Binance
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Investing in cryptocurrencies involves risk.

Vs.

Saxo Bank
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69% of retail CFD accounts lose money.

Binance Vs. Saxo Bank - Compare and Choose the Right One

Updated Oct 20 2022

Visit

Investing in cryptocurrencies involves risk.

Visit

69% 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.

Saxo Bank is a Danish investment bank operating since 1992. It is one of the most regulated brokerages in the world with an exceptional selection of financial instruments.

Best For
  • Avid cryptocurrency traders and investors from intermediate to expert levels
  • Day traders looking for a high liquidity exchange with competitive fees
  • Professional investors looking to trade a variety of markets
  • High net worth traders or investors
Licenses

Financial
Licenses

Regulation

Unregulated

Top-tier Licenses

0

Other Licenses

0

Provided by
TheTradingBible.com

Learn More

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

7

Other Licenses

0

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators

None

  • ASIC (Australia)
  • HKMA (Hong Kong)
  • ADGM (United Arab Emirates)
  • FINMA (Switzerland)
  • MAS (Singapore)
  • FFAJ (Japan)
  • AFM (Netherlands)
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
  • Exceptional selection of financial instruments at one place
  • 2 highly-customizable proprietary trading platforms
  • API integration for 3rd party services like Excel or TradingView
The Bad
  • Interface can be complex to use for beginners
  • The wide selection of products and derivatives can also be intimidating for beginners
  • High minimum deposit for certain countries
  • Withdrawals via bank transfer only
  • High fees on options and futures
Status
Operational Operational
Recent News

No fresh news at the moment. Check again soon!

No fresh news at the moment. Check again soon!

Key Data
⌛ Account Opening Time
1 day 4 days
📋 Documents Required
  • 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 1992
💳 Minimum Deposit Range
0 From $500 up to $2,000
💰 Payment Methods
  • Cryptocurrency
  • Bank transfers
  • Visa
  • Mastercard
  • Visa
  • Mastercard
  • Bank Transfer
💵 Account Base Currencies
All supported cryptocurrencies. 26 - AED, AUD, CAD, CHF, CNH, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, LTL, MXN, MYR, NOK, NZD, PLN, RON, RUB, SEK, SGD, TRY, USD, ZAR.
🗽 Available to U.S Citizens
Yes No
❌ Restricted Countries
None

US, BR, ES, IN, KE, MX, NG, PK, ZA.

📊 STP Account
No Yes
📊 DMA Account
No Yes
📊 ECN Account
No Yes
Banking License
No No
Debit Card
Yes No
Assets
📚 Assets Type
Hybrid Hybrid
Total Asset Offering
750 49,339
Exchange Access
0 0
📙 Real Stocks
0 30,000
📙 Stock CFDs
0 0
📘 Currency Pairs
0 0
📘 Currency Pair CFDs
0 182
📗 Commodities
0 0
📗 Commodities CFDs
0 19
📕 Indices
0 0
📕 Indices CFDs
0 29
📔 ETFs
0 5,400
📔 ETFs CFDs
0 5,400
💸 Cryptocurrencies
750 0
💸 Cryptocurrency CFDs
0 9
📒 Bonds
0 5,000
📒 Bonds CFDs
0 0
📓 Options
0 3,000
📓 Options CFDs
0 0
📗 Futures
0 300
📗 Futures CFDs
0 0
Trading Experience
📈 Minimum Stock Trade Size
Unavailable Unavailable
📉 Minimum ETFs Trade Size
Unavailable Unavailable
📈 Minimum Crypto Trade Size
$10 Varies by Cryptocurrency (eg: 0.01 units of BTC)
📉 Minimum FX Trade Size
Unavailable $1,000 (0.01 lots)
📈 Minimum Commodities Trade Size
Unavailable Unavailable
📉 Minimum Bonds Trade Size
Unavailable Unavailable
📈 Minimum Futures Trade Size
Unavailable Unavailable
📉 Minimum Options Trade Size
Unavailable Unavailable
💪 Retail Leverage
100 30
💪 Professional Leverage
Unavailable 66
✍ Customisable Leverage
Yes No
🎲 Deleveraged Trading
Yes Yes
🎓 Demo Account
No Yes
📱 IOS App
Yes Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
No No
📺 MetaTrader 5
No No
📺 cTrader
No No
💻 Web trader
Yes Yes
💻 TradingView Platform
Yes Yes
💻 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
None

Up to $150 after 6 months of inactivity, £25 after one quarter in the UK.

💰 Deposit Fees
None None
💰 Withdrawal Fees
None None
💰 Commissions

Fixed 0.1% trade value fee for spot trades.

$0.02/share (min $10) for US Stocks, from 0.10% (min €10) for other equity markets, €4 per futures contract.

Spreads
📈 EUR/USD
Unavailable Dynamic - From 0.4 to 0.8 Pips
📉 SP500
Unavailable Unavailable
📈 GOLD
Unavailable Unavailable
📉 TSLA (Stock CFD)
Unavailable Unavailable
📈 XLK (ETF - CFD)
Unavailable Unavailable
📉 BTC
Dynamic - From $1 Unavailable
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No Yes
🗓 Economic Calendar
No Yes
📜 Integrated Newsfeed
No Yes
📡 Reuters Feed
No No
📡 Educational Content
Yes No
📡 Live Chat Support
No Yes
📡 Video Tutorials
Yes No
📡 Account Management
No Yes
📡 Webinars
No No