Binance
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Investing in cryptocurrencies involves risk.

Vs.

IG
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73% of retail CFD accounts lose money.

Binance Vs. IG - Compare and Choose the Right One

Updated Jan 12 2022

Visit

Investing in cryptocurrencies involves risk.

Visit

73% of retail CFD accounts lose money.

Overview

Binance is a global cryptocurrency exchange founded in 2017 in China with the aim of providing the ultimate trading solution. Currently, they offer more than 700+ cryptocurrencies, derivatives (such as Vanilla options, futures, staking), a Launchpad platform for ICOs and many more services such as several trading platforms with different complexity levels.

IG is a global broker established in 1974 that holds 10 reputable financial licenses and provides CFD trading on stocks, commodities, ETFs, indices, cryptocurrencies, bonds, futures, options along with real stocks through their share dealing account.

Best For
  • Avid cryptocurrency traders and investors from intermediate to expert levels
  • Day traders looking for a high liquidity exchange with competitive fees
  • Professional traders looking to exploit their customisable platform and broad asset offering
  • High volume traders that can offset their commission costs by trading in larger volumes
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The Good
  • Largest cryptocurrency exchange in the world by liquidity
  • Massive cryptocurrencies selection available (700+)
  • Large amount of financial products in the form of derivatives (Vanilla options, futures, etc)
  • Advanced trading platforms with visual order books at no cost
  • Broad platform offering with high customisability and integrated news feeds
  • Comprehensive asset offering with more than 10,000 + CFDs or real stocks and ETFs
The Bad
  • Interface can be complex to use for beginners
  • The wide selection of products and derivatives can also be intimidating for beginners
  • There are too many small costs such as custody, in-and-out-commissions in some cases, management fees, etc
  • Their standard contracts can be too large some times for low volume traders
Status
Operational Operational
Recent News
N/A N/A
Key Data
⌛ Account Opening Time
1 Day 1 Day
📋 Documents Required

Only to increase withdrawal limits:

  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

🏛 Financial Regulators

None, not required at the moment.

  • ASIC (Australia)
  • FCA (UK)
  • NFA (United States)
  • ADGM (United Arab Emirates)
  • FINMA (Switzerland)
  • MAS (Singapore)
  • FFAJ (Japan)
  • FSCA (South Africa)
📍 Year Founded
2017 1974
💳 Minimum Deposit
0

0 for Bank Transfers, 300 € for Paypal and Debit / Credit cards.

💰 Payment Methods
  • All supported cryptocurrencies
  • Bank transfers
  • Visa
  • Mastercard
  • Visa
  • Mastercard
  • Bank Transfer
  • Paypal
💵 Account Base Currencies
All supported cryptocurrencies. 6 - AUD, EUR, GBP, HKD, SGD, USD.
🗽 Available to U.S Citizens
Yes (excluding few states) Yes (excluding CFDs)
❌ Restricted Countries
None SY, IR.
📊 STP Account
No No
📊 DMA Account
No Yes
📊 ECN Account
No Yes
Assets
📚 Available Assets
  • More than 700+ real cryptocurrencies
  • A wide selection of derivatives based on real cryptocurrencies such as futures, vanilla options, etc.
  • Real stocks and ETFs
  • CFDs on stocks, ETFs, currencies, commodities, cryptocurrencies indices and bonds.
📙 Stocks
N/A

10,000+ CFDs / Offering from 8 exchanges worldwide for real stocks

📘 Currency Pairs
N/A 210
📗 Commodities
N/A 37
📕 Indices
N/A 76
📔 ETFs
N/A 2,000 + both CFDs and real ETFs
💸 Cryptocurrencies
700+ 15
📒 Bonds
N/A 19
📓 Options
N/A Availability only for select countries.
📗 Futures
N/A

Several contracts in commodities and indices with various expiration dates.

📝 Notes:

Binance specialises in real cryptocurrencies and tokenised derivatives based on their own cryptocurrency offering.

IG provides both CFD trading and real equity. US traders cannot trade CFDs.

Trading Experience
📈 Minimum Stock Trade Size
N/A 1 Share
📉 Minimum ETFs Trade Size
N/A 1 ETF
📈 Minimum Crypto Trade Size
$10

0.01 Contracts (IG Provides a standard contract containing a particular quantity of an asset, for example, ADA’s contract has 100 ADA coins)

📉 Minimum FX Trade Size
N/A

1 Contract (IG Provides a standard contract containing a particular quantity of an asset, for example, 1 EUR / USD standard contract has 10,000 units)

📈 Minimum Commodities Trade Size
N/A 1 Contract
📉 Minimum Bonds Trade Size
N/A 1 Contract
📈 Minimum Futures Trade Size
N/A 1 Contract
📉 Minimum Options Trade Size
N/A Varies per option (usually 1 contract)
💪 Retail Leverage
Up to 1:20 Up to 1:30
💪 Professional Leverage
N/A Up to 1:500
✍ Customisable Leverage
N/A No
🎲 Deleveraged Trading
Yes No
🎓 Demo Account
No Yes
📱 IOS App
Yes Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
No Yes
📺 MetaTrader 5
No No
💻 Web trader
Yes Yes
💻 TradingView Platform
Yes No
💻 Proprietary Platform
Yes Yes
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
No No
👫 Social Trading
No No
🔑 Guaranteed Stop-loss
No Yes
🔨 Trailing Stop-loss
No Yes
Fees
💰 Inactivity Fee
No

After 24 months of inactivity, IG charges an $18 monthly fee.

💰 Deposit Fees
No No
💰 Withdrawal Fees
No No
💰 Commissions

Binance charges a fixed 0.1% trade value fee for spot trades.

Yes, they charge depending on the client’s account base currency and exchange location of the shares being traded. For example, for some clients US shares can have a minimum charge of $10 in-and-out.

Spreads
📈 EUR/USD
N/A Dynamic - From 0.9 Pips
📉 SP500
N/A Dynamic - From 150 Pips
📈 GOLD
N/A Dynamic - From 50 Pips
📉 TSLA (Stock CFD)
N/A Dynamic - From $1.03
📈 XLK (ETF - CFD)
N/A Dynamic - From 0 Pips
📉 BTC
Dynamic - From $1 Dynamic - From $140
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No No
🗓 Economic Calendar
No Yes
📜 Integrated Newsfeed
No Yes
📡 Reuters Feed
No Yes

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