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BinaryMate Review - is it scam or safe?

Binary Mate Review - is binarymate.com scam or good binary options broker?

RATING: 1.2 / 0 REVIEWS
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Visit www.BinaryMate.com

 

 

General Information

 

Minimum deposit Min. bet size Payout % Bonus Trading platform
$250 $10 Up to 85% 20%-100% proprietary web

 

BinaryMate is a binary options broker, offering trading in different financial assets on its in-house web-based platform.

 

Trading Accounts

 

Based on the client’s initial deposit, BinaryMate offers several account types:

 

Account type Min. initial deposit Welcome bonus Risk-Free Trades
Bronze $250 20% -
Silver $1 000 50% 3
Gold $3 000 100% 3

 

However, BinaryMate offers demo trading solely to live account holders. That means, if there are any problems, you'll learn about them when it is already too late.

 

The Company. Security of Funds

 

Company

Country

Regulation

Affort Projects S.A.

Seychelles

N/A

 

Launched in 2016, BinaryMate website and trademark are owned by Affort Projects S.A., comany registered in the Seychelles. According to the information on the broker’s website, BinaryMate acts as an agent of Finance Group Corp., holding a financial services license from the Vanuatu Financial Services Commission (VSFC) . 

 

Binary options brokers have increasingly bad reputation lately, as many of them, especially offshore ones and non-licensed and, turn out to be scams. The case with BinaryMate does not seem very promising either: there is an impressive number of client complaints against the broker (refused withdrawals, its prices don’t match the market direction, etc.) and actually behind the brand are two offshore companies.

 

Don’t be fooled by a Vanuatu license – this is just a shiny piece of paper anyone with $2,000 in his pocket can get. This is the minimum capital requirement for forex and binary brokers set by the VSFC. By comparison, CySEC requires at least EUR 730 000 in capital from new brokers, which acts as a deterrent for most scammers.

 

Trading Conditions

 

Trading Options: turbo, intraday and long-term options

Assets:  Currencies, Stocks, Indices, Commodities

Expiry times:  30 sec – 1 month

 

Minimum Initial Deposit

The minimum initial deposit for clients of BinaryMate is $250, which is not that low. Many brokers require less – Grand Capital, for example, demands just $10.

 

Min bet size

The minimum bet size with this broker is $10, which is standard for the industry. By comparison, Grand Capital one can place a trade with just $1. Low minimum bet sizes allow for better risk management.

 

Payout amount

The payout percentage offered by BinaryMate ranges from 70% to 85%, which is also average. In comparison, payout percentage offered by Grand Capital reaches 86%. 

 

Trading Platform

 

BinaryMate uses its proprietary web-based platform, where users can trade in binary options and CFDs. Copy trading services are also available.

 

 

BinaryMate’s proprietary platform. Click to see a larger image.

 

Methods of Payment

 

BinaryMate offers its clients wide range of payment methods: wire transfer, credit/debit cards, Skrill, Neteller, Perfect Money, OKPAY, Qiwi, as well as several cryptocurrencies (Bitcoin, Ethereum, Altcoins).

 

Conclusion

 

BinaryMate is a relatively young binary options broker, registered offshore. The fact that it is not regulated is the main reason why it is not recommended. Besides, its reputation is not good, and we find the type of options offered on its platform rather limited. To sum up the above, here are the advantages and drawbacks in relation to this broker:

 

Pros Cons
Average trading conditions Not regulated
  Bad reputation
  Limited binary options ofered (No One touch, Ladder, Double up, etc.)
  No free demo accounts

 

 

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Price feed

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Traders` reviews for BinaryMate

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