Binance has been flagged by Comisión para el Mercado Financiero (Financial Market Commission) for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Binance changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Responsive team|Quick verification|Market news feed
Cons: Could offer more webinars|Inactivity fee applies after 12 months
I referred a friend to Binance through a financial advisor. We both deposited. The referral bonus never arrived. Support said we did not meet the terms. When we asked which terms they pointed to a clause that was added after we signed up. Shady.
Pros: Comprehensive tools|Instant funding
Cons: Some tools only available on higher tiers|No fractional shares
Where do I even begin with Binance? since mid-2025 of broken promises, unanswered tickets, and a platform that feels like it was built in 2010. They spend more on marketing than on actually improving their service. Stay away from this company.
Pros: Risk management tools|Fast support response|Personal attention|Comprehensive tools
Cons: Cannot customize dashboard fully
After doing some research AFTER the fact (I know, I should have done this first), I discovered that Binance is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Pros: Professional looking website
Cons: Withdrawal fees demanded|Communication cut off|Not authorized
Binance has the worst mobile app I have ever used for investing. It crashes constantly, features that work on desktop are missing entirely, and the security implementation is questionable at best. How they released this app is beyond me.
Pros: Helpful community forum|Intuitive for beginners|Fast support response|Reliable uptime
Cons: Mobile app could be improved
I trusted Binance with a significant portion of my savings and I deeply regret that decision. Not because of market losses, but because of how poorly the platform performed and how dismissively the support team treated my concerns.
Pros: Copy trading available|Detailed reporting|Competitive fees
Cons: Charting tools need more indicators
My withdrawal from Binance was rejected three times for vague reasons. Each time they asked for more documents. When I finally provided everything, they said my account was under review. for about five months of being strung along.
Pros: Smooth onboarding|Clean UI|Regular updates|Intuitive for beginners
Cons: Live chat only during business hours|Search feature is basic
Binance locked my account without warning and demanded documents I had already submitted. for about five months later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Competitive fees|Multiple order types|Segregated accounts|Two-factor authentication
Cons: Some tools only available on higher tiers|No integrated tax optimization
Do not be fooled by the professional-looking website. Behind the scenes, Binance is disorganized and incompetent. I found them after seeing their ad online and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Automated trading options|Tax reports included|Full transparency|Dividend tracking
Cons: Would like more payment methods|Slow to add new assets
After seeing ads for Binance online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Comisión para el Mercado Financiero (Financial.... Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.
Cons: Unauthorized firm|Found in IOSCO warnings database