I decided to write this BinaryMate review to give you an idea how you can deduce a bad broker from traders’ complaints. Because not all negative comments are true.
I usually search for days to collect the most important complaints about a binary options broker. That was not necessary for BinaryMate complaints. There are lots of them.
|Headquaters||Scotland / Seychelles|
|Free Demo account||Yes|
|Regulation & licenses||CySEC|
|Accepted nationalities||All countries|
|Expiry Times||30 sec till 1 year|
|Assets||Currencies, Stocks, Indices, Commodities|
|Account Types||Bronze, Silver, Gold|
|Number of Assets||30+|
|Account Currency||USD, EUR, GBP, RUB|
|Mobile Application||Android and IOS|
|Deposit and Withdrawal Options||Paypal, Neteller and Web Money|
|Withdrawal Time||1 hour|
|24 Hours Support||Visa, Mastercard, Bank Wire, Paypal, WebMoney, Neteller|
|Support During Weekends||yes|
|Customer Support Languages||English, Russian, French and Spanish|
BinaryMate complaints all over the web
The most important are the complaints about withdrawal problems.Because what is the point to make some profit if you cannot take the money. And there are lots of them about Binarymate.
Here are some examples:
“Stay Far far away from this website… They will not process your withdrawal under any circumstances. I didn’t accept any bonuses or anything and they banned my account after I requested a withdrawal and sent multiple follow up emails.”
“This place is a joke. I’ve tried 5 times now to make a withdrawal, 5 times I’ve had a different excuse.”
And a really important complaint about Binarymate:
“I lost all my money with them binary mate because i ask for a withdraw i have 1374 in my account they place false trade and ripe out all my money please keep away look here ID Active Call/Put Start Time End time Investment Payout
2005848 EUR/USD Call 17.03.17 05:47 17.03.17 05:48 100.00 USD 0.00 USD
2005844 EUR/USD Call 17.03.17 05:46 17.03.17 05:47 100.00 USD 0.00 USD
2005859 EUR/USD Call 17.03.17 05:47 17.03.17 05:48 100.00 USD 0.00 USD
2005850 EUR/USD Call 17.03.17 05:47 17.03.17 05:48 100.00 USD 0.00 USD
2005845 EUR/USD Call 17.03.17 05:47 17.03.17 05:48 100.00 USD 0.00 USD
2005857 EUR/USD Call 17.03.17 05:47 17.03.17 05:48 100.00 USD 0.00 USD
2005849 EUR/USD Call 17.03.17 05:47 17.03.17 05:48 100.00 USD 0.00 USD
2005858 EUR/USD Call 17.03.17 05:47 17.03.17 05:48 100.00 USD 0.00 USD
2005860 EUR/USD Call 17.03.17 05:47 17.03.17 05:48 100.00 USD 0.00 USD
2005861 EUR/USD Call 17.03.17 05:47 17.03.17 05:48 100.00 USD 0.00 USD
2005862 EUR/USD Call 17.03.17 05:47 17.03.17 05:48 70.00 USD 0.00 USD
2005854 EUR/USD Call 17.03.17 05:47 17.03.17 05:48 100.00 USD 0.00 USD
2005846 EUR/USD Call 17.03.17 05:47 17.03.17 05:48 100.00 USD 0.00 USD
2005852 EUR/USD Call 17.03.17 05:47 17.03.17 05:48 100.00 USD 0.00 USD”
There are many traders claiming that the Binarymate platform manipulates the prices so that they lose the trade.
“SCAM!!! This brokerage claims it is regulated, which is bogus! The market system used on this platform is manipulated so you loose every trade you place. I lost 10 trades in a row, with 8 of the 10 trades ITM… at the last seconds the “market” will jump so you will loose a trade by a few pips”
“They just manipulate the price”
“The webcam managers are lying pieces of crap with no morals”
The last I am going to give you here is a serious one. Because it is not by a trader but by an affiliate.
“I am here as an affiliate and can tell you binarymate doesn’t pay affiliates either. ”
You can draw your own conclusion.
Fake “regulated” badge
As you saw above there is a trader that says “This brokerage claims it is regulated, which is bogus!”. And I think this is true.
There is a badge “Regulated” on Binarymate’s website. But I searched a lot and I did not find any clue that this is a regulated binary options broker.
These were the most important binarymate complaints all over the web. You can leave your comments at the end this post.
Sources for the comments: forexpeacearmy.com,binaryoptionsblacklist.com,binaryoptionsthatsuck.com,pissedconsumer.com
Binarymate is a binary options trading broker I reviewed recently. This broker offers a custom-designed platform that looks great to trade with but comes with many limitations. The limited features, along with some possible upsetting scams make this a company to be cautious of.
Who or what is Binarymate binary broker you ask? I have found no ‘About us’ section in their website. Binarymate is neither registered in any country nor regulated by any regulatory. This is not actually a problem, but adds load to the list of causes why I don’t recommend trading with them.
BinaryMate Trading Platform; Assets, Expiry and Options
As I said, it looks very nice and easy to use the Binarymate’s trading platform. The assets are shown at top of screen in a scroll down menu. You can select from among a list of Stocks, Currencies, Commodities, and Indices. After selecting an asset, the price movement chart of that asset is shown in your platform.
The broker currently offers the different types of options that include standard Call/Put and Short Term options. The platform also offers Double up, Rollover, and Copy Trading features. Anyway, the strike and expiry rates for any asset you select are based on what the “system” (the broker itself actually) offers. They are not based on the real market rate provided by authentic third parties.
Binarymate broker assets list currently includes more than 80 global stocks, 35 forex currencies, 9 commodities, and 37 indices. With the web-based or mobile platform, you can easily access all these trading assets to trade on.
You can experience Binarymate CFD and Binary Options trading on your Smartphone that supports Android or iPhone. Using their mobile platforms you can perform regular CFD and Binary Options trading. You can make a deposit or withdraw profits and do 60 seconds trading. You can also access your account and view the same login as the web-based platform.
Let’s continue with my binarymate review.
BinaryMate Account types
Binarymate trading platform offers three different types of trading accounts. The accounts are not designed by deposit amount, but with the different features.
· Bronze: The basic account for beginners or traders who wants to experiment brokers’ platform. The features of this account types are 24/7 Live video chat support, withdrawals in 1 hour, demo account, and Copy Trading tool.
· Silver: In addition to all the features of the bronze account, Master class (web session) and Personal success manager are the two major features of this account type.
· Gold: All the features are same as Silver account.
BinaryMate Demo account
The broker Binarymate offers a Demo Account (!) for all its customers. However, to access the demo account you have to fund your trading account. Then you have to request your account manager or call to customer support to get the credentials.
I will not waste much time on funding because it’s really easy to fund your money with this broker. It’s the bonuses and withdrawals you need to be wary of and this platform needs some inspection. Because they say, you cannot make a withdrawal request unless you reach a 100% turnover from deposited amount.
On the other hand, if you take the deposit bonus offer, there is another rule for withdrawal. With bonus account, you have to reach 300% turnover from deposited amount if you want to make a withdrawal or get your deposit funds back. I personally don’t like these rules; I can see ‘very deep’ tricks here.
You can fund your account with Binarymate trading using Visa, MasterCard, bitcoin, Altcoins, ethereum, Neteller, Skrill, and Perfect Money. The minimum deposit amount required is $250 only. The broker claims to process your deposit within an hour only.
Binarymate Withdrawal Methods
The minimum amount for withdrawal is $50 only. Binarymate claims to process your withdrawal requests within 1 hour. Withdrawal methods are same as deposit methods. Let’s continue with my binarymate review.
With Binarymate, you can perform CFD trading now. On the top of your trading platform, you’ll be able to choose CFD trading tab. Depending on your market forecasts you can choose BUY or SELL options to perform CFD trading.
The broker offers different types of payouts for different trading assets. Upon clicking on your favorite asset, you’ll see the payouts. However, the maximum payout for Standard call/put option is 85%. The payouts can be up to 95% when you’re trading 60 seconds.
BinaryMate & US Customers
Traders from United States can easily join and trade with this broker. Since this broker is neither registered in any country nor regulated by any governing body, they can accept any people from anywhere.
Better alternative for US customers
You can take a look at my Marketsworld review that accepts US customers and is a far better binary options broker.
Binarymate provides a live video chat support for its customers. You can also request a callback or reach to them via email. The customer support is available for 24/7.
Why is BinaryMate a Scam?
There are several reasons for this broker to be a scam, according to complaints. The reason I made this review of BinaryMate broker is exactly this.
The most important ones you can find them in the Complaints section at the beginning of this post.
As I said before, I haven’t found any “about us” Section.
Regulation is a MUST thing for a financial company so you can trust it and it’s not even much difficult to have one. But this broker failed to avail one. What is this fake “Reagulated” badge?
And there are many price manipulation complaints all over the internet.These are the 2 reasons I am talking about in the title.
I can get over the assets but the expiries will surely keep me from using this broker.
If you receive their “bonus” offer you will also be subject to other stipulations. Because you cannot make a withdrawal request unless you reach 300% turnover from deposited amount. Even the account without bonus is also under the restriction of 100% turnover. But I guess withdrawal should be as flexible as depositing.
If you want the best binary options broker, in my opinion, visit my HighLow broker review.
Binarymate review summary & Your reviews
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Thank you for reading my Binarymate review. Please leave your review if you have tried this broker to help other traders. Do not forget to take a look at my other binary options brokers reviews.