Binarycent Review 2024
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Binarycent is #9 in our rankings of binary options brokers. |
| Top 3 alternatives to Binarycent |
| Binarycent Facts & Figures |
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BinaryCent is an unregulated binary options broker that offers 24/7 trading on forex, cryptos and stocks with payouts up to 95%. Despite its lack of regulation, this broker takes client security seriously and stores client funds in European banks. The broker also offers CFDs with very high leverage up to 1:500. |
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| Instruments | CFDs, Forex, Stocks, Cryptos, Options, Commodities |
| Bonus | 20% to 200% deposit bonus |
| Demo Account | Yes |
| Min. Deposit | $250 |
| Mobile Apps | iOS, Android |
| Trading App |
BinaryCent, like most binary brokers, doesn’t offer its own app – just trading through mobile browsers. In this instance, the result is an average workspace with relatively crisp graphics, one-tap trading and access to copy trading from the menu at the bottom. However, charts don’t optimize well when you turn the device horizontally and the pop-up promotions were distracting during testing, detracting from the overall user experience. |
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| Payments | |
| Min. Trade | $0.01 |
| Regulated By | VFSC |
| MetaTrader 4 | No |
| MetaTrader 5 | No |
| cTrader | No |
| DMA Account | No |
| ECN Account | No |
| Social Trading | Yes |
| Copy Trading | Yes |
| Auto Trading | Centobot for binary options |
| Islamic Account | No |
| Commodities |
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| CFDs | You can take positions on a range of popular trading markets including forex, stocks, energies and metals. Leverage is high at 1:500 and live spreads can be viewed in the web-accessible platform and app. |
| Leverage | 1:500 |
| FTSE Spread | Floating |
| GBPUSD Spread | Floating |
| Oil Spread | Floating |
| Stocks Spread | Floating |
| Forex | Trade 24 forex pairs via binary options. Such a small range of currency pairs is not that unusual among binary options brokers, and BinaryCent's high payouts up to 95% compensate for the lack of range. |
| GBPUSD Spread | Floating |
| EURUSD Spread | Floating |
| GBPEUR Spread | Floating |
| Assets | 25+ |
| Stocks | Trader can access global stock markets through binary options on blue chip company shares and a range of indices. Clients can trade high/low binaries on a user-friendly web platform. |
| Cryptocurrency | BinaryCent offers trading on a decent list of cryptocurrencies, including major tokens like Bitcoin. The broker also accepts crypto deposits and withdrawals, making it straightforward to fund, trade and manage your activities in digital currencies. |
| Coins |
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| Spreads | N/A |
| Crypto Lending | No |
| Crypto Mining | No |
| Crypto Staking | No |
| Auto Market Maker | No |
| Binary Options | BinaryCent provides binary options trading on a range of markets through a slick proprietary platform. Traders can invest as little as $0.10 per trade and earn payouts up to 95%, and these are excellent terms that accommodate casual and low-capital traders while allowing profit opportunities. |
| Expiry Times | 5 seconds - 30 days |
| Payout Percent | 95% |
| Ladder Options | No |
| Boundary Options | Yes |
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 specialises 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.
Trading Platforms
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 BinaryMate. 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.
Mobile Trading
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 or Google Playstore. 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
- 1 hour withdrawal
Silver Trading Account
- Minimum deposit of $1000
- Live video chat support
- 1 hour withdrawal
- 50% deposit bonus
- Master Class
Gold Trading Account
- Minimum deposit of $3000
- Live video chat support
- 1 hour withdrawal
- 100% Deposit Bonus
- Master Class
- 3 Risk Free Trades
- Personal Manager
Bonus & Promos
As can be seen above, the bonuses offered by BinaryCent range depending on the type of trading account the trader has signed up for. Nevertheless, traders should be aware that there are 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.
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 & Instruments
In terms of trading assets, BinaryCent offers the following classes of assets:
- Commodities
- Cryptocurrencies
- Forex
- Market Indices
- Stocks
For spot forex and CFDs, BinaryCent offer a maximum leverage ratio of 1:500. As BinaryCent does not publish any details of their asset index, we are unable to furnish a complete list of the underlying assets that are available for trading on the BinaryCent’s trading platform.
Customer Support
As for the support services at BinaryCent, it is provided on a 24/7 basis and is available 24/7. Traders who need support can reach out to the support team through live chat, web contact form or by calling them directly on the telephone.
Deposit & Withdrawal
For the funding of trading accounts, BinaryCent has provided several methods which their clients can use to fund their trading account. These different methods include the following:
- Major credit cards such as VISA and Mastercard
- Cryptocurrencies wallets which take Bitcoin, Ethereum, Dash, Litecoin and other alt coins
- eWallets such as Skrill, WebMoney, Neteller
For withdrawals, the same methods are also supported by BinaryCent. Apart from a 5% charge for credit card withdrawals, BinaryCent does not charge any withdrawal fees. But there is a minimum withdrawal amount requirement of $50. As for the withdrawal time, BinaryCent guarantees that all withdrawal requests will be processed within one hour.
Are BinaryCent Best For Day Trading?
There are several factors which 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, CFDs market and 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 merely $10 per trade. This gives you the ability to stretch your limited investment capital to cover more market positions at minimal risks.
FAQ
What is the minimum deposit requirement to open a trading account?
The minimum deposit requirement at BinaryCent is $250 for the bronze trading account. For the Silver trading account, the minimum deposit requirement is $1000. As for the Gold trading account, the minimum deposit requirement is $3000.
How fast can my withdrawal request be processed?
BinaryCent guarantees that all withdrawal requests are processed within an hour. However, it should be noted that it could take several days before the withdrawn amount is posted to your credit card account.
Is BinaryCent a reliable broker?
Yes, BinaryCent is a reliable broker. It is part of the Finance Group Corp that owns several leading online trading platforms.
What kind of trading platform does BinaryCent have?
BinaryCent uses a proprietary web based trading platform that has been developed exclusively for the Finance Group Corp. 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 at BinaryCent?
The maximum leverage provided by BinaryCent is 1:500 for CFDs trading.
Top 3 Binarycent Alternatives
These brokers are the most similar to Binarycent:
- Videforex - Launched in 2017, Videforex offers access to stock, index, crypto, forex and commodities markets via binary options and CFDs. The proprietary platform, mobile app and integrated copy trading are user-friendly and will suit new and casual traders, and the market analysis tools and trading contests provide good ways to improve your trading skills.
- World Forex - World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
- Raceoption - RaceOption is a binary options broker operating from the Marshall Islands. With over 1,500 clients, the broker aims to offer fast funding, low fees and a secure trading environment. Traders can access over 100 binary options and CFDs, plus copy trading and weekly prizes.
Binarycent Feature Comparison
| Binarycent | Videforex | World Forex | Raceoption | |
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| Rating | 3 | 3.4 | 4 | 3.5 |
| Markets | Forex, Stocks, Commodities, Crypto | Forex, Stocks, Commodities, Crypto | Forex, Stocks, Commodities, Crypto | Forex, Stocks, Commodities, Crypto |
| Minimum Deposit | $250 | $250 | $1 | $250 |
| Minimum Trade | $0.01 | $0.01 | 0.01 Lots | $0.01 |
| Demo Account | Yes | Yes | Yes | Yes |
| Regulators | VFSC | - | SVGFSA | - |
| Bonus | 20% to 200% deposit bonus | 20% to 200% Deposit Bonus | - | 20% - 200% Deposit Bonus |
| Education | No | No | No | No |
| Platforms | - | - | MT4, MT5 | - |
| Leverage | 1:500 | 1:500 | 1:1000 | 1:500 |
| Visit | ||||
| Review | Binarycent Review |
Videforex Review |
World Forex Review |
Raceoption Review |
Trading Instruments Comparison
| Binarycent | Videforex | World Forex | Raceoption | |
|---|---|---|---|---|
| Binary Options | Yes | Yes | Yes | Yes |
| Ladder Options | No | No | No | Yes |
| Boundary Options | Yes | No | No | No |
| CFD | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | Yes | Yes |
| Stocks | Yes | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes | Yes |
| Commodities | Yes | Yes | Yes | Yes |
| Oil | Yes | Yes | Yes | Yes |
| Gold | Yes | Yes | Yes | Yes |
| Copper | No | Yes | No | No |
| Silver | Yes | No | Yes | Yes |
| Corn | No | No | No | No |
| Futures | No | Yes | No | Yes |
| Options | Yes | No | No | No |
| ETFs | No | No | No | No |
| Bonds | No | No | No | No |
| Warrants | No | No | No | No |
| Spreadbetting | No | No | No | No |
| Volatility Index | No | No | No | No |
Binarycent vs Other Brokers
Compare Binarycent with any other broker by selecting the other broker below.
Popular Binarycent comparisons:
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| BinaryCent is an unregulated binary options broker that offers 24/7 trading on forex, cryptos and stocks with payouts up to 95%. Despite its lack of regulation, this broker takes client security seriously and stores client funds in European banks. The broker also offers CFDs with very high leverage up to 1:500. | ||