Binance
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Investing in cryptocurrencies involves risk.

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Plus500
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72% of retail CFD accounts lose money

Binance Vs. Plus500 - Compare and Choose the Right One

Updated Jan 12 2022

Visit

Investing in cryptocurrencies involves risk.

Visit

72% 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.

Plus500 is an international broker specialised in CFD trading with a big range of assets including CFDs based on American options

Best For
  • Avid cryptocurrency traders and investors from intermediate to expert levels
  • Day traders looking for a high liquidity exchange with competitive fees
  • Intermediate traders looking to trade short term
  • Experienced traders looking to speculate using CFDs based on options
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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
  • CFDs on american options offered
  • Low minimum trade sizes
  • Propietary platform with multi-charting tools
The Bad
  • Interface can be complex to use for beginners
  • The wide selection of products and derivatives can also be intimidating for beginners
  • No ability to remove leverage
  • All instruments are CFDs, you can't buy underlying assets (real stocks or cryptocurrencies)
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.

  • CySec (Cyprus)
  • FCA (UK)
  • ASIC (Australia)
  • MAS (Singapore)
📍 Year Founded
2017 2008
💳 Minimum Deposit
0 $, €, £ - 100
💰 Payment Methods
  • All supported cryptocurrencies
  • Bank transfers
  • Visa
  • Mastercard
  • Visa
  • Mastercard
  • Bank Transfer
  • Paypal
  • Skrill
💵 Account Base Currencies
All supported cryptocurrencies. 16 - USD, GBP, EUR, CHF, AUD, JPY, PLN, HUF, CZK, CAD, TRY, SEK, NOK, SGD.
🗽 Available to U.S Citizens
Yes (excluding few states) No
❌ Restricted Countries
None US, CA, CU, SY, IR.
📊 STP Account
No Yes
📊 DMA Account
No No
📊 ECN Account
No No
Assets
📚 Available Assets
  • More than 700+ real cryptocurrencies
  • A wide selection of derivatives based on real cryptocurrencies such as futures, vanilla options, etc.

CFDs on stocks, ETFs, currencies, commodities, cryptocurrencies, indices and options.

📙 Stocks
N/A 2,000+
📘 Currency Pairs
N/A 70
📗 Commodities
N/A 25
📕 Indices
N/A 26
📔 ETFs
N/A 95
💸 Cryptocurrencies
700+ 14
📒 Bonds
N/A N/A
📓 Options
N/A

Option CFDs (Calls and Puts) on: Alphabet, Facebook, Apple, Deutsche Bank, Snap, Twitter, Amazon, Microsoft, Netflix, Tesla and NIO along with major indices and EUR/USD.

📗 Futures
N/A N/A
📝 Notes:

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

All of Plus500's assets are CFDs.

Trading Experience
📈 Minimum Stock Trade Size
N/A Varies by Stock (Eg: 0.05 units of Tesla)
📉 Minimum ETFs Trade Size
N/A Varies by ETF (Eg: 0.5 units of XLK)
📈 Minimum Crypto Trade Size
$10 Varies by Crypto (Eg: 0.001 BTC)
📉 Minimum FX Trade Size
N/A $1,000
📈 Minimum Commodities Trade Size
N/A Varies by Commoditty (Eg: 0.2 Troy ounces of Gold)
📉 Minimum Bonds Trade Size
N/A N/A
📈 Minimum Futures Trade Size
N/A N/A
📉 Minimum Options Trade Size
N/A Varies by Option (Eg: 5 contracts of Tesla Calls)
💪 Retail Leverage
Up to 1:20 Up to 1:30
💪 Professional Leverage
N/A Up to 1:300
✍ Customisable Leverage
N/A No
🎲 Deleveraged Trading
Yes No
🎓 Demo Account
No Yes
📱 IOS App
Yes Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
No No
📺 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 Yes, $10 every 3 months
💰 Deposit Fees
No No
💰 Withdrawal Fees
No No
💰 Commissions

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

No
Spreads
📈 EUR/USD
N/A Dynamic - From 0.8 Pips
📉 SP500
N/A Dynamic - From 70 Pips
📈 GOLD
N/A Dynamic - From 30 Pips
📉 TSLA (Stock CFD)
N/A Dynamic - From $5.2
📈 XLK (ETF - CFD)
N/A Dynamic - From 7 Pips
📉 BTC
Dynamic - From $1 Dynamic - From $136
Research and Analysis
⭐ Watchlists
Yes No, only allows setting an individual favourites list
🔭 Stock Screener
No No
🗓 Economic Calendar
No Yes
📜 Integrated Newsfeed
No No
📡 Reuters Feed
No No

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