Binance
Forex.com
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Overview
Binance was founded in 2017 and is headquartered in Japan, while Forex.com was established in 2001 and is based in United States. Binance holds licences including Unregulated, while Forex.com is regulated by Financial Conduct Authority (FCA) among others. Binance serves 13500000 clients worldwide; Forex.com has 150,000+. The minimum deposit is $100 at Binance and Typical at Forex.com.
| Feature | Binance | Forex.com |
|---|---|---|
| Min. Deposit | $100 | Typical |
| Regulation | Unregulated | Financial Conduct Authority (FCA), Cayman Islands Monetary Authority (CIMA), Investment Industry Regulatory Organization of Canada (IIROC), National Futures Association (NFA) |
| Founded | 2017 | 2001 |
| Country | Japan | United States |
| Clients | 13500000 | 150,000+ |
Fees
Fees are a critical factor when choosing between Binance and Forex.com, directly affecting your bottom line as a trader. Binance has a lower barrier to entry with a minimum deposit of $100 (vs Typical at Forex.com). Both brokers charge withdrawal fees. Forex.com applies inactivity fees on dormant accounts; Binance does not. Binance charges deposit fees; Forex.com does not. Overall, Binance scores higher on fees in our assessment.
| Feature | Binance | Forex.com |
|---|---|---|
| Min. Deposit | $100 | Typical |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | No | Yes |
| Deposit Fees | Yes | Yes |
| CFD Fees | No | Yes |
Platforms
Binance offers MT4, MT5, cTrader, a proprietary platform, while Forex.com supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Both brokers support copy or social trading, catering to less hands-on investors. Binance edges ahead on platform breadth and functionality in our scoring.
| Feature | Binance | Forex.com |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | Desktop, Android, iPhone/iPad, Mac | MT4, MT5, WebTrader, Advantage Trader Pro, TradingView, Tablet and mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Binance and Forex.com compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. Binance scores higher overall in education and research.
| Feature | Binance | Forex.com |
|---|---|---|
| Forex Education | Yes | No |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | Yes | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Binance accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while Forex.com supports 3 (bank transfer, credit/debit card, PayPal). Forex.com uniquely supports PayPal among the two brokers. Forex.com scores higher on deposit and withdrawal flexibility.
| Feature | Binance | Forex.com |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | Yes |
| Skrill | No | No |
| Neteller | No | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Binance and Forex.com offer live chat support. Both provide phone support. Email support is available at both brokers. Binance supports 2 languages and Forex.com supports 3, giving Forex.com broader global reach. Both brokers are comparable on support quality.
| Feature | Binance | Forex.com |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, Chinese, Arabic |