BinaryCent is a new binary options broker launched just a few months ago. The broker is owned and operated by Finance Group Corp, a company registered in Vanuatu.
Read on to discover BinaryCent’s unique features.
Account Features
The primary aspect that makes this broker stand out from the rest is its low minimum deposit, currently just $10, and minimum trade size, at just $0.10. Seeing as the industry standard is $250 for minimum deposit amounts and $1 for minimum trade size, we were quite impressed with these figures.
Moreover, when trading binary options with BinaryCent, trades are set in cents rather than dollars.
BinaryCent offers all traders a first deposit bonus which varies according to the deposit amount; the bonus ranges from 20% (deposit of $10) to 100% (deposit of $300+). However, all bonuses come with wagering requirements of x20, before any funds can be withdrawn.
Moreover, there are 3 account types to choose from each with different minimum deposit requirements and additional benefits to higher account types:
- Bronze Account – 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
BinaryCent also runs weekly contests which all traders are automatically signed up for. The top 4 winners can expect cash prizes of up to $2000 while other non-monetary prizes are also up for grabs.
Trading Software & Assets
BinaryCent uses a proprietary trading platform that comprises a pleasant layout against a dark background with bright colours used to emphasize the most important aspects of the charting area.
There are 3 option types available; Turbo, Intraday and Long Term options. Each of these differs according to the length of their expiry time.
Asset types are limited to currency pairs and commodities like gold and silver.
The BinaryCent platform is also available for trading from both Android and Apple devices so traders are not restricted to a desktop computer to fulfil their trading needs.
Support Information
The support options at BinaryCent are quite extensive. Apart from 24/7 multilingual phone support in 6 countries across the world, they also provide a live chat feature. This is especially useful as traders can get replies within minutes when an agent is online.
The site is available in 8 languages; English, Russian, Spanish, German, French, Thai, Arabic and Portuguese.
Traders may also go old school and get in touch by submitting a form on the Contact page which the broker will eventually reply to.
There is also an FAQ section available, though we were disappointed to find it to be rather limited.
Banking & Company Information
BinaryCent offers a vast array of payment methods for traders to fund their accounts; the broker accepts all major credit/debit cards (Visa, MasterCard, Maestro), bank wire transfer, as well as numerous e-wallets such as Qiwi, Skrill, Neteller, WebMoney, PerfectMoney, amongst others. It is also one of the few binary brokers we’ve come across, to offer Bitcoin as a funding option.
Deposits are instant. The minimum withdrawal size is $50 and the broker guarantees withdrawals within 1 hour to all traders, regardless of account type, with the exception of certain payment methods (American Express, UnionPay, JCB) which could take up to 6 hours. The broker is licensed in Vanuatu; this raises some red flags as this offshore jurisdiction is known for its lax regulatory policies.