Binarycent is one of the most recent online forex and CFD trading platforms to join the online trading industry in 2017. The brand is one of the many online trading platforms that is owned and managed by the Finance Group Corp operating out of Vanuatu. With its proprietary trading platform, Binarycent offers its clients online trading services for the 4 most popular financial markets namely forex, cryptocurrencies, stocks and indices. However what makes Binarycent stand out from all the other brokers in the industry is the fact they offer live video support as opposed to live chat only. In addition, Binarycent also guarantees that all withdrawal requests will be processed within an hour.
The trading platform that has been adopted by Binarycent is a proprietary platform that has been developed exclusively by the brokers owned and managed by the Finance Group Corp. A web based platform, the platform doesn’t require any software download or installation. The user interface has also been designed to accommodate beginner traders.
The navigational interface of the trading platform is user friendly and requires no training whatsoever to operate. The platform also comes with various trading tools which Binarycent’s traders can employ to further enhance their analysis of the financial markets. There is also a selection of technical indicators which you can overlay onto the price charts in order to get a clearer picture of the market conditions. However what is most interesting about the proprietary Binarycent trading platform is the fact that it supports copy trading. With copy trading, any beginner trader can now trade like a pro, without having to go through a slow and painful learning curve.
For traders who wish to access the financial markets while they are on the move, Binarycent has also provided them with a mobile trading app which they can download from Google Playstore and Apple App store. With this mobile app installed onto their smartphones, they can now manage their trading account, deposit or withdraw funds using just their smartphones. The mobile trading app also allows them to execute trades and monitor all the developments in the financial markets.
With Binarycent, you can partake in the currency market, the stock market, the commodities market and the cryptocurrency market. However, the asset basket which Binarycent is offering is rather limited when we compare its offering to what other brokers in the industry are able to offer. At present, there is only a limited selection of 26 forex pairs, 2 types of precious metals, 4 kinds of stocks and 5 types of cryptocurrencies. This is understandable as the broker is still new. Hopefully over time, more assets will be added to the asset index.
To trade in these markets, you can do so from the 3 types of trading accounts provided. They include the Bronze account, the Silver account and the Gold account.
- Designed for the beginner trader
- $250 minimum deposit requirement
- 20% bonus
- For experienced traders
- $1000 minimum deposit
- 50% bonus
- Master class trading provided
- Risk Free trades (x3)
- For professional traders
- $3000 minimum deposit
- 100% bonus
- Personal account manager
- Master class training provided
- Risk Free trades (x3)
The above mentioned accounts can be funded through bank wire transfers, credit cards, eWallets or with cryptocurrencies transfers such as Bitcoin, Bitcoin Cash, Ethereum or Monero.
You can also use the same methods mentioned to withdraw your money from your account at Binarycent. As for the service fee, only withdrawal through credit cards will incur a fee of 5%. As for withdrawals through eWallets or cryptocurrency wallets, it is free.
One of the most striking features of Binarycent services is the customer support service. Available on a 24 hours a day basis throughout the week, the support service is available through live video feed. Currently Binarycent is one of the handfuls of brokers that have elevated their customer interaction process to live video. In addition to the live video chat, you can also contact the support team through email, live chat or telephone. However without a doubt, the live video chat is the most popular method of communicating with support people at Binarycent.
Security and Fairness
Binarycent by itself is not regulated by any financial regulatory agency. However, its parent company, the Finance Group Corp, is regulated by the Vanuatu Financial Services Commission (VFSC). This mean Binarycent’s operation is under the umbrella of its parent company and hence is under the regulatory oversight of the VFSC. In other words, Binarycent is required to conduct its operations in accordance to the industry best practices.
- Bonuses available
- Copy trading supported
- High returns
- Intuitive Trading Platform
- Live Video Customer Support
- One hour withdrawal processing
- Limited Asset coverage
- Only one type of trading platform provided