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Add to SafariWhen comparing SaxoTrader vs Binance, the Slant community recommends SaxoTrader for most people. In the question“What are the best trading platforms?” SaxoTrader is ranked 4th while Binance is ranked 5th. The most important reason people chose SaxoTrader is:
There is a big variety of chart types - line, area, Heikin-Ashi, and others. There are different indicators available, like trading volume, moving averages, Fibbonaci retracement, and so on.
Question Ranking
Pros
Pro Lots of tools for technical analysis
There is a big variety of chart types - line, area, Heikin-Ashi, and others. There are different indicators available, like trading volume, moving averages, Fibbonaci retracement, and so on.
Pro Big variety of instruments available
The instruments you can trade vary from stocks, forex, CFDs, ETFs, futures, and options.
Pro Mobile and Web versions available
Besides the Desktop application, there is a Web version and mobiles app. Although it has to be noted, that they don't include all the features of the platform.
Pro Lots of free learning resources
Free video tutorials are made by Saxo Bank that help to start using the platform. They cover everything from setting up your workspace to creating orders.
Pro Integrated news screen
You can view the latest news regarding your investments right in the platform. They are aggregated from different sources to provide a more objective perspective.
Pro Comparatively safe base coin
You can easily transfer in almost any current coin, no matter how volatile, and transfer it to the relatively stable BNB token.
Pro Protection
Binance has many unique proprietary methods for combating fraud. Including protecting users from bad coins. While rare, problem coins are delisted extremely quickly.
Pro Every major coin
And most minor ones. Excluding fraud and bankruptcy, it’s easy to get listed and very difficult to get delisted.
Pro Comparatively save base coin
You can easily transfer in almost any current coin, no matter how volatile, and transfer it to the relatively stable BNB token.
Cons
Con Support team can seem irritating
Saxo Bank's team is known to call from time to time to inquire about your experience with the platform. Although there's nothing intrinsically bad with that, it can become annoying really fast.
Con High initial deposit is required
To start trading with Saxo Bank's platform, you need to deposit at least $10,000 into your account.
Con Overwhelming and confusing
The extreme volume of both trading options and supported currencies, combined with poor help, makes it overwhelming for beginners.
Con BYOC (Bring your own coins)
Binace does not have a fiat to currency system. The only way to trade on binance is to buy their private currency, or deposit crypto from other wallets/exchanges at a fee.
Con No buy in
Binance does NOT offer direct fiat to crypto transactions. You can only buy into the binance currency, which you then trade for other coins.
