Contents
- 1 Overview of Binarycent
- 2 Company Background
- 3 Account Types
- 4 Bonuses and Promotions
- 5 Deposit and Withdrawal Options
- 6 Trading Instruments
- 7 Trading Platform
- 8 Customer Support
- 9 Education and Resources
- 10 Fees and Commissions
- 11 Final Thoughts
- 12 Frequently Asked Questions About Binarycent
- 12.1 What is Binarycent?
- 12.2 Is Binarycent regulated?
- 12.3 What is the minimum deposit required?
- 12.4 What types of accounts does Binarycent offer?
- 12.5 What is the maximum bonus available?
- 12.6 What are the available trading instruments?
- 12.7 Can I use a demo account?
- 12.8 What platforms can I use for trading?
- 12.9 What fees should I be aware of?
- 12.10 How can I contact customer support?
Broker rating:
| Information | Details |
| Broker | Binarycent |
| Company Name | Wave Makers LTD |
| Headquarters | Marshall Islands |
| Regulation | No |
| US Traders Accepted | Yes |
| Max Payout | 98% |
| Bonus | 100% Welcome Bonus, Risk-Free Trades |
| Trading Platform | Proprietary |
| Trading app | No |
| Demo Account | Yes |
| Early Closure | No |
| Deposit Options | Credit/Debit card, Cryptocurrencies, Neteller, Skrill, Perfect Money, WebMoney, Wire transfer, QIWI, JCB |
| Deposit Currencies | US dollar, Euro, British pound, Russian ruble |
| Minimum Deposit | $20 |
| Minimum Trade | $0.01 |
| Maximum Trade | No Limit |
| Online Since | 2017 |
| Trading Instruments | Forex, Cryptocurrencies |
| Number of Trading Instruments | 42 |
| Binary Option Types | High/Low (Turbo, Intraday, Long-Term) |
| Customer Support Types | Live chat, Regional phone support, Web form |
| Tools Offered | Copy trading, Personal success manager, Double Up, Rollover, Early Close, Market analysis, Trading contest |
| Awards | None |
| Languages | English, Spanish, German, French, Chinese, Thai, Arabic |
Binarycent is a trading platform that specializes in binary options, particularly appealing to both novice and seasoned traders. Launched in 2017, Binarycent is operated by Wave Makers LTD, which is based in the Marshall Islands. Despite its operational presence, it’s important to note that the broker is unregulated, which raises certain risks for traders. Binarycent’s user interface is designed to be intuitive and accessible, making it easy for traders to navigate through different options and manage their portfolios.
The platform offers a variety of trading instruments, including forex and cryptocurrencies, with a total of 42 assets available for trading. One of the standout features of Binarycent is the minimum trade size of just 1 cent, allowing traders with various budgets to participate in the market. Additionally, newcomers can take advantage of a generous welcome bonus that matches the first deposit by up to 100% on amounts up to $25,000, although it’s essential to consider the rollover requirements attached to such bonuses.
The deposit options are diverse, supporting various methods including credit/debit cards and cryptocurrency transactions. Customer support is accessible through multiple channels, including live chat and regional phone support, ensuring that traders can get assistance as needed. However, potential traders should be cautious about the various fees associated with trading on this platform, including inactivity fees and withdrawal limits.
Advantages:
- Up to 100% welcome bonus on first deposit
- Wide range of deposit options, including cryptocurrencies
- High maximum payout of 98%
- Accessible with a minimum deposit of just $20
- Offers a demo account for beginner
Disadvantages:
- Not regulated by any financial authority
- High inactivity fee of $10 per month
- Limited variety of trading instruments with only 42 options
- Fees for withdrawals and transfers
- Customer support experiences can vary
Binarycent is an online trading platform that has made a name for itself in the world of binary options trading since its inception in 2017. Operated by Wave Makers LTD and headquartered in the Marshall Islands, Binarycent has undergone notable transformations under new management, offering traders various incentives, tools, and a unique trading experience. This review will cover all essential features, including account types, deposit options, trading instruments, platform usability, and customer support, to determine if Binarycent is a worthwhile option for both novice and seasoned traders.
Overview of Binarycent
Founded in 2017, Binarycent has gained traction among traders interested in binary options and Forex markets. Despite its unregulated status, the platform attracted various users by providing appealing bonuses, a variety of deposit options, and a user-friendly interface. Notably, its attractive maximum payout of up to 98% and a minimum trade amount of just $0.01 set it apart in the crowded binary options marketplace.
Company Background
Binarycent was initially operated by Finance Group Corp. but is currently under the management of Wave Makers LTD. Based in the Marshall Islands, this company lacks regulatory oversight, which is a critical factor for potential traders to consider. While the trading environment may appear less secure without regulatory bodies, Binarycent still works to ensure user satisfaction through competitive bonuses and various support options.
Account Types
Binarycent offers three different account tiers, each designed to provide varying levels of benefits. The tiers include Bronze, Silver, and Gold, catering to a wide range of traders.
Bronze Account
The Bronze Account is the entry-level tier that requires a minimum deposit of $20. It provides users with a range of features, including a 20% bonus, access to the demo account, and a copy trading tool. Additionally, clients receive 24/7 support through live chat.
Silver Account
Upgrading to the Silver Account usually requires a higher deposit amount. Although specifics on the deposit threshold are not disclosed, this tier provides enhanced benefits such as increased bonus percentages and faster withdrawal times.
Gold Account
The top-tier Gold Account provides the most extensive benefits, including a 100% welcome bonus, access to master class web sessions, and a personal success manager. This account allows for maximum trading flexibility, especially for high-volume traders.
Bonuses and Promotions
Binarycent sets itself apart with its generous bonus offerings. The welcome bonus can match up to 100% on the first deposit, making it exceedingly attractive for new clients looking to enhance their initial investments. Additionally, customers are offered risk-free trades, where losses can be compensated through bonus money, increasing the overall trading experience.
Deposit and Withdrawal Options
Various deposit methods make funding a Binarycent account straightforward. The platform accepts a plethora of options, including:
- Credit and Debit Cards
- Cryptocurrencies (Bitcoin, Ethereum, altcoins)
- Payment services such as Neteller, Skrill, WebMoney, and Perfect Money
- Wire Transfers
- Unique methods like QIWI and JCB
The acceptance of multiple currencies further enhances its usability, catering to users from diverse backgrounds. However, it’s essential to note that there is a minimum deposit requirement of $20. Withdrawals also come with specific restrictions, including a minimum of $50, which may impact how often users can extract profits from their accounts.
Trading Instruments
Binarycent focuses primarily on two categories of trading instruments: Forex and cryptocurrencies. The platform offers a total of 42 instruments, which is not extensive compared to many competitors but still provides traders with various options.
Forex Trading
The Forex section allows traders to trade on popular currency pairs, enabling users to take advantage of the fluctuations in global currencies. While they have a limited selection, the platform ensures competitive spreads and decent liquidity for traders.
Cryptocurrency Trading
For those interested in digital currencies, Binarycent supports the trading of leading cryptocurrencies, enhancing the appeal of the platform in the wake of growing interest in this market. Traders can explore BTC, ETH, and an array of altcoins in their trading strategies, catering to both short-term and long-term trading approaches.
Trading Platform
Binarycent utilizes a proprietary trading platform that is designed with user-friendliness in mind. The interface is modern and visually appealing, featuring a dark blue background that enhances chart viewing. The platform allows traders to execute trades with a minimum amount of just $0.01, making it accessible to those who want to start small.
Types of Trades Available
The trading options primarily consist of the High/Low trade type, which is a common choice in binary options trading. Despite being limited to this basic format, Binarycent offers variations labeled as Turbo, Intraday, and Long-Term, each defining different expiration times.
While seasoned traders may find the lack of diversity in trading types limiting, the focus on High/Low trades ensures that users can promptly grasp the core mechanics involved in binary trading.
Additional Features
Binarycent includes various tools such as the Copy Trading feature, which enables less experienced traders to mimic the trades of more successful investors. Furthermore, options for Double Up, Rollover, and Early Close provide additional flexibility in managing trades.
Customer Support
Customer support is a vital component of the trading experience, and Binarycent provides multiple avenues for users to seek assistance. The provider offers live chat support, ensuring that queries can be resolved quickly. Furthermore, traders can access regional phone support or submit inquiries through a web form.
Binarycent aims to maintain strong communication channels to assist traders at every level. The availability of support in multiple languages, including English, Spanish, German, French, Chinese, Thai, and Arabic, further enhances its global appeal.
Education and Resources
For traders looking to enhance their skills, Binarycent offers educational resources like master class web sessions and an FAQ section. These tools are designed to provide vital knowledge on binary options trading and improve overall proficiency.
The inclusion of market analysis tools allows traders to gain insight into market conditions, enhancing their trading strategies and decision-making processes.
Fees and Commissions
While Binarycent provides numerous incentives, it is crucial to be mindful of the associated fees:
- 5% transfer fee for credit and debit card transactions
- $50 withdrawal fee for wire transfers
- $10 monthly inactivity fee
- Swap fees of 0.07% based on the position’s face value
It is essential for traders to consider how these fees can affect profitability, especially the monthly inactivity fee. Unlike many brokers that apply inactivity fees after several months, Binarycent implements this fee monthly, demanding that traders remain active to avoid unnecessary costs.
Final Thoughts
Binarycent presents a mixture of attractive features along with certain drawbacks. Its bonuses, user-friendly platform, and various deposit methods are significant advantages that appeal to many traders. However, the lack of extensive regulation, the fee structures, and limited trading types may be considered disadvantages when compared to other brokers. Ultimately, whether Binarycent is the right choice for your trading needs will depend on your investment goals, risk tolerance, and trading experience.
Binarycent, established in 2017 and currently operated by Wave Makers LTD from the Marshall Islands, offers a trading platform primarily focused on binary options. Not regulated, this broker provides enticing features such as a 100% welcome bonus, allowing traders to match their initial deposit up to $25,000. The platform supports multiple funding methods, including credit cards and cryptocurrencies, with a low minimum deposit of just $20. Traders can engage in High/Low options with payouts reaching 98%. However, the fee structure includes a $10 monthly inactivity fee and withdrawal limits. The user-friendly interface includes educational resources, and traders can benefit from tools like copy trading. While it caters to varying trading preferences, potential users should consider the lack of regulatory oversight and the resulting risks.
Frequently Asked Questions About Binarycent
What is Binarycent?
Binarycent is an online trading platform that specializes in binary options and forex trading, operated by Wave Makers LTD and established in 2017. It aims to provide users with a streamlined trading experience.
Is Binarycent regulated?
No, Binarycent is not regulated. It operates without oversight from recognized financial authorities.
What is the minimum deposit required?
The minimum deposit to start trading on Binarycent is $20. This makes it accessible for many new traders.
What types of accounts does Binarycent offer?
Binarycent offers three account tiers: Bronze, Silver, and Gold, each providing varying benefits and bonuses.
What is the maximum bonus available?
Binarycent offers a remarkable 100% welcome bonus on the first deposit, up to a certain limit.
What are the available trading instruments?
Traders can choose from 42 instruments, including various currencies and cryptocurrencies.
Can I use a demo account?
Yes, Binarycent provides a demo account that allows users to practice trading without financial risk.
What platforms can I use for trading?
Binarycent has its own proprietary trading platform, offering users a range of features tailored for binary options trading.
What fees should I be aware of?
Beware of the 5% transfer fee for card transactions and a $50 withdrawal minimum, along with inactivity charges.
How can I contact customer support?
Binarycent offers live chat, regional phone support, and a web form for inquiries, ensuring accessible customer service.