Binary Mate

Binarymate is an online trading platform, operated by Suomen Kerran LP, a company based in Scotland. Binarymate offers its users the opportunity to trade in a variety of different assets, by utilizing different trading instruments. Unlike some of its competition, the website has a much larger barrier to entry, with a minimum deposit of $250.

Binarymate supports a variety of payment services that you can use to fund your account such as eWallets, credit cards, Bitcoin, Wire Transfers, etc. What is really exemplary of this service, is that it guarantees quick withdrawals for its users. Binarymate promises that all withdrawal requests have a maximum pending period of 1 hour. Binarymate does not offer its services to users residing on United States territory.

Regulation

On its main page, Binarymate claims to be regulated, but nowhere on the website or in the terms and conditions, is a government regulatory body of any kind mentioned. The operator Suomen Kerran LP is only mentioned on the Internet as the operator of another trading platform, and aside from the companys number and registration date, not much is known about it.

Binarymate does not appear to have any type of certification from a government body, nor from an independent third-party organization. In essence, Binarymate is completely unregulated. What this means is that there is no government institution to keep the broker in check or conduct audits. If you have a problem with the website and wish to file a complaint, there is no institution to help you solve your issue.

Trading Instruments

At Binarymate you will have several different trading instruments at your disposal. Each focuses on a different aspect of online trading and allows you to trade in various different assets.

Currencies

Foreign exchange trading is one of the most lucrative markets in the world. As it stands currently, forex is the largest liquid market on the planet, with trillions worth of US dollars being exchanged each day. At Binarymate you will have access to many currency pairs to trade as you see fit. Here you can witness the change in price of some of the most used currencies in the world such as USD, AUD, EUR, GBP, etc., and make appropriate trades.

Commodities

Binarymate gives you the option to trade in some of the most sought after commodities on the planet. Traders place a lot of value on precious metals such as gold and silver, and those two, in particular, are very desirable to investors. It is a known fact that in times of financial insecurity many people prefer to place their money in commodities such as the two mentioned above. On Binarymates platform, you can speculate on the price of commodities such as silver and gold.

Cryptos

Cryptocurrencies are an excellent investment for both the long and short term. In the most general sense, cryptocurrencies are currencies that only exist in virtual form. Much like traditional fiat currency, cryptos can be exchanged for other similar currencies or used as a medium of exchange. At Binarymate you can trade in several of the most popular cryptocurrencies on the market, more specifically Bitcoin, Ether, and Litecoin.

Stocks

Company stocks are traded constantly across the world. Owning shares of business is one of the most lucrative investments that can be made currently. As a result, the stock exchange market has a major presence in the world economy. Binarymate allows you to speculate on the prices of some of the largest and most traded companies out there. This includes major businesses such as Lufthansa and Daimler. You try to predict the price change in the short or long term.

Trading Platform

Binarymate features its own proprietary software to run the trading platform. It allows you trade all of the available assets with relative ease. The platform is created with user friendliness in mind. You will have access to detailed graphics, that you can fully customize to fit your needs. You can alternate between candlestick and ticks charts at the click of a button. The software allows you to switch between the three different time limit options – Turbo, Intraday and Long Term.

The Turbo option lets you set the time limit between 1 and 30 minutes, Intraday limits it to hours, while the Long Term option allows you to set the trade time up to a month. Furthermore, the platform displays the profit percentage on each trading instrument and asset, as well as the exact profit from a successful trade in your currency of choice.

You can access the software directly from any computer that is connected to the Internet. The platform is run directly within the window of your browser, making the process painless and easy to get into.

The trading interface can be run in any browser that supports HTML5, which includes all of the commercial ones such as Google Chrome, Opera, Safari, etc. Since the software can be accessed instantly, there is neither the need nor the requirement to download any desktop programs.

Additionally, you can also download the dedicated mobile application available on both iOS and Android. Each app can be found on the respective platform marketplace – the Apple Store for iOS devices, and the Google Play Store for Android ones.

The app is designed in a way to make perfect use of the available screen real estate, while also keeping all of the functionality of the desktop version. You will be able to utilize all of the available trading instruments, as well as have access to each asset.

Account Types

Binarymate has three different account tiers. These are – Bronze, Silver, and Gold. The higher your account standing is, the more benefits you will receive. Your account tier is determined by the amount of money you deposit.

Bronze is the first and most basic account tier. This status is reached when you open an account and deposit between $250 and $1,000. Bronze account holders will get to enjoy live video chat with the support staff, withdrawals with up to 1-hour pending period, as well as a demo account. In order to access trading, the user will need to speak with a support agent who will then manually activate this feature. Demo accounts have $250 to trade with.

Silver is the middle account tier, reserved for users who deposit between $1,000 and $3,000. In addition to the live video chat, demo account and quick withdrawals, Silver account holders can also benefit from a master class web session and 3 risk-free trades.

Gold is the highest account tier and only users who deposit between $3,000 and $50,000 can reach this standing. Gold users can enjoy all of the benefits of the previous two tiers, in addition to having a personal success manager and a Swiss prepaid card.

Support

In the event that you require assistance or need clarification on some issue, you can always turn to Binarymates customer support staff. You have several means of contacting the support agents. One of these methods is the Live Chat system, which you can access by clicking on the button located at the lower right corner of the screen.

This feature allows you to communicate with the representative in real time via chat. What is unique about this website, is that you get a direct live video feed of the employee. This way it feels more personal when you are actually receiving assistance. Response times are quick, with the agent taking no more than a minute to reply to your inquiry.

Another means of communication that is available to you is via telephone. The website features a direct telephone line that you can dial and speak with the support staff. Additionally, Binarymate gives you the option of entering your phone number and having the customer service team call you. This is a good way of avoiding fees for outgoing international calls.

Finally, the last method that is at your disposal is utilizing the ticker system. You can leave a ticket, describing your issue or question as best you can. When the staff is ready to help you, you will receive a response.