BinaryCent is an online financial trading platform that was recently established in 2017. The trading platform is managed by a management company known as Cent Project Ltd, a subsidiary of the Finance Group Corp that is based in Vanuatu. Their head office is located at 2nd Floor, Transpacific Haus, Lini Highway, Vanuatu. The Finance Group Corp is also the holding company of another leading binary options trading platform called BinaryMate. BinaryCent however specializes not only in providing binary options trading services, but also spot forex and Contract for Differences (CFDs).
Regulation & Reputation
In terms of regulatory oversight, BinaryCent is a regulated brokerage firm under the oversight 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 geared towards the mainstream market; BinaryCent’s market segment is focused more towards smaller online traders. This is why one of the key attractions of BinaryCent is the ability to place trades with an investment as low as 10 cents.
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 bears many similarities with the trading platform used by related brands. A web based trading platform, the platform 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 computers.
Despite being just a web based trading platform, the platform works efficiently and comes integrated with numerous trading tools such as trading charts and technical indicators. With its user friendly interface, the BinaryCent’s trading platform is a joy to use.
|BinaryCent Facts & Figures|
|Deposit and trade with a Bitcoin funded account! Binarycent accept deposits in, and trade, 15+ Cryptocurrency types.|
|Bonus||20% to 100%|
|Instruments||Crypto, Binary Options|
|Mobile Apps||iOS, Android|
|BinaryCent are a new broker and have fully embraced Cryptocurrencies. In addition to offering many alt-coins to trade, BinaryCent also accept deposits and withdrawals in 10 different crypto currencies.|
|Coins||ZEC, XRP, XMR, SAN, OMG, LTC, BTC, IOT, ETH, ETC, EOS, DSH|
Traders who wish to trade the financial markets while they are on the move 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 provided the mobile app for free. In terms of functionalities, the mobile trading app fulfils the same basic functions as its web based counterpart. The only key difference is the fact that it is optimised for the smaller screens of smartphones and mobile devices.
Trading Accounts Offered
To meet the varying needs of their clients, BinaryCent has provided their clients with a choice of 3 different types of trading accounts. They comprises 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
Silver Trading Account
Minimum deposit of $1000
Live video chat support
1 hour withdrawal
50% deposit bonus
Gold Trading Account
Minimum deposit of $3000
Live video chat support
1 hour withdrawal
100% Deposit Bonus
3 Risk Free Trades
Bonuses & Promos
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 signed up for. Nevertheless, traders should be aware that there are terms and conditions attached to the award of these bonuses. One of the key requirements for the encashment of the bonus is the need to fulfil a minimum trading volume (turnover).
Apart from the deposit bonus, BinaryCent has also provided their traders with other incentives such as “Risk Free Trades” and trading contests. For the risk free trade promo, awarded to Gold account holders, BinaryCent will compensate the trading losses of the trader, if the total balance of the first 3 transactions is negative.
In addition to the risk free trade promo, BinaryCent also holds a regular trading contest with a prize pool of $20,000. Every week, 20 winners will be selected from the contestants.
Assets And Instruments
In terms of trading assets, BinaryCent offers the following classes of assets:
- Market Indices
For spot forex and CFDs, BinaryCent offer a maximum leverage ratio of 1:100. The asset index is a growing list – the firm are relatively new. The focus at present is Cryptocurrency and altcoin, but other assets are added as the offering grows. That said, the current list still cover all the major assets a trader would expect to find.
- Open Account from with $100
- Trades as small as $0.10 (10 cents!)
- Deposit/Withdraw in crypto currency
- Trade binary, CFD or forex with leverage up to 1:100
- Advanced Trading Charts
- Advanced Trading Tools
- Copy Trading
- Trade Contests
- Deposit Match bonus of 100% on 1st deposit of ANY size
Cryptocurrencies accepted at BinaryCent
- Bitcoin and Bitcoin Cash
The platform at BinaryCent.com is really top notch. When you first log on you may be dazzled by all there is to offer but a quick tour will soon reveal how advanced this platform is. In the top left of the screen are links to trading tools like economic announcements, chart patterns and technical analysis tips complete with charts.
The main portion of the platform is of course the trading screen itself. This is dominated by a large chart that can be viewed in tick/line or candle format. The candle format is actually a fully customizable charting package from TradingView similar to what you find on all the top forex websites today. It includes all the technical indicators, drawing tools, time frames and settings you could possibly need. And you can trade right from it.
The asset list is decent but not what we would call flush. There are 10 forex pairs, 2 commodities, 4 stocks and 5 crypto currency pairings. These can be traded Turbo, Intraday or Long Term. The Turbo expiry is 10 to 30 minutes in 1 minute increments for super short term trading. The Intraday expiry are every hour out to the end of the day for 24 total opportunities each day. The long term are end of day expiry going out for the next 30 days. Payouts are in the range of 60% to 80% depending on expiry and volatility.
Deposits And Withdrawals
This firm boasts industry leading 1 hour withdrawal processing just like its sister brand BinaryMate.com. Deposits can be made in all the usual ways including eWallet, credit cards and wire transfers with accounts denominated in dollars or euros. The bonus is that you can also use a wide variety of cryptocurrencies which are best when it comes to making fast withdrawals.
To make a withdrawal you will have to verify your identity and account which may take a little time so the first withdrawals may not be available as quick as they say. The minimum amount for withdrawal is $50 and comes with no fees.