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Binaryсent – Broker Review and Trader Feedback 2023

4.2 / 5

Binaryсent is a broker for binary options trading. Binaryсent offers forex trading and CFDs (Contract for Differences) in addition to binary options – they are all available on Binaryсent platform.

General Information

Binaryсent, full name Binaryсent Trading Platform, is a broker managed by Cent Projecete LTD (with headquarters at 309&310 Office, Albert Street Victoria, Mahe, Seychelles), a subsidiary of the known Finance Group Corp. Binaryсent was established in 2016 by a group of investors with years of trading experience, based in The Republic of Vanuatu, and is regulated by the Vanuatu Financial Services Commission. Binaryсent is registered to Suomen Kerran LP, with the license number SL25219, located in Edinburgh Scotland.

The company can be reached via the official website, or the phone contact provided. The website is available in multiple languages including English, Chinese, and Russian, and there are stated restrictions to some countries.

Advantages and Disadvantages

Fast executions: According to Binaryсent, orders placed by clients are executed quickly at great speed. Thanks to the modern technology of fiber optics, clients can trade with the assurance that they can take advantage of the market in real-time.

Low minimum deposit and trade amounts: With the lowest deposit pegged at $250, and the lowest trade amount set at just 10 Cents, Binaryсent ensures that traders have a flexible option when it comes to investing. Goodbye to risking heavy amounts; traders can start small and learn alongside.

Trading bonus: Binaryсent offers traders deposit bonuses ranging from 20% to 100%. All deposits below $1000 attract 20% bonus, and from below $2999, 50% bonus. Deposits from $3000 get a 100% bonus. This is done to attract and encourage traders to invest more, as well as to help them get more capital to trade with.

Regulation: Binaryсent, as a subsidiary of Finance Group Corp, is regulated by the Vanuatu Financial Services Commission (VFSC). This assurance backs the safety and security of investors and their funds. The brokerage is straightforward and safe.

A growing number of tradable assets: Binaryсent offers traders a growing list of assets they can trade. Stocks, metals, oil, gold, commodities, forex pairs, CFDs, indexes, and cryptocurrencies are all available to traders. Currently, the website lists over 100 assets available

Great customer support: Binaryсent offers traders top-class customer support. There are agents available through phone numbers in many languages. Tickets are attended to within the shortest possible time, and there is 24/7 video chat support.

Weekend trading facility: Binaryсent allows traders to take advantage of the market even during weekends.

Minimum spread: A minimum spread of 1.0. pip allows traders to open a lot of deals with minimal risk involved.

No free demo account: Unfortunately, Binaryсent does not offer the option of a free demo account to traders. Traders have to fund their account and then request for a demo account before they can have one. This is unusual, as most brokers usually offer a free demo account.

Turnover fee: Binaryсent charges a 1x turnover fee even if the trader does not accept a bonus. This can be worked around though, by paying a 20% withdrawal fee.

Trading Conditions

Trading conditions cover things like minimum trade position size, maximum size, minimum account size, what the payouts are, etc. Binaryсent allows traders to open trades with a minimum of 10 Cents, and there is no maximum trade size. The broker pays out up to 95% on successful trades. Binaryсent offers basically only one type of trade, with three subtypes listed. The Turbo, Intraday, and Long term. Though these are all High/Low trades with different run times, the lowest being 60 seconds.

Underlying Assets

As listed on their website, Binaryсent offers a wide range of assets for trading. The major tradable assets are forex, CFD, cryptocurrencies, binary options, market indices, stock, commodities, etc. It has 27 trading instruments and offers maximum leverage of 1:1000 for spot forex and CFDs.

Trading Platform

Binaryсent has adopted a proprietary trading platform. The broker offers a free web-based trading platform developed exclusively for the broker. It is easy to navigate, and with a great user interface. A quick check shows that the platform has advanced features for users. The trading screen has different links leading to trading tools such as charts, which take a big part of the site, and others such as economic announcements, and technical analysis.

Mobile Trading

The Binaryсent mobile trading platform allows users who do not want the web-based platform to trade the market on-the-go. The mobile platform is available on both smartphones and tablets; users can download from the Google Play Store or the Apple App Store. It is free, simple to navigate, and has the full features of the web-based platform. The mobile platform also has a history tab for showing trade and transaction history. It is secure, and users have to verify their mobile number before they can have access to trading accounts on the mobile platform.

Demo Account

As mentioned earlier, the demo account is not available to everyone. It is free, but in order to open one, the user must deposit a minimum of $250 into the trading account. Only then can an application for a demo account be submitted, and login details received via email. The demo account has the full features of the live account and is important for getting familiar with the broker conditions and the general environment of the platform.

Account Types

There are three types of accounts available on the Binaryсent broker platform. They are:

The Bronze Account – The minimum deposit is $250, and the trader bonus is 20%. With this account, traders can access free demo accounts, live video chats, the copy trading tool, and also make withdrawals in one hour.

The Silver Account – This account allows a minimum deposit of $1000, and offers a 50% bonus. However, traders must make a minimum of 40 trades before making their first withdrawal. They also have access to an online master class session, live chat with agents, an account manager, as well as three risk-free trades.

The Gold Account – the gold account comes with a minimum deposit of $3000, and a deposit bonus of 100%. Again, traders have to place at least 40 trades before they can withdraw funds. Gold account traders have access to all benefits, tools, and support.

Every trading account is eligible to enter for all of the trading contests. There are prizes to be won, including phones, bonuses, and $1000 in cash to twenty people weekly.

Opening an Account

The ā€œopen an accountā€ button can be found on the drop-down menu by the top-right corner, and also at the bottom of the websiteā€™s homepage. On clicking the button, another page opens and a personal details form is brought out for the user to fill. There is a drop-down menu with preferred currency. The user also has to agree to the terms and risk statement, and also confirm that the service is offered outside the USA territory. The user is taken to another page for further processing. Once completed, log in details are sent by email, and the user can access the account. For the compulsory account verification, the user can upload a pdf, or image file of either an international passport or a personal or government-issued I.D.

Funds Withdrawal

Deposits and withdrawals are accepted in fiat currencies and cryptocurrencies. Traders can deposit using credit cards such as MasterCard and Visa. They can also use eWallets such as Neteller, Skrill, WebMoney, etc, or cryptocurrencies wallets that accept Bitcoin, Dash, Litecoin, Etherium, and most other altcoins. There is no fee for these methods. However, users who wish to deposit via international wire transfer are charged a $50 transaction fee.

Withdrawals are made using the same methods, and there is no withdrawal fee apart from a 5% charge on credit card withdrawals. The minimum withdrawal amount is $50.

Trader Training

Binaryсent offers education and training support to users. All the account types have access to live master class sessions, as well as live support. The silver and gold accounts also have account managers to help traders more. There are basic training videos as well as a well-written FAQ.

Should I Trade with Binaryсent?

The answer is yes! Binaryсent is a regulated broker that follows every trading rule and offers an easy account opening procedure. The web and mobile trading platforms are easy and direct, so traders will experience no difficulty in placing trades. Trading tools and market analyses are available, as well as technical support and education. Traders with any level of trading experience can copy the trades of other traders using the copy trading feature, and there is no lag or delay in placing trades. The market spread and low fees and commissions are just perfect.

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