Interactive Brokers Vs Binance

Interactive Brokers and Binance in Detail

The Interactive Brokers online trading platform gives traders from all over the world access to over 100 financial instruments, Binance include over 500 available instruments. There are over 3,120,000+ registered customers that have taken advantage of the Interactive Brokers platform.

Interactive Brokers are regulated by NYSE (New York Stock Exchange), FINRA (Financial Industry Regulatory Authority), SIPC (Securities Investor Protection Corporation), CIRO (Canadian Investment Regulatory Organization), FCA (Financial Conduct Authority) (208159), CBI (Central Bank of Ireland), ASIC (Australian Securities and Investments Commission) (453554), SEHK (Securities and Futures Commission, Hong Kong), MAS (Monetary Authority of Singapore) (CMS100917) .

Binance is a renowned Australia financial trading brokerage established in 2011.

Binance serves customers globally and are regulated by AMF (Autorité des Marchés Financiers, France) (E2022-037), OAM (Organismo Agenti e Mediatori, Italy) (PSV5), FIU (Financial Intelligence Unit, Lithuania) (305595206), Bank of Spain (D661), Polish Tax Administration (RDWW – 465), SFSA (Swedish Financial Supervisory Authority) (66822), AFSA (Astana Financial Services Authority, Kazakhstan), FSR (Financial Services Regulatory Authority, Abu Dhabi), CBB (Central Bank of Bahrain), VARA (Dubai Virtual Asset Regulatory Authority), AUSTRAC (Australian Transaction Reports and Analysis Centre) (100576141-001), FIU-IND (Financial Intelligence Unit - India), Bappebti (Indonesia) (001/BAPPEBTI/CP-AK/11/2019), JFSA (Japan Financial Services Agency) (Kanto Local Finance Bureau 00031), FSP (New Zealand Financial Service Providers Register) (FSP1003864), SEC (Securities and Exchange Commission, Thailand), SAT (Tax Administration Service, Mexico), CNAD (Comisión Nacional De Activos Digitales, El Salvador) (PSDA/001-2003), FSCA (Financial Sector Conduct Authority, South Africa). Depending on the country you are trading from Interactive Brokers may serve you from a different business entity to comply with its financial regulators.

Binance is listed as a publically traded company on a major stock market. As part of their regulatory requirements Binance has to disclose a yearly report publically. Because of this extra level of auditing and regulation Binance can be considered trustworthy. Interactive Brokers is listed as a publically traded company so are a reputable broker.

Binance is a popular well known financial trading platform serving over 200,000,000 customers.

Benefits of Interactive Brokers and Binance Compared

Below, we will give you a summary of the benefits Interactive Brokers and Binance offer side by side.

Interactive Brokers offers a minimum deposit of 10000 while Binance have a 0 minimum deposit.

Why smaller trading deposits are good and how Interactive Brokers and Binance compare

One primary and self-evident factor to remember is that you must only deposit an amount that fits your financial capacity with either Interactive Brokers or Binance. If you have limited financial resources, the broker with the most affordable deposit option will be more appealing. Interactive Brokers requires a minimum deposit of 10000, whereas Binance mandates a minimum deposit of 0. One additional factor to consider while venturing into more precarious yet potentially lucrative financial instruments is to limit your speculation to a modest proportion of your designated trading funds. It's advisable not to be deterred by a broker's higher minimum deposit, whether it's Interactive Brokers or Binance, and instead focus on the comprehensive trading features offered by their platform. Frequently, a higher minimum deposit provides access to a wider range of financial assets and research tools on the trading platform.

Interactive Brokers allows traders to trade up to 100 financial instruments while Binance have around 500 on their trading platform.

The more instruments available on Interactive Brokers and Binance trading platforms the more potential financial instruments you can buy or sell for your portfolio. It is good to have a diverse portfolio and the options available to a user will always vary. Trading is all about grasping potential opportunities and you seriously do not want to miss out on a trading opportunity due to the limitations of Interactive Brokers or Binance.

The Interactive Brokers trading platform has 0 stocks listed while Binance has 0 stocks listed.

Interactive Brokers allows retail traders to trade the following assets Forex on the Interactive Brokers IBKR GlobalTrader, IBKR Desktop, IBKR Mobile, Trader Workstation (TWS), IBKR APIs, IBKR ForecastTrader, IMPACT, Mobile Apps, iOS (App Store), Android (Google Play) trading platforms.

Alternatively Binance allows retail traders to trade Forex trading, Spread Betting, Social trading, on the Binance Apple App iOS, Android Google Play, MacOS, Windows, Linux, Desktop trading platforms.

Compare Interactive Brokers and Binance in more detail below.

Drawbacks of Interactive Brokers and Binance Compared

Below we compare what drawbacks Interactive Brokers and Binance have side by side.

Various potential downsides can be associated with certain brokers, including Interactive Brokers and Binance. One primary drawback is the potential restrictions that may be imposed. Generally, the more diverse investment options available, the more favourable the situation. Another critical aspect to consider is the trading fees and commissions charged by Interactive Brokers compared to Binance. High trading fees and commissions must be factored into your profit loss of each live trade. Additionally, essential factors to consider are the quality of trading research tools, educational resources, and the overall user-friendliness of Interactive Brokers versus Binance.

Interactive Brokers Vs Binance Available Financial Markets

The saying 'Variety is the spice of life' holds for financial markets. It is always advisable to have a diversified investment portfolio whether trading with Interactive Brokers or Binance. A diversified portfolio with Interactive Brokers or Binance can safeguard your investments from significant downturns in any particular market. For instance, when one stock rises, others may follow suit.

Conversely, when the market takes a downturn, it can be disastrous for your investments. The most effective investment portfolios cover potential risks and encompass many businesses and stocks. When creating a diverse investment portfolio with brokers like Interactive Brokers or Binance, it is recommended to have access to a variety of tradable assets, commodities, and securities on different trading platforms such as Interactive Brokers and Binance.

Interactive Brokers Vs Binance Cryptocurrency Trading

Since the creation of Bitcoin, the world of cryptocurrencies has been booming, including on trading platforms like Both Interactive Brokers and Binance, and it's not difficult to see why. Cryptocurrencies have the potential to turn modest investments into millions, although this is a rare occurrence. This feat is hard to achieve compared to other financial instruments like stocks and shares. Both Interactive Brokers and Binance offer some form of cryptocurrency trading.

Bitcoin is the most popular cryptocurrency, but thousands of altcoins could experience a similar rise. Altcoins follow the same trajectory as Bitcoin, similar to how stocks rise and fall with the market.

Investing in cryptocurrencies with Interactive Brokers or Binance is considered a high-risk venture. The prices of cryptocurrencies can experience extreme highs and lows. If you choose to invest in cryptocurrencies, allocating only a fraction of your portfolio or trading budget to it is essential. Crypto trading with Interactive Brokers or Binance could lead to one of the most exciting trades you've ever made, depending on the market. Please remember that cryptocurrency availability on Interactive Brokers, Binance, and all brokers are subject to regulation.

We compare Interactive Brokers vs Binance Crypto options below side by side.

Interactive Brokers Vs Binance Commission and Fees

knowing your trading and commission fees with Interactive Brokers vs Binance is extremely important. For the majority of the Interactive Brokers 100 financial instruments and Binance 500 available financial instruments .

The price you are being presented with will factor in the fee the broker takes. For example, if a financial asset is at 79.6. You might have to pay 79 to enter. Therefore, you will start with a small loss with Interactive Brokers and Binance. The bigger the fee, the bigger the issue is. Most alarmingly, some financial assets charge you to hold on to the asset overnight or over the weekend. Some commodities and stocks you are using leverage on may have overnight charges. Please check your fees with Interactive Brokers and Binance before you invest because you must know what you are paying.

You ideally want to choose a broker like Interactive Brokers or Binance that does not charge too much for withdrawal fees. High trading fees and commissions must be taken into your profit loss calculations. The fees will be noticeable if you have a low budget and do not intend to invest so much with Interactive Brokers or Binance. You want the withdrawal fee to be less than one per cent of what you are withdrawing but, more ideally, $5 to $10.

Your location or residence will have an impact on your potential Interactive Brokers and Binance fees, of course. Make sure you do your research and check the commission and fees with both Interactive Brokers and Binance before you invest anything.

Some brokers will charge inactivity fees. As the name suggests, this occurs when you have been inactive on your account for a certain period. Also, with Interactive Brokers or Binance be aware of or 3rd party payment provider fees and currency conversion fees.

Interactive Brokers does not charge inactivity fees, while Binance does charge inactivity fees.

Numerous notifications are usually sent to you as a reminder of dormant Interactive Brokers and Binance accounts, giving you sufficient time to decide on the appropriate course of action. You can opt to continue using your Interactive Brokers or Binance account, or choose to close it.

Usually, the associated fees for dormant Interactive Brokers or Binance accounts are quite minimal, and there is no need to panic, particularly when the issue can be easily resolved. It's always advisable to keep track of your live Interactive Brokers or Binance trading account activity to avoid any unnecessary fees or charges.

When you deposit money to a broker like Interactive Brokers or Binance you might need to pay deposit fees. The lower, the better. Most preferably, you would have to pay Interactive Brokers or Binance nothing for this. If this is the case, it can be a big problem. Constant deposit fees can potentially add up, so this will take some consideration before you sign up.

Let's see how Interactive Brokers vs Binance compare side by side for commissions and fees.

Interactive Brokers Vs Binance Trading Platforms

We live in an accessible world these days. Therefore, your trading platform has to consider this. The ability to trade with the click of a button is essential and allows you to make trading decisions on the Interactive Brokers and Binance platforms when convenient. Without this, you cannot take advantage of every situation that may or may not occur in the financial markets.

Some brokers offer bespoke trading platforms, so if a particular broker does not offer the trading software you are looking for, their proprietary trading platform may be better. You must test this yourself with an Interactive Brokers or Binance demo account.

Interactive Brokers Vs Binance Mobile Trading

Trading on your mobile with Interactive Brokers and Binance can be very useful. Why is this? Well, the stock market sees market movement every second. If you are not near your desktop computer, you will probably be near and have access to your phone and Interactive Brokers and Binance mobile trading apps. This way, you can take advantage of all potential trading opportunities mobile trading with Interactive Brokers or Binance. For example, a stock might move to an all-time low when you are out. In this instance, having access to mobile trading with Interactive Brokers or Binance can help limit your risk and trade on the move.

If you own an iPhone, having an IOS Apple mobile trading app with Interactive Brokers or Binance is essential. Likewise, if you have an android phone, it's crucial to verify if Interactive Brokers or Binance broker provides an app compatible with Android devices. If you use Microsoft Windows tablets or phones, you must also check if Interactive Brokers and Binance have trading apps compatible with your device.

Interactive Brokers Vs Binance Trading Account Types Offered

Interactive Brokers Vs Binance Demo Account

A demo account with Interactive Brokers or Binance is extremely useful for people without trading experience. This way, you risk none of your money and test your trading skills in a safe environment. For people with next to no knowledge of trading, we recommend fully signing up with an Interactive Brokers and Binance demo account.

Interactive Brokers Vs Binance Micro Account

Micro accounts are trading accounts used by Forex traders that allow them to trade with smaller amounts of capital than standard trading accounts. Micro accounts require a smaller minimum deposit, usually ranging from $1 to $500, and offer smaller trade sizes than standard accounts, allowing traders to manage their risk more effectively.

If you need a micro account check if Interactive Brokers or Binance offer micro trading accounts in your region.

Overall, micro accounts provide a flexible and cost-effective way for Forex traders to enter the market and gain valuable trading experience while minimizing risks. However, traders need to remember that Forex trading carries significant risks, and they should always approach trading with caution and sound risk management strategies.

Interactive Brokers and Binance do not offer Micro accounts.

Interactive Brokers Vs Binance Standard Account

A standard account is available on Interactive Brokers and Binance to more experienced traders. This account allows users to trade on stocks, commodities, crypto etc. To open one of these retail investor accounts, users must trade with at least $100. Standard trading accounts are what the majority of people will seek to use.

Both Interactive Brokers and Binance do offer clients Standard accounts.

Interactive Brokers Vs Binance MAM Account

A MAM (Multi-Account Manager) account is typically used by professional traders. It allows a trader to manage multiple individual trading accounts from a single master account, making it easier to execute trades and manage risk across multiple clients. MAM accounts can help streamline the trading process and improve efficiency for trader and their clients. If you need a MAM account check if MAM accounts are available with Interactive Brokers or Binance or alternative.

Interactive Brokers and Binance do not offer clients MAM accounts.

Interactive Brokers Vs Binance ECN Account

The primary purpose of ECN accounts is to provide traders with faster execution speeds and better pricing by connecting them directly to the market. ECN accounts allow traders to exploit the tightest spreads and access the deepest liquidity pools.

ECN accounts are used for fast and efficient trading, with lower transaction costs and greater transparency. While they may not be suitable for all traders, those with the necessary experience and expertise can benefit greatly from using an ECN account.

If you need a ECN account check they are available with Interactive Brokers or Binance or alternative.

Interactive Brokers does offer clients ECN accounts, while Binance does not offer clients ECN accounts.

Interactive Brokers Vs Binance Islamic Account

An Islamic account is for people who respect the Quran and want to invest in the Islamic stock market. Islamic trading accounts might seem very niche, but it is essential for those concerned as it follows certain ethics concerning the principles of Islam. They are also referred to as swap-free accounts.

If you need a Islamic account check they are available with Interactive Brokers or Binance or alternative.

Interactive Brokers does not offer clients Islamic accounts, while Binance does not offer clients Islamic accounts.

Interactive Brokers Vs Binance STP Account

Straight Through Processing or STP is where a requested client's trade orders are sent directly to the markets. STP brokers aim to reduce all conflicts of interest. STP is a non-dealing desk trading method aimed mainly at Forex traders.

If you need a STP account check they are available with Interactive Brokers or Binance or alternative.

Interactive Brokers does offer clients STP accounts, while Binance does not offer clients STP accounts.

Interactive Brokers Vs Binance Managed Account

A managed account is a type of investment account where a professional manager or investment firm is responsible for making investment decisions on behalf of the account owner. The account owner typically retains ownership of the underlying assets but delegates responsibility for managing those assets to the manager.

While some managed accounts require significant investment minimums to access the services of a professional manager, many brokers now offer variations of managed accounts that can be accessed with smaller investment amounts. It's important to note that the fees associated with managed accounts can vary widely depending on the level of service the manager provides and the investment strategy employed. Investors should carefully evaluate the costs and benefits of managed accounts before making an investment decision.

Both Interactive Brokers and Binance do not offer clients Managed accounts.

Interactive Brokers Vs Binance Withdrawal and Funding Methods

Interactive Brokers and Binance have multiple deposit and withdrawal options. Funding and withdrawing from your Interactive Brokers and Binance accounts to your chosen payment method should be straightforward. Lets see how Interactive Brokers and Binance compare with each other. Be aware that depending on your payment method, there may be additional processing fees from your payment provider or bank for processing and converting your funds. Not all potential fees will come from Interactive Brokers or Binance.

Interactive Brokers Vs Binance Customer Support Compared

Customer support is essential when trading. Even professional traders will eventually need the help of Interactive Brokers or Binance support. Customer support is especially important for traders starting with little knowledge. If you are starting out, you will want to ensure the Interactive Brokers and Binance support is always available when needed. Interactive Brokers and Binance customer support is not just useful. broker customer support is crucial to your trading success!

Interactive Brokers Vs Binance Live Chat

Live chat is important for several reasons. When you encounter a problem with Interactive Brokers or Binance trading platforms, it is nice to know that the problem has the potential to be sorted out then and there. Also, speaking to someone live is much less frustrating than speaking to someone through several emails.

Both Interactive Brokers and Binance offer livechat support.

Interactive Brokers Vs Binance Email Support

When trading CFDs, stocks, commodities, currencies, cryptocurrencies or any other financial instruments with either Interactive Brokers or Binance you will find Email support is also very useful. Sometimes you might have a more complex question requiring a specific part of the Interactive Brokers or Binance support team to answer satisfactorily. Email support with Interactive Brokers and Binance will be needed.

Both Interactive Brokers and Binance offer email support.

Interactive Brokers Vs Binance Phone Support

Although most queries can be resolved with the need of a phone call, it is nice when we can explain ourselves with a live human being at either Interactive Brokers or Binance. We can get straight to the point, saving us time and frustration.

Interactive Brokers do offer phone support. On the other hand Binance do not offer phone support.

Lets see how Interactive Brokers and Binance customer support compare side by side.

Interactive Brokers Vs Binance Regulation and Licensing

Never trade on a market that is not sufficiently regulated. Only submit your bank card information or invest money on financially regulated websites. It would help if you made sure with certainty that your money is held with a regulated brokerage. Checking whether Interactive Brokers and Binance are regulated is not a hard task. The more reputable and mainstream brokers will proudly display their regulation certificates on their site, and if you cannot see that Interactive Brokers or Binance have these in place, please be extremely cautious before you proceed with them.

We compare Interactive Brokers Vs Binance financial regulation and licensing side by side below.

Interactive Brokers Vs Binance Education Resources Compared

We compare Interactive Brokers and Binance educational resources below.

Interactive Brokers Vs Binance Risk Management Features

When trading with either Interactive Brokers or Binance you will want to understand and make full use of all the risk management features on your Interactive Brokers or Binance trading platforms.

We compare side by side the trading risk management features offered by Interactive Brokers and Binance below.

Interactive Brokers Vs Binance Hedging

What is hedging? Have you ever heard of the expression 'to hedge ones bets'? Hedging means not speculating solely on the outcome of one event, as holding all your assets in one place could be risky. Hedging in finance means being able to trade to protect yourself from huge risks by limiting risk using diversification. Hedging can be done, for example, by speculating on a stock to rise and against it to rise by using different amounts or different amounts of leverage.

Interactive Brokers does offer clients hedging, while Binance does not offer clients hedging.

Interactive Brokers Vs Binance Stop Loss

Stop loss orders are very useful for more volatile investments, especially when speculating on a stock or Forex currency pair. In a normal trade, you cannot lose more than what you invested, but this is not the case when you are using leverage. Under these terms, it is always good to set a stop loss to protect yourself from any vicious results.

Both Interactive Brokers and Binance do offer clients stop losses. Stop Loss and Take Profit are not guaranteed on Interactive Brokers or Binance. You must still monitor any live trades and your financial exposure and financial risk.

Interactive Brokers Vs Binance Limit Orders

Every broker should allow users to place a limit order. Limit orders are when you have the order to buy a financial instrument at a specific price. Your trade will be executed when the financial asset hits a set price. Limit orders are extremely useful as they allow you to buy stock at a better price! It would be very time-consuming to wait for a stock to fall to a price you would ultimately be satisfied by. Therefore, you can already imagine what helping limit orders can be in your trading career.

Both Interactive Brokers and Binance do offer clients limit orders.

Interactive Brokers Vs Binance Negative Balance Protection

Negative balance protection is there to protect its customers. Customers need protection as trading can be volatile, and not everybody who invests knows the full consequences of their trade.

Negative balance protection works like this: Say you invest $50, but your trade can lose $125 because you have used leverage. You will need $125 available in your account to do this trade. Negative balance protection is essential, as it would be unfortunate if you received an unexpected bill from a broker one day.

Interactive Brokers does offer clients negative balance protection, while Binance does not offer clients negative balance protection.

Interactive Brokers Vs Binance Verdict

We hope this Interactive Brokers Vs Binance guide has helped you decide who is best to trade with out of Interactive Brokers and Binance.

When choosing a broker like Interactive Brokers or Binance for trading, it's important to ensure your money is held in a segregated bank account. Your live trading funds with Interactive Brokers or Binance are kept separate from the broker's funds and can be returned to you if the broker faces financial difficulties or insolvency when signing up with brokers such as Interactive Brokers or Binance, it's crucial to verify that they offer this safeguard. By doing so, you can have greater peace of mind and confidence in the safety of your funds as you engage in trading activities with Interactive Brokers or Binance.

Also, before you sign up with online brokers like Interactive Brokers or Binance, make sure you know what you are doing. Simple advice, we admit, but we know from experience how many people decide to start trading and then ask questions later. Please know what you are doing with Interactive Brokers or Binance before investing money into something.

Beware of the risks that come with trading with Interactive Brokers or Binance. The financial markets can be volatile, and investments can go down and up. Educate yourself, and use all Interactive Brokers and Binance educational resources and financial research tools. If you are new to trading, sign up for a demo account with Interactive Brokers and Binance to find which suits you and your trading style.

Some of you might be thinking about what we mean when we say 'trading style'. Here are a few examples. A day trader using Interactive Brokers or Binance will look to open positions and close them on the same day. Day trading in this way will require a broker that specialises in this. To do this with some brokers would be a bad idea because of the commission and fees involved. Check if Interactive Brokers and Binance fees match your trading requirements.

Alternatively, you could be on the end of this scale and decide to wait years before you close your investments with Interactive Brokers or Binance if your investment strategy is more long-term.

Interactive Brokers and Binance Alternatives

If Interactive Brokers and Binance are not what you are not quite what you are looking for we list some of the best Interactive Brokers and Binance alternatives below.

Other Interactive Brokers and Binance Vs Comparisons

If you are still looking for an alternative to Interactive Brokers and Binance and want to see how Interactive Brokers or Binance compares Vs other brokers check out the Interactive Brokers Vs and Binance Vs list below.

Interactive Brokers Vs Alternatives

Still not happy have a look at some of our alternative Interactive Brokers Vs side by side comparisons below

• Interactive Brokers vs IC Markets
• Interactive Brokers vs Roboforex
• Interactive Brokers vs eToro
• Interactive Brokers vs XTB
• Interactive Brokers vs XM
• Interactive Brokers vs Pepperstone
• Interactive Brokers vs AvaTrade
• Interactive Brokers vs FP Markets
• Interactive Brokers vs easyMarkets
• Interactive Brokers vs SpreadEx

Binance Vs Alternatives

Still not happy have a look at some of our alternative Interactive Brokers Vs side by side comparisons below

• Binance vs IC Markets
• Binance vs Roboforex
• Binance vs eToro
• Binance vs XTB
• Binance vs XM
• Binance vs Pepperstone
• Binance vs AvaTrade
• Binance vs FP Markets
• Binance vs easyMarkets
• Binance vs SpreadEx

Interactive Brokers Vs Binance Frequently Asked Questions

We answer some of the most frequently asked Interactive Brokers Vs Binance questions below.

Is Interactive Brokers any Good?

Knowing that a broker is legit is the first thing you should check before signing up with a broker. Is Interactive Brokers legit? - Interactive Brokers are regulated by NYSE (New York Stock Exchange), FINRA (Financial Industry Regulatory Authority), SIPC (Securities Investor Protection Corporation), CIRO (Canadian Investment Regulatory Organization), FCA (Financial Conduct Authority) (208159), CBI (Central Bank of Ireland), ASIC (Australian Securities and Investments Commission) (453554), SEHK (Securities and Futures Commission, Hong Kong), MAS (Monetary Authority of Singapore) (CMS100917) and have been in business since 1977

Is Binance any Good?

Binance are regulated by AMF (Autorité des Marchés Financiers, France) (E2022-037), OAM (Organismo Agenti e Mediatori, Italy) (PSV5), FIU (Financial Intelligence Unit, Lithuania) (305595206), Bank of Spain (D661), Polish Tax Administration (RDWW – 465), SFSA (Swedish Financial Supervisory Authority) (66822), AFSA (Astana Financial Services Authority, Kazakhstan), FSR (Financial Services Regulatory Authority, Abu Dhabi), CBB (Central Bank of Bahrain), VARA (Dubai Virtual Asset Regulatory Authority), AUSTRAC (Australian Transaction Reports and Analysis Centre) (100576141-001), FIU-IND (Financial Intelligence Unit - India), Bappebti (Indonesia) (001/BAPPEBTI/CP-AK/11/2019), JFSA (Japan Financial Services Agency) (Kanto Local Finance Bureau 00031), FSP (New Zealand Financial Service Providers Register) (FSP1003864), SEC (Securities and Exchange Commission, Thailand), SAT (Tax Administration Service, Mexico), CNAD (Comisión Nacional De Activos Digitales, El Salvador) (PSDA/001-2003), FSCA (Financial Sector Conduct Authority, South Africa) and have been in business since 2011.

Which is better Interactive Brokers or Binance?

Interactive Brokers and Binance do not have a high rating, so we recommend trading with a more reputable alternative broker.

Is Interactive Brokers a con?

Interactive Brokers is regulated by NYSE (New York Stock Exchange), FINRA (Financial Industry Regulatory Authority), SIPC (Securities Investor Protection Corporation), CIRO (Canadian Investment Regulatory Organization), FCA (Financial Conduct Authority) (208159), CBI (Central Bank of Ireland), ASIC (Australian Securities and Investments Commission) (453554), SEHK (Securities and Futures Commission, Hong Kong), MAS (Monetary Authority of Singapore) (CMS100917) and have been in business since 1977. We recommend looking at a Interactive Brokers alternative that has more financial regulation.

Is Binance a con?

Binance is regulated by AMF (Autorité des Marchés Financiers, France) (E2022-037), OAM (Organismo Agenti e Mediatori, Italy) (PSV5), FIU (Financial Intelligence Unit, Lithuania) (305595206), Bank of Spain (D661), Polish Tax Administration (RDWW – 465), SFSA (Swedish Financial Supervisory Authority) (66822), AFSA (Astana Financial Services Authority, Kazakhstan), FSR (Financial Services Regulatory Authority, Abu Dhabi), CBB (Central Bank of Bahrain), VARA (Dubai Virtual Asset Regulatory Authority), AUSTRAC (Australian Transaction Reports and Analysis Centre) (100576141-001), FIU-IND (Financial Intelligence Unit - India), Bappebti (Indonesia) (001/BAPPEBTI/CP-AK/11/2019), JFSA (Japan Financial Services Agency) (Kanto Local Finance Bureau 00031), FSP (New Zealand Financial Service Providers Register) (FSP1003864), SEC (Securities and Exchange Commission, Thailand), SAT (Tax Administration Service, Mexico), CNAD (Comisión Nacional De Activos Digitales, El Salvador) (PSDA/001-2003), FSCA (Financial Sector Conduct Authority, South Africa) and have been in business since 2011. We recommend looking at a Binance alternative that has more financial regulation.

What happens if Interactive Brokers or Binance go bust?

Interactive Brokers and Binance are regulated, which means that as part of their regulatory obligations Interactive Brokers and Binance have to offer a certain level of financial protection to their clients. Interactive Brokers and Binance should by law keep client funds separate from Interactive Brokers and Binance funds. If either Interactive Brokers or Binance goes bankrupt, they should not have access to your money. Customer accounts should be segregated. A financial services compensation scheme differs from country to country, so check this on the Interactive Brokers and Binance websites and regulators.

Are Interactive Brokers or Binance good for beginners?

Interactive Brokers and Binance offer low deposits and access to a selection of market insights and news resources. Both Interactive Brokers and Binance offer demo accounts. Demo trading accounts are a big plus for Interactive Brokers and Binance as it shows they are interested in their customers.