Choosing the best forex broker in the world is crucial for traders looking to maximize profits and reduce risks. Many traders consider Binance as a top platform, but is it really the best option for forex trading? In this article, we will compare Binance with top forex brokers like Exness, XM, and FXPro to determine the best choice for your trading needs.
It is one of the largest cryptocurrency exchanges in the world, offering spot trading, futures trading, and various financial services. While it is dominant in the crypto space, its forex trading capabilities are limited compared to established forex brokers like Exness, XM, and FXPro.
Supports over 500 cryptocurrencies.
Offers futures and margin trading.
High liquidity and trading volume.
Limited forex trading pairs.
While Binance is an excellent platform for crypto traders, its forex trading services do not match the features of traditional forex brokers. Let’s compare Binance with some of the best forex brokers in the world to see where it stands.
| Broker | Forex Pairs | Crypto Trading | Other Assets |
|---|---|---|---|
| Binance | Limited | 500+ Cryptos | Futures, Stocks (Limited) |
| Exness | 120+ | Yes | Commodities, Indices, Stocks |
| XM | 55+ | No | Commodities, Stocks, Metals |
| FXPro | 70+ | No | Futures, Commodities, Stocks |
Verdict: Binance is excellent for crypto but lacks a wide range of forex pairs compared to Exness, XM, and FXPro, which specialize in forex trading.
| Broker | MetaTrader 4/5 | Proprietary Platform | Mobile App |
| Binance | No | Yes | Yes |
| Exness | Yes | No | Yes |
| XM | Yes | No | Yes |
| FXPro | Yes | Yes | Yes |
Verdict: Exness, XM, and FXPro support MetaTrader 4 and 5 (MT4 & MT5), the industry-standard platforms for forex trading. Binance lacks MT4/MT5, making it less suitable for serious forex traders.
| Broker | Average Spread (EUR/USD) | Commission | Swap-Free Accounts |
| Binance | Varies | 0.1% Trading Fee | No |
| Exness | 0.0 – 1.0 Pips | Low | Yes |
| XM | 0.6 – 1.8 Pips | Low | Yes |
| FXPro | 0.5 – 1.2 Pips | Medium | Yes |
Verdict: Binance charges a fixed trading fee instead of spreads, which is not ideal for forex traders. Exness, XM, and FXPro offer tighter spreads and swap-free accounts, making them better choices.
| Broker | Maximum Leverage |
| Binance | Up to 1:20 |
| Exness | Up to 1:2000 |
| XM | Up to 1:888 |
| FXPro | Up to 1:500 |
Verdict: Exness offers the highest leverage, followed by XM and FXPro. Binance’s leverage is much lower, limiting trade sizes for forex traders.
| Broker | Regulation |
| Binance | Unregulated in Some Countries |
| Exness | Regulated by FCA, CySEC, FSCA |
| XM | Regulated by ASIC, CySEC, IFSC |
| FXPro | Regulated by FCA, CySEC, FSCA |
Verdict: It has faced regulatory issues in multiple countries, while Exness, XM, and FXPro are well-regulated, making them safer for forex trading.
| Broker | Deposit Options | Withdrawal Speed |
| Binance | Crypto, Bank Transfer | 24-48 Hours |
| Exness | Bank, E-Wallet, Crypto | Instant – 24 Hours |
| XM | Bank, E-Wallet | 24 Hours |
| FXPro | Bank, Credit Card, E-Wallet | 24 Hours |
Verdict: Exness provides instant withdrawals, making it the most convenient choice.
| Broker | Support Channels |
| Binance | Live Chat, Email |
| Exness | 24/7 Live Chat, Phone, Email |
| XM | 24/5 Live Chat, Phone, Email |
| FXPro | 24/5 Live Chat, Phone, Email |
Verdict: Exness offers 24/7 customer support, which is essential for global forex traders.
While it is a leading crypto trading platform, it does not match the services offered by top forex brokers like Exness, XM, and FXPro. If you are focused on forex trading, a specialized forex broker will provide:
More forex pairs
Better trading platforms (MT4/MT5)
Lower spreads and commissions
Higher leverage options
Stronger regulatory protection
Best for High Leverage: Exness (Up to 1:2000)
Best for Beginners: XM (User-friendly with low deposit requirements)
Best for Advanced Traders: FXPro (Advanced trading technology)
If your primary focus is forex, This is not the best forex broker in the world. Instead, choose a broker like Exness, XM, or FXPro for better forex trading conditions.
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