BinaryCent is a relatively new entry in the trading market. Founded in 2016, BinaryCent is licensed and registered in Vanuatu. With BinaryCent, you can trade in binary options, forex, and CFD. BinaryCent has a custom trading platform. So, what does this brokerage bring to the market?
Below is the 2020 review of BinaryCent:
Account Types: 9.2 Out of 10
Like other brokers in the market, BinaryCent offers a wide variety of account types. Whether you are a beginner or a seasoned veteran, BinaryCent has an option for you. Each account type offer features that can help you optimize your trading success.
Here are some of the account types that BinaryCent offers:
You will need a deposit of at least $250 to open a bronze account. One of the perks of opening this type of account is the 20% bonus that comes with your first deposit. When you make the initial deposit of $250, $300 will be available to you for trading.
Other perks include 1-hour withdrawals, live chat support, and the ability to trade on a demo account.
For a deposit of $1,000, silver account holders can enjoy a 50% welcome bonus on their first deposit. After your initial $1,000 deposit, $1,500 will be available to you. As a silver account holder, you get live chat support, three risk-free trades, a personal account manager, and a master-class web session.
Opening a Gold account requires a minimum deposit of $3,000. Gold account holders benefit from all the features that come with Silver and Bronze equivalents. Additionally, Gold members enjoy a 100% welcome bonus on their first deposit.
Before you can withdraw any of your welcome bonus, you must trade the amount a couple of times. This limitation is active on all account types. You also have the option to upgrade and downgrade your way through different accounts. I would recommend starting with Bronze and working your way to Gold once you gain the confidence to manage such capital.
The fact that you need at least $250 to open an account at BinaryCent and that they don’t offer a demo account, may repel some beginners traders. That’s why you should search a lot before start trading with any broker. Take a look at these brokers that offer demo and free accounts: DEGIRO, Robinhood and eToro
Trade Types and Payouts: 9.4 Out of 10
BinaryCent offers 65-85% payouts. One feature that stands out is the expiry times offered:
Turbo Trades are quick. These trades can last from 30 seconds to 15 minutes. These types of trades are popular among beginners as they have a rapid turnaround.
These are popular among experienced traders who understand the markets. Intraday traders rely on several trades in a single day. They also follow the stock market and open well-thought-out positions.
Long Term trades
Long term options can last up to five weeks. To become a long term trader, you need more patience and analytical skills.
Mobile Trading: 9.6 Out of 10
For traders who like trading on the go, BinaryCent offers trading options on mobile devices. BinaryCent mobile app is available on both Android and iOS smartphones and tablets. With a minimum deposit of $10, you can trade on your mobile device. The app allows you to access 24/7 live video chat features.
You can perform all tasks on the mobile app, including trading, checking trading history, live chat, and more. The charts on the mobile app come with technical indicators.
Deposits and Withdrawals: 9.6 Out of 10
The minimum amount that you require to open an account on BinaryCent is $250. The minimum amount that you need to make a trade is $0.10. The benefit of having such a low entry point is that you can get in a lot of trades for your money. BinaryCent supports deposits through Bitcoin.
The minimum withdrawal amount is $50. It takes as little as an hour to process your withdrawal.
Customer Support: 9.6 Out of 10
BinaryCent offers customer support through live video chat. As soon as you arrive on the site, the live chat feature will pop-up. You can minimize it until you need it. Apart from live video chat, customer support is also available on email and phone calls.
Customer support services are available in multiple languages including English, Chinese, and Russian. Alternatively, you can send a call request by leaving your details. As soon as an agent is available, they will get back to you.
Special Features: 9.6 Out of 10
There are many features that make BinaryCent stand out from its competitors. They offer very competitive minimum trades, a fast turnaround withdrawals, the option to trade on a demo account, and more. You can also trade round the clock even on weekends. It is also amazing that you can chat via live video with their customer support agents.
10 Reasons to Choose BinaryCent
- Bonus Features: Depending on the account type that you choose, you could earn a reward of up to 100% of your first deposit.
- Timely Withdrawals: BinaryCent offers quick withdrawals processing. Your money will be in your hands within a single hour.
- Non-Stop Trading: BinaryCent supports the 24/7 system of trading. You can trade and seek support on any day (weekends included) round the clock.
- Wide Range of Deposit and Withdrawal methods: Money transfers into and out of your account are available via channels like Visa, MasterCard, Ethereum, Altcoins, Skrill, and Neteller.
- Security: Trading on BinaryCent is 100% secure. The firm takes data protection seriously.
- Trader Research and Education: You can learn the ropes under the supervision and guidance of an experienced trader.
- Customer Support: With live video chat, emails, and phone calls, you can access customer support round the clock on any day of the week.
- A large Capacity to Process Transactions: BinaryCent handles over 10,000 transactions daily. Delays are rare on their platforms.
- Intuitive Demo Account: You can practice and develop your trading skills on BinaryCent’s demo account.
- Trading on the Go: BinaryCent allows you to study the charts and open positions on your mobile phone. Their mobile trading platforms are available to Android and Apple devices.
For a fairly new broker, BinaryCent checks a lot of boxes. They are competitive and offer all the features that you would expect from a seasoned broker. The areas where BinaryCent shines include their mobile trading platform, welcome bonuses, and support systems.
BinaryCent is an excellent broker. If you are looking to trade binary option, give this broker a chance.