Most newcomers are always hesitating on starting their trader road due to the amount of questions arising. What is trading? How is it performed? Can I do it myself? With whom to start? And many others.
The main solution that will resolve all of this is to get to the right broker. This is the key factor, since you will get all the information, details and educational material right from them. This will simply lots of things and will allow you to be on the way to success.
Nowadays there is a lot of different broker companies providing you access to the market. Unfortunately not all of them are trusty enough to start with them. So who is this worthy ones, you would ask.
We can provide you with the answer to this question.
About BinaryCent
Starting from 2017 BinaryCent has been doing its best to provide high-quality service for any grade traders around the globe. This online trading platform has been property of the Cent Project Ltd. company which subsidiary to based in Vanuatu – Finance Group Corp. They also possess one of the leading binary options trading platform under the brand name BinaryMate. The difference between both of them is that BinaryCent provides access to such trading tools as CFDs (Contracts for difference), spot Forex and Options.
Their main dedication is to provide service and/or knowledge to people ready for micro-investment in the market, which allows you getting real experience by risking only small stakes. On top of that, there is availability to participate both with US$ and Cryptocurrency.
Is BinaryCent Legit?
Always, before starting with a broker, you spouse to check it’s legibility in terms of working on the market and how well you are protected while cooperating with them.
By checking BinaryCent webpage we can see that they are operating under the legislation of Vanuatu which provides them availability to provide their services as broker company by local law. Still there is another important factor that should be taken into consideration – broker license. Unfortunately there is no one stated on their web page, so this means that in case they are without one, you won’t be protected under the international regulator authority, but just by the laws of Vanuatu and ones from your own country. For this you will need to check the relations between both of the and to find how you are protected. Nevertheless this makes them good enough for starting, training and getting first experience without investing thousands of $.
How to Work with BinaryCent?
After making the right decision, the question up there is the one that will hit you right away. There is nothing difficult out there, the only thing is that if you are on the US territory, there nothing more to read for you, since this broker does not provide services for the whole USA region. For all others, let’s get it started.
First of all – you don’t need any specific software to start trading, so you can forget about all the drag that many traders had when installing MT4 and than all the required add-ons to get the same service you get here right away. That’s why your very first step for starting is to go on their web and complete the registration. The web is available in 7 languages, so you will surely find the one that fits you. It is simple enough and requires only some basic data as name, e-mail, phone number and currency desired. There is also a promo code field (gets you some extras as f.e. +100% from the deposit amount), but a bit later about that.
After the registration you are launched right away to the platform on you demo account, where you are able to see the software, the instruments and to find out how it works. Better just stay in touch with their manager and ask for educational materials (they have it in vlogs), so you could test all the needed.
Demo account is a bit cut, you get access only like to 15 trading instruments and not all the functions are open, but still good enough to start. After getting the freshman’s intro, it is good to start with the small deposit, to start earning, since at the end of the day, that’s why we are all here.
Before making the first deposit you need to understand how the bonus system works and what are their terms for commission.
In case you receive a bonus, you will need to turn it over 3 time, both the bonus and deposit amount (f.e. $500 deposit + $500 bonus = $3000 to be turned) This is required due to fact that broker earns its % (called spread) on each trade, and if you won’t to do this, they will not get back the bonus provided to you.
As for commission, they are charging from 1% to 5% on each trading transaction depending on the instrument used (CFD, Forex or Option). Plus the swap fee (if trade stays open up to the next day) in amount 0,07%. You can also check all other conditions right here.
Now you are good enough to make the deposit. The minimal one is $250. Als they have three different programs: Bronze, Silver and Gold (can’t all those guys find some better namings already?). Each one has its benefits, you can check them right below. There would be no advice on the account type, since it all depends on your desires and goals, but having master class is very useful for the newcomers.
Trading Platform
Now let’s speak about the trading platform. As already mentioned it is software-free (if using your PC or laptop) and you don’t need to download anything, just click-and-go. It is also mobile friendly, and you can get an app be it iOs or Android (check on each store). This makes it good enough to be tuned all the day without being bound to one place and check the trades and the market all the time.
The trading platform has been specially developed for Financial Group Corp. and is their own property. This explains why it is convenient enough for any trader type.
What is worth mentioning, is that despite being online, they not only provide you with the market chart and the availability to buy/sell, but you also get excess to such tools as fundamental and technical analysis, market news, trade patterns, and an events calendar – all in one place. We could be speaking for long about each instrument, but we are not here for them, just briefly – this is very useful and normally you should get all this from different sources or being calculating all by yourself. This is a big plus.
In all other ways it is same as any other platform with over 50 different assets available, leverage with up to 1:100, stop loss/take profit backup, and different customized settings.
Deposits & Withdrawals
In terms of withdrawal and deposit, there are plenty of methods available, from Visa/MasterCard up to BTC. In terms of cryptocurrency it worthy to mention that there are different options and you are able to do it not only in Bitcoin or Ether, but also with the alt coins as Dash, Lite and others.
In terms of security they trustworthy enough, since 256 bit SSL encryption and 3D secure are both on place. For those who doesn’t know, it is the same as any other legit and protected banking transaction. As for the period it normally takes one day, but there are cases as one stated above, so don’t forget to turn over the indicated amount. Also for withdrawal you will need to provide some documents (listed on the web) for identification, this is normal for every broker, so no worries.
Customer Support
They say it is 24/7, but to be honest, works 100% only with gold accounts. Silver and especially bronze do not get such attention. But still helpful enough most of the time and can resolve your difficulties together with providing an advice or explication.
BinaryCent Promo Code
Here is the promised:
Conclusion
To sum up – this is a great solution for a starter trader, since you get pocket access to the market with all tools in one place and over 50 assets. Allowing you to start trading only from $250 removes the high-loss risks and provides you great experience. On top of that you get educational material and support, so you could feel yourself more comfortable. The transaction security and amount of different methods make it even more convenient and accessible for each and everybody.
But not only there are some pros, cons still are on place. It would be better to get their license on the web, so everyone could check it.
Recommended so far.