Binance Vs. Oanda - Compare and Choose the Right One

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.

Oanda is an international Forex broker founded in 1996 with headquarters in the United States. Oanda specialises exclusively in currency trading solutions for all trader levels. Their greatest selling points are their strong regulatory framework and robust proprietary platforms.

• Avid cryptocurrency traders and investors from intermediate to expert levels
• Day traders looking for a high liquidity exchange with competitive fees

• Forex traders of all levels (from beginner to advanced)

• 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

• High trustworthiness, regulated by the best regulators in the world
• Fast, simple and professional trading platforms
• Competitive spreads in their currency pairs

• Interface can be complex to use for beginners
• The wide selection of products and derivatives can also be intimidating for beginners

• Extremely limited offering of assets (104)
• No ability to purchase real stocks or cryptocurrencies, only CFDs

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.

*There is no document verification needed for gross account deposits below US$9,000.

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

All Oanda's assets are CFDs. In the case of commodities, they only have 13, but each commodity has various trading pairs against several different currencies, eg: GOLD/EUR, GOLD/CHF, etc.

Credit and Debit cards are free, when it comes to Bank transfer depends on the account's base currency (eg: the first withdrawal costs $, €, £ 20 and any subsequent ones 35). In the case of SGD, there are no fees.

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

No, but they do charge currency conversion fees. If your account base currency is GBP and you trade the EUR/USD pair, you'll be paying a conversion fee.