Trade Binary Options Using The Lowest Order Sizes With A Binary Cent Trading Account
Binary options trading is an industry that offers a unique perspective on financial investments, where traders have the freedom to invest in the global financial markets and expect a substantial return on their investment. Of course, there is a huge risk of loss of the entire invested capital, but the ROI is far better than what one can expect from any traditional forms of investments. Nevertheless, almost all binary options brokers have a pretty standard set of trading conditions, which may not be suitable for the smaller sections of the retail trading market.
Binary Cent is a binary option and CFD broker that concentrates on offering a custom-tailored brokerage solution for traders that are looking to minimise their capital outflow. Binary options brokers are relatively easy on their clients when it comes to the investment sizes and order positions, but BinaryCent makes it even more attractive for smaller traders to trade with minimal investments. BinaryCent is one of the very few leading binary options broker in the industry that offers the opportunity to trade binary options contracts in cents. Read our detailed Binary Cent broker review for more information on the company’s services.
BinaryCent is a binary options brokerage that is operated by the Finance Group Corp under the Suomen Kerran LP brand, which has several other websites and brokerages dedicated to binary options, Forex, and CFD trading. The Suomen Kerran LP and FGC partnership is responsible for maintaining several online properties under different brand names and has been known to share its services and products across the different platforms.
Suomen Kerran LP is a licensed company based out of Edinburgh, Scotland, but its financial activities are not regulated by any agency. The company does claim to have a verified license and registrations from the Scottish authorities, but the license does not mention the legal validity of binary options trading or its promotion in the UK. Suomen Kerran LP’s partner, The Finance Group Corp, is registered in Vanuatu, but the company has also not specified its authorisations to provide binary options or CFD products to investors. Therefore, BinaryCent operates as a non-regulated brokerage, and may not be legally authorised to operate in strict jurisdictions such as the US, the EU, and several parts of the Asia-Pacific.
In most cases, we do not recommend trading with a non-regulated binary options brokerage, but in the case of BinaryCent, the parent company has been known to indulge in fair and honest practices. BinaryCent is one of the newest additions to the growing list of Suomen Kerran LP online products portfolio and was introduced only as recently as 2017. Suomen Kerran LP has been holding a license in the UK since 2012, which does imply that the company has been running a successful business without taking part in any fraudulent activities.
BinaryCent Assets & Options Payouts
BinaryCent offers access to both binary options and CFD assets through its brokerage, which allows traders to trade Forex, commodities, cryptocurrencies, and stock options. With the rising popularity of cryptocurrencies, BinaryCent has revamped its services recently to offer a cryptocurrency-based brokerage model, where traders have the convenience of opening and maintaining their accounts in cryptocurrencies. Here are some of the most popular assets that are available to traders:
Crypto: Bitcoin, Litecoin, Ethereum, Zcash, Primecoin, Peercoin, BlackCoin, Dash, Monero, Bitcoin Cash, Reddcoin
Forex: USD/SEK, USD/RUB, USD/JPY, USD/CNH, USD/CHF, USD/CAD, NZD/USD, GBP/USD, GBP/JPY, GBP/CHF, GBP/CAD, GBP/AUD, EUR/USD, EUR/NZD, EUR/JPY, EUR/GBP, EUR/CHF, EUR/CAD, EUR/AUD, CHF/JPY, CAD/CHF, AUD/USD, AUD/NZD, AUD/JPY, AUD/CHF, AUD/CAD
Commodities: Gold, Silver
Traders may notice that the broker is more concerned about cryptocurrencies, rather than providing other financial instruments such as stocks, or indices. The broker appears to be taking advantage of the recent surge in popularity of peer-to-peer cryptocurrencies. However, it can be a problem for those who are looking to invest in traditional stocks and indices market, as the binary options contracts seem to be limited in this area. Nevertheless, if you are open to the idea of embracing new and innovative products, a BinaryCent account should be able to provide better trading options.
The broker offers convenient investment options for all assets, as the minimum investment per position starts from $0.10. Being able to start trading from just 10 cents is indeed one of the best aspects of trading with BinaryCent, as it not only allows smaller traders to access the markets but also offers an incredible flexibility in position sizing and money management. Traders can invest in binary options using any amount starting from 10 cents, which can go all the way up to $1,500. BinaryCent also allows its users to open any number of simultaneous positions, thereby offering greater freedom of trading.
The comparatively low-risk trading environment is supplemented with higher payouts, which are standard across Suomen Kerran LP products. The average payouts for classic binary options vary from 60% to 90%, with traders being able to invest in short-term and long-term options. Despite the high payouts, the relative lack of instruments and types of binary options products may hinder traders from enjoying an even higher payout than those offered by the current contracts. For instance, high-risk options such as ladder and touch/no-touch options could have yielded higher returns, but the broker only offers the standard binary options products for its traders.
All BinaryCent traders are treated to a bonus program, which includes a deposit bonus, as well as risk-free trading. Smaller accounts only offer access to a small bonus of 20% on the initial deposit and do not provide any additional benefits. Traders are only offered better bonuses and account benefits for the larger category of accounts, which are eligible for up to 100% in deposit bonuses. The bonuses are provided as trading credits, which cannot be withdrawn, but the profits and the initial deposit can be withdrawn after meeting at least three times the volumes traded over a specific period. Choosing a bonus program may not allow traders to withdraw money from their accounts unless authorised by the broker.
BinaryCent offers a risk-free trading promotion, which offers up to three risk-free trades after making the initial deposit. The risk-free trading bonus is actually credited as a trading bonus and compensates the trader by crediting the amount lost during the first three trades performed on a new account. It is good to note that traders can take a certain amount of risk at the beginning, with the knowledge that they will be protected by a risk-free trading bonus. However, you should be aware that the risk-free trading bonus may be subject to several trading conditions, as prescribed by the broker from time to time.
BinaryCent organises a Binary Options Contest for its customers, which offer up to $20,000 in prize funds. The broker chooses 20 winners every week, and the prize pool is distributed among the top traders on the platform. Contest winners are allowed to withdraw their prize money without any trading conditions, or they can use it to trade the markets.
BinaryCent Binary Options Platform
The BinaryCent trading platform provides a convenient environment for traders to access the broker’s products and services through a browser-based trading interface. The browser platform is easy to use, does not require any installation, and offers a secure trading experience without any reliability or security concerns. The platform was developed entirely in-house, which means that there are both advantages and disadvantages that are associated with a proprietary trading platform.
We have largely experienced a positive trading environment with the BinaryCent platform, which offers all the useful trading tools and information in a feature-rich layout. Of course, there were a couple of niggling concerns related to trading reliability, but overall, the platform exceeded our expectations. We were also quite impressed by the live video chat feature, which seems to be the most stand-out offering for all Suomen Kerran LP platforms.
BinaryCent binary options app is compatible with all major web browsers, provided you have the latest version installed. The responsive platform is indeed well-suited for all devices and is even compatible with mobile platforms. BinaryCent is indeed one of the best platforms in the market that not only concentrates on the user interface but the number of tools offered for trading. However, the chart in itself is not as advanced as one would expect, as it fails to include the necessary analytical tools and custom indicators for a thorough evaluation of the markets. Overall, the BinaryCent platform should offer a stable trading experience, despite the few issues that traders may face in the long run.
BinaryCent supports Algo trading for traders who wish to use bots for their trading, or the platform also offers the convenience of using social trading for copying trades from other established traders. The Copy Trade feature, along with the option of algorithmic trading, allows professional traders to trade the markets with expert assistance, without worrying about the legality of using automated trading bots or trade recommendations from external sources.
BinaryCent Mobile Apps
BinaryCent offers custom-tailored mobile trading platforms for both iOS and Android users, particularly for those who prefer trading on a dedicated mobile trading app. The iOS and Android BinaryCent apps are available for download from the Google Play and Apple iTunes stores. These mobile applications have all the essential components for comprehensive binary options trading and are designed to compete with all the other established mobile trading platforms in the market. In short, the BinaryCent mobile platforms have achieved its objective of catering to mobile traders, but the apps do have small reliability issues that are synonymous with its desktop platform counterpart. Traders are also given the option of accessing their accounts through the web trader, but it is recommended to download the mobile trading apps for an exclusive mobile trading experience.
BinaryCent Accounts, Minimum Deposit, & Payment Options
BinaryCent used to offer a binary options account for as low as $10, but the company has recently come up with a new set of account conditions that stipulate a minimum deposit of $100. $10 used to be a great option for smaller traders, but it is not clear as to why the company has increased its BinaryCent minimum deposit. Regardless, $100 is still lower than the amount required for opening an account at other binary options brokerages.
Every Suomen Kerran LP broker has three different account options, the Bronze, the Silver, and the Gold account option. The Bronze account is the entry-level trading account that starts with a minimum $100 deposit, which is available for a maximum investment of $1000. Deposits from $1000 to $3000 can provide access to the Silver account, while the Gold account requires a deposit ranging from $3000 to $50,000. The broker only allows its traders to invest a maximum of $50,000 into a trading account, which is same across all BinaryCent sister brokerages.
The Bronze account offers a 20% bonus on deposits. The bonus offer is enhanced for the Silver account, which increases to 50%, while the Gold account provides a higher 100% deposit bonus. The Silver and Gold accounts offer a masterclass session, along with three risk-free trades. To keep in line with the VIP accounts offered by other brokers, BinaryCent provides access to a personal success manager, but the larger account options are slightly more expensive than the ones offered by other mainstream binary options companies.
BinaryCent has an amazing array of payment options, which offer the option to make a deposit or withdrawal through Visa/MasterCard, bank wire transfer, Skrill, Neteller, PerffectMoney. The company has also recently introduced new payment options through cryptocurrencies that accept Bitcoin, Ethereum, Litecoin, Altcoins, and other major cryptocurrencies. The minimum withdrawal amount is $50, and all withdrawals will be processed within an hour. The broker offers a 24 hours service, which indicates that the broker also facilitates financial transactions over the weekends. However, bank wires and other local payments may be unavailable over the weekends, but the guarantee of 1-hour withdrawal for all traders is indeed pretty impressive.
BinaryCent Customer Service
The BinaryCent customer service representatives share the platform with all the other companies under the Suomen Kerran LP brand, but there does not seem to be any issues that affect traders directly. In fact, the professional customer service department is active 24X7 and is available on call for any queries. Traders will be required to sign up or register for an account for more detailed information, but the company does pay significant attention towards maintaining an excellent customer service experience. The live video chat ensures that there is a physical presence at the other end of the customer chat interface, providing more reassurance to the trader. Additionally, the broker also provides language-specific customer support phone numbers for English, Russian, Chinese, Thai, and Singapore-based traders.
Brokers often try to impress their traders by offering several trading resources such as technical analysis, trading signals, news coverage, and extended training courses. However, BinaryCent only provides a master class session through the web, and there does not appear to be any other trader resources or learning materials. Neither BinaryMate nor its other associate brokers, offer any exclusive training materials or trading information to its traders, which necessitates traders to look for such information through alternate third-party service providers.
- Traders can open an account with as low as $100.
- The broker offers a wide range of cryptocurrencies for binary options trading.
- The minimum position size for contracts starts from 10 cents.
- Up to 100% bonus for Gold account holders.
- No free demo account.
- Reduced number of assets with regards to stocks and indices.
- BinaryCent is not a regulated binary options broker.
What Are The BinaryCent Account Options & Minimum Deposit?
BinaryCent offers three account options, the Bronze, the Silver, and the Gold accounts, with the minimum deposit for a BinaryCent Silver account specified at $100.
What Is The Maximum Payout?
The maximum payout for a binary options contract at BinaryCent is 90%. The broker does not offer a refund option for losing trades.
Is BinaryCent A Scam Broker?
BinaryCent is a new brokerage, but the company that runs BinaryCent has been operating in the markets since 2012. Hence, BinaryCent is not a scam broker.