When trading you need to rely on trusted brokers. In a trading environment, a reputable advisor who can build a strong market foundation for your financial well-being is extremely important. Thus, the stage of checking the assistant for lice is almost the key in this whole process. Let’s find out what you should pay attention to, what you should pay closer attention to using the example of the binary broker BinaryCent. Based on this analysis, we will determine by what criteria it is possible to convict an intermediary of fraud, and we will find out whether this representative is a deceiver.
History and regulation
BinaryCent is a trading platform for binary options, spot forex and contracts for difference, founded in 2016. It is managed by Wave Markets LTD corporation in the Marshall Islands. This database provides a huge range of working platforms, for example, CFD, Forex and dual trading.
The assistant is protected by SSL for a narrower profile – only small traders. However, it is not regulated by official bodies, meaning it is an offshore brokerage service. According to data from open sources, the licensing authority of the office is the Global Financial Services Authority (GLOBSA). However, if you scour the Internet thoroughly, you will not be able to find such an agency. You can see a similar regulatory non-governmental body GLOFSA, which also does not have any information about the supervision of the broker.
Unfortunately, the page contains very little information about the company.
Website and trading platforms
The broker’s portal is very minimalistic and contains little information to help you find the options you need.
The trading platform has a wide functional range and is easy to use. It is one of the most innovative and advanced structures on the market. You can work with it both on a computer and from a mobile phone, in a web browser or downloaded program. The platform allows you to build and track charts, use indicators, drawing tools and technical analysis.
There is also a mobile application for Android and iOS.
Trading conditions and bonuses
The BinaryCent office offers a choice of three types of accounts, which are also personal user profiles. They have different offers, tied to the financial capabilities of each trader.
| Bronze account | Silver account | Gold account | |
| Minimum deposit | $250 | $1000 | $3000 |
| Copy trading | yes | yes | yes |
| Live video chat support | yes | yes | yes |
| Deposit bonuses | 20% | 50% | 100% |
| Withdrawal time | 1 time | 1 time | 1 time |
| Training | No | yes | yes |
| Number of first trial risk-free trades | 0 | 3 | 3 |
| Personal manager | No | No | No |
| Demo account | yes | yes | yes |
The payout for one transaction can reach 95%. As for trading instruments, the range includes more than 100 different assets (Forex, shares, stock market indices, commodities, cryptocurrency). On the currency exchange and CFDs, the leverage is set at a ratio of 1:100. Good copy trading is possible here. A demo account is opened after paying the minimum deposit. The starting transaction amount can be 10 cents. This is the only broker in the financial space with such an offer. The assistant also provides protection against negative balance so that the merchant does not go into the red. The commission is calculated when withdrawing funds from a credit card in the amount of 5%, then according to the level of positions involving spreads. Players can choose their own trading strategies: turbo, intraday and long-term entries.
You can deposit funds into your account with the BinaryCent broker through credit and debit cards, cryptocurrency wallets, Skrill, Neteller, Perfect Money and WebMoney. Deposits and withdrawals are possible in Bitcoin, Ethereum, Dash and Litecoin.
Binarycent constantly offers new promotions to its customers, and also provides a referral program to attract other players. As we have already noted, there is a bonus for the first deposit and it is different for each tariff plan. Prize drawings are held with various conditions of fulfillment and rewards in the form of equipment from Apple or a fund in the amount of 20 thousand dollars.
Feedback and customer reviews
User support channels on the BinaryCent website include emergency contact chat, a web agent who consults with experts, email, and a hotline number.
As for the audience’s opinion, the amplitude of its favor is very wide. The representative left some extremely dissatisfied, some do not see any particular advantages or disadvantages in him, while others are satisfied with everything.
Results
BinaryCent is a rather controversial binary brokerage company. On the one hand, the first and most important factor of regulation has not been established. However, customer reviews are neutral in this regard, and this does not bother anyone. A huge product range and cool opportunities in offers, frequent bonuses and promotional events – all this is undoubtedly a significant advantage. But the issue of control is their global drawback. You need to work with this broker with extreme caution or abandon this idea altogether.
