Binary Mate
FXCM
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Overview
Binary Mate was founded in 2013 and is headquartered in Malaysia, while FXCM was established in 1999 and is based in United States. Binary Mate holds licences including Cyprus Securities and Exchange Commission (CySEC), while FXCM is regulated by Financial Conduct Authority (FCA) among others. Binary Mate serves 10,000+ clients worldwide; FXCM has 10,000+. The minimum deposit is $1000 at Binary Mate and $1 at FXCM.
| Feature | Binary Mate | FXCM |
|---|---|---|
| Min. Deposit | $1000 | $1 |
| Regulation | Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA) |
| Founded | 2013 | 1999 |
| Country | Malaysia | United States |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Binary Mate and FXCM, directly affecting your bottom line as a trader. FXCM has a lower barrier to entry with a minimum deposit of $1 (vs $1000 at Binary Mate). Neither broker charges withdrawal fees. Overall, FXCM scores higher on fees in our assessment.
| Feature | Binary Mate | FXCM |
|---|---|---|
| Min. Deposit | $1000 | $1 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
Binary Mate offers MT4, MT5, cTrader, while FXCM supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Binary Mate supports social and copy trading features, which FXCM does not offer. The two brokers are closely matched on platform offering.
| Feature | Binary Mate | FXCM |
|---|---|---|
| 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, Mirror Trader, Web Trader, NinjaTrader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Binary Mate and FXCM 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. The two brokers are evenly matched on educational content.
| Feature | Binary Mate | FXCM |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | Yes | Yes |
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 FXCM supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Binary Mate | FXCM |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | No |
| 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 FXCM offer live chat support. Both provide phone support. Email support is available at both brokers. Both brokers offer support in 2 languages. Both brokers are comparable on support quality.
| Feature | Binary Mate | FXCM |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |