Binance fees and review
The largest exchange by volume, with the deepest order books and the most restrictions.
Referral code
Registering through this link applies the code automatically. Confirm it appears on the registration form before submitting.
Restricted countries
Binance trading fees
Standard-tier rates. What a newly created account pays before any volume or token discounts.
| Specifications | Maker | Taker | With the referral code applied |
|---|---|---|---|
| Spot | 0.10% | 0.10% | 0.08% / 0.08% |
| Futures | 0.02% | 0.05% | 0.016% / 0.04% |
Rates change. Confirm on the official fee schedule before funding an account. Terms verified Aug 14, 2026
Binance advertises up to 50% commission to affiliates, paid Daily. The discount above is the portion passed on to you.
Review
Binance is the default reference point for crypto trading, and for most pairs it has the deepest liquidity available. That matters more than the fee schedule for anyone trading size: on a thin book, the slippage on a single market order can exceed a year of fee differences. If you are trading anything outside the top twenty assets, the spread you get on Binance is usually the tightest you will find.
The standard spot fee is 0.10% for both maker and taker, which is unremarkable. Several competitors are cheaper on paper. The futures schedule is where it gets competitive, at 0.02% maker and 0.05% taker, and that is the number that matters since perpetual futures are where the volume and the referral commissions actually live.
Two discounts stack on top of the standard rate. Paying fees in BNB, the exchange's own token, takes a further cut off the top, and a referral code applies a standing discount on every trade. Both are independent of your VIP tier, so a new account with a code and a BNB balance pays meaningfully less than the headline rate suggests.
The catch with Binance is jurisdictional, and it is a real one. The global platform does not accept registrations from the United States, and it has withdrawn from or restricted several other markets under regulatory pressure. The restriction list on this page reflects the ones we could confirm at the last review, but it moves. Binance.US is a separate company with a separate order book, far less liquidity, and a different fee schedule; a referral code for one does not work on the other.
The interface is the other common complaint. Binance exposes spot, margin, futures, options, earn products, launchpads and a dozen other surfaces from the same account, and new users routinely lose money by placing a leveraged order when they meant to buy spot. If you are opening your first exchange account, that density is a genuine risk factor and not merely an aesthetic one.
What it does well
- Deepest order books in the industry on nearly every major pair, which usually costs you less in slippage than any fee difference saves
- Competitive futures fees at 0.02% maker and 0.05% taker before any discount
- Referral and BNB fee discounts stack, and neither depends on reaching a VIP tier
- Widest fiat on-ramp coverage of any exchange here, including TRY, BRL and ARS
- Deep documentation and a mature API that most trading tools support first
Where it falls short
- Not open to US residents, and the restricted-country list has grown over time
- Spot fees of 0.10% are beaten by several competitors on this page
- The interface exposes leveraged products alongside spot, which is a real hazard for new traders
- Support response times are widely reported as slow relative to smaller venues
How to register with the Binance code
Open the registration page through the referral link
The code has to be attached at the moment the account is created. Binance will not apply one retroactively, and support cannot attach it later, this is the single step that people get wrong.
Confirm the code appears on the form
Before submitting, check that the referral field on the registration page shows the code. If it is blank, the link did not carry it through. Usually because a browser extension stripped the parameter. Enter it manually before continuing.
Complete identity verification
Binance requires KYC before withdrawals and before most trading functions. Have a government photo ID ready. Verification usually completes within an hour but can take longer during high-volume periods.
Enable two-factor authentication before depositing
Set up an authenticator app rather than SMS. SIM-swap attacks are the most common way retail exchange accounts are drained, and SMS-based 2FA does not protect against them.
Binance at a glance
- Founded
- 2017
- Headquarters
- Global / no declared HQ
- Listed assets
- 400+
- Max leverage
- 125x
- KYC
- Required
- Fiat currencies
- USD, EUR, TRY, BRL, ARS
- Korean interface
- Yes
- Restricted countries
- United States, Canada, Netherlands, Singapore, Japan, United Kingdom
Binance FAQ
- Does the referral discount stack with the BNB fee discount?
- Yes. They are applied independently. The referral discount reduces the fee rate, and paying in BNB takes a further percentage off the resulting amount. Both apply regardless of your VIP tier.
- What are Binance futures fees?
- The standard tier is 0.02% for maker orders and 0.05% for taker orders on USD-margined perpetual futures. VIP tiers reduce this further based on 30-day volume and BNB holdings, and a referral discount applies on top.