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If low initial deposit is among your top priorities when selecting an online trading platform then you may consider this new option named BinaryCent where you can open a live trading account by only depositing $100…
What significance does the term ‘Cent’ have in the name? Well, it is a plus point for the beginners who don’t want to lose too much during the learning phase. This platform allows you to trade less than a dollar. In simple words, you can place the trades in cents and 1 cent is the lowest possible trade. BinaryCent offers a comprehensive range of digital currencies including but not limited to ZCash, Primecoin, Monero, Reddcoin, Dash, Litecoin, Ethereum, Bitcoin Cash and Bitcoin. The leverage isn’t an option when trading in cryptos.
What makes BinaryCent a promising platform? Is this brand worth your money and effort? How has the platform performed over the years and what’s the legal status in the light of BinaryCent scam alerts, warnings, and complaints? This third-party review will reveal everything you want to know.
If you already know about BinaryCent & you’ve just came here to find out some specific information about them then you can use the quick links below to easily navigate through our in-depth review:
- BinaryCent Background
- Is BinaryCent Regulated?
- BinaryCent Complaints
- BinaryCent Withdrawal
- Is BinaryCent a Scam?
- Our Verdict on BinaryCent
- Scammed By BinaryCent? Get Your Money Back!
- A Much Better (And Legit) Way To Make Money
Finance Group Corp. owns and operates BinaryCent. The problem is that the website itself doesn’t tell us much about Finance Group Corp. We have found that Cent Projects Ltd. initially operated the company.
- Name: BinaryCent
- Owner: Finance Group Corp.
- Year Established: 2016
- Address: 309-310 Office, Albert Street Victoria, Mahe, Seychelles.
- Initial Deposit: $250 minimum
- Minimum Trade Size: 1 Cent
BinaryCent is a custom-built platform. Live Chat and Video Call are available for support. We have realized that the introduction of the video call is just to engage the clients. The reps on the video call are all beautiful girls and we are convinced that this trick is surely helping the platform to flourish.
If you are a serious trader or you want to make a wise decision then certainly the girls on the video call must not distract you. Let’s come to the point!
We have found something really interesting. The website mentions that BinaryCent won the Best Broker Award in 2015 from Fair Binary Options. But the interesting fact is that BinaryCent was introduced in 2016. It looks as if the web developers didn’t even ask for the essential blueprint of the basic details about the platform. The other possibility might be that the developers have used the templates from other brokers. Whatever the reason is, this is a seriously hilarious claim.
To add more fun, the website claims that BinaryCent is regulated by Forex Regulator (some sort of website) and upon investigation, we found that Forex Regulator is not a regulatory authority anywhere in the world. It is a website that serves as a legal assistant to help those who want to claim their money back from the scammers and they charge a heavy fee.
Is BinaryCent Regulated?
Apart from the funny claim mentioned above, there is nothing serious about to justify the transparency of this platform. BinaryCent is NOT regulated. Following are a couple of public warnings issued against this platform.
- 22/06/18 – AMF (France) warned the public against the illegal operations carried out by BinaryCent.
- 18/07/18 – FMA (New Zealand) warned the public against BinaryCent for operating without a license.
Overall, BinaryCent is a seriously funny platform thanks to the claims made on the website, the grammar and the level of English used in the Terms and Conditions, and the claim about the regulation.
You’ll have to turn over your funds before submitting a withdrawal request even if you choose not to accept any bonus. Still, if you want to withdraw without a turnover, you’ll have to pay a 20% fee of the withdrawal amount.
The internet is full of BinaryCent scam complaints. Some of these complaints are reliable. The withdrawals are not processed and the accounts are getting blocked every now and then. Moreover, the Terms and Conditions are frequently changed without even notifying the traders.
The website says that BinaryCent processes the withdrawals in just one hour (again we have something to laugh at). The fact is that the withdrawals take over a week and even the traders get disappointed by the rejected withdrawals.
The minimum amount you can withdraw is 50 currency units. Another funny condition is that you don’t have the choice over withdrawal method. BinaryCent finance team determines the methods and proceeds as it pleases it. It gives us the feeling that the traders’ money is kept hostage by these amazingly surprising terms.
Is BinaryCent a Scam?
There is no license, the claims are hilarious, the withdrawal terms are insane and BinaryCent scam complaints are stacking up by each passing days. All these things are suggestive of a scam artist looking to keep your money and manipulate it in whatever way he likes.
In addition, the website has changed the name of the operating company for a couple of times and it has never presented even the introductory details of any of the mentioned owner.
Our Verdict on BinaryCent
The creators have used a name & low minimum trade size in an attempt to attract a wider audience but the truth is that just like with all of the other scam platforms you must deposit at least $250 in order to get started… So even though the trade size is low the deposit size (and the amount you will lose is no different).
Scammed By BinaryCent? Get Your Money Back!
We’ve come across MANY complaints from people on the web who claim to have fallen victim to the BinaryCent scam & it’s possible that you right now reading this review have also been scammed by BinaryCent too.
If that’s the case then you can rest assured that you’ve landed in a good place because we’ve put together a step-by-step money reclaim guide which is dedicated to helping victims of binary options scams get their money back. The principles of it certainly apply to any scam, but it has been put together with a focus on binary scams especially.
The guide was originally published in 2018 & since then it has helped thousands of people to successfully retrieve their funds from online scams so if you’ve lost money to BinaryCent we know it’ll be able to help you too.
A Much Better (And Legit) Way To Make Money
Clearly BinaryCent itself is another binary options scam, but to be honest we don’t recommend trading in general (even with legitimate brokers) because we believe there are many better ways to make good money online.
It’s a fact that we’ve came across (and exposed) many scams in the make-money space however we’ve also come across many great & legitimate opportunities for making money too.
Out of all of the legitimate opportunities we’ve come across though there has been 1 in particular which has stood out from all of the rest & as a result we have given it the title of our number 1 recommendation for working from home.
You can access our number 1 recommendation for free by clicking the link below: