Binary Mate
Forex.com
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Overview
Binary Mate was founded in 2013 and is headquartered in Malaysia, while Forex.com was established in 2001 and is based in United States. Binary Mate holds licences including Cyprus Securities and Exchange Commission (CySEC), while Forex.com is regulated by Financial Conduct Authority (FCA) among others. Binary Mate serves 10,000+ clients worldwide; Forex.com has 150,000+. The minimum deposit is $1000 at Binary Mate and Typical at Forex.com.
| Feature | Binary Mate | Forex.com |
|---|---|---|
| Min. Deposit | $1000 | Typical |
| Regulation | Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Cayman Islands Monetary Authority (CIMA), Investment Industry Regulatory Organization of Canada (IIROC), National Futures Association (NFA) |
| Founded | 2013 | 2001 |
| Country | Malaysia | United States |
| Clients | 10,000+ | 150,000+ |
Fees
Fees are a critical factor when choosing between Binary Mate and Forex.com, directly affecting your bottom line as a trader. Binary Mate has a lower barrier to entry with a minimum deposit of $1000 (vs Typical at Forex.com). Forex.com charges withdrawal fees while Binary Mate does not, giving Binary Mate an edge for frequent withdrawers. Forex.com applies inactivity fees on dormant accounts; Binary Mate does not. Forex.com charges deposit fees; Binary Mate does not. Overall, Binary Mate scores higher on fees in our assessment.
| Feature | Binary Mate | Forex.com |
|---|---|---|
| Min. Deposit | $1000 | Typical |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | Yes |
| Deposit Fees | No | Yes |
| CFD Fees | No | Yes |
Platforms
Binary Mate offers MT4, MT5, cTrader, while Forex.com supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Both brokers support copy or social trading, catering to less hands-on investors. The two brokers are closely matched on platform offering.
| Feature | Binary Mate | Forex.com |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | Android ,iPhone,Mac,iPade | MT4, MT5, WebTrader, Advantage Trader Pro, TradingView, Tablet and mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Binary Mate and Forex.com compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. Binary Mate scores higher overall in education and research.
| Feature | Binary Mate | Forex.com |
|---|---|---|
| Forex Education | Yes | No |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | Yes | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Binary Mate accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while Forex.com supports 3 (bank transfer, credit/debit card, PayPal). Forex.com uniquely supports PayPal among the two brokers. Forex.com scores higher on deposit and withdrawal flexibility.
| Feature | Binary Mate | Forex.com |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | Yes |
| Skrill | No | No |
| Neteller | No | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Binary Mate and Forex.com offer live chat support. Both provide phone support. Email support is available at both brokers. Binary Mate supports 2 languages and Forex.com supports 3, giving Forex.com broader global reach. Both brokers are comparable on support quality.
| Feature | Binary Mate | Forex.com |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, Chinese, Arabic |