BinaryCent is an offshore Forex & Options broker that opened in 2017. To learn about withdrawal problems and broker complaints read this.
Warning! This Broker is NOT Licensed in the USA!
Use a FINRA Regulated Broker, see here
The trading system that Binary Cent gives their clients in a proprietary system that we see is also used by the broker BinaryMate. They offer 3 types of binary options; Turbo, Intraday and Long Term options. The Turbo options are for 30 seconds, 1, 2, 5, 10, 15 and 30 minutes. Long term options are weekly that go out five weeks.
Forex CFD trading is available with 100:1 leverage, and 1 pip spreads on EURUSD. There is a Copy Trading feature and a trading competition offered. Underlying assets available for trading include the standard: Forex / Currencies, Commodities, Crypto, Market Indices, and Popular Stocks
Minimum deposit for a new trading account at BinaryCent is $500, and the minimum trade size is $10. Accounts can be funded with Credit Card, Bitcoin, Crypto Currency or Perfect Money. The minimum withdrawal size is $50. When trading binary options your wager is set in cents, not dollars.
Automated Robot Scams
Warning! Most automated trading systems do not work and are not profitable.
Before using a trading app you saw on Facebook, read about the scam.
BinaryCent offer new traders bonuses up to $5,000, which is 100% of a $5,000 deposit. As with all brokers, there are certain terms and conditions attached to the bonus money, and it is important for a new investor to really understand the rules. In order to withdraw your money after accepting a bonus, you need to have trading volume of 20 times your deposit.
There are many complaints in the investors forum from traders who took bonus money without understanding how it works.
Is BinaryCent a Regulated Broker?
No, BinaryCent is not a regulated broker. They are now owned and operated by Wave Makers LTD, company number 103581, Marshall Islands. (Formerly, Cent Projects Ltd, located at: 309 & 310 Office, Albert Street, Victoria, Mahe, Seychelles.) Contact phone numbers are: United States: (829) 947-6393 and Australia: +61855507288. Contact email address is [email protected], and their official website is at: https://www.binarycent.com/.
Scam Broker Investigator has reviewed more than 600 Crypto & Forex brokers since we launched in 2013. One of the best ways you can determine if a broker is legitimate or a scam, is to check if they have a license from your local government financial regulator.
The reason why investors use only licensed brokers, is because there have been many withdrawal problems with offshore brokers. By using a licensed broker, you can be assured that the price feed is accurate, trades are executed correctly, and your broker will not disappear one day. You can see all the licensed CFD brokers by looking here.
Warning! FINRA recently published an investor alert regarding offshore brokers.
Read the alert on FINRA’s website here.
You should try out their Free Demo Accounts, signup here.
Please share with other investors, your experience investing with the brokers at BinaryCent in the comments below.