BinaryMate Review – A Must Read Before Trading

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BinaryMate

BinaryMate has rebranded to RaceOption.

BinaryMate offer some unique benefits, including guaranteed withdrawal processing in one hour, and live video support 24 hours a day. The firm offer different levels of account based on deposits and awards both bonus funds, and risk free trades at certain account levels – terms will apply.

  • $1 Minimum Trade
  • $250 Minimum Deposit
  • 1 Hour withdrawal processing
  • $20,000 Prize pool contests

US residents are able to open an account and the firm also offer a demo account for potential new traders to try out the platform. The brand offer a broad range of deposit and withdrawal options – and the 1 hour processing is an interesting offer, suggesting BinaryMate know what might be leaving customers frustrated elsewhere.

Trading Platform

The platform and trading area look slick and uncomplicated. All the choices that traders need to make are simple to reach and easy to use. One of the attractions of binary options is the simplicity in comparison to other trading vehicles – and the trading platform ensures that is maintained here.

The price chart includes the expiry time, with a visual line on the chart, and a dashed line shows when a trade must be placed by. As a trade is placed, it is displayed on the chart, and the graph will update the position as the price changes. Any number of trades can be opened on the same chart.

The trading choices are along the top of the screen, and to the right. The underlying asset and expiry are set at the top of the screen, using simple drop down menus. The trade size is set in the top right of the trading area, and the trading buttons below. They are very clear, with the current strike price shown between them so a trader can see exactly the price they are trading at.

The payout for the particular asset is shown on the right – both the percentage and the potential payout based on the trade size that has been selected. There are also some additional features on the platform, for example charting options and a ‘sentiment’ bar, showing which direction traders are currently forecasting.

The trading area is very easy to use and looks good – it pulls together everything a traders needs, in a tidy, useable way. That clarity then transfers very well to the mobile app, which looks are performs the same.

Trader Choice

3 Types of digital trade are available:

  • Standard High / Low
  • 60 Second
  • One Touch

The choice of underlying assets includes the usual range of currency (forex) pairs, stocks, indices and commodities. The range at BinaryMate is comparable with most leading brands, with all the popular assets listed.

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Payouts reach 90% but will change based on the markets – and the expiry time and specific underlying asset. In general, the payouts with BinaryMate are good, relative to rival firms.

Mobile App

The mobile platform has been designed for both android and iOS (iPhone and iPad_ and takes advantage of the strengths of each operating system. The trading platform, for both web and mobile, was designed with the idea of being the same on any device. So the web version looks and operates exactly the same as the mobile version. This delivers a seamless user experience for traders moving between the two.

The mobile app provides instant execution of trade, but also delivers account management options, and full charting tools. Traders can also list their full trade history on the mobile. It is a very strong offering and has been thoughtfully developed and created.

Withdrawals

The firm boast an industry leading 1 hour processing promise. This is far superior to any comparable firm and is a definite plus point. In order to request a withdrawal, users must have completed the verification process. It is worth doing this as early as possible in order to avoid delays with payments or any disputes.

Withdrawal methods include wire transfer, debit and credit cards, and a full range of e-wallet services, including Paypal, Neteller and Web Money. BinaryMate also accept Bitcoin deposits – a unique selling point for users of the crypto currency. The minimum amount that can be withdrawn is $50.

Paxum

The firm also offer deposits and withdrawals via a new e-wallet provider – Paxum. A new firm, Paxum provide services similar to Paypal and Skrill. So far BinaryMate are the only firm taking payments (and withdrawals) via the Paxum service.

Some bonus terms and conditions will mean turnover requirements are set before any withdrawal can be made. For this reason, it is important to read the terms of any bonus awarded – if the turnover requirements might not be met, then traders can (and should) turn the bonus down.

Contests

There are regular contests where traders can compete with each other for prize pools that total $20,000. The terms and conditions of each contest can vary, but they are open to experienced traders and beginners alike. Some are decided based on number of trades, others on profit or particular assets. They are an interesting feature though, and popular among traders. At least 20 traders win in the contests each and every week.

Demo Account

BinaryMate do offer a demo account, but traders will need to register and discuss a demo with an account manager. There can also be time restrictions on how long the demo account is available. While offering a demo account is obviously a plus, this is one area where the brand could be more customer focussed and offer an unlimited demo in order to show their platform to a wider audience.

BinaryMate Review

BinaryMate

Broker BinaryMate
US Traders Accepted
Company Name NORSKE INTER LP.
Headquarters Scotland
Regulation No
Bonus Type Match bonus
Bonus Size 100%
Max Payout 95%
Out-of-Money Reward 0%
Trading Platform BinaryMate
Deposit Options Credit/debit cards, bank transfer, WebMoney, Neteller, Perfect Money, Bitcoin, Litecoin, Ethereum Skrill
Deposit Currencies US dollar, euro, Bitcoin, Litecoin, Ethereum
Minimum Deposit $250
Minimum Trade $1
Maximum Trade $1,500
Online Since 2020
Trading Instruments Currencies, stocks, commodities, cryptocurrencies
Number of Trading Instruments 47
Binary Option Types High/Low
Customer Support Types Phone/call-back, live video chat, email
Education Offered Webinars
Tools Offered Live chat in trading platform, 3 risk-free trades, Swiss prepaid card, personal success manager, advanced platform with indicators and trade ideas.
Commission $50 minimum withdrawal threshold. Reach 100% turnover to withdraw without a bonus, 300% with one. $50 fee for bank transfers. For all other transfers without a bonus, 1% or $20, whichever is larger. With a bonus, 3.5% or $20, whichever is larger. If you try to withdraw before meeting the turnover, you pay an additional 20% fee.
Languages English
Demo Account Yes, no limits.

The vast majority of binary options websites are white label SpotOption brokers, meaning they all use the same platform and provide more or less the same product. But one which is quite distinctive is BinaryMate. BinaryMate has its own proprietary platform. The most unique feature on that platform is the opportunity to chat with an account manager at any time. In every case, the account manager is a beautiful woman — and you get to watch her live through the video feed while you are trading.

Is this a gimmick? Technically yes, of course it is. Whether or not it has value is something you will have to decide for yourself. BinaryMate’s account managers appeal to the same crowd who enjoy gambling at live casinos online with beautiful dealers. If you play at live casinos, you probably will also like BinaryMate.

How does BinaryMate hold up in regards to other features? It turns out to be a mix of very good and very bad.

Flexible Bonuses But High Fees

There are three account types available on BinaryMate:

All three come with a demo account — which is great.

The account page is pretty nifty in itself; there is a slider which you can drag to see the features and benefits based on your deposit amount.

Two common account currencies are available: euro and US dollar. Traders may choose to keep accounts in one of the major cryptocurrencies. Deposit in your account via credit or debit card, bank transfer, QIWI OKPAY, Payoneer, Perfect Money, WebMoney, Neteller, Skrill, Bitcoin, Litecoin, and Ethereum.

This site gives out massive bonuses — up to 100% on amounts as high as $50,000. The good news is that you can accept or reject a bonus as suits you. Many other websites require you to accept a bonus in order to trade, which can cause problems when it comes time to withdraw your money.

The bad news is that no matter what you do, the withdrawal fees and restrictions are pretty dicey:

  • $50 minimum withdrawal threshold

If you accept a bonus:

  • You must meet a turnover requirement of 300%, or pay a 20% processing fee.
  • If you do meet the turnover requirement, you will still pay a fee of 3.5% or $20, whichever is higher. This is true for all withdrawal methods except for bank transfers, which command a $50 fee.

If you do not accept a bonus:

  • You must meet a turnover requirement of 100%, or pay a 20% processing fee.
  • If you do meet the turnover requirement, you will still pay a fee of 1% or $20, whichever is higher. This is true for all withdrawal methods except for bank transfers, which command a $50 fee.

There is no denying that those are some hefty fees! The only upshot here is that the 300% turnover requirement is only to 3x the amount of your deposit + the bonus, which is actually stupendously low compared to the average — which is closer to 30x.

Awesome Trading Tools

When you first click into the trading platform, you will notice that it is very different from most. The standout feature which will instantly grab your attention is of course the live video feed. There you can see your account manager. You can address her in the chat window underneath at any time while you are trading. You can trade on BinaryMate on your desktop or laptop.

Another big drawback with BinaryMate is the lack of variety in trading. There is only a single trade type: High/Low. There are no features to control your trades (Early Close, etc.). You can trade currencies, commodities, stocks (no indices), and cryptocurrencies (Bitcoin, Ethereum, and Litecoin). Only 47 trading instruments are available.

So what is there to get excited about here (aside from lovely account managers)? It turns out that this is actually quite an advanced platform. You can add a ton of different indicators to your charts to plan your trades, and you can expand the charts to fill your entire screen.

If you click around, you will also discover another cool feature: suggested trades. The team at BinaryMate regularly uploads trade ideas and posts them in the platform where you can view them, read the analysis, and decide whether to use them. This is provided entirely for free. It is not the same thing as a signal service (because you need to log in and view the data manually), but it is an excellent addition to the site (assuming of course the trades are effective).

Customer Service

While I was checking out the demo platform, I had a few questions and asked them in the chat window. The account manager answered quickly in each case. How helpful was she? Well, she didn’t seem to entirely understand my questions – so no, these women are not expert traders. You should definitely not be relying on them for educational advice about trade decisions.

But she did do her best to answer my questions, and in most cases managed to do so, however indirectly. There is also a telephone line you can call. You have the option to request a callback as well.

Conclusion: BinaryMate Has High Fees But Some Cool Features

The biggest drawback with BinaryMate appears to be their fees. That said, if you are planning to accept a bonus, BinaryMate actually has fewer strings attached than most sites. But you will pay a significant fee for every one of your withdrawals. Think about it. If you deposit $250, and you try to withdraw that amount, you will pay nearly 10% in fees.

There are a lot of cool, unusual, and fun features on BinaryMate, however. If the video chat with the attractive account managers is something you enjoy, it can be a great feature. If you are a little more serious about your trading, you should find the trade ideas and the charting tools available in the proprietary platform quite helpful. So while BinaryMate has advantages and disadvantages, we can cautiously recommend it to those who do not mind the fees.

BinaryMate , 1.5 out of 10 based on 4 ratings

7 Binary Options

Binarymate is a UK registered binary options broker who started trading in 2020. They have chosen to be regulated by the UK and adhere to some of the strictest financial regulations in the world as this allows them to offer their services to traders across the world; even US traders can access their software and sign up for an account.

This broker is the first to bring an exciting new feature to the market: live video chat. This will allow you to see and speak to a member of the customer support team at any time of the day or night.
They have also opted to design and build their own unique in-house trading platform. The main reason behind this decision was to ensure they could offer the best possible service in terms of performance, quality and reliability. This new approach appears to be working as they are already gaining popularity and building a good customer following.

An additional incentive to use Binarymate lies in the fact they offer free educational material to all their traders. Whether you need help from one of their market experts or simply wish to study the extensive range of fundamental analysis information; you can do so for free. Other trading tools include technical analysis, trade patterns and access to all the latest news from the markets. There is even a section which will provide you with trade ideas.

Basic information:

Online since: 2020
Jurisdiction: United Kingdom
Software: In-house unique platform
Max Returns: 90%
Bonus: 100% + $250 Welcome Bonus
Minimum Deposit: $250
Minimum Investment: $1
Maximum Investment: $10000
Currencies: USD, EUR, GBP, RUB
Mobile: No
Countries: All nations

  • Accepts traders from all over the world, including the US
  • Your funds can be withdrawn in an industry leading one hour
  • All new Live video chat feature available 24/7 and unique to this broker!
  • Free money and market management tools
  • Weekend trading
  • Exceptionally high deposit bonus and the highest returns rate in the industry
  • Exceptionally small minimum trade of just $1
  • Well designed and easy to use platform
  • Demo account – to get you started in trading or improve your techniques
  • Supports English, Russian, French and Spanish
  • The site can be used for manual trades or aligned with automated trading software to ensure you get the most from the software.
  • Doesn`t have mobile trading yet

7 Binary Options Rating:

Trading Options

You can trade in all the usual options; there is an excellent range of stocks and the most popular currencies as well as the possibility to trade on the commodities market and with indices.

Trades vary in length from the shortest at thirty or sixty seconds right through to one year; you choose the trade depending upon the results you hope to get; one year is a long time to commit to a trade!

Almost all trades have the option to be closed early if you feel the need to; this is one way in which you can ensure that you do not lose all your investment. Binarymate offers an industry leading 90% rate of return on investments and you can trade from as little as $1; the maximum trade is $10,000.

Opening an account requires the completion of a simple form and the deposit of your first funds; the minimum which can be deposited is $250 to open an account.

There are three different account types:

  1. Bronze – Minimum deposit of only $250 with a twenty percent welcome bonus. You will also get free access to all educational material and video support.
  2. Silver – This requires a higher deposit of at least $1,000 and gives a fifty percent welcome bonus. You can also benefit from three trades which are known as risk-free; your funds will be returned if you do not make a return on your investment.
  3. Gold – The top level account requires a $3,000 deposit which is matched by Binarymate. It also gives you a dedicated manager and the option to choose between risk-free trades or an additional $250 of funds.

Screenshot

Finance

Funds can be deposited in a variety of currencies, including GBP, EUR, USD and RUB. The withdrawal service is just one hour and is currently the fastest in the industry. Funds can be deposited via any of the main bank card schemes, MasterCard and Visa are the most popular although AMEX is also accepted.

You may prefer to transfer via wire transfer or even through one of the digital options such as Webmoney or Neteller.

Customer Service

This is exceptional! The live video chat brings a whole new dimension to the support you receive. You can choose to have a public live chat or a private one, depending on which you prefer and the secrecy of your intended transactions. The support staff are available all day, every day and are keen to help you resolve any issues.

They all have a good understanding of binary options and can navigate you through the options or around the website if needed. Binarymate does offer a fast response via email if you prefer to contact them this way. Their dedicated email address is [email protected] Some questions can be answered by simply visiting their website and looking at the FAQ page.

Summary

Binarymate is a UK registered broker with tough regulatory body providing services for traders all over the world.

Their platform is in-house built to support the highest of expectations regarding performance, speed and reliability making Binarymate one of the top brokers in the binary options industry.

Along with the many advantages that the platform provides, their unique face to face live chat support makes them the only broker to support video conversations with their competent and friendly team.

You can choose from numerous types of accounts and minimize your risks by trading with the minimum of $1 trades and up to $10,000 per trade.

When it comes to withdrawals, Binarymate beats all other brokers once again – 1 hour withdrawal time. No more waiting for a withdrawal to be approved for days. They will make sure that your request is dealt with within the hour.

Overall, Binarymate is one of the top and in many aspects the leading broker in the Binary Option World, with many benefits and in-house built platform to make sure your experience is pleasant and, what is more important, profitable.

Additional information

Customer Service: Live Chat / Email: [email protected] / Callback
Languages: English, Russian, French and Spanish
Trading Options: High / Low, One Touch, 60seconds, Long Term, Pair Options, Ladder Options, ProFollow
Assets: Currencies, Stocks, Indices, Commodities
Early close: Yes
Expiry Times: 30 sec till 1 year
Deposits and Withdrawals: Visa, Mastercard, Bank Wire, Paypal, WebMoney, Neteller
Withdrawal Time: 1 hour
Demo account: Yes

7 Binary Options review: Binarymate : 5 stars.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker 2020!
    Free Trading Education!
    Free Demo Account!
    Perfect for Beginners!

  • Binomo
    Binomo

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