| BinaryCent | ||
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| The BinaryCent trading environment is friendly and secure for all traders. This broker comes highly recommended for all types of traders. | ||
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BinaryCent is a binary option broker based in Vanuatu that has been established since 2017. The BinaryCent trading platform is managed by a company called Cent Projecte LTD, which is a subsidiary of an umbrella company called the Finance Group Corp.
BinaryCent specializes in offering binary option trades as well as Forex and CFDs (Contract For Differences). This broker offers payouts up to 95% and expiry times as low as 60 seconds. BinaryCent also has the lowest minimum trade amount in the industry at just 10 cents.
But is BinaryCent right for you? Can they be trusted? In this BinaryCent review, I'm going to tell you everything you need to now about this broker.
Table of Contents
Trading Platform
BinaryCent is an excellent trading platform and has a lot to offer. After your first login, you’ll see how easy it is to navigate the BinaryCent.com site. A quick tour reveals how this platform has advanced features for users. On the top left, you will see different links leading to their trading tools such as chart patterns, tips of technical analysis, and economic announcements.
The BinaryCent trading screen has a large chart and makes a big part of the site. You can view it in a candle or tick/line format. If you want a customizable charting package, go for the candle format.
Binary Cent has a growing list of assembled assets. They have stocks, commodities, cryptocurrencies, and forex pairs from which traders can choose. It is possible to trade with any of them using long term, intraday, or turbo strategies. Turbo expires within 30 minutes in 1-minute increments for short term trading.
The intraday trading expires between one hour and 24 hours. It allows a trader to enjoy all opportunities within a day. Long term trading includes those that expire between one day and 30 days. For all trading strategies, payouts are within the range, starting from 60% up to 80%.
Regulation
BinaryCent is regulated by the VFSC (Vanuatu Financial Services Commission). This broker is regulated by the VFSC because they operate under their corporate holding company called Finance Group Corp. BinaryCent has a sister company called BinaryMate, which is more focused on the mainstream market. BinaryCent on the other hand is geared towards beginner traders, with a minimum investment as low as 10 cents.
Mobile Trading
Mobile trading platform allows traders to tap into the market on the go. BinaryCent has an easy to navigate mobile version that is accessible through a tablet or a smartphone. All you have to do is download the app from Google Play Store or Apple's App Store.
The BinaryCent app is free and is just as intuitive to use as the website. It has all functions provided on the site and is not as clunky to use as some similar programs. The app also shows all transactions and history of trading.
You will need to confirm your mobile number before you can use the app. This can be seen as a downside for some people, but it is to keep your funds and information secure.
Account Types
BinaryCent is not different from other trading platforms. It offers different kinds of trading accounts to fit various traders' levels. It has an ideal option for beginners, experienced, and savvy traders. All trading account types come with unique features to maximize the trader's experience while increasing the chances of succeeding as long as one understands and knows the strategy to use.
Bronze Account
A bronze trading account requires a minimum deposit of $250, and the trader earns a bonus that can be as much as 20%. The total amount becomes $300, which is a significant advantage for someone who is getting started. With this BinaryCent account, the user can access live video chats, free demo accounts, and one-hour withdrawals.
Silver Account
A trader who wants to have a silver trading account should have an initial deposit of $1,000. This account attracts a bonus of 50%, giving the trader $1,500 to get started in trading. However, users must trade a certain number of times (usually 40 trades) before making the first withdrawal. Some of the benefits for this account include a master class online session, an account manager, live chat, and three risk-free trades.
Gold Account
The gold trading account gives a trader all the benefits above and more, but you will need to put down $3,000. It earns a 100% bonus, meaning you start at $6,000. Again, with a gold account, you must meet the minimum trade requirement before you can withdraw your funds from BinaryCent. But, with such a big bonus, it's an excellent way to get started.
Special Features
Trading Contests
Every BinaryCent account gets considered for all of the trading contests. Twenty exciting prizes are given every week. This contest is usually based on win rates, trading volume, and win rates. But it can also be won through copy trading features. Some of the highest prizes are an iPhone, bonus added to the account, and $1.000 in cash.
Copy Trading
Copy-trading in BinaryCent makes it easy for beginners to understand how to make profitable moves. This term refers to copying seasoned traders to replicate their success. As long as one's budget allows, users are allowed to follow as many traders as they wish. It helps to increase newbies' trade size and boost their chances of winning. When looking for trades available, always check expiry time.
Bonus and Promos
Min. Deposit | Bonus | Total Deposit |
|---|---|---|
$250+ | 20% | $300 |
$500+ | 50% | $750 |
$3,000+ | 100% | $6,000 |
BinaryCent offers bonuses to anyone who makes their first deposit. A trader can maximize investments and make good profits using the Bonus and Promos provided by BinaryCent. Bonuses come in three different levels. The first one is 20% for a bronze account, 50% for a silver account, and 100% for a gold account. However, each Bonus has minimum requirements before you can make the first withdrawal. Pay attention to these before you decide the amount to deposit.
According to a page titled Bonus Rules, Binary Cent states a trader must achieve three times turnover to qualify for profit and initiate a withdrawal. They define turnover as “the sum of the value of all trading orders excluding the value of any trading orders that have been canceled,” which can be confusing. Let’s look at an example.
If you deposit $1,000 and receive a $300 bonus, you need to make trades that total at least $3,900 ($1300 x 3). Don’t forget – these BinaryCent bonuses take priority before making a withdraw. So, if you have money in your account and then make another deposit with a bonus, you will need to make the turnover before you can withdraw the funds – even those you already earned before the deposit.
In addition to bonuses offered after you make a deposit, BinaryCent also offers other incentives. One of them is the "Risk-Free Trades' along with trading contests. Gold account holders are given a trade promo, which is risk-free and well worth the higher deposit level. With this perk, BinaryCent compensates the user if their first three transactions leave them with a negative balance.
Additionally, each week there are 20 winners selected in regular contests worth $20,000.
Assets
BinaryCent has five asset classes, including:
- Stocks
- Forex
- Commodities
- Indices
- Cryptocurrencies
Traders are given two types of trades: Binary Options and CFD/Forex. BinaryCent also gives you over 150 trading instruments to trade. Pay attention to what you trade! The type of asset you trade determines the payouts we mentioned earlier.
Since the cryptocurrency boom a few years back, BinaryCent has focused heavily on providing these assets. There are over 15 altcoins available for deposit, trade, and withdrawal.
Yes, there are other binary brokers with more assets and ways to start trading, but there’s a reason people are turning to BinaryCent. The asset list is still growing as this is a relatively young site, but they keep adding new ways to trade, which makes it very interesting.
Deposits and Withdrawals
BinaryCent offers several different deposit methods including Visa, Mastercard, Bitcoin, Ethereum, Alt Coins, and Perfect Money. Credit cards come with a 5% transfer fee, although this is applied by the credit card processor, not the broker. The rest of the funding methods come without any transfer fees.
BinaryCent offers the same payment methods for withdrawals as it does for deposits. This broker claims to process all withdrawals within 1 hour, which is quite faster than most trading platforms. Before a withdrawal can be processed, BinaryCent may require verification to prevent fraudulent activity, which is pretty standard in the industry. Funding your account during weekends or public holidays may also add a slight delay in processing time.
Customer Support
BinaryCent provides customer support via live chat, phone, and email. They even have video chat if you need some additional help. The site also gives traders total support by offering help in major languages, including Chinese, English, and Russian.
Final Thoughts
BinaryCent is an entirely new broker, but offers quite a wide range in trading. They offer all things that any trader would like to have, including a mobile platform, several deposit methods, demo account access, and exceptional welcome bonuses. The trading platform claims to offer beginners a chance to trade online, but their minimum deposit seems to speak otherwise.
Because of the 10 cent trades, easy deposit/withdraw methods, and excellent customer support, BinaryCent is a suitable broker for beginners. Just remember that bonuses come with a turnover rule, so only accept them if you plan on trading often!
The BinaryCent trading environment is friendly and secure for all traders. This broker comes highly recommended for all types of traders. Visit their website to learn more about their bonuses, view the platform, and see what all the hype is about!