche, which was majorly uninterested in binary options, with local traders preferring CFD’s instead.
How did Banc de Swiss open the doors to the largest European economy? With a smart marketing strategy, offering a very low minimum deposit (only 100 Euro) and more importantly, the option to place 5-euro trades, considered an extremely low value in the world markets.
With little to risk and the chance to test the waters with a few 5-euro trades, customers started piling up, and Banc de Swiss became a force to be reckoned with, expanding to other European countries.
Banc de Swiss Scam allegations
The company started to face scam rumors as more and more customers where losing money and claiming the entire scheme was meant to defraud them of their investment. Was this true?
Perhaps partially. By opening the market to new and mostly inexperienced traders, Banc de Swiss did not take the appropriate steps to inform about the risks, the odds, and most importantly, the strategies needed to succeed in binary options trading. Now the majority of customers was unprepared to create a profit, became frustrated, and protested against the apparent scam. This situation was not unlike the chain of events experienced by Cedar Finance.
Nonetheless, the scam itself did not exist. This financial derivative is just as volatile now as it was then. What was lacking then and is still lacking now, though, is a real support for traders; a system within the site that would allow them to improve their trading techniques.
In order to rid itself completely from any negative criticism, BDS must urgently enter a regulatory process and seek the licensing that guarantees the safety of its clients’ funds.
Banc of Swiss – Implementing Swiss quality
Loyal to their name and to their marketing strategy, the company decided to focus on a high standard of customer service. This binary options broker presented itself as a Swiss company, so as to create the necessary trust from a European market that associates Switzerland to high quality. Now it was time to prove this to be true, not only in the financial aspect, but also the service.
Banc de Swiss does not offer an Education Center and in that sense is definitely still a step behind the above mentioned companies. It also lacks a team of expert professionals who advice clients on how to enhance their trading skills.
Banc de Swiss does not operate in the USA at all. Also, it still gives preference to the German market, and therefore the core of its team targets German customers. Though it has tried to expand its services to Scandinavian countries particularly, it is preferable for citizens in that region to opt for TopOption, which traders agree has better conditions and a more reliable customers service.
Banc de Swiss Scam Summary
- This binary options broker gets credit for practically creating a new and large market in Germany. It did so with an excellent marketing campaign.
- The immediate growth and success did come with a price, which created the notion that a Banc de Swiss scam should be feared. Ultimately, that was not exactly the case.
- Binary options are nonetheless very risky. To succeed it is imperative that you choose a solid broker that will help you learn more as you gain trading experience.
- TopOption and OptionBit are excellent choices which offers a blend of educational material and online support.
- Banc de Swiss needs to adopt the concept of personal online guidance, which would befit their brand name, one that suggests Swiss quality service.
- If you are an American trader, this binary options company will not accept you as a customer.
- Other European customers do not need to worry of fraud, although there are more viable brokers to choose from.