Binance Review for 2019

Binance Rated 3/5
Binance have a low rating. We recommend you look at one of their alternative brokers.
Good alternatives to Binance

Binance Introduction

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. In our review of Binance we break down the pros and cons. What Binance are able to offer, what countries Binance are available in. Who Binance are regulated by and more.

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

Open Binance's Website

As with any investment your capital is at risk, losses can exceed deposits.

At the bottom of this review you can also learn about some pretty good alternatives to Binance

With this review we hope to help you see if Binance is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding Binance that will help you get off to a good start in the world of online trading.

Binance what you should know

Binance offer four ways to trade: Forex trading, Spread Betting, Social trading, .

With Binance you will need a minimum deposit of $varies. You can sign up for a demo account to acquaint yourself with Binance platform.

Binance are able to accommodate various levels of traders whether you are experienced or a beginner.


Are Binance safe?

When choosing a broker like Binance the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in 2011, and in operation for 8 years Binance have a head office in Australia.

Binance is regulated. This means Binance are supervised by and is checked for conduct by the Unregulated regulatory bodies.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to Binance, this will be honored. If Binance violate any regulatory rules their regulated status could be stripped.

Any payments funded to Binance accounts by traders are held in a segregated bank account.

For added security Binance use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Try creating two accounts when you are working with Binance. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

Open a demo account Visit Binance

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

What we like

  • Used by over 10,000 traders
  • Established in 2011
  • Regulated by Unregulated
  • Min. deposit from $varies

What we don't like

Binance General Fees

  • Binance withdrawal fees varies on payment method
  • Binance does charge inactivity fees

Binance Commissions

  • Binance does charge commission on CFD shares

What can you trade with Binance?

You can trade a wide variety of instruments with Binance over 52 instruments infact.

If you are looking at trading currency pairs Binance offer over currency pairs.

Compare Binance with Interactive Brokers and XTB below.

FX / Currencies binance IB XTB
# of forex pairs offered 10 50
Major forex pairs No Yes Yes
Minor forex pairs No Yes
Exotic forex pairs No Yes
Cryptocurrencies Yes No Yes
Commodity CFDs Binance Interactive Brokers XTB
# of commodities offered 0
Metals No Yes Yes
Energies No Yes Yes
Agricultural No Yes Yes
Indiced & Stock CFDs Binance Interactive Brokers XTB
# of Stocks offered 1500
UK Shares No Yes Yes
US Shares No Yes Yes
German Shares No Yes Yes
Japanese Shares No Yes Yes
binance's
Instruments
IB's
Instruments
XTB's
Instruments

Trading on Binance web platforms and other applications

Binance offer a user-friendly custom trading platform, available as both a downloadable program or as a browser based WebTrader. If you are looking for a MetaTrader broker, see our comparison of MT4 brokers here.

An Binance IOS or Android native App on your phone or tablet will Work quicker Than the Avatrade Website on the same device

Binance also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you’re on the move.

See binance's platforms

Binance Trading benefits :

  • Low min deposit

Binance Trading Accounts offered:

  • Standard account
  • Managed account

Can I try Binance before I buy?

Binance offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

What funding methods do Binance accept?

Binance offer the below funding payment methods. learn more about Binance

How can I start trading with Binance?

When opening a trading account with Binance, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on Binance trading platforms here.

Performing trades with Binance

Binance allow you to execute a minimum of trade of varies. This may vary depending on the account you open. Binance allow you to execute a maxium trade of varies.

As a market maker, Binance may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically have larger capital and minimum trade requirements. Market makers typically have lower minimum deposit, smaller minimum trades requirements and no commission on trades.

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments, but as a guide, Binance offer margin up to % on currencies.

Support at Binance

Binance support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian

What you will need to open an account with Binance

As Binance is regulated by Unregulated, every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore Binance's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with Binance you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.binance.com/ on 12th August 2018.

BINANCE Frequently Asked Questions

Can I try Binance before I buy?

Binance do not offer a demo account so it looks like you will have to sign up for at least a trial period. Learn more here

What funding methods do Binance accept?

Binance offer the below funding payment methods among other payment methods. Learn more here

How can I start trading with Binance?

When opening a trading account with Binance, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on Binance trading platforms here.

Is my money safe with Binance?

Binance is regulated by Unregulated. One of the most important criteria for traders when choosing a broker like Binance is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to Binance, this will be honored. If they violate any regulatory rules their regulated status can be stripped.