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Binarycent Forex Broker provides real users with 20 positive reviews, 1 neutral reviews and 2 exposure review!

Binarycent Broker Review

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Binarycent Review 23

Latest All(23) Positive(20) Neutral(1) Exposure(2)
Exposure
FRAUDULENT COMPANY, UNABLE TO WITHDRAW PROFITS

scam company, I deposited 60 USD and profited 6x the deposit amount, a total of $353 in profit. Even so, they won't let me withdraw, claiming that I have to negotiate 3x the deposit amount, whereas I negotiated 6x. They are scammers, stay away. (they put a bonus on my account without me asking just to stick to the terms and conditions).

DANIEL6448
2024-11-28
Positive

I prefer learning through videos, and the educational videos provided on this platform are incredibly helpful. They clarify things I wouldn't understand as easily otherwise. The tool's color coding also makes it quick to spot trends and patterns. However, the charting tools could benefit from more customization options to better suit my need for detailed analysis. Even so, the platform's visual layout reduces the stress of learning and trading.

AdamNeal
2024-11-08
Positive

I've been using Binarycent for a few months, and their user-friendly platform has exceeded my expectations. Last Tuesday, I managed to place a quick trade on EUR/USD during my lunch break thanks to the intuitive interface. I also appreciate that you can start trading with just $0.10, which is ideal for testing new strategies with minimal risk.

JayNelson
2024-10-08
Positive

I am the biggest beneficiary of the Binarycent platform’s copy trading feature, which has enhanced my trading skills. I realized more trading approaches and market analysis lessons through following successful traders. This brings us to the next key benefit of the platform: instant execution. The world of binary options is pretty fast, and delay can cost a lot of money; Binarycent does not disappoint me. The main disadvantage which I can single out is the small number of technical indicators offered. Additional methods of analysis are also desirable at this stage.

FX2924191638
2024-09-01
Positive

One aspect of Binarycent that's really stood out to me is their customer support. Last month, I had an issue with a withdrawal, and their team resolved it within hours. I'm also impressed with the range of expiry times available. Just yesterday, I made a successful trade on a 30-minute oil option, which fits perfectly with my trading style. On the flip side, I find their educational content a bit lacking. As someone trying to improve my skills, I wish they offered more advanced strategy guides and webinars.

RobertGreene
2024-08-26
Positive

There are these special trading contests that Binarycent offers during the different seasons, and boy, has it changed the whole aspect of trading for me? I love the leaderboard system and it truly makes me want to compete in my own strategic way. Furthermore, the prize money is quite reasonable for the events that take place. On the other side, I wish they opened more often and of smaller amounts as some of us are not high rollers as they keep suggesting. The big ones may be a little on the intimidating side. On the whole, it is entertaining and is an interesting way to vary trading.

FX9441493112
2024-08-18
Positive

Navigating this platform as a novice trader has been a breeze. The intuitive dashboard and seamless functionality on both app and web make it easy to manage trades and monitor performance. I hope to see more advanced charting tools in the future.

FrankValdez
2024-08-08
Positive

I used to struggle with trade analysis until discovering a platform that offers intuitive copy trading. This feature allows me to mimic top expert traders' positions with just a click. Recently, I mirrored a trade on gold and rode the surge for a sizable profit. This method provides a solid starting point for learning technical analysis.

JamesKelly
2024-07-21

  

Binarycent 2025 Review: Everything You Need to Know

  Summary: Binarycent has emerged as a notable player in the binary options trading space, offering a user-friendly platform and a range of trading assets. However, concerns about its regulatory status and customer service persist, raising questions regarding its overall reliability.

  Note: Its important to consider that Binarycent operates under various jurisdictions, which may impact its regulatory compliance and user experience. This review aims to provide a balanced perspective based on multiple sources to ensure fairness and accuracy.

  

Rating Box

Category Rating (out of 10)
Account Conditions 5.5
Tools and Resources 4.0
Customer Service and Support 6.0
Trading Experience 6.5
Trustworthiness 4.0
User Experience 5.5
Overall 5.5

  We rate brokers based on extensive research, including user reviews, expert opinions, and factual data.

  

Broker Overview

  Founded in 2017, Binarycent is an online brokerage based in the Marshall Islands, specializing in binary options trading, forex, and CFDs. The broker is owned by Wave Makers Ltd. and operates a proprietary web-based trading platform, which eliminates the need for software downloads. Binarycent offers a range of assets including cryptocurrencies, stocks, commodities, and forex pairs, making it a versatile option for traders. However, it is important to note that Binarycent is regulated by the Vanuatu Financial Services Commission (VFSC), which is not considered a top-tier regulatory body.

  

Detailed Section

  

Regulatory Areas

  Binarycent is primarily regulated by the VFSC, which has been criticized for its lax regulatory standards. Many users have expressed concerns about the lack of oversight, which could potentially expose traders to risks associated with unregulated brokers. According to BrokerChooser, the absence of a reputable regulatory body raises significant red flags for potential investors.

  

Deposit/Withdrawal Currencies/Cryptocurrencies

  Binarycent allows deposits and withdrawals in several currencies, including USD, EUR, and various cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. The minimum deposit required to open an account is $250, which is relatively high compared to some competitors. Withdrawals are processed within one hour, but a 5% fee applies for credit card withdrawals, as noted by Tokenist.

  

Minimum Deposit

  The minimum deposit for Binarycent is set at $250, which may deter novice traders who are not willing to commit a significant amount of capital upfront. Many reviews highlight this as a barrier, especially when compared to other brokers that offer lower minimums.

  

Bonuses/Promotions

  Binarycent offers a variety of bonuses ranging from 20% to 100%, depending on the account type. However, these bonuses come with stringent conditions, requiring traders to meet high turnover rates before they can withdraw any profits associated with the bonus. According to Bin Option, this can be a significant hurdle for traders looking to access their funds.

  

Tradable Asset Classes

  Binarycent provides access to over 150 different assets, including forex pairs, cryptocurrencies, stocks, and commodities. This wide range allows traders to diversify their portfolios, but the platform is particularly known for its binary options, which offer potential payouts of up to 95%. However, some users have noted that the selection of forex pairs is limited compared to dedicated forex brokers.

  

Costs (Spreads, Fees, Commissions)

  Binarycent does not charge any additional fees for deposits or withdrawals, but a 5% fee for credit card withdrawals can impact profitability. The platform offers floating spreads for trading, which can vary based on market conditions. Some reviews suggest that this lack of transparency regarding spreads and fees can be concerning for traders.

  

Leverage

  Binarycent offers leverage up to 1:500 for forex and CFDs, which can amplify both profits and risks. However, such high leverage is typically recommended for experienced traders, as it can lead to significant losses.

  

Allowed Trading Platforms

  The trading experience at Binarycent is facilitated through its proprietary web platform, which is user-friendly and accessible from any device with an internet connection. However, the absence of popular trading platforms like MT4 or MT5 may disappoint some users who prefer those established systems.

  

Restricted Regions

  Binarycent does not accept clients from the United States due to regulatory restrictions. Many user reviews indicate that this limitation can be a significant drawback for potential traders in the U.S.

  

Available Customer Service Languages

  Binarycent offers customer support in multiple languages, including English, Chinese, Russian, and more. However, some users have reported delays in response times, particularly for complex inquiries, which can be a point of frustration. Customer service is available 24/7, but the lack of weekend support may hinder immediate assistance during critical trading hours.

  

Repeat Rating Box

Category Rating (out of 10)
Account Conditions 5.5
Tools and Resources 4.0
Customer Service and Support 6.0
Trading Experience 6.5
Trustworthiness 4.0
User Experience 5.5
Overall 5.5

  

Detailed Breakdown Section

  

Account Conditions

  Binarycent's account conditions include a minimum deposit requirement of $250, which is relatively high for new traders. The broker offers three account types—Bronze, Silver, and Gold—with varying bonuses and features. However, the requirement to deposit before accessing a demo account has been criticized as counterintuitive for beginners.

  

Tools and Resources

  The platform features basic charting tools and a copy trading option, but lacks comprehensive educational resources. This deficiency can be a significant drawback for novice traders who may require more guidance.

  

Customer Service and Support

  Customer service is available 24/7, but user reviews indicate mixed experiences with responsiveness. While some users report satisfactory support, others have faced delays and difficulties in reaching the support team.

  

Trading Experience

  The trading experience on Binarycent is generally user-friendly, with a straightforward web-based platform. However, the absence of popular trading platforms like MT4 or MT5 may limit experienced traders.

  

Trustworthiness

  Binarycent's trustworthiness is a major concern due to its regulatory status. While it operates under the VFSC, many users express skepticism about the broker's legitimacy, especially given the lack of oversight from more reputable regulatory bodies.

  

User Experience

  Overall, user experience on Binarycent is mixed. While the platform is easy to navigate and offers a variety of assets, the high minimum deposit and lack of educational resources may deter potential traders.

  In conclusion, while Binarycent offers some attractive features, potential users should exercise caution and conduct thorough research before investing. The mixed reviews and regulatory concerns highlight the importance of understanding the risks involved in trading with this broker.