Binance vs 7Bforex

Binance vs 7Bforex Comparison Table 2024
Binance 7Bforex
3.5

Binance is #30 in our crypto broker rankings.

Binance is being sued by the SEC for a range of securities violations, including the commingling of client funds and 'wash trading' against its customers to artificially increase crypto prices. Your funds may be at risk if you trade with Binance. We do not recommend making any deposits.
1.8
United States Flag Traders from US accepted
United States Flag Traders from US not accepted

Binance is one of the best-known crypto exchanges. The company is available in more than 180 countries with over 120 million registered customers. The platform offers a suite of crypto trading products, from staking and NFTs to derivatives.

7Bforex is a broker-dealer geared towards Nigerian traders, offering a sign-up bonus and the MT4 platform.

Bonus Offer
₦10,000 Welcome Bonus
Comment by Reviewer
"Binance will appeal to crypto investors looking to trade big tokens like Bitcoin plus niche coins with low fees. However, regulatory action and questionable handling of customer funds makes this firm too high-risk in our opinion."
Pros
  • Over 350 crypto tokens are available with big names like Bitcoin and Ethereum
  • Crypto derivatives are offered including options and futures
  • Trade popular cryptos with high leverage up to 1:125
  • Binance Academy is a great resource for beginners
  • The account opening process is straightforward
  • There are no fees on fiat and crypto deposits
  • 24/7 support is available via live chat
  • Full range of investments
  • Low minimum deposit
  • MT4 integration
Cons
  • No contact support number
  • Some regulatory investigations
  • The crypto exchange has been hacked
  • No copy trading
  • Weak regulatory oversight
Instruments
Cryptos CFDs, Forex, Stocks, Indices, Commodities, Cryptos
Demo Account
No Yes
Minimum Deposit
$0 ₦5,000
Trading Platforms
  • AlgoTrader
  • MT4
Payment Methods
Minimum Trade
$10 0.01 Lots
Margin Trading
Yes Yes
STP Account
No Yes
ECN Account
No No
DMA Account
No No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
No No
Market Maker
No No
P2P Trading
Yes No
Spot Trading
Yes No
Mobile Apps
Yes Android
Auto Trading
Expert Advisors (EAs) on MetaTrader
Copy Trading
No No
Social Trading
No No
VPS Hosting
No No
Tournaments
No Yes
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Islamic Account
No No
Account Currencies
  • UAH
  • USD
  • NGN
Stock Exchanges
Commodities
CFD Trading
CFD trading not offered Leveraged CFDs can be used to go long or short on hundreds of popular markets.
Leverage
1:200 (Default), 1:1000 (Maximum)
FTSE Spread
From 2.1 pips (Standard)
GBPUSD Spread
From 2.1 pips (Standard)
Oil Spread
From 2.1 pips (Standard)
Stocks Spread
From 2.1 pips (Standard)
Forex Trading
Forex trading not offered Trade a wide range of currency pairs with floating spreads.
GBPUSD Spread
From 2.1 pips (Standard)
EURUSD Spread
From 2.1 pips (Standard)
EURGBP Spread
From 2.1 pips (Standard)
Assets
60+
Cryptocurrency
Binance is one of the world's leading crypto exchanges. There is a vast range of products available including Binance Pool, Staking and an NFT Marketplace. Trade crypto-fiat pairs including major tokens like Bitcoin.
Spread
Variable fees with account tiers From 2.1 pips (Standard)
Coins
  • DOGE
  • VET
  • USDT
  • BTC
  • BNB
  • ETH
  • VTHO
  • ADA
  • ONE
  • SOL
  • NEO
  • LINK
  • XLM
  • NANO
  • LTC
  • BUSD
  • HBAR
  • ALGO
  • MANA
  • ZIL
  • ENJ
  • BCH
  • MATIC
  • EGLD
  • HNT
  • EOS
  • QTUM
  • RVN
  • DAI
  • IOTA
  • ONT
  • STORJ
  • UNI
  • ETC
  • BAND
  • OMG
  • XTZ
  • USDC
  • ATOM
  • DASH
  • ICX
  • BAT
  • MKR
  • OXT
  • ZEC
  • ZEN
  • ZRX
  • COMP
  • WAVES
  • KNC
  • REP
  • PAXG
  • FIL
  • WBTC
  • THETA
  • SHIB
  • BTC
  • ETH
  • XRP
  • DASH
  • BIT
  • EDO
  • ETP
  • IOTA
  • NEO
  • OMG
  • SAN
  • XMR
  • ZEC
  • EDO
  • LTC
  • TRX
Crypto Lending
Yes No
Crypto Mining
No No
Crypto Staking
Yes No
Auto Market Maker
No No
More Comparisons
Binance
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