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2.29/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

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
Minimum deposit:
  • $1
Trading platform:
  • Web platform
Trading features
  • Trading without exchange order book
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Our Evaluation of PancakeSwap

2.29/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

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
Traders Union icon

PancakeSwap is a high-risk cryptocurrency exchange with the TU Overall Score of 2.29 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by PancakeSwap clients on our website, Traders Union expert Anton Kharitonov does not recommend working with this broker, as, according to reviews, most clients are not satisfied with the broker.

PancakeSwap is a convenient platform for traders and investors seeking to minimize transaction costs and access unique opportunities in the decentralized finance (DeFi) world. With its advanced execution technology and a wide range of investment options, PancakeSwap can appeal to those looking for new earning opportunities in the cryptocurrency industry.

Brief Look at PancakeSwap

PancakeSwap is a decentralized cryptocurrency exchange (DEX) launched in September 2020 on the Binance Smart Chain (BSC). Operating without intermediaries or regulatory oversight, it allows clients to trade cryptocurrencies directly. PancakeSwap offers a suite of tools, including token swaps, liquidity farming, lotteries, and an NFT marketplace. Investors can earn income by contributing to liquidity pools and staking CAKE tokens, the platform's native cryptocurrency.

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Advantages of trading with PancakeSwap:
  • No requirements for minimum deposits or order volumes.
  • A wide range of investment opportunities, including staking and farming.
  • High transaction speed due to execution through liquidity pools.
  • Support for various BEP-20 tokens and integration with popular crypto wallets such as MetaMask, Trust Wallet, and WalletConnect.
Disadvantages of PancakeSwap:
  • The platform is unregulated, increasing risks for traders.
  • Limited support for tokens from other blockchains besides Binance Smart Chain.

TU Expert Advice

Anastasiia Chabaniuk

Author, Financial Expert at Traders Union

PancakeSwap offers cryptocurrency trading through its web platform, requiring minimal deposits and providing access to a wide array of investment options such as staking and farming. The platform supports a variety of BEP-20 tokens and integrates easily with popular crypto wallets like MetaMask and Trust Wallet. With its focus on decentralized finance, PancakeSwap ensures high transaction speeds through liquidity pools, offering a unique trading model without an exchange order book.

However, PancakeSwap operates without regulatory oversight, which presents risks for traders. It offers limited support for non-Binance Smart Chain tokens, lacks leverage, and imposes relatively high fees compared to industry standards. PancakeSwap may suit traders seeking a straightforward, self-contained DeFi experience, but may not be ideal for those requiring regulatory assurance or engaging in cross-blockchain token investments.

PancakeSwap 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: Web platform
📊 Accounts: Crypto wallets
💰 Account currency: Digital Currencies
💵 Deposit / Withdrawal: Cryptocurrency transactions
🚀 Minimum deposit: $1
⚖️ Leverage: 1:1
💼 PAMM-accounts: No
📈️ Min Order: Not set
💱 Commission: Spot: 0,25%-0,25%
Futures: 0,25%-0,25%
🔧 Instruments: 164 supported coins, Futures, Options.
💹 Margin Call / Stop Out: No
🏛 Liquidity provider: No
📱 Mobile trading: Via device browser
➕ Affiliate program: Yes
📋 Order execution: Through liquidity pools using AMM mechanism
⭐ Trading features: Trading without exchange order book
🎁 Contests and bonuses: Yes

Unlike centralized exchanges, PancakeSwap doesn't have traditional account types. As a decentralized platform, all transactions are conducted directly through connected crypto wallets that support the Binance Smart Chain.

PancakeSwap Key Parameters Evaluation

User Satisfaction i

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ed0055
28 weeks ago

PancakeSwap was one of the first decentralized exchanges I started using. The transaction fees are acceptable, but the absence of limit orders means you have to deal with the risk of slippage. The platform operates on a unique model where all trades go through liquidity pools, ensuring fast order execution. As an additional earning method, I use CAKE Staking, which provides fairly stable returns. While leverage trading isn't available, the platform does offer futures and options trading for cryptocurrencies.

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dodo19683445
28 weeks ago

PancakeSwap's simplicity and range of features make it an appealing platform. Cliens can trade directly through wallets like MetaMask or Trust Wallet without the need for a centralized account. Transaction fees are competitive. While the platform has fully transitioned to an AMM mechanism, the absence of limit orders might be a drawback for some traders. One of PancakeSwap's interesting features is its referral program, which allows traders to earn 3% of the trading fees generated by referred users. However, the lack of leverage limits its appeal for certain trading strategies.

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tuhin0
29 weeks ago

I’ve been using PancakeSwap for several months now. It’s a convenient decentralized exchange, especially for those frequently trading BEP-20 tokens. The 0.25% transaction fee is reasonable. However, the platform lacks support for tokens from other blockchains. PancakeSwap uses AMM (Automated Market Maker) technology for order execution, simplifying the trading process. While limit orders were previously available, they are no longer supported, which might disappoint experienced traders. PancakeSwap offers several passive income opportunities, such as farming and staking its native token, but unfortunately, it doesn’t provide leverage. It’s suitable for those looking for a straightforward way to interact with cryptocurrencies.

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 Methodology
0.75/10

Regulation and safety

PancakeSwap received a score of 0.75/10, indicating a low level of security and regulatory compliance. This suggests that the platform may lack essential protections, and users should exercise extreme caution.

Advantages of PancakeSwap
  • No successful hacks history
Disadvantages of PancakeSwap
  • Not U.S regulated

PancakeSwap Security Factors

We also compared PancakeSwap against the top two competitors with the highest scores in our overall ranking based on the most critical security indicators.

PancakeSwap OKX Kraken
Tier-1 regulation No No Yes
Government-regulated No Yes Yes
Investor protection fund No Yes No
2FA No Yes Yes
Facial recognition No Yes No
Cold wallet storage No Yes Yes
Successful hacker attacks No No No

Is PancakeSwap a regulated crypto exchange?

PancakeSwap is not currently regulated by any government authority, which is still a common occurrence in the cryptocurrency industry. While this doesn't automatically mean PancakeSwap is unreliable, government-regulated exchanges are generally considered more reliable due to the added oversight and client protection they offer.

Is verification (KYC) mandatory at PancakeSwap?

KYC verification is not mandatory for opening an account and trading at PancakeSwap. However, unverified accounts have certain limitations, such as lower withdrawal limits and restricted access to certain features.

In which countries is PancakeSwap available?

PancakeSwap complies with international sanctions and regional restrictions. Services are limited or unavailable in the following countries: Spain, United Kingdom, Australia, Canada, Israel, Cyprus, Sweden, Latvia, Romania, Portugal, Switzerland, Netherlands, Singapore, Iran, Islamic republic, France, Italy, Poland, Belgium, Norway, Czech Republic, Japan, Finland, Bulgaria, Korea, Estonia, Austria, Denmark, Germany, Lithuania, Ireland, Slovakia, Hungary, Iraq, Syrian Arab Republic, Zimbabwe. For the most up-to-date information on regional availability, please contact PancakeSwap support.

Is PancakeSwap available in the USA?

Yes, PancakeSwap is available in the USA. However, availability may vary by state due to local regulations. We recommend checking the official website or contacting support for up-to-date information specific to your location.

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.
4.45/10

PancakeSwap commissions and fees

PancakeSwap received a 4.45/10 score for its commission structure, indicating that its fees are higher than the market average based on an evaluation of over 100 cryptocurrency exchanges.

Advantages
  • No deposit fee
  • No Withdrawal fee
Disadvantages
  • Futures fees above industry average
  • Spot fee above industry average

What are PancakeSwap trading fees?

We analyzed PancakeSwap’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.

PancakeSwap trading fees vs competitors

PancakeSwap Huobi Global WhiteBIT Industry average
Spot, maker fee (%) 0,25 0,2 0,1 0.15
Spot, taker fee (%) 0,25 0,2 0,1 0.194
Futures, maker fee(%) 0,25 0,02 0,02 0.024
Futures, taker fee(%) 0,25 0,05 0,05 0.053

What are PancakeSwap deposit and withdrawal fees?

Deposit fee, % 0
Withdrawal fee, % 0

Does PancakeSwap offer P2P trading?

No, PancakeSwap does not support P2P transactions. However, you can explore the best alternatives in our dedicated list of top P2P exchange platforms, offering a variety of secure options for peer-to-peer transactions.

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.
2.5/10

Deposit and withdrawal

PancakeSwap received a 2.5/10 rating for its deposit and withdrawal services. PancakeSwap offers limited funding options and may charge fees, which could be inconvenient for many users.

Advantages
  • No deposit fees
  • Many cryptocurrencies for deposits and withdrawals
  • No withdrawal fee
Disadvantages
  • No Google Pay option
  • No P2P transfer option

Deposit and withdrawal options

PancakeSwap supports the following deposit and withdrawal options: Crypto.

PancakeSwap Deposit and withdrawal options vs competitors

PancakeSwap OKX Kraken
Bank transfers No No Yes
Bank card No Yes Yes
Crypto Yes Yes Yes
PayPal No No Yes

What is PancakeSwap minimum deposit?

The minimum deposit at PancakeSwap is 1 USD/USDT or 0 BTC. The minimum trade size is 1 USD/USDT, which also serves as the minimum amount required to start trading on the platform.

PancakeSwap minimum deposit vs competitors

PancakeSwap OKX Kraken
Minimum deposit, USD or USDT 1 10 10
Minimum deposit, BTC 0 0,0005 0,0001
Minimum trade amount, USD/USDT 1 0,00001 1

Does PancakeSwap support fiat money?

PancakeSwap does not support fiat currencies; only cryptocurrencies are accepted.

Score:
5/10

Supported coins & markets

PancakeSwap received a score of 5/10 in this category, reflecting a solid selection of tradable assets and markets. PancakeSwap supports 164 cryptocurrencies and basic trading types, although some advanced features or asset diversity may be limited compared to leading exchanges.

Advantages
  • Staking available
  • Crypto options available
  • Crypto futures available
Disadvantages
  • Fiat currencies not supported
  • Only 164 supported coins

PancakeSwap supported coins and markets vs competitors

We compared PancakeSwap 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.

PancakeSwap OKX Kraken
Supported coins 164 329 278
Futures/Perpetual contracts Yes Yes Yes
Options Yes Yes No
NFTs No Yes Yes

PancakeSwap passive income options vs competitors

We also compared PancakeSwap 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.

PancakeSwap OKX Kraken
Staking Yes Yes Yes
Yield farming Yes Yes Yes
Copy trading No Yes Yes

Contacts

Official site https://pancakeswap.finance/

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