BinaryCent is an online financial trading platform that was recently established in 2017. The trading platform is operated by a management company known as Cent Project Ltd, a subsidiary of Financial Group Corp based in Vanuatu. Their headquarters are located at Level 2, Transpacific Haus, Lini Highway, Vanuatu. The Finance Group Corp is also the parent company of a leading binary options trading platform called BinaryMate. However, BinaryCent specializes in providing binary options trading services, but also a forex and Contract for Difference (CFD) venue.
Rules & 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 parent company Finance Group Corp. Unlike its sister trading platform BinaryMate, which is aimed at the mainstream market; BinaryCent’s market segment focuses more 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.
Trading Platform
The trading platform adopted by BinaryCent is a proprietary trading platform developed exclusively for Group Finance Corp. This is the reason why this platform bears many similarities to trading platforms used by related brands. A web-based trading platform, the platform can be accessed with any modern web browser. This eliminates any need for traders to download and install any software onto their computers. Although only a web-based trading platform, the platform works efficiently and is equipped with various trading tools such as trading charts and technical indicators. With a user-friendly interface, the BinaryCent trading platform is a joy to use.
Mobile Commerce
Traders who want to trade financial markets on the go can also do so with their smartphone or tablet by downloading a mobile trading application from the Apple 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, mobile trading apps fulfill the same basic functions as their web counterparts. The only main difference is the fact that it is optimized for the small screens of smartphones and mobile devices.
Trading Account Offered
To meet the varied needs of customers, BinaryCent has provided their customers with 3 different types of trading accounts. They consist of Bronze accounts, Silver accounts and Gold accounts.
- Bronze Trading Account Minimum deposit $ 250 Live video chat support 20% deposit bonus 1 hour withdrawal
- Silver Trading Account Minimum deposit $ 1000 Live chat chat support 1 hour withdrawal 50% deposit bonus Master Class
- Gold Trading Account Minimum deposit $ 3000 Live chat chat support 1 hour withdrawal 100% Master Deposit Bonus Class 3 Risk Free Consultant Personal Manager
Bonuses & Promotions
As can be seen above, the bonus offered by BinaryCent ranges from 20% to 100% depending on the type of trading account the trader has signed up for. However, traders should be aware that there are terms and conditions associated with the granting of this bonus. One of the main requirements for bonus suspension is the need to meet a minimum trading volume (turnover). Apart from the deposit bonus, BinaryCent also provides their traders with other incentives such as “ Risk Free Trading”. ” and trade competition. For risk-free trading promos given to Gold account holders, BinaryCent will compensate the trader’s trading losses, if the balance amount of the first 3 transactions is negative. In addition to the risk-free trading promo, BinaryCent also holds a regular trading contest with a $20,000 prize. Each week, 20 winners will be selected from the participants.
Assets And Tools
In terms of trading assets, BinaryCent offers the following asset classes:
- Commodity
- Cryptocurrencies
- Forex
- Market Index
- Shares
For spot 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 at present is Cryptocurrencies and altcoins, but other assets are added as offerings increase. That said, the current list still covers all the major assets traders are expected to be looking for.
User support
As for the support service at BinaryCent, it is available on a 24/7 basis. Merchants who need support can contact the support team via live chat, web contact form or contact them directly on the phone.
Deposit & Withdrawal
For trading account funding, BinaryCent has provided several methods that their customers can use to fund their trading accounts. These different methods include the following: Major credit cards such as VISA and Mastercard wallets Cryptocurrencies that accept Bitcoin, Ethereum, Dash, Litecoin and other eWallet coins such as Skrill, WebMoney, Neteller For withdrawals, the same method is also supported by BinaryCent. Other than a 5% charge for credit card withdrawals, BinaryCent does not charge withdrawal fees. But there is a minimum withdrawal requirement of $50. As for 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. First, you can trade in several asset classes such as forex, commodities, stocks, cryptocurrencies and market indices. In addition, you can also trade the forex market, the CFD market and the binary options market. With binary options, your trades can be sized in about 60 seconds. Most importantly, the minimum investment requirement imposed by BinaryCent is only $10 per trade. This gives you the ability to stretch your limited investment capital to cover 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 bronze trading account. For Silver trading accounts, the minimum deposit requirement is $1000. For gold trading accounts, the minimum deposit requirement is $3000.
How quickly can my withdrawal request be processed?
BinaryCent guarantees that all withdrawal requests are processed within one hour. However, please note that it may take a few days before the amount withdrawn is posted to your credit card account.
Is BinaryCent a reliable broker?
Yes, BinaryCent is a reliable broker. It is part of Financial Group Corp which owns several major online trading platforms.
What types of trading platforms are available at BinaryCent?
BinaryCent uses a proprietary web-based trading platform that has been developed exclusively for Financial Group Corp. The platform can also be downloaded as a mobile trading application on the Apple App Store and Google Playstore.
What is the maximum leverage available?
The maximum leverage provided is 1:100 for CFD 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.