Binance Vs. Saxo Bank - Compare Trustworthiness, Capabilities, Fees and Legitimacy


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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