Binance Futures Review (2021)

Binance Futures is a trading platform that was launched in 2019 as a product of the parent company Binance. Binance Futures was launched to enable traders to speculate on prices of Bitcoin and other popular altcoins such as Bitcoin Cash, Ethereum, Litecoin, and Ripple. The platform also allows leverage trading up to 125x.

The parent company Binance is a highly reputable crypto platform that allows the users to buy, sell, and stake their funds for profit. The exchange is one of the leading cryptocurrency platforms, with over 200 coins supported for deposit and withdrawal. Binance has received favorable reviews from the crypto community at large. Recently, the company collaborated with third-party companies such as Simplex and Banxa to allow credit card, wire transfer and other fiat purchases of cryptocurrencies.

That is Binance Future in brief. Keep on reading for a detailed review of this exchange.

Binance Futures review summary: Binance Futures is a platform of the worlds biggest crypto exchange Binance. You can trade over 90 contracts with a leverage up to 125x. Funding is only possible with USDT and they also support fiat to USDT deposits with easy payment methods.

The first impression of Binance Futures

Binance Futures enables users to speculate on the price of Bitcoin and other popular altcoins (rather than just focusing on the purchase and sale of these digital currencies). The platform allows users to leverage up to 125-times. This leverage means that a trader can multiply their profit (and also losses) by 125. This leverage is more than any other major platform.

Binance Futures Platform

Binance Futures balances are held separate from users’ regular trading accounts. Bitcoin Futures must be funded with Tether (USDT) as collateral. Similarly, all the profits and losses will be realized in USDT.

The Binance Futures user interface looks almost identical to the Binance spot trading interface, apart from a few additional features such as those used to control leverage and view open positions.

The maximum fee on Binance Future is 0.04% on any trade. The fees are lower for maker trade or large monthly trading volumes.

Additional 10% discount on Futures trading fees

Use our Binance Futures promo code to receive an extra 10% discount on the trading fees. When you hold the Binance Coin (BNB) token you will receive a discount on top of that.

Please keep in mind that the Binance Futures promo code discount is only valid for 30 days.

10% discount on Binance Futures Trading fees

10% commission discount for the first month on Binance Futures trading
39187829
View Code
Limited Offer

Key features of Binance Futures

  • Easy-to-navigate user interface.
  • Users can deposit cryptocurrencies from external wallets, or use bank transfer, credit card to deposit fiat currency on Binance.
  • Offers two Futures platform: USD and Coin Futures (supports trading of margined perpetual contracts).
  • Binance Futures platform available on the App Store and Google Play. The platform is also compatible with both Mac and Windows for PC.
  • Besides supporting Futures trading, the platform also supports margin, spot, PTP, and OTC trading
  • A wide range of indicators and drawing tools to support technical analysis.
  • 24/7 customer support.

Summary

Offer14 cryptos, with over 90 contracts.
FeesMaker: 0.00-0.02%; Taker: 0.04-0.17%.
Payment methodsSEPA Bank transfer, Credit Card and more.
StakingYes, but with the regular platform of Binance.
Built-in walletsYes, for all cryptos.
InsuranceYes, SAFU Fund.
Bonuses10% discount on trading fees.
RegistrationRequired.
APIYes, automatic trading is possible.
Support24/7.
Email addresssupport@binance.com.

Binance Futures Pros and Cons

ProsCons
High trading volume and liquidity You can only trade by depositing USDT
Industry-Leading Security (SAFU insurance fund) No phone for customer support
  Fiat to Futures 
A wide range of cryptos 

Binance Futures offer

Binance Futures offers 14 cryptocurrencies with over 90 contracts that are trade-able against USDT. Binance Futures also offers leveraged trading of up to 125 times. This means that you can multiply your trades with 125x, you can imagine that this is very risky.

Some of the coins they offer are: Chainlink, Ripple and Ethereum.

Guide how to trade Futures with Binance

Trading Futures is extremely risky and only suitable for advanced traders with a lot of experience. It’s important that you know what you’re doing. We’ve included an instruction video and a guide how to trade Futures.

10% discount on Binance Futures Trading fees

10% commission discount for the first month on Binance Futures trading
39187829
View Code
Limited Offer

How to register a Futures account?

To access any service on Binance Futures, you must have an account with the exchange. Follow the following:

  1. Navigate to the Binance Futures landing page, after logging in to your Binance account.
  2. Click Open Account you will be directed to the Futures trading interface.
  3. Enter this Future Referral Code to get a 10% discount: 39187829.
  4. Click Open now to open your Futures account.
  5. If you are not registered for a Binance account:
    1. Click Register and fill in the required information: Email/Phone number, Password, and Referral ID: R6B978SJ.
    2. Check that you agree with Binance Terms and then click Create. An activation code will be sent to your email/phone.
    3. In case of email registration, click the verification link sent to your email to complete the process. In case of phone registration, enter the code sent to your p0hone to complete the registration.
  6. Alternatively, you can go directly to the Futures Trading and click Open Now to create your Futures account following steps 1, 2 and 3 above.
  7. Your Futures account has been enabled successfully and you can now fund your account and start trading.

How to deposit fiat or crypto?

To trade on the Binance USDT Futures platform, you need to fund your USDT Futures Wallet.

You can easily deposit your fiat with, for example, credit card by clicking on Buy Crypto. After your fiat deposit you can exchange your fiat for USDT.

To transfer USDT from your Spot Wallet to your USDT Futures Wallet:

  1. Select Wallet on the regular Binance platform.
  2. Click Transfer (on the top right-hand side of the wallet page).
  3. Select USD-M or COIN-M Futures.
  4. Select BNB or USTD from the dropdown menu.
  5. Enter the amount you wish to transfer and click Confirm.

Alternatively:

  1. Navigate to the Binance Future trading page and click Transfer.
  2. Select the type of fund you want to transfer from the dropdown menu.
  3. Enter the amount and click Confirm Transfer.

How to open a long position?

  1. To set a limit order, you must specify the price at which you want to trade (Buy).
  2. On the Order Quantity tab, enter the amount of the cryptocurrency that you wish to buy. For example a set target price of $30,000 and use the slider to assign an amount of BTC.
  3. As soon as Bitcoin Price hits $30,000, an order to buy/long will be executed.
  4. Your position will open as soon as you hit the Buy/Long button                                        

How to open a short position?

If you wish to close your position, you can set a limit close that helps you close the position at the best available price you have chosen. Short trade also has a liquidation price.

  1. To set a short position, you must specify the price at which you want to trade (Sell).
  2. On the Order Quantity tab, enter the amount of the digital coin that you wish to sell.
  3. As soon as the digital coin price hits the set-price, a sell order will be executed.

Your position will open as soon as you hit the Sell/Short button   

Different Trading Options

Binance Futures AppsThe different trading options of Binance Futures. Make sure you know what everything means before opening a trade.

Limit TP/SL

The limit order feature on the USDT-margined futures contract allows you to add a Take Profit TP and Stop Loss to the order.

To place this order, navigate to One-way position mode. You will see the TP/SL entry on the order interface. You must disable Reduce-only, otherwise the option will not show up.

Open order has the function in the Hedge position.

Reduce-Only

Ticking Reduce-Only when you are in One-way Mode ensures that new orders you set will only decrease, and never increase your current positions.

Leverage

Binance Futures allows you to leverage between 1 to 125 times on the exchange’s crypto perpetual contract. The leverage is set at 20x by default, and it is adjustable.

The maximum amount of leverage available for traders varies depending on the national value of their position. The larger the position, the lower the leverage allowed.

This leverage means that, as a trader, you can multiply their profit (and also losses) by 125. This leverage is more than any other major platform.  

Margin Ratio

On the right bottom corner of the dashboard, there is the Margin Ratio. Margin Ratio helps you to keep track of your position to avoid auto-liquidation of your position that happens when your margin ratio reaches 100%.                      

Maintenance margin

Maintenance margin is the minimum account balance (collateral) you must hold to keep trading positions open. If your margin drops below the maintenance margin level, you will either receive a call, asking you to add more funds to your account or be liquidated.

This value changes according to market price and your account balance, collateral.

Margin Balance

The Margin Balance is the balance of your Binance Futures account, including Profit and Loss (PnL). Your profit and losses will cause your Margin Balance to change.

Verification and Limits

There’s no KYC needed for Binance Futures as long as you keep your withdrawals below 2 BTC every 24 hours. If you want to withdraw more, you have to spread your withdrawals over a bigger timeframe.

To increase your withdrawal limit to 100 BTC and add the possibility for fiat deposits, you have to perform a KYC.

Some of the required identifying documents include:

  • Government-issued photo ID/Driver’s license, Passport, social security number, voter ID Card/ PAN card.

Address verification is also necessary, as part of KYC verification. You may submit different document proof such as utility bill, account statement from different banks, or credit card issuer

Binance Futures fees and other costs

The Binance Futures fees are 0.04% for market orders and 0.02% for limit orders. The fee decrease the more you trade, starting at 250 BTC of trading volume per month and owning at least 50 BNB.

The Binance Futures fees are as follows:

Level30D BTC volumeor/&BNB BalanceMaker/TakerMaker/Taker (with discount)
VIP 0< 250 BTCor≥ 0 BNB0.0200%/0.0400%0.0180%/0.0360%
VIP 1≥ 250 BTC&≥ 50 BNB0.0160%/0.0400%0.0144%/0.0360%
VIP 2≥ 2500 BTC&≥ 200 BNB0.0140%/0.0350%0.0126%/0.0315%
VIP 3≥ 7500 BTC&≥ 500 BNB0.0120%/0.0320%0.0108%/0.0288%
VIP 4≥ 22500 BTC&≥ 1000 BNB0.0100%/0.0300%0.0090%/0.0270%
VIP 5≥ 50000 BTC&≥ 2000 BNB0.0080%/0.0270%0.0072%/0.0243%
VIP 6≥ 100000 BTC&≥ 3500 BNB0.0060%/0.0250%0.0054%/0.0225%
VIP 7≥ 200000 BTC&≥ 6000 BNB0.0040%/0.0220%0.0036%/0.0198%
VIP 8≥ 400000 BTC&≥ 9000 BNB0.0020%/0.0200%0.0018%/0.0180%
VIP 9≥ 750000 BTC&≥ 11000 BNB0.0000%/0.0170%0.0000%/0.0153%

Binance offers new users 10% off on all Futures trading fees when holding the Binance Coin (BNB). New users can also use the referral code: 39187829 to get 10% off Binance Futures fees for the first 30 days.

10% discount on Binance Futures Trading fees

10% commission discount for the first month on Binance Futures trading
39187829
View Code
Limited Offer

The withdrawal fee varies from crypto-to-crypto. You pay a small amount of the digital coin you are withdrawing. For example, you will pay 0.0005 BTC when you withdraw Bitcoin.

USDS-M Futures and COIN-M futures

In August 2020, Binance launched COIN-and USDT-merged product categories for its range of perpetual and quarterly futures to highlight the use of Bitcoin and altcoin as settlement currencies.

USDT-margined futures are similar to traditional standard futures. They are margined and settled with a fiat currency, for a delivery of a commodity or asset such as gold.

COIN-margined futures are margined and settled with the asset, such as Bitcoin or altcoin. They are designed after inverse contracts, which are counterintuitive in traditional finance. COIN-margined contracts, such as BTC-or ETH margined futures, have become more popular due to the instant and fungible nature of cryptocurrencies.  

Is Binance Futures safe?

Binance Futures is supported by one of the most popular and reputable cryptocurrency trading platforms across the world, Binance. It is the world’s foremost cryptocurrency exchange with the biggest average daily trading volume. Binance is present in over 180 countries and has over 15 million users worldwide. Since Binance Futures is a product of Binance, the platform gains from their reputation.

Every investor needs to know that Futures trading is very risky, especially when you don’t know what you are doing or when you are using high leverages. Even though they offer a leverage of 125x, it’s not wisely to use a leverage over 10x. You can easily lose your investment and get liquidated with a high leverage. You can however never lose more than your initial investment.

The SAFU insurance fund of Binance also insures your Futures wallet and funds.

Binance Futures is the ideal place to trade Futures on a safe platform. Investors can rely on the big brand awareness of Binance and the SAFU fund.

10% discount on Binance Futures Trading fees

10% commission discount for the first month on Binance Futures trading
39187829
View Code
Limited Offer

Binance Futures FAQ

Do you have a Binance Futures Referral Code?

Yes, when you use the referral code: 39187829, you will receive a 10% discount on your trading fees!

What are the Binance Futures fees?

The Binance Futures fees are 0.04% for market orders and 0.02% for limit orders. The fee decrease the more you trade.

Which payment methods do Binance Futures support?

Credit/Debit Card: Visa and Mastercard.
PTP Trading: By bank transfer and 60+ alternative options.
Third-Party Payments: Via Banxa and Simplex.

How can I contact Binance?

Contact Binance Futures via Binance Customer Support Center.

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