Binance Guide – Read our In-Depth Binance Review
Binance Rating: 5.88 / 10
Our proprietary rating algorithm takes all of our datapoints to generate the rating. This keeps things fair and removes human bias to ensure that our users can compare brokers easily and find the best ones.
This Binance review has been updated for 2021 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.
Please note that due to regulations, the content in this Binance review does not apply to users in BR, KR, IR, IQ, SY, JP, US
If you are a new entrant in the world of trading and brokerage, so many facts will be perplexing for you. Getting into the area of trading requires expert analyzing skills and comprehensive understanding. You will acquire proficient at all the concepts of broker since you keep trading. For starters, you have to select the right broker who will be clear with you always.
In this fast-paced world of stock markets and trading, you will need guidance to make proper decisions. A professionally lead investment plan will create hefty returns. Binance is just one such platform which will take you and your investment to great heights. It is crucial that you know all about Binance until you trust them with your cash.
Binance Review – Quick Overview
Binance Telephone Number:
+1 929 228 3440
Binance Email Address:
Melita Court Level 3 Triq Giuseppe Cali Ta' Xbiex XBX 1420 Malta
Number Of Clients:
13500000 Binance users and traders
Binance Facebook Likes:
Binance Twitter Followers:
Binance Instagram Followers:
Your capital is at risk
|Binance Telephone Number:||+1 929 228 3440|
|Binance Email Address:||email@example.com|
|Binance Address:||Melita Court Level 3 Triq Giuseppe Cali Ta' Xbiex XBX 1420 Malta|
|Number Of Clients:||13500000 Binance users and traders|
|Binance Facebook Likes:||583,214|
|Binance Twitter Followers:||4,600,000|
|Binance Instagram Followers:||1,600,000|
Your capital is at risk
Our full Binance Review covers all you will need to learn about trading using Binance. A fantastic agent can multiply your initial investments and provide you positive profits. If you would like to earn profits, you should trade with a brokerage service that aligns with your investment goals.
There's absolutely no sure-fire way to ensure profits; therefore, you must carefully analyze your broker before you select them. It's a common misconception that all brokers will be exactly the same, but that is not correct. Wrong judgment, initially, can set your investments at risk.
Binance is a broker which has paved its way successfully to the broker world. Within this review, we have attempted to collate some of the vital facets of Binance. This review can allow you to understand whether Binance is a good match for your investments or not. We've attempted to breakdown all of the qualities and fees for your convenience.
Binance Review, Table Of Contents
- Who are Binance?
- Benefits Of Trading With Binance
- Everything you should know about trading with Binance
- Is Binance Safe To Trade With?
- Binance Risk Disclaimer
- Pro's & Con's Of Trading With Binance
- Compare Brokers Similar To Binance
- Regulation And Licencing In More Detail
- Binance Awards
- Minimum Deposit Required For A Live Account With Binance
- Binance Commission And Fees Explained
- Compare broker fees against Binance
- Binance Withdrawal Fees Explained
- Binance Deposit Fees Explained
- Compare Broker Deposit Methods
- What Can You Trade With Binance?
- Alternatives To Binance
- Frequently Asked Questions About Binance
Who are Binance?
Binance is a forex broker headquartered in Japan and provides a variety of tools for trading. Since its beginning in 2017, Binance has emerged as a top-tier player in the industry of online brokerage. Binance has an extremely competitive and full-featured trading website that's focused on currency, indices, metals, stocks and commodities.
Over the past 4 years, Binance has grown into one of the leading online brokers.
After establishing in 2017, their consumer base is becoming as large as 13500000 clients.
Binance is the favourite for many dealers because of its negative balance protection. Our Binance review discovered that they are an superb alternative for automated trading options. It is best suited for investors who are searching for an assortment of assets. Social and automated trading options are the core at Binance.
Technology plays a substantial role in Binance. Binance features trading on Desktop, Android, iPhone/iPad, Mac. Binance is honest, transparent, and also a well-regulated agent by the Unregulated. Their outstanding array of resources will be beneficial for most traders. Third-party partnerships also supply in-house research.
Who Founded Binance?
The founders of Binance are Changpeng Zhao
The founders of Binance are known for their experience in the sphere of internet trading. However, there are a lot of other key people at Binance who have a substantial impact on it's success.
The educational section at Binance is very enlightening for new dealers as it allows them to get a closer look in the financial markets. Binance caters to all types of traders and are a must-have broker for any well-diversified approach to online trading.
If you feel that Binance is not right for you then at the bottom of this Binance review you wil find a lot of alternatives to Binance.
Everything you should know about trading with Binance
Binance is a dynamic platform that offers various procedures of trading online. These instruments cover the financial markets substantially. Most of the brokerage platforms provide fewer methods than Binance
If you wish to trade with Binance, you will require a minimum deposit of $100. This deposit is mandatory if you wish to start trading using Binance. This 2021 Binance review will direct you easily about trading with them.
Binance is as versatile as another broker platform. Binance is great for traders who want a manageable range of cheap services. The programs offered by Binance are third party, white-label offerings. All traders can choose from Desktop, Android, iPhone/iPad, Mac.
Together with everything, Binance has multiple benefits to new and verteran traders and should be investigated. There's absolutely no minimum time over which a trade must be kept available. The agents provide premium client service which rewards customers with benefits.
Many unprofessional brokers try to pressurise customers into bigger financing for premium services. Binance, on the other hand, is more focused on trading volume. Dealers can expect trading conditions to be just, honest and transparent. The more lots traded by the user, the further benefits will become available.
Binance accounts are available all over the world and provides outstanding service wherever they have customers. There are only a select few countries where Binance accounts are not available. Traders in the following countries cannot open or use a Binance account:
BR, KR, IR, IQ, SY, JP, US
Is Binance Safe To Trade With?
Launched in 2017, Binance has been open for 4 years, they have a head office in Japan.
Binance is regulated by Unregulated. These bodies have rules that ensure that trading platforms have ploicies in place to keep investor's assets procured. This usually means that Binance users do not need to be worried about their money since it is segregated and safely kept in established banks. SSL encryption secures every user's private information as well.
You are able to make use of an option for 2 Factor Authentications (2FA) with Binance for increased security. An SMS for the verification code will be sent to a phone. You'll be asked to enter this code to log in to your account.
Another concern with financial brokers with regards to security might be manipulation of trading. This is highly disadvantageous for users on these platforms. Nonetheless, this is much more prevalent in the case of Market Maker brokers who compete with users on the platform.
Binance Risk Disclaimer
Your capital is at risk
Pro's & Con's Of Trading With Binance
Every online trading platform will have some pros and cons Binance review would be complete without showing both sides. This Binance review covers both the pros and cons you need to know before you make an account. A comparative analysis can put things into perspective so that you are aware of what to expect.
- Binance is trusted by 13500000 clients
- Binance offers Negative Balance Protection
- Binance has low minimum deposit requirements
- Binance doesn't charge inactivity fees
- Binance doesn't charge CFD fees
- Binance offers social trading
- Binance offers copy trading
- Binance offer trading on Desktop, Android, iPhone/iPad, Mac
- Binance offer 52 trading instruments
- Binance offers trading on cryptocurrencies
- Binance can communicate in English, and Chinese
- Binance does not offer Guaranteed Stop Loss
- Binance charge withdrawal fees
- Binance charge deposit fees
- Binance doesn't trade major forex pairs
- Binance doesn't trade minor forex pairs
- Binance doesn't trade exotic forex pairs
- Binance doesn't offer trailing stop
Binance Review - Compare Brokers Similar To Binance
|Rating||5.88 / 10||5.85 / 10||5.15 / 10||4.58 / 10|
|Regulated By||Unregulated||Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F268||Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F229||Cyprus Securities and Exchange Commission (CySEC), CIF license number 357/18, Financial Services Authority (FSA) under license No. SD042|
|Find Out More|
|Risk Warning||Your capital is at risk||Your capital is at risk||Your capital is at risk||CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor|
Binance Review - Regulation And Licencing In More Detail
Binance is regulated by Unregulated.
Binance, as a business, has a powerful collection of rules for ensuring fair trading on its platform. For data encryption functions, it provides an industry-standard secure socket layer (SSL).
As per the company's privacy regulations, customer information is never to be shared with some other institutions or individuals. This includes credit history and other financial details.
Binance Review - AwardsAt the time of writing this Binance review, and despite Binance’s impressive offering, the company has surprisingly not garnered any other awards to date.
Binance Trading Platforms
Binance are a professional broker that has been operating for over 4 years. They offer a wide range of options in their client accounts.
In the following table we take the main parts of any professional broker and compare Binance against landfx, forexite, and Skilling
Binance Review - Minimum Deposit Required
The minimum deposit you must deposit to get started on Binance is $100. This is an adequate amount for those just starting out. You can make more advanced residue as you go along. But, ensure that you understand how to make the most of your cash before investing larger sums.
Binance Review - Commission And Fees Explained
Binance is an online broker platform, and most online brokerages charge lower prices than traditional brokerages tend to bill. The cause of this is that the companies of online brokerages are scaled better. That is, an online broker isn't necessarily influenced by the number of customers they have.
However, this does not necessarily mean that online brokers don't charge any fees. They charge prices of varying rates for a variety of services to earn money. There are primarily three different types of fees for this purpose.
The first kind of fees to look out for are trading charges. Whenever you make an actual trade, like purchasing a stock or an ETF, you are charged trading charges. In these instances, you are spending a spread, financing speed, or a commission. The sorts of trading fees and the rates differ from broker to broker.
Commissions could be fixed or determined by the traded quantity. On the other hand, a spread denotes the difference between the buying and selling price. Financing or overnight rates are people who are charged when you maintain a leveraged position for more than daily.
Apart from trading charges, online brokers also charge non-trading fees. These are dependent on the activities you undertake in your accounts. They are charged for things like depositing cash, not investing for long periods, or withdrawals.
In general, Binance does not charge high fees compared to other online brokers. For operations other agents charge for, they either do not charge a broker fee, or they charge a smaller amount. This can be beneficial for those who often exchange, such as daily or weekly trading.
However, non-trading fees charged by Binance are relatively higher. Consequently, you're billed more for non-trading activities in your trading accounts, like deposits and withdrawal. These aren't about the sale and purchase of assets.
This Binance review breaks down every one of the applicable non-trading charges for you in detail.
Compare broker fees against Binance
Binance Review - Withdrawal Fees Explained
Binance charges a withdrawal fee when you create a bank transfer. Each time you move money into your bank account, these withdrawal fees become applicable.
Withdrawal of money is possible at any time from the Binance account. You can withdraw sums up to the amount of your account balance, keeping aside the perimeter utilized. 1 thing to remember is that you don't always need to have any money in your account.
Moreover, the withdrawn money will be transferred directly to the accounts you use to create deposits. Therefore, in the event that you used a credit card for deposits, the withdrawn money is going to be sent to the card. Binance will ask you to provide other withdrawal methods if your details have changed since your deposit.
There is a minimum withdrawal amount. In case you're withdrawing money in various currencies from USD, a conversion fee is also important. The conversion fee will depend on the money you are opting to withdraw in.
Binance Review - Inactivity Fees Explained
Understanding whether you will be charged inactivity fees is one of the buzzing questions which run through your head while open an account with Binance. An inactivity fee is an amount charged to registered dealers that have not engaged in purchasing or selling for some time. The period considered inactive is decided by the agent.
The inactivity fee also differs from one broker to another and isn't standardized. If a dealers account doesn't have a buying or selling trade, it is claimed by the broker as an inactivity charge. The traders need to pay this commission under terms and conditions that they had consented while registering.
Binance doesn't charge inactivity fees so you are free to use your account as needed
Even if no fees have been indicated by Binance, it's better for you to close the account if you're inactive. Inactivity fees aren't only charged by brokerage companies but also many financial services.
For other trading platforms, the inactivity fee depends upon the type of account you've selected. The inactivity fee is subjected to a lot of conditions and needs to be revealed clearly by the broker beforehand.
Binance Review - Deposit Fees Explained
When you move money into your trading account by the bank account, a deposit fee can be charged by the broker. Most agents don't charge an excessive amount of money for this operation.
Binance charges a deposit fee for transferring money into your trading account.
Depositing money on the Binance trading platform is simple. You just have to complete a single-user profile survey to begin depositing money into your trading account. You will need to give an identity proof and evidence of residency to deposit substantial sums.
Binance Review - Compare Broker Deposit Methods
What Can You Trade With Binance?
Note: Binance offers many different trading instruments due to regulatory restrictions in various countries. Trading instruments offered may be different based on the country of residence of the client.
Binance has a wide variety of over 52 instruments available for you to trade with.
If trading forex pairs is of interest to you then Binance offer over 80 currency pairs.
Compare Binance, landfx, forexite & Skilling below.
Reviewing The Binance Mobile App
Note: Binance's mobile app has a lot of functionality and is being constantly improved. The table below was correct at the time of compiling this Binance review.
Understand the capabilities of the mobile apps of Binance, landfx, forexite & Skilling below.
Alternatives To Binance
If, after reading this Binance review, they do not meet your requirements check out these Binance alternatives.
We've scoured the web to find the best alternatives to Binance. Click the links below to learn more.
Frequently Asked Questions about Binance
Can I try Binance before I buy?
Yes, you can most definitely try Binance before you buy. Binance provides demo accounts for the convenience of beginner traders. You can use this feature to build your faith in the system and yourself and your trading strategies.
If you sign up to get a demonstration account on Binance, you may set out using a decent amount of virtual money. It's to establish a feeling of security and confidence in you until you choose to spend your own money.
With this virtual Binancedemo account, you are able to experiment in any way, to whatever length you desire. You might even start positions, examine different trading strategies, and more.
Binance specifies on its official website which you can trade real time stocks with your demo account.
Is Binance safe?
You can drop all your worries because we believe that Binance is totally safe to use. It is in compliance with the rules of Unregulated.
Even so, Binance does not provide assured stop-loss protection.
Why does Binance ask for my passport?
The reason that Binance asks for your passport when you open a live account is to ensure that it remains within the rules of its regulated bodies. Because there is a lot of money moving around the world, Binance has to be careful that they don't breach any money laundering laws and part of that is know as KYC (Know your customer). This means that at all times, Binance must know exactly who they are dealing with so that if there is any investigation they are comfortable that they are well within the law.
How can I start trading with Binance?
The process to start trading withBinance is perhaps simple enough to be a cakewalk. You need to begin by signing up on the Binance website. It will require you to fill in details pertaining to the credibility and security of your account.
Once you are done setting up your profile, you must deposit a minimum amount to get started. The minimum deposit for a live account with Binance is $100. You should have a good hold over the details of online trading before you set out and trade with real money.
If you are confident of your knowledge and understanding, you can open an account with Binance.
The best way to kickstart your trading career with Binance is to open a demo account facility before risking any real money
What funding methods do Binance accept?
There are multiple methods to finance your accounts with Binance. The process is effortless and quick, with different payment methods at your fingertips.
You can use debit or credit cards ranging from Visa, Diners, and Maestro to MasterCard and Visa Electron. PayPal can be at your disposal for depositing money. You must keep in mind that PayPal isn't available in all country. The monies Binance
Is my money safe with Binance?
Yes, your money is safe and protected with Binance. As you know, Binance works with good conformation to. It's established plenty of steps to guard all of its investors.
Binance protects its clients' personal and sensitive data under SSL encryption. Your funds will be kept highly secure in top-tier banks.
If you want to further safeguard your accounts, it is possible to empower Two-Step Verification as well. It takes an SMS confirmation that you access your accounts.
Is Binance trading good?
Yes, trading through Binance is a nice and decent experience indeed. It is a great and intuitive platform with helpful features for your ease. Moreover, you could even obtain access to a huge selection of educational resources and assistive substance to kickstart your trading experience.
If you are still skeptical, it is possible to open a eToro demo account and assess the credibility of the platform for yourself.
Which Countries does Binance support?
Binance operates across the world. However, due to regulations there are some countries that Binance cannot accept clients from BR, KR, IR, IQ, SY, JP, US
Is Binance legit?
Binance is a legit company headquarted in Japan since 2017. They are regulated by Unregulated. Binance is an acclaimed fintech company, which operates with transparency. You will not have to bear any hidden costs or be a victim to any scams.
Is Binance a good broker?
Binance is a great agent, and its users may vouch for this. The highlight of the platform is its quick order execution on trades.
You will discover the clean design of the platform and the admirable features a pleasure to work with.
Is Binance a trustworthy broker?
Yes, Binance is a trustworthy broker. Top-tier financial authorities regulate all operations. Over 13500000 users registered with them can reaffirm their trustable nature.
What is the minimum deposit for Binance?
The minimum deposit to open a live account with Binance is $100
How long do Binance withdrawals take?
Normally, withdrawal of money from Binance is actioned within a couple of working days but depending on the withdrawal method chosen, it could take up to 7 working days for the withdrawal from Binance to show in your bank account.
Are Binance regulated?
Binance are regulated by Unregulated
Is Binance a market leading broker?
Binance is currently one of the business leaders. It has over 13500000 registered users and over 4 years of experience on its record. They are one of the world's top trading platforms and a prominent figure in the Fintech revolution.
It majorly owes this status to its unbelievable platform and wide range of resources plus tools so that you may put money into capital markets.
Is Binance a con?
No, Binance is not a con. They are regulated by Unregulated and must adhere to their rules. Thus, it is safe to say that Binance is not a scam.
Can you make money with Binance?
Through Binance, several traders make a great deal of cash. However, typically, through continual trading, you also can create between 2% - 10% profit a month.
This may seem like a little number, but within the year, this adds to a significant amount of gains. While Binance supply you all of the tools to earn money, they can't guarantee you will profit.
Does Binance have fees?
Yes. To begin trading with Binance, you need to deposit $100. Particular commissions while trading additionally applies. Any processing fees from your bank will have to be incurred by you.
When was Binance founded?
Binance was founded in 2017 in Japan. Binance is regulated by Unregulated.
How many people use Binance?
Binance is a globally recognised broker with 13500000 customers.
Where is the Binance head office?
Binance has its head office in Japan
Does Binance offer negative balance protection?
Yes, Binance has Negative Balance Protection. It's especially offered when the market volatility prevents customers from allowing their account go into the red. In a situation like this, Binance offers the ability to reset a customers account balance to zero.
You should go through the critical stipulations on Binance's site to understand their policies better.
Does Binance offer guaranteed stop loss?Binance regrettably, doesn't provide guaranteed stop loss. Binance gives a chance to its traders to close their trade in their given price. Aside from that, Binance doesn't offer guaranteed stop loss.
Does Binance allow scalping?Yes, Binance do permit scalping. Many traders throughout the world select Binance for their scalping services. They offer trading on Desktop, Android, iPhone/iPad, Mac which let this.
Does Binance allow hedging?
Yes, Binance does allow hedging.
Can you trade energies with Binance?
No, unfortunately you cannot trade energy stock with Binance
Can you trade agricultural shares with Binance?
No, unfortunately you cannot trade agricultural stock with Binance
Can you trade cryptocurrency with Binance?
Yes, you can trade cryptocurrency with Binance
Can you trade metals with Binance?
No, unfortunately you cannot trade metals with Binance
Can you trade UK Shares with Binance?
No, unfortunately you cannot trade UK shares with Binance
Can you trade US Shares with Binance?
No, unfortunately you cannot trade US shares with Binance
Can you trade Japanese Shares with Binance?
No, unfortunately you cannot trade Japanese shares with Binance
Can you trade German Shares with Binance?
No, unfortunately you cannot trade German shares with Binance
Does Binance accept bank transfers?
Yes, Binance accepts bank transfers for depositing money.
Does Binance accept credit cards?
Yes, Binance accepts credit cards for depositing money.
Does Binance accept PayPal?
No, Binance does not accept PayPal.
Does Binance accept Skrill?
No, Binance does not accept Skrill.
Does Binance accept Payoneer?
Yes, Binance accepts Payoneer for depositing money.
Does Binance accept Neteller?
No, Binance does not accept Neteller.
Does Binance offer Live Chat customer support?
Yes, Binance offers customer support through live chat.
Does Binance offer phone customer support?
Yes, Binance offers customer support over the telephone.
Does Binance offer email customer support?
Yes, Binance offers customer support through email.
What languages can Binance communicate in?
Binance has the ability to communicate and support customers who speak: English, and Chinese
Does Binance have a wikipedia page?
Yes, Binance does have a wikipedia page. It can be found at https://en.wikipedia.org/wiki/Binance
Does Binance offer demo accounts?
Yes, Binance offers demo accounts so you can learn their systems before risking any real capital. Inexperienced traders can open a demo account in order to become better acquainted with the aspects of Forex trading and test out some of the company’s features before risking a live account.