BinaryCent Review Scam or Legit broker

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BinaryCent

Broker Name: BinaryCent
Platform: BO, FX, CFD
Founded: 2020
Bonus: Up to 100%
Return/Refund: 70-100%/ 0%
No. Of Assets: 30+
Regulated: No
Demo Account: Yes
Minimum Deposit: 250
US Traders: Not Accepted

BinaryCent Review

BinaryCent is a shady binary options, CFD and FX broker operated by Finance Group Corp. Finance Group Corp is an unknown entity, there is no information provided on the website. It was formerly operated by Cent Projects Ltd. and before that, the name Suomen Kerran LP appeared in their Terms And Conditions).

Editor’s Note: Why Does BinaryCent Suck In 50 Words

Even if you don’t accept a bonus, you will still need to turnover your funds at least once before you withdraw. If you don’t do that, you can withdraw but you will have to pay a fee of 20%. I hate this greedy approach! It’s like “HA, I got your money, now you do as I say!” What if I deposit and decide that trading is not for me or that I simply don’t like what they are offering? I still have to trade my full deposit once or pay a huge fee… no, no, that’s not the way to go.

Why BinaryCent Doesn’t Suck in 50 Words

Eh, this is the hard part. The only thing I can think of is the low minimum deposit ($100 – although in other parts of the website they say $250) and the fact that you can trade cents (lowest trade is 1 cent). This makes them good for practice, but then again, if you want to just practice, you can get a demo account from a bigger broker.

Is BinaryCent A Scam?

As long as a court of law doesn’t say BinaryCent is a scam, who am I to say otherwise. But let’s get real for a bit: they are not regulated by a financial authority (even though they blatantly say they are regulated), the name of the operating company has changed a few times already, and the name they give is totally bogus. I am not saying there’s something wrong with Finance Group Corp, it just looks like there is.

Should I Open An Account With BinaryCent?

BinaryCent offers Binary Options (BO), Forex (FX) and Contracts For Difference (CFD) and I think the most noteworthy thing about this brokerage is the very low trade size (1 cent), so it makes it appealing to traders who are just starting out in BO, FX, and CFD but want to get a feel of the real market, not demo. Unfortunately, that’s about it, because I don’t see other things that would make me recommend this broker.

The platform is custom built and it’s nothing to write home about, but not disastrous either. The main attraction is the live chat with video, so I don’t think you will pay much attention to the platform features because you will be busy switching between all the beautiful girls who are there to make your stay more pleasurable. If you feel particularly fond of one (or more) of them, you have an option to tip them 1, 10 or 50 bucks. It’s like Hooters for Binary Options… with a bit more clothing.

Ok, video chat with girls is not something I need or want from a brokerage, but there’s something even more bothering: according to them, the brokerage was launched in 2020 and according to web traffic numbers (see above), they probably hit the market in early 2020.

Now, if you take a look at their homepage, you will see they’ve “allegedly” received Best Broker Award (by Fair Binary Options) in the year – wait for it – 2020. Wow, how can this be? I don’t know, but I’ll let you draw your own conclusion.

They also say they are regulated/approved by a website named Forex Regulator (what a confidence-inspiring name) but when checking that website I realized this is just an entity that offers legal assistance in case you want to get your money back from a broker, in exchange for a fee. They are located in Scotland (according to the website) but I’ve found many grammar and spelling mistakes so… I don’t know for sure but I assume that people from Scotland should speak proper English.

To me things are simple: if a brokerage is not regulated, they have to offer outstanding advantages and features to make me open an account and make a deposit, and BinaryCent doesn’t do that.

It’s again up to you to decide: if you consider video chat with girls an amazing feature and don’t care much about the rest, then BinaryCent could be the brokerage for you. If you are looking for other things, then look for other things somewhere else.

BinaryCent do not provide an address for their offices on the domain binarycent.com/en. However, when accessing binarycent.com/de, the following address appears in the Terms & Conditions: 309&310 Office, Albert Street Victoria, Mahe, Seychelles.

BinaryCent Complaints

Almost everywhere I looked, I found people calling BinaryCent a scam. You know we don’t trust 100% all complaints we find online, but the amount of unsatisfied clients is worrisome. Most people complain that their withdrawals don’t get through and I’d say that’s the worst thing that could happen. Also, some users have claimed that BinaryCent has changed their T&Cs to fit their needs, without prior notice.

Given the high number of complaints, I believe you should be very careful when dealing with this brokerage.

BinaryCent Regulatory Warnings And Announcements

7.18.18 – BinaryCent is warned by New Zealand’s FMA for operating without a license or regulation. More information here.

6.22.18 and 9.20.18 – BinaryCent is warned by the France AMF for operating illegally on two separate occasions.

BinaryCent Bonus

The bonus starts at 20% for a deposit of 250 USD and can go as high as 100% for a deposit of 3,000 USD. The required turnover before you can withdraw your own money if you’ve received a bonus is 3 times the bonus and your deposit which is a little weird. The bonus cannot be withdrawn and will be used for trading only. If the client withdraws prior to reaching the turnover, the bonus will be canceled and all trading losses will be deducted from the client’s original deposit.

BinaryCent Withdrawal

Withdrawals are processed during one hour according to their website, but given the high number of complaints regarding the withdrawal time, I don’t think that one hour is a guarantee. The minimum withdrawal is 50 USD and the method is… whatever the company’s finance team wishes. Yes, according to their TCs, the client cannot request a specific withdrawal method. Only the finance team can decide how you will receive your money. It’s like your money is held hostage or something.

BinaryCent Extras

Cent accounts and girls on video chat. The former is relatively good because you can get a feel of real trading without risking much and the latter is totally uninteresting to me, but it is an extra among binary options brokerages.

Trading Bitcoin With BinaryCent

Crypto lovers, rejoice! BinaryCent offers CFD trading on Bitcoin, Bitcoin Cash, Litecoin, Ethereum, ZCash, Monero, Dash, Primecoin, Reddcoin and other cryptocurrencies. Deposits and withdrawals are available using cryptocurrencies but unfortunately, there’s no leverage, so what you have is what you can trade.

BinaryCent Ratings

User Friendliness 15/20

The website is translated into 8 languages, but it looks half-finished, with hard-to-get information. The FAQ section is not very comprehensive, Demo accounts are not available (although they advertise it I couldn’t find it on the website). The platform is relatively easy to use but clunky and takes ages to load when you switch assets or charts.

Number Of Assets And Expiry Time 14/20

The asset list is only available after registration, so I had to register to get it (fake details, don’t worry): 26 currencies, 2 commodities (gold and silver), 4 stocks and Crypto Currencies (including Bitcoin, Bitcoin Cash, Litecoin, Ethereum, ZCash, Monero, Dash, Primecoin, Reddcoin). This is a very small asset basket, but at least they offer Cryptos and people are going crazy about Crypto Currencies these days. The expiries for Turbo options are between 1 and 6 min (in increments of 1 min). Other expiries are the end of the day and long-term is one month (with increments in between).

Commissions, Support And Effective Return 13/20

There are no commissions to open an account but you will have to pay a 20% fee if you wish to withdraw from an account that has not reached the required turnover. BinaryCent also offers CFD trading, which requires you to pay a spread. This spread is floating and depends on market conditions.

The support is not very knowledgeable but is polite (after all, they are there to smile and be polite). The returns for successful Binary Options investments go up to 80% but fluctuate depending on market conditions.

Deposit, Payment And Bonus 13/20

The minimum deposit is 250 USD and can be performed through Visa, Mastercard, Neteller, Skrill and others (Bitcoin deposits and withdrawals are available). Minimum withdrawal is also 50 USD but the method will be decided by BinaryCent’s finance team. The bonus goes up to 100% be we don’t recommend accepting such a high amount.

Website Extras 12/20

The minimum trade amount is just one cent, which is good for money management. The other obvious extra is the video chat with girls but it is not my definition of professionalism. I call it a gimmick to attract male clients, hence the low score for this category. Bitcoin and altcoins trading is available.

BinaryCent

Overview

◆ How to Get Started with The Broker BinaryCent? ◆
Read This 100% Exclusive & Full BinaryCent Review
Is BinaryCent a Scam Forex Trading Platform?
Account Types, Bonuses + Withdrawal ◆ See Below!

Details

Broker BinaryCent
Official Website URL www.BinaryCent.com
Support Number +1-829-9476378
Support Types Live Chat, Phone, Contact Form, E-mail
Minimum 1st Deposit $250
Minimum Trade Amount $0.10
Bonus Up to 100%
Payout 90%
Demo Account Open FREE Demo NOW
Account Types Bronze, Silver, Gold
Deposit & Withdrawal Methods VISA, Master Card, American Express JCB, UnionPay Neteller, Skril, Perfect Money, WebMoney, BitCoin, AliPay
Number of Assets 100+
Account Currency USD
Overall Score 8.4/10

Full Review

BinaryCent is a Forex broker which was recently launched on the Internet. Established by a group of experienced and sophisticated investors who have many years of experience behind them. One of the fascinating things about is that the minimum deposit can be as small as $250 – it is up to the user how much he is willing to place.

It has several distinct account types and they are called Bronze, Silver, and Gold. The second one is the most popular one and provides 3 risk-free trades. All of them provide excellent special features which will be examined in great detail in the following Forex review.

Binary Cent broker may still be regarded as fresh and hip on the online market, but user satisfaction rates have been gradually increasing and available testimonials go on to prove that people have been reacting in a positive way towards the auto-pilot software’s performance.

Our investigation into the Forex broker platform goes on to prove that it is legit, genuine and trustworthy, even though it is still pending its CySEC certificate which should be granted pretty soon. One can proceed to get started with it in a safe and secure manner.

Table of Contents

How to Operate with BinaryCent?

Users will like the fact that this Forex broker operates with over 100 assets from the four main categories. BinaryCent features 3 main account types that we have already mentioned above. The Bronze Account Type’s main characteristics are Live Chat, 1-Hour Withdrawals, 20% Bonus and the possibility to trade with a demo account.

Silver Account includes the benefits of having 3 Risk-Free Trades, 50% Bonus, 1-Hour Expedited Withdrawals, a Master Class Web Session, Live Chat, and Demo Account. Gold Account features a 100% Bonus, 1-Hour Withdrawals, Live Chat, Demo Account, a Master Class Web Session, Live Chat, Swiss Prepaid Card, and a Personal Account Manager.

Most legit Forex brokers provide users with the opportunity to invest in a wide variety of assets and to train their trading skills using a demo account or reading/viewing materials uploaded at the Education Center. BinaryCent offers all of the said services and its featured learning materials are presented in an interactive form – as vlogs.

No Necessary Download

BinaryCent broker platform does not require users to carry out any unnecessary downloading of software. Users can operate entirely in their browser-of-choice and there is also an app which ones who prefer to invest on the go can successfully utilize.

How to Get Started with Binary Cent?

Signing up for Binary Cent broker is extremely easy, one has to enter a couple of basic details into the registration form and then place an initial deposit whose minimum level can be as small as $250. Trading positions can also be opened with as little as ¢10.

BinaryCent platform may still be pending its CySEC certificate, but the issuing is expected to happen pretty soon. User feedback and satisfaction rates have been growing steadily with time which leaves no doubt that this is a legitimate and authentic Forex broker.

If one has chosen the Bronze Account, then he has to invest anywhere between $250 and $1000 in order to fund his trading account. The Silver one requires from $1000 up to $3000 and for Gold users can place from $3000 up to $25,000.

One is free to make deposits and withdrawals using any of the following methods: credit and debit cards, NETELLER, Qiwi Wallet, OK Pay, Alipay, Bitcoins, and many others.

In short, this is how to get started with BinaryCent:

BinaryCent Broker Average Payouts

Users should keep in mind that the return on investment (RoI) rate of BinaryCent varies from one account type to the other and also depends on the initial deposit one is willing to make. It is an unwritten law in Forex that the higher the latter is – the bigger the profits, but everyone can anticipate solid daily earnings and hassle-free withdrawals with this online investment platform.

BinaryCent Platform Expected Price

Signing up for BinaryCent is free but if one wishes to achieve profits, everything depends on the account type one has chosen. The lowest possible sum is $250 and the highest is $3,000. It is proven that the Silver Account is the most popular one as it has the most stable success rates.

Is BinaryCent Broker Legit or Unreliable?

Even though the online brokerage platform is still awaiting its official CySEC approval, it should be approached as legit by the Internet trading community as it provides excellent conditions on the base of which users can amplify their earnings. Not to mention the fact that it has the lowest available initial deposit ratios.

The personal and financial data of users is kept safely secured by the means of 256-bit SSL encryption. All funds are kept in a European bank and there have been no negative user reviews, nor feedback. Traders can freely proceed to open accounts with it.

Review Verdict: BinaryCent is Not a Scam

BinaryCent Customer Support Service

This Forex broker offers multilingual customer support. Each team member passes through an exhaustive training program and users can rest assured that all of them are professionally trained. They have the ability to offer quality advice relating to a wide variety of financial topics.

“BinaryCent is an amazing Forex broker which provides excellent daily payouts and expedited withdrawals. I opened a Silver Account with the platform and I have had continuous success over the last couple of months. Anyone can achieve it, it is that easy!”

– Kosara Ichek, 37, Liberec, Czech Republic

“This Forex platform has many outstanding characteristics. Needless to say, as a person who has tested different systems and brokers since the very appearance of such profit-amplifying solutions. Most of them are scams, but not BinaryCent. It is a truly outstanding piece of software which is capable of giving amazing results and truly deserves its CySEC certificate!”

– Fricis Lapa, 53, Jelgava, Latvia

Conclusion

BinaryCent is a fully legit and genuine Forex broker. It features 256-bit SSL encryption and stores data in separate servers in order to ensure maximum security. Minimum deposit levels start from $250 which is a standard for the market. All the available testimonials and reviews suggest that many people have profited using this platform, so one can safely proceed to sign up.

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Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
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  • Binomo
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