Binarycent

Binarycent Review

4 / 5
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.28 Nov 2023
author avatar image Chad Smith

Table of Contents

Binarycent Main Features
Feature Title Feature Value
HeadquartersSaint Vincent and the Grenadines
Year Founded2017
Demo AccountYes
Minimum Deposit$250
Copy TradingYes

In today’s fast-paced world of investment opportunities, traders are constantly seeking reliable platforms to diversify their portfolios. One option, particularly for those outside the U.S., is Binarycent, a relatively new broker for binary trading, forex, and CFD based in the Marshall Islands. It has been gaining popularity since its inception in 2016 due to its low minimum deposit and competitive trading conditions.

While Binarycent caters to international clientele, it is essential for potential users to understand the nuances of this platform to make informed decisions. In this article, we will delve into the various aspects of Binarycent, including account opening, trading features, deposits and withdrawals, as well as its pros and cons. Additionally, we will discuss its support and security measures, which are crucial aspects of any trading platform.

Key Takeaways

  • Binarycent is a popular choice for non-U.S. traders due to its competitive trading conditions and low deposit requirements.
  • The platform offers varied account options to suit different trading needs and a user-friendly interface.
  • As with any trading platform, it is crucial to examine its features, security aspects, and potential disadvantages before committing your funds.

Overview of Binarycent

Binarycent is a binary options, Forex, and CFD trading platform based in the Marshall Islands. The company was founded in 2016 and is operated by a business named Wave Makers LTD. As an offshore broker, Binarycent is regulated by the Vanuatu Financial Services Commission (VFSC).

The platform offers a wide range of trading opportunities, including CFDs and Forex trading. Their unique trading platform has been designed and launched by a group of experienced investors, ensuring a user-friendly interface and easy account opening process.

As you explore Binarycent, you’ll find that it is committed to providing excellent customer support. This can be seen through their fast and responsive support system, which has garnered positive reviews on Trustpilot. Additionally, the broker offers attractive bonuses and a quick withdrawal process, making it an appealing option for traders.

However, it is important to note that Binarycent lacks tier-1 regulatory licenses, which can raise some concerns among potential users. Despite this, the platform has managed to maintain a good reputation within the binary options trading community and continues to build on its offerings to cater to both experienced and novice traders.

Account Opening Procedure

Opening an account on BinaryCent is simple and straightforward. First, you need to visit their website and click on the ‘Open Account’ button. You will be asked to provide your personal details like name, email address, and phone number. Once the information is submitted, you’ll receive a confirmation email with further instructions.

BinaryCent offers three account types to choose from – Bronze, Silver, and Gold. Each of these accounts has certain features and benefits according to your investment capabilities and preferences.

  • Bronze Account: This requires a minimum deposit of $250 and includes features like live chat support, a bonus of 20% on your deposit, and access to educational materials like ebooks and video tutorials.
  • Silver Account: With a minimum deposit of $1,000, the Silver account offers everything in the Bronze account, along with a 50% deposit bonus, webinars, and three risk-free trades.
  • Gold Account: The Gold account requires a minimum deposit of $3,000 and offers a 100% deposit bonus. In addition to all the features of Silver and Bronze, you can enjoy a personal success manager, a Swiss prepaid card, and a personal analyst.

Apart from these live accounts, BinaryCent also provides a demo account, which is an excellent opportunity to test their platform and practise your trading strategies without the risk of losing real money. This helps build your confidence and prepares you for live trading.

While there have been concerns about BinaryCent being a scam, the various positive reviews and transparent processes make it a legitimate platform for trading. However, it is always essential to do your due diligence and ensure that you are comfortable with the platform, terms, and conditions before opening an account.

Remember, trading involves risks, and it’s crucial to invest only what you can afford to lose. With Binarycent’s account options and educational resources, you can make informed decisions that suit your trading goals and style.

Trading on Binarycent

When trading on Binarycent, you have access to a variety of financial instruments such as binary options, forex, stocks, indices, and commodities. The platform offers a user-friendly interface that caters to both beginners and experienced traders.

With Binarycent, you can engage in options trading with a low account minimum of $50. The trading platform provides various trade types, including turbo trades which are short-term, high-speed options designed for quick profits. The platform also supports mobile trading, allowing you to trade seamlessly on the go.

Apart from its range of trading assets, Binarycent offers competitive trading conditions. The platform supports leverage, which gives you the opportunity to increase your potential profits while managing your risk exposure effectively. However, it’s essential to remember that leverage can also amplify your losses if the market moves against your position.

Binarycent’s trading platform is equipped with advanced technical analysis tools and charting capabilities to assist you in making informed decisions. Furthermore, if you’re new to trading or looking to enhance your skills, Binarycent offers educational resources and a demo account to help you familiarise yourself with their platform and trading strategies.

In summary, Binarycent provides a solid trading experience focused on accessibility, affordability, and user-friendliness. With a diverse range of trading assets, competitive conditions, and advanced tools, the platform caters to traders of all experience levels looking to succeed in the world of forex, binary options, and other financial instruments.

Deposits and Withdrawals

When it comes to handling your finances on Binarycent, rest assured that the process is straightforward and secure. To fund your account, you can start with a minimum deposit of $250 which will grant you immediate access to the platform. Your deposit options include various currencies, and you can use credit cards, debit cards or other methods such as cryptocurrencies and e-wallets.

In addition to the standard deposit, you may be eligible for a deposit bonus of up to 200%, depending on your account tier and promotions offered by Binarycent at the time. Keep in mind that bonuses often come with specific terms and conditions.

To withdraw your earnings, simply access the withdrawal section on the platform, and follow the required steps. Binarycent’s withdrawal process is efficient, and you can typically expect withdrawals to appear in your account within a reasonable timeframe. It is crucial to ensure that all your account information and verification documents are up to date to prevent any delays during the withdrawal process.

Security is of utmost importance for Binarycent, which is why they employ high-level encryption and verification procedures to protect your funds and transactions. By following the platform’s guidelines and keeping your account information safe, you can trade confidently and efficiently on Binarycent.

Appreciating the Features

As you explore Binarycent, you’ll discover several noteworthy features designed to enhance your trading experience. Firstly, Binarycent offers a mobile app for both Android and iOS, allowing you to trade at your convenience on the go. This intuitive app provides all the capabilities you need, from monitoring your investments to executing trades at your fingertips.

One distinct advantage of Binarycent is the copy-trading feature. This allows you to track and replicate the moves of successful traders on the platform easily. By following these experts, you can maximise your gains and improve your trading skills.

Binarycent provides risk-free trades to minimise potential losses for new traders. As a new user, this feature helps you explore different trading strategies without the fear of losing your capital. Use it wisely to gain confidence and experience in the world of trading.

When it comes to payouts, Binarycent excels in offering competitive rates. The yield or payout percentage can reach up to 90% on certain options, providing you with lucrative returns on your investments.

Moreover, Binarycent is known for its attractive bonuses, offers, and promotions. With a wide variety of account tiers to choose from, you may receive added incentives such as trading signals, educational materials, and higher payouts. Depending on your account type, you could even receive a 100% bonus, effectively doubling your initial deposit.

To summarise, Binarycent’s features, such as the mobile app, copy-trading, risk-free trades, impressive payouts, and appealing offers, make it a trading platform worth considering for both new and experienced traders. Embrace these features to enhance your trading proficiency and potentially maximise your returns.

Examining the Support and Security Aspects

When trading with Binarycent, you would want to ensure that the platform is both supportive and secure. This section will discuss both aspects to give you an idea of what to expect.

In terms of support, Binarycent offers a dedicated customer support team available 24/7. Their support is provided through various channels, including live chat, phone, and email. This allows you to contact them anytime, ensuring you receive prompt assistance for any queries or technical issues you might encounter.

The support team’s presence not only enhances your trading experience but also provides a sense of reassurance that your concerns are promptly addressed. With a personal success manager assigned to your account, you can expect tailored, one-on-one guidance for executing trades and managing your portfolio.

On the security front, Binarycent takes essential measures to safeguard your investments and personal information. The platform utilises secure socket layer (SSL) technology to encrypt all data transmitted between your computer and its servers. This ensures the highest level of security and confidentiality for your sensitive information.

Although Binarycent is not directly regulated by a reputable financial authority, its parent company is registered under the Vanuatu Financial Services Commission. This implies adherence to certain regulatory standards.

Moreover, Binarycent offers negative balance protection, preventing your account from falling into a negative balance due to excessive market volatility. This feature is crucial in minimising potential losses and ensuring your financial safety.

In summary, Binarycent’s support and security aspects aim to provide you with the necessary assistance and protection while trading on their platform. As a trader, keeping these factors in mind can help you make informed decisions about choosing a suitable broker with which to work.

A Look at the Potential Disadvantages

As you explore the world of binary trading and consider using Binarycent, it’s essential to identify potential disadvantages that may impact your experience. Being aware of these aspects can help you make an informed decision about trading with this platform.

Firstly, although Binarycent is relatively new to the market (established in 2017), they have managed to garner a significant user base. However, the reviews are mixed – some traders praise their services, while others are not as satisfied. With a Trustpilot rating of 2.7, it may give you reason for caution. Negative reviews include complaints about withdrawal delays and a lack of attentive customer service; these could be potential red flags for you to consider.

Another aspect to consider is the withdrawal process. While Binarycent allows you to withdraw your funds without accepting a bonus; they require you to turn over your funds at least once before doing so. Failure to meet this requirement will result in a 20% fee, which might be considered steep by some users.

Binary options, in general, are considered high-risk investments. While Binarycent offers an affordable and accessible platform, successfully navigating its features requires a certain level of skill. As a beginner, the low price might be tempting, but it’s crucial for you to understand the risks involved in this type of trading and assess whether you have the necessary knowledge to mitigate potential losses.

To summarise, some of the potential disadvantages of using Binarycent include mixed reviews, withdrawal conditions and the risky nature of binary options trading. It is important for you to weigh these factors and consider your own risk tolerance before deciding to open an account with Binarycent.

Final Thoughts

As you continue to explore your options in the world of trading, it’s worth considering BinaryCent as a potential platform. With its user-friendly interface and accessibility, this platform offers a convenient and efficient way to carry out trades.

One of the advantages of using BinaryCent is the affordability it provides. With a low account minimum of just $50, it’s possible for you to get started without needing to make a substantial investment. Additionally, the platform offers competitive fees, with zero commission per trade for stocks and a low fee of $0.65 per contract for options trades.

A key aspect of successful trading is understanding any costs associated with your investments, such as fees and commissions. It’s worth noting that BinaryCent boasts a transparent fee structure, so you’re not caught off guard by any unexpected costs as you aim to maximise your profits and achieve a higher turnover.

BinaryCent’s wide range of tradable instruments, along with its copy-trading feature, serves to enhance your trading experience by providing both choice and the potential to learn from other traders. As a result, this platform can be particularly appealing to those who are new to trading or those who want to broaden their portfolio.

In conclusion, as you weigh the merits of various trading platforms, BinaryCent should be a contender on your list. With its notable advantages and commitment to an accessible and affordable trading experience, BinaryCent could be the platform that aligns well with your trading goals and preferences.

Frequently Asked Questions

What is the minimum deposit requirement for BinaryCent?

The minimum deposit requirement for BinaryCent is $250 USD. This amount allows you to start trading on their platform and access the various features they offer.

How does BinaryCent compare to Videforex?

While both BinaryCent and Videforex are online trading platforms, they may differ in terms of features, fees, and user experience. It’s essential to research and compare the two platforms based on your specific needs and preferences before deciding to trade with either one.

Is the BinaryCent app easy to use and accessible?

BinaryCent offers a web-based trading platform, which means you can access it via a web browser on your computer or mobile device. The platform is designed to be user-friendly and easy to navigate for both experienced and beginner traders.

What are the key features of BinaryCent Pro?

BinaryCent Pro is not a specific product or feature found in the search results. However, BinaryCent offers various features, such as binary options trading, high returns, and 24/7 customer support. The platform also provides trading tools, such as TradingView charts, to help you make informed trading decisions.

How does BinaryCent’s platform compare to Nadex?

BinaryCent and Nadex are different platforms catering to different types of traders. BinaryCent focuses on binary options trading, while Nadex is a US-based exchange that offers binary options and spreads. Features, fees, and user experience may vary between the two platforms, and it’s crucial to research and compare both platforms to determine which one suits your needs.

Are there any similarities between BinaryCent and Quotex?

BinaryCent and Quotex both offer binary options trading, which is one similarity between the two platforms. However, they may differ in terms of features, fees, and user experience. To make an informed decision, it’s essential to research both platforms and compare them based on your trading needs and preferences.

author avatar image
Chad Smith

Chad Smith is the Director of Research & Analysis here at ForexBrokerListing.com. Chad previously served as an Editor for a number of websites related to finance and trading, where he authored a significant number of published articles about trading and the impact of technology in transforming investing as we know it. Overall, Chad is an active fintech and crypto industry researcher with more than 15 years of trading experience, and you can find him teaching his dog how to trade in his free time.

Binarycent

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