Binance
freetrade
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Overview
Binance was founded in 2017 and is headquartered in Japan, while freetrade was established in 2016 and is based in United Kingdom. Binance holds licences including Unregulated, while freetrade is regulated by Financial Conduct Authority. Registered in England and Wales (no. 09797821) among others. Binance serves 13500000 clients worldwide; freetrade has 890,000+. The minimum deposit is $100 at Binance and $0 at freetrade.
| Feature | Binance | freetrade |
|---|---|---|
| Min. Deposit | $100 | $0 |
| Regulation | Unregulated | Financial Conduct Authority. Registered in England and Wales (no. 09797821) |
| Founded | 2017 | 2016 |
| Country | Japan | United Kingdom |
| Clients | 13500000 | 890,000+ |
Fees
Fees are a critical factor when choosing between Binance and freetrade, directly affecting your bottom line as a trader. freetrade has a lower barrier to entry with a minimum deposit of $0 (vs $100 at Binance). Binance charges withdrawal fees while freetrade does not, a notable advantage for frequent withdrawers. Binance charges deposit fees; freetrade does not. Overall, freetrade scores higher on fees in our assessment.
| Feature | Binance | freetrade |
|---|---|---|
| Min. Deposit | $100 | $0 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | No | No |
Platforms
Binance offers MT4, MT5, cTrader, a proprietary platform, while freetrade supports MT4, MT5, cTrader, a proprietary platform. Both brokers provide mobile trading apps for iOS and Android. Both brokers support copy or social trading, catering to less hands-on investors. The two brokers are closely matched on platform offering.
| Feature | Binance | freetrade |
|---|---|---|
| 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, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Binance and freetrade 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. The two brokers are evenly matched on educational content.
| Feature | Binance | freetrade |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | Yes | Yes |
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 freetrade supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). freetrade uniquely supports PayPal and Skrill and Neteller among the two brokers. freetrade scores higher on deposit and withdrawal flexibility.
| Feature | Binance | freetrade |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | Yes |
| Skrill | No | Yes |
| Neteller | No | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Binance and freetrade offer live chat support. Both provide phone support. Email support is available at both brokers. Binance supports 2 languages and freetrade supports 8, giving freetrade broader global reach. Both brokers are comparable on support quality.
| Feature | Binance | freetrade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |