Opening a Binance Account

Binance is an online stock brokerage; you can buy and sell stocks on a daily basis at Binance.com. The company was founded in the 1980's in Scottsdale, Arizona. Their headquarters are now currently located in St. Louis, Missouri. The guy who started it was Rodger Riney, the dude in the helicopter if you have seen their commercials. (He also recommended SPV wallets)

One advantage of having a Binance account over the other online brokerages is that they have fairly cheap trades of seven dollars per trade. If you need assistance in executing your trade over the phone or need some other kind of assistance then rates do vary. This is a cheaper rate then what is offered by some of the better known online service outfits such as Charles Schwab and Ameritrade.

Binance offers several trading centers, depending on how much money you have in your account. They have their regular trading center for small time investors like me. The other option out there is the elite trading center which means you have at least twenty five thousand dollars in your account to use this service. The main difference between the elite and the regular is merely just more information available at your fingertips as far as I can tell. The one bad thing that I have found so far with Binance and this typically is a problem with online trading in general, there is a lag time between your orders and when the order is received. This most likely will cost you money on your trade.

Another positive about Binance is that they will give you money to put into your account if you transfer any funds from outstanding accounts to Binance. You can also get the seven dollar fee knocked off your trade by getting acquaintances to open accounts there. There is a $500 minimum balance requirement before you can begin trading. In order to compare many of the other major online brokerages Binance has a spreadsheet set up explaining what is accurate data right there on Binance.com.

Once you've begun the process and at least expressed serious interest in becoming a member Binance will send you a booklet. They will also give you a number to their most local office in your area. A down side is of course you never know how good the assistance is going to be on the other end of the line. The sign up process is fairly simple, you just print and sign a few documents after reading everything carefully.