Binarycent account types
This broker is offering sign up and welcoming bonuses for new clients. The have three account levels, bronze silver and gold with increasing levels of benefits for each. The risk free trades will replace any lost funds with bonus money. As always there are some terms to follow if you take a bonus. The turnover requirement is 20X the bonus with a time limit as well. No withdrawals can be made until the turnover is met, if a withdrawal is made it will cancel the bonus and any profits derived from it.
All accounts are automatically considered for the trading contest which gives out 20 prizes each week. Contest is based on trading volume, win rates and profits and can even be won using the copy trading features. Traders are chosen for their win rates, you can follow as many as you like so long as your account is funded properly.
When you follow a trader you can adjust the trade size from 1 to X the original trade. The company is operating the brand on behalf of the Finance Group Corp. When you first log on you may be dazzled by all there is to offer but a quick tour will soon reveal how advanced this platform is. In the top left of the screen are links to trading tools like economic announcements, chart patterns and technical analysis tips complete with charts.
The main portion of the platform is of course the trading screen itself. The candle format is actually a fully customizable charting package from TradingView similar to what you find on all the top forex websites today. It includes all the technical indicators, drawing tools, time frames and settings you could possibly need. And you can trade right from it.
The asset list is decent but not what we would call flush. There are 10 forex pairs, 2 commodities, 4 stocks and 5 crypto currency pairings. These can be traded Turbo, Intraday or Long Term. The Turbo expiry is 10 to 30 minutes in 1 minute increments for super short term trading.
The Intraday expiry are every hour out to the end of the day for 24 total opportunities each day. Please check the terms and conditions of your card, or call your issuer directly, if you think your issuer or bank may charge you a fee. Any charges issued by the bank or issuer must be disputed directly with them, as Binarycent has no say or input on these fees.
Once a deposit request via bank transfer is submitted, it can take Binarycent up to 3 business days to process the request and verify the funds have been received.
A deposit request via credit, debit card or via e-wallets into a trading account will be processed within 3 hours. From time to time, issuing banks may place security blocks on cards — clients may need to call their bank to have these blocks removed.
The trader can impose self-deposit limits by contacting the Binarycent support team via email payments Binarycent. There is no charge to open or maintain an account at Binarycent. In order for a client to claim funds from a dormant account, closed, blocked or excluded account, one must contact Binarycent by email on payments Binarycent.
If the total of the first three transactions is negative, Binarycent will compensate the loss in the form of bonus and bonus rules will apply. Compensation of risk free trades can not exceed the amount of initial deposit. To use this service, you need to apply for it in advance. Simply contact your account manager and negotiate details. Client can request cancellation of service at any time, in case if there are no trading positions opened.
If trading positions are opened, client has to close it or wait till expiration. All withdrawal requests has to be treated based on standard withdrawal conditions, described in paragraph 1.
Financial instruments — available for trading CFD types as currencies, indexes, stocks, commodities. Balance — amount on the Clients or brokers trading account, not counting floatingprofit or floatingloss. In the Agreement any reference to an individual person shall include corporate entities, unincorporated associations, partnerships and individuals.
Headings and notes in the Agreement are for reference only and shall not affect the contents and interpretation of the Agreement. In the Agreement references to any law shall include references to any statutory modification or re-enactment thereof or to any regulation or order made under such law, statute or enactment or under such a modification or re-enactment.
The price for a given contract is calculated by reference to the price of the relevant underlying financial instrument. For any given CFD, the Company will quote two prices: Prices will be obtained from reputable third-party price feeders and provided by the Company. Prices are updated frequently as the limitations of technology and communication links allow.
The Company ensures that the Client will receive the best price by guaranteeing that the calculation of the quoted prices is made with reference and compared to a range of underlying price providers and data sources. The Company additionally ensures to monitor its Execution Venue s on an ongoing basis and review their performance at least annually to confirm that relevant and competitive pricing is offered.
Please note that despite taking reasonable steps to obtaining best possible results for Clients, the Company is unable to guarantee, when executing orders, that the prices offered will be more favourable that prices that might be available elsewhere. Under certain trading conditions, the Client should note that it may be impossible to execute an Order at their requested price.
In such cases the Company reserves the right to execute the Order at the first available price. Such instances may occur during times of high market volatility and price fluctuations e. In most circumstances, a spread is applied. The spread is dynamic for certain Financial Instruments, and may take into account such factors as liquidity in external markets for the underlying financial instrument and competitive pricing. The Company reserves the right to charge the Client a swap fee of 0. This swap fee can be subject to changes in the future.
The swap fee is calculated as the rounded result of the following formula: In certain circumstances such as increased volatility or illiquidity in relation to the underlying market concerned the Company reserves the right to alter the spreads offered.
The Company reserves the right to, at any time, apply such charges in the future with prior notice to the Client. Should the Company at any period of time decide not to charge any costs, it shall not be construed as a waiver of its rights to apply them in the future. The Company arranges for the execution of Client orders with the Execution Venue, as such, execution may at times be difficult.
The likelihood of execution depends on the availability of the prices of the Execution Venue s. In some instances, it may not be possible to arrange an Order for execution during abnormal market conditions. This can occur, but is not limited to, the following examples: In the event that the Company is unable to proceed with an Order in relation to price or size or any reason, the Order will be executed at the first available price or not executed at all.
The Company does not accept any orders outside of the market hours of the relevant underlying financial instrument. The Company shall proceed to the settlement of all transactions upon execution of such transactions. The CFDs offered by the Company do not involve the delivery of the underlying asset, so they are not settled physically as there would be for example if the Client had bought Shares.
All CFDs are cash settled. All orders are placed in monetary values. The Client is able to place an order as long as they have enough balance in their trading account. If the Client wishes to execute a large Order, in some cases the price may become less favourable. The Company reserves the right to decline an Order in case the size of the Order is large and cannot be filled by the Company. The Company will take all reasonable steps to obtain the best possible result for its Clients.
The Company does not consider the above list exhaustive and the order in which the above factors are presented shall not be taken as priority factor.
Different Types of CFDs: The Company offers the following types of CFDs on its platform:. The Client may give instruction to execute or initiate a trade with the Company by way of:. You are warned that Slippage may occur when trading in CFDs. Slippage is the difference between the expected price of an Order, and the price the Order is actually executed at. Slippage can occur at times of low liquidity or high volatility e. The Company applies a maximum multiplier of 1: After one day, the trader decides to close the position.
To better understand the calculations, the invested capital increased by the percentage move in the market multiplied by the multiplier 0. If the trader had used a lower multiplier both the profit and loss amount in the examples above, would have been smaller as well.
Using a multiplier of 20, the realised profit in the first example would be 1. As it will be explained more in Maintenance Margin section the trader will never lose more that the investment amount of a position. It should be noted that the Company may offer higher multipliers to clients it considers to possess the necessary knowledge, experience and understanding of the high risks involved with trading with leverage.