Binance
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Investing in cryptocurrencies involves risk.

Vs.

RoboForex
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74-89% of retail CFD accounts lose money.

Binance Vs. RoboForex - Compare and Choose the Right One

Updated May 13 2022

Visit

Investing in cryptocurrencies involves risk.

Visit

74-89% 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.

RoboForex is an international broker established in 2009 which also owns the brand RoboMarkets and specialises on CFD trading over several asset classes.

Best For
  • Avid cryptocurrency traders and investors from intermediate to expert levels
  • Day traders looking for a high liquidity exchange with competitive fees
  • Intermediate and Professional traders looking for different account offerings
  • Experienced traders looking for trading platform variety
Licenses

Financial
Licenses

Regulation

Unregulated

Top-tier Licenses

0

Other Licenses

0

Provided by
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Financial
Licenses

Regulation

Regulated

Top-tier Licenses

0

Other Licenses

1

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators

None, not required at the moment.

  • IFSC (International Financial Services Commission of Belize)
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
  • Comprehensive asset offering with more than 13,000+ instruments
  • Great platform variety (MT4, MT5, cTrader and their own proprietary platforms)
  • Custom account types with spreads from 0 pips
The Bad
  • Interface can be complex to use for beginners
  • The wide selection of products and derivatives can also be intimidating for beginners
  • Weak regulatory framework (counting on 1 license from the IFSC)
  • Doesn’t accept clients from the UK, EU and a few other countries
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.

📍 Year Founded
2017 2009
💳 Minimum Deposit
0 $10
💰 Payment Methods
  • All supported cryptocurrencies
  • Bank transfers
  • Visa
  • Mastercard
  • Visa
  • Mastercard
  • JCB
  • AstroPay
  • Skrill
  • Neteller
  • Perfect Money
  • AdvCash
  • NganLuong Wallet
  • Bank transfers (SEPA, local and several options per country)
💵 Account Base Currencies
All supported cryptocurrencies. 4 - USD, EUR, CNY, GOLD.
🗽 Available to U.S Citizens
Yes (excluding few states) No
❌ Restricted Countries
None

US, CA, JP, AU, BQ, CW, TL, RU, GQ, FM, MP, SJ, SS, UK, European Union.

📊 STP Account
No Yes
📊 DMA Account
No No
📊 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.

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

📙 Stocks
N/A 12,000+
📘 Currency Pairs
N/A 40+
📗 Commodities
N/A 100+
📕 Indices
N/A 50+
📔 ETFs
N/A 1,000+
💸 Cryptocurrencies
700+ 16
📒 Bonds
N/A N/A
📓 Options
N/A N/A
📗 Futures
N/A N/A
📝 Notes:

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

All of RoboForex’s assets are CFDs.
Trading Experience
📈 Minimum Stock Trade Size
N/A

Depends on each platform: from $1,000 (0.01 Lots) to $10,000 (0.1 Lots)

📉 Minimum ETFs Trade Size
N/A

Depends on each platform: from $1,000 (0.01 Lots) to $10,000 (0.1 Lots)

📈 Minimum Crypto Trade Size
$10

Depends on each platform: from $1,000 (0.01 Lots) to $10,000 (0.1 Lots)

📉 Minimum FX Trade Size
N/A

Depends on each platform: from $1,000 (0.01 Lots) to $10,000 (0.1 Lots)

📈 Minimum Commodities Trade Size
N/A

Depends on each platform: from $1,000 (0.01 Lots) to $10,000 (0.1 Lots)

📉 Minimum Bonds Trade Size
N/A N/A
📈 Minimum Futures Trade Size
N/A N/A
📉 Minimum Options Trade Size
N/A N/A
💪 Retail Leverage
Up to 1:20 Up to 1:2000
💪 Professional Leverage
N/A N/A
✍ Customisable Leverage
N/A Yes
🎲 Deleveraged Trading
Yes No
🎓 Demo Account
No Yes
📱 IOS App
Yes Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
No Yes
📺 MetaTrader 5
No Yes
💻 Web trader
Yes Yes
💻 TradingView Platform
Yes No
💻 Proprietary Platform
Yes Yes
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
No Yes
👫 Social Trading
No No
🔑 Guaranteed Stop-loss
No No
🔨 Trailing Stop-loss
No Yes
Fees
💰 Inactivity Fee
No No
💰 Deposit Fees
No No
💰 Withdrawal Fees
No

Yes for some methods (eg: Some bank withdrawals can cost up to 1.5% of the amount)

💰 Commissions

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

Yes depending on account type (eg: for ECN accounts there are commissions up to $20).

Spreads
📈 EUR/USD
N/A

Dynamic - From 0 Pips depending on account type, 1.4 Pips on Average

📉 SP500
N/A Dynamic - Market Spread
📈 GOLD
N/A Dynamic - From 17 Pips
📉 TSLA (Stock CFD)
N/A Dynamic - Market Spread
📈 XLK (ETF - CFD)
N/A Dynamic - Market Spread
📉 BTC
Dynamic - From $1 Dynamic - From $220
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No No
🗓 Economic Calendar
No Yes
📜 Integrated Newsfeed
No No
📡 Reuters Feed
No No

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