Binance Singapore Trading Fee Calculator
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Compare Binance with other Singapore exchanges for your trade amount
Fee Comparison
Binance (0.1% fee)
SGD 0.00
Gemini (1.49% fee)
SGD 0.00
Luno (0.5%-1% fee)
SGD 0.00
Coinhako (0.8%-2% fee)
SGD 0.00
You save with Binance:
SGD 0.00
Important Note: While Binance offers the lowest trading fees, it is not licensed by MAS in Singapore. This means you don't have the same regulatory protections as users of licensed exchanges like Gemini, Luno, or Coinhako. Use Binance only for amounts you're comfortable risking and understand the potential legal implications.
Is Binance Safe and Legal to Use in Singapore Right Now?
If you're in Singapore and thinking about using Binance, you need to know one thing upfront: Binance is not licensed by the Monetary Authority of Singapore (MAS). That’s not a rumor. It’s a fact. While Binance serves over 255 million users worldwide and handles more than $76 billion in daily trades, it operates in Singapore as a global platform - not as a locally regulated entity. This creates a legal gray zone. You can sign up, deposit money, and trade coins without issue. But if something goes wrong - a hack, a freeze, a customer service blackout - you won’t have the same protections as someone using a MAS-licensed exchange like Gemini or Luno.
Singapore’s crypto rules are strict. Any company offering digital payment token services must get a license from MAS. Companies like Gemini, Coinhako, and Luno did. They had to prove their security systems, anti-money laundering controls, and financial stability. Binance didn’t. And that’s the biggest risk you take when you use it here.
What You Can Trade on Binance Singapore
Where Binance wins hard is selection. You get access to over 500 cryptocurrencies and more than 1,300 trading pairs. That’s more than most exchanges offer globally. Want to trade Solana, Dogecoin, or some obscure DeFi token? It’s there. Need to swap between BTC, ETH, and BNB? Done. The variety is unmatched.
Spot trading fees start at 0.1% - and drop further if you use BNB to pay. Compare that to Gemini, which charges 1.49% for SGD trades, or Coinhako, which charges up to 2%. Binance’s fees are among the lowest in the industry. Even for high-volume traders, the cost savings add up fast.
Derivatives trading is another big draw. You can trade futures with up to 150x leverage. That’s not for beginners. One wrong move and you can lose your entire position - or more. But for experienced traders, that kind of leverage means bigger opportunities. Binance’s deep liquidity means orders fill quickly, even on large trades. Slippage is minimal. That’s why pros still use it, even with the regulatory risks.
How to Deposit and Withdraw in Singapore Dollars (SGD)
Here’s where things get messy. Binance claims to support 30+ fiat currencies, including SGD. But there’s no direct bank transfer option from Singaporean banks. No PayNow. No FAST. You can’t deposit SGD directly into your Binance account like you can with Luno or Gemini.
Instead, you have two main options:
- Use Binance P2P - trade directly with other users using bank transfers, GrabPay, or PayNow. Rates vary by seller, and you’re exposed to counterparty risk. Some sellers charge premiums. Others scam. You have to be careful.
- Buy crypto on another exchange with SGD support, then send it to your Binance wallet. This adds steps and fees. But it’s safer than P2P.
Withdrawals are easier. You can pull out crypto anytime. But if you want to cash out to SGD, you’ll need to send your crypto to a MAS-licensed exchange first, then sell it there. That means paying fees twice. It’s inconvenient. And it defeats the purpose of using Binance for low-cost trading.
Security: Is Your Money Actually Safe?
Binance says it uses cold storage, multi-sig wallets, and an insurance fund. It’s true - they’ve improved since the 2022 market crash. But they’ve also had major security incidents in the past. In 2019, hackers stole 7,000 BTC. In 2022, they froze withdrawals after a liquidity crunch. These aren’t small glitches. They’re systemic risks.
Without MAS oversight, there’s no guarantee your funds are protected if Binance fails. In Singapore, licensed exchanges must keep client funds separate from company funds. Binance doesn’t have that legal requirement here. If the company runs into trouble - regulatory crackdown, bankruptcy, insider fraud - your crypto could be at risk.
Also, Binance’s customer support is slow. Global users report wait times of 24-72 hours for ticket responses. In emergencies - like a hacked account or failed withdrawal - that delay can cost you thousands.
App and Interface: Great for Pros, Tough for Beginners
The Binance app is powerful. Real-time charts, custom alerts, portfolio tracking, and push notifications for price changes - it’s all there. The web platform has advanced order types: limit, stop-limit, trailing stop, OCO. If you know what you’re doing, it’s a dream.
But if you’re new to crypto? It’s overwhelming. The interface is cluttered. There are tabs for Earn, Launchpool, NFTs, Futures, Margin, and more. Most beginners don’t know where to start. You’ll need to spend hours watching YouTube tutorials just to buy your first Bitcoin.
Compare that to Luno or Coinhako. Their apps are clean, simple, and designed for first-time users. Binance doesn’t care about beginners. It targets active traders. That’s fine - if you’re one of them.
Binance vs. Other Exchanges in Singapore
Here’s how Binance stacks up against local competitors:
| Feature | Binance | Gemini | Luno | Coinhako |
|---|---|---|---|---|
| MAS Licensed | No | Yes | Yes | Yes |
| Supported Cryptocurrencies | 500+ | 70+ | 20+ | 50+ |
| Spot Trading Fee (SGD) | 0.1% (lower with BNB) | 1.49% | 0.5%-1% | 0.8%-2% |
| SGD Deposit Method | P2P only | Bank transfer, PayNow | Bank transfer, PayNow | Bank transfer, PayNow |
| Leverage (Futures) | Up to 150x | 10x | Not available | Not available |
| App Usability (Beginners) | Difficult | Easy | Easy | Easy |
If you want safety, regulation, and simplicity - go with Gemini or Luno. They’re more expensive, but you know your money is protected under Singapore law.
If you want low fees, deep liquidity, and hundreds of coins to trade - Binance wins. But you’re trading safety for scale.
Who Should Use Binance in Singapore?
Here’s the bottom line:
- Use Binance if: You’re an experienced trader, you understand the risks, you’re comfortable with P2P deposits, and you’re okay with no legal recourse if things go wrong.
- Avoid Binance if: You’re new to crypto, you want to deposit SGD easily, you value regulatory protection, or you plan to hold crypto long-term without active trading.
Many Singaporeans use both: keep a small amount on Gemini for safety and long-term holding, and move larger sums to Binance for active trading. That’s a smart hybrid approach.
What’s Next for Binance in Singapore?
MAS has signaled it will crack down harder on unlicensed exchanges. In 2024, they fined two platforms for operating without permits. More are likely coming. Binance has not applied for a license in Singapore. It’s unclear why. Maybe they think their global scale gives them leverage. Maybe they’re waiting to see if regulations soften.
For now, Binance remains a high-risk, high-reward option. It’s not illegal to use - but it’s not protected either. If you choose it, you’re accepting that you’re on your own.
Watch for updates. If Binance ever gets a MAS license, everything changes. Until then, treat it like a casino - not a bank.
Frequently Asked Questions
Is Binance legal in Singapore?
Binance is not illegal to use in Singapore, but it is not licensed by the Monetary Authority of Singapore (MAS). This means it operates without local regulatory oversight. While you can sign up and trade, you won’t have legal protections if something goes wrong - like fund freezes, hacks, or customer support failures. Licensed exchanges like Gemini and Luno are legally required to protect your funds and follow strict security rules.
Can I deposit SGD directly into Binance?
No, you cannot deposit Singapore Dollars (SGD) directly via bank transfer, PayNow, or FAST on Binance. The only way to get SGD onto Binance is through its P2P marketplace, where you trade with other users. Prices vary, and there’s a risk of scams. Some users buy crypto on a MAS-licensed exchange first, then transfer it to Binance to avoid P2P risks.
Is Binance safer than Luno or Gemini?
No, Binance is not safer than Luno or Gemini in Singapore. While Binance has strong global security systems, it lacks MAS licensing, which legally requires exchanges to keep client funds separate, undergo audits, and follow strict anti-fraud rules. Luno and Gemini are licensed by MAS - meaning your funds have legal protection under Singapore law. Binance’s past security incidents and lack of local oversight make it riskier for Singapore users.
Why do people still use Binance if it’s not licensed?
People use Binance because it offers the lowest fees (as low as 0.1%), the largest selection of cryptocurrencies (500+), and the deepest liquidity for trading. It’s also the only platform offering 150x leverage on futures. For active traders who understand the risks, these advantages outweigh the lack of local regulation. Many use it for short-term trading while keeping long-term holdings on licensed exchanges.
What happens if MAS bans Binance in Singapore?
If MAS bans Binance, the platform could block access to Singapore IP addresses or restrict withdrawals. Your funds might become temporarily inaccessible. There’s no guarantee you’ll get them back. That’s why experts advise not to store large amounts on unlicensed exchanges. If you’re holding crypto long-term, keep it on a MAS-licensed platform. Use Binance only for active trading, and only with money you can afford to lose.
Does Binance have a Singapore-specific app?
No, Binance does not have a Singapore-specific app. You download the global version, which works the same everywhere. It supports multiple languages, but it doesn’t offer localized features like PayNow integration, SGD banking options, or Singapore-specific customer support. You’ll need to use P2P or third-party services to handle SGD deposits and withdrawals.
11 Comments
Okay, but like… why does anyone even use Binance here?? I just don’t get it. You’re gambling with your life savings on a platform that could vanish tomorrow like it’s a TikTok trend. I’ve seen people cry because they couldn’t withdraw after a ‘maintenance update’-and MAS won’t lift a finger. It’s not smart, it’s just… dramatic.
It is imperative to recognize that regulatory compliance is not a mere formality, but a foundational pillar of financial integrity. Binance’s refusal to obtain a MAS license constitutes a systemic disregard for investor protection norms. The convenience of low fees cannot supersede the ethical and legal obligation to operate within a jurisdiction’s regulatory framework. One must prioritize security over speculation.
Let’s be real-Binance is the crypto equivalent of a luxury sports car with no seatbelts. You get insane speed, insane torque, insane customization… but if you crash, you’re flying through the windshield. And yeah, P2P is a minefield. I’ve seen someone get scammed with a fake PayNow screenshot. Meanwhile, Luno’s app is like a Prius-boring, reliable, and gets you home alive.
Why are Americans even talking about this? If you’re in Singapore, follow Singapore’s rules. No license = no trust. End of story.
Ugh, I hate when people act like Binance is some kind of villain. It’s not illegal. It’s just not for weaklings. If you can’t handle risk, go back to your savings account and cry about inflation. Binance doesn’t care if you’re scared. It’s built for winners. Period.
The regulatory landscape in Singapore is clear. Licensed entities are subject to stringent safeguards. Unlicensed platforms, regardless of their global reputation or trading volume, operate outside these protections. Users must make informed decisions based on risk tolerance, not convenience or hype.
I get both sides. Binance is like a wild jungle gym-thrilling, full of options, but you better know what you’re doing. Luno is the playground with padded floors and a teacher watching. I keep 80% on Luno, 20% on Binance for swing trades. It’s not perfect, but it’s balanced. And hey, at least I’m not sleeping with one eye open.
Ohhh, so now we’re comparing crypto exchanges like they’re dating profiles? "Binance: 500+ coins, 150x leverage, emotional support available only in memes." Meanwhile, Gemini’s like that quiet librarian who remembers your name and won’t let you borrow their pen unless you sign a 12-page waiver. I used to think Binance was the future… until I saw their customer service reply to a hacked account: ‘We’re sorry for your loss. Please try again tomorrow.’ TOMORROW?! I had $23k in LINK and they gave me a 3am auto-reply with a GIF of a cat falling off a couch. That’s not a platform. That’s a performance art piece titled ‘Capitalism in the Age of Indifference.’
Okay but like-why is everyone acting like Binance is the devil? It’s not like MAS is some sacred temple. They’re just bureaucrats. And P2P? It’s basically crypto Tinder. You swipe right on a guy who says he’ll send you 10k SGD, then he ghosts you after you send him 8k. But hey, at least you got that sweet 0.1% fee. And the charts? *chef’s kiss*. I’m not gonna cry because I’m not playing it safe. I’m playing it smart.
bro i just use binance for the memecoins and luno for my btc… p2p is sketchy but i only deal with verified sellers with 500+ trades 😅 also the app is kinda chaotic but once you get used to it its fire 🔥
I totally get the fear, but I’ve been using Binance P2P for over a year now-only with sellers who’ve done 100+ successful trades and have glowing reviews. Yes, it’s a little nerve-wracking, but the fees are so low that I’ve saved over $2,000 in trading costs compared to Coinhako. And honestly? If you’re holding long-term, you should be storing your coins in a hardware wallet anyway. The exchange is just a bridge, not your vault.