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BinaryMate - Broker Review and Trader Feedback

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Broker is located in the European Union
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Accepts traders from
United Kingdom
rating
4.3
/ 5
Rating: 5
Reviews: 0
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Established in 2016, BinaryMate is regarded as a new entrant to the binary options trading industry. Despite being the new kid on the block, this broker has been garnering a considerable amount of attention for the online trading community. You might be curious as to why a new broker is able to  draw so much attention from the traders. Here it is, BinaryMate is the first binary options broker that has decided to incorporate a live video feed system for the customer support service is one of these reasons. As a result of this live interaction between traders and the support representative, for the first time many binary options traders are beginning to feel appreciated as a customer and not just treated as another faceless individual behind the computer screen. Full review
Trading conditions
Tradable assets:
Option profitability:
Minimum deposit:
Minimum trade amount:
160
up to 95%
$50
$1
Demo account:
Online registration:
Call support:
Chat with support:
yes
yes
+1-829-9548077
yes
Tradable assets:
160
Option profitability:
up to 95%
Minimum deposit:
$50
Minimum trade amount:
$1
Demo account:
yes
Online registration:
yes
Call support:
+1-829-9548077
Chat with support:
yes
Deposits and Withdrawals
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Review of BinaryMate
Broker rating: 4.4 / 5

1. General Information

A CFD and binary option trading platform that was set up during the first quarter of 2016, BinaryMate is a trademark that belongs to a company called Financial Group Corp (FGC). However, the management and operation of the BinaryMate trademark is done by a separate company, called Suomen Kerran LP, which has its head office is located in Edinburgh, Scotland.

While it may seem that this broker is another typical binary option trading platform, what we found during the course of our review, is that BInaryMate has something that makes it really stand out from all the rest of the binary options trading platforms that we have come across. For once, here is a broker that literally greets you when you log on to your trading account at BinaryMate. This is largely because BinaryMate is the only platform in the entire binary options trading industry that has provided a live video feed of the people that you talk to on live chat, email or telephone.

2. Advantages and Disadvantages

Innovative Live video chat: The live video feed used by the customer support team is a nice touch and sets the broker apart from others in the industry.

Wide range of underlying assets: There is good selection of more than a hundred underlying assets that traders can choose from to trade with.

Easy to use trading platform: The BinaryMate trading platform is specifically designed to be easy to operate and hence requires little or no training at all to start trading.

Multiple choices of trading accounts: Traders at BinaryMate can choose from a total of 3 different types of trading accounts. They include the Bronze account, the Silver account and the Gold account.

Lacks Comprehensive trading tools: The BinaryMate trading platform lacks any advanced tools which traders can use to enhance their trading abilities.

3. Trading Conditions

In terms of trading conditions, this is primarily dependent upon the type of underlying asset that is being traded. While the typical return on investment at BinaryMate is around 80%, it is possible to earn a maximum payout of up to 95% if the conditions in the markets are ripe for the picking.

4. Underlying Assets

In terms of underlying assets that are available for trading at BinaryMate, there is a wide selection to choose from. On offer are 80 different types of stocks, 15 currency pairs, 9 types of commodities and 13 types of market indices. We were pleasantly surprised that a new broker such as BinaryMate was able to offer such a wide diversity in terms of their trading assets. From that, we get the impression that this broker is making a considerable effort in carving a name for itself in the competitive binary trading industry.

5. Trading Platform

Another interesting fact that we noted about BinaryMate is that their trading platform is web based and proprietary. While the majority of binary option brokers would prefer to adopt the genric trading platform which is adopted from a third party solutions provider, BinaryMate has opted to take the less travelled road by developing their own platform.

Overall, the trading platform is well designed hence making it easy to navigate around the platform. Although it lacks many of the advanced and sophisticated tools that we can find on the other platforms used by brokers in the industry, we sense that it is this simplicity which has drawn some traders to trade with BinaryMate. One of the main reasons why binary options trading have been so popular among online retail traders, is the fact that it is a financial vehicle that even novices can understand how to use within minutes of opening an account. Our guess is BinaryMate has intentionally built their trading platform in this manner just to keep things simple.

6. Mobile Trading

Being a client oriented broker, we were not surprised to find that BinaryMate does provide their clients with a mobile version of their web platform. This means that even when you are on the move, you can still keep in touch with all that is happening in the financial markets. Depending on the operating system of the mobile devices that you are using, the trading app can either be downloaded from Google Play Store or Apple’s App Store.

7. Demo Account

There is a demo account facility which potential clients of BinaryMate can access to try out the services offered by the broker. However in order to gain access to the demo account facility, you need to first register with BinaryMate for an account. Once you have registered your details with the broker, only then will you be able to try out the demo account.

8. Account Types

Recognizing the fact that there are different traders with different levels of trading skills, BinaryMate has provided a selection of 3 different types of trading accounts. For beginner traders who are just starting out, there is the Bronze account. This account only requires a minimum deposit of $250 to open and comes with a 20% deposit bonus.

For traders with some trading experience, BinaryMate has provided them with the Silver trading account. The minimum deposit requirement for the Silver account is higher at $1000. As a silver trading account holder, you will be entitled to a 50% deposit bonus once you have funded your trading account. Apart from the higher deposit bonus, silver account holders can also receive extra perks such as “3 Risk Free Trades” and a trading tutorial called “Master Class”.

For VIP traders, BinaryMate has made available the Gold trading account. The Gold account requires a minimum deposit to open and comes with additional benefits such as 100% deposit bonus and the attention of a personal success manager.

9. Opening an Account

Opening your trading account at BinaryMate is quite a straightforward process. First click on the navigational tab labeled “How to Start?” located at the top of the homepage. Next, click on “Open Account” and fill in the registration form. Once you have completed and submitted the form, you will be able to log in to your new trading account.

10. Funds Withdrawal

Withdrawal of funds at BinaryMate can be done through bank wire transfer, major credit cards and eWallets. For withdrawal through bank wire transfer, a $50 fee will be imposed by BinaryMate. In addition, the amount withdrawn must be at least $50. The good news about BinaryMate’s withdrawals is the fact that the broker guarantees that all withdrawal requests will be dealt with, within the hour.

11. Trader’s Training

For the benefit of beginner traders, BinaryMate has also provided them with an educational section that comes with streaming video lessons. These video lessons cover trading basics which are designed to give beginner traders a footing on how to trade binaries.

12. Should I Trade With BinaryMate?

From our observation of BinaryMate during the course of our review of its services, we were quite impressed with what this young broker has to offer to its clients. Apart from a more personalized approach towards handling customer relations through their innovative live video feed system, BinaryMate has also taken the initiative to shorten the processing time of withdrawal requests to just under an hour. Considering the fact that the fastest time that most binary brokers can process a withdrawal request is within one business day, BinaryMate’s 60 minute withdrawal pledge seems light years ahead of the competition. As such, when we take everything into consideration, our conclusion is this broker is most definitely worth trying out.

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