It is important that you properly screen binary options brokers before you start trading. Do your homework and select only reputable brokers to ensure your money is safe. In this article, we provide the essential details about BinaryMate including information on their trading platforms, products, customer support, fees, payouts, bonuses, and more. This comprehensive review is sure to give you helpful insights on the reliability and performance of this leading broker. BinaryMate accepts traders from all parts of the world except the US.
BinaryMate is a new player in the industry as it was launched in 2016. The company is owned by Scotland-based Suomen Kerran LP. The broker’s website states that they are regulated, presumably under UK laws. BinaryMate seems to have made an effort to improve its reputation as they have moved from Seychelles to the UK to boost their credibility. Overall, this broker seems to be reliable and is not blacklisted by any of the other major websites that review binary options brokers.
BinaryMate provides a big list of financial instruments and assets that you can select for trading. The number of instruments exceeds 100 which means you can sustain your interest with a varied trading portfolio. Tradable assets are included from a range of indices, FX currencies, commodities, and stocks. While newbies may be daunted by the large number of financial instruments, expert traders are sure to like this environment as they can break free from stifling trading limitations.
Trade types include Long Term, Intraday, and Turbo trading. Turbo trading has expiry times from 60 seconds up to 30 minutes, while for Intraday and Long Term you can set expiry times for days and months in advance. A unique aspect of BinaryMate that sets them apart from other binary options brokers is weekend trading including during off-market times. Admittedly, there is less volatility during the weekends, but this dimension can serve to keep traders interested during boring weekends.
BinaryMate reviews reveal that you can start by investing just $1 and go up to a maximum of $10,000. This range is normal for the industry. In addition, there are no added costs such as commissions and spreads like in FX trading. Refunds and payout depend on market volatility, trade duration, and the asset. Maximum payout rate is 90% for winning trades and you will lose all your money if your prediction turns out to be wrong. So, it is important that you conserve your capital and trade wisely at BinaryMate.
BinaryMate has developed its own web-based trading platform which is feature-rich and attractive. Since it is web-based, you can access it on any internet-ready desktop or mobile device. A unique aspect is the live video chat tool where a dedicated account manager offers 24/7 support. This novel feature allows you to interact with a real human being while trading. The interface clearly displays all the Call and Put options and gives detailed access to the instruments and payouts of the chosen asset. In short, the platform is easy to use and pleasing to the eye.
According to all BinaryMate reviews you can use your tablet or smartphone to access your account via the Web Trader interface. Or you can download the apps for Android and iOS devices. The trading apps provide all the features offered by the desktop platform. Plus, the mobile interfaces are reliable and perform up to expectations.
There are three types of trading accounts: Bronze, Silver, and Gold.
The minimum withdrawal limit is $50 but you need to have 100% rollover in trading volume to make a withdrawal. The average withdrawal time is one hour but may take longer on holidays and weekends. For deposits and withdrawals you can use the following methods: bank wire transfer, PayPal, Alipay, OK Pay,Bitcoin, Yandex money, QIWI WALLET, WebMoney, Perfect Money, JCB, UnionPay, Skrill, and Neteller.
The bonus you get depends on the deposit you make. There is a 20% bonus for deposits up to $1000, 50% bonus for deposits between $1000 to $3000 and 100% bonus for deposits greater than $3000 up to a maximum of $50,000. In addition, Silver and Gold accounts offer three risk-free first trades which boost your chances. However, to withdraw bonus you need to have at least 300% rollover trades.
You can request a demo account and the broker will sanction it on their discretion. The demo account can be used only for a limited period. Make use of it to learn the important features of the trading platform and other useful tools offered by BinaryMate.
As mentioned earlier, you can use the live video chat tool embedded in the trading platform to avail expert assistance while trading. In addition, customer support is also offered 24/7 via phone. Support is provided in English, Thai, Chinese, and Russian with local contact numbers for different countries. You can also use a web contact form on the broker’s website to get detailed support.
BinaryMate offers video tutorials that investors can use to get up to speed with the trading platform and other features. Silver and Gold accounts include personal master class sessions that provide information on markets to traders. However, if you do not trade for 30 successive days you need to cough up an account maintenance/inactivity fee.
To summarize, on the pros side we list fast withdrawals within 1 hour, large number of online and offline payment methods, high bonuses for bigger traders, attractive trading platform, large number of tradable assets and instruments, and top rate customer support via the live video chat tool. On the cons side, the initial deposit amount of $250 seems to be a tad high and the demo account is limited in period and scope. The pros outweigh the negligible cons and you are sure to have fun and excitement and have a fair chance of making good money by trading with BinaryMate.
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