- 8 Money Management Techniques - January 4, 2021
- What Is the Best Possible Time to Trade - October 26, 2020
- How To Identify Seasonal Patterns in The Stock Market - September 16, 2020
BinaryCent is a brand new broker who has launched its services just a couple of months ago. The brokerage is owned and also operated by the Finance Group Corp, which is a business registered in the island nation of Vanuatu. In this review we take a further look into their offerings and evaluate their benefits.
The main feature of this broker and perhaps one of its stand out features is the very low minimum deposit which is capped at just $10. Plus, the minimum trade size is only $0.10 per lot. Now compared to the $250 industry standard for the minimum deposit and the $1 minimum trade lot size, this is undoubtedly impressive.
If anything we find these figures to be promising to any trader who wants to start out in the trading industry with spending very little. The other exciting aspect of BinaryCent is that the trades are set at just cents as opposed to dollars. So, reading and trading micro lots becomes easier.
Additionally, BinaryCent offers traders a bonus on their first deposit which will vary depending on the amount that’s deposited into the account. Though the bonus ranges from 20% (for the $10 deposit) to 100% (usually for deposits over $300). All bonuses do come with trading requirements attached of around 20x before a trader can withdraw those funds.
BinaryCent offers traders three types of accounts. Each category has a slightly different minimum deposit requirement yet provides various benefits depending on how much you deposit:
- The Bronze Account – Includes a 20% bonus and withdrawals in just 60 minutes.
- The Silver Account – A $100 minimum deposit, plus a 50% bonus, the account also includes a master class web session, and initially three risk-free trades.
- The Gold Account – A $300 minimum deposit, plus a 100% bonus, along with a professional personal manager in addition to a Swiss prepaid card for transactions.
Furthermore, the broker also holds weekly contests whereby all traders are signed up for it automatically. At the conclusion of the contest, the top 4 traders or winners, in this case, receive cash prizes amounting to around $2000. But there are also many non-monetary prizes also available.
The BinaryCent Trading Platform
BinaryCent prides itself on using their proprietary platform which uses a very easy to understand layout across a dark background. The interface boasts of bright colors which emphasize on important aspects of the chart.
Traders get to choose from three available options, i.e., Long Term, Turbo, and Intraday. Each one is different in the sense that they offer a different expiration time. The asset types have been limited to the currency pairs as well as commodities like silver and gold.
The BinaryCent platform can also be used for both Android and Apple devices. That means that traders aren’t restricted to a desktop computer to trade assets.
Customer support offered by BinaryCent
BinaryCent offers quite an extensive customer support experience. The company provides 24/7 multilingual support over the phone in six countries internationally. Plus, they have multilingual live chat support. Live chat is very useful as it enables traders to receive replies in mere minutes when an agent is chatting with them.
BinaryCent’s website is available in eight different languages: German, English, Thai, Russian, Portuguese, French, Spanish and Arabic. Traders can also get in touch with the company via the online contact form. We found that the broker replies to these too. Plus, there is a FAQs section which to our disappointment is limited at best.
Signing up for BinaryCent – the process
BinaryCent has made sure that newbie traders find it easier to signup for an account. The process is incredibly smooth. All traders have to do is choose an account, then if they want to accept the company’s welcome bonus after which they can fill out the form. We strongly advise that you read the conditions of the bonus before accepting it.
Once you have added your initial investment to the trading account, you can start trading right away.
Special Features offered by BinaryCent
BinaryCent provides traders with a load of useful features along with many benefits which are meant to enhance your profitability and trading experience:
- Risk-free Trading – The more expensive accounts offer what’s known as risk-free trading. Which means that traders can recover their losses especially those who are new to trading.
- A Demo Account – The company offers a demo account which is an indication that the broker wants to make it easy for traders to familiarize themselves with the platform. The end result is that they can make more money.
- 1-Cent Trades – Traders can easily trade with just a one cent investment for each trade. It is for this reason that traders are permitted to start with only $10.
- 24/7 Customer Support – The customer service team is always available and also offers multilingual support.
We consider BinaryCent to be one of the few brokers that can help traders enter the market or industry without having to invest or risk a significant amount of money. Being able to start with just $10 and then build a profitable portfolio from there is definitely a good deal.
Plus, the trading environment is very user-friendly and elegant making it secure for traders to use. We were pleased to see what was on offer from BinaryCent broker it is for this reason that its a broker that comes highly recommended.