Binance vs Cobra Trading

Binance vs Cobra Trading Comparison Table 2024
Binance Cobra Trading
3.5
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.
3.3

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.

Established in 2003, Cobra Trading is a US-based brokerage specializing in equities and options contracts. The firm offers 3 powerful platforms and is aimed at professional clients or those looking for retirement accounts. Cobra Trading is regulated by the NFA and SIPC and is a member of FINRA.

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." "After exploring this popular US brokerage, I think experienced stock traders who can deposit at least $30,000 to open an account with appreciate the broker’s low trading fees of $0.0015 per share."
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
  • I’m happy with the broker’s regulatory status in the US, with oversight from reputable bodies including the SIPC, NFA and FINRA. This, coupled, with the broker’s strong reputation since 2003 is a great sign of a trustworthy firm
  • I think the choice of 3 platforms means all strategies and trading styles are catered to. All platforms offer comprehensive charting packages, with sophisticated analysis tools and advanced order types
  • I found some reasonably low fees at Cobra Trading, including shares from $0.0015, options from $0.30 and margin rates as low as 8%
  • Cobra Trading offers a good range of account types, including traditional and Roth IRA’s, plus joint, corporate and trust accounts
  • I like that Cobra Trading doesn’t enforce any minimums on trades and there are also no locate fees
Cons
  • No contact support number
  • Some regulatory investigations
  • The crypto exchange has been hacked
  • Despite the low trading fees, this broker does charge several other platform and admin fees which will soon add up, including monthly software fees from $100 and market data packages from $18 per month
  • Unfortunately, Cobra Trading isn’t going to be suitable for novices, as the minimum deposit to open an account is $30,000. I think it’s a shame that there are no beginner-friendly accounts at this broker
  • I did find that pattern day trading (PDT) restrictions will apply, though this is expected from a US brokerage
Instruments
Cryptos Stocks, options
Demo Account
No Yes
Minimum Deposit
$0
Trading Platforms
  • AlgoTrader
  • Own
Payment Methods
Minimum Trade
$10 $1
Regulator
FINRA
Margin Trading
Yes No
Margin Rate
8%
STP Account
No No
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 Yes
Auto Trading
Yes
Copy Trading
No No
Social Trading
No No
Trade Signals
Yes
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Islamic Account
No No
Account Currencies
  • UAH
Cryptocurrency
Binance is one of the world's largest crypto exchanges. There is a vast range of products available including Binance Pool, Staking and an NFT Marketplace. Crypto trading not offered
Spread
Variable fees with account tiers
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
Crypto Lending
Yes No
Crypto Mining
No No
Crypto Staking
Yes No
Auto Market Maker
No No
More Comparisons
Binance
vs
Cobra Trading
vs