Binance Review
3.7/5 · Crypto exchange
Binance review: the lowest base fees and biggest coin selection — weighed against a 2023 US criminal settlement, no EU MiCA licence, and blocks in the Philippines and Canada.
Availability in our markets
- Philippines
- Restricted
- India
- Available
- Canada
- Restricted
Blocked in the Philippines since 2024 following the SEC; it exited Canada in May 2023. Registered with FIU-IND in India after a 2024 penalty.
Rating breakdown
- Security & regulation (30%)
- 2.5/5
- Fees (25%)
- 5/5
- Coin selection (15%)
- 5/5
- Fiat access & payments (15%)
- 2/5
- Usability & support (15%)
- 4/5
Weighted per our exchange rubric.
Pros
- Lowest base spot fees (0.10%, less with BNB)
- Largest coin selection and deep liquidity
- Publishes Merkle-tree + zk-SNARK proof of reserves
Cons
- 2023 US guilty plea and ~$4.3B penalty; founder pleaded guilty
- No EU MiCA licence; suspended some EU sign-ups after July 2026
- Blocked in the Philippines and absent from Canada
Key facts
- Spot fees (maker / taker)
- 0.1% / 0.1%
- Coins supported
- Not confirmed
- Regulation
- India FIU-IND (registered after 2024 penalty); No EU MiCA licence (Greek application withdrawn June 2026)
- Proof of reserves
- Published
- Founded
- 2017
Regular user spot rate; 0.075% with the 25% BNB discount. Card purchases cost more.
Verdict
On fees and selection Binance is hard to beat, and it publishes cryptographic proof of reserves. But its regulatory record is the weakest of the majors — a 2023 US criminal resolution, no MiCA licence, and it isn't available in the Philippines or Canada.
Who it's for
Cost-sensitive traders in India (where it's FIU-registered) who want the widest coin choice. Not an option in the Philippines or Canada.
Safety, regulation & track record
In November 2023 Binance resolved US DOJ, FinCEN and OFAC investigations for about $4.3 billion and accepted a monitor; founder Changpeng Zhao pleaded guilty and stepped down. It was also fined by India's FIU (2024) and Canada's FINTRAC (2024). It publishes proof of reserves using Merkle trees and zk-SNARK proofs. It withdrew its Greek MiCA application in June 2026.
How we researched this
Desk research on 2026-11-03 against the exchange's own fee and policy pages, regulator notices, and news reporting (listed under Sources). We did not deposit funds. Facts we couldn't confirm from a primary source are marked as such rather than guessed. Availability and fees change often — check the exchange and your local regulator before signing up.