BinaryMate is a UK based broker in binary options. It is owned by Lenora Impex, which is the company that owns another famous broker called Finpari. The broker is known for being open to traders from all over the world, including the USA. This makes it one of the most popular out there. It also has the unique special feature of being a pioneer in terms of its online support for traders. It has a live video chat feature that made it the first broker in the world to have this feature.
From this to their trading platform that is made by the company itself as well as the free educational resources for traders, this is one of those companies that simply reeks excellence. Check out the detailed review of this broker here to see if it is the right fit for you.
Account Types, Special Features and Bonuses
Opening an account with BinaryMate is very easy indeed. The signup process is short and sweet, and doesn’t require a ton of personal information either. Only one form needs to be filled out, after which traders can make their first deposit.
The minimum deposit for the most basic type of account is just $250, which is on the lower end of the spectrum. This deposit amount opens up the Bronze account for traders. This is the most basic account type, with a 20% welcome bonus. Traders are granted free access to educational material, video chat support and other features.
The silver account is the next tier of trading accounts supported by BinaryMate. It is a common option for the more experienced traders out there. The minimum deposit for this account is $1000. A 50% welcome bonus is given to traders who open this account. There are 3 risk free trades that are also provided to traders. These allow for trades that have a full refund guaranteed in the event of a loss.
Finally, there is the Gold account. This one requires a $5000 minimum deposit to be opened. Traders who open this account get to enjoy the perks and the features of both the other accounts. In addition to this, traders are given a 100% welcome bonus for their deposit. 3 risk free trades are also granted to players, along with a trading protection feature.
All traders also receive access to a demo account for the best practice of strategies before spending real money.
Security and Licensing
Licensing is one of the staples of any brokerage. BinaryMate operates in the UK, so it probably has a license from the FCA. However, we could not find any evidence of international regulatory bodies having licensed this broker. This might be due to their need to supply services to traders in the US as well. Licensed brokers typically can’t allow people in the USA to trade with them because of the different financial regulations in the States.
When it comes to security, the company is excellent. There is HTTPS tagging on all of the pages on the site along with secure SSL encryption for all actions and transactions conducted.
BinaryMate makes use of its own proprietary trading platform. This isn’t available anywhere else. It is well made, easy to use and fun. The options available on this platform include 30 second trades, One Touch, Pair Options, Ladder, ProFollow and Long Term trades. Traders can work with stocks, commodities, indices and currencies on BinaryMate. One of the biggest focuses is the live video chatting. Customer support greets traders upon logging in every single time, so there is no need to go hunting for help with different tasks. Chat support is available to traders 24/7, even on weekends.
The minimum deposit amount is $250 and the minimum trade size is $1. It has fast withdrawals at a minimum of 1 hour. Currencies supported include USD, EUR, GBP and RUB. Visa, Mastercard, Bank Wire and Neteller are all supported, although PayPal is not supported. Deposits and withdrawals are all done very quickly compared to most other sites.
From the fast withdrawals to the easy interface and the support for international traders, BinaryMate is one of our top choices for a great binary options broker, that’s for sure.