Binarycent Review 2021

Binarycent Review 2021
Davis J.
Robertson A.
January 2021

10

Position
in rating

Trading terminals:

Binarycent's own web platform
10

Position in rating

8.7/10
Overall rating

Trading terminals:

Binarycent's own web platform

Attention!

Due to the large number of negative reviews about this company and because it occupies the low position of number 20 on our Ratings List of Forex brokers, the Traders Union does not recommend cooperating with this broker.

Instead, our experts strongly advise you to select a brokerage from among the Top 5 on our objectively ranked list:

Summary of Binarycent Trading Company

Binarycent is a broker that has been operating since 2015 and is focused on traders who prefer binary options trading. You are offered three types of accounts and the opportunity to test the trading conditions of the broker on a demo account. During its years of service, the broker was awarded the Best Broker 2015 award, according to Fair Binary Options.

💰 Account currency: USD, EUR, CHF, MBT
🚀 Minimum deposit: 250 USD
🔧 Instruments: Currency pairs, CFD
Attention!

We work exclusively with the accounts opened through Traders Union.

👍 Advantages of trading with Binarycent:

  • quick and easy registration procedure;
  • quick withdrawal of funds in any convenient way.

👎 Disadvantages of Binarycent:

  • the broker's activity isn’t licensed or regulated;
  • website is not multilingual;
  • no training materials;
  • high level of minimum deposit;
  • support service responses are not really informative;
  • the trader shall verify the account to carry out transactions;
  • bonuses accrued to the trader shall be canceled if the trading volume does not reach the value specified by the broker.

Overall

Binarycent broker accommodates trading in binary options and is focused on cooperation with professionals, as evidenced by the high level of the minimum deposit and the lack of training materials.

Visit Binarycent

Geographic Distribution of Binarycent Traders

Binarycent Latest Comments for 2021

0
11
4

Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.

Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of Binarycent published on the website in 2021 are verified and confirmed by Traders Union as reliable comments by real traders.

Can you make money on binary options? You can, but definitely not with the Binarycent broker. They are a real bucket shop! It is simply impossible to describe all the negative aspects of this broker in one feedback, but the most important thing is: they draw under-the-counter quotations, they have constant slippage, especially at night, and a fraudulent bonus program. The broker simply shoots in a dark with their quotations. In a few hours, I blew my entire deposit thanks to manipulations by the broker. Regarding the withdrawal of money, I can say one thing for sure: keep away from this broker.

If you managed to get involved with Binarycent – my sincere condolences to you. These are real scammers. Even at the stage of replenishing the deposit, I got suspicious. After all, the minimum amount of the initial deposit is $250, while competitors have from 10 to 50. Then it turned out that I was forcibly given a bonus, which I cannot refuse. To work out this bonus, you need to realize a fivefold turnover of the first deposit within 3 months, otherwise, the bonus will expire! Therefore, I had to connect to the program for copying transactions to work out the bonuses. Bottom line: the trader blew my entire deposit along with bonuses in 2 days.

For a long time, I thought about trying trading binary options. As a result, I decided to open an account with Binarycent. The initial deposit turned out to be rather big, $250. I entered and started a cautious trade. But despite this, after two weeks my deposit was completely lost. I replenished my deposit and started trading. As a result, a month later, the second deposit was also lost. I have no particular complaints about Binarycent, but I realized that making money on binary options is almost impossible.

Binarycent is probably one of the worst brokers in the binary options market. The company has been on the market for almost five years, but during this time, they have not even been able to make a normal and convenient website. Binarycent’s bonus programs don’t stand up to scrutiny. It is not possible to work the bonus out, no matter how many transactions you make. The program for copying transactions is a sure way to blow your deposit. I have repeatedly noticed that the broker is “drawing” the candles, but through technical support, I could not achieve anything. Conclusion: do not even try opening an account with Binarycent.

This was my first and last binary options broker. After it, I am convinced that it was simply impossible to make money on binary options, and returned to Forex. Everything is bad with this broker. Not only is there a large initial deposit, but also Binarycent imposes its own bonuses. It is almost impossible to work them out, so you start taking risks once more and blow your deposit. Which is what happened to me. Also, the broker has practically no technical support. Emails are rarely answered or answered very late, and phones are not answered at all.

The only good thing about this broker is the fast deposit and withdrawal of money. You don’t need any additional supporting documents or approvals of the support service. This is where the positive aspects of Binarycent end, however. Everything else is worse than ever. I was especially angry about the bonus program. When you replenish your deposit, you will automatically receive a bonus. However, to work it out, you need to work out five times the amount of the first replenishment in 3 months. But to refuse, you need to contact the support service within three days after replenishing the account, and during this time you cannot trade. But there is no guarantee that the support service will answer you within three days, so most often the bonus is “imposed” and you lose your money.

Not even once did I manage to get a chat with my manager, although this is provided for by the broker’s trading conditions. It’s an absolute deception. Technical support could not give a normal answer to any of my requests. Binarycent’s approach to the client is simple: deposit money, and then figure it out as you go. Many times, I noticed that the broker’s quotations do not match the market ones. I wrote about this to the support service, but I could not prove anything. Therefore, if you want to trade binary options and make a profit, choose another broker.

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Video Review of Binarycent

Expert Review of Binarycent

Binarycent is a binary options broker verified by Visa Inc. and Mastercard Inc., and the reliability of the personal data is secured by the SSL (secure sockets layer) encryption system. No regulatory authorities monitor Binarycent, i.e., it is not licensed.

The broker offers its clients the opportunity to get not only earned income (for options), but also passive income. There is a Copy Trades Tool and an affiliate program has been created; participation in such programs positively implies not only a trader's steady income but also good trading conditions.

The website has an intuitive interface localized into 8 languages. However, it should be noted that some of the sections are available only in English.

Antony Robertson

Traders Union
Financial Analyst

Analysis of the Main Features of this Binary Broker

8.7

Overall rating

8.4

/10

Execution of orders

9

/10

Investment instruments

8.8

/10

Withdrawal speed

8.6

/10

Customer Support work

8.3

/10

Variety of instruments

9.1

/10

Trading platform

Dynamics of the Popularity of Binarycent
in 2020 among the Users of the Traders Union

Logo TU
20,0%
Top 3
10,0%
Top 5
7,0%
Top 10
5,0%
Top 20
1,0%
Top 40
0,5%
Top 100
0,2%
Top 100+
0,05%
Jan.
Feb.
Mär.
Apr.
Mai.
Jun.
Jul.
Aug.
Sep.
Okt.
Nov.
Dez.

Investment Programs, Available Markets and Products of the Broker

Binary trading conditions are the main specification of Binarycent. The broker offers the Copy Trading tool and an affiliate program so that you can get passive income as you like it.

Copy Trading tool

This feature allows you to get income even if you have no trading experience. Just open an account, start the service for transactions copying, select traders, whose transactions are to be copied, and make a profit. 

  • Quick registration.

  • Account replenishment for any amount starting from $250.

  • You can select one or several traders, whose transactions are to be copied.

In the personal account you have access to information on transactions, their profitability, and in case of an unsatisfactory result, you can change the list of traders to copy.

Important!

If you are a large investor and plan on investments over $ 10,000, contact us at [email protected] by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.

Binarycent affiliate program:

  • Referrals. To become a broker's partner, you have to open an account on the Binarycent website. Go to the Referrals section and click the "Refer a friend" button. After that, you become a referrer, which is a person who invites new clients to the company and gets a reward in the form of commissions for the referral. The Binarycent referral program allows referrers to earn up to 20% of the amount the referral (invited client) deposits into his account as a minimum deposit.

The broker provides its partners with around-the-clock support service and daily payments. To invite new customers, use an individual referral link, which you’ll get from a broker after registering in an affiliate program.

Rebate and Discount Programs of the Traders Union for Binarycent

The Traders Union rebate service helps to reduce trade costs. Just register on the Traders Union website, select a trading partner in the list of brokers, go to the broker's website using the Traders Union referral link, and open an account. As a result, you shall trade as usual and get a financial reward daily: up to 100% of the amount that you pay to the broker for transactions executed. The bonus shall be credited to the trader's account regardless of whether the deals were successful or not.

Try it!  Try it!

Trading Conditions for Binarycent Users

Binarycent provides traders with standard conditions for trading binary options. Forex and CFD assets are available among the instruments; you don’t need any additional applications to be installed, you can trade them directly from the browser or mobile devices. The broker is focused on cooperation with traders who are ready to invest from $250 to start trading. The minimum investment in trade is only 10 cents.

$250

Minimum
deposit

1:100

Leverage

24/7

Support

Binarycent's own web platform
💻 Trading platform: Binarycent's own web platform, and mobile app for iOS and Android
📊 Account types: Bronze, Silver, Gold, Demo
💰 Account currency: USD, EUR, CHF, MBT
💵 Replenishment/Withdrawal: Bank cards Visa, Visa Debit, Visa Electron, MasterCard, Maestro, bank transfer Wire Transfer, e-payment systems Neteller, Perfect Money, WebMoney, Bitcoin, Litecoin, Ethereum, Z Cash, Monero, Bitcoin Cash, Dash, Primecoin, Reddcoin
🚀 Minimum deposit: 250 USD
📈️ Min Order: Minimum investment is 10 cents
🔧 Instruments: Currency pairs, CFD
📱 Mobile trading: Yes
➕ Affiliate program: Yes
⭐ Trading features: Binary Options
🎁 Contests and bonuses: Yes

Comparison of Binarycent with other Brokers

Binarycent Binary.com IqOption ExpertOption Binomo Corsa Capital
Trading
platform
Webterminal Webterminal IQ Option Digital-options private trading terminal WebTrader
Min deposit $250 $5 $10 $50 $10 $1
Trading
instruments
currency indexes, Forex, goods, stock, random index Forex, goods, indexes, stock no indexes, stock, currency pairs / CFD, goods indexes, stock, Forex, tick options, futures binary options
Signals No No Yes No Yes No
Analytical
support
No Yes Yes No Yes Yes
Training No Yes Yes No Yes Yes
Additional
tools
Chat support, Copy Trading tool premature closing Return of the fixed percent from deal at the unsuccessful forecast No No Cancelling of an option prior to the beginning of its action

Broker comparison table of trading instruments

Binarycent Binary.com IqOption ExpertOption Binomo Corsa Capital
Forex No Yes Yes No No Yes
Metalls No Yes Yes No No Yes
Crypto No No No No No No
CFD No Yes Yes No No Yes
indexes No No No No No No
Stock No No No No No No
ETF No No No No No No
Options Yes Yes Yes Yes Yes No

Binarycent Commissions & Fees

Information

Traders Union have analyzed Binarycent trading conditions for trading and non-trading commissions. The commission for transactions is charged depending on the trading asset, there is no trading fee for replenishment or withdrawal of funds; but replenishment of the deposit using Visa and MasterCard bank cards, add a 5% fee to the trader. Hidden fees are not found.

Account type Spread (minimum value) Withdrawal commission
Bronze 1% per transaction amount May be charged by payment systems
Silver 1% per transaction amount May be charged by payment systems
Gold 1% per transaction amount May be charged by payment systems

The broker’s commission for transferring positions to the next day (swap) is 0.07%. We have compared the trading fees at Binarycent with those of its competitors. You can see the results of the analysis in the table below.

Broker Average commission Level
Binarycent $5 High
Binary.com $0 Low
Binomo $2 Medium
Binarycent
$5
Binary.com
$0
Binomo
$2
Conclusion

Binarycent broker charges a commission for the transaction’s execution, but not for deposits and withdrawals. Visa and MasterCard payment systems are the only exceptions, where there is a commission of 5% of the amount for the replenishment of an account with such cards.

Detailed Review of Binarycent

Binarycent is a company offering the best conditions for trading binary options. To get started, you need only a very few minutes of idle moments: registration on the site takes about a minute, and funds are credited to a trading account instantly or within an hour, depending on the payment system. You can find additional information on binary options in the personal account in the form of video tutorials, and the intuitive interface will be a walk in the park even for novice traders.

A few figures that could be interesting for traders choosing a broker:

  • 3 types of real accounts and 1 demo account are available for traders;

  • the minimum deposit is $250;

  • the maximum profit margin from the transaction is 95%;

  • the minimum amount to invest is 10 cents.

Binarycent is the optimal broker for professional binary options traders

Binarycent specializes in trading services for binary options. Trading conditions are designed preferably for professionals because the company has set a high level of the minimum deposit of $250. However, there is good news for novice traders who are ready to invest this amount to start trading: the minimum investment in a transaction is just 10 cents, and the bonus “First 3 risk-free trades" allows you to get compensation on the account if the first three transactions turn out to be unprofitable.

Trading at Binarycent is carried out on the company's proprietary web terminal. Just register on the broker's website and enter your personal account from any device connected to the Internet. There are also mobile apps for iOS and Android.

Useful Binarycent services:

  • FAQs. Here you can find detailed answers to all the frequently asked questions about account opening, security, bonuses, and trading.

Advantages:

1

simple and quick registration procedure (takes just a very few minutes);

2

the most common payment systems are used to replenish the account and withdraw funds;

3

there is a video with detailed instructions on binary options trading for novice traders.

How to Start Making Profits — Guide for Traders

There are 3 types of real accounts available at Binarycent. They differ in the amount of the minimum deposit and access to additional functions (web conference, “First 3 risk-free trades”, personal account manager, and Swiss payment card). Binarycent does not provide information on other trading conditions for different account holders.

 Types of accounts:

Account Type
Description
Bronze
The minimum deposit is $250, funds are credited to a trading account or a client's personal card within an hour;
Silver
The most popular account among Binarycent clients. The minimum deposit is $500. Transactions are carried out within an hour, and there are a web conference and a bonus "First 3 risk-free trades” among the additional functions;
Gold
The minimum deposit is $2.500, and all additional options are available to the trader.

To verify the broker’s trading conditions without the risk of losing capital, you can use a free demo account.

Despite the variety of trading accounts, Binarycent is not focused on cooperation with novice traders, so there is an initial high minimum deposit of $250.

Bonuses Paid by the Broker

Welcome bonus.

this is automatically credited to the trader's account after the first deposit and can be used exclusively for trading. But the bonus expires if the trader has not made a fivefold turnover of the first deposit within 3 months. Also, the bonus usage affects the withdrawal procedure: to withdraw cash. You have to make a turnover of 300% of the deposit. You can refuse the welcome bonus by contacting the support service within three days after the account is replenished, but you cannot make any trading transactions during this time.

First 3 risk-free trades.

This bonus allows you to get financial compensation to the trading account if the first three trades are unprofitable. Apply to your account manager and obtain the approval of the conditions from him to participate in the program.

Bonuses from Binarycene
Bonuses from Binarycen

Bonus from Traders Union.

Binarycent’s partnership with the Traders Union allows reducing trading costs because the Union pays compensation in the amount of up to 100% of the spread. Register on the Traders Union website, open an account with a broker using a referral link, and trade as usual to get such a bonus. For each trade executed, the Union shall pay a rebate as compensation of the spread. Rebates are awarded for both profitable and unprofitable trades.

Investment Education Online

Information

The Binarycent broker affords traders with access to an online platform and trading tools, but there are no materials to help a novice trader to understand trading or for a professional to improve their skills. The only way to maximize knowledge is a live video chat with a manager, which is available for all types of accounts, or video tutorials available to registered users.

Information available in the Analysis and Education section
Information not available at Binarycent website
Educational video
Trader's glossary
 
Tutorial articles
 
Webinars and seminars
 
Educational literature for traders

We recommend using a free demo account first to verify your current level of knowledge and broker’s trading conditions.

Security (Protection for Investors)

Information

The Binarycent broker is not accredited or regulated by any of the authorities and that makes trading here risky.

The broker provides for data security through the use of SSL (secure sockets layer) technology, which encrypts customer data and protects it from hacking. The Binarycent broker keeps client funds in a European bank, and also it is verified by the Visa MasterCard Secure Code service. 

👍 Advantages

  • The broker is verified by Visa Inc. and Mastercard Inc.
  • Using network data encryption protects traders' personal information

👎 Disadvantages

  • There are no regulatory authorities
  • No documents confirming the verification from Visa Inc. and Mastercard Inc.

Withdrawal Options and Fees

  • The broker processes trader’s requests for withdrawal of funds instantly; withdrawals via Perfect Money are carried out within an hour. There are no restrictions on the number of withdrawal requests; the minimum withdrawal amount is $50. There is no commission for withdrawals, but it can be charged by the external payment system.

  • You can replenish your account and withdraw money using Visa, Visa Debit, Visa Electron, MasterCard, Maestro bank cards, wire transfer, and electronic payment systems, such as: Neteller, Perfect Money, WebMoney, Bitcoin, Litecoin, Ethereum, Z Cash, Monaro, Bitcoin Cash, Dash, Primecoin, Reddcoin.

  • Financial transactions are carried out instantly using any payment system, except for Perfect Money as these payments are credited to the account within an hour.

  • Replenishment and withdrawals are available in three currencies: USD, EUR, GBP.

  • The user shall verify the account to replenish and withdraw money.

Customer Support Service

Information

The Binarycent support service is available twenty-four/seven and agents are always ready to help or answer your questions. 

👍 Advantages

  • Multilingual support
  • You can get help at any time of day or night
  • You can order a call back from a broker

👎 Disadvantages

  • The broker is not represented on social networks

There are several ways to contact Customer support specialists:

  • call to phone numbers, as indicated on the website;

  • fill out the contact form;

  • use the “recall me” function;

  • by contacting through an online chat line;

You can apply for help from your personal account or directly from the broker's website; it is possible even without registration.

Contacts

Registration address Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960
Official site
Contacts

Review of the Personal Cabinet of Binarycent

Register on the broker's website to start trading with Binarycent. Please find below the bit by bit instruction for Personal Account creating, as well as a tour of it.

1

Open the Traders Union website, follow the referral link to the broker's website and click the Register button to open a real account.

Binarycent Review - Official website
Binarycent Review - Official website
Binarycent Review - Official website
2

Fill in a short form with personal data. It is enough to indicate the full name, phone number, e-mail address, create a password, and click the Next button. Congrats! Now you are registered and have access to your personal account.

Binarycent Review - Registration
Binarycent Review - Registration

The personal account provides the trader with the following opportunities:

3
1. Replenishment. Here you can also withdraw funds and enter a promotional code.
Binarycent Review - Replenishment
Binarycent Review - Replenishment
2. Trading. You can trade directly from here, provided that you have made a minimum deposit.
Binarycent Review - Trading
Binarycent Review - Trading
1. Replenishment. Here you can also withdraw funds and enter a promotional code.
Binarycent Review - Replenishment
Binarycent Review - Replenishment
2. Trading. You can trade directly from here, provided that you have made a minimum deposit.
Binarycent Review - Trading
Binarycent Review - Trading

Moreover, here are the following sections within the personal account:

  • Promotions. Here you can choose which promotions you want to try;

  • Reports. This section includes the history of all your transactions;

  • Settings. You can set up a personal profile, change the password or contact support services;

  • My referrals. This section allows you to track the activity of traders you have invited to Binarycent as a member of the affiliate program.

Tags:

Binarycent binary cent

The Oldest Reviews of the Binarycent

Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.

Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of Binarycent published on the website in 2021 are verified and confirmed by Traders Union as reliable comments by real traders.

I worked with Binarycent for about two months. I can’t say that this is the best binary options broker, but I can’t say anything bad either. Everything is pretty standard with this broker. The payout percentage is average, there are several bonus programs (not very profitable), they have a normal platform for copying transactions. There were no problems with the deposit and withdrawal of money. The affiliate program is generally very good, I even attracted several referrals and received passive income. In general, the broker is normal, but I think there are brokers on the market with more favorable conditions.

Binarycent is a “C” grade broker. On the positive side, I would like to note a quick and hassle-free withdrawal of money. Also, they have a very fast registration and verification procedure. But otherwise, the broker is inferior to its other competitors. The site is very inconvenient and not very functional. There are no analytical and training materials at all, so it will be very difficult for a beginner. The bonus program is very strange and unprofitable. In addition to all this, the trading platform freezes up very much and does not allow normal trading. Technical support takes a very long time to respond and does not always solve the customer’s problems.

This broker has only one goal — to take your money from you. This is done according to a very simple and working scheme. After you have deposited money into your account, you are forcibly given bonuses, which are unrealistic to work out. You start trading, usually at first, is a plus, but as soon as the earnings exceed the invested amount, the platform immediately starts freezing up, and you get some random quotations. After only one or two weeks you can say goodbye to your deposit: after the next freeze up, all your transactions will go into negative territory. Bottom line: don’t mess with Binarycent.

I took a long time to think before opening an account with the Binarycent broker. At first, it was alarming that the broker has a very high start-up capital, as much as $250. But still, I decided to open it. In the first few weeks, I traded very carefully and in small volumes. I earned quite a bit and then blew all the earnings with one transaction after the terminal froze up. After that, I decided to withdraw the money. There were no problems, although as it turned out later, the broker is not controlled in any way, which means that you may never get your money back.

The terminal of the Binarycent broker needs to be improved. Not only does it constantly freeze up and shuts down, but it also has a very limited set of trading tools and indicators. For those assets for which the highest interest on payments is provided, it takes a very long time to open transactions. Also, I noticed that the stated percentage of payments often does not coincide with the real percentage that is paid. In general, the broker is not very good – they have an “I couldn't-care-less” attitude towards their clients. There are better brokers in the binary options market.

I couldn’t make money with Binarycent. I deposited $250 into my account, received bonuses, and started trading. At first, everything seemed to be fine. The first two weeks were small, but I still had a plus deposit. After that, I had a week of good pluses. Then I raised $1,000 in a week. And then the fun began. At one point, the platform crashed and had to be rebooted. As a result, when I reloaded the platform, it turned out that as a result of the glitch, several unprofitable positions were opened, and half of my deposit was blown. I wrote to technical support - no result.

I tried trading with Binarycent about two months ago. To be honest, I have never come across a more terrible broker. It is simply impossible to work on this trading platform. For several hours, I lost connection with the terminal 3-4 times. And when the connection was restored, naturally my transactions were closed in negative territory. I am sure that the broker is deliberately confiscating the deposits of their clients. The technical support is completely incompetent. They could not answer a single question. You won’t be able to make money with Binarycent.

Author of this Review

Binarycent broker’s review prepared by

John Davis

Traders Union Author and Analyst

John Davis is a Financial and Economic Analyst working with the Traders Union since 2016. During this time, he has written more than 100 analytical articles on technical and fundamental analysis, reviews of financial companies and has developed more than 10 proprietary trading systems. John's motto is to help everyone go from a novice to a professional trader.

All information posted on the Traders Union website is based on reliable and objective data. We have combined our 10 years’ experience in the financial sector and the feedback of our customers to provide you with a true picture of the best forex companies in the market. Detailed information about our methodology.

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FAQs

Do reviews by traders influence the Binarycent rating?

Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about Binarycent you need to go to the broker's profile.

How to leave a review about Binarycent on the Traders Union website?

To leave a review about Binarycent, register on the Traders Union website or you can also leave a review through Facebook.

Is it possible to leave a comment about Binarycent on a non-Traders Union client?

Anyone can leave feedback about Binarycent on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.

Why is it more profitable to work with Binarycent through Traders Union?

Because you will receive additional payments from Traders Union every month while all other functions on your chosen trading platform remain the same.