20,0%
Top 3
10,0%
Top 5
7,0%
Top 10
5,0%
Top 20
1,0%
Top 40
0,5%
Top 100
0,2%
Top 100+
0,05%
Jan.
Feb.
Mar.
Apr.
May.
Jun.
Jul.
Aug.
Sep.
Oct.
Nov.
Dec.
Binance Review 2024
Minimum
deposit:
deposit:
- $1
Trading platform:
- Proprietary platform
Minimum
deposit:
deposit:
- $1
Trading platform:
- Proprietary platform
Trading features:
- Investment program available, copy trading
Summary of Binance Crypto Exchange
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 ranks 4 among 173 companies featured in the TU Rating, which is based on the evaluation of 100+ criteria.
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.
NOTE!
If you are planning to trade cryptocurrencies, and not just keep your savings in crypto wallets, we recommend that you choose one of the top brokers with reliable regulation and access to trading crypto CFDs. This type of trading will help you avoid holding your cryptocurrency in e-wallets of exchanges, which quite regularly get hacked. Also, availability of leverage will allow you to trade crypto CFDs for amounts much higher than your deposit.
Traders Union experts recommend considering Top 3 companies from our rating:
Editorial Note: While we adhere to strict
Editorial Integrity,
this post may contain references to products from our partners. Here's an explanation for
How We Make Money.
We are unable to verify the validity of reviews and publish all reviews, both positive and negative,
in accordance with the
Users Reviews Policy.
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
| 💰 Account currency: | EUR, USD, other currencies, and cryptocurrencies |
|---|---|
| 🚀 Minimum deposit: | From $1 |
| ⚖️ Leverage: | Up to 1:125 |
| 💱 Spread: | 0.1% |
| 🔧 Instruments: | Cryptocurrencies |
| 💹 Margin Call / Stop Out: | No |
👍 Advantages of trading with Binance:
- 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.
👎 Disadvantages of Binance:
- 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).
Evaluation of the most influential parameters of Binance
Trade with this broker, if:
- 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.
Do not trade with this broker, if:
- 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.
NOTE!
Do not miss a chance to get additional monthly bonuses and payouts for trading at Binance cryptocurrency exchange.
Enter the referral code when you register on the website or Binance app.
28389632
Get $50 in rewards just by signing up!
Your capital is at risk.
*TU may receive partnership reward for registration of the client on the company’s website on a referral link.
Geographic Distribution of Binance Traders
Popularity in
8.4%
IN
5.9%
TR
5.5%
JP
4.4%
US
3%
CA
2.1%
RU
2.1%
AU
2.1%
SA
2%
PK
54.5%
Others
Video Review of Binance i
User Satisfaction i
325 comments
Total score:
Share your experience
- Best
- Last
- Oldest
Vasiliy
3 weeks ago
Verified
PH Cebu City 
the ease of use, Binance app, never had issues, excellent overall trading experience
non
Milena
2 weeks ago
Verified
AM Yerevan
security verification methods
no weaknesses
TRISHAN
10 weeks ago
Awdifova
28 weeks ago
lottievz2
2 years ago
aishwara
2 years ago
bagyi2002
2 years ago
Expert Review of Binance
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.
Latest Binance News
23.04.2024
Cryptocurrency exchange Binance is expanding opportunities for users by introducing new promotional programs. Particularly favorable offers are
21.04.2024
Cryptocurrency exchange Binance's legal troubles over allegations of tax evasion have been delayed and will be resolved at a later date. A Nigerian
18.04.2024
Binance announced the launch of the Megadrop platform for token farming and an early airdrop. The Binance Megadrop platform will allow users to
17.04.2024
Cryptocurrency exchange Binance.US has announced the appointment of Martin Grant, former Chief Compliance and Ethics Officer at the Federal Reserve Bank
16.04.2024
Crypto derivatives buying and selling platform Binance Futures is preparing to launch USDC-margined perpetual contracts for ARB, NEO, and FIL with
08.04.2024
In March, the volume of spot trades conducted on the Binance crypto exchange platform reached a record high since 2021. Binance's spot trading volume
07.04.2024
Crypto exchange Binance has revealed the volume of client balances in the popular meme coins SHIB and DOGE, as well as in XRP. Client assets in the
02.04.2024
Binance Holdings Ltd. announced the appointment of its first-ever board of directors after the company pleaded guilty last year to anti-money laundering
25.03.2024
Cryptocurrency exchange Binance has announced that it will no longer support USDC deposits and withdrawals through the Tron network (TRC20). USDC is a
Dynamics of Binance’s popularity among
Traders Union’s traders, according to 2023 data
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.
Important!
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%.
Trading Conditions for Binance Users
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.
$1
Minimum
deposit
Up to 1:125
Leverage
24/7
Support
| 💻 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 |
| 💱 Spread: | 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 |
Broker comparison table of trading instruments
| Binance | Bybit | MEXC | OKX | BitGet | XT.com | |
| Forex | Yes | No | No | No | No | No |
| Metalls | No | No | No | No | No | No |
| Crypto | Yes | Yes | Yes | Yes | Yes | Yes |
| CFD | No | No | No | No | No | No |
| Indexes | No | No | No | No | No | No |
| Stock | No | No | No | No | No | No |
| ETF | No | No | No | No | No | No |
| Options | No | No | No | No | No | No |
Binance Commissions & Fees
Information
The Traders Union experts analyzed the Binance exchange’s trading terms for the difference in commissions. Exchange commissions depend on the following parameters: the trader's activity (trading turnover per month), the volume of the traders’ investments in the BNB exchange token, on the asset type. There is a withdrawal fee the size of which depends on the name of the cryptocurrency.
| Account type | Spread (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 |
| Binance | $6 | Low |
| Bybit | $20 | High |
| Huobi Global | $18 | Medium |
Contacts
| Foundation date | 2017 |
| Official site | binance.com |
Disclaimer:
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.
Read also about other cryptocurrency exchanges:
Find out how Binance stacks up against other brokers.
Articles that may help you
For Beginners
For Beginners
For Beginners
For Beginners
For Beginners
For Beginners
For Beginners
For Beginners
For Beginners
FAQs
Do reviews by traders influence the Binance rating?
Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about Binance you need to go to the broker's profile.
How to leave a review about Binance on the Traders Union website?
To leave a review about Binance, register on the Traders Union website or you can also leave a review through Facebook.
Is it possible to leave a comment about Binance on a non-Traders Union client?
Anyone can leave feedback about Binance on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.
Traders Union Recommends: Choose the Best!
Open an account
Your capital is at risk.
Open an account
Your capital is at risk.
Open an account
Your capital is at risk.