Forex.com
Visit

Majority of retail CFD accounts lose money.

Vs.

Binance
Visit

Investing in cryptocurrencies involves risk.

Forex.com Vs. Binance - Compare and Choose the Right One

Updated May 13 2022

Visit

Majority of retail CFD accounts lose money.

Visit

Investing in cryptocurrencies involves risk.

Overview

Forex.com is a global broker headquartered in the U.S and part of StoneX (publicly traded company on NASDAQ) that specialises in offering CFDs based on commodities, currencies, indices, stocks, ETFs, shares, bonds and cryptocurrencies.

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.

Best For
  • Traders of all levels (beginner to advanced) looking for competitive pricing
  • Trades of all levels looking for a great platform variety
  • High volume traders looking for ECN or DMA accounts offering deep liquidity for large trades
  • Avid cryptocurrency traders and investors from intermediate to expert levels
  • Day traders looking for a high liquidity exchange with competitive fees
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

4

Other Licenses

2

Provided by
TheTradingBible.com

Learn More

Financial
Licenses

Regulation

Unregulated

Top-tier Licenses

0

Other Licenses

0

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • FINRA (United States)
  • FCA (UK)
  • FFAJ (Japan)
  • IIROC (Canada)
  • CySec (Cyprus)
  • CIMA (Cayman Islands)

None, not required at the moment.

The Good
  • Great platform offering (Proprietary, TradingView, MetaTrader 4 & 5)
  • Excellent asset offering (more than 5,000+ instruments)
  • Competitive spreads in some of their assets
  • 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
The Bad
  • Despite presenting a great customisable platform, it still feels messy and not intuitive to use
  • Commissions are expensive when compared to similar competitors 
  • Interface can be complex to use for beginners
  • The wide selection of products and derivatives can also be intimidating for beginners
Status
Operational Operational
Recent News
N/A N/A
Key Data
⌛ Account Opening Time
1 Day 1 Day
📋 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.

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.

📍 Year Founded
2001 2017
💳 Minimum Deposit
$100 0
💰 Payment Methods
  • Visa
  • Mastercard
  • Skrill
  • Neteller
  • Bank Transfer
  • All supported cryptocurrencies
  • Bank transfers
  • Visa
  • Mastercard
💵 Account Base Currencies
6 - GBP, USD, EUR, AUD, JPY, CHF. All supported cryptocurrencies.
🗽 Available to U.S Citizens
Yes Yes (excluding few states)
❌ Restricted Countries
None None
📊 STP Account
Yes No
📊 DMA Account
Yes No
📊 ECN Account
Yes No
Assets
📚 Available Assets

CFDs on currencies, commodities, indices, bonds, shares and cryptocurrencies.

  • More than 700+ real cryptocurrencies
  • A wide selection of derivatives based on real cryptocurrencies such as futures, vanilla options, etc.
📙 Stocks
4,500+ N/A
📘 Currency Pairs
93 N/A
📗 Commodities
35 N/A
📕 Indices
24 N/A
📔 ETFs
700+ N/A
💸 Cryptocurrencies
5 700+
📒 Bonds
14 N/A
📓 Options
N/A N/A
📗 Futures
N/A N/A
📝 Notes:

All of Forex.com’s assets are CFDs.

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

Trading Experience
📈 Minimum Stock Trade Size
Varies per share (eg: 0.3 AMZN shares) N/A
📉 Minimum ETFs Trade Size
Varies per ETF (eg: 5 contracts of XLK) N/A
📈 Minimum Crypto Trade Size
Varies per Cryptocurrency (eg: 0.01 BTC) $10
📉 Minimum FX Trade Size
$1,000 (0.01 Lots) N/A
📈 Minimum Commodities Trade Size
Varies per commodity (eg: 1 contract of Gold) N/A
📉 Minimum Bonds Trade Size
Varies per Bond (eg: 1 contract of Euro Bobl) N/A
📈 Minimum Futures Trade Size
N/A N/A
📉 Minimum Options Trade Size
N/A N/A
💪 Retail Leverage
Up to 1:30 Up to 1:20
💪 Professional Leverage
Up to 1:500 N/A
✍ Customisable Leverage
No N/A
🎲 Deleveraged Trading
Yes Yes
🎓 Demo Account
Yes No
📱 IOS App
Yes Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
Yes No
📺 MetaTrader 5
Yes No
💻 Web trader
Yes Yes
💻 TradingView Platform
Yes Yes
💻 Proprietary Platform
Yes Yes
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
No No
👫 Social Trading
No No
🔑 Guaranteed Stop-loss
No No
🔨 Trailing Stop-loss
Yes No
Fees
💰 Inactivity Fee

Yes, $15 monthly after 1 year of inactivity.

No
💰 Deposit Fees
No No
💰 Withdrawal Fees
No No
💰 Commissions

Yes depending on account type.

  • Standard account has no commissions
  • “Commission Account” and “DMA Account” have a flat $5 fee commission per lot round turn

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

Spreads
📈 EUR/USD
Dynamic - From 0.8 Pips N/A
📉 SP500
From 60 Pips N/A
📈 GOLD
From 50 Pips N/A
📉 TSLA (Stock CFD)
Dynamic - Market Spread N/A
📈 XLK (ETF - CFD)
Dynamic - Market Spread N/A
📉 BTC
From $120 Dynamic - From $1
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No No
🗓 Economic Calendar
Yes No
📜 Integrated Newsfeed
Yes No
📡 Reuters Feed
Yes No

By using TheTradingBible.com's website you agree to the use of cookies.