Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
Pros & Cons
- Low trading fees.
- Multifunctional P2P platform.
- Two-factor authentication (2FA).
- High liquidity and trading volume.
- Secure Asset Fund for Users (SAFU).
- Access to spot, futures, and options markets.
- Opportunities for passive income (staking, savings).
- Regulatory pressure and geographical restrictions.
- Complex interface for novice investors.
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
TU Expert Verdict
I can confidently recommend Binance — it is a highly trusted company that I have personally tested and verified. Its trading conditions and user feedback show that most traders are satisfied, and my own experience confirms its solid and consistently reliable performance.
Top-5 Crypto Exchanges Traders Prefer
Binance User Reviews
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5-star
23%
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4-star
41%
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3-star
36%
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2-star
1%
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1-star
0%
It is difficult for a newcomer to understand the whole functionality of the site 13:40
I like Binance’s trading terminal. It is modern, sleek, and shows relevant information you need for your trades spot on. At the same time, it is not intimidating to navigate around which is a common problem for crypto platforms that prioritize a modem vibe in their UI. It instantly shows the summary of my crypto portfolio, the distribution between assets and the amount, and has the daily PnL (profit and loss) record for the day. This way it is so easy to track which assets performed well in the last 24 hours and which ones lagged behind. I like to hold only a handful of assets for easy traceability of my wins. But even when I add a couple more, it is still uncomplicated to make sense of my stats. Love that crypto is now in a rollercoaster that only goes up and seeing all those greens in my portfolio gives me a great sense of motivation.
No such weakness
Prefer using Binance because of their low fees. They are the catalyst of low trading costs at a time users are sick of getting burned by high trading fees on platforms like Coinbase. I remember clearly that upon its entry in the market, these platforms all raced to lower their fees because of knowing they will clearly lose market share to this newcomer. Binance has had a 0.1% spot trading fee since the beginning. Because it’s low I never bothered to check if they charge the exact amount in all of my trades, in small or big amounts. I just know that they always offer the best prices for the assets that I trade (I only trade in the spot market) and have an extensive list of tradable tokens. Cheap + flexible… the best one in the crypto market yet.
No such weakness
Binance has been super flexible when it comes to payment methods. It offers the usual mediums like bank deposit, debit card/credit card, crypto deposit, while also supporting newer ones like my favorite e-wallet. Integrating my e-wallet with my Binance account made all the withdrawals instant whenever I sell USDT in the P2P marketplace. The conversion rate is also attractive, making this method favorable to those who are frequently buying and selling on the platform. I withdraw money from them at least once a month and never experience delays. On a side note, I always use the same e-wallet account and had not tried doing it using bank transfers because of fees associated with doing so. There is no fee on this method so I prefer to use it over others.
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Binance Commissions and Fees
Score:This category evaluates trading costs and the transparency of deposit and withdrawal charges according to the Methodology. It covers spot and futures trading fees, P2P exchange costs, deposit/withdrawal fees, and tiered fee structures. The assessment ensures that fees are competitive and clearly disclosed, avoiding hidden or excessive costs. Each factor is scored based on defined criteria, contributing to the overall rating.8.5 /10Binance has earned a rating of 8.5/10 for its trading fees. This makes it a highly attractive choice for active traders seeking to reduce costs, as Binance is a platform with minimal crypto trading costs.
- Futures fees below industry average
- Spot fee below industry average
- No deposit fee
- Withdrawal fee may be applied
- P2P fee applied
What are Binance trading fees?
We analyzed Binance’s crypto fees and compared them to the top two competitors, both of which hold high average positions in our rankings. To establish a comprehensive benchmark, we also calculated the average fee score based on an evaluation of over 100 cryptocurrency exchanges.
Binance trading fees vs competitors
Binance Nexus Trade CoinMetro Industry average Based on the evaluation of over 100 leading crypto exchanges Spot, maker fee (%) Maker fees are charged when liquidity is added to the order book. This occurs by placing a limit order below the current market price for buy orders, or above the market price for sell orders. 0.1 0.22 0.1 0.15 Spot, taker fee (%) Taker fees are charged when liquidity is removed from the order book. This typically happens when a trade is executed at the market price. 0.1 0.22 0.2 0.194 Futures, maker fee(%) 0.02 0 0 0.024 Futures, taker fee(%) 0.05 0 0.053 What are Binance deposit and withdrawal fees?
Deposit fee, % Important! Even if an exchange does not charge fees for deposits and withdrawals, there can also be fees from the payment system or cryptocurrency network used by the user. For example, the network fee for USDT TRC20 is typically around $1. 0 Withdrawal fee, % 0-3.5% Does Binance offer P2P trading?
Yes, Binance offers a P2P trading platform. We have provided the fees for these transactions and compared them with competitors.Binance P2P Fees Binance MaiCoin MAX BTSE P2P maker fee (%) 0,1 0,1 0,01 P2P taker fee (%) 0,1 0,15 0,05 -
Regulation and Safety
Score:Our evaluation encompasses several key factors, including government regulation, two-factor authentication (2FA), cold wallet storage of client assets, investor protection funds, KYC protocol adherence, year of foundation, and history of security breaches. Read more in our Methodology9.8 /10Binance has earned a rating of 9.8/10, demonstrating strong security and regulatory compliance. This score suggests that the exchange is generally reliable and offers a solid level of protection for users.
- Government-regulated
- Investor protection fund
- Tier-1 regulation
- Facial recognition
- Cold wallet storage
- 2FA
- Successful hacks history
- Not U.S regulated
We also compared Binance against the top two competitors with the highest scores in our overall ranking based on the most critical security indicators.
Binance Security Factors Binance Coinbase Kraken Tier-1 regulation YesYesYesGovernment-regulated YesYesYesInvestor protection fund Provides compensation to users in case of financial loss due to unforeseen circumstances on the platform. YesYesNo2FA YesYesYesFacial recognition YesNoNoCold wallet storage The majority of user funds are held offline, reducing vulnerability to online attacks. YesYesYesSuccessful hacker attacks We review publicly available information on past security breaches to assess the exchange's security track record. YesYesNoIs Binance a regulated crypto exchange? Regulation is crucial for the security and legitimacy of a cryptocurrency exchange. We assess the exchange’s regulatory status and its impact on platform reliability.
Binance is regulated by a Tier-1 financial authority (e.g., in the U.S., UK, Germany, Spain, France, Australia, Singapore, or another jurisdictions with strict financial oversight). This ensures strong investor protection, compliance with stringent operational standards, and enhanced security for users trading on the platform.
Binance is authorized or licensed in accordance with local regulations in the following regions: OAM (Italy), FIU (Lithuania), Swedish Financial Supervisory Authority, Bank of Spain, AFSA (Kazakhstan), CASP (Bahrain), VARA (Dubai), FIU-IND (India), Bappebti (Indonesia), JFSA (Japan), FSP (New Zealand), Securities and Exchange Commission of Thailand, DASP (El Salvador), CNV (Argentina).
Is verification (KYC) mandatory at Binance?
Yes, KYC verification is mandatory at Binance. You will need to complete the verification process before you can open an account and access the platform's full range of services.
Is Binance available in the USA?
Binance is not available in the USA due to regulatory restrictions. In some cases, access might differ by state, so we recommend confirming details with the platform’s support or checking the official website for the latest updates.
You may also consider the top 3 exchanges that are available in the USA and rank highly based on our methodology: Coinbase, Kraken, OKX .
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Deposit and Withdrawal
Score:We evaluated the deposit and withdrawal experience, considering several key factors such as the range of available methods, transaction processing speed, minimum deposit requirements, and associated fees. Read more in our Methodology.8.5 /10Binance received a 8.5/10 rating for its deposit and withdrawal services. Binance supports a wide range of payment methods with low or no fees, ensuring fast and convenient transactions.
- Bank transfers for deposits and withdrawals
- Bank cards accepted for instant deposits
- Google Pay supported
- No deposit fees
- Withdrawal fee applies
- No PayPal option
Deposit and withdrawal options
Binance supports the following deposit and withdrawal options: Bank transfers, Bank card, Crypto, Google Pay, Apple Pay.
Binance Deposit and withdrawal options vs competitors
Binance Coinbase Kraken Bank transfers YesYesYesBank card YesYesYesCrypto YesYesYesPayPal NoYesYesWhat is Binance minimum deposit?
The minimum deposit at Binance is 0 USD/USDT or 1 BTC. The minimum trade size is 5 USD/USDT, which also serves as the minimum amount required to start trading on the platform.
Binance minimum deposit vs competitors
Binance Coinbase Kraken Minimum deposit, USD or USDT 0 10 10 Minimum deposit, BTC 1 1 1 Minimum trade amount, USD/USDT 5 2 1 Does Binance support fiat money?
Binance supports fiat currency trading and account funding. The following fiat currencies are accepted: USD, EUR, BRL, UAH, TRY, ZAR, PLN.
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Supported Coins & Markets
Score:Evaluates the range of available cryptocurrencies, fiat currencies, and markets, as well as investment tools like staking, farming, and other yield options. Read more in the Methodology section.10 /10Binance received a score of 10/10 in this category, highlighting its excellent selection of tradable assets and market access. Binance supports 800+ coins and caters to various trading types, making it a strong choice for both active traders and long-term investors.
- Access to TradFi perpetual futures on stocks and indices
- 800+ supported coins
- Trading tokenized real-world assets
- Prediction markets are not supported
Binance supported coins and markets vs competitors
We compared Binance with leading exchanges in terms of supported coins, NFT access, and derivatives like futures and options to help users assess the platform’s product range and trading flexibility.
Binance Coinbase Kraken Supported coins 800+ 400+ 400+ Futures/Perpetual contracts YesYesYesOptions YesNoNoNFTs YesYesYesTokenized Assets Digital tokens representing real-world assets, such as stocks, bonds, commodities, or real estate. YesYesYesTradFi Perps Perpetual futures contracts linked to traditional financial assets, such as stocks, indices, or commodities. YesYesYesPrediction Markets Markets where users trade contracts based on the outcomes of future events. NoNoNoOther Assets Stocks, Pre-IPO Pre-IPO Forex, IPO Binance passive income options vs competitors
We also compared Binance with top competitors in terms of passive income opportunities such as staking, farming, and copy trading, to help users evaluate the platform’s earning potential beyond regular trading.
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Trading Apps & Tools
Score:This section evaluates the quality and variety of trading platforms offered by the broker. It considers supported platforms, core features, device compatibility, and the availability of tools for automation, analysis, and different trading styles. Learn more in our Methodology.9.8 /10Binance received a score of 9.8/10 for its trading apps and tools. Its mobile platforms are highly rated on both iOS and Android, delivering smooth performance, advanced charting capabilities, and real-time market data.
- Fast and secure login with Face ID
- Positive user feedback on the iOS app
- Advanced tools and automation with API
- Advanced charting with TradingView support
- Advanced orders not available
Trading apps
Binance provides web and mobile apps for both Android and iOS users, with an average rating of 4.7 on the App Store and 4.6 on Google Play. Our review focused on core features important to traders, particularly trading functionality and security tools, to evaluate how convenient and safe the Binance platform is for mobile use.
Binance Coinbase Kraken 2FA YesYesYesFace ID YesNoNoMob Indicators YesYesYesAlerts YesYesYesAdvanced Orders These are specialized trading features that give users more precise control over how trades are executed. Examples include Stop-Limit, Trailing Stop, and OCO (One Cancels the Other). These tools may only be available on the web version of the platform. YesYesYesTrading with bots YesNoNoAPI YesYesYesExtra trading platforms These refer to third-party platforms supported by the crypto exchange in addition to its own proprietary system. NoNoNoDoes Binance offer a desktop app?
Yes, Binance offers a desktop app with full trading functionality. It supports advanced charting, fast execution, and is compatible with both Windows and macOS systems.
Does Binance offer advanced charting with TradingView integration?
Yes, Binance offers advanced charting through direct integration with TradingView. Users can access TradingView’s full suite of indicators, drawing tools, and multi-timeframe analysis directly on the platform.
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Customer Support
Score:We evaluated Customer Support at Binance based on the availability of live chat, email, phone support, ticket systems, help center resources, 24/7 assistance, multilingual support, and response time. Our assessment focuses on support accessibility and responsiveness. Learn the assessment criteria9 /10Binance demonstrates a high level of customer support, offering multiple communication channels, convenient access to assistance, and comprehensive support resources.
In TU testing, the exchange performed well in support availability and response speed. Users have access to a reliable support infrastructure for resolving account, deposit, withdrawal, and trading-related questions.
- Comprehensive help center available
- 24/7 customer support available
- Live chat support available
- Email support unavailable
- Phone support unavailable
Binance Support Channels vs Competitors
Binance Coinbase Kraken Live Chat YesYesYesEmail Support NoNoNoPhone Support NoNoNoTicket System YesYesYes24/7 Support YesYesYesHelp Center / FAQ YesYesYesMultilingual Support YesYesYesContacts Foundation date 2017 Official site binance.com
Best Binance Alternatives
Binance Video Guides
FAQs
How safe and regulated is the Binance cryptocurrency exchange?
Binance has a safety score of 9.8/10, reflecting strong security measures and Tier-1 regulation under government oversight. The exchange uses tools such as 2FA, facial recognition, cold wallet storage, and an investor protection fund, although it has a history of successful hacks and is not regulated in the U.S.
What deposit and withdrawal options are available at Binance?
Binance supports deposits and withdrawals via bank transfers, bank cards, cryptocurrencies, Google Pay, and Apple Pay. There are no deposit fees, but withdrawal fees apply, and PayPal is not supported.
What do user reviews and feedback say about Binance?
Binance has a user satisfaction score of 7.7/10 based on 356 reviews, with most users assigning 4- or 5-star ratings. According to user reviews, 23% gave 5 stars, 41% gave 4 stars, and only a small share rated the exchange 1 or 2 stars.
Which coins and markets can users access on Binance?
Binance offers a markets and tradable assets score of 10/10 and supports over 800 coins. The exchange provides access to futures, perpetual contracts, options, NFTs, tokenized assets, TradFi perpetuals, and other assets such as stocks and pre-IPO instruments, along with staking, yield farming, and copy trading.
How effective is Binance customer support?
Binance has a customer support score of 9/10 and offers 24/7 multilingual assistance through live chat, a ticket system, and a detailed help center/FAQ. Phone and email support are not available, but users can receive help on account, deposit, withdrawal, and trading questions through the existing channels.
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