BinaryCent Review
Binary Cent, a new binary options broker that has gained widespread popularity
Binary options brokers are apart of a saturated market. With a slew of successful and fraudulent brokers, it’s hard to know which one to trust. Especially when they are brand new and haven’t had time to build up much of a reputation. A broker who can relate to this is Binary Cent, a new and exciting broker that was only recently established. The company has gained massive popularity in a very short time and is backed by a team of professional investors.
Even with it’s recent and fast success, the broker still doesn’t have the time and experience under their belt. So, how does one know if they are competent with their services and can be trusted? Well, this is why we have conducted thorough research and reviewed Binary Cent. Let’s find out if they can be trusted in the in-depth review below.
Company information
Binary Cent is a brand new binary options broker, being established only this year in 2017. The company is owned by Finance Group Corp, with their headquarters located at 2nd Floor, Transpacific Haus, Lini Highway, Vanuatu. However, the company is operated out of Scotland by Suomen Kerran LP, with their office located at Centre Office, 58A Broughton Street, Edinburgh, EH1 3SA, Scotland. The company is licenced and registered in Vanuatu, but appears to be unregulated by a reputable authority of the financial markets. However, the company has thus far proven to be reputable and competent with the services they provide.
Trading Platforms
Binary Cent has created their very own and exclusive platform which is entirely web-based. The platform is very user-friendly and pleasing to the eye with a dark background and bright overlaying colors. Since the platform is developed from scratch and is so new, it looks as if the company has taken what works from previously successful platforms and have implemented it in theirs. The platform is also equipped with all the necessary tools and features necessary for analytical research and in-depth chart analysis. As well, the platform features 3 options types for trading; Turbo, Intraday, and Long-Term options. Traders are able to execute trades instantly with the platforms lightning fast speeds. All in all, this new platform stands up to the best of them with their advanced features and speeds, all while offering a stunning interface that is simple easy to use.
Mobile
Since BinaryCen’ts trading platform is web-based, the platform is accessible from mobile devices such as smartphones and tablets. The mobile platform is optimized for these devices and is compatible with both Apple and Android devices. As well, the company has even developed an app that is downloadable from Apple’s App Store and the Google Play store. The mobile application is equipped with all the necessary features one would expect, and provides traders with a satisfying mobile trading experience. As well, the application is frequently updated to improve and fix bug issues.
Assets available
Binary Cent has a very limited amount of tradeable assets available. They keep things quite simple with their main focus on trading currencies and some trading with commodities. As for tradeable currencies, the trading of cryptocurrencies is popular with this broker. They offer trading on Bitcoin, Litecoin, Ethereum, Zcash, Primecoin, Peercoin, BlackCoin, Dash, Monero, Bitcoin Cash and Reddcoin. As for commodities, they are quite limited with gold and silver being the most popular. The asset selection may be low with this broker, but it’s kind of nice to keep things simple if that’s all you’re interested in trading.
Fees and Payouts
Traders do not have to pay any fees for trading with Binary Cent. There are no sign-up costs or maintenance fees for holding an active account. As well, traders do not have to pay any withdrawal fees which is an attractive incentive for traders since most binary options brokers charge withdrawal fees. However, their may be fees through the trader’s credit card or e-wallet, but not on Binary Cent’s end. As for payouts with this broker, they are average when it comes to industry standard with maximum payouts of 80%. Payouts will vary depending on account type and assets traded.
Bonuses & Account Types
Binary cent offers trader 3 different account types to choose from, each offering something different, see them below:
Bronze Account
» $10 minimum deposit
» 20% bonus
» withdrawals within 1 hour
Silver Account
» $100 minimum deposit
» 50% bonus
» Master class web session
» First 3 risk-free trades
Gold Account
» $300 minimum deposit
» 100% bonus
» Swiss prepaid card
» Personal success manager
In addition to the accounts above, Binary Cent offers a live demo account for traders to get familiar with the platform. This account provides traders with virtual money and allows access to all the features as the real account.
As for bonuses, Binary Cent delivers quite well. In addition to the bonuses listed under the accounts above, Binary Cent allows traders to participate in weekly contests where they can win cash prizes of up to $2000.
Deposits and withdrawals
Traders are only required to deposit a minimum of $10 to open their most basic bronze account. This amount is very low compared with many other binary options brokers, with an average minimum deposit of $250. Binary Cent also offers traders various methods of payment and withdrawal such as; major credit/debit cards (Visa, MasterCard, Maestro), bank-wire transfer, and numerous e-wallets such as Qiwi, Skrill, Neteller, WebMoney, and PerfectMoney. Also, traders can use various cryptocurrencies to deposit and withdrawal funds. Some of these include; Bitcoin, Litecoin, Ethereum, Monero, BitcoinCash, Dash, Primecoin, and Reddcoin. Withdrawals times are very fast, guaranteed within 1 hour, and they must be a minimum amount of $50.
Customer support
Customer support is another area Binary Cent excels in, with 24/7 support through various methods. They offer multilingual phone support in 6 different countries across the world, and have their site accessible in 8 languages including English, Russian, Spanish, German, French, Thai, Arabic and Portuguese. The site also features a live chat function that receives replies within minutes from a professional staff member. Also, the website has a contact page with a forum traders can fill out to be contacted through email. As well, there is a FAQ section on their website, but it is rather limited.
Extra features and resources
Binary cent traders are blessed with a few unique and helpful features. Traders can trade with just 1 cent, hence the low minimum initial deposit. Also, traders can enjoy risk-free trading through the brokers higher tier accounts. Unfortunately, there is not an educational resources section on their website, but member can benefit from informative video blogs.
Verdict
All in all, Binary Cent proves itself to be a competent and trustworthy binary options broker thus far. It is still very early to tell, but there have been no complaints and the platform is very user friendly and quite sophisticated. The amount of tradeable assets is quite low, but they are geared towards the cryptocurrency market. The company has great customer support and numerous deposit/withdrawal methods. As well, members can benefit from bonuses, contests, and other unique trading features. However, time will tell if this broker can hold up the competent reputation they have established so far.
Pros
» A simple and intuitive trading platform
» An excellent choice of deposit and withdrawal methods including e-Wallets and cryptocurrency
» Extremely fast withdrawal and deposit times
» Strong 256 bit encryption for the client’s safety
Cons
» Limited amount of tradeable assets
» No complex video tutorials
» No email support option
FAQ
Is Binary Cent regulated?
Yes, but not by a recognized regulatory authority.
What methods can I use to deposit funds at Binary Cent?
Visa, MasterCard, Maestro, bank-wire transfer, and e-wallets Qiwi, Skrill, Neteller, WebMoney, and PerfectMoney. As well as Bitcoin, Litecoin, Ethereum, Monero, BitcoinCash, Dash, Primecoin, and Reddcoin.
Does Binary Cent accept international traders?
Yes, they accept traders from all over the world.
How long will it take for my withdrawal request to be processed?
Within 1 hour, except for some withdrawal methods.
Is there a fee for making a withdrawal?
No, it is absolutely free.
What is the minimum initial deposit requirement at Binary Cent?
The minimum deposit is only $10.
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