BinaryCent-Overview of Minimum Deposit, Spreads & Leverage

Aspect	Information
Registered Country/Area	Marshall Islands
Founded Year	2-5 years
Company Name	BinaryCent
Regulation	No Regulation
Minimum Deposit	$250
Maximum Leverage	1:500 (Forex), 1:100 (CFDs)
Spreads	Not specified
Trading Platforms	Web-based platform
Tradable Assets	Cryptocurrencies, Market indices, Binary options, Commodities, Options, Stocks, Forex
Account Types	Bronze, Silver, Gold
Demo Account	Available
Islamic Account	Not specified
Customer Support	24/7 support through live chat, email, and phone
Payment Methods	Cryptocurrency wallets, eWallets, major credit cards, debit cards, POLi, wire transfer, Perfect Money

General Information

BinaryCent is an online financial trading platform that was recently established in 2017. The trading platform is managed by a management company known as Cent Project Ltd, a subsidiary of the Finance Group Corp that is based in Vanuatu. Their head office is located at 2nd Floor, Transpacific Haus, Lini Highway, Vanuatu.

However, it's important to note that BinaryCent is not regulated by any recognized financial regulatory authority, which carries inherent risks. The platform supports multiple payment methods for deposits and withdrawals, including cryptocurrencies, eWallets, major credit cards, and wire transfers. Traders can access 24/7 customer support through live chat, email, web contact form, or phone.

BinaryCent's account types offer various advantages. The Bronze account provides 24/7 live video chat support, fast withdrawals, a +20% deposit bonus, a demo account, and copy trading. The Silver account includes all the features of the Bronze account, with additional benefits such as a +50% deposit bonus, a Master class web session, and the first 3 risk-free trades. The Gold account encompasses all the features of the Bronze and Silver accounts, along with a +100% deposit bonus, a Personal Success Manager, and the first 3 risk-free trades.

While BinaryCent offers a range of trading instruments, it's important to note that the platform is not regulated. Traders should carefully consider the risks associated with trading on an unregulated platform. The specific details regarding spreads and commissions on BinaryCent are not readily available, making it challenging for traders to assess the cost implications of their trades. The platform supports various payment methods for deposits and withdrawals, ensuring fast and secure transactions.

BinaryCent offers bonuses and promotions, including deposit bonuses, trading contests, and online promo codes, which can provide additional trading funds and incentives. The platform's customer support is available 24/7 and can be reached through live chat, email, web contact form, or phone. Traders should take note of the trading hours for different instruments and sessions.

Pros and Cons

BinaryCent offers a variety of advantages as well as some drawbacks. On the positive side, BinaryCent provides a wide range of tradable assets, giving traders the opportunity to diversify their investments. They also offer multiple account types, allowing users to choose the one that suits their needs best. BinaryCent's trading platform is user-friendly and accessible, making it easier for both beginners and experienced traders to navigate. Moreover, BinaryCent offers a demo account for users to practice trading without risking real money, which is a valuable feature for those who want to gain experience. On the downside, BinaryCent has limited educational resources, which may be a drawback for traders seeking in-depth knowledge and guidance. Additionally, the broker has limited payment options for deposits and withdrawals, potentially causing inconvenience for some users. Traders should consider these pros and cons before deciding to trade with BinaryCent.

Pros	Cons
Offers various account types and trading instruments	Not regulated by any recognized financial regulatory authority
Provides 24/7 live video chat support	Lack of transparency regarding spreads and commissions
24/7 customer support via live chat, email, and phone	Limited information on trading hours
Offers demo accounts for practice	Limited information on spreads and commissions
Copy Trading tool to replicate trades of successful traders	Limited information on trading platform and features
Access to educational resources	Lack of information on Islamic accounts
Multiple payment methods available	Lack of clarity on minimum and maximum deposits
Bonuses and promotions available	Lack of transparency on leverage and spreads

Is Binarycent Legit？

Based on the information provided, BinaryCent is not regulated by any recognized financial regulatory authority. This means that the platform does not have oversight from a regulatory body to ensure compliance with financial regulations and protect the interests of traders. It is important to note that trading with an unregulated platform carries inherent risks, including the potential for fraudulent activities or unfair trading practices. Traders should exercise caution and carefully consider the risks involved before engaging with unregulated platforms.

Market Instruments

BinaryCent offers its traders classes of assets including: Commodities，Cryptocurrencies， Forex currencies Market Indices，Stocks.

1. Cryptocurrencies: Traders can participate in the trading of popular cryptocurrencies like Bitcoin, Ethereum, Dash, Litecoin, and other altcoins. This allows traders to speculate on the price movements of these digital assets.

2. Market Indices: BinaryCent provides access to various market indices, allowing traders to trade on the performance of stock market indices from around the world. Examples of market indices include the S&P 500, Dow Jones Industrial Average, FTSE 100, and more.

3. Binary Options: BinaryCent offers binary options trading, which involves predicting the price movement of an underlying asset within a specified timeframe. Traders can choose from a wide range of binary options and trade based on their market predictions.

4. Commodities: Traders have the opportunity to trade in various commodities such as gold, silver, oil, natural gas, and other valuable resources. Commodities trading enables traders to speculate on the price fluctuations of these physical goods.

5. Options: BinaryCent provides options trading, which allows traders to purchase options contracts that give them the right, but not the obligation, to buy or sell an asset at a predetermined price within a specified timeframe.

6. Stocks: BinaryCent allows traders to trade on the performance of individual stocks from major global exchanges. Traders can invest in stocks of companies across different sectors and regions.

7. Forex: BinaryCent offers forex trading, enabling traders to participate in the foreign exchange market. Traders can trade on major currency pairs, including popular pairs like EUR/USD, GBP/USD, USD/JPY, and more. The minimum trade size for forex trading is ¢0.01, providing flexibility for traders with different investment sizes.

In addition to the above instruments, BinaryCent has recently expanded its suite of OTC (Over-the-Counter) assets, offering higher payouts of up to 95%. This includes popular forex pairs like EUR/USD, allowing traders to engage in speculative trading with smaller trade sizes.

Pros	Cons
Diverse range of market instruments available	Limited educational resources and research tools
Opportunity to trade popular cryptocurrencies	Lack of advanced trading features and customization options
Access to various market indices	Limited availability of OTC assets
Wide range of binary options to choose from	Relatively high minimum deposit requirement
Opportunity to trade in commodities and options	Limited availability of advanced order types
Ability to trade individual stocks from major exchanges	Limited customer support hours
Forex trading with flexibility in trade sizes	Limited availability of advanced charting tools

Account Types

BinaryCent has provided their clients with a choice of 3 different types of trading accounts. They comprises of the Bronze account (Minimum deposit of $250), the Silver account (Minimum deposit of $1000) and the Gold account (Minimum deposit of $3000).

BinaryCent offers three different types of trading accounts: Bronze, Silver, and Gold. Each account type has its own set of features and benefits.

BRONZE The Bronze account provides traders with 24/7 live video chat support, allowing them to receive immediate assistance whenever needed. Withdrawals are processed within 1 hour, ensuring quick access to funds. Traders also receive a bonus of +20% on their deposits, giving them extra trading capital. The Bronze account includes a demo account, allowing traders to practice and test their strategies without risking real money. Additionally, a Copy Trading tool is available, enabling traders to automatically replicate the trades of successful traders.

SILVER The Silver account offers all the features of the Bronze account, with some additional benefits. Traders still have access to 24/7 live video chat support and fast withdrawals within 1 hour. The bonus on deposits is increased to +50%, providing traders with a larger bonus amount. Like the Bronze account, a demo account and Copy Trading tool are included. In addition, Silver account holders gain access to a Master class in the form of a web session, where they can enhance their trading skills and knowledge. Traders also receive the advantage of the first 3 risk-free trades, which means that if these trades result in losses, they will be compensated with a trading bonus.

GOLD The Gold account is the highest-tier account offered by BinaryCent. It encompasses all the features of the Bronze and Silver accounts, with further enhancements. Traders enjoy 24/7 live video chat support and speedy withdrawals within 1 hour. The bonus on deposits is increased to +100%, providing traders with a significant boost to their trading capital. A demo account and Copy Trading tool are also available. Gold account holders have access to the Master class web session to further refine their trading skills. Similarly, the first 3 risk-free trades are included. Additionally, Gold account holders are assigned a Personal Success Manager who can provide personalized support and guidance to help them achieve their trading goals.

Pros	Cons
24/7 live video chat support	Limited bonus amounts on deposits for Bronze and Silver accounts
Fast withdrawals within 1 hour	Limited access to advanced features for Bronze and Silver accounts
Demo account for practice and testing	Higher-tier accounts require larger deposits
Copy Trading tool available	Potential dependency on successful traders for Copy Trading
Master class web session for enhanced trading skills (Silver and Gold accounts)

How to Open an Account？

To open an account with BinaryCent, you can follow these steps:

1. Pass Free Registration: Visit the BinaryCent website and click on the registration or sign-up button. Fill in the required information, such as your email (login), password, name, surname, and phone number. You may also have the option to enter a promo code if you have one. Make sure to read and agree to the Terms and Risk statement.

2. Activate Your Account: Once you have completed the registration process, you will need to activate your account. To do this, you will be required to fund your account with an initial deposit. The minimum deposit required to start trading on BinaryCent is $500. You can choose to deposit more if desired.

3. Start Following: After funding your account, you can start exploring the platform and choose one or more successful users to follow. BinaryCent offers a Copy Trading tool that allows you to copy the trades of experienced and successful traders. By following their trades, you can potentially replicate their results.

Leverage

BinaryCent offers different leverage ratios depending on the type of trading instrument. For forex trading and trading contracts for difference (CFDs), the maximum leverage ratio provided by BinaryCent is 1:500. This means that traders can potentially control positions that are up to 500 times the amount of their invested capital. It's important to note that leverage allows traders to magnify potential profits, but it also amplifies potential losses.

However, for CFDs trading specifically, the maximum leverage provided by BinaryCent is 1:100. This is a lower leverage ratio compared to forex trading. The lower leverage for CFDs is likely due to the inherent risks associated with trading these complex financial instruments. CFD trading involves speculation on the price movements of underlying assets without actually owning the assets themselves. Given the risks involved, BinaryCent advises inexperienced traders to avoid using excessively high leverage levels.

Spreads & Commissions

BinaryCent's approach to spreads and commissions is not explicitly disclosed or transparent on their platform. While they provide a range of financial instruments for trading, including binary options and CFDs, the specific details regarding spreads and commissions are not readily available.

For binary options traders, there is an initial stake involved when purchasing a contract. This stake represents the amount risked on the trade. On the other hand, CFD investors typically encounter floating spreads, which can vary based on market conditions and the volatility of the assets being traded. It's important to note that wider spreads may be observed for more volatile assets.

Additionally, there is a mention of the possibility of commissions, particularly for volatile assets. This means that certain trades or specific assets may be subject to additional charges beyond the spreads. However, the exact details and rates of these commissions are not specified.

Overall, while BinaryCent offers a variety of trading instruments, the lack of clear information regarding spreads and commissions may make it challenging for traders to fully assess the cost implications of their trades. Traders are advised to contact BinaryCent's customer support or refer to their official website for more accurate and up-to-date information on spreads, commissions, and fees associated with trading on the platform.

Trading Platform Available

BinaryCent utilizes a proprietary trading platform that is accessed through a web browser. This web-based platform offers traders an accessible way to engage in financial trading without the need to download or install any software.

The web-based platform of BinaryCent is designed to be user-friendly. Traders can access the platform using any up-to-date browser.The platform comes equipped with a range of tools and features to support trading activities. It includes charts and technical indicators, allowing traders to perform technical analysis and make informed trading decisions.

Recent updates to the platform have introduced new features and improvements. Traders now have additional scaling options and a new design for technical analysis. The platform also offers expanded time options for over-the-counter (OTC) assets, such as 5, 15, and 30 seconds. Furthermore, the CFD trading page has been reconfigured to provide clear visibility of functions like Take Profit, Stop Loss, and IF (Immediate Fill) orders.

Deposit & Withdrawal

Minimum and Maximum Deposit

The minimum deposit required to open an account with BinaryCent is $250 (or its equivalent in other currencies such as euros). This minimum deposit amount allows traders to start participating in the financial markets and access the trading platform.

On the other hand, BinaryCent sets a maximum deposit limit of $50,000 (or its equivalent in euros). This maximum deposit amount provides flexibility for traders who wish to invest larger sums of money in their trading accounts.

BinaryCent offers a range of funding and withdrawal methods to ensure fast and reliable transfers for their traders. They prioritize the security of funds with SSL certified 256-bit Secure Processing and keep funds in European banks for added safety. They also support 3D Secure, enabling additional authentication for secure transactions with Verified by Visa and MasterCard Secure Code.

For funding your BinaryCent trading account, they accept various methods, including major credit cards like Visa and MasterCard, cryptocurrency wallets for Bitcoin, Ethereum, Dash, Litecoin, and other altcoins, as well as eWallets such as Skrill, WebMoney, and Neteller. It's important to note that BinaryCent does not charge a transfer fee for deposits. However, there may be third-party fees that apply.

The funding time for deposits is instant, allowing you to start trading right away. BinaryCent strives to process withdrawals within 1 hour to ensure fast access to your funds. When it comes to withdrawal methods, they offer the same options as the funding methods mentioned above. However, it's worth mentioning that there is a 5% transfer fee for credit card withdrawals. Other withdrawal methods do not incur any fees.

BinaryCent aims to provide prompt and hassle-free withdrawals, with a withdrawal time of up to 1 hour. It's important to note that during weekends and public holidays, funding and withdrawal times may be delayed.

Pros	Cons
Instant funding time	5% transfer fee for credit card withdrawals
Multiple funding methods	Possible third-party fees for deposits
SSL certified secure processing	Delayed processing during weekends/holidays
Funds kept in European banks	Limited number of supported cryptocurrencies
Support for 3D Secure	Restricted access for certain countries
Fast withdrawal processing	Withdrawal requests may require verification
No fees for most withdrawal methods

Customer Support

As for the support services at BinaryCent, it is provided on a 24/7 basis. Traders who need support can reach out to the support team through live chat, web contact form or by calling them directly on the telephone.

Bonuses & Promotions

BinaryCent offers a variety of bonuses and promotions to enhance the trading experience for its clients. These bonuses and promotions can provide additional trading funds and incentives. Here are some of the key bonuses and promotions offered by BinaryCent:

1. Deposit Bonuses: BinaryCent offers deposit bonuses ranging from 20% to 200%, depending on the type of trading account. These bonuses are added to the client's account balance and can be used for trading purposes. However, it's important to note that there are terms and conditions attached to these bonuses, including the requirement to fulfill a minimum trading volume before being able to withdraw the bonus funds.

2. Trading Contests: BinaryCent organizes regular trading contests with a prize pool of $20,000. Each week, 20 winners are selected from the participants based on their trading performance. Participating in these contests gives traders a chance to showcase their skills and compete for attractive prizes.

3. Online Promo Codes: BinaryCent occasionally offers online promo codes that can provide additional deposit bonuses. These promo codes can be found on the broker's website or through promotional campaigns. Traders can take advantage of these promo codes to enhance their trading capital.

Trading Hours

While there is limited information available about the specific trading hours of BinaryCent, it's important to note that cryptocurrency trading is typically available 24/7. This means that clients can trade cryptocurrencies on the platform at any time, including weekends and holidays, as the cryptocurrency markets operate continuously.

For forex trading, BinaryCent operates during several major trading sessions, which are based on Eastern Standard Time (EST). These sessions include:

1. Tokyo Session: This session typically runs from 7 pm to 4 am EST. It covers the trading activity in the Asian markets, including currencies like the Japanese Yen.

2. Sydney Session: The Sydney session usually takes place from 5 pm to 2 am EST. It involves trading activities in the Australian market.

3. London Session: The London session is active from 3 am to 12 pm EST. It is one of the most significant forex trading sessions, as it overlaps with the Tokyo and New York sessions, leading to increased liquidity and trading opportunities.

4. New York Session: The New York session operates from 8 am to 5 pm EST. It is considered one of the most active forex trading sessions, as it overlaps with both the London and Tokyo sessions, providing ample trading opportunities.

Customer Support

BinaryCent provides customer support services that are available 24/7, ensuring assistance is accessible at any time. Traders in need of support can reach out to the customer support team through various channels.

One option is the live chat feature, which allows traders to engage in real-time conversations with the support representatives directly on the BinaryCent website. This enables prompt responses and efficient problem-solving.

For those who prefer email communication, traders can contact the support team by sending an email to support@binarycent.com. This method allows for more detailed inquiries or requests and provides a written record of the conversation.

BinaryCent also offers a web contact form, which traders can fill out on the website to submit their questions or concerns. This form serves as a convenient way to reach out to the customer support team and receive assistance.

In addition to the digital communication options, traders can also contact BinaryCent by phone. The firm provides multi-lingual support to cater to the needs of its diverse clientele. Contact numbers are available for various regions, including:

- Thai: 02-21345671

- Chinese: 3-395-0396

- English: +1-8299476393

- Russian: +7-499-3806317

- Singapore: 965-65425142

- Australia: 61-8-5550-7288

These contact numbers allow traders to connect with the support team in their preferred language and receive assistance tailored to their specific needs.

Conclusion

In conclusion, BinaryCent is an online trading platform that offers various account types, leverage options, and a range of payment methods for traders. While it provides certain advantages such as 24/7 customer support, quick withdrawals, and a copy trading tool, there are significant disadvantages to consider. The platform lacks regulation from recognized financial authorities, which poses inherent risks for traders. Additionally, the lack of transparency regarding spreads and commissions, as well as limited information on trading hours, may hinder traders' ability to fully assess the cost implications of their trades. It is crucial for individuals to carefully evaluate these factors and exercise caution before engaging with BinaryCent or any unregulated trading platform.

FAQs

Q: Is BinaryCent regulated by a recognized financial regulatory authority？

A: Based on the information provided, BinaryCent is not regulated by any recognized financial regulatory authority. Trading with an unregulated platform carries inherent risks, and traders should exercise caution.

Q: What are the account types offered by BinaryCent？

A: BinaryCent offers three account types: Bronze, Silver, and Gold. Each account type has its own features and benefits, such as bonus percentages, access to live video chat support, and additional educational resources.

Q: How can I open an account with BinaryCent？

A: To open an account, visit the BinaryCent website and complete the registration process. You will need to provide necessary information and agree to the Terms and Risk statement. After registration, activate your account by funding it with an initial deposit.

Q: What leverage ratios does BinaryCent offer？

A: For forex trading and CFDs, BinaryCent offers a maximum leverage ratio of 1:500. However, for CFDs specifically, the maximum leverage is 1:100 to mitigate the risks associated with these complex instruments.

Q: Are the spreads and commissions transparent on BinaryCent？

A: BinaryCent's approach to spreads and commissions is not explicitly disclosed or transparent on their platform. Traders are advised to contact customer support or refer to the official website for accurate and up-to-date information.

Q: What payment methods does BinaryCent accept？

A: BinaryCent accepts various payment methods, including major credit cards, cryptocurrency wallets, eWallets like Skrill and Neteller, wire transfers, and Perfect Money. Availability may depend on the client's location and local regulations.

Q: What bonuses and promotions does BinaryCent offer？

A: BinaryCent offers deposit bonuses ranging from 20% to 200%, risk-free trades for Silver and Gold account holders, regular trading contests with a prize pool of $20,000, and occasional online promo codes for additional deposit bonuses.

Q: What are the trading hours on BinaryCent？

A: While specific trading hours are not readily available, cryptocurrency trading is typically available 24/7. For forex trading, BinaryCent operates during major trading sessions based on Eastern Standard Time (EST).

Q: How can I contact BinaryCent's customer support？

A: BinaryCent provides 24/7 customer support through live chat on their website, email (support@binarycent.com), a web contact form, and phone numbers for different regions. Multi-lingual support is available as well.