BinaryCent Review and Tutorial 2020

BinaryCent is an online financial trading platform that was recently established in 2017. The trading platform is managed by a management company known as Cent Project Ltd, a subsidiary of the Finance Group Corp that is based in Vanuatu. Their head office is located at 2nd Floor, Transpacific Haus, Lini Highway, Vanuatu. The Finance Group Corp is also the holding company of another leading binary options trading platform called BinaryMate. BinaryCent however specializes not only in providing binary options trading services, but also spot forex and Contract for Differences (CFDs).

Regulation & Reputation

In terms of regulatory oversight, BinaryCent is a regulated brokerage firm under the oversight of the Vanuatu Financial Services Commission. This is due to the fact that BinaryCent operates under the corporate umbrella of its holding company the Finance Group Corp.

Unlike its sister-trading platform BinaryMate, which is geared towards the mainstream market; BinaryCent’s market segment is focused more towards smaller online traders. This is why one of the key attractions of BinaryCent is the ability to place trades with an investment as low as 10 cents.

Trading Platforms

The trading platform adopted by BinaryCent is a proprietary trading platform developed exclusively for the Finance Group Corp. This is the reason why the platform bears many similarities with the trading platform used by related brands. A web based trading platform, the platform can be accessed with any up-to-date web browser.

This eliminates any need for a trader to download and install any software onto their computers.

Despite being just a web based trading platform, the platform works efficiently and comes integrated with numerous trading tools such as trading charts and technical indicators. With its user friendly interface, the BinaryCent’s trading platform is a joy to use.

Mobile Trading

Traders who wish to trade the financial markets while they are on the move can also do so with their smartphones or tablets by downloading the mobile trading app from Apple’s App Store (iOS – iPhone and iPad) or Google Playstore for android devices.

As part of their product offering and services, BinaryCent has provided the mobile app for free. In terms of functionalities, the mobile trading app fulfils the same basic functions as its web based counterpart. The only key difference is the fact that it is optimised for the smaller screens of smartphones and mobile devices.

Trading Accounts Offered

To meet the varying needs of their clients, BinaryCent has provided their clients with a choice of 3 different types of trading accounts. They comprises of the Bronze account, the Silver account and the Gold account.

• Bronze Trading AccountMinimum deposit of $250
  Live video chat support
  20% deposit bonus
  1hr withdrawal
• Silver Trading AccountMinimum deposit of $1000
  Live video chat support
  1 hour withdrawal
  50% deposit bonus
  Master Class
• Gold Trading AccountMinimum deposit of $3000
  Live video chat support
  1 hour withdrawal
  100% Deposit Bonus
  Master Class
  3 Risk Free Trades
  Personal Manager

Bonuses & Promos

As can be seen above, the bonuses offered by BinaryCent range from 20% to 100% depending on the type of trading account the trader has signed up for. Nevertheless, traders should be aware that there are terms and conditions attached to the award of these bonuses. One of the key requirements for the encashment of the bonus is the need to fulfil a minimum trading volume (turnover).

Apart from the deposit bonus, BinaryCent has also provided their traders with other incentives such as “Risk Free Trades” and trading contests. For the risk free trade promo, awarded to Gold account holders, BinaryCent will compensate the trading losses of the trader, if the total balance of the first 3 transactions is negative.

In addition to the risk free trade promo, BinaryCent also holds a regular trading contest with a prize pool of $20,000. Every week, 20 winners will be selected from the contestants.

Assets And Instruments

In terms of trading assets, BinaryCent offers the following classes of assets:

• Commodities
• Cryptocurrencies
• Forex
• Market Indices
• Stocks

For spot forex and CFDs, BinaryCent offer a maximum leverage ratio of 1:100. The asset index is a growing list – the firm are relatively new. The focus at present is Cryptocurrency and altcoin, but other assets are added as the offering grows. That said, the current list still cover all the major assets a trader would expect to find.

Customer Support

As for the support services at BinaryCent, it is provided on a 24/7 basis. Traders who need support can reach out to the support team through live chat, web contact form or by calling them directly on the telephone.

Deposit & Withdrawal

For the funding of trading accounts, BinaryCent has provided several methods which their clients can use to fund their trading account. These different methods include the following:

Major credit cards such as VISA and Mastercard
Cryptocurrencies wallets which take Bitcoin, Ethereum, Dash, Litecoin and other alt coins
eWallets such as Skrill, WebMoney, Neteller

For withdrawals, the same methods are also supported by BinaryCent. Apart from a 5% charge for credit card withdrawals, BinaryCent does not charge any withdrawal fees. But there is a minimum withdrawal amount requirement of $50. As for the withdrawal time, BinaryCent guarantees that all withdrawal requests will be processed within one hour.

FAQs

Is BinaryCent suitable for day trading?

There are several factors which make BinaryCent an ideal trading platform for day traders. Firstly, you can trade in several asset classes such as forex, commodities, stocks, cryptocurrencies and market indices. In addition, you can also trade the spot forex market, CFDs market and binary options market. With binary options, your trades can be as short as 60 seconds.

Most important of all, the minimum investment requirement imposed by BinaryCent is merely $10 per trade. This gives you the ability to stretch your limited investment capital to cover more market positions at minimal risks.

What is the minimum deposit requirement to open a trading account?

The minimum deposit requirement at BinaryCent is $250 for the bronze trading account. For the Silver trading account, the minimum deposit requirement is $1000. As for the Gold trading account, the minimum deposit requirement is $3000.

How fast can my withdrawal request be processed?

BinaryCent guarantees that all withdrawal requests are processed within an hour. However, it should be noted that it could take several days before the withdrawn amount is posted to your credit card account.

Is BinaryCent a reliable broker?

Yes, BinaryCent is a reliable broker. It is part of the Finance Group Corp that owns several leading online trading platforms.

What kind of trading platform does BinaryCent have?

BinaryCent uses a proprietary web based trading platform that has been developed exclusively for the Finance Group Corp. The platform is also available for download as a mobile trading app at Apple’s App Store and Google Playstore.

What is the maximum leverage available?

The maximum leverage provided is 1:100 for CFDs trading.

Can I deposit and trade using Bitcoin or other Cyptocurrency?

Yes. 14 different cryptocurrencies are supported for account balances.

Accepted Countries

BinaryCent accepts traders from Australia, Thailand, Canada, United States, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

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