About the brand
Are all binary options platforms scams? Should you try using one? Questions to ask before anyone starts trading binary options. Be aware that binary trading always involves risk like any other method of trading assets or commodities. So losing money is always possible.
BinaryCent is one of the brokers that you can use for binary options trading. Thanks to its many features, multiple account types and incredible bonuses, it is easy to use this trading platform. . This BinaryCent review will help you understand what it is all about and whether you should give it a try.
Quick introduction to binary
Best Overall Value
- Operate under Finance Group Corp
- Founded in 2016
- Regulated by VFSU
- Mobile commerce available
- Accepts merchants from multiple countries
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Binary customer reviews
The best broker I have used! When I just started trading I didn’t have a lot of money and couldn’t get them to trade on other platforms because of the huge first deposit and awful commissions, so binarycent was the best fit and I NEVER REGRETED ABOUT IT.
Besides no complaints in general, I would like to add bonuses that Binarycent provides regularly, it has been so helpful to me many times. Thanks guys for that! Recommend
The brokers I used before took a huge commission so it was impossible so I had nothing left of my profit, but this platform GIVES YOU A REAL OPPORTUNITY to make money. Recommended!!
What is Binarycent?
BinaryCent is a broker that helps anyone looking to start trading binary options. Founded in 2016, it is relatively new. . Thanks to its amazing features and overall customer support, it has become recognized by many people who enjoy trading binary options. The company is registered and licensed in Vanuatu, but accessible worldwide.
Just like other trading platforms, BinaryCent users can access their account through the browser on their desktop or apps, available for Android or iOS users. would encounter different trading accounts, so choose the one that best suits your trading needs.
Trading platform features and payouts
The BinaryCent trading platform is like other binary options platforms. They claim to give you up to 90% payouts, but most range from 70% to 80%. Payouts average between 65-85% on any trading account used on this platform.
Trade type payout with trade options such as turbo trading, intraday traders and long term trades.
Turbo trades are the usual fast trades such as CFD trading, but can take anywhere from 30 seconds to a maximum of 15 minutes. These transactions are popular among beginners who want to start trading CFDs. Always trade forex with caution as they can be a quick way to lose money.
Intraday trading should be reserved for those experienced in the financial markets. As the name suggests, you can analyze data over several days before placing the trade. These transactions can take longer than a day. You should always be vigilant because the value of the asset might not work out as you expected. Long-term traders can last up to five weeks. It is expected that before you start trading such positions, you understand the pros and cons.
Anyone interested in binary trading understands the importance of having proper regulation. BinaryCent is regulated by the Vanuatu Financial Services Commission or VFSU. The broker operates under the holding company known as Finance Group Corp.
BinaryCent is also affiliated with BinaryMate, another exclusive trading platform dealing with the traditional binary trading market. As for BinaryCent, it is more inclined to deal with novice traders given its low minimum investment.
More and more people are now keen to try out its personalized mobile trading platform by using mobile devices to access a trading account, the app allows you to do this.
BinaryCent trading through the app is quite simple and easy to understand. Indeed, the mobile version of the website is intuitive and easy to navigate. Even those new to the platform will find it easy to use.
The app still has all the functions you get from the online trading platform. You will be able to view all trades made as well as your trading history from the app.
It should be noted that you will need to confirm your mobile number before trading or even using the app. This may not always work for everyone. However, the company does this to ensure that your information and funds are highly secure.
Types of accounts and their features
There are three main account types to consider when an individual is ready to start trading. They include; a gold trading account, a silver trading account and a bronze trading account.
The bronze account is the most basic account you can get on the trading platform. This account has a minimum deposit of $250. The good news is that you still get a 20% bonus even for such a minimum deposit. Other features include live video chats with the support team, an hour-long withdrawal time, and free demo accounts.
For the Silver account, you will need a minimum deposit of $1,000. You can also expect a 50% bonus boosting your account balance to $1,500. However, a trader must imperatively trade at least 40 times before making the first withdrawal. Other essential account features include three risk-free trades, live chats, a manager for your account, and a masterclass web session.
The gold account is for those who want more bonuses and it also comes with more features. The minimum deposit for this account is $3,000. With this you will get a 100% bonus. So your starting balance becomes $6,000. Like other trading accounts, you must meet certain minimum trading requirements before withdrawing your funds.
All of the brand’s binary options accounts also offer special features such as trading contests, risk-free trading, and copy trading features. Access to the demo account allows you to practice your skills before working with your real money.
Deposits and withdrawals
Whether you use the online trading platform or the mobile app, deposits and withdrawals are easy to make. Like other trading platforms, this one would accept Visa, Mastercard, Alt Coins, Ethereum and Perfect Money.
All major credit cards are accepted, but they charge a 5% transfer fee. This is charged by the credit card processor and not by BinaryCent.
For those who wish to withdraw from the silver account or the bronze account, you will find the same methods used to make deposits. The broker claims that you can have withdrawals processed within an hour. Faster functionality than most trading platforms.
Before you can withdraw, check the minimum withdrawal amount for your individual BinaryCent account, and you may also need to verify ownership. This is pretty standard to prevent fraudulent activity.
Note that funding or withdrawal from the trading account during holidays or weekends may have delays.
Costs and fees, commissions and spreads
It is not new to find a broker with different costs, fees, commissions and spreads than others. It is therefore essential to take your time to learn more about it before deciding to trade with such a broker.
Commissions are considered the costs that a broker will collect from the client by trading on behalf of the client. Check the trading account features to understand the commission you are expected to pay when using BinaryCent.
BinaryCent offers options such as stock indices and CFD trading. Here you have to pay the spread. The spread is based on market conditions. You will not have commission payments when opening an account, however, you may face a 20% fee when you need to withdraw from your account.
The BinaryCent trading platform is a relatively new broker that is rapidly gaining momentum due to its favorable features. Different types of accounts are available, including gold account, silver account and bronze account. Each has its unique benefits and features.
The customer support team is quite excellent. You can contact the team by e-mail, telephone or via a live chat system. So even if you’re new to currency pairs, you can get the help you need to get started.
For those who like bonuses, know that there are several rolling rules that you must respect before withdrawing. So only use the platform if you intend to trade the assets more often.
Frequently Asked Questions (FAQ)
We can conclude that it is a legit company given that it is fully licensed and regulated. Also, it has an excellent customer support team to help you with any issues.
Most people find the app good as it provides easy access to their accounts faster and without restrictions. Also, it is optimized for mobile devices which improves the user experience.
The company claims to take one hour to process your withdrawal request. However, it may take longer for weekends and holidays.
The bonus depends on the type of account. Like bronze, the account receives 25% of the deposit while the gold account receives 100% of the deposit.
Yes. You will get a demo account with every account you open with BinaryCent. This should help you practice your trading skills before placing real money trades.