Binance Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- Proprietary platform
- Investment program available, copy trading
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- Proprietary platform
- Investment program available, copy trading
Our Evaluation of Binance
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Binance is one of the top cryptocurrency exchanges in the financial market with the TU Overall Score of 9.56 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Binance clients on our website, Traders Union expert Anton Kharitonov believes he can recommend this company as the majority of reviews prove that the broker’s clients are fully satisfied with the company.
Binance is one of the most popular cryptocurrency exchanges with its proprietary platform based on the TradingView toolkit. It is good for diversifying risks for active cryptocurrency traders.
Brief Look at Binance
The Binance exchange is one of the largest cryptocurrency exchanges in the world with its headquarters in Hong Kong. According to the CoinMarketCap cryptocurrency portal, Binance holds the top spot in terms of aggregate indicators of the platform's daily turnover, the number of novices and active users, liquidity, and web traffic (ranking, queries, statistics in search engines, etc.). The exchange is also a cryptocurrency startup that has its own “native asset” used in the Binance ecosystem as the “basis gas” (payment internal unit). More about Binance Card
- low commissions due to liquidity and trading volumes.
- high platform performance;
- proprietary BNB Coin which allows Binance to reduce the commission size;
- a proprietary cold wallet guarantees the security of your crypto assets by storing them.
- complex verification procedure;
- the exchange is not licensed by a regulator;
- The platform can go offline without warning;
- there are complaints about the technical functionality of the platform;
- there is an intricate mechanism for calculating commissions and rewards (grid system Maker/Taker).
TU Expert Advice
Financial expert and analyst at Traders Union
Binance is a novice exchange that appeared at the time of the peak growth of cryptocurrencies in 2017. Despite the subsequent drawdown, it continues to show positive financial results. The reason for its success is the unique combination of a technological platform with extra "schtick”, such as passive investment opportunities, your own tokens, etc. Binance is not only a cryptocurrency exchange, it is also a platform for creating your cryptocurrency business projects (Binance Launchpad), a business incubator, and a charitable foundation.
Binance's tools arsenal contains around 400 cryptocurrencies, with almost 1200 pairs for trading.
A Maker/Taker reward grid is provided for active traders. It provides for the payment of extra remuneration depending on the trading activity.
In comparison with Forex brokers, the Binance functionality and capabilities are wider, therefore this exchange can be recommended for professional active cryptocurrency traders. Binance is included in the Traders Union rating of cryptocurrency exchanges due to the platform's constant improvement and the responsible fulfillment of obligations to traders. Detailed instructions on how to use Binance for trading and investing.
- You're prefer Binance Coin (BNB) holdings. Binance users who hold BNB benefit from various perks, including reduced trading fees and participation in token sales. BNB offers additional advantages within the Binance ecosystem, making it a valuable asset to hold for traders seeking cost-saving opportunities and access to exclusive features.
- You prioritize liquidity and high trading volume when selecting an exchange, as Binance consistently ranks among the top exchanges in terms of liquidity and trading volume, ensuring smoother transactions and optimal price execution for traders.
- You value a user-friendly interface that caters to both beginners and experienced traders. Binance's platform is known for its intuitive design, allowing users to navigate seamlessly and execute orders efficiently.
- You are not comfortable if the exchange lacks proper licensing from a regulatory authority in your respective region. Regulatory compliance is essential for ensuring the security and legality of trading activities, and the same may not be omni-existent for Binance.
Binance Summary
Your capital is at risk. Cryptocurrency trading can be extremely risky. Cryptocurrency trading can lead to large and immediate financial losses. The volatility and unpredictability of the price of cryptocurrency relative to fiat currency may result in significant loss over a short period of time. Transactions in cryptocurrency may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable. The nature of cryptocurrency may lead to an increased risk of fraud or cyber attack.
| 💻 Trading platform: | Proprietary platform powered by TradingView |
|---|---|
| 📊 Accounts: | Demo, standard, P2P platform |
| 💰 Account currency: | EUR, USD, other currencies, and cryptocurrencies |
| 💵 Replenishment / Withdrawal: | Bankcard, credit cards, P2P cryptocurrency exchange, third-party services |
| 🚀 Minimum deposit: | From $1 |
| ⚖️ Leverage: | Up to 1:125 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | From 0 |
| 💱 Commission: | 0.1% |
| 🔧 Instruments: | Cryptocurrencies |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Limit order, Market order |
| ⭐ Trading features: | Investment program available, copy trading |
| 🎁 Contests and bonuses: | Periodically |
Binance offers some of the lowest fees in the cryptocurrency market due to its high liquidity. Nevertheless, the trading terms should be classified as mid-market.
Binance provides favorable conditions for withdrawing money.
Binance US is a cryptocurrency exchange that became available to traders from the United States in 2019. A detailed review of Binance US is here.
Share your experience
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Nehal Shah 
Verified
PK Peshawar 
Best Company
No such weakness
Vasiliy
Verified
PH Cebu City
the ease of use, Binance app, never had issues, excellent overall trading experience
non
Milena
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AM Yerevan
security verification methods
no weaknesses
Commissions & Fees
| Account type | Commission (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | from $6 | Yes |
A comparative analysis of Binance commissions with similar values to other cryptocurrency exchanges was also carried out. The below ranking was made based on this analysis. Compare Binance and Gemini trading and non-trading fees here.
| Broker | Average commission | Level |
|---|---|---|
|
$6 | |
|
$20 | |
|
$18 |
Investment Programs, Available Markets, and Products of the Crypto Exchange
Binance investment programs are integrated into the active trading functionality. If you buy/sell cryptocurrencies you will automatically get extra bonuses that can be used to reduce commissions. There are also classic investment programs based on their proprietary BNB token, which are analogous to deposits.
Maker/Taker and Lending/Staking — the heart and mechanism of investment
Maker/Taker is Binance's investment program that accumulates commission discounts based on trader activity. A “Maker” is a person who sets pending orders; a “Taker” sets market orders. A trader is assigned a level from Regular User to VIP 9 depending on the aggregate monthly turnover and the BNB holdings. The higher the level, the lower the commission for buying/selling cryptocurrency. Users have the option to receive a 25% discount on trading fees when paying by BNB.
Examples of Spot and Margin trading commissions:
Regular User. Turnover less than 1,000,000 USD per month (equivalent), Maker/Taker commission is 0.1/0.1, and 0.075/0.075 if paid with BNB, respectively;
VIP 4. For turnover of more than 100,000,000 USD and BNB balance over 500 BNB, commissions shall be: 0.042/0.054 and 0.0315/0.0405;
VIP 7. For turnover of more than 800,000,000 USD and BNB balance over 3000 BNB, commissions shall be: 0.024/0.036 and 0.018/0.027.
Lending is an investment program that provides for investments in individual deposit projects or structured products. Staking means getting extra profit for storing cryptocurrency on a Binance account with blockchain. Staking also implies the ability to connect to the Binance Pool for Bitcoin mining.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Binance affiliate program
This is a classic referral program with cashback. It provides for getting up to 40% of the commission paid by the referral.
Cashback with a partner's balance of up to 500 BNB is up to 10%; with more than 500 BNB it is up to 20%.
User Satisfaction