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
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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 platformsBinance 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.
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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.