BinaryCent is a top binary options broker operated by Cent Projects Ltd, which was founded in 2016. They offer a easy-to-use trading platform to trade FX/CFDs and binary options, with trades from just 10 cents trades, quick withdrawals and 100% bonus.
Last Updated on May 17, 2022
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Overview: What is BinaryCent?
Binarycent is the trademark for Wave Makers LTD, a Forex, CFD, and Options trading service provider, registered in the Marshall Islands with registration number 103581.
Binarycent is a leading provider of binary options and CFD/Forex trading from 10 cents and services that cater to the needs of investors from diverse backgrounds. Established in 2017, this financial company has already managed to carve a niche for itself through its consistent performance and dedicated customer services. This company has a very good reputation due to its non-stop trading facility, guaranteed and hassle-free withdrawals, and a wide range of accounts and bonuses.
An increasing number of binary options brokers are now offering a gamut of trading services and products to their clients across the globe. However, before choosing a binary options trading platform, traders must ensure that the broker providing the same is highly efficient and reliable. Here, we have reviewed this broker. Read on to find a comprehensive review of the broker and their trading services.
BinaryCent platform provides its clients with both web and mobile-based trading. As a result, traders can either operate through their preferred browser or download the mobile app in case they wish to trade anytime, anywhere. Its trading platform is highly secure and easy to use. In fact, their trading software is appropriate for newbie traders who possess little to no knowledge of binary options trading.
Signing up for an account on their website grants you access to the company’s web-based trading platform, which is excellent for advanced and newbie traders.
The development team for this broker designed the platform so that it is responsive to different mobile devices. So, you can trade while you’re away from your PC or MAC.
At first glance, the trading platform gives a generally easy appeal to traders. That is not the case, and we’ll uncover some rather technical features that are sort of hidden in the platform and how you can get to them.
So read on.
Their platform is set for traders to trade binary options by default.
However, you can choose to trade CFDs as well. To do that, you can select the CFD button that’s beside the Binary Option button on the top left corner above the main chart window and toggle the chart to trade the different financial products as CFDs.
You can easily switch back to trade Binary Options by clicking the binary options button beside it.
From the CFD chart view, you’ll notice a difference from the Binary options view as it now includes both the ask and bid price of the selected asset.
Another feature is the toggle button from the tick data view to the candlestick data view, which can be toggled by clicking on the “tick” button at the top right corner of the main chart window.
More advanced technical trades will find the candlestick view useful as it aligns with a somewhat familiar TradingView window, where you have access to different technical charting tools and indicators.
1. Market Order
This binary options broker allows traders to enter trades using an instant market order, meaning your buy or sell order will get filled at the current market bid or ask price.
To make trades with an instant market order, you have to make sure the drop-down order menu is set to Market as shown above.
Let’s take an example. Say you want to take a short sell order on the Gold (XAUUSD) with a bid price at $1839.62 and ask price at $1840.33. Well, you can click on the sell button and immediately get filled at the bid price. Conversely, you’ll get served at the asking price if you chose to buy the Gold, which is under commodities on its platform.
2. Pending (IF)
Pending orders on its trading desk are termed (IF) conditional orders, without separating them into pending limit orders and pending stop orders like on other trading platforms.
To use pending orders, you have to toggle the order drop-down menu from market order to IF order, as shown in the image above.
The location of your pending price level determines the type of order you’re given. Let’s explain that a bit.
If you think the market trend will go down in the long term but feel it will first move higher before continuing the long term descent, you can set your pending price level above the bid/ask price and hit the sell button.
A sell limit order will be set above the market order, which will go live if the market bid price moves to the specified level.
Out of the box, the Binary Cent trading platform is set for trading Options on different asset classes.
Want to get started? Then, choose an asset to trade and ensure you hit the Call or Put button before the purchase deadline (Yellow line).
Clicking the Call button implies you expect the asset price to close above the strike price before the expiration time (White Line), which may vary depending on the selected Option type.
Currently, there are three Option types offered by them. They include Turbo, Intraday, and Long term.
They also display a measure of Call and Put Options in percentage on their trading terminal, an additional feature you may want to consider when buying a call or put options. However, we do not notice any strong correlation using it.
The Options platform also allows you to view currently opened trades and closed trades as a way to measure your performance.
This forex broker offers user-friendly mobile to engage in safe and reliable online trading on the move. You can trade options and CFDs, fund your account, make withdrawals, see your trading history, … and much more features.
Assets to trade
When it comes to trading at this trading broker, traders have the option of investing more than a hundred assets in binary options and CFD/Forex within four different categories including Forex, Commodities, Crypto, and Stocks. Hence, depending upon their requirements and understanding of the financial markets, traders can either trade forex currency pairs or invest in Gold, Silver, and other commodities.
Whether you’re a CFD or Options trader, there’s a wide range of assets to choose from on its platform. These assets are classified into four, namely, stocks, cryptos, commodities, and currencies.
- Currencies (FX): They offer about 26 FX pairs for traders at the moment. They include:USD/CAD ,USD/CHF, AUD/CAD, USD/RUB,USD/JPY, USD/SEK, ,AUD/JPY,AUD/CHF,AUD/NZD, USD/CNH, AUD/USD,CAD/CHF, CHF/JPY, EUR/CAD, EUR/JPY,EUR/AUD, EUR/NZD,EUR/GBP,GBP/USD ,GBP/AUD, EUR/CHF, GBP/JPY, EUR/USD, GBP/CAD, GBP/CHF, NZ
- Commodities: This brokeCent show a good number of cryptocurrencies and altcoins to trade. They include: Bitcoin BTC, DSH/USD, EOS/USD, ETC/USD, ETHEREUM, IOT/USD, LTC/BTC, LITECOIN, OMG/USD, XMR/USD, XRP/USD, ZEC/USD
- Stocks: Lufthansa, Deutsche, Daimler, BWA.DE
Crypto Assets: Trade Bitcoin
The broker also offers stocks of some of the leading companies around the globe in addition to crypto-assets such as Bitcoin, Litecoin etc.
On its trading platform, you can trade Bitcoin Option or as CFD against the USD with leverage up to 100%.
Trading Bitcoin Option takes out the stress of worrying over setting stop-loss levels, risk to reward, and other risk management requirements for successful CFD trading.
Here, you wait for the asset’s expiration time after entering a Call or Put before the trade entry time. An example is buying a call option, and the Bitcoin price closed above your strike price, then you are in the money.
With CFD trading, however, you have to be mindful of your risk parameters. The advantage here is the potential of making a higher return on investment in terms of a higher reward to risk ratio, say 2X.
The power of leverage and compounding can also boost your earnings when used wisely.
This financial firm offers one of the best payouts in the binary options industry. When you trade with them, you get varying payouts ranging from 60% to 90% on different assets. Check them out below:
- Forex:USD/CAD (75%), USD/CNH (75%), USD/CHF(60%), USD/RUB (60%),USD/JPY (60%), USD/SEK (60%), AUD/CAD (75%), AUD/JPY (60%), AUD/CHF (60%), AUD/NZD (60%),AUD/USD (60%),CAD/CHF (60%), CHF/JPY (64%), EUR/CHF (60%), EUR/CAD (75%), EUR/JPY (75%),EUR/AUD EUR/AUD (80%), EUR/USD (62%), EUR/NZD (75%), EUR/GBP (65%), GBP/USD (63%) ,GBP/AUD (60%), GBP/JPY (60%), GBP/CAD (75%), GBP/CHF (60%), NZD/USD (75%).
- Commodities:Gold (60%) and Silver (75%)
- Cryptocurrencies:Bitcoin BTC (60%), DSH/USD(70%), EOS/USD(70%), ETC/USD (70%), ETHEREUM(70%), IOT/USD(70%), LTC/BTC(60%), LITECOIN(70%), OMG/USD(70%), XMR/USD(70%), XRP/USD(61%), ZEC/USD(70%), SAN/USD (70%)
Promotions & Bonuses
The promotions start from a deposit bonus from 20% to 100% and a range of Apple products that’ll enable you to trade anywhere.
With BinaryCent, traders can expect handsome rewards. As a result, the bonus depends on the initial deposit amount and could go as high as 100%. Hence, traders who deposit an initial amount of 500$ can expect a bonus in the range of 20%, whereas the bonus may go up to 50% for the initial deposit of 500$. Investors who create a Gold account with the broker can earn up to a 100% bonus. However, it largely depends on the conditions available for trading.
Promo Code: BNRCNT10
If you sign up for an account and make a deposit for any of the account types on their website, you stand a chance of winning amazing prizes in their current promotions.
The promotions are a range of Apple products that’ll enable you to trade anywhere.
Its product giveaways include:
- You get the iMac 27″ when you make a deposit amount of $5000 and above.
- Next is the iPad Pro, for a required deposit of $2500 -$4999.
- Upon depositing $1000 -$2499, you stand a chance of winning the iPhone 12 Pro 256 GB.
- Lastly, series 6 Apple can be won when you deposit $500 -$999.
Here are some of the conditions to benefit from the Giveaway:
1st Upon funding your account, activate a Giveaway promo offer in the section that reads “My Promotion.”
2nd Ensure that your deposit is concluded from 1.12.2020 00:00 GMT to 31.12.2020 23:59 GMT.
3rd Wait for price draws on 05.01.2021 10:00 GMT. Piece of cake, right.
Type of Accounts & Minimum deposit
You can start trading with any of the three classes of accounts provided by them. They are the Bronze, Silver, and Gold accounts.
To check your bonus on any of the account types, you can visit the site and go to the account type section. By clicking on the check box, you activate the promotion, followed by dragging the deposit slider left to right to view the promotion’s effect on the different account types.
- Bronze Account
On a Binary Cent bronze account, you get a 20% bonus for a deposit from $250 to %999.
A deposit of $700 would translate to $840 when you add the deposit bonus.
Other features that accompany your Bronze deposit include 24/7 live video chat support, Withdrawals in 1 hour, Bonus +20%, Demo account, and a Copy Trading tool.
- Silver Account
When you move up to the Silver account level, with a deposit from $1000 to $2999, you unlock a bonus of 50%.
That’s not all. You also get 24/7 live video chat support,
fast withdrawals in 1 hour, a Bonus of +50%, a Demo account, a Copy Trading tool, a Master class (web session), First three risk-free trades.
- Gold Account
Finally, move up to a Gold account where you enjoy a mind-blowing 100% bonus on deposits from $3000 to $25000.
Other benefits include 24/7 live video chat support, Withdrawals in 1 hour, Demo account, Copy Trading tool, Master class (web session), First three risk-free trades, Personal success manager.
To get a demo account and try out your trading strategies, they require a deposit from one account type. Perhaps they believe you’ll take your trading journey seriously when you have skin in the game.
From the look of things, they are only interested in working with committed traders; hence you may want to consider the minimum deposit of $250.
Deposit & Withdrawal
Funding and withdrawal methods on Binary Cent broker are done via the same payment service providers.
They currently accept deposits and withdrawals using VISA, MASTERCARD, Bitcoin BTC, Ethereum ETH, Perfect Money, and Altcoins (Litecoin, Dash).
All deposits with Mastercard and Visa attract a 5% deposit fee and are available in all regions except the US. Withdrawal time should last up to an hour, while the deposit is made instantly into your trading account.
Deposits and withdrawals via Perfect Money take up to an hour with zero transaction fees.
Make instant cryptocurrency deposits, which are also borderless at zero transaction fees, but only a maximum of an hour wait time on withdrawals.
They provide multiple support channels in six different countries where you can make a direct phone call.
Below are the customer support phone numbers:
English (+1-8299476393), Russian (+7-499-3806317), Chinese (3-395-0396), Thai (02-21345671), Singapore (965-65425142), Australia (61-8-5550-7288)
Binarycent also has a social media presence on Instagram and Twitter. You can follow @binarycent_com on Instagram and @binarycent on Twitter for more information and direct messaging.
Regulation in the United States
They are an international broker not regulated within the United States with CFTC *
BinaryCent Review: Summary
If you’re looking for an offshore broker that supports funding and withdrawals in cryptocurrencies, among other benefits highlighted in this review, then you might want to consider signing up for a trading account with them.
The ease of use on the trading platform is great for beginners and experts; however, you may want to consider making the minimum deposits required to qualify for a demo account and proof of seriousness on your part.
To sum up, Binary Cent is a highly efficient and trusted binary options and forex/CFD broker that allows traders to trade with amounts as low as 10 cents. With their feature-rich trading platform, innovative and prompt customer support team, and attractive account types and bonuses, trading binary options are not only simple but also highly profitable.
User Ratings on BinaryCent
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BinaryCent is a pretty friendly simple platform. Good customer support via live chat. Excellent option if you like Bitcoin as a deposit and withdrawal method.
Even though I was not very pleased trading online didn't wanna miss out on this binary offer, Great service and many thanks for the information, I have gone and traded.
Despite the fact that BinaryCent is not regulated within UK or EU at all, no important issues so far. Quick withdrawals.
Outstanding platform for Crypto and bitcoin trading. Great bonus.
I'm newbie in binary options trading, and I feel confortable with BinaryCent with their 10 cents trades.