Is Bank de Binary a scam, in a word, YES. I say that from my personal experiences dealing with this organisation, but I am one of the lucky ones. I only got scammed for $100 and it was my fault because I did not do full due diligence on them. I will detail what has happened to me since I heard of this company:
First of all, I received an e-mail from one of their affiliates that looked very interesting and I decided to investigate it but all I actually did was to check on the Moneybookers site where they do have an icon saying deposit to Bank de Binary using the Moneybookers payment method. As I believed that Moneybookers would not be deliberately promoting a scam site I assumed from that point on that Bank de Binary was legitimate.
Because the affiliate promotion page said that even though the company requires a $500 start-up deposit he had arranged for new clients to start with $100 so I did. I deposited $100 on 29 March and began trading and for the first day I lost money using the system the affiliate said to use. After I had lost some money I decided to ignore the affiliate advice and to use my own knowledge to place my wagers. I started winning and promptly pushed my balance back over $100 late on March 30.
I logged off for a few hours and then came back and found out I could not log back into my account, I got an online customer service person who told me my account was suspended until I paid another $400 into it. I explained about what the affiliate had been telling us in regards the $100 deposit, I was told this information was wrong and that until I gave them another $400 I could not use their trading platform. At this time I requested they refund my $100. I was told I would have to provide a whole stack of personal information, including photocopies of my passport and drivers license, which I did less than one hour after they requested what they said was the 'required' information. Remember, this was a requested REFUND, not a cash withdrawal.
A couple of hours after I sent them the information they demanded, I received an e-mail stating that a ticket had been opened by the disputes department and they requested I give them one day to action the ticket. When I have not heard from them by 5 April I sent an e-mail requesting an update, no reply was received. On April 10 I sent another e-mail again requesting an update and got the same e-mail I'd received on March 30, stating that the disputes department had opened a ticket. The ticket had exactly the same reference as the previous ticket again with the same request to give them one day.
Update 1: Today is 1 May and since they requested one day to action my refund I have received one spam e-mail from them but I have not received a refund, I guess I never will either.
There are other things that happened in my dealings with this company like being on live chat and just having the chat person I was talking to cancel the chat but I didn't take screenshots so I have no proof, and I must admit the last time I was talking to a live chat person at the point where I realised I was wasting my time, I was rude and hung up on them without warning.
I guess my biggest disappointment in this whole sorry saga is the involvement of Moneybookers. I don't deal with PayPal anymore because I don't like their business methods and ethics and was hoping that Moneybookers would restore my faith in online payment processors.
Update 2: Also I received last week the same email promoting this scam, exactly the same thing, use a $100 deposit, the affiliate has arranged it, what a load of BS, as of June 20th no refund and no response from bank de binary, as expected.
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