eToro vs Binary Mate, Updated for 2022
Read our In-Depth eToro vs Binary Mate Review - 2022 Update
This eToro vs Binary Mate review has been updated for 2022 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.
Please note that due to regulations for each broker, the content in this eToro vs Binary Mate review does not apply to all countries as follows:
eToro Excluded Countries
Iran, Democratic Peoples Republic of Korea, Belgium, Canada, Japan, Syrian Arab Republic, Turkey, Israel, Belarus, Albania, Republic of Moldova, North Macedonia, Serbia, Guinea, Democratic Republic of the Congo, Sudan, Zimbabwe, Ethiopia, Ghana, Tanzania, Libya, Uganda, Zambia, Botswana, Rwanda, Tunisia, Somalia, Namibia, Togo, Sierra Leone, Liberia, Gambia, Djibouti, Ivory Coast, Pakistan, Brunei Darussalam, Taiwan, Province of China, Samoa, Nepal, Singapore, US Virgin Islands, Turkmenistan, Tajikistan, Uzbekistan, Sri Lanka, Trinidad and Tobago, Haiti, Myanmar, Bhutan, Marshall Islands, Maldives, Kazakhstan, Grenada, Fiji, Barbados, Bermuda, Bahamas, Antigua and Barbuda, Anguilla, Aruba, Lebanon, El Salvador, United States of America, Paraguay, Honduras, Guatemala, Puerto Rico, Nicaragua, British Virgin Islands, and Netherlands Antilles.
Binary Mate Excluded Countries
Brazil, Republic of Korea, Iran, Iraq, Syrian Arab Republic, Japan, and United States of America.
Compare eToro vs Binary Mate
Every online trading system will have some pros and cons, and no eToro and Binary Mate review would be complete without having a balanced approach. Compare eToro and Binary Mate to understand how they line up against each other before you open an account. A comparative analysis can put things into perspective so that you are aware of what to expect.
So you are looking for a broker and are choosing between eToro or Binary Mate. Which one is best in 2022?
This eToro vs Binary Mate comparison contains the latest information so you can easily compare Binary Mate against eToro.
If you are a new entrant in the realm of trading and brokerages, so many facts will be confusing for you. Getting into the area of trading requires expert analyzing skills and thorough knowledge. You will acquire proficient at all the concepts of brokerage since you keep trading. For starters, you have to choose the right broker who will be transparent with you constantly.
In this fast-paced world of stock markets and trading, you will need advice to make correct decisions. A professionally direct investment program has the potential to generate hefty returns. eToro and Binary Mate are just two such stages which will take you along with your investment to great heights. It is important that you compare eToro vs Binary Mate before you trust them with your money.
Our eToro vs Binary Mate comparison will help you judge the effectiveness, price, ease of use and customer support, and whether you can trust eToro and Binary Mate side by side.
Our entire eToro vs Binary Mate Review covers all you will need to learn about trading with either eToro or Binary Mate. A fantastic agent can multiply your first investments and provide you positive profits. If you would like to make profits, you must trade with a brokerage service that contrasts with your investing objectives.
There is no sure-fire way to guarantee profits; therefore, you should carefully assess your agent before you choose them. It is a frequent misconception that all brokers will be exactly the same, but that is not correct. Wrong judgment, initially, can put your investments in danger.
eToro and Binary Mate are both brokers that have paved their way successfully to the broker world. In this review, we have tried to collate some of the vital aspects of both eToro and Binary Mate. This review can help you to know whether either Binary Mate or eToro is a fantastic fit for your own investments or not. We have attempted to breakdown all the features and charges for your advantage.
Benefits of eToro and Binary Mate Compared
eToro offers a minimum deposit of $50 while Binary Mate offers a $1000 minimum deposit.
Why smaller minimum deposits are good and how eToro and Binary Mate compare
The main reason is that you should only deposit what you can afford. If you you have a lower budget, the broker that offers the lowest deposit option will be more attractive. The other reason is because when speculating on riskier but potentially more rewarding financial instruments you should look to speculate with only a small percentage of your allocated trading funds. Don't let a higher minimum deposit totally put you off a broker, look at the overall trading features you are getting from the trading platform. Often a high minimum deposit gives greater choice in the financial assets and trading platform research features.
eToro allows you to trade around 100 financial instruments whilst Binary Mate allows you to trade around 100 financial instruments on their platform.
The more financial instruments you can trade on the eToro and Binary Mate platforms the better. It is good to have a diverse portfolio and the options available to a user will always vary. Trading is all about grasping potential opportunities and you should never want to miss out on a trading opportunity due to the limitations of eToro or Binary Mate.
eToro and Binary Mate Contact Details
Being able to contact your broker easily is vital. eToro and Binary Mate have the following contact details and social medias that you can use.
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| Broker | eToro | Binary Mate |
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| support@etoro.com | ||
| Address | 24th floor, One Canada Square, Canary Wharf, London, E14 5AB | |
| eToro Twitter Account | Binary Mate Twitter Account | |
| eToro Facebook Page | Binary Mate Facebook Page | |
| eToro Instagram Account | Binary Mate Instagram Account | |
| eToro LinkedIn Page | Binary Mate LinkedIn Page | |
| YouTube | eToro YouTube Channel | Binary Mate YouTube Channel |
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Binary Mate and eToro Mobile App Comparison
It is becoming increasingly important for brokers to offer simple-to-use apps that provide the same services as desktop platforms.
This part of comparing eToro and Binary Mate will examine whether their mobile app meets all our requirements.
We rate overall the user-friendliness of the apps as better than average.
It is crucial that trading apps have user-friendly capabilities, especially for those who use it with their smartphones.
Search Functions
While most brokers are good at this, there are some poor ones. For example, if you start typing 'Emerging markets', will the software find all the Emerging markets ETFs for you, even if their name doesn't start with 'emerging'? If you only ever traded US stocks and start typing 'Apple', will the AI show you the Apple stock or the obscure Irish stock Applegreen?
eToro vs Binary Mate - Awards
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| Broker | eToro | Binary Mate |
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eToro have won numerous industry awards over the years they have been operating as a financial broker. We show the most notable awards for eToro below.
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At the time of writing this Binary Mate review, and despite Binary Mate’s impressive offering, the company has surprisingly not garnered any awards to date. |
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eToro vs Binary Mate - Frequently Asked Questions
eToro vs Binary Mate - Headquarters And Year Of Founding
eToro was founded in 2007 and has its headquaters in Cyprus, UK.
Binary Mate was founded in 2013 and has its headquaters in Malaysia.
What is the minimum deposit for Binary Mate or eToro
The minimum deposit for eToro is $50.
The minimum deposit for Binary Mate is $1000.
Depending on your needs, a lower minimum deposit can be beneficial. If you are experienced with forex trading but are looking for a change then both eToro and Binary Mate are a good choice.
eToro vs Binary Mate - Regulation And Licencing In More Detail
eToro is regulated by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC).
Binary Mate is regulated by Cyprus Securities and Exchange Commission (CySEC).
Both eToro and Binary Mate have a strong set of rules for ensuring fair trading on their own platforms. For information encryption functions, they provide industry-standard secure socket layers (SSL).
As per their own privacy regulations, customer information is to not be shared with any other institutions or individuals. Including credit history and other financial information.
Compare eToro vs Binary Mate Commission And Fees
eToro and Binary Mate are online broker platforms, and many online brokerages charge lower prices than traditional brokerages tend to charge. The cause of this is that the businesses of online trading platforms are scaled much better. In other words, an internet broker isn't necessarily affected by the amount of customers they have.
However, this does not mean that online brokers don't charge any fees. They charge prices of varying rates for various services to make money. There are mainly 3 types of fees for this objective.
The first sort of fees to look out for are trading charges. Whenever you make a genuine trade, like buying a stock or an ETF, you're billed trading fees. In these instances, you're paying a spread, financing rate, or a commission. The sorts of trading fees and the prices differ from broker to broker.
Commissions could be fixed or determined by the traded volume. On the other hand, a spread denotes the difference between the buying and selling cost. Financing or overnight rates are those that are charged when you maintain a leveraged position for more than a day.
Apart from trading charges, online brokers also bill non-trading fees. These are dependent on the activities you undertake on your account. They are billed for operations like depositing cash, not investing for lengthy periods, or withdrawals.
In general, neither eToro or Binary Mate charge high fees in comparison to other online agents. For operations other brokers charge for, they either do not charge a brokerage fee, or they charge a lesser sum. This is beneficial for people who regularly trade, such as daily or weekly trading.
However, non-trading fees charged by eToro and Binary Mate are relatively higher. As a result, you're billed more for non-trading activities in your trading accounts, such as withdrawal and deposits. These aren't related to the sale and purchase of resources.
This eToro vs Binary Mate review for 2022 breaks down each of the relevant non-trading charges for you in detail.
Compare Broker Fees For eToro And Binary Mate
What Languages Do eToro And Binary Mate Support?
Being able to chat completely with your trading broker is a key part of comparing trading platforms to find the best broker. Not only for support but to be sure you understand everything on their site and inside their application as it is a key part of success when trading forex.
Below you will find the languages that both eToro and Binary Mate support.
How Many Clients Do eToro and Binary Mate Have?
Both eToro and Binary Mate are well known and trusted. It is really important to work with a broker you can trust and one of the most simple ways of establishing this is by knowing how many customers are using their services.
Below you will find details of how many customers eToro and Binary Mate are working with
What Payment Methods Do eToro and Binary Mate Accept?
eToro and Binary Mate both offer a wide range of payment options which is vital when you have a global customer base.
Below you will find details of all the payment options available at eToro and Binary Mate
What Can You Trade With eToro and Binary Mate?
eToro offers 100 trading instruments whilst Binary Mate offers 54.
Below you will find a full breakdown of what both eToro and Binary Mate offer.
Compare eToro To All Other Brokers
Compare Binary Mate To All Other Brokers