Binary Mate—a US based binary options is relatively new in the market. The company opened back in June 2016. It’s owned by Affort Projects S.A.. Its office is based in Albert Street, Victoria in Seychelles.
The best thing about Binary Mate is it offers different levels of accounts with lucrative bonus funds and deposit values. Live video support and guaranteed withdrawals make it a lucrative option. The distinguishing features of Binary Mate include—
- Variable trade size
- Minimal trade size is $/€/£1
- Minimal start up deposit is $/€/£250
- Processing time: up to 1 hour
- Prize amount up to $/€/£20,000 in prize pool contests
- Risk-free trade through different accounts
The company offers a demo account for first-time traders so they can try out their trading platform. There are multiple banking options for depositing or withdrawing money—resulting in satisfied customers.
We explored different features of Binary Mate to summarise their key features. Here’s a brief insight into Binary Mate trading features, platform, bonuses and banking methods to help you establish your roots in the trading industry.
Is Binary Mate a Scam?
Besides being a-year-old company, there’s nothing shady about Binary Mate. The company has published its valid address on website. Other than this, you can reach their customer support team on (829) 954 8077. The company is licensed and regulated by CySec Europe. They use SpotOption trading platform and auto trading software designed by BlackBoxRobot.com.
Secondly, their online website receives high traffic, which again certifies their credibility.
Trading Platform, Options & Software Features
Slick, simple and uncomplicated—that’s what Binary Mate’s trading platform is all about. Simplicity is what distinguishes Binary Mate from other trading platforms. Their trading charts include all information about placing trades, including a clear visual/dashed lines and expiry time. The graphs are regularly updated to highlight price changes. Traders can open multiple trades on a single chart.
You can access details on underlying assets and their expiry period using a simple drop down menu. A separate section has been allotted to different trade sizes (top right corner of the website). The bottom right section has been allotted for payouts. Other than these, there’s a sentiment bar for forecasting.
Overall, the trading platform is comprehensible and user-friendly—something that attracts customers at the very first instance.
Types of Digital Trades
- One Touch
- 60 Second and
- Standard Low/High trades
At Binary Mate, traders can trade in limited assets, such as indices, stocks, commodities and currency pairs.
The Uniqueness of its Trading Software
Binary Mate trading software is dynamic in nature, including up-to-date market movements and a private chat window where you can share your queries with expert traders.
Though they offer limited trading options (60 seconds, High/Low and Long-term trading), all information is easily available on the desktop. Users don’t need to download anything—the best feature so far, if you ask us.
Bonus & Promotions
Binary Mate trading accounts are tailored to suit requirements of different investors. Promotions and bonuses vary accordingly. The website offers different ‘sign up packages’ for different accounts:
- Bronze account: Up to 20% bonus (that will be credited after you deposit money into your trading account)
- Silver Account: Up to 50% bonus (on maximum first deposit is up to $$/€/£1000)
- Gold Account: Up to 100% Bonus (on maximum deposit of $/€/£3000)
Don’t forget to check terms and conditions associated with the bonuses.
Mobile App
Luckily, Binary Mate offers an easy-to-use mobile app designed for both iOS and Android platforms. Trading on mobile app is similar to trading on other platforms (the version functions just like any normal desktop browser). To our surprise, the application lets trader execute trades instantly, manage account and access full trade history and charting tools. This puts Binary Mate at a stronger position compared to its rivals.
Account Types on Offer
Bronze, Silver and Gold account types each has a unique set of benefits associated with it. There are specific set of requirements for each of them.
- Bronze account
- Demo account available
- Minimum deposit value is $/€/£250
- Live video chat and quick withdrawals (within an hour)
- Silver Account
- All the aforementioned features available
- First 3 trades are risk-free
- A web session with the masters
- Gold Account
- All benefits available as in case of bronze and silver account
- Personal success manager for guidance
- Swiss prepaid card
- Trading protection cover
The risk-free trades offered by the owners are compensated as trading bonus, if you end up suffering losses. However, there are specific conditions associated with trading protection cover and bonuses (you need to check conditions mentioned in the user agreement before trading).
The maximum turnover associated with each account is 20 times in case of ($$/€/£100,000) and 3 times for regular deposits. All additional deposits must be turned over before you withdraw your winnings.
Payouts
Average payout percent on trades is 90% to 92%. The rates fluctuate based on asset type and expiry period. The rates are better, as compared to their rivals.
The owners boast the swiftest payout processing time in the history—1 hour, which is a plus point for owners. To access the benefits of trade account, users need to complete the verification process to avoid any delays.
The good thing is that website gladly accepts a range of e-wallet services, wire transfers, credit/debit card, web money and cryptocurrency (Bitcoins). You need to withdraw minimum $/€/£50 at a time. Make sure that you’ve thoroughly inspected the turnover requirements before making any withdrawals.
Regulation
All operations fall under the jurisdiction of American court.
Demo Account Details
Binary Mate does offer a demo account, just like other brokerages. However, not much is known about it. You can get complete information on demo account only after you register on their website. It’s something very common because most brokers require you to register on their website before they offer you a demo account.
The downside however is that Binary Mate demo accounts come with restricted trade limits. Each account holder is given virtual funds worth $/€/£250—imaginary money to set your mood in trading. They also conduct binary competitions where you can sharpen your skills before trying your hand at real-time trading.
Countries Available
As of now, the website operates in US, Asia and selected countries only.
Final Verdict
Despite being the new guy in town, Binary Mate is one of the preferred choices of traders around the world, the reason being that it supports multiple languages. Their trading plat form is easily navigable, intuitive and traders are offered 24×7 live support. In case you have any queries, you can check their FAQ section for more details. The only shortcomings are they haven’t listed their license details on their website. Besides there are complicated conditions associated with the bonus. Other than this, the website is a fine choice for traders.