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

 

 

Regulation and Reputation

In terms of regulatory oversight, BinaryCent is a regulated brokerage firm under the supervision 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 aimed at the mainstream market; BinaryCent’s market segment is more focused on smaller online traders. Therefore, one of the main 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 has many similarities with the trading platform used by related brands. The platform is accessible with a web-based trading platform with any updated web browser.

This eliminates the need for a dealer to download and install software on their computers.

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

Mobile commerce

Traders who wish to trade the financial markets on the go 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 offered the mobile app for free. As far as the functionalities are concerned, the mobile trading app fulfills the same basic functions as its web-based counterpart. The only major difference is the fact that it is optimized for the smaller screens of smartphones and mobile devices.

Trading accounts offered

To meet the different needs of their customers, BinaryCent has provided their customers with a choice of 3 different types of trading accounts. It consists of the bronze account, the silver account and the gold account.

  • Bronze Trading Account

    Minimum deposit of $ 250 Live video chat support 20% deposit bonus 1 hour withdrawal

  • Silver Trading Account

    Minimum deposit of $1000 Live video chat support 1 hour withdrawal 50% deposit bonus Master Class

  • Gold trading account

    Minimum Deposit of $3000 Live Video Chat Support 1 Hour Withdrawal 100% Deposit Bonus Master Class 3 Risk Free Trades Personal Manager

Bonus and promotions

As 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 most important requirements for converting the bonus is the need for a minimum trading volume (turnover).

 

 

Apart from the deposit bonus, BinaryCent also gave their traders other incentives such as ‘Risk Free Trades‘ and trading contests. For the free trade promotion awarded to Gold account holders, BinaryCent will reimburse the trader’s losses, if the total balance of the first 3 trades is negative.

In addition to the risk-free trading promotion, BinaryCent also holds a regular trading contest with a prize pool of $20,000. Every week 20 winners are chosen from the participants.

Assets and Instruments

As for the assets, BinaryCent offers the following assets:

  • commodities
  • Cryptocurrencies
  • Forex
  • Market Indices
  • supplies

For forex and CFDs, BinaryCent offers a maximum leverage ratio of 1: 100. The asset index is a growing list – the firm is relatively new. The focus is currently Cryptocurrency and altcoin, but other assets are being added as the offering grows. That said, the current list still covers the most important assets a trader would expect.

Customer Service

As for the support services at BinaryCent, they are offered 24/7. Merchants who need support can reach out to the support team via live chat, web contact form or by calling them directly by phone.

Deposit and withdrawal

For trading account funding, BinaryCent has provided different methods that their customers can use to fund their trading account. These different methods include the following:

Major credit cards such as VISA and Mastercard Cryptocurrency wallets that accept Bitcoin, Ethereum, Dash, Litecoin and other altcoins, eWallets such as Skrill, WebMoney, Neteller

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

Questions

Is BinaryCent suitable for day trading?

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

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

What is the minimum requirement to open a trading account?

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

How quickly can my withdrawal request be processed?

BinaryCent guarantees that all withdrawal requests are processed within an hour. However, it should be noted that it may take a few days for the withdrawn amount to be 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 which owns a number of leading online trading platforms.

What kind of trading platform does BinaryCent have?

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

What is the maximum available leverage?

The maximum leverage is 1:100 for CFDs.

Can I deposit and trade with 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.