Binarymate Review 2020

Binarymate Rated 3/5
learn more Learn more about IC Markets. Losses can exceed deposits
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Binarymate Guide - Read our In Depth Binarymate Review

This Binarymate review was written by industry experts with over 20 years of financial experience in Binary Options.

Binarymate are an online broker founded in 2013 offering Binary Options trading.

Binarymate are a global broker and have a head office in Malaysia.

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. In our review of Binarymate we breakdown the pros and cons. What Binarymate are able to offer, what countries Binarymate are available in. Who Binarymate are regulated by and more.

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

Benefits of trading with Binarymate

Open Binarymate's Website

Your capital is at risk

At the bottom of this review you can also learn about some pretty good alternatives to Binarymate

With this Binarymate review we hope to help you see if Binarymate is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding Binarymate that will help you get off to a good start in the world of online trading.

Binarymate Review Table of Contents

Binarymate review
What you should know

Binarymate offer one way to trade: Binary Options.

With Binarymate you will need a minimum deposit of $1000. You can sign up for a demo account to acquaint yourself with Binarymate platform.

Binarymate are able to accommodate various levels of traders whether you are experienced or a beginner.


Binarymate review
Are Binarymate safe?

When choosing a broker like Binarymate the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in 2013, and in operation for 7 years Binarymate have a head office in Malaysia.

Binarymate is regulated. This means Binarymate are supervised by and is checked for conduct by the Cyprus Securities and Exchange Commission (CySEC) regulatory bodies.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to Binarymate, this will be honored. If Binarymate violate any regulatory rules their regulated status could be stripped.

Any payments funded to Binarymate accounts by traders are held in a segregated bank account.

For added security Binarymate use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Try creating two accounts when you are working with Binarymate. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

Open a demo account Visit Binarymate

Your capital is at risk

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

How Binarymate as a Company Compare Against Other Brokers

Broker binarymate IC Markets XTB City Index
Year Established 2013 2007 2002 1983
Head Office Malaysia Australia Poland UK
Regulation Cyprus Securities and Exchange Commission (CySEC) Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Monetary Authority of Singapore (MAS)
Used By 10,000+ 60,000+ 200,000+ 14,000+
Negative balance protection Yes Yes Yes
Guaranteed Stop Loss No No Yes
Learn More Visit Binarymate Visit IC Markets Visit XTB Visit City Index
Risk Warning Your capital is at risk Losses can exceed deposits 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. 74% of retail investor accounts lose money when trading CFDs with this provider

Binarymate review
Binarymate Pros and Cons

What we like about Binarymate

  • Used by over 10,000 traders
  • Established in 2013
  • Regulated by Cyprus Securities and Exchange Commission (CySEC)
  • Min. deposit from $1000

What we don't like about Binarymate

Binarymate review
Binarymate Regulation and Licensing in more detail

We have checked and Binarymate is regulated and supervised by reputable organisations. You are able to check every Binarymate supervisory and regulatory body given below. Regulation gives you some recourse for those who have issues with Binarymate. Regulatory authorities protect the traders with things like reimbursement schemes that regain the client's investment in the event the broker becomes insolvent.

The brokerage firms have to comply with a variety of rules and criteria determined by the recognized international authority with the intention to provide secure trading and stay licensed. The whole notion of regulation is to protect Binarymate traders and provide a safe trading environment.

Binarymate is governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the behavior of the brokers and if things go wrong they will take necessary action. Before trading online with a broker such as Binarymate you should be sure they're legitimate online agent.

Binarymate review
Binarymate Fees Explained

  • Binarymate withdrawal fees varies on payment method
  • Binarymate does charge a fee for inactive accounts.
  • Binarymate does charge deposit fees.

Brokers offer state of the art online trading platforms, mobile trading apps, financial research tools and educational resources. For a brokerage to maintain these services and earn revenue as a company, brokers may charge clients various fees.

How Binarymate Fees Compare Against Other Brokers

Broker binarymate IC Markets XTB City Index
Min Deposit 1000 200 0 25
Withdrawal Fees varies No varies Varies
Inactivity Fees No No Yes
Deposit Fees Varies No Varies
CFD Commission Fees Yes Yes 0.0015

Binarymate review
Binarymate Minimum Deposit

Binarymate require a minimum desposit of 1000 GBP/USD when opening an Binarymate trading account.

A minimum deposit is the minimum amount of money required by Binarymate to open a new online brokerage account with them.

Dont be scared off by brokers like Binarymate charging a minimum deposit to open a trading account. Brokers that charge higher minimum deposits often offer additional premium services on there platforms that are not available for free on other platforms.

Brokers that offer lower minimum deposits are generally geared towards a more mainstream audience that do not require some of the more advanced features and research tools.

Brokers that do not charge minimum deposits do so usually to attract new customers. They have to make some way, so transaction commissions and other fees may be higher with a low minimum deposit account.

Brokers that require a larger minimum deposit amount usually offer a greater range of trading features on their platforms. These brokers often have more in depth technical analysis and research tools and better risk management features.

As more and more online trading platforms have entered the market, minimum deposit requirements to open a live trading account have gone down as an increasing number of brokers compete for new clients.

Depending on the type of trading account you opt for some brokers require a minimum deposit as high as 6500 GBP/USD. Some brokers can go as high as 10,000 GBP/USD.

Binarymate review
Binarymate Withdrawal Fees

Binarymate withdrawal fees vary depending on your selected withdrawal payment method.

Each broker has their own specific withdrawal rules on how your funds can be withdrawn from your trading accounts.

This is because each brokerage firm will have different withdrawal methods and each payment provider may have differing transfer processing fees and processing times.

Binarymate for example allow you to withdraw your funds to a Neteller account,

Binarymate review
Binarymate Inactivity Fees

Binarymate does charge a fee for inactive accounts.

An account inactivity fee is a fee charged to the registered brokerage client.

Brokers may have certain trading activity requirements that under the terms and conditions of the accounts, clients may have to fulfill.

If a clients trading account dues not have any buying and selling over a period of time as dictated by the broker an inactivity fee may be due.

Inactivity fees are not specific to online trading accounts. Many financial service companies may charge inactivity fees. Please check on the brokers website and make sure you are aware of and are happy with all the services and fees you may be charged.

If you are no longer using your trading account close it with the brokers customer support. And make sure you have a confirmation that any remaining fees are not due.

Depending on the type of account you have signed up for you can only be charged an inactivity fee under certain circumstances. As part of a brokers regulation they are required to clearly disclose any inactivity fees.

Some brokerage firms may charge inactivity fees as compensation for maintaining your account on their expensive trading platforms, in an attempt to claw back revenue for the lack of commission fees from your trading.

Binarymate review
Binarymate Desposit Fees

Binarymate does charge deposit fees.

Some brokers may charge a fee when you deposit funds from your payment method to your trading account. This is because the payment method which you use to fund your account may accrue a fee. The fee may be a fixed fee when you deposit a specific fiat currency to your account. For example fees are known to be high when depositing funds from a credit card. This is if your broker accepts funding your account via a credit card.

Binarymate review
Binarymate Commission Fees

Binarymate does charge commission on CFD instruments.

A broker may charge a commission fee as a service charge for facilitating the buying and selling of financial assets through your trading account.

A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions.

Commission fees can differ depending on the trading type, financial asset type and what level of trading account you have.

Broker commissions are charged if the brokerage fulfills an order, cancels an order or modifies and order on your behalf.

If a market order is not fulfilled by your brokerage usually no commission is charged.

Be aware that if your order is modified or canceled, your brokerage may charge a commission fee.

Binarymate review
What can you trade with Binarymate?

Be aware that Different entities under Binarymate Brand offer different trading instruments due to regulatory restrictions. Trading instruments offered may differ based on the country of residence of the Client.

You can trade a wide variety of instruments with Binarymate over 54 instruments infact.

If you are looking at trading currency pairs Binarymate offer over currency pairs.

Compare Binarymate with IC Markets and XTB below.

Your capital is at risk

How Binarymate Trading Options Compare Against Other Brokers

Broker binarymate IC Markets XTB City Index
Instruments Available 54 232 1,500 12,500
Platforms Android ,iPhone,Mac,iPade MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac MT4, Mirror Trader, Web Trader, Tablet & Mobile apps MT4, Web Trader, Tablet & Mobile apps
FX / Currencies        
Forex pairs offered 65 50 100
Major Forex pairs Yes Yes Yes Yes
Minor Forex pairs No Yes Yes Yes
Exotic Forex pairs Yes Yes Yes Yes
Cryptocurrencies Yes Yes Yes Yes
Commodity CFDs        
Commodities Offered 0 19 21 26
Metals Yes Yes Yes Yes
Energies Yes Yes Yes Yes
Agricultural Yes Yes Yes Yes
Indiced & Stock CFDs        
Stocks Offered 100 1696 4500
UK Shares Yes No Yes Yes
US Shares No Yes Yes Yes
German Shares No Yes Yes Yes
Japanese Shares No Yes Yes Yes
Risk Warning Visit Binarymate
Your capital is at risk
Visit IC Markets
Losses can exceed deposits
Visit XTB
79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Visit City Index
74% of retail investor accounts lose money when trading CFDs with this provider

Binarymate review
Trading on Binarymate web platforms and other applications

Binarymate offer a user-friendly custom trading platform, available as a browser based web application. If you would rather see a comparison of MT4 brokers, you can so here.

An Binarymate IOS or Android native App on your phone or tablet will Work quicker Than the Avatrade Website on the same device

Binarymate also offer mobile apps, for Android and iOS making it easier to keep an eye on and execute your trades while you’re on the move.

See Binarymate's platforms

Binarymate Trading benefits :

Binarymate Trading Accounts Offered :

  • Demo account
  • Islamic account

Can I try Binarymate before I buy?

Binarymate offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

Your capital is at risk

Binarymate withdrawal and funding methods.

Please note that the list of payment methods below depend on the Binarymate Entity and the Clients Country of Residence.

Binarymate offer the below funding payment methods. learn more about Binarymate

  • Credit cards
  • Neteller
Broker binarymate IC Markets XTB City Index
Bank transfer No Yes Yes Yes
Credit Cards Yes Yes Yes Yes
Paypal No Yes Yes Yes
Skrill No Yes Yes No
Payoneer No No Yes Yes
Neteller Yes Yes Yes No

How can I start trading with Binarymate?

When opening a trading account with Binarymate, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on Binarymate trading platforms here.

Your capital is at risk

Performing trades with Binarymate

Binarymate allow you to execute a minimum of trade of $1. This may vary depending on the account you open. Binarymate allow you to execute a maxium trade of varies.

As a market maker, Binarymate may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically have larger capital and minimum trade requirements. Market makers typically have lower minimum deposit, smaller minimum trades requirements and no commission on trades.

As with most brokers, margin requirements do vary depending on the instruments.

Education resources at Binarymate

To trade effectively with Binarymate, it's important to get a have a good understanding of the Binarymate trading tools and the markets.

Binarymate offer a good selection of educational resources. Spend some time reading up on how the markets and trading works, making active trades, active trading times, and managing risk.

Having an analytical approach may be a good way to approach trading with Binarymate.

Take time to look around the Binarymate platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at Binarymate

Binarymate support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian

Binarymate have a D grade support rating because because sometimes the response was slow or our query wasnt answered. Binarymate less customer support features compared to other brokers like live chat, phone and email support. Live chat support supports a limited amount of Languages. Phone support supports a limited amount of Languages.

Livechat Support at Binarymate

We tested the Binarymate live chat and it works well. We sent messages to Binarymate livechat through their app and website and recieved a response within 20 minutes. Sometimes there was no response.

We tested communicating with Binarymate support in multiple languages in multiple countries. Binarymate where able to resolve our customer issues.

Email Support at Binarymate

Binarymate does not offer Email Support.

Phone Support at Binarymate

We called Binarymate and the call was answered very quickly. The call was answered in less than 5-10 minutes.

The Binarymate phone support team were able to successfuly answer our questions and issues over the phone. We tested the multilingual Binarymate team by calling in varying languages. Binarymate made an effort to make sure our queries were answered.

Overall the phone support from Binarymate was okay.

See how Binarymate Support Compares Against Other Brokers

Broker binarymate IC Markets XTB City Index
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Languages English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish English, Spanish, German, Arabic, Polish, and Chinese
Learn More Visit Binarymate Visit IC Markets Visit XTB Visit City Index
Risk Warning Your capital is at risk Losses can exceed deposits 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. 74% of retail investor accounts lose money when trading CFDs with this provider

What you will need to open an account with Binarymate

As Binarymate is regulated by Cyprus Securities and Exchange Commission (CySEC), every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

Be aware Please kindly note that the expiration date of Proof of address document for different entities under Binarymate Brand may be different.

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 3 minutes or so to complete the account opening process.

While you might be able to explore Binarymate's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with Binarymate you can visit the Binarymate trading platform here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.binarymate.com on 12th August 2018.

Binarymate review
Is Binarymate A Good Broker?

We spent over 3 months examining Binarymate in depth. Although we found some very useful aspects of the Binarymate platform that would be useful to some traders. Overall our feeling is that you would be better served with an alternative Binarymate broker.

  • Binarymate have a good track record of offering Binary Options.
  • Binarymate has a history of over 7 years.
  • Binarymate has a reasonable sized customer support of at least 10.
  • Binarymate are regulated by Cyprus Securities and Exchange Commission (CySEC). This means Binarymate fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
  • Binarymate have regulation from a Tier 1 reputable country.
  • Binarymate has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
  • Binarymate have an international presence in multiple countries. This includes local Binarymate seminars and training.
  • Binarymate are able to hire people from various locations in the world who can better communicate in your local language.

Binarymate Risk Disclaimer

Your capital is at risk

Binarymate review
Binarymate not quite right?

If after reading this Binarymate review, Binarymate does not fulfill your needs check out these Binarymate Alternatives.

Click here to view the best Binarymate Alternatives

We have spent years researching the best alternatives to Binarymate. Click the links below to learn more.

If you feel some of the above Binarymate are not quiet what you are looking for or perhaps you would just like to see some alternatives. See our highly rated list of Binarymate alternatives below.

Binarymate review
Related Binarymate Vs Comparisons

We have covered allot in this Binarymate review, If you want to see how Binarymate compares side by side with other brokers check out our Binarymate Vs pages.

If you would like to see how Binarymate stands up against other brokers you can read some of our Binarymate comparisons below. We compare side by side some of our top rated Binarymate versus comparisons. Read our indepth Binarymate VS pages below.

Binarymate review
BINARYMATE Frequently Asked Questions

Can I try Binarymate before I buy?

Binarymate offer a demo account so you can try the Binarymate platform before you put down a payment. Learn more here

What funding methods do Binarymate accept?

Please note that the list of payment methods below depend on the Binarymate Entity and the Clients Country of Residence.

Binarymate offer the following funding payment methods accept Credit cards, Neteller, among other payment methods.
Learn more here

Your capital is at risk

Is Binarymate safe?

Binarymate are considered safe as they are regulated by and checked for conduct by the Cyprus Securities and Exchange Commission (CySEC). Any payments funded to Binarymate accounts by traders are held in a segregated bank account. For added security Binarymate use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Is Binarymate trading good?

Binarymate is considered good and reputable to trade with. BinarymateBinarymate is used by over Binarymate active traders. Binarymate offers Binary Options trading. Minimum deposit with Binarymate is 1000.

Is Binarymate trading Legit?

Binarymate was founded in Malaysia in 2013. Binarymate has been facilitating trade on the financial markets for over 7 years. Binarymate offers clients Binary Options trading. All funds deposited to Binarymate are held in segregated tier 1 bank accounts for security. Binarymate is regulated by Cyprus Securities and Exchange Commission (CySEC) so can be considered legit.

Is Binarymate a good broker?

Binarymate is overseen by the top tier financial regulators Cyprus Securities and Exchange Commission (CySEC) so can be considered a good broker. Binarymate allows Binary Options trading.

Is Binarymate trustworthy broker?

Binarymate can be considered trustworthy. All money funded to Binarymate is placed into a segregated tier 1 bank account. this means your money in not held by Binarymate directly but a tier 1 bank. The broker has no direct access to your funds so cannot misappropriate your money. Also Binarymate is regulated by Cyprus Securities and Exchange Commission (CySEC).

What is the minimum deposit for Binarymate?

The minimum deposit to trade with Binarymate is 1000.

How long do Binarymate withdrawals take?

Withdrawing money from Binarymate processing time varies but averages 2-5 days.

Is Binarymate regulated?

Binarymate is regulated by Cyprus Securities and Exchange Commission (CySEC).

Is Binarymate a market maker?

Binarymate is a not a market maker. A market maker speeds up trading as a market maker will purchase your stocks and commodities even is a buyer is not lined up.

How can I start trading with Binarymate?

When opening a trading account with Binarymate, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on Binarymate trading platforms here.

Is my money safe with Binarymate?

Binarymate is regulated by Cyprus Securities and Exchange Commission (CySEC). One of the most important criteria for traders when choosing a broker like Binarymate is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to Binarymate, this will be honored. If they violate any regulatory rules their regulated status can be stripped.

Is Binarymate a con?

Binarymate is regulated and well established having been in business for over 7 years. Binarymate is definitely not a con.

Can you make money with Binarymate?

Although traders have had great success with Binarymate. Trading on the financial markets with Binarymate is not a get rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading your chance of success will greatly increase. Never trade with money you cannot afford to lose. Your capital is at risk.

Does Binarymate have fees?

Binarymate withdrawal fees varies on payment method. Binarymate does charge a fee for inactive accounts. Binarymate does charge deposit fees.

When was Binarymate founded?

Binarymate was founded in 2013.

How many people use Binarymate?

Binarymate is used by over 10000 registered traders.

What is Binarymate Headquarters country?

Binarymate has its head quarters office in Malaysia.

Does Binarymate offer negative balance protection?

Binarymate does not offer negative balance protection. With Negative balance protection means traders cannot lose more money than they have deposited.

Does Binarymate offer guaranteed stop loss?

Binarymate does not offer guaranteed stop loss. With guaranteed stop loss protection risk is managed. Traders are guarenteed to close your trade at your specified price. Stop Loss orders are guaranteed only during market hours and under normal trading conditions.

Does Binarymate allow scalping?

Binarymate does not offer scalping.

Does Binarymate allow hedging?

Binarymate does not offer hedging.

Does Binarymate offer CFD trading?

Binarymate does not offer CFD trading.

Does Binarymate offer STP?

Binarymate does not offer STP trading.

How many people use Binarymate?

Binarymate is used by over 10000 traders.

Is Binarymate an ECN broker?

Binarymate does not offer ECN trading.

Does Binarymate offer a demo account?

Binarymate offers a demo account.

Does Binarymate offer an Islamic account?

Binarymate offers a Islamic accounts.

What are the funding methods for Binarymate?

Binarymate accept the following funding methods : Credit cards, Neteller,

Binarymate review written by Andrew Blumer and Mark Hansen

We hope you found our review of the Binarymate brokerage firm useful.

This article was written by our financial editor Mark Hansen and Andrew Blumer.

Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years experience in financial analysis, forecasting, financial modeling idenifying new market opportunities in Stocks, CFD's, Forex and Commodities.

Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible.

Whether you want to trade Forex, Stocks, Commodities or Indices we will help you find the best online broker for you from 400+ brokers for clients based in the UK, Europe, Asia, South Africa and Australia.

Binarymate review written by Mark Hansen of Comparebrokers.co