Rating BinaryCent Rating: 4/5
Deposit
$250
Max Payout*
80%
Regulated
No

Why Choose BinaryCent?

  • Free Demo Account
  • 10 cent Minimum Trade
  • Accepts Bitcoin Deposits
Trade Now
General Risk Warning: Your capital might be at risk.
*Max Payout depends on a correct prediction.

Binarycent Review

BinaryCent is operated by Cent Projects Ltd, a subsidiary of Bernatrex Inter S.A, who have a registered office at 309 & 310 Albert Street, Victoria, Mahe, Seychelles. The company were launched by Finance Group Corporation (located in Vanuatu) at the start of 2017, but have already begun to make headway. They are considered an offshore company, obliged to adhere to the incorporation laws set out by their local jurisdiction only. However, this does make them globally accessible to many traders, including to those based in the US and Canada.

It’s a tentative time to start out in the Binary Options industry, but BinaryCent have found a niche in the market, in the shape of low cost investments – which is sure to appeal to many. Accounts can be opened from just $250, but then trades may be entered with a mere 10 cent minimum stake. Their overall approach to the binary options market can only be summarised as minimalistic. In fact the BinaryCent website is practically sparse of any FAQs or educational material at this point (October 2017), purely focusing on the company’s drive to tap the market with trades made in cents instead of dollars. Yet with binary education quick to resource elsewhere online, it won’t serve as off putting to anyone wanting to start out from the very basic of account balances. Further adding to their appeal, the broker runs an instantly accessible demo, maximum payouts of around 90% and withdrawals within 1 – 6 hours.

Its early days, but BinaryCent has caught our eye for all the right reasons. We present you with a balanced overview of the services below, in order to assist you in making the right choice to suit your brokerage needs.

Trading Platform & Features

Everything about Binarycent is devised to be simple and instantly satisfying. The company have created a platform that showcases everything they have to offer up front and without fuss. Once logged in, you’re immediately introduced to your asset list that consists mainly of currency pairs and commodities at this time. No stocks or Indices are offered at this time. You can also see the contract options and a single chart format. A running total of live bids runs as a banner across the top of your homepage for a sneaky peek into the investments of fellow Binarycent traders. At the bottom, you can view a summary of your own open and closed positions, for a running total of your investments and any payouts received.

The chart features three trading tool options for contract diversity. These include Hyper, Intraday and Long Term expiries. The Hyper option runs from 1 – 6 minutes and Long Term contracts have an expiration of up to 1 month. Unusually, payouts remain at 90% and minimum trade entries are a super low 10 cents across all of these options. Traders can choose to switch up to full dollars with a quick swipe to the $ sign in the top bar at any point.

Educational material is located within the platform itself. A tab bar above the asset list shows symbols for Charting Tools, Trade Pattern Ideas, Fundamental and Technical Analysis, and general news articles.

The Binarycent platform is suited to web view, with clients able to access their services from any desktop or mobile device. At present, Android and iOS apps are available in the relevant stores. These are simple to read and use, with the perfect options for the level of trader that this low cost broker may suit.

Note: Binarycent’s primary assets are major and minor currency pairs and cryptocurrencies at present. The company does offer four stocks and two commodities but no indices for you to trade with.

Account Options & Payouts

Binarycent has divided its most popular services into three tiered packages, with live trading accessible from just $10. Refreshingly, there isn’t an enormous difference in the baseline requirements between the introductory and elite packages; so traders have plenty of room to advance without feeling a major financial strain on their bank balance.

Live Account Options:

  • BRONZE ACCOUNT – with deposits starting from just $250 – $1,000, Binarycent manages to offer full access to its trading room, demo accounts, live chat support and 1 hour withdrawals (something you often see reserved for VIP clientele with other brokers). Beginners will have the opportunity to do well with the Bronze Account, with a bonus of up to 20%. Live video chats are offered, but we would suggest outsourcing your education if these are not extensive enough for you.
  • SILVER ACCOUNT – Deposits of $1,001 – $2,999. As a Silver Account holder you will be entitled to all the benefits included in the Bronze, with the addition of a Master Class (webinar training) and three risk free trades. With a 50% bonus for only a slightly larger initial deposit, it’s no surprise that this is Binarycent’s most popular account choice.
  • GOLD ACCOUNT – The Gold Account is as VIP as Binarycent gets. Deposits from $3,001 onwards will provide access to their complete list of services, including all of the above, 100% bonus and a personal success manager (an account manager and financial analyst rolled into one).

When registering with Binarycent you will have the option of running your account in either USD or EUR – choose wisely as this cannot be altered later. From this point onwards you will have access to the platform, but not the demo mode.

To start that virtual account experience, you will need to first deposit a minimum of $250 and make a request. Once active, you may familiarise yourself with the platform in this demo format until your paper funds run dry, then begin trading with your $10 real money balance.

The 10 cent trade entry is a unique factor, and can be used to alleviate risk whilst you continue to build confidence in live trading. In addition to this, payouts of up to a high 90% are achievable across all assets, regardless of contract expiry length – maximising and standardising your returns on even the safest investment options.

Banking Options

Under Account Funding, Binarycent has ensured that setting up a live account and depositing are synchronised for your ease. Drag the slider to your desired deposit amount according to your account package preference and the total deposit due will appear in your deposit options area listed below. The company have made certain to provide all popular banking methods / options for a seamless process. Their expansion into new banking currencies offers increased international flexibility by allowing USD, GBP, AUD, EUR, JPY, CAD, RUB as options.

Deposits

Deposits start from just $250 and may be paid using Visa / Mastercard, Skrill, Neteller, BitCoin or Wire Transfer. Most of these methods should provide instant funding into your account so that trading may start on the same day. Wire transfers require a minimum opening deposit of $5,000 and the crediting timeframe will depend on your bank, taking anywhere up to 5 working days to complete. This is considered the most secure method for moving large sums.

Withdrawals

There is an important stipulation that accompanies owning an account with BinaryCent. Deposits must be turned over before any funds will be released to you, and then again for all subsequent deposits. You can withdraw ahead of this but you will be charged 20% for the privilege. This means your trading volume must equal your deposit amount. Not an issue for most, and this helps meet some money laundering rules.

1 hour withdrawals are Binarycent’s primary selling point at this moment in time. All account holders, regardless of initial deposit amount, are granted 1 hour withdrawals, and requests up to the initial deposit amount will be returned to its original payment source. Any amount beyond this can be forwarded to additional banking providers, including OKPay, QIWI Wallet, WebMoney and Perfect Money. You must withdraw a minimum of $50 each time with these methods, and no fees are charged. A $50 fee is however charged to all withdrawals requested through bank transfers.

Education Resources & Support

The website does not include an Education Center. The FAQ’s page is a little sparse and so Silver and Gold Account holders will be the only clients able to access truly beneficial education via the “Masterclass” training sessions, mentioned within the account benefits listing. That being said, Binarycent’s primary concern is providing a platform within which traders can administer practical learning; gaining hands on experience through their demo, feature analysis and 10 cent minimum trade entries. From within the trade room, traders can also access several in-house features that link to fundamental news and technical analysis summaries / articles, along with trade pattern ideas for those who want to expand on their strategic knowledge.

Notably, support is offered in the format of a live video chat services, accessible from the pop-up box on the website. However, we believe the best form of communication fall to either email, or submitting a support request ticket through Binarycent’s Support Page. Through this process you can request priority, target a specific department with your query and even attach relevant screenshots (as JPG files) to highlight your issues. From this Support Page you can manage your active tickets, keeping track of any that are in progress.

TradersAsset Tip: Education should always be considered a top priority and in this case we feel that some novice traders may benefit from outsourced information. TradersAsset is a great resource for binary options education and can help point you in the right direction for alternative learning resources.

Why Trade at Binarycent?

Binarycent is an easy broker choice for beginners who want plenty of room to try out the market at reduced risk, or intermediary traders looking to jump straight in with lower risk. With live accounts from just $250, Binarycent will grant full access to their platform so you may trial the company’s real or demo accounts. 10 cent minimum trade entries are unheard of but are an innovative way of engaging traders, advancing their portfolio without great risk to their overall balance – encouraging great money management in the process. Payouts are in the high end of 90% across a variety of expiries, encouraging investments that are both strategic and long term, as well as gratuitously volatile and short.

We recommend Binarycent, rating them 4 out of 5 stars; leaving them some room for improvement, but we truly expect to see this as the company becomes better established.

Screenshots