Binarymate Review Scam Complaint
Scammed by a fraud Broker? Fill the Complaint form below to get help!
Binarymate was established in 2016, this is a new binary broker in the Binary industry. Binarymate is a UK based binary options trader offering trading in various financial assets. Binarymate website and trademark are owned by Affort Projects S.A. The owner company is registered in Seychelles, as according to the information provided on the website of the broker. However, apart of being based in UK the broker holds the financial services license from Vanuatu Financial Services Commission. It is recommended to go through this review before it is already too late.
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About the Binarymate:
Binarymate is an offshore broker that isn’t regulated from an authentic regulation authority. Binarymate offers its clients three types of accounts, that is, Bronze, Silver and Gold, based on the initial deposit. There is no demo account until you become a live account holder with them. The broker provides three trading options, turbo, intraday and long term options for assets like currencies, stocks, indices and commodities. Minimum initial deposit that the broker asks for depends on the type of account client wants to open. It requires $250 for Bronze account, $1000 for Silver account, $3000 for Gold account.
Talking about the minimum bet size that Binarymate provides is $10, which is not too much and standard for the industry. However, some good brokers also provide the option of $1 as minimum bet seize because low minimum bet sizes allow for better risk management. Whereas, the payout percentage with this broker ranges from 70% to 85%, which is also considered average. Binarymate offers its in house web based trading platform, where users can trade in binary options and CFDs. Binarymate offers its clients all type of payment modes from bank wire to popular e-wallets. It also provides the option of payment in cryptocurrencies like Bitcoin, Althcoins and Atherium.
Is Binarymate legit or scam?
Binarymate is a new and offshore registered binary options broker. It doesn’t hold a good reputation in the market because of its failings on the delivery of its claims. The case with Binarymate does not seem very promising because there are a number of client complaints against the broker for withdrawal refusal; its prices don’t match the market direction and many more. There is no doubt that this broker is a scam, registration from Vanuatu costs only $2000 and most of the scammers are registered with them. Hence, keep your money safe from this scam broker.