CloseOption vs Binarycent
CloseOption or Binarycent – which is better for UK traders 2024? Compare CloseOption and Binarycent in this detailed breakdown of their platforms, features and fees.
| CloseOption | Binarycent |
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| CloseOption is ranked #3 among binary options brokers. | Binarycent is ranked #9 among binary options brokers. |
| CloseOption is a Georgia-headquartered broker with over a decade in the trading industry. The brand offers high/low binary options trading on forex and crypto markets, with decent payouts, welcome bonuses, 24/7 customer support and intuitive trading software. | 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. |
| Pros | |
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| Cons | |
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| Awards | |
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| FCA Regulated | |
| No | No |
| Instruments | |
| Binary Options on Forex & Cryptos | CFDs, Forex, Stocks, Cryptos, Options, Commodities |
| Bonus | |
| 20% to 200% deposit bonus | |
| Demo Account | |
| Yes | Yes |
| Minimum Deposit | |
| $5 | $250 |
| Payment Methods | |
| Minimum Trade | |
| $1 | $0.01 |
| Regulator | |
| National Bank of Georgia | VFSC |
| Mobile Apps | |
| iOS & Android | iOS, Android |
| Trading App | |
CloseOption’s TradeRoom stands out as a fantastic option for beginners, with its streamlined design minimizing the learning curve. It’s super easy to place short-term trades from 5 seconds with basic charting tools at your disposal. Tutorials and frequent updates with video demonstrations also enhance the experience, while weekly contests are available to skilled traders on the go. |
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. |
| iOS App Rating | |
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| Android App Rating | |
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| Margin Trading | |
| No | Yes |
| MetaTrader 4 | |
| No | No |
| MetaTrader 5 | |
| No | No |
| cTrader | |
| No | No |
| AlgoTrader | |
| No | No |
| OmniTrader | |
| No | No |
| TradingView | |
| No | No |
| Autochartist | |
| No | No |
| eSignal | |
| No | No |
| Trading Central | |
| No | No |
| STP Account | |
| No | No |
| ECN Account | |
| No | No |
| DMA Account | |
| No | No |
| MAM Account | |
| No | No |
| PAMM Account | |
| No | No |
| LAMM Account | |
| No | No |
| Demat Account | |
| No | No |
| AI / Machine Learning | |
| No | No |
| Robo Advisor | |
| No | No |
| Negative Balance Protection | |
| No | No |
| Market Maker | |
| No | No |
| P2P Trading | |
| No | No |
| Spot Trading | |
| No | Yes |
| Auto Trading | |
| Centobot for binary options | |
| Copy Trading | |
| No | Yes |
| Copy Trading Platform | |
| The copy trading tool is available for all account types, including the lowest - Bronze. You can pick a trader based on their returns and ranking. The sign-up process is quick and account activation is instant. | |
| Social Trading | |
| No | Yes |
| VPS Hosting | |
| No | No |
| Tournaments | |
| No | Yes |
| Demo Competitions | |
| Yes | No |
| Ethical Investing | |
| No | No |
| Custodial Account | |
| No | No |
| Guaranteed Stop Loss | |
| No | Yes |
| Inactivity Fee | |
| 0.5% | |
| Islamic Account | |
| No | No |
| Account Currencies | |
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| Commodities | |
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| CFD | |
| 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 | |
| CloseOption offers binaries on 25+ forex pairs, including majors like EUR/USD and a few minors like AUD/JPY. Payouts vary by currency, with decent typical payouts of 75% for GBP/USD. | 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. |
| Assets | |
| 20+ | 25+ |
| GBPUSD Spread | |
| No fee - payouts approx. 80% (Copper) | Floating |
| EURUSD Spread | |
| No fee - payouts approx. 80% (Copper) | Floating |
| EURGBP Spread | |
| No fee - payouts approx. 80% (Copper) | Floating |
| Cryptocurrency | |
| CloseOption traders can access high/low binary options on five major cryptos all paired with USD. Payouts of 40% are available due to digital assets' high market volatility, which compares well with rivals. | 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. |
| Spread | |
| No fee - payouts approx. 40% (Copper) | N/A |
| Coins | |
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| Crypto Lending | |
| No | No |
| Crypto Mining | |
| No | No |
| Crypto Staking | |
| No | No |
| Auto Market Maker | |
| No | No |
| Binary Options | |
| CloseOption offers binary options trading on 30+ fiat and digital currencies through an easy-to-use web-based platform. 15 contract timeframes are available from 30 seconds to 1 month, suiting both short-term and long-term traders. New users also get a joining gift. | 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. |
| Payout | |
| 95% | 95% |
| Expiration Times | |
| 30 seconds - 1 month | 5 seconds - 30 days |
| Boundary Options | |
| No | Yes |
| Ladder Options | |
| No | No |
| CloseOption | Binarycent |
| More Comparisons | |
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CloseOption vs |
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