Binance
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Skilling
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Binance Vs. Skilling - Compare and Choose the Right One

Updated Jan 12 2022

Visit

Investing in cryptocurrencies involves risk.

Visit

Your Capital is at risk.

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.

Skilling is a multi-platform global broker founded in 2016 that specialises in 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
  • Forex traders who want relatively straightforward, intuitive platforms with low commissions
  • Beginner traders who need assistance implementing first trades
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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
  • Multiple intuitive platforms for traders with different levels of experience
  • Several payment methods for deposits and withdrawals
  • No commission for standard accounts
  • Trade Assistant tool is great for beginners opening their first trade
The Bad
  • Interface can be complex to use for beginners
  • The wide selection of products and derivatives can also be intimidating for beginners
  • Doesn’t allow deleveragred trading or customizable leverage
  • Charges commission on forex and spot metal trading for premium accounts 
  • Asset offering is not that comprehensive
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 documents (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)
  • FSA (Seychelles)
📍 Year Founded
2017 2016
💳 Minimum Deposit
0 $, €, £ - 100 (Standard, MT4), 5,000 (Premium, MT4 Premium)
💰 Payment Methods
  • All supported cryptocurrencies
  • Bank transfers
  • Visa
  • Mastercard
  • Visa
  • Mastercard
  • Fasapay
  • Webmoney
  • PayRetailers
  • PayTrust
  • Pagsmile
  • Directa
  • NganLuong.vn
  • UnionPay
  • Skrill
  • Neteller
  • Bank Transfer
💵 Account Base Currencies
All supported cryptocurrencies. 5 - EUR, USD, GBP, NOK, SEK.
🗽 Available to U.S Citizens
Yes (excluding few states) No
❌ Restricted Countries
None US, SY, IR.
📊 STP Account
No Yes - depending on product traded, available liquidity and trade size
📊 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, currencies, commodities, cryptocurrencies, indices and ETFs

📙 Stocks
N/A 762
📘 Currency Pairs
N/A 73
📗 Commodities
N/A 6
📕 Indices
N/A 18
📔 ETFs
N/A 45
💸 Cryptocurrencies
700+ 34
📒 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 Skilling’s assets are CFDs

Trading Experience
📈 Minimum Stock Trade Size
N/A Varies per share - From 0.1 shares (Fractional trading)
📉 Minimum ETFs Trade Size
N/A Varies per ETF (Eg: VanEck Gold Miners 0.1 unit, XLK 1 unit)
📈 Minimum Crypto Trade Size
$10 Varies per Cryptocurrency (Eg: 0.01 BTC, 0.5 LTC)
📉 Minimum FX Trade Size
N/A $1,000 (0.01 Lots)
📈 Minimum Commodities Trade Size
N/A Varies per commodity (eg: Gold 0.1 contracts, Silver 10 contracts)
📉 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 1:30
💪 Professional Leverage
N/A Up to 1:500
✍ Customisable Leverage
N/A No
🎲 Deleveraged Trading
Yes No
🎓 Demo Account
No Yes
📱 IOS App
Yes Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
No Yes
📺 MetaTrader 5
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, for cTrader, MT4 and MT4 Premium accounts
Fees
💰 Inactivity Fee
No No
💰 Deposit Fees
No No
💰 Withdrawal Fees
No No
💰 Commissions

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

Skilling charges commission on its forex pairs and spot metals for its premium account. The commission starts from $35 per million USD traded (eg: EUR/USD $35, GBP/USD $40 and Gold $60)

Spreads
📈 EUR/USD
N/A Dynamic - From 0 to 1.3 Pips
📉 SP500
N/A Dynamic - From 120 Pips
📈 GOLD
N/A Dynamic - From 36 Pips
📉 TSLA (Stock CFD)
N/A Dynamic - From $4.62
📈 XLK (ETF - CFD)
N/A Dynamic - From $0.84
📉 BTC
Dynamic - From $1 Dynamic - From $131.8
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No No
🗓 Economic Calendar
No Yes
📜 Integrated Newsfeed
No Yes
📡 Reuters Feed
No No

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