BinaryCent is an online financial trading platform that was established recently in 2017. The trading platform is managed by a management company called Cent Project Ltd, a subsidiary of Finance Group Corp. based in Vanuatu. Their headquarters are located at Level 2, Transpacific Haus, Lini Highway, Vanuatu. The Finance Group is also the holding company of another leading binary options exchange called BinaryMate. However, BinaryCent not only specializes in providing binary options trading services, but also discovers forex and Contracts for Difference (CFDs).
Regulations & 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 Finance Group Corp. Unlike BinaryMate, its sister trading platform, is aimed at the main market; BinaryCent’s market segment is more focused on smaller online traders. This is why one of the main attractions of BinaryCent is the ability to place trades with investments as low as 10 cents.
Exchange
The trading platform adopted by BinaryCent is a proprietary trading platform developed specifically for the Financial Group. This is why the platform has many similarities with the trading platform used by the brands involved. A web-based trading platform, it 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 computer. Although it is only a web-based trading platform, the platform is efficient and integrated with many trading tools such as trading charts and technical indicators. With its user-friendly interface, BinaryCent’s trading platform is a joy to use.
Mobile trading
Traders who want to trade the financial markets on the go can also do so with their smartphone or tablet 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 offerings and services, BinaryCent has provided a free mobile application. In terms of functionality, the mobile trading app fulfills the same basic functions as its web-based counterpart. The only major difference is that it is optimized for the smaller screens of smartphones and mobile devices.
Trading account provided
To meet the different needs of their clients, BinaryCent has provided their clients with a choice of 3 different types of trading accounts. These include Bronze accounts, Silver accounts and Gold accounts
- Silver Trading Account$1000 Min Deposit Support Live Video Chat 1 Hour Withdraw 50% Bonus Main Class Deposit
- Gold trading accountMinimum Deposit $3000 Live Video Chat Support 1 Hour Withdrawal 100% Bonus Bonus Master Class 3 Risk Free Trading Manage individual
Bonuses & Promotion
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 registered with. However, traders should be aware that there are terms and conditions attached to these bonuses. One of the main requirements for bonus packaging is the need to fulfill a minimum trading volume (revenue). In addition to the deposit bonus, BinaryCent has also provided their traders with other incentives such as Risk Free Trading and trading contests. For the risk free trade promotion, given to Gold account holders, BinaryCent will compensate the trader for trading losses, if the total balance of the first 3 trades is negative. In addition to promoting risk free trade, BinaryCent also runs a regular trading contest with a total prize pool of $20,000. Each week, 20 winners will be selected from the contestants.
Properties and tools
In terms of trading assets, BinaryCent offers the following asset classes:
- Goods
- Cryptocurrency
- Forex
- Market Index
- Stocks
For spot forex and CFDs, BinaryCent offers a maximum leverage of 1:100. The asset index is a growing list – relatively new company. The current focus is on cryptocurrencies and altcoins, but other assets are added as the supply increases. That said, the current list still includes all the major assets a trader would find.
Customer Support
As for the support services at BinaryCent, it is provided on a 24/7 basis. Traders who need assistance can contact the support team through live chat, web contact form, or by calling them directly on the phone.
Deposit & withdraw money
To fund trading accounts, BinaryCent has provided several methods their clients can use to fund their trading accounts. These various methods include: Major credit cards like VISA wallet and Mastercard Cryptocurrencies take Bitcoin, Ethereum, Dash, Litecoin and other alternative cryptocurrencies like Skrill, WebMoney, Neteller For withdrawals, The same method is also supported by BinaryCent. Apart from the 5% fee for credit card withdrawals, BinaryCent does not charge any withdrawal fees. But there is a minimum withdrawal amount requirement of $50. Regarding withdrawal time, BinaryCent guarantees that all withdrawal requests will be processed within one hour.
Frequently asked questions
Is BinaryCent suitable for day trading?
There are several factors that 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, the CFD market 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 imposed by BinaryCent is just $10 per trade. This gives you the ability to stretch your limited investment capital to secure more market positions with minimal risk.
What is the minimum deposit requirement to open a trading account?
The minimum deposit requirement at BinaryCent is $250 for a copper trading account. For Silver trading accounts, the minimum deposit requirement is $1000. For Gold trading accounts, the minimum deposit requirement is $3000.
How fast can my withdrawal request be processed?
BinaryCent ensures that all withdrawal requests are processed within one hour. However, it should be noted that it may take several days before the withdrawal amount is deposited into your credit card account.
Is BinaryCent a reliable broker?
Yes, BinaryCent is a reliable broker. Dây is part of the Financial Group which owns some of the leading online trading platforms.
What kind of exchange does BinaryCent have?
BinaryCent uses a proprietary web-based trading platform developed specifically for Financial Corporations. 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 offered is 1:100 for CFD trading.
Can I deposit and trade with Bitcoin or other Cryptocurrency?
Correct. 14 different cryptocurrencies are supported for account balances.
Accepted countries
BinaryCent accepts traders from Australia, Thailand, Canada, USA, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.