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Binance Futures Exchange Review 2025

Written by Charles

Written by:

Charles

Hi, I'm Charles Johns, a Finance graduate with a specialization in Financial Management from the University of Chicago. My journey through financial markets has fueled a passion for both traditional and digital assets, where I continuously explore evolving investment opportunities. As an active trader and cryptocurrency enthusiast, I strive to bridge the gap between complex financial concepts and practical, real-world applications. My goal is to empower everyone, whether seasoned investors or newcomers, with valuable insights and knowledge to confidently navigate the world of finance and crypto investing.

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Expert Reviewed

This article has been reviewed by crypto market experts at SCM to ensure all the content, sources, and claims adhere to the highest standards of accuracy and reliability.

Last Updated on February 1, 2025

  • Binance, launched in 2017, quickly became the world’s largest cryptocurrency exchange by trading volume, offering over 500 cryptocurrencies to users in more than 180 countries.

    The platform caters to novice and experienced traders with features ranging from spot trading to futures and options, all within a user-friendly interface designed to enhance your trading experience.

    Despite its massive user base of over 90 million, Binance faces challenges such as account access issues, hidden fees, and customer service concerns. It’s essential to weigh these factors against its extensive offerings and global reach.

    Product Offerings: What Is Binance Exchange All About?

    Binance offers a diverse range of cryptocurrency products and services. These include advanced trading options, passive income opportunities, and digital collectibles.

    Binance Futures

    Binance’s futures trading platform allows you to trade with leverage up to 125x.

    This means you can control more prominent positions with a smaller initial investment. Perpetual contracts are a popular futures product on Binance, offering continuous exposure without expiration dates.

    You can trade a wide variety of cryptocurrency pairs on the futures platform. The interface provides advanced charting tools and order types to help execute your strategies effectively.

    Successful futures trading on Binance often involves careful risk management.

    For example, you might use stop-loss orders to limit potential losses and take profit orders to secure gains automatically.

    Spot

    Spot trading on Binance gives you access to hundreds of cryptocurrency trading pairs. You can buy, sell, and exchange cryptocurrencies at current market prices.

    The platform supports market orders, limit orders, and stop-limit orders. This allows you to execute trades according to your specific price targets or market conditions.

    Binance Convert is a valuable feature for spot traders.

    It lets you swap one cryptocurrency for another without incurring trading fees. For instance, you could quickly convert BTC to ETH at the current market rate with just a few clicks.

    Staking

    Binance’s staking platform allows you to earn passive income on your cryptocurrency holdings. You can stake various coins and tokens, including popular options like BNB, DOT, and ADA.

    Staking rewards vary by asset and are typically distributed daily or weekly. The annual percentage yield (APY) can range from a few percent to double-digit returns for some assets.

    For example, staking BNB on Binance might earn you around 1-3% APY, while staking DOT could yield 10-15% APY. These returns can compound, growing your crypto holdings without active trading.

    NFTs

    Binance NFT is a marketplace for digital collectibles and artwork. You can buy, sell, and trade NFTs from various collections and creators on this platform.

    The marketplace supports NFT minting, allowing artists and creators to tokenize their work. You can browse NFTs by category, including art, gaming, and sports.

    Popular NFT collections on Binance have included collaborations with major brands and celebrities.

    For instance, a successful NFT launch might feature limited edition digital artworks or collectibles tied to real-world events or experiences.

     

    Binance Supported Coin List

    binance supported coins

    Binance offers an extensive selection of over 350 cryptocurrencies for trading. This wide range includes significant coins like Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB).

    You’ll also find popular altcoins such as Cardano (ADA), Solana (SOL), and Polkadot (DOT) available on the platform. Lesser-known tokens like Fetch.ai (FET), Ontology (ONT), and Anchor Protocol (ANC) are tradable as well.

    Binance’s coin offerings typically surpass those of other major exchanges. For example, you can access a broader selection compared to platforms like Coinbase or Kraken.

    Here’s a small sample of supported cryptocurrencies on Binance:

    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
    • Cardano (ADA)
    • Solana (SOL)
    • Polkadot (DOT)
    • Cosmos (ATOM)
    • Litecoin (LTC)
    • Chainlink (LINK)
    • Uniswap (UNI)

    Binance regularly adds new coins and tokens to its platform. You can check their website or official announcements for the most up-to-date list of supported cryptocurrencies.

     

    Binance Order Types

    Binance offers a variety of order types to suit different trading strategies. Market orders execute immediately at the best available price. Limit orders let you set a specific price to buy or sell.

    Stop-limit orders combine a stop price to trigger the order and a limit price to execute it. This helps manage risk and automate entries or exits.

    OCO (One-Cancels-the-Other) orders allow you to place two orders simultaneously. When one executes, the other is automatically canceled.

    Post-only orders ensure you’re always the maker, not the taker. They’re added to the order book only if they would provide liquidity.

    Isolated margin orders use a separate margin balance for each trading pair. This limits your risk to the amount allocated for that specific trade.

    To place an order on Binance:

    1. Select the trading pair
    2. Choose your order type
    3. Enter the amount and price (if applicable)
    4. Review and confirm

    Market orders are ideal for quick executions. Use limit orders when you have a target price in mind. Stop-limit orders help protect profits or limit losses.

    OCO orders help set both take-profit and stop-loss levels. Post-only orders can reduce fees for high-volume traders. Isolated margin orders allow for more precise risk management in leveraged trading.

     

    Binance’s Liquidation Mechanism

    Binance’s liquidation process helps manage risk in leveraged trading. When your position’s losses reach a certain threshold, liquidation occurs to prevent further losses.

    The liquidation price depends on your leverage and margin mode. Higher leverage means a liquidation price closer to your entry price.

    You can automatically use stop-loss orders to close positions before liquidation. Take-profit orders help secure gains at predetermined price levels.

    Binance’s system monitors positions continuously. Your position is automatically closed if the market price reaches your liquidation price.

    Let’s look at an example:

    • You open a 10x leveraged long position on BTC/USDT at $30,000. Your liquidation price would be around $27,000.
    • If BTC’s price drops to $27,000, Binance’s system closes your position. Your collateral is used to cover losses and fees.

    To avoid liquidation, you can:

    • Use lower leverage
    • Add more margin to your position
    • Set stop-loss orders
    • Monitor your positions closely

    Remember, leveraged trading carries high risk. Always trade responsibly and within your means.

     

    Binance Trading Fees

    binance fees

    Binance offers competitive trading fees starting at 0.1% for maker and taker orders. This flat rate applies to spot trading and can be further reduced through various methods.

    You can lower your fees using Binance Coin (BNB) to pay for transactions. This grants you a 25% discount on trading fees.

    Binance uses a tiered fee structure based on your 30-day trading volume. As your trading volume increases, your fees decrease. Here’s a simplified breakdown:

    30-day Volume (BTC) Maker Fee Taker Fee
    < 50 0.1000% 0.1000%
    50-100 0.0900% 0.1000%
    100-500 0.0800% 0.0900%
    > 500 0.0700% 0.0800%

    For high-volume traders, fees can drop significantly. If you trade 10,000 BTC in 30 days, your maker fee could be as low as 0.02% and your taker fee 0.04%.

    Binance.US, the American version of the exchange, offers even lower fees. You can trade Bitcoin without fees, regardless of your trading volume.

    Remember to check the current fee schedule on Binance’s website, as rates may change over time.

     

    Binance Funding Rates/Fees

    Binance uses a funding rate mechanism for its perpetual futures contracts. This system helps keep the futures price aligned with the spot price.

    Funding rates are periodic payments exchanged between long and short-position holders. They occur every 8 hours for most contracts on Binance Futures.

    When the funding rate is positive, long positions pay short positions. When negative, short positions pay long positions. The rate is based on the difference between perpetual and mark prices.

    Binance’s funding rate frequency is comparable to other major exchanges. However, some contracts now settle every 4 hours instead of 8.

    Here’s a simplified example of a funding fee calculation:

    • Position Size: 1,000 USDT
    • Funding Rate: 0.01% (0.0001)
    • Funding Fee = 1,000 * 0.0001 = 0.1 USDT

    You can view real-time funding rates and historical data on the Binance Futures platform. This information helps you make informed trading decisions.

    Remember, funding fees are exchanged between traders and are not paid to Binance. They can impact your overall profits or losses, so factor them into your trading strategy.

     

    Binance Deposit & Withdrawal Fees

    Binance offers multiple deposit methods to fund your account. Bank transfers are often free but can take 1-3 business days. Credit/debit card deposits are instant but incur around 3-4% fees.

    Cryptocurrency deposits are typically free and processed within minutes to an hour, depending on network congestion.

    Withdrawal fees vary by cryptocurrency. Popular coins like Bitcoin have lower fees (0.0005 BTC), while smaller altcoins may have higher costs. Binance adjusts these periodically based on network conditions.

    Here’s an example of the deposit and withdrawal process:

    1. Deposit $1000 via bank transfer (free)
    2. Wait 1-2 business days for funds to arrive
    3. Buy Bitcoin with deposited funds
    4. Withdraw 0.05 BTC to an external wallet
    5. Pay a 0.0005 BTC fee
    6. Receive funds in 10-60 minutes

    You can check current fees for your preferred methods on Binance’s fee schedule page. Always verify the network and address when withdrawing to avoid losses.

    Binance aims to keep fees competitive while covering operational costs. Compare fees across exchanges to find the best rates for your trading needs.

     

    Binance Account Types & Binance KYC Tiers & Limits

    Binance offers several account types to suit your trading needs:

    • Spot Account: This is for buying and selling cryptocurrencies directly.
    • Futures Account: Allows you to trade cryptocurrency derivatives with leverage.
    • Margin Account: Enables borrowing funds to increase your trading position.
    • OTC Account: Designed for large trades executed directly between parties.

    Binance implements a tiered Know Your Customer (KYC) system to enhance security and comply with regulations:

    Basic Verification:

    • Limited access to Binance features
    • Daily withdrawal limit: 0.06 BTC

    Intermediate Verification:

    • Requires personal information and government ID
    • Increased withdrawal limits

    Advanced Verification:

    • Additional documentation needed
    • Highest withdrawal limits (up to 100 BTC daily)

    To complete KYC, log into your Binance account and navigate to the “Account” section. Click “Basic Verification” and follow the prompts to provide the required information and documents.

    Higher KYC levels offer benefits such as:

    • Increased withdrawal limits
    • Access to more trading features
    • Lower trading fees
    • Ability to participate in specific promotions

    Verifying your account gives you full access to Binance’s trading products and services.

     

    Binance Trading Platform & Tools

    binance futures ui

    Binance offers a robust trading platform for margin and futures trading with an intuitive user interface. You’ll find a clean layout that displays essential market data, order books, and trading pairs at a glance.

    The platform provides basic and advanced trading views to suit different experience levels.

    For novice traders, the simple interface allows quick buy and sell orders. Advanced users can access more complex features like margin trading and futures contracts.

    Binance equips you with powerful trading tools:

    • Advanced charting with multiple indicators and drawing tools
    • Real-time market data and depth charts
    • API support for algorithmic trading
    • Trading bot integration options

    To analyze markets, you can use Binance’s built-in charting tools.

    For example, applying moving averages and RSI indicators to a BTC/USDT chart helps identify potential trend reversions and overbought/oversold conditions.

    The order book depth visualization gives insight into buy and sell pressure at different price levels. This can inform your entry and exit decisions when placing trades.

    Binance also offers mobile apps for iOS and Android, allowing you to trade on the go. 

    The apps mirror most web platform functionality while optimizing the interface for smaller screens. To learn how to trade on the exchange, check out Binance tutorial.

     

    Binance Insurance Fund

    Binance maintains an insurance fund to protect users’ assets in extreme market conditions. This fund, SAFU (Secure Asset Fund for Users), was established in July 2018.

    SAFU receives 10% of all trading fees collected on the platform. As of 2022, it reached a valuation of $1 billion, demonstrating Binance’s commitment to user protection.

    The insurance fund serves several purposes:

    • Covering losses from hacks or security breaches
    • Managing liquidations in futures trading
    • Absorbing losses from bankrupt accounts

    In futures trading, the fund takes on positions from liquidations and gradually offloads them to the market. This process helps prevent sudden price movements and maintain market stability.

    Binance’s insurance fund is one of the largest in the crypto industry. For comparison, other major exchanges like BitMEX and Deribit maintain insurance funds but have smaller balances.

    You can view the current balance of the SAFU fund on Binance’s website. This transparency allows you to assess the level of protection available for your assets.

    While the insurance fund provides an additional layer of security, it’s important to remember that crypto investments still carry inherent risks.

    Always practice good security habits and only invest what you can afford to lose.

     

    Binance Deposit Methods

    Binance offers a variety of deposit methods to suit your needs. You can fund your account using cryptocurrencies, fiat currencies, credit/debit cards, and bank transfers.

    Select the coin you want to deposit for cryptocurrency deposits and use the provided wallet address. This method is instant and typically free of charge.

    Fiat deposits can be made via bank transfer or credit/debit card. Bank transfers often have lower fees but may take 1-3 business days to process.

    Credit/debit card deposits are instant but come with higher fees, usually around 3-4%.

    To deposit funds, log into your Binance account and navigate to the “Deposit” section. Choose your preferred method and follow the on-screen instructions.

    Here’s a quick comparison of deposit methods:

    Method Speed Fees
    Crypto Instant Free/Low
    Bank Transfer 1-3 days Low
    Credit/Debit Card Instant Higher (3-4%)

    When choosing a deposit method, consider your priorities.

    A credit card might be best if you need funds immediately and don’t mind higher fees. For more significant amounts, bank transfers offer lower costs if you can wait a few days.

    Remember to verify your account before making large deposits. This helps ensure a smooth experience and may unlock higher deposit limits.

     

    Binance Security Features

    Binance prioritizes the safety of your assets through multiple security measures.

    Two-factor authentication (2FA) adds extra protection to your account. You can enable 2FA using Google Authenticator or SMS verification.

    Cold storage is another critical feature. Binance stores most user funds offline in secure wallets, minimizing the risk of hacks or theft.

    Dynamic encryption protocols safeguard your data and transactions. These protocols are regularly updated to stay ahead of potential threats.

    Binance conducts frequent security audits to identify and address vulnerabilities. Third-party firms perform these audits, ensuring an unbiased assessment of the platform’s defenses.

    The exchange has obtained several security certifications, including ISO/IEC 27001 and ISO/IEC 27701.

    These certifications demonstrate Binance’s commitment to maintaining robust information security management systems.

    Many users report feeling confident in Binance’s security measures. The platform’s track record of quickly addressing and resolving past incidents has contributed to this trust.

    You can enhance your account security using address allowlisting and device management features. These tools give you more control over who can access your account and from which devices.

     

    Binance Customer Support

    Binance offers several customer support options to assist you with issues or questions. These include live chat, email support, support tickets, and community forums.

    Many users report mixed experiences with Binance’s customer support responsiveness. Some find the live chat helpful for quick queries, while others note long wait times.

    Email support and tickets can take a few hours to several days to get a response. The thoroughness of answers varies.

    For a typical issue like account verification problems, you’d open a support ticket describing the issue.

    A representative may ask for additional documentation or screenshots. They’ll then guide you through the verification steps.

    Binance’s community forums allow you to search for solutions to common problems. Fellow users often provide helpful advice.

    Pro tip: Before contacting support, check Binance’s extensive FAQ section. It covers many basic questions and can save you time.

    While not perfect, Binance’s customer support has improved over time. Being prepared with relevant details about your issue can help speed up resolution times.

     

    Is Binance a Legal & Safe Platform?

    Binance is a global cryptocurrency exchange, but its legal status varies by country. In some jurisdictions, it’s fully licensed and regulated. In others, it faces regulatory challenges.

    Binance has obtained licenses in several countries, including France, Italy, and Dubai. This demonstrates their commitment to compliance in specific markets.

    However, the exchange has faced regulatory issues in places like the UK, Netherlands, and Japan. Always check Binance’s legal status in your specific location before using it.

    Regarding safety, Binance employs robust security measures:

    • Two-factor authentication (2FA)
    • Address allow listing
    • Cold storage for the majority of user funds
    • Regular security audits

    Binance has also established a Secure Asset Fund for Users (SAFU) to protect against potential losses. This fund allocates a portion of trading fees to cover extreme cases.

    In response to regulatory inquiries, Binance has taken steps to enhance compliance:

    • Implemented stricter KYC procedures
    • Hired former regulators as advisors
    • Increased transparency in operations

    While Binance generally maintains a good reputation for security, it’s important to note that no exchange is 100% safe. Always practice caution and use strong security measures when trading cryptocurrencies.

     

    Conclusion

    In conclusion, Binance remains a top choice among cryptocurrency exchanges, offering low trading fees and a vast selection of over 500 cryptocurrencies, making it appealing to a broad spectrum of traders.

    The platform caters to beginners and experienced users with its support for fiat-to-crypto pairs and advanced trading features. Binance’s high trust score and significant trading volume attest to its reliability.

    The user-friendly interface and educational resources make it an excellent starting point for novice traders, while advanced charting tools and diverse trading options satisfy more experienced users.

    With robust security measures, including two-factor authentication and the Secure Asset Fund for Users (SAFU), Binance prioritizes user safety.

    However, it’s essential to be aware of potential regulatory challenges affecting access to certain services, depending on your location.

    Overall, Binance’s commitment to innovation and expanding services solidifies its position as a strong contender for cryptocurrency enthusiasts.

    When deciding if Binance suits you, consider your trading needs, risk tolerance, and local regulations.

    Check how Binance stands up against its competition:

    About the Authors

    Hi, I'm Charles Johns, a Finance graduate with a specialization in Financial Management from the University of Chicago. My journey through financial markets has fueled a passion for both traditional and digital assets, where I continuously explore evolving investment opportunities. As an active trader and cryptocurrency enthusiast, I strive to bridge the gap between complex financial concepts and practical, real-world applications. My goal is to empower everyone, whether seasoned investors or newcomers, with valuable insights and knowledge to confidently navigate the world of finance and crypto investing.