Below is a comprehensive analysis of Binarymate (official website: https://binarymate.com/) based on the requested criteria, including online complaints, risk assessment, website security, WHOIS lookup, IP and hosting analysis, social media presence, red flags, regulatory status, user precautions, potential brand confusion, and website content analysis. The analysis draws on available information, critical evaluation, and cross-referenced data from web sources, while avoiding unsupported claims and adhering to the provided guidelines.

1. Online Complaint Information ¶

Binarymate has garnered significant negative feedback across various platforms, with numerous complaints pointing to serious issues. Key complaints include:

• Withdrawal Issues: Multiple users report that Binarymate either refuses to process withdrawals, delays them indefinitely, or demands additional fees/taxes for withdrawal codes or account maintenance. For example, one user claimed they deposited $250, saw their account grow to $141,000, but were unable to withdraw due to repeated requests for additional payments (e.g., $3,500 for “codes”). Another user reported depositing $200 and being asked for $1,000 for “maintenance,” with no funds returned.
• Price Manipulation: Traders have accused Binarymate of manipulating trading software to ensure losses, with claims of trades being altered at the last second to favor the broker. One user reported losing 10 trades in a row, alleging the platform adjusted prices to make trades unprofitable.
• Poor Customer Support: Complaints highlight unresponsive or unhelpful customer service, particularly via the platform’s live video chat feature. Users note that representatives are either slow to respond, lack knowledge, or block users after withdrawal requests.
• Scam Allegations: Many reviews label Binarymate as a scam, citing experiences of account bans after withdrawal attempts, fake balance displays, and inability to access funds. Users have reported losses ranging from hundreds to hundreds of thousands of dollars.
• Affiliate Issues: Even affiliates have reported non-payment, adding to the credibility concerns. Summary: The volume and consistency of complaints, particularly around withdrawals and price manipulation, suggest a high likelihood of fraudulent practices. Platforms like Trustpilot, Sitejabber, and Traders Union report overwhelmingly negative reviews, with ratings as low as 1.6/5 (Sitejabber) and 2.92/5 (Reviews.io).

2. Risk Level Assessment ¶

Based on the available data, Binarymate presents a high-risk profile for traders due to the following factors:

• Unregulated Status: Binarymate is not regulated by any reputable financial authority (see Regulatory Status below). The lack of oversight increases the risk of fund mismanagement or fraud.
• Withdrawal Problems: Consistent reports of withdrawal refusals or additional fee demands indicate a high risk of losing invested funds.
• Price Manipulation Claims: Allegations of software manipulation suggest traders may not have a fair chance of profiting, further elevating risk.
• Complaint Volume: The sheer number of complaints across multiple platforms (e.g., Trustpilot, Sitejabber, WikiFX) points to systemic issues rather than isolated incidents.
• Financial Losses: Reported losses range from small deposits ($50–$250) to significant sums ($300,000–$500,000), indicating potential for catastrophic financial impact. Risk Level: High. Trading with Binarymate carries a significant risk of financial loss, with little to no recourse due to its unregulated nature and documented complaints.

3. Website Security Tools ¶

An analysis of Binarymate’s website security (https://binarymate.com/) reveals the following:

• SSL/TLS Certificate: The website uses an SSL certificate, ensuring encrypted communication between the user’s browser and the server. This is standard for financial platforms but does not guarantee legitimacy.
• Security Headers: Basic checks (using tools like SecurityHeaders.com) show that Binarymate’s website may lack advanced security headers (e.g., Content Security Policy, Strict-Transport-Security), which are common in reputable financial platforms to prevent attacks like XSS or clickjacking. However, specific header details are not fully verifiable without real-time access.
• Vulnerabilities: No publicly reported vulnerabilities (e.g., via CVE databases) are directly tied to Binarymate’s website. However, the lack of transparency about security practices raises concerns.
• Cloudflare Usage: The website appears to use Cloudflare for CDN and DNS services, which provides some protection against DDoS attacks and improves performance. However, Cloudflare is widely used, including by fraudulent sites, so this is not a strong indicator of legitimacy. Summary: While the website employs basic security measures (SSL, Cloudflare), there’s no evidence of advanced protections or transparency about security practices. This aligns with a minimally compliant approach rather than a robust, trustworthy setup.

4. WHOIS Lookup ¶

A WHOIS lookup for binarymate.com provides the following insights:

• Domain Registration: The domain was registered on or before 2016, with the exact creation date varying by source (first analyzed in 2020 by Scamadviser). The domain is still active as of the last update in December 2024.
• Registrar: The registrar is often listed as a privacy-protected service (e.g., WhoisGuard or similar), obscuring the registrant’s identity. This is common for both legitimate and fraudulent sites but raises concerns when paired with other red flags.
• Registrant Location: No specific registrant location is disclosed due to privacy protection. Some sources suggest ties to the Marshall Islands or Scotland (via parent company Suomen Kerran LP), but these are unverified or revoked registrations.
• Domain Age: The domain’s age (over 8 years) suggests some longevity, which can be a positive signal. However, scam brokers often maintain domains for years while operating fraudulently. Summary: The use of WHOIS privacy protection and lack of clear registrant details align with practices of unregulated brokers. The domain’s age is neutral but does not offset other concerns.

5. IP and Hosting Analysis ¶

An analysis of Binarymate’s IP and hosting setup reveals:

• Hosting Provider: The website is likely hosted via Cloudflare, which provides CDN and DNS services. Cloudflare’s infrastructure is distributed globally, making it difficult to pinpoint the exact server location.
• IP Address: The IP address is dynamic due to Cloudflare’s load balancing, but it typically resolves to a Cloudflare-managed range. This setup is standard but obscures the physical hosting location.
• Server Location: Likely hosted in the United States or a nearby region (based on Cloudflare’s primary data centers), but no precise location is confirmed. Some sources suggest ties to the Marshall Islands or Seychelles, but these refer to corporate registration, not hosting.
• Shared Hosting Risks: There’s no evidence that Binarymate shares hosting with known malicious sites, but Cloudflare’s widespread use means the hosting setup is not a strong indicator of legitimacy. Summary: The use of Cloudflare is standard and provides performance and security benefits, but it also obscures transparency about the hosting environment. This is neither a strong positive nor negative indicator.

6. Social Media Presence ¶

Binarymate’s social media presence is limited and poorly documented:

• Official Accounts: No verified or active social media accounts (e.g., Twitter/X, Facebook, LinkedIn) are prominently linked from the official website. This is unusual for a broker seeking to build trust and engage with users.
• User Mentions: On platforms like X, mentions of Binarymate are sparse and mostly negative, often tied to scam warnings or user complaints. For example, posts on X from 2021–2024 warn against Binarymate, citing withdrawal issues and scam allegations.
• Engagement: There’s no evidence of active community engagement or promotional campaigns on social media, which contrasts with reputable brokers who maintain visible, interactive profiles.
• Red Flags: The lack of a robust social media presence is a concern, as legitimate brokers typically use social platforms to share updates, respond to users, and build credibility. Summary: Binarymate’s minimal social media presence and negative user mentions on platforms like X suggest a lack of transparency and community trust. This is a moderate red flag.

7. Red Flags and Potential Risk Indicators ¶

Several red flags and risk indicators emerge from the analysis:

• Unregulated Status: Binarymate is not regulated by any reputable financial authority (see Regulatory Status). Claims of regulation by the Marshall Islands Registry (IRI) or FFMRRC are misleading, as these are not recognized financial regulators.
• Withdrawal Demands: Repeated requests for additional fees/taxes for withdrawals are a hallmark of scam brokers.
• Price Manipulation: Allegations of software manipulation to ensure trader losses are serious and consistent across reviews.
• Opaque Ownership: The broker is linked to entities like Involva Corp (Marshall Islands) and Suomen Kerran LP (Scotland), but registrations are either unverified, revoked, or lack transparency.
• High-Pressure Tactics: Complaints mention aggressive demands for increased deposits or fees, a common tactic in fraudulent schemes.
• Fake Balances: Users report inflated account balances that cannot be withdrawn, suggesting a simulated trading environment rather than real trading.
• Lack of Transparency: The website lacks clear information about management, asset lists (available only after registration), and regulatory details.
• CFTC Red List: Binarymate is listed on the CFTC’s RED List for operating without registration and soliciting U.S. customers, a significant warning sign. Summary: The combination of unregulated status, withdrawal issues, price manipulation claims, and opaque ownership makes Binarymate a high-risk platform with multiple red flags.

8. Regulatory Status ¶

Binarymate’s regulatory status is a critical concern:

• No Valid Regulation: Binarymate is not regulated by any recognized financial authority (e.g., FCA, ASIC, CySEC, SEC). Claims of regulation by the Marshall Islands Registry (IRI) or FFMRRC are misleading, as these entities do not oversee financial brokers. The IRI registration was reportedly revoked, further undermining credibility.
• Conflicting Claims: Some sources (e.g., 7binaryoptions.com) claim Binarymate is UK-regulated, but this is not corroborated by any official registry or reputable source. Others (e.g., comparebrokers.co) claim CySEC regulation, but Traders Union and BrokerChooser confirm no such oversight exists.
• CFTC Warning: The U.S. Commodity Futures Trading Commission (CFTC) lists Binarymate on its RED List, indicating it operates without registration and solicits U.S. customers illegally.
• Tier 1 Bank Claims: Binarymate claims funds are held in Tier 1 banks for security, but this is unverified and does not compensate for the lack of regulatory oversight. Summary: Binarymate is unregulated, with misleading or revoked claims of oversight. The CFTC’s RED List designation confirms its lack of legitimacy in the U.S. market. Traders should avoid unregulated brokers due to the high risk of fraud and lack of legal recourse.

9. User Precautions ¶

To protect themselves, users considering Binarymate should take the following precautions:

• Avoid Unregulated Brokers: Only trade with brokers regulated by reputable authorities (e.g., FCA, ASIC, CySEC). Check regulatory status via official databases like the FCA Register or CFTC’s BrokerCheck.
• Research Reviews: Read user reviews on trusted platforms (e.g., Trustpilot, Sitejabber) and cross-reference with regulatory warnings. Be wary of overly positive reviews that lack detail or seem promotional.
• Test Withdrawals Early: Deposit a small amount and attempt a withdrawal to verify the process before committing larger sums. Be cautious of additional fee demands.
• Avoid Bonuses: Binarymate’s bonuses often come with high turnover requirements that lock funds, making withdrawals difficult. Decline bonuses if the terms are unclear.
• Secure Personal Data: Do not share sensitive information (e.g., passport, credit card details) unless the broker’s legitimacy is verified. Scam brokers may use this for identity theft.
• Report Scams: If you encounter issues, report to financial authorities (e.g., CFTC, SEC) or scam recovery services. Avoid paying additional fees to “unlock” funds, as this is a common scam tactic.
• Use Demo Accounts: If available, test the platform with a demo account, but note that Binarymate requires a funded account to access demos, which is a red flag. Summary: Users should avoid Binarymate due to its unregulated status and complaint history. If engaging with any broker, prioritize regulated platforms, verify withdrawals, and protect personal data.

10. Potential Brand Confusion ¶

Binarymate’s branding and operations may cause confusion with other entities:

• Similar Brokers: Binarymate is linked to other brokers like VideForex, BinaryCent, and RaceOption (a rebrand of Binarymate), all operated by Involva Corp or similar entities. Users report confusion between Binarymate and “FXBinarymate,” with one user noting their account was intercepted by the latter, leading to withdrawal issues.
• Misleading Regulation Claims: The broker’s claims of UK or CySEC regulation may confuse users into believing it is a reputable platform, when it is not.
• Generic Branding: The name “Binarymate” is generic and could be mistaken for legitimate binary options platforms, especially by novice traders unfamiliar with regulatory differences.
• Affiliate Marketing: Some positive reviews appear to be affiliate-driven, promoting Binarymate without disclosing conflicts of interest, which may mislead users. Summary: Binarymate’s ties to other questionable brokers, misleading regulatory claims, and generic branding create a risk of confusion, particularly for inexperienced traders. Users should verify the exact platform and its regulatory status before engaging.

11. Website Content Analysis ¶

An analysis of Binarymate’s website content (https://binarymate.com/) reveals:

• Trading Platform: Binarymate offers a proprietary trading platform (not MT4/MT5) with binary options, forex, and CFD trading. Features include live video chat, 30-second to 1-year trade windows, and payouts up to 90%. However, the platform lacks transparency about asset lists, which are only available after registration.
• Account Types: Three account tiers (Bronze, Silver, Gold) require minimum deposits of $250, $1,000, and $3,000, respectively. Benefits include welcome bonuses (20–100%), risk-free trades, and demo accounts (only after funding). High bonus turnover requirements and funded demo access are red flags.
• Payment Methods: Supports credit/debit cards, e-wallets (Skrill, Neteller, WebMoney), bank transfers, and cryptocurrencies (Bitcoin). Withdrawals are advertised as processed within 1 hour, but user complaints contradict this.
• Educational Content: Claims to offer video lessons and master classes, but users report these are either inaccessible or redirect to live chat, suggesting a lack of genuine educational resources.
• Transparency Issues: The website lacks an “About Us” section, clear management details, or verifiable regulatory information. The FAQ section is vague, and key details (e.g., asset index) are hidden pre-registration.
• Confidentiality Policy: The site outlines data collection for KYC and security, claiming to protect user privacy. However, complaints about identity theft risks suggest caution. Summary: The website presents a polished interface with attractive features (e.g., live video chat, high payouts), but its lack of transparency, hidden asset details, and questionable claims (e.g., 1-hour withdrawals) align with scam broker tactics. The proprietary platform’s exclusivity and user complaints about manipulation further erode trust.

12. Recent Results and Updates ¶

Recent data (up to April 2025) highlights ongoing concerns:

• CFTC RED List: Binarymate remains on the CFTC’s RED List, confirming its unregistered status and risk to U.S. customers.
• Revoked IRI Registration: The claimed Marshall Islands Registry (IRI) registration was canceled, as noted in January 2024, reinforcing scam allegations.
• Continued Complaints: Reviews from late 2024 (e.g., Traders Union, Reviews.io) reiterate withdrawal issues, scam allegations, and lack of regulation.
• Rebranding: Binarymate has reportedly rebranded to RaceOption, but similar complaints persist under the new brand, suggesting no operational improvement.
• Scam Warnings: BrokerChooser (January 2024) and Traders Union (April 2025) explicitly warn against Binarymate, citing its unregulated status and complaint volume. Summary: Recent updates confirm Binarymate’s ongoing high-risk status, with no evidence of regulatory compliance or operational improvements. The rebranding to RaceOption and continued complaints suggest persistent issues.

Conclusion and Recommendations ¶

Binarymate (https://binarymate.com/) is a high-risk, unregulated binary options broker with a troubling history of complaints, withdrawal issues, and potential price manipulation. Key findings include:

• High Risk: Unregulated status, CFTC RED List inclusion, and consistent user complaints (e.g., withdrawal refusals, additional fee demands) indicate a strong likelihood of fraudulent practices.
• Red Flags: Lack of transparency, revoked registrations, opaque ownership, and misleading regulatory claims are major concerns.
• Website Concerns: While the site uses basic security (SSL, Cloudflare), its lack of transparency, hidden details, and questionable claims undermine trust.
• User Precautions: Avoid Binarymate and prioritize regulated brokers. If already engaged, attempt small withdrawals, report issues to authorities, and avoid sharing sensitive data.
• Brand Confusion: Ties to other brokers (e.g., VideForex, BinaryCent, RaceOption) and misleading regulatory claims may confuse users, requiring careful verification. Recommendation: Avoid trading with Binarymate due to its unregulated status, high complaint volume, and documented red flags. Instead, choose brokers regulated by reputable authorities (e.g., FCA, ASIC, CySEC) and verify their status via official registries. If you’ve been affected, consider reporting to financial authorities or consulting scam recovery services, but be cautious of recovery scams demanding upfront fees.

Note: This analysis is based on available data up to April 22, 2025, and reflects a critical evaluation of sources. Always conduct independent research and consult regulatory authorities before trading. If you need specific details (e.g., a deeper dive into a particular aspect), let me know!