When you search for Broker platforms to trade, you will find a whole lot of them. It is really very challenging to find a good broker that too a binary broker platform. tradingcritique.com provides you with this solution through this updated Binarycent Broker Review which is a regulated binary broker platform.You will get all details about the Binary cent trading platform in this article. The Binarycent broker platform is not a scam as it is regulated by VFSC.
Table 1: Binarycent Overview
| Binarycent Highlights | |
|---|---|
| Regulations | VFSC |
| Accounts | Bronze Silver Gold |
| Demo Account | Yes |
| Minimum deposit | $250 |
| Maximum Leverage | 1:100 |
| Payment Method | Bank Transfer VISA MasterCard Skrill NETELLER Perfect Money Bitcoin Litecoin Altcoins Ethereum |
| Coins | ZEC, XRP, XMR, SAN, OMG, LTC, BTC, IOT, ETH, ETC, EOS, DSH |
| Customer Support | 24/7 |
| Fees | Details |
| Inactive Fee | YES |
| Deposit Fee | YES |
| Withdrawal Fee | YES |
| Commission | NO |
| Markets Assets | Details |
| Bonds | YES |
| CFDs | YES |
| Commodities | YES |
| Stocks | YES |
| Indices | YES |
| Currencies | YES |
| Cryptocurrencies | YES |
| ETF | YES |
| Forex | YES |
| Futures | N/A |
| Options | YES |
| Precious Metals | N/A |
| Shares | N/A |
| Trading Platforms | Details |
| MetaTrader 5 | YES |
| Desktop Platform | YES |
| Mobile Trading | YES |
Binarycent Broker Review- An Intro
Binarycent is an online trading platform for CFD trading, cryptocurrencies, Forex, as well as binary options. This platform was developed and launched in 2017 by Wave Makers LTD which is a group of serious investors with many years of experience in trading platforms. Their headquarters is located in Vanuatu. This company was authorized and regulated by Vanuatu Financial service commission [VFSC].
Binary cent provides 3 types of trading accounts along with financial instruments like Forex, Bonds, Indices, Stocks, currencies, commodities and cryptocurrencies. The minimum amount of deposit is $250 and the maximum leverage is up to 1:100. Binarycent is specialized in CFD trading as well as Forex and Binary options.
Regulations & Trustability Review of Binary cent broker
Binarycent was regulated by the Vanuatu financial services commission (VFSC). Hence we can confirm Binarycent as a legit broker platform and it is not a scam. It operates under its corporate holding company called Finance Group Corporation.
Binary mate is the sister company of Binary cent which focuses on the mainstream market only. Binarycent focuses on beginner traders who invest a minimum amount as low as 10 cents. Its data protection protocol is regularly updated to secure the clients’ confidential information is always safeguarded.
Table 2: The regulations of Binary cent
| Regulations | Country | Broker Platform | Company Name | Registration details |
|---|---|---|---|---|
| Vanuatu Financial Services Commission (VFSC) | Vanuatu | Binarycent | Wave Makers LTD | 103581 |
Binarycent Broker– Awards
Binary cent broker received many awards around the world. The Best Broker 2015 award was awarded by Fair Binary Options. This proves the best service provided by the Binarycent company.
A Review of the Countries that accept Binary cent
Check out the list of countries which allows Binarycent platform for trading along with the countries where Binarycent trading platform is forbidden.
Table 3: Countries that accept and forbid Binary cent
| Accepted Countries | Forbidden Countries |
|---|---|
| Australia | Canada |
| Denmark | Cyprus |
| France | Israel |
| Germany | United States |
| Hong Kong | |
| Canada | |
| Cyprus | |
| Israel | |
| United States | |
| India | |
| Italy | |
| Kuwait | |
| Luxembourg | |
| Norway | |
| Qatar | |
| Saudi Arabia | |
| Singapore | |
| South Africa | |
| Sweden | |
| Thailand | |
| United Arab Emirates | |
| United Kingdom |
Account types of Binarycent Broker – A Review
Binarycent has 3 varieties of trading accounts. They are,
Bronze Account
All Bronze account holders will receive a joining bonus of 20% and the mandatory binarycent minimum deposit is $250.
In this type of account, you will receive the withdrawal amount in 1 hour.
You will also get 24×7 live chat support.
You can also use a Demo account.
Silver Account
All Binarycent Silver account holders will receive a joining bonus of 50% and the mandatory minimum deposit is $250.
You must do trades with the bonus amount to withdraw the amount to differentiate your account from spam accounts.
Silver account has a special 3 times risk-free trade option.
You can learn and clear doubts about trading through the master class session.
There is also special access to copy trading tools in this Silver account.
Gold Account
Binary cent Gold account holders receive a joining bonus of 100% and the mandatory binarycent minimum deposit is $3000.
You should trade a minimum number of times before withdrawing the amount.
In the Gold account, you will receive all the features of a Silver account and Bronze account.
A Personal Success Manager will be exclusively available for you to assist in trading and other support. These managers are available for only Gold Account Holders.
Table 4: Initial Deposit, Maximum Leverage Commission and Spread in each account type of Binary cent
| Account type | Initial deposit | Maximum Leverage | Commission | Spread |
|---|---|---|---|---|
| Bronze | $250 | 1:100 | Yes | Variable |
| Silver | $1000 | |||
| Gold | $3000 |
Binary cent Account Opening Process
The Binarycent account opening process is very short and easy. In a few steps, you can open a tradingaccount and begin investing in financial instruments.
Follow the below steps to open a Binarycent account:
Binarycent Trading Platform Review
Metatrader 5 is the trading platform available in Binarycent. It was released in 2010 by MetaQuotes after the grand success of MetaTrader 4 which is still in existence. It was created for the advanced trader with out-of-the-box trading choices and capabilities.
MetraTrader5 is available in:
- Mobile version
- Desktop version
MetaTrader 5 – Features
Table 5: Trading Platform in Binary cent
| Trading Platform | Binarycent |
|---|---|
| Desktop Platform –Mac | Yes |
| Desktop Platform – Windows | Yes |
| Desktop Browser Platform | Yes |
| Mobile Site Platform | Yes |
| iOS Binarycent App Platform | Yes |
| Android Binarycent App Platform | Yes |
| Windows Binarycent App Platform | No |
| Another Mobile OS Platform | No |
| Real-time Updates | Yes |
| Portfolio Details | Yes |
| Research Reports | Yes |
| Global Indices | Yes |
| Interactive charts | Yes |
| Personalized Advisory | Yes |
| Multi-Account Management | Yes |
| Live markets | Yes |
| Languages Supported in Binarycent Trading Platforms | English Chinese Arabic German Spanish |
Binary cent MT5 Mobile Version
The Binarycent mobile app is easy to use and free which is an extraordinary alternative to the Binary cent website. People who will not have much time to trade can shift to the mobile app. Some extra features are available on the Binarycent web platform.
Binarycent app features insights into your transactions and trading history. It is highly secure that you need to verify your mobile number to use the app. The only procedure is just to download the binary cent mobile trading app from Apple’s App Store for iPhone and iPad or Google Play store for Android devices. Then Login to your account to resume your trading in Binarycent.
Binarycent MT5 Desktop version
Binarycent provides an excellent desktop trading platform with a lot of features. It is easy to navigate the Binarycent website and after you login your trading account you can easily start trading. Various links lead to trading tools like technical analysis, chart patterns and economic announcements. This platform eliminates the requirement to download any software on your computer.
Financial Instruments & Assets Review of Binary cent broker
Binary cent trading platform provides five asset classes for you to trade. They are classified into:
Additionally, traders are provided with about 150 trading instruments to trade. You need to pay attention to what trading instruments you choose to trade. The payout depends upon the asset type. The payout is mainly focused on offering assets, including Cryptocurrencies.
Review on Funding & Withdrawal in Binarycent
Binarycent broker does not charge any withdrawal fees, other than a 5% charge for credit card withdrawals. There is no commission to open an account. But you have to pay 20% of the withdrawal amount from your Binary cent trading account to transfer the money to your bank account. So, you can consider this 20% as a fee for withdrawal in Binarycent. The minimum withdrawal amount is $50. All withdrawal requests will be processed within 1 hour.
Deposit & Withdrawal options of Binary cent
Deposit & Withdrawal Options
Review on Cost and Fees for Binarycent Broker
For each trade, the commission varies between around 0.1% and 0.2% of the asset’s underlying value. You will be charged for both the opening and closing of a position.
A CFD position held overnight will earn daily interest at a rate that is higher than the established standard rate. You will typically pay an additional 2% to 3% over this rate. The first margin you pay to execute the trade does not reduce the cost of borrowing. On the underlying asset’s price, interest is payable.
Another cost associated with CFD trading is data fees and the fee for using the trading platform. If you make a certain amount of trades each month, you possibly find that they’re willing to waive these costs. Additionally, you’ll pay more to put up an assured stop-loss, which is likely to cost you around 0.3%.
Dividends are occasional costs associated with CFD trading. If you go longer on shares when a dividend for it does become due, you’ll be paid a sum that is comparable to the dividend amount that you’d receive if you did own the shares. When you hold a short CFD position, a fee for that amount will be applied to your account.
Leverage available in Binary cent Broker
The ability which allows a trader to gain greater disclosure to the market than the sum a trader deposited to start trade is called leverage. Leveraged products increase a trader’s forthcoming revenue – however, it also creates a risk of loss. The maximum leverage available for Binary cent clients is 1:100.
For example,
If trading ticket sizes of 500,000 USD/JPY and a trader has $1,000 in his trading account, the leverage will correspond to 500:1.
Review of the Special Features available in the Binary cent trading platform
Trading strategies that can be executed on Binarycent Broker Platform
Some of the CFD trading strategies that can be executed on the Binarycent trading platform are,
Bonuses & Promos available in Binarycent Broker
Depending on the type of trading account, the trader can register for the bonuses offered by Binary cent in the range of 20% – 100%. However, there are terms and conditions attached to these, so the traders should be aware of these before applying for the bonuses.
One of the necessities for the encashment of the bonus is to achieve a turnover (minimum trading volume). The bonus mostly depends on the amount you deposit and can reach up to 100%.
Binarycent has also provided their traders with extra incentives such as Risk-Free Trades and trading contests, other than the deposit bonus.
If the total balance of the first 3 transactions is negative, Binary cent Gold account holders will be compensated for their trading losses as they enjoy the benefits of risk-free trade.
Other than the risk-free trade scheme, Binary cent also holds a regular trading contest with a prize pool of $20,000. 20 winners will be selected from the contestants every week. All trading accounts are eligible for this contest. Winners are selected every week and listed on the binarycent website.
Education & Research Review of Binarycent Broker
Binary cent has a knowledge base section under which they give information on various topics. You can find information about CFD, Forex topics, Strategies to follow. The information given in the Binarycent website is limited. Check the Education section under tradingcritique.com to clearly understand about the basic and advanced trading strategies.
Customer Support Review of Binary cent Platform
In Binarycent, support services are provided on a 24/7 basis. Traders who need help can reach out to the support team through live chat, contact them via the website or call them directly on the telephone.
Table 6: The contact numbers of Binary cent service in different languages
| Language | Contact number | Social Media |
|---|---|---|
| English | +1-8299476393 | https://twitter.com/Binarycent https://www.instagram.com/Binarycent_com |
| Russian | +7-499-3806317 | |
| Chinese | 3-395-0396 | |
| Thai | 02-21345671 | |
| Singapore | 965-65425142 | |
| Australia | 61-8-5550-7288 |
In a Nutshell
Have you used the Binarycent trading platform? Share your experience in the comment section below. Feel free to ask us any doubts about trading, our TradingCritique trading experts will give answers. Get instant updates on important news related to Financial markets, Global financial news, and Reviews of different Broker platforms available globally on tradingcritique.com.
