Binarymate review – Scam or not? – Test of the broker
- Support 24/7
- High bonus available
- Fast account funding
- Return up to 95%
Why does someone want to trade binary options when there is a risk of losing money? That’s because binary options trading is one of the easiest ways of making money. Moreover, this trading is simple to understand and easy to execute. So, it makes sense to trade binary options.
For safely trading binary options, you will need the services of a broker. But which broker should you choose? Well, BinaryMate is the correct answer. This broker offers different account types and trading options.
Furthermore, this trading platform is packed with unique features like it supports mobile trading, offers a demo account, and automatic and manual trading options.
But what are the features of BinaryMate? Is it safe? What are the different trading choices offered by BinaryMate? Well, all the answers to these questions and more are given in this comprehensive review.
What you will read in this Post
What is BinaryMate?
BinaryMate is a reputed trading platform that was founded in 2016. It is one of the few binary options brokers that have received positive early feedback. With its standout features and ultimate advantages, BinaryMate has created a buzz in the trading world.
To start trade with this binary options trading platform, you need to make a small investment of $1.
When trading with BinaryMate, you can expect a maximum payout rate of 90% if your predictions are correct. However, if you have incorrectly speculated the market, you will lose all the amount.
The best thing is that BinaryMate supports live video chat for helping traders. The video chat creates human interaction between broker and trader. And this further increases trust and reliability.
Essential assets offered by BinaryMate
BinaryMate offers more than hundreds of assets to trade. These many asset options are available because this trading platform shares its services with other broker platforms as well. That means you can easily find a familiar asset and start your trade.
The asset options are divided into the following groups.
One of the popular ways you can trade via BinaryMate is by investing in shares. To execute this trading method, you can buy shares of any given company. And then, you can speculate the movement of price direction.
Some of the popular shares you can trade-in through BinaryMate are TATA MOTORS (INDIA), NISSAN, TESCO, HSBC HOLDINGS (LONDON), PHARMA, VODAFONE, NETFLIX, and more.
If you have a good understanding and knowledge of currency, you can trade on different pairs through this trading platform. Moreover, the forex market is more accessible. Thus, BinaryMate can help you make a significant profit.
The common currency pairs you can trade through this options broker are EUR/USD, USD/CAD, AUD/USD FUTURE, EUR/AUD, USD/CHF, Bitcoin/ CNY, Bitcoin/USD, and more.
BinaryMate allows earning money by trading in different indices like DOW (U.S.), DAX (GERMANY), RUSSELL 2000, CAC (FRANCE), ISE 30 (ISTANBUL STOCK EXCHANGE), RTS, and more.
The last asset group you can invest in through BinaryMate is commodities. Here, you get various options for trading like silver, platinum, sugar, oil, gold, oil future, gold future, and more.
Each of these asset groups has its pros and cons. So, it’s better to choose a familiar asset. That’s because then you can easily understand an asset’s price trend. And also, the risk of losing money decreases when trading a known asset.
How to start trade with BinaryMate?
To start trading with BinaryMate, you can visit its website and get yourself registered. Once the registration is done, you will need to make a small deposit of $250. The maximum deposit amount for BinaryMate is $50,000.
Once you have made the minimum deposit, you can start trading by choosing any familiar assets. You can also develop a trading strategy to understand the market volatility and price movement of the commodity you have sold or purchased.
Account types with BinaryMate
Different traders on BinaryMate have distinct goals. That’s why this platform offers three different trading accounts.
These accounts have distinct minimum deposit amounts and offer different advantages. So, based on your interest, goals, budget, and provided features, you can choose any trading account.
The bronze account is the affordable one among all. It needs a minimum deposit of $250. The maximum deposit amount for the bronze account is $1000.
It is the right choice for newbie traders who have little experience in binary options trading.
Once you have made a minimum deposit, you get access to do 24/7 live chats with the customer support team. Besides this, you also get a 20% welcome bonus and demo account to practice trading.
Not to mention, with the bronze account, you can withdraw your winning amount within one hour.
To get silver account access, you can deposit an amount between $1000 to $3000. By paying this amount, you can enjoy all the bronze account features and more.
For starters, a silver account brings you an opportunity to make the first three risk-free moves. That means even if your speculations are incorrect, you won’t lose money. That’s because BinaryMate will compensate for your losses by offering you a bonus.
Moreover, the welcome bonus for a silver account is 50%. You can also get insights into binary options trading through masterclass web sessions.
Gold account is the costliest option among all, but it’s worth every penny. To start trading with a gold account, you need to make a minimum deposit of $3000. The maximum amount you can deposit is $10000.
Once the deposit is made, you can enjoy all the silver account trading benefits and more. This premium BinaryMate account offers a 100% bonus. Besides this, you will get a personal success manager and a Swiss prepaid card.
All the account offers 24/7 live chat feature and option to withdraw within one hour.
Features of BinaryMate
Just like BinaryMate, there are many other trading platforms. However, the exciting features mentioned below sets this broker apart from others.
Ability to trade manually or automatically
With BinaryMate, traders get an opportunity to make automatic trades by using the best tools. Traders can even do all the analysis to trade manually. It depends on the preference.
Since BinaryMate is one of the highly-rated trading platforms, it uses advanced technology to keep its trader’s funds safe.
Access from any Device
If you are trading binary options using BinaryMate, you can do it from any device. That’s because this trading platform has its proprietary software.
BinaryMate is designed in a way so that traders can use it on smartphones, tablets, PC, and Mac. This trading platform’s interface runs smoothly on browsers like Safari, Google Chrome, and more. Additionally, traders can also download the dedicated application of BinaryMate to trade anywhere and anytime.
No Delay in Trading
Even a minute delay in options trading can make you lose a winning trade. But your trade won’t get delayed when you are using BinaryMate.
The innovative software of this platform minimizes delay and makes sure each trade is placed in real-time.
Unlike other binary options trading platforms, this one does not take 3-5 days to withdraw the winning amount. A trader can easily withdraw the amount in just one hour. The minimum amount that a trader can withdraw is $50.
A trader can use Visa, PayPal, MasterCard, American Express, Unipay, and other withdrawal options.
BinaryMate offers a demo account option for newbie traders who wants to practice and understand binary options trading before using real money. Once you have registered with BinaryMate and deposited the minimum amount, you can access this account.
The traders of BinaryMate can take part in the competition that this platform organizes to help the traders make a considerable profit. The contests are available for both beginners and professional traders.
Different rules and terms of each content make them exciting and challenging.
The trade features in BinaryMate are of three types.
If you want to trade multiple times in a short duration of time, you can use turbo trade. It is mainly used by traders who don’t have much time. Turbo trade starts from 30 seconds and lasts up to 30 minutes.
This feature comes in handy when a trader wants to make a considerable profit using a trend or market strategy. Not to mention, a trader can also lose money if the speculations are incorrect.
Long-term trades are the opposite of turbo trades. This trading feature ranges from a week and lasts up to 5 weeks.
Traders using long-term feature gets enough time to analyze the market trends, charts, and price movement of an asset.
This trading feature comes in between turbo trade and long-term trade. Using this feature, you can predict the price of a given commodity for the following day.
To make an intraday trade, you can choose from the 30 available assets that BinaryMate offers.
Advantages of BinaryMate
With its unique features, BinaryMate has set the trend within binary trading platforms. And here are some of the advantages of using this binary options broker.
Trading with BinaryMate can help you gain a considerable profit. That’s because if you have correctly speculated the market, you will get around 90% payout, which is the maximum payout offered by any binary options broker.
With more than hundreds of assets, BinaryMate makes it possible for traders to trade in any familiar asset. Through this trading platform, one can invest in indices, stocks, currencies, and commodities.
Different trade window options
BinaryMate has made trading easy and quick for everyone. It offers different trade window options that start from 30-seconds and can go up to one year.
24/7 Multilingual Support
While trading with BinaryMate, you can reach out to the customer care team if you face any difficulty because they are available 24/7. Also, language won’t be a barrier because this trading platform offers multilingual support.
BinaryMate provides its traders an opportunity to make more money by trading non-stop. That means traders can put their money in binary options, even on weekends.
Additionally, there is less market volatility during weekends. So, traders can keep themselves interested in boring weekends by trading anytime.
Different investment balue
BinaryMate makes it possible to trade using different investment values. That means traders can invest from $1 to $10,000 for making a single trade.
Experienced trader guidance
Whether you are a newbie trader or simply need assistance, the experienced traders of BinaryMate will be there for you. That’s because this platform has made trading under professional trader guidance possible.
Disadvantages of BinaryMate
Just as any other binary options trading platform, this platform also has some disadvantages. Here are a few of them.
While trading binary options with BinaryMate, you might face an issue in withdrawing the winning money. But this is not a significant problem because the issue can get quickly resolved by contacting the customer support team.
Limited trading tools
Like other binary options brokers, this trading platform also does not offer several trading tools. So, a lack of quality trading tools can be an issue.
But to overcome this shortcoming, BinaryMate offers various educational resources like market analysis and trade patterns. Traders can use these tools to understand the market in a better way.
Once you have understood the options market, you can quickly eliminate the risk and increase your profitability.
High chances of loss
Indeed, the turbo trade feature of BinaryMate makes it possible for traders to trade several times in a day, but it also increases high risk. That’s because if speculations are incorrect or if the market fluctuates suddenly, the trader will lose money.
Limitations of BinaryMate
Though this excellent platform comes with impressive features, there are a few limitations as well that you must know.
- This trading platform charges withdrawal fees.
- It does not offer negative balayage protection.
- It does not trade minor forex exchange pairs.
- It doesn’t guarantee stop loss.
Trading choice with BinaryMate
When trading with BinaryMate, you are not limited to using any single kind of trading choice. That’s because this platform offers three different types of options, i.e.,
- 60 Second.
- Standard High/Low.
Traders can use these choices while trading in assets like commodities, currencies, stocks, or indices with BinaryMate.
Education resources at BinaryMate
The innovative trading features have made BinaryMate a reliable platform, but without a proper understanding of the market, one cannot predict the price movement of an asset.
That’s why BinaryMate offers different kinds of educational resources and tools like trade pattern ideas, expert commentaries, and market analysis. Traders can use these resources to understand the options market in a detailed way.
The educational resources also help a trader develop an analytical approach, which further assists them in understanding how BinaryMate works.
Is BinaryMate Safe?
Since BinaryMate is not regulated, safety is the first thing that comes to a trader’s mind. But the best thing is that this trading platform is safe and has received several positive feedbacks.
Even though this options broker is no regulated, its parent company, i.e., Suomen Kerran LP, is legally registered in Scotland.
Indeed a regulatory license could have improved BinaryMate’s position in the market, but this platform is safe to use even without any permit.
Is money safe with BinaryMate?
Any authorized body does not regulate BinaryMate, but that doesn’t mean your money is at risk. When you are trading binary options using this platform, your money is kept securely via Tier 1 bank.
Tier 1 bank is a security level that keeps trader’s capital safe and can withstand any sudden financial loss. That means your invested money is safe with BinaryMate. However, you will lose money if you have wrongly speculated the market.
BinaryMate CFD Trading
BinaryMate makes the option of CFD trading available for traders. So, along with binary options, traders can trade in one more derivative.
With this platform, you can choose any CFD trading. Once the trading tab is selected, you can either sell or buy the asset based on your market analysis.
An inactivity fee is an amount a trader needs to pay when they haven’t traded in a while. There are no standardized inactivity fees amount because it changes from one broker to another.
Along with broker, some financial service companies also charge inactivity fees. Broker agents generally claim the inactivity fee amount.
When trading with BinaryMate, you are required to pay a small inactivity fee depending on the type of account you are trading with.
A deposit fee is an amount a trader needs to pay when depositing money into their trading account from the bank account. Compared to other funding methods, the broker charges high deposit fees when money is deposited using a Credit card.
The best thing is that BinaryMate charges minimal deposit fees. But the fee is not fixed as it gets changed depending on the payment method a trader is using.
A commission fee is an amount that a broker charges for helping traders to buy or sell any given asset. Every broker does not charge the same commission fees because it changes depending on several factors.
The changing factors include different financial asset types, trading types, and types of trading accounts. A broker only charges commission fees once a trade is completed.
An important thing here is that BinaryMate charges the smallest commission fee on the CFD instruments. So, you can trade quickly with BinaryMate without paying huge commission fees.
A withdrawal fee is an amount you need to pay when withdrawing your money from the BinaryMate account. The fees depend on the method that is used to withdraw the money.
The withdrawing fees are not fixed because broker’s charges are based on different currency conversion fees, transfer processing fees, and different processing times.
Using BinaryMate, you can withdraw money through different options like Credit cards, Perfect Money, MasterCard, Bank Wire Transfer, VISA, and more.
Is BinaryMate better than others?
After seeing the advantages and disadvantages of BinaryMate, one can quickly conclude that this options trading platform is reliable. And also, it is better than many other options brokers.
While the most trading platform does not offer three risk-free trading, BinaryMate does. Also, trading platforms generally do not provide live video chat support. However, this platform has made a video chat feature available for traders.
Furthermore, most binary brokers do not allow trading multiple assets, but through BinaryMate, one can trade in various assets.
Frequently asked questions:
What funding methods does BinaryMate use?
When trading binary options using BinaryMate, you can use multiple ways to deposit money in your account. You can use Credit cards, VISA, Neteller, Perfect Money, and other methods.
How is BinaryMate customer service?
BinaryMate offers live chat services for its traders, which are available in five different languages, i.e., English, French, Russian, Spanish, and Thai.
Besides live video chat, BinaryMate also offers a web contact form that you can fill to get detailed answers to all your questions.
Is BinaryMate global?
One thing that has made BinaryMate a better trading broker is its reach. This platform has made its services available in 194 countries. This trading platform has more than 10,000 users throughout the world.
Is BinaryMate a leading broker?
While it is hard to assume that BinaryMate is a leading broker, it is undoubtedly one of the best brokers in the market. That’s because this platform’s high level of security keeps the invested money safe and gives traders peace of mind when they are trading.
Conclusion of my review:
BinaryMate is one of the few binary options brokers that lets a trader trade using different assets. Though the platform is new, it is trusted by several people.
On the pros, BinaryMate offers a fast withdrawal feature with a minimum withdrawal amount of $50. Also, it provides the highest payout and supports live video chat. Moreover, this trading platform offers three different trading account that requires distinct deposit amount.
The biggest drawback of BinaryMate is its high fees because it needs an initial deposit of
$250. But this deposit amount is worth every penny as the platform offers impressive features for making every trading profitable