Choosing the right broker is essential for success. We are going to compare Videforex and Binarycent. Whether you’re a seasoned trader or just starting, knowing the pros and cons of these brokers will help you make an informed decision. In this blog post, we’ll dive deep into key aspects like platform features, deposit and withdrawal methods, customer support, and more. Let’s get started with our comparison of Videforex vs Binarycent.
This table offers a quick, side-by-side comparison of key features between Videforex and Binarycent to help you make an informed decision.
| Feature | Videforex | Binarycent |
|---|---|---|
| Year Established | 2016 | 2017 |
| Minimum Deposit | $250 | $10 |
| Minimum Trade Amount | $1 | $0.10 |
| Trading Instruments | Forex, CFDs, Binary Options, Cryptos | Forex, CFDs, Binary Options, Cryptos |
| Leverage | Up to 1:100 | Up to 1:100 |
| Deposit Methods | Credit/Debit Cards, Cryptos, Bank Transfer | Credit/Debit Cards, Cryptos, Wire |
| Withdrawal Processing Time | Within 1 hour | Within 1 hour |
| Bonuses | Up to 100% on deposit | Up to 100% on deposit |
| Platform Type | Web-based, Mobile | Web-based, Mobile |
| Customer Support | Live Video Chat, 24/7 Support | Live Chat, Phone, Email (24/7) |
| Regulation | Not regulated | Not regulated |
| Mobile Trading | Yes | Yes |
Videforex and Binarycent Overview
Videforex
Videforex is a relatively new player in the online trading market, but it has quickly gained popularity for its user-friendly interface and range of asset classes. The platform offers various trading options, including Forex, CFDs, and binary options. One of its standout features is its live video chat, which allows traders to interact directly with customer service agents, ensuring fast and efficient support.
Binarycent
Binarycent, like Videforex, is a well-known broker that specializes in binary options, Forex, and CFD trading. Launched in 2017, Binarycent focuses on simplicity, making it an excellent option for beginner traders. It also offers unique features like the ability to trade with just a $0.10 minimum, allowing users to start small and scale up their investments as they gain confidence.
Platform and User Interface
Videforex
Videforex offers a web-based platform that is highly intuitive. Its clean layout makes it easy to navigate, even for beginners. The platform supports both desktop and mobile devices, making it convenient for traders who prefer flexibility. A notable feature is the live video chat function, which is accessible directly through the platform. This adds a personalized touch, as traders can communicate face-to-face with customer service agents.
Binarycent
Binarycent’s platform is also web-based and very straightforward, which makes it beginner-friendly. It is designed with simplicity in mind, making it ideal for traders who prefer a no-fuss approach. While Binarycent doesn’t offer live video support like Videforex, it does have 24/7 customer service via live chat and phone, ensuring that traders can still get the help they need quickly.
Trading Instruments and Asset Variety
Videforex
Videforex offers a range of trading instruments, including Forex, commodities, stocks, and cryptocurrencies. With over 100 different assets to choose from, traders have plenty of opportunities to diversify their portfolios. Additionally, Videforex offers leverage up to 1:100, which can help increase potential profits (but also comes with higher risk).
Binarycent
Binarycent also provides access to various asset classes, such as Forex, commodities, indices, and cryptocurrencies. Like Videforex, Binarycent offers high leverage up to 1:100 which is a significant advantage for those who are comfortable with risk. However, it is essential to note that higher leverage also means a greater chance of losses, especially for inexperienced traders.
Minimum Deposit and Withdrawals
Videforex
Videforex has a minimum deposit of $250, which is relatively high compared to other brokers. However, it offers multiple payment options, including credit/debit cards, cryptocurrencies like Bitcoin, and bank transfers. Withdrawals are processed within 1 hour, making it one of the fastest platforms when it comes to cashing out profits.
Binarycent
Binarycent, on the other hand, is more accessible for new traders with a minimum deposit of just $10. It supports various payment methods, including cryptocurrencies, credit/debit cards, and wire transfers. Withdrawals are typically processed within 1 hour, similar to Videforex, which makes it very convenient for traders looking for quick access to their funds.
Bonuses and Promotions
Videforex
Videforex offers a welcome bonus, which can go up to 100% depending on your initial deposit. While bonuses can be enticing, it’s important to read the terms and conditions, as there are often wagering requirements before you can withdraw the bonus funds.
Binarycent
Binarycent also offers bonuses, with up to 100% matched on initial deposits. As with Videforex, traders should carefully review the bonus terms to understand withdrawal conditions. Binarycent’s promotions are especially attractive to new traders looking to start with smaller amounts but aiming to maximize their initial capital.
Customer Support
Videforex
Videforex offers multiple customer support options, including live video chat, which is a unique feature in the online trading space. This personal touch allows for faster resolution of issues and provides a more engaging experience for traders. Additionally, Videforex provides 24/7 support through email and live chat.
Binarycent
Binarycent provides 24/7 customer support through live chat, phone, and email. While it doesn’t offer live video support like Videforex, its customer service is still highly efficient and responsive. Traders can easily reach out to support agents for assistance at any time of the day.
Security and Regulation
Videforex
Videforex is known for its secure platform and employs SSL encryption to protect traders’ data and transactions. However, it is important to note that Videforex is not regulated by any major financial authority, which may be a concern for some traders.
Binarycent
Binarycent is also an unregulated platform, which is common for brokers offering binary options and Forex trading. Despite the lack of regulation, Binarycent has a strong reputation for protecting user data and financial transactions using advanced security measures like SSL encryption.
Mobile Trading
Videforex
Videforex offers a fully functional mobile platform, allowing traders to execute trades and manage their accounts on the go. The mobile interface is user-friendly, and all features available on the desktop version can be accessed via mobile.
Binarycent
Binarycent’s mobile platform is equally efficient and allows users to trade while away from their computers. The mobile app is available for both iOS and Android devices, making it convenient for traders who want flexibility.
Videforex vs Binarycent – Which Is Better?
Both Videforex and Binarycent offer competitive features and are suitable for different types of traders. Videforex stands out with its unique live video support and wide range of asset classes, making it an attractive option for traders who value personalized customer service and asset diversity.
On the other hand, Binarycent is perfect for beginners thanks to its low minimum deposit and simple trading interface. If you’re looking for an affordable entry into online trading, Binarycent is a great choice.
Ultimately, the decision between Videforex and Binarycent comes down to your individual trading needs. If you’re seeking a more personalized experience with robust customer support, Videforex might be the better option. However, if you’re looking for a budget-friendly platform with straightforward features, Binarycent could be the way to go.
Editorial Staff at Chweya is a team of financial experts led by Vincent Nyagaka, with over 9 years of experience in finance, commerce, forex, crypto, and marketing. Started in 2014, Chweya is now among the largest free financial resource sites in the industry and is often referred to as Wikipedia for business.