Binance Exchange Review (2025)
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GNCrypto editors review services independently. If you click on affiliate links, we may earn commissions, which help support our testing. The goal of our reviews is to provide our readers with the most objective and unbiased overviews of available platforms for spot crypto trading.
Binance
Market leader with 41% of global spot trading volume. Binance could easily be your number one choice for trading activities.
The Bottom Line
Binance is a major spot exchange with very low fees (0.1% or less with volume/BNB) and one of the largest asset lists. In our $200 test, BTC/USDT filled instantly with negligible spreads, and the advanced terminal offered full pro tools. With 500+ assets and deep liquidity, it suits most spot traders, though regulatory limits and fiat access vary by region.
- Orders fill instantly
- Low fees
- Full pro toolset
- Watch for limits by jurisdiction
- Somewhat lacking in terms of public audits
Key Features
Binance commands around 41% of global spot trading volume and supports 500+ coins – but its legal risks and spot-cost structure require a closer look.
The exchange handles over $31 billion in daily spot volume, which is what gives Binance its reputation as the deepest place to clear BTC/USDT and ETH/USDT at retail sizes. It also shows a liquidity score of 901 on LiquidityFinder – that’s a metric you almost never see on smaller venues and it confirms what we saw in the orderbook.
We registered, verified, funded, and placed $200 worth of spot trades on Binance to see how it performs for a normal spot user. We evaluated real fees, depth on majors, asset availability, UI speed and the transparency stack (PoR, SAFU, status).
Key Features and Trading Options on Binance
Binance clearly builds the interface for two groups at once: everyday spot traders and algo/power users. On the spot side, we found thousands of trading pairs, maker/taker tiers that start at 0.10% for spot and go lower with volume or BNB payment, plus the usual VIP ladder.
Our test for Binance review went through the standard “Spot” wallet path, and the core engine exposed all the order types we expect at this level: Market, Limit, Stop-Limit, Trailing Stop and OCO. That means you can, for example, place a limit buy on BTC at $25,000 and in the same OCO ticket set a protective stop-limit at $24,000 – exactly the kind of wrapped action an experienced spot trader wants.
We also saw Binance pushing Spot Copy Trading: the idea is that the exchange tracks the performance of signal providers, you pick one, allocate funds, and the system mirrors their spot orders automatically. For users who don’t want to design strategies from scratch, this is a way to get semi-automated exposure while still staying on the spot desk.
For power users, the toolkit is much wider: full L2 depth, grid bots where available, REST/WebSocket/FIX APIs, and the ability to switch between a lighter view and the full pro terminal. The API streams real-time market data and orderbook updates, so automated systems can schedule TWAP-style tickets, watch latency, and route between the main quote markets.
Because spot, margin, futures, P2P and staking all sit in one ecosystem, funds move from the Spot Wallet to the other desks without leaving the platform – handy if you buy a spot and then immediately want to hedge in futures or park idle assets in staking.
Pros and Cons of Using Binance
When you dig into the numbers, Binance’s fee structure becomes a major strength for spot traders. Is Binance trustworthy?
Strengths:
- Top global spot liquidity on BTC, ETH and USDT pairs; orders fill instantly at retail size.
- Very low standard maker/taker (0.1%/0.1%) and frequent 0%/rebate campaigns → 5/5 on costs.
- Huge market coverage: 500+ assets and frequent listings/delistings.
- Full pro toolset: advanced orders, L2/depth, TradingView-style charting, public REST/WebSocket, copy and bot hooks.
- Transparent PoR page and recurring reserve snapshots; SAFU described and wallets shown publicly.
Weaknesses:
- Fiat ramps and limits still vary strongly by jurisdiction – it’s not as uniform as on a single-country, single-license U.S. exchange.
- PoR is recurring and Merkle-based but still self-published; not all regulators count that as a full audit.
Our Verdict
Binance remains one of the heavyweight spot venues in 2025. The combination of very high daily volume, a 901 liquidity score, 500+ listed assets and a fee system that actually rewards activity makes it an elite choice for active spot traders. If you’re a newcomer, trading small, or in a more tightly regulated region, you should still check local availability and your fee tier – but for pure spot-market quality, what we saw in the Binance review test is hard to beat.
Trustworthiness Check
Here are legal cases, regulatory actions, and compliance news that we found.
Nov. 21 2023: U.S. Department of Justice announced that Binance and its CEO pleaded guilty and agreed to a $4B+ resolution for AML, sanctions and unlicensed-MSB violations. This is the base document on which all later compliance upgrades rest.
Nov. 21 2023: CFTC published its own consent order requiring Binance to disgorge $1.35B and pay a $1.35B civil penalty, plus $150M from Changpeng “CZ” Zhao.
2024: Changpeng Zhao was sentenced to four months in federal prison, confirming personal liability but not shutting down the exchange.
2024–2025: ESMA and several EU voices keep flagging market-concentration risk because Binance processes ~40% of global spot volume.
Oct. 21 2025: The U.S. Department of Justice’s Office of the Pardon Attorney published an updated “Clemency Grants by President Donald J. Trump (2025–present)” list showing that Changpeng Zhao received a full presidential pardon for his 2023 Bank Secrecy Act / AML conviction.
GNcrypto’s Overall Binance Rating
| Criteria | Rating (out of 5) |
|---|---|
| Liquidity & Volume | 5 |
| Fees & Total Cost to Trade | 5 |
| Asset Selection & Trading Pairs | 5 |
| Execution Quality / Market Quality | 4 |
| Tools & Order Controls | 5 |
| Fiat Access & Minimum Trade Size | 4 |
| Reliability & Transparency | 4 |
Methodology – Why You Should Trust Us
We use a weighted, category-based model, collect standardized data from each platform (public pages + hands-on testing), and convert that into a 1.0–5.0 star score in 0.1 increments.
How We Collect Data
- Public data: fee pages, PoR hub, status/announcement pages, official regulatory documents (DOJ, CFTC).
- First-hand testing: $200 spot trade to check spread, slippage, and order-entry UX.
We do not rate solvency or make any guarantees about financial stability. Our ratings reflect user experience rather than solvency.
Categories & Weights
- Liquidity & Volume – 25%
- Fees & Total Cost to Trade – 25%
- Asset Selection & Trading Pairs – 15%
- Execution Quality (Market Quality) – 10%
- Tools & Order Controls – 10%
- Fiat Access & Minimum Trade Size – 5%
- Reliability & Transparency – 10%
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