Well to everyone who did not know, I just returned from my trip to Banc De Binary’s offices. It was truly an amazing experience, and in all honesty I was overly impressed by the professionalism, work ethic and quality of everyone who works there. There was not a single person there whom I had the pleasure of meeting who I would not very much enjoy working with or meeting again.
Now my purpose of the visit over there was to see how the business worked, meet everyone and try to iron out a few issues that I received e-mails and comments about on the forums and through private messages.
My first day there we were able to sit down and really go through these issues and managed to get many of them worked out, and if not worked out, the reasoning was justified as to why one thing or another could not work or be implemented at the present time.
One of the big things was the servers which seemed to be slowing down previously as there were just so many users online as well as the platform had been increased to provide 3 rate updates per second from 1. While I was there I asked them to switch it back to 1 rate update per second which seemed to fix many of the issues. Also it just happened so that they were doing a MAJOR server upgrade into more of a “cloud” type setting which has drastically sped up the servers response times. Now for me the page loads instantly without any delay which is much better than before.
We were also able to talk about the logout issue which many of you asked if they could fix to extend the time before it logs you out. Now the reasoning behind them not having changed this in the beginning is that they did not want someone leaving their account up whether at a public place or at their house and having someone start placing trades who was not authorized. However after talking with them more about this the plan is to upgrade this to 15 minutes before you get logged out and a notification will be sent at 14 minutes to ask if you would like to extend the session. So just know this was all based on their security preferences in trying to protect you as a client from potential threats by being proactive.
In terms of the payout rates they actually did update AUD/USD to 90% and as we know USD/CHF has already been above 90% for a little while. However as they said due to specific problems with some of the contracts they have been unable to update the payouts on EUR/USD at the present time but they are doing everything in their power to get them updated as fast as possible which is understandable.
Now another issue that was mentioned was that of spreads on the platform, now they CANNOT legally have spreads on their platform or they would get sued. So after showing them what we traders were seeing in terms of the price differences we noticed that the reason this was occuring was because of the 3 rate changes per second which had been implemented. So as I mentioned when they switched this back to 1 rate update per second this fixed many of the issues – this being one of them.
Another issue that I’m not so sure is much of an issue anymore but it was that customer service and brokers occasionally took a little bit of time to respond. I will tell you from my experience being there that this is an extremely busy business, so don’t think you are the only client. They are getting an incredible amount of phone calls and live chats all day long. So if you did happen to see a delay of any sort just realize they were probably each juggling 25 people at any given time.
Now as I said before I was overly impressed by the business they are running over there, and I wanted to tell you all about the security of the office which you will see in some of the photos I took.
They have security keypads on almost every door that you pass through in which the codes are changed very often. They also have a fingerprint scanner to verify your identity in order to gain access to the office as well as security cameras and alarm systems monitoring every single inch of the office so that nothing goes unnoticed. Also from what I saw the computers log out within 1 minute of the stop of use to ensure no one could get access to files they were are not supposed to have. Very impressive in my opinion.
So I hope this clears many things up for potential new Banc De Binary clients as well as those of us who have been trading with them for a while. This is in all serious one of the best companies I’ve come across in nearly every aspect not just in binary options but in general. They know exactly what they are doing, how to run it completely legitamently unlike many of these other binary options brokers. So because of this I will absolutely back them up and put my reputation on the line for them as I completely believe in what they are doing and how they are doing it. Everything is legit, everything is secure and the growth potential I see with them is astronomical.
So I hope you enjoyed my little post and please feel free to comment back with any questions!