Binance is a popular Cryptocurrency exchange where Crypto lovers can exchange one crypto for another with minimal charges. The exchange has more than 150 tradable crypto coins that can be traded on their unique proprietary trading platform, which is available as a desktop application, web terminal, and mobile apps for iOS and Android devices. The Binance trading platform is fast, robust, and flexible, and the exchange provides market analysis and other educational resources. The exchange claims to make about 1.2 billion average daily volume, and they offer their services in 17 languages. However, Binance does not offer non-Crypto instruments, like stock, forex, or commodities, and they are not regulated by any known financial authority.
Binance Review Introduction
In this Binance review, we will take a look at some of the most important factors worth considering when choosing a broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support and broker regulation.
You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare brokers including Binance.
Binance Platforms & Tools
The exchange offers their trading platforms via three channels — Web-based, Desktop, and Mobile apps. Binance desktop trading platform can be downloaded on Windows and Mac computers, while the mobile apps are available for Android and iOS devices.
Binance web-based trading platform is of two types — Basic platform and Advanced trading platform. The Basic platform can load on any browser and has a simple and user-friendly interface, while the Advanced trading platform is more sophisticated, with charts from Tradingview, and has more analytical tools. It is available in 16 languages.
The exchange also added many helpful tools to their platforms, such as the Trust Wallet, Binance Research, and Taker Trading Analysis.
Binance Research & Education
Binance has a section on their website called “Binance Academy.” The academy has three sections: Economics, Blockchain, and Security. The Economics section has over 35 articles and videos that cover financial markets, cryptocurrency, and trading topics, such as the Dow Theory, Risk management, and many more. The Blockchain section has over 50 articles, audios, and videos on the blockchain technology, while the Security section has over 25 articles on digital security technology.
Binance Trading Accounts
The exchange has only one account type. All that is required is to register with the exchange and start trading, but there is a trading fee of 0.1% on each trade.
Binance Account Funding
For deposits, Binance accepts over 150 cryptocurrencies, and there are no deposit fees. Withdrawals can only be made via the same currency as your external wallet — if not, the coin is lost forever — and transaction charges vary with each cryptocurrency. For those who are buying cryptos for the first time, they can use their credit card or do a bank transfer through a third-party crypto seller like Paxful, Banxa, Koinal, or Simplex.
Binance Customer Service
Binance has a customer support team that is available 24/7 to assist you with any questions you may have and provide technical assistance. The support team can be reached via an instant web chat and email. You may also fill the “Submit A Request” form on their website, or connect with them on Facebook, Twitter, Telegram, YouTube, Reddit, Instagram, Weibo, and LinkedIn. There is also the FAQ section on their website which covers many topics.
The firm is a cryptocurrency exchange, and it does not seem to be registered with known any financial regulator. At least, the website does not have any regulatory information. Trading with an unregulated broker or exchange could be risky, so you may want to be cautious when dealing with them.
Binance Review Summary
Binance is a popular Crypto exchange that offers trading in over 150 cryptocurrencies. They provide their own trading platform which is available as a web terminal, desktop application, and mobile apps. However, they are not regulated by any financial authority.
It is worth mentioning that some of the trading products and services in this Binance review may differ or not be available to traders in some countries due to regulations. As brokers terms can change over time, please verify all information is up to date directly from the Binance broker website which you can visit by using the link below.
Trading complex instruments can come with a high risk. You should consider whether you understand how investments and trading work and whether you can afford to take the high risk of losing all of your money.