RaptorReady Reviews

Review for BinaryMate.com

Nov 19, 2016,
Registered user

BinaryMate is a bad broker

BinaryMate platform is full of quirks and glitches that will drain your account.

DO NOT place money with them.

- It is recommended to obtain a DEMO account before placing funds with a broker. However, BinaryMate provides DEMOs to live account holders ONLY. That means, you'll learn of the problems when it is already too late. You will not be able to withdraw any of your funds per the rules unless you make a 1x turnover. Don't take chances.

- Actual market direction (as seen in MT4 or NetDania, as well as other sites) aren't reflected in BinaryMate. Their direction is often the opposite of the market.
So, while you think to use your knowledge to trade, loses pile up.

- There is no consistent offer price on their viewing platform. There are three prices shown- a grey-colored customized price FINDER, an orange-colored TICKER price, and a QUOTE price. The orange ticker and the price quote should match- THEY DON'T.
You will never know at which price your trade is being placed.

- INCONSISTENT placement DELAYS. Delays are very frequent, often mysteriously affecting trades of three or more digits!!
Time to place the trades are between 2 seconds to up to a minute.

- Price changes during placement delays. BinaryMate platform doesn't capture the price at which you place the trade- it captures a time (which is being delayed by them). So, by the time THEY CHOOSE to accept your placement, they are selecting the price, NOT YOU. Sorry if you chose CALL or PUT in the opposite direction that benefits them!!

- Automatic log out from account during prime market conditions. Yes, while you are active on the site, they will log you out so that your trades don't place. Don't bother trying to hurry and log back in- you will be rejected repeatedly. Wait 5 minutes, then try again. Surprise! It works.

- Viewing market is a pain:

> Screen slides suddenly to the left again and again. No way to track your trades w/o constant manual readjustment of the viewer using multiple max/min buttons and left/right arrows.
> Trade expiries are shown as pop-ups which litter the viewing screen. Good luck closing them out! Stubborn little stickers.
> Ticker is not matched to the price pointer, so that the graph NEVER represents actual movement of BinaryMate pricing; this is a distinct problem from the price action not matching the market- which it doesn't, also.
> The records of closed/open trades shows only the last five. If you want to see more, you must scroll through additional "pages." However, click those page numbers and watch magically how none appear!
> Responsive, but irresponsible account managers. They have pretty model girls to talk to you about bonuses which will delay withdrawals. Do they know anything about technical issues? NO! That's for the "legal department" which never responds.

BinaryMate is owned by the same parent company as FINPARI, which was recently fined for unethical behavior.
They supposedly use the SpotOption platform, which they have tweaked to horrific proportions.

> Happy Trading! Stay AWAY from this broker!!!