|BinaryMate is one of the newer binary options brokers that accepts traders from all over the world (even US traders). The broker has the highest payout: 95%.
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Binary Mate is a broker that is registered in the UK. They have been in the game for a relatively short time since the beginning of 2016. They are company that has some of the highest standards in the world.
Even though they are strict, they are still open for trading with US traders. This makes them one of the few companies that can offer services to traders in the USA with no problems at all. We set out to find out if the company was actually worth spending some time and money in. Check out our review of the key parts of the broker right here!
BinaryMate Features, Payouts and Accounts Review
Right off the bat, there is a big bonus that is there to be enjoyed by every single trader working with this broker: video chatting. This is a feature that was introduced as a pioneering part of their customer support program. You can talk to a member of the support team over a video connection at any time (they have 24 hour customer support available to traders).
In addition to this, the maximum returns that can be enjoyed on a normal trade without bonuses is up to 90% which is pretty great. The minimum trade investment for any trade is $1 and the maximum is $10,000 per trade. Different currencies are supported as well including US Dollars, Euros and Sterling Pounds.
The site can be used in conjunction with automatic trading software, or can be configured to be used manually. One of the best special features of this broker is that it has a demo account available as well. This allows you to try the features and the tools of the broker out before you spend any money while working with them.
There are 3 main types of accounts that can be created with Binary Mate:
- Bronze: The bronze account has a minimum requirement for deposits of $250. There is a welcome bonus of 20%. Free access is granted to traders so that you can take advantage of the stellar customer support as well as all of the educational material you need to develop your trading strategies.
- Silver: The initial deposit that is required for you to open a Silver account is $1000. A welcome bonus of 50% is granted to you as well. In addition to this, you are allowed to place 3 risk-free trades that will return your funds to you if you suffer a loss with the trade.
- Gold: A deposit of $3,000 yields a Gold Account. The deposit is given a 100% welcome bonus by the broker itself. A personalized manager is available, and you can pick between receiving some risk free trades or $250 in funds right off the bat.
Security and Licensing
When it comes to security, Binary Mate doesn’t have a license from a financial authority. It makes up for this with a ton of security features. These include SSL encryption protocols on all pages along with the HTTPS badge on everything.
BinaryMate Trading Platform Review
This is where the company truly shines. Unlike most other binary options brokers, Binary Mate has decided not to use a trading software developed by the third party. Instead, they have decided to design, build and maintain their own, proprietary trading platform in-house. This is so that they know exactly what is going on with the platform at all times, allowing them to assure traders of the quality and reliability of their services. The platform is very easy to use and is incredibly simple to learn as well. It can be used by beginner traders and experts alike with a lot of success.
Banking, Payouts and Withdrawals
Deposits and withdrawals can be done in four different currencies. Most of the time, the withdrawals only take about an hour. This is one of the fastest withdrawal times out there. Deposits can be made using banking wire transfers, Visa and Mastercard as well as Amex cards. Other services like Webmoney and Neteller can be used as well.
Overall, this broker is one of the best out there that we have seen. From its global reach to its stellar customer support and the unique trading platform, this is definitely one that we recommend to everyone. It is truly one of a kind, and we can’t wait for our prospective traders to try it out as well.
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BinaryMate Review: Complaints and Lackluster Customer Support
While BinaryMate may boast a unique trading platform and attractive bonuses many traders have reported issues with the company particularly when it comes to customer support and withdrawals.
There have been numerous complaints regarding failed withdrawals and difficulties in recovering funds from the platform.
In addition customers have expressed frustration with the lackluster customer service provided by BinaryMate citing unresponsive and unhelpful representatives.
Despite promoting itself as a regulated broker BinaryMate is not actually regulated and has received regulatory warnings including from France’s AMF.
For those seeking a trustworthy and regulated binary options broker it is recommended to look elsewhere as BinaryMate has proven to be a shady and unreliable choice for many traders.