I am in need of some knowledge

ashboiashboi Posts: 1
edited November 2016 in Brokers
I am from the us. I wanted to open an account from binarymate, can anyone share some insite about this broker? Can I trust it?

I also know it's not regulated, and I don't want to trade with nadex because of the platform. Any other brokers I chose from that are trusted and US citizens can join?

Comments

  • OkaneOkane Posts: 1,279 admin
    Looks too "bucket-shoppy". Whichever broker you pick, you need to see where they are licensed and regulated.
    Also check how long they have been in business and whether they have positive comments about them in such forums like here.

    I would not put money with that broker, that I can tell you.
  • buck728buck728 Posts: 3
    ashboi said:

    I am from the us. I wanted to open an account from binarymate, can anyone share some insite about this broker? Can I trust it?

    I also know it's not regulated, and I don't want to trade with nadex because of the platform. Any other brokers I chose from that are trusted and US citizens can join?

    I started an account a few weeks ago. I put $750usd down to test it out. I broke a golden rule before finding this forum.
    I opted for the bonus which brought me to $1500usd. Later reading in the T&C, in order to withdraw any amount a 3x turnaround was needed.
    To add insult to injury, they comission 23% unless you have hit 10x turnover.

    This broker also trades all provided currencies on the weekend as well. 24/7 operation even past market closure.
    I have questioned the always online support chatline. I asked "How is there trading on currencies that close on weekends." She replied, "When markets have excess to trade, they continue through the weekend." I remain a skeptical noob.
    This leads me to believe it is simulated and has a tendency to just barely break even in normal circumstances.

    In other words, I wish I had advice and stuck to the proven brokers outlined on this site.


    "You mean we are building space junk?"
  • KopehnKopehn Posts: 3
    ashboi said:

    I am from the us. I wanted to open an account from binarymate, can anyone share some insite about this broker? Can I trust it?

    I also know it's not regulated, and I don't want to trade with nadex because of the platform. Any other brokers I chose from that are trusted and US citizens can join?

    well... try other brokers that are regulated, there are lots of scammers frontincg to be brokers...
  • OkaneOkane Posts: 1,279 admin
    buck728 said:

    ashboi said:

    I am from the us. I wanted to open an account from binarymate, can anyone share some insite about this broker? Can I trust it?

    I also know it's not regulated, and I don't want to trade with nadex because of the platform. Any other brokers I chose from that are trusted and US citizens can join?

    I started an account a few weeks ago. I put $750usd down to test it out. I broke a golden rule before finding this forum.
    I opted for the bonus which brought me to $1500usd. Later reading in the T&C, in order to withdraw any amount a 3x turnaround was needed.
    To add insult to injury, they comission 23% unless you have hit 10x turnover.

    This broker also trades all provided currencies on the weekend as well. 24/7 operation even past market closure.
    I have questioned the always online support chatline. I asked "How is there trading on currencies that close on weekends." She replied, "When markets have excess to trade, they continue through the weekend." I remain a skeptical noob.
    This leads me to believe it is simulated and has a tendency to just barely break even in normal circumstances.

    In other words, I wish I had advice and stuck to the proven brokers outlined on this site.


    Yes FX is only open 24/5 so not on weekends. Brokers offering trading on weekends are making up BS markets.
    Some are at least honest and tell you it's a computer generated market.
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