Established in 2017, BinaryCent is an online financial trading platform owned by Cent Project Ltd, a Vanuatu-based subsidiary of the Finance Group Corp. With its head office situated in Vanuatu, BinaryCent hopes to draw traders in with the promise of lucrative returns and intuitive trading alternatives. Potential users should exercise caution when using this site, though, since several warning signs need to be taken very seriously.
Website – https://binarycent.com/
Website Availability – Yes
Address – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands
Blacklisted Status – Commodity Futures Trading Commission (CFTC)
Domain Age Information –
- Domain Name: BINARYCENT.COM
- Registry Domain ID: 2039478152_DOMAIN_COM-VRSN
- Registrar WHOIS Server: whois.PublicDomainRegistry.com
- Registrar URL: http://www.publicdomainregistry.com
- Updated Date: 2024-06-12T11:14:06Z
- Creation Date: 2016-07-03T15:45:15Z
- Registry Expiry Date: 2026-07-03T15:45:15Z
Lack of Regulatory Oversight
The absence of any official financial authority regulation of BinaryCent is one of the main issues. Traders run serious risks when they operate without regulatory control. Regulatory agencies are put in place to safeguard investors and ensure honest and open trading. In the absence of such supervision, dealers could be open to unethical behavior and possible exploitation. The fact that BinaryCent is unregulated might also mean that it is not held to the same strict regulations as platforms that are, which would put traders in even more danger.
Transparency Issues
The platform does not provide adequate information about the costs associated with trading, which can significantly affect a trader’s profitability. Traders often rely on this information to make informed decisions, but without clear details, users may find themselves facing unexpected fees and commissions that diminish their potential earnings.
Limited Information for Traders
A significant concern with BinaryCent is the absence of clarity surrounding spreads and commissions. The platform does not provide appropriate information regarding the fees connected with trading, which can severely impair a trader’s profitability. Traders frequently rely on this information to help them make wise decisions, but in the absence of clear information, users could be hit with unanticipated costs and commissions that reduce their prospective profits.
BinaryCent Review Conclusion
In conclusion, while BinaryCent presents itself as a modern online trading platform, the absence of regulatory oversight, transparency issues, and limited information raise significant concerns for potential traders. Users are advised to exercise caution and skepticism when considering trading with BinaryCent, as the risks may outweigh the potential benefits. Always prioritize platforms that are regulated and provide clear, accessible information to safeguard your investments.
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