Binarycent Scam Test

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Binary Gold Trade review – Comprehensive Scam Test

Binary Gold Trade claims to be a CySEC regulated company that offers binary trading. In this quick Binary Gold Trade review, we will try to reveal all known information about this brokerage.

Is Binary Gold Trade really regulated by CySEC?

We entered in the CySEC register the name “Binary Gold”, “binary gold trade” and similar queries to find out whether Binary gold Trade is regulated by this regulatory body or not. We, however, found no match. It is, therefore, very likely that the company is not regulated by CySEC and they state this information on the website just to look more appealing and trustworthy to their clients.

Binary Gold Trade – Things that seem really odd

There are several things odd with Binary Gold Trade. Here is the main list of them:

  • On the website cannot be found any information where they are located
  • They do not mention that binary trading is prohibited to retail EEA traders
  • Basically, the only page that works is the homepage. Other pages do not work and they redirect us back to the homepage
  • Binary Gold Trade offers deposit bonuses even though they have been banned by CySEC
  • The testimonials are fake and the pictures are stolen from the internet

Is Binary Gold Trade a scam or not?

The company definitely does not look trustworthy to me. It is, however, not up to me to decide whether Binary Gold Trade a is a scam or not. That is up to each reader. There are, however, so many things that question the legitimacy of this broker that I rather do not recommend choosing this company to anyone. Rather trade with brokers that really are regulated by CySEC and not with companies where the only page that works is the homepage.

Average rating of the Binary Gold Trade broker

BinaryCent Review – is binarycent.com scam or good forex broker?

Trading Accounts & Conditions

Account type Minimum deposit Maximum leverage Spread
Standard $250 1:100 1.4 pips

BinaryCent is a hybrid broker offering trading in both forex and binary options on one and the same platform. Besides, it places a focus on cryptocurrencies, which recently enjoy an increasing interest among traders of all sorts.

In the present review we will concentrate on the forex trading aspect of BinaryCent.

BinaryCent Advantages

Wide range of assets available for trade

Whether you are keen on trading FX pairs, CFDs, binary options, cryptocurrencies, BinaryCent has them all. That being said, you can trade in Bitcoin and a number of altcoins both in binary options and in forex mode.

Nice in-house all-in-one platform

The web-based trading solution, provided by BinaryCent is an interesting hybrid (forex and binary) trading platform with nice intuitive interface and a lot of useful features. You can switch from the Forex/CFD to Binary interface and vice versa by selecting one of the links in the top left corner of the platform. Besides, mobile apps for iOS and Android devices are also available.

The Forex/CFD interface is actually quite advanced with charting provided by TradingView, and all the perks that come with it. Here is a preview:

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    Big Sign-up Bonus!

  • Binomo
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    Good Choice For Experienced Traders!

BinaryCent’ Forex/CGD web platform. Click on the image to zoom in.

A lot of payment methods supported

BinaryCent offers its clients a plethora of payment methods. Apart from credit/debit cards, they can use Skrill, Neteller, Perfect Money, and a lot of cryptocurrencies .

BinaryCent Dis ad vantages

Registered offshore, unclear company background

According to the information on its website, BinaryCent is owned by Cent Projects Ltd., which operates on behalf of FGC, “holding financial services license”. However, in the User Agreement we found that the company is actually registered in the Seychelles.

Companies registered offshore are not licensed, nor monitored by a reliable governmental agency and are generally not recommended .

No free demo accounts

This broker offers demo accounts, but you have to open a live one first, which makes no sense. All decent forex brokerages provide the option for free demo accounts, so that traders can taest their services

MetaTrader 4 platform not available

BinaryCent uses its own web platform and does not support the MT4. Many brokers who have developed a trading platform of their own, also offer the MT4, because it is top-rated and most traders prefer to trade on it .

In order to open an account with BinaryCent, one has to deposit at least $250. Such initial investment required is slightly high, considering that this broker is not properly regulated. By comparison, you can start trading with easyMarkets by depositing just $100.

Conclusion

BinaryCent is hybrid broker (forex and binary), that offers plethora of financial instruments for trade, including a lot of digital assets like Bitcoin, Ethereum, Ripple, etc . It obviously tries to ride the cryptocyrrency wave, as it also accepts deposits in many digital coins. Another strong sides of BinaryCent is its advanced web-based platform, however it feels a bit slow, and cannot be compared to the renown MT4.

Despite the above said, BinaryCent is not recommended, because it is not regulated and could be a scam broker. If you are into cryptocurrencies, we suggest that you take a look at the our list of trusted forex brokers that offer trading in Bitcoin and other digital assets.

Here is our recap of BinaryCent:

Rich product portfolio

Advanced proprietary web platform

No free demo accounts

A lot of payment methods

MT4 not supported

Comparatively high initial deposit required

Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

Trading212 is a European broker with an excellent proprietary trading platform, which is now available as an iPhone app as well (we tried it out and we loved it). Trading 212’s customers enjoy fast execution a vast selection of trading instruments.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

Binarycent Scam Test

The bonus will be paid in the currency of your choice, selected upon registration only.

The maximum bonus that can be awarded during any year to client is €/$ 100000, depending on the currency of client account. Binarycent, at its sole discretion, may award additional bonus to client.

Bonuses are optional and will be granted only after client’s confirmation. In case if client by mistake accepted a bonus, he must notify customer support within 3 working days, without making any trading activity and the bonus will be removed from client’s account. More information about bonuses you can find in User Agreement.

When trading CFD, Bonus is used only as an additional margin for order volume increase, as a leverage and can’t be withdrawn.

In case of negative trading results, risk-free trades are compensated in the form of a trading bonus based on bonus provision rules. To use this service, you have to contact your account manager and get a prior confirmation.

You can fund your account by credit cards (VISA/MasterCard), Bank wire transfer, Bitcoin, Ethereum, Litecoin, Altcoins, Neteller, Skrill, Perfect Money.

The funds will be available for trading immediately, once we receive a confirmation from payment system.

    For security reasons, identification of the person is required for all withdrawals, regardless of the withdrawal amount.

The minimum amount allowed for withdrawal is $50.

Binarycent processes all withdrawal requests within 1 hour.

However verification may take longer time, if client didn’t submit all requested documents in time.

If you wish to cancel a withdrawal, please contact customer support as soon as possible. If the funds have not been debited from your trading account, you may be able to cancel the transaction as it may still be in process. However, if the funds have been debited from your trading account, the withdrawal may already have been processed.

Binarycent doesn’t withhold any taxes. However, as a customer, it is your responsibility to follow the taxes requirements in your jurisdiction.

Please email at [email protected] to request closing of your account. You will receive a confirmation when this request will be completed.

CFD – Contract for Difference.

CFD is type of financial asset which helps trader to gain and earn in a continuous way. By predicting the move of a currency, trader can choose to open BUY or SELL contract for any asset.

Binary options are a simple and potentially very profitable way to make money from short term movements on the market. By correctly predicting whether the price of an asset will go up or down, you can get a significant income in a continuous way.

Cryptocurrency is a digital currency, which functioning is based on blockchain techology. Physically currency doesn’t exist, it exist only in virtuality.

The most popular cryptocurrencies are Bitcoin, Ethereum, Litecoin, Dash, Ripple. You can use these currencies to fund and trade.

The minimum deposit amount is 250$ (or €), and the maximum – 50000$ (or €).

There is no need to download something before you can start trading with Binarycent. All you need to do is sign up and add funds into your account and you’ll be ready to start trading.

No, it is free to open an account with Binarycent.

To sign up go to ‘Open an Account’ and enter the required information.
Please make sure the data you submit is correct and up to date.
In the future it will simplify withdrawal process.

To receive demo account access you need to fund your trading account and contact customer support to get an demo account credentials.

To trade binary options, simply fund your account and login into the platform. You will see binary options trading by default.

To start trading, choose CALL or PUT options depending on your forecast.

To start trading CFD, fund your account and login into the platform. On the top you’ll be able to choose CFD trading tab and start trading CFD.

You can choose BUY or SELL options, depending on your market forecasts.

It’s not permitted to trade CFD, if total account loss is exceeding total amount of deposits on the account.

When trading CFD, if balance drops to the level of bonus, an automatic closing of all open trades takes place – Margin call.

Example: You deposited $1000 and got bonus of $1000. If the loss in your account equals to $1000, bonus is automatically withdrawn and open trades are closed.

Bonuses are eligible on all CFD trades and are awarded by Binarycent up to 100%, based on your deposited amount. Bonuses are meant to give a trader an additional margin for maintaining positions and/or to open larger volume positions. With this statement client should understand, that Profit and Loss (PnL) always relates to client’s Net balance, not Bonus amount.

Bonuses awarded by Binarycent are not withdrawable or tradable separately.

The time is displayed based on Greenwich Time (GMT)

You can find payouts for different trading assets in the trading platform, on the right left side.

For example, you will see: EURUSD – 85%. That means if you will open trade with $100 investment, then in case of win you will receive $185 payout – $100 investment return and $85 of profit.

Copy trading service designed for novices and people who want to trade automatically without manual trades.

To get started, you need to fund your account and on the trading platform press Copy trading, then choose trader to copy from.

Margin call is account state when all your open trades will be automatically closed.
Margin call is triggered by 5% margin level (5% from free funds + opened positions margin).
For instance, you have $1000 on your balance and you open several positions.
If your total floating profit/loss will reach -$950 (5% from free funds + opened positions margin), you margin call will be triggered.

You can double up your investment on chosen option. When you double up trade, you will get duplicate position – asset, direction, amount and expiry time will be the same, but open price will differ. New positions will be opened by current market price.

You can move option expiry time on next period (to current expiry time will be added one period).
Following conditions should be complied:

1. Opened position should be out of the money (not in profit).
2. Using rollover your investment amount will be increased on 30%. You need to have enough funds on balance.
3. Till option expiry time remaining >1/4 from chosen period.

1/4 from chosen period.
3. Payout for the option will be calculated by next formula:

Payout before expiry = planned payout * past period coefficient – discount

Past period coefficient – ratio between time from start time till option action time
Discount – 10% from investment amount
If payout before expiry time get negative, then it’s deducted from option investment amount.

–> You can close opened position before its expiry time if the position is in profit on 0.1% or more.

After position is closed, investment will be returned back to your balance.

Copy your tracking link on My Referrals page and share this link everywhere! Give it to your friends, colleagues, post it on your social media pages, blog, everywhere!

You will get 20% back of all deposits of your referred clients!

Example: You have referred one client who deposited $1000. You will get $200 on your referral balance.

Give your link to the one who you want to refer and ask to click the link. Once the client clicked the link, he is automatically assigned to you and all rewards will be credited on your account.

After successful deposit of your client, go to My Referrals page, enter the amount of your referral payout and press SEND.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Education How To Trade!
    Free Demo Account!
    Big Sign-up Bonus!

  • Binomo
    Binomo

    Good Choice For Experienced Traders!

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