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Binance Guide – Read our In-Depth Binance Review

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 US users.

This Binance review contains the latest information about Binance.

If you are a new entrant in the realm of trading and broker, so many facts will be perplexing for you. Getting into the world of trading demands expert assessing skills and comprehensive understanding. You will acquire proficient at all of the concepts of brokerage as you keep trading. For starters, you need to select the right agent who'll be transparent with you always.

Within this fast-paced universe of stock markets and trading, you'll need guidance to make correct decisions. A professionally direct investment program will generate hefty returns. Binance is just one such platform which will take you along with your investment to great heights. It is crucial that you understand all about Binance before you trust them with your cash.

Binance review

Our full Binance Review covers all you need to know about trading with Binance. A good agent can multiply your first investments and give you favorable profits. If you want to make profits, you must trade with a broker service that contrasts with your investing goals.

There is no sure-fire method to guarantee profits; thus, you should carefully analyze your broker before you select them. It is a frequent misconception that all agents are the same, but that is not true. Wrong judgment, initially, can set your investments in danger.

Binance is a broker that has found its way successfully to the broker world. In this review, we've tried to collate some of the important facets of Binance. This review will help you to know whether Binance is a good match for your investments or not. We've tried to breakdown all the qualities and fees for your convenience.

Binance Review, Table Of Contents

Who are Binance?

Binance is a foreign exchange broker headquartered in Australia and provides a range of instruments for trading. Since its beginning in 2011, Binance has emerged as a top player in the field of online brokerage. Binance includes an extremely competitive and full-featured trading website that's focused on currency, indices, metals, sharesand commodities.

Over the past 10 years, Binance has grown into one of the leading online brokers.

After launching in 2011, their client base is becoming as large as 10,000+ clients.

Binance is the favorite of many dealers.. Our Binance review discovered that they're an excellent choice for automated trading solutions. It is best suited for investors that are looking for a variety of assets. Social and automated trading options are the core at Binance.

Technology plays a significant role in Binance. Binance offers trading on Desktop,Android,iPhone/iPad,Mac. Binance is fair, transparent, and also a well-regulated broker by the Unregulated. Their outstanding variety of resources will be beneficial for the majority of traders. Third-party partnerships also provide in-house research.

The trader resource section at Binance is very insightful for new dealers since it allows them to have a closer look in the financial markets. Binance caters to all sorts of traders and are a must-have broker for any well-diversified method of trading.

Benefits of doing online trading with Binance?

Trading with Binance comes with numerous advantages. These advantages are what sets Binance apart from all other online brokers. You need to check all the advantages listed so that you have a better understanding of Binance.

The agent goes to great lengths to understand what dealers want. As a result, the support price is low, fast, and convenient. The broker also gives a variety of platforms for all kinds of traders. Binance helps to ensure that the individual needs of all online traders are completely met.

Binance also features excellent trading conditions which are available to just an elite class of institutional customers. The tight spreads and fast executions are a fantastic benefit for those traders. The technology embraced by Binance is among the highest caliber, ensuring that it's fast, dependable, and effective.

Binance acknowledges the importance of having a fast order execution. A fast implementation will allow users to exchange without fretting about slippage safely. It will also aid the traders to catch the utmost profitable opportunities.

Automated trading is another major aspect of Binance. A new trader can learn from business experts using the automatic trading alternative. The tight spread starts from as low as 0.0 pips, even though they are offered for only razor balances.

Binance has over 52 trading instruments to support all types of traders. These tools are dynamic and suitable for both the new and seasoned traders. The dealers can set aside all their worries when trading with Binance.

Binance overview

Year Founded: 2011

Regulated By: Unregulated

Hedquarters: Australia

Minimum Deposit: $100

Number Of Clients: 10,000+

Your capital is at risk

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.

What you ought to know about trading with Binance

Binance is a dynamic platform that offers various techniques of trading. These tools cover the monetary markets substantially. The Majority of the brokerage platforms provide less methods than Binance

If you would like to trade with Binance, you will require a minimum deposit of $100. This deposit is compulsory if you would like to begin trading with Binance. This 2021 Binance review will guide you safely about trading with them.

Binance is as flexible as any other broker platform. Binance is ideal for traders who want a manageable selection of cheap services. The programs supplied by Binance are third party, white-label offerings. All traders may select out of Desktop,Android,iPhone/iPad,Mac.

Together with everything, Binance has multiple benefits to new and verteran traders and should be investigated. There's no minimum time on which a trade must be kept open. The agents provide premium client service which rewards customers with benefits.

Many unprofessional brokers attempt to pressurise customers into larger funding for superior services. Binance, on the other hand, is much more focused on trading volume. Dealers can expect trading conditions to be fair, honest and transparent. The more lots traded by the user, the more advantages will come along.

Binance accounts are available around the world and provides quality service everywhere they have clients. There are some select few countries where Binance accounts are not available. Traders in the following countries cannot open or use a Binance account:

Is Binance Safe To Trade With?

Launched in 2011, Binance has been in operation for 10 years, they are headquarted in Australia.

Binance is regulated by Unregulated. These bodies have rules that mandate that trading platforms have ploicies in place to maintain investor's assets secured. This means that Binance users do not need to be worried about their money as it is segregated and safely stored in established banks. SSL encryption secures every user's personal information as well.

You are able to make use of an option for Two Factor Authentications (2FA) with Binance for increased security. An SMS for the confirmation code will be sent to a mobile phone. You'll be asked to input this code to log in to your accounts.

Another concern with fiscal brokers is in respect to security may be manipulation of trading. This is highly disadvantageous for users on those platforms. However, this is more prevalent in the case of Market Maker brokers who compete with customers on the stage.

Pro's & Con's Of Trading With Binance

Every online trading platform has some pros and cons Binance review would be complete without having a balanced approach. 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 Pro's

  • Binance is trusted by 10,000+ clients
  • Binance doesn't charge withdrawal fees
  • Binance doesn't charge inactivity fees
  • Binance doesn't charge deposit fees
  • Binance doesn't charge CFD fees
  • Binance offer trading on Desktop,Android,iPhone/iPad,Mac
  • Binance offer 52 trading instruments
  • Binance offers trading on cryptocurrencies
  • Binance can communicate in

Binance Con's

  • Binance does not offer Negative Balance Protection
  • Binance does not offer Guaranteed Stop Loss
  • Binance doesn't trade major forex pairs
  • Binance doesn't trade minor forex pairs
  • Binance doesn't trade exotic forex pairs

Binance Review - Compare Brokers Similar To Binance

Binance City Index Degiro ForexTB
Rating 4/5 4/5 4/5 4/5
Minimum Deposit $100 $25 $0 $250
Year Founded 2011 1983 1934 2015
Headquarters Australia UK Netherlands Cyprus
Regulated By Unregulated Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Monetary Authority of Singapore (MAS) Financial Conduct Authority (FCA), The Netherlands Authority for the Financial Markets (AFM), The Dutch Central Bank (DNB) Cyprus Securities and Exchange Commission (CySEC), CIF license number 272/15
Clients 10,000+ 14,000+ 600,000+ 5,000+
Find Out More
Risk Warning Your capital is at risk 74% of retail investor accounts lose money when trading CFDs with this provider Your capital is at risk CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.80% of retail investor

Binance Review - Regulation And Licencing In More Detail

Binance is regulated by Unregulated.

Binance, as a business, has a powerful set of rules for ensuring fair trading onto its own platform. For data encryption purposes, it provides an industry-standard secure socket layer (SSL).

In accordance with the organization's privacy regulations, customer data is never to be shared with any other institutions or individuals. Including credit history and other financial details.

Binance Review - Awards

    At the time of writing this Binance review, they had not received any awards.

Binance Review - Minimum Deposit Required

The minimum deposit you must deposit to get started on Binance is $100. This is an adequate amount for people just beginning. It's possible to make more complex deposits as you go along. But, ensure that you understand how to make the most of your money before investing in larger sums.

Binance Review - Commission And Fees Explained

Binance is an online brokerage platform, and most online brokerages charge lower fees than traditional brokerages tend to charge. The reason for this is that the companies of online brokerages are scaled much better. In other words, an internet broker is not necessarily affected by the number of clients they have.

However, this doesn't mean that online brokers do not charge any fees. They charge fees of varying rates for a variety of services to make money. There are mainly three different types of fees for this purpose.

The first sort of charges to keep an eye out for are trading fees. When you make a genuine trade, like purchasing a stock or an ETF, you're charged trading fees. In these instances, you're spending a spread, funding speed, or a commission. The kinds of trading fees and the rates vary from broker to broker.

Commissions could be fixed or dependent on the traded volume. On the other hand, a spread refers to the difference between the buying and selling cost. Funding or overnight rates are people who are billed when you hold a leveraged position for more than a day.

Aside from trading charges, online brokers also charge non-trading fees. These are dependent on the actions you undertake on your accounts. They are billed for operations like depositing cash, not trading for long periods, or withdrawals.

In general, Binance doesn't charge high fees in comparison to other online agents. For operations other agents charge for, they do not charge a brokerage fee, or they charge a lesser sum. This can be beneficial for those who often trade, such as daily or weekly trading.

But, non-trading fees billed by Binance are relatively lower. Consequently, you are billed more for non-trading activities on your trading account, such as withdrawal and deposits. These are not related to the sale and purchase of assets.

This Binance review breaks down every one of the relevant non-trading charges for you in detail.

Compare broker fees against Binance

Binance City Index Degiro ForexTB
Minimum Deposit $100 $25 $0 $250
Withdrawal Fees $25 $35 variable variable variable
Inactivity Fees Yes No No
Deposit Fees variable No No
CFD Fees 0.0015 Yes

Binance Review - Withdrawal Fees Explained

Binance doesn't charge withdrawal fees

Withdrawal of cash is possible at any time from your Binance account. It's possible to withdraw sums up to the sum of your account balance, keeping aside the perimeter utilized. 1 thing to remember is that you don't necessarily have to have any money in your account.

Moreover, the withdrawn money will be transferred directly to the account you use to make deposits. Therefore, in the event that you used a credit card for deposits, then the withdrawn money will be sent to the card. Binance will ask you to offer other withdrawal methods if your details have changed since your deposit.

There is a minimum withdrawal amount. In case you are withdrawing cash in different currencies from USD, a conversion fee is also important. The conversion fee will be dependent on the money you're choosing to withdraw in.

Binance Review - Inactivity Fees Explained

Understanding whether you will be charged inactivity fees is only one of the buzzing questions which run through your mind when open an account with Binance. An inactivity fee is an amount charged to registered traders who have not participated in buying or selling for a while. The period regarded as inactive is determined by the broker.

The inactivity fee differs from 1 broker to another and is not standardized. If a traders account does not have a purchasing or selling trade, it's maintained by the broker as an inactivity charge. The traders have to pay this commission under terms and conditions that they had consented while enrolling.

Binance doesn't charge inactivity fees so you are free to utilize your account as needed

Even if no charges have been indicated by Binance, it is better that you close the account if you are inactive. Inactivity fees are not only charged by broker companies but also many financial services.

For other trading platforms, the inactivity fee depends on the sort of account you've chosen. The inactivity fee is subjected to many circumstances and should be disclosed clearly by the agent beforehand.

Binance Review - Deposit Fees Explained

When you transfer money in your trading account by the bank account, a deposit fee can be charged by the broker. Most brokers do not charge too much money for this operation.

Binance doesn't charge deposit fees so you are free to transfer smaller amounts of money in more regularly if needed

Depositing money on the Binance trading platform is simple. You simply have to finish a single-user profile survey to begin depositing money into your trading account. You'll have to provide an identity proof and proof of residency to deposit large sums.

Binance Review - Compare Broker Deposit Methods

Binance City Index Degiro ForexTB
Minimum Deposit $100 $25 $0 $250
Credit Card Yes
PayPal Yes
Neteller No
Skrill No
Payoneer Yes

What Can You trade With Binance?

Note: Binance offers many different trading instruments due to regulatory restrictions in many countries. Trading instruments offered can differ 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 forex pairs.

Compare Binance, City Index, Degiro & ForexTB below.

Binance City Index Degiro ForexTB
Platforms Desktop, Android, iPhone/iPad, Mac MT4, Web Trader, Tablet & Mobile apps MetaTrader 4 MT4, Web Trader, Tablet & Mobile apps
Instruments Available 52 12,500 84 100
Forex & Crypto
Forex Pairs Available 100 0 50
Offers Major Forex Pairs? No Yes No Yes
Offers Minor Forex Pairs? No Yes No Yes
Offers Exotic Forex Pairs? No Yes No Yes
Offers Cryptocurrencies? Yes Yes No Yes
Commodity CFD's
Commodities Offered 0 26 0 0
Trade Metals? No Yes Yes No
Trade Energies? No Yes Yes No
Trade Agricultural? No Yes Yes No
Indiced & Stock CFDs
Stocks Offered 26 0 0
Trade UK Shares? No Yes Yes No
Trade US Shares? No Yes Yes No
Trade German Shares? No Yes Yes No
Trade Japanese Shares? No Yes Yes No

Your capital is at risk

74% of retail investor accounts lose money when trading CFDs with this provider

Your capital is at risk

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.80% of retail investor

Alternatives To Binance

If, after studying this Binance review, Binance doesn't quite fulfill your needs check out these Binance alternatives.

We've scoured the internet 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 inexperienced traders. You can use this feature to build your faith in the system and yourself and your trading strategies.

If you register for a demo account on Binance, you will set out with a decent amount of virtual money. It is to establish a feeling of security and confidence in you until you decide to invest your own money.

With this digital Binancedemo account, you are able to experiment in any way, to whatever length you wish. You might even open positions, examine different trading strategies, and much more.

Binance specifies on its official website that you can exchange real time stocks in a demo account.

Is Binance safe?

You can drop all your worries because we believe that Binance is perfectly safe to use. It is in compliance with the rules of Unregulated.

Nevertheless, Binance doesn't 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 acocunt with Binance is $100. You should have a good hold over the nuances 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 various payment methods at your fingertips.

You can use debit or credit cards Which range from Visa, Diners, and Maestro to MasterCard and Visa Electron. PayPal can be at your disposal for depositing funds. You must bear in mind that PayPal isn't available in every place. The monies Binance

Is my money safe with Binance?

Yes, your money is safe and secure with Binance. As you already know, Binance works with good conformation to. It has established plenty of steps to protect all of its own investors.

Binance safeguards its customers' private and sensitive information under SSL encryption. Your capital will be retained highly secure in top-tier banks.

If you wish to further protect your account, it is possible to enable Two-Step Verification also. It takes an SMS affirmation 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 also gain access to a vast selection of educational tools and assistive material to kickstart your trading experience.

If you remain skeptical, it is possible to start a eToro demo account and evaluate the trustworthiness of the platform on your own.

Which Countries does Binance support?

Binance operates around the world. However, due to regulations there are some countries that Binance does not accept clients from

Is Binance legit?

Binance is a legit company headquarted in Australia since 2011. 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 broker, and its users may vouch for it. The highlight of the platform is its quick order execution on trades.

You will discover the clean design of the platform and the commendable 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 10,000+ 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 indisputably one of the industry leaders. It supports over 10,000+ registered customers and over 10 years of expertise on its record. They're among the world's top trading platforms and a dominant figure in the Fintech revolution.

It simplifies this standing to its incredible platform and broad range of resources plus tools so you can invest in 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?

Using Binance, many traders make a lot of cash. However, on average, through consistent trading, you can create between 2% - 10% profit a month.

This can look like a little number, but within the entire year, this adds to a significant amount of gains. Even though Binance supply you all the tools to make money, they can't guarantee that you will profit.

Does Binance have fees?

Yes. To begin trading using Binance, you have to deposit $100. Certain commissions while trading also apply. Any processing fees from your bank might need to be incurred by you.

When was Binance founded?

Binance was founded in 2011 in Australia. Binance is regulated by Unregulated.

How many people use Binance?

Binance is a globally recognised broker with 10,000+ customers.

Where is the Binance head office?

Binance has its head office in Australia

Does Binance offer negative balance protection?

No. Binance does not provide negative balance protection. If your balance is negative, Binance indicates you promptly contact customer services. With this, you are able to correct any imbalances within your own account.

Does Binance offer guaranteed stop loss?

Binance regrettably, doesn't provide guaranteed stop loss. Binance gives an opportunity to its traders to close their trade at their given price. Aside from that, Binance doesn't offer guaranteed stop loss.

Does Binance allow scalping?

Yes, Binance do permit scalping. Several traders across the world select Binance for their services that are trading. 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?

No, Binance does not accept bank transfers.

Does Binance accept credit cards?

No, Binance does not accept credit cards.

Does Binance accept PayPal?

No, Binance does not accept PayPal.

Does Binance accept Skrill?

No, Binance does not accept Skrill.

Does Binance accept Payoneer?

No, Binance does not accept Payoneer.

Does Binance accept Neteller?

No, Binance does not accept Neteller.

Does Binance offer Live Chat customer support?

No, Binance does not offer customer support through live chat.

Does Binance offer phone customer support?

No, Binance does not offer customer support over the telephone.

Does Binance offer email customer support?

No, Binance does not offer customer support through email.

What languages can Binance communicate in?

Binance has the ability to communicate and support customers who speak:

Does Binance have a wikipedia page?

No, Binance does not have an official wikipedia page.

Does Binance offer demo accounts?

Yes, Binance offers demo accounts so you can learn their systems before risking any real money.