BINARYCENT REVIEW: IS IT WORTH IT?

WHAT IS BINARYCENT?

First, let’s start with an introduction to this broker. BInarycent has been around for quite some time now. So, we can say it’s not a new kid on the block. Let’s find out a bit more!

Binarycent is another platform focusing on binary options, forex, and CFDs (Contract for Differences). It is also regulated by the Ajeltake Island, Majuro, Marshall Islands MH96960 with the Wave Makers LTD. It was founded in 2015 and is an excellent platform for beginners.

The cool part is that it won the Best Broker award in the same year, according to the Fair Binary Options. The best part is that Binarycent allows users from all over the world except the USA.

Binarycent homepage

There are also users from Spain, Portugal, South Africa, Greece, Ghana, and Nigeria. Talk about diversity; am I right?

HOW DOES BINARYCENT WORK?

Binarycent is convenient, with a straightforward interface. You do not need to install the application on your computer. But how does the broker work? Let’s go through this in detail: The broker is accessible from the Web. Binarycent offers a variety of assets. We will go through each of these one by one.

Forex

• EUR/USD
• EUR/CAD
• USD/JPY
• AUD/CAD
• EUR/JPY and more.

Stocks

• Apple
• Alibaba
• Tesla
• Citigroup
• Microsoft
• McDonald’s
• AIG
• PayPal
• IBM
• Coca-Cola
• Twitter and others.

Commodities

• Gold
• Silver
• Crude Oil

Cryptos

• Bitcoin
• Ethereum
• Bitcoin Cash
• Dash
• Litecoin and others.

Besides these, market indices and binary options are also included.

HOW DOES THE BINARYCENT PLATFORM WORK?

Binarycent offers trading through its native platform. It has a convenient and simple platform. You can use the Web on your PC, mobile, or tablet to open the application. Let’s talk a bit more about the trading platform:

The platform includes a large screen with a chart illustrating the ongoing market trades. You can view candlestick patterns or a tick/line pattern, depending on your preference. The platform enables intraday trades and long-term trades.

Binarycent trading platform

Intraday trading has an expiration time between one and twenty-four hours. Conversely, long-term trading can expire anywhere from one day to thirty days. You should note that all three accounts have their demo versions so the user can taste what is to come. Isn’t that great?

It is available on both iOS and Android. Even the mobile version has all the functions and components of the web-based version, giving you the same professional trading experience on your mobile. The flexibility given to users when choosing their preferred medium for trading is truly commendable!

WHAT TRADING INDICATORS ARE AVAILABLE?

Binarycent has several different technical indicators which help users track their trades and movements in the market to their advantage. The technical indicators that are available on Binarycent are:

• Bollinger Bands
• Alligator RSI
• Moving average convergence divergence (MACD)
• Moving Averages (MA)
• Stochastic Oscillator
• Relative Strength Index (RSI)
• Ichimoku Cloud and more.

WHAT ARE BINARYCENT’S TRADING ACCOUNTS?

Like every other platform, Binarycent also offers different trading accounts. There are three in total. But they have some conditions that may suit you. Let’s keep digging and examine them in detail.

Every account has unique features that help you ace your trading as long as you understand the benefits they offer. So, these three accounts are bronze, silver, and gold. These are briefly described as follows:

1. Bronze account

The bronze account requires a minimum deposit of $250. Here, the user has 24/7 customer support via video chat. The user can receive bonuses of up to 20%. Withdrawals take up to 1 hour in the bronze account.

2. Silver account

This is the most common type of account. Its minimum initial deposit amount is set at $1,000, and a bonus of 50%.

Withdrawal takes up to 1 hour, but traders must complete a certain number of trades (typically forty) before signing up for a withdrawal. It also includes a 24/7 video support option, with the addition of an online master class on trading, an accounts manager, and three risk-free trades.

3. Gold account

This account requires a $3,000 initial deposit and allows a bonus of 100%! Like the silver account, you must make some trades before applying for withdrawal (which also takes about an hour). It has the same benefits as a silver account and a personal success manager for its holders.

DOES BINARYCENT OFFER A DEMO ACCOUNT?

We learned about other accounts. Let’s get to know about the demo account. The question is, does Binarycent offer a demo account? What follows is all you need to know.

You can get many perks using a demo account. The first benefit is that you can use it without any of your own money. Well, it is a demo account, that’s why. So, you can check this platform and test strategies without investing.

Since it’s a demo account, it offers you virtual cash of $10,000. How do you activate it, you’re probably asking? You can ask customer service to make it available.

But if you don’t use it after activation, does it expire after some time? Well, yeah! It expires after 30 days if unused.

HOW SAFE IS BINARYCENT?

Is it true that all binary options platforms are frauds? Should you give it a shot? Before you start trading binary options, these are questions you should ask. et’s see how safe Binarycent is.

Binarycent is a reputable binary options broker which offers a lot of benefits. The broker has been licensed by VFSC and has been around since 2015.

WHERE IS BINARYCENT LOCATED?

It is critical to know the location of the broker. It adds an extra layer of safety. Want to know about Binarycent?

Let’s start exploring. Binarycent has its location in the Marshall Islands.

WHO OWNS BINARYCENT?

Some entity always owns a broker. A firm also owns Binarycent. Want to know something more about Binarycent?

Let’s start exploring. Finance Group Corp., located in Vanuatu, owns the firm.

HOW TO DEPOSIT FUNDS IN A BINARYCENT ACCOUNT

Binarycent offers a variety of depositing options. The procedure isn’t complicated in any way. I’ll let you know different ways to deposit funds at Binarycent. Let’s get started.

Depositing money on this site is quite easy. The deposit methods are:

• Wire transfers
• Bitcoin
• Alternative coins
• Monero
• MasterCard/Visa/Maestro/JCB
• Ethereum
• Neteller
• Primecoin
• Zcash
• ReddCoin
• QiWi
• WebMoney

The minimum deposit amount is $20, and the maximum is $100,000.

HOW TO WITHDRAW FUNDS FROM A BINARYCENT ACCOUNT

Withdrawing funds is somewhat the same as depositing.bYeah, no kidding! Let’s inform you of the basics of fund withdrawal. So let’s begin. Withdrawal methods at Binarycent are the same as for deposits.

The broker says that all withdrawals are processed within one hour. It is much quicker than the majority of trading platforms. A quick side note is that withdrawal requests at weekends can take time to process.

Binarycent deposit and withdrawals

DOES BINARYCENT OFFER PROMO CODES?

Promotional codes are one of the essential marketing strategies. Different brokers use these codes to encourage purchases. It helps them to increase their platform’s overall user engagement. Let’s see what this broker has to offer!

Binarycent offers its traders a way to profit using promos.  The broker provides risk-free trading promotional codes to the elite account holders, i.e., the gold and silver holders.

Different contests regarding trade and other loss-free trading opportunities are also provided to traders. These risk- and loss-free trading promos are only offered to gold account holders.

DOES BINARYCENT OFFER BONUSES?

Many forex brokers provide traders with various bonuses, including promotional services.bBinarycent also provides its traders with several bonus opportunities. It is impressive. Below I have discussed the various kinds of bonuses provided by Binarycent.

Binarycent offers bonuses to traders on their very first deposit.  A trader can increase their assets and make profitable trades using bonuses from Binarycent. Bonuses are offered on three different levels. The initial one is 20% for a bronze account holder.

The second one is 50% for a silver account holder and 100% for a gold account holder. However, there are some conditions and requirements. After those requirements are fulfilled, the trader can make their first withdrawal.

According to the official website, a trader needs to achieve a total of three times turnover to qualify for any profit-based bonus. Turnover is “the additive sum of the trading orders the trader does, excluding the canceled trading orders.”

Does Binarycent charge taxes on profits?

Most brokers don’t charge taxes on profits. It depends on the jurisdiction of the trader. So does Binarycent charge taxes on profits? Let’s discuss it in detail!

Binarycent does not charge traders any tax on their earned profits. The website states that there is no tax policy applicable to any profits, whether they are small or on a large scale. However, as a trader, your responsibility is to pay taxes as defined by your jurisdiction.

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