Binance VIP 1-9
A plan byBinance
Binance is the world's number-one spot exchange by volume (around $8.5B/24h), with over 400 cryptos, 0.10% trading fees (0.075% paying in BNB) and a SAFU insurance fund of over $1B. Its operational strength sits alongside a heavy legal history (a $4.3B DOJ settlement in 2023) and a fragmented corporate structure.
VIP 1-9
- Cashback currency
- Nessuno
- Required staking
- Nessuno
- Net annual cost
- Free
- 30-day volume
- $1M
- Maker fee (min)
- 0.012
- Taker fee (min)
- 0.024
What's included
- Account manager (VIP 5+)
Data & conditions
§ Amounts in USD/GBP are shown in the service's native currency.
| Maker / Taker fee | 0.1% / 0.1% |
|---|---|
| Markets | Spot |
| Max leverage | 125× |
| Supported assets | 400+ |
| 24h volume (as of Jun 1) | $8.5B |
| Fiat on-ramp | Yes |
| Geo restrictions | UK (retail), NL, CA |
| Staking / Earn | Earn, staking e risparmio flessibile su numerose crypto |
| Fund custody | Custodial (platform holds funds) |
| Currencies / quote | EUR, USDT, BTC |
| KYC | Full |
| Supported countries | EEA, APAC, LATAM, MENA, AFRICA · 180+ countries |
| Regulator | VARA, AMF, ASIC, CNMV, CONSOB, FMA, KNF, SEC, SFSA, etc. |
| OAM Italy registration | Yes |
| Segment | B2C |
| Past incidents | $4.3B DOJ settlement (2023) · CZ convicted · Banned for UK retail / Netherlands / Canada |
| Funding / solidity | 200M+ users · $1B+ SAFU fund · $4.3B DOJ fine (2023) |
| MiCA / License status | AMF (FR)OAM (IT)Bank of SpainVARA (Dubai) Local licences: AMF (FR), OAM (IT), Bank of Spain, VARA (Dubai) |
Strengths
- #1 spot volume worldwide (~$8.5B/24h) and 400+ cryptos
- 0.10% trading fees (0.075% with BNB)
- SAFU insurance fund of over $1B
- No notable sovereignty advantage documented.
Weaknesses
- $4.3B DOJ settlement (2023) and CZ convicted
- Aggressive KYC and fragmented corporate structure
- Operations banned or restricted in some markets (UK retail, NL, CA)
- Custodial: the platform holds your funds and can freeze or lose them.
- Full KYC required: verified identity, zero pseudonymity.
- Subject to regulation (Local licences: AMF (FR), OAM (IT), Bank of Spain, VARA (Dubai)): reporting to authorities and freezes on order.
- Geographic restrictions (UK (retail), NL, CA).
Verdict
The high rating rests on operational scale: #1 spot volume worldwide, 0.10% fees and a SAFU fund of over $1B, which lower liquidity risk on the way out. What weighs against it, and keeps it below the listed, heavily licensed names, is the 2023 $4.3B DOJ settlement with CZ's conviction and a fragmented corporate structure: for the ordinary user this means excellent execution but a governance whose legal past is still a variable to price in.
On this lens Binance counts for little, regardless of its power: it is custodial with full KYC and a privacy score of 2, so funds and identity pass entirely through a centralized intermediary. The retail ban in the UK, Netherlands and Canada shows exactly how dependent its operations are on jurisdictional compliance, the opposite of the censorship resistance that matters here.
Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.
"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.
Reputation
What happened to people who used Binance, and what users say. External signals: they do not feed the promp.it rating.
Incidents & regulatory actions
Notable incidentsDocumented events with consequences still open. Each entry carries a source and a date.
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Regulatory action Critical ● open
Binance suspends EU services after failing to secure a MiCA licence
From 1 July 2026 new orders, deposits, sign-ups and staking/Earn products are halted for EU residents, Italy included; withdrawals remain open and funds accessible. Binance withdrew its Greek MiCA application on 24 June 2026 and says it will seek authorisation in France.
↗ source -
Fine Critical $4B ✓ resolved
Record $4.3 billion settlement with US authorities over AML and sanctions violations
A $3.4bn FinCEN penalty with a five-year monitorship and a $968,618,825 OFAC settlement for 1,667,153 apparent sanctions violations, plus parallel resolutions with the DOJ and CFTC. Founder Changpeng Zhao pleaded guilty, stepped down as CEO and paid $50m.
↗ source -
Depeg Severe $283M ✓ resolved
USDe, BNSOL and wBETH depeg on Binance triggering cascading liquidations
During the 10 October 2025 crash USDe briefly fell below $0.66 on Binance. The exchange paid $283 million in compensation to futures, margin and loan users holding USDe, BNSOL or wBETH as collateral in the 21:36-22:16 UTC window.
↗ source -
Hack / funds theft Severe $41M ✓ resolved
7,000 BTC stolen from the hot wallet, about $40 million
Attackers obtained API keys and 2FA codes and withdrew 7,000 BTC in a single transaction, about 2% of BTC holdings. Binance covered the loss in full via the SAFU fund: no user funds were affected.
↗ source -
Fine Moderate ✓ resolved
Australia: A$10 million penalty for misclassifying 524 retail clients as wholesale
The Federal Court penalised Oztures Trading (Binance Australia Derivatives) in an ASIC action: between July 2022 and April 2023 over 85% of Australian clients were classified as wholesale, exposing 524 retail investors to crypto derivatives without the required protections. That group incurred A$8.66m in trading losses and paid A$3.89m in fees; about A$13.1m in compensation had already been paid in 2023.
↗ source
verified on
Public reviews
- Google Play ↗ 4.8/5 ~ 4,480,000 reviews
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Trustpilot ↗
score not published
6,143 reviews
Trustpilot publishes no score for Binance: “This company’s rating is unavailable due to a breach of our guidelines”, with the note “We’ve removed a number of fake reviews for this company”. Distribution read on 20 Jul 2026: 82% one star, 6% five stars; 799 reviews in the last 12 months.
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App Store ↗
4.7/5
~
5,900 reviews
Read on the Cyprus storefront: the international app is not distributed on the US App Store. App Store scores vary by country and the Italian one was not verified.
Weighted average across 2 public review platforms (4,485,900 reviews in total), weighted by volume. This is not our rating: it is those platforms’ average.
Community signal
not verified by usPublic opinions collected from third parties, not verified by us. Online reviews can be manipulated: read them as a hint, not as data. The promp.it verdict remains the one above, based solely on official documents.
What users praise
- Breadth of offering: hundreds of assets and nearly every crypto service in one platform
- High liquidity: limit and stop-loss orders reliably executed
- Smooth app, well rated on the stores
What users criticise
- Accounts frozen or closed without explanation, funds locked for weeks
- Support replying with scripted messages and closing unresolved tickets
- Rejected, untraceable fiat withdrawals with no SWIFT/MT103 documentation
- Identity and address verification repeatedly rejecting valid documents
The service’s own official accounts are excluded from the count. No band declared: only 10 reviews were read in full, below our minimum threshold of 12. Reddit, X and forums were not accessible, so Trustpilot is the only sampled channel — a channel structurally skewed towards complaints for exchanges, and one where Binance’s score is suspended. App store ratings point the other way: the picture is openly contradictory and the themes below should not be read as general user sentiment.
Voices from the community
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I have been waiting for over a month for my funds to be returned to my bank account. Support keeps avoiding responsibility by claiming “it is out of their hands”. They have consistently failed to provide me with an outbound MT103/SWIFT document or any official confirmation of the return.
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My whole account got frozen and it’s been 43 days, I didn’t hear any update. Their support team responds exclusively with generic scripts. They can freeze your account and hold all of your funds without warning.
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They are the flagship crypto exchange, offering nearly every crypto service you might need. It’s easy to trade with relatively fast executions and markets are very liquid, so your stop-loss and limit orders will be executed in most cases. Support can be good, depends on who you get. However, they do still list coins that they shouldn’t list.
Every quote links to its original source: check for yourself, don’t trust the summary.
FAQ
How much does trading on Binance cost?
The standard spot fee is 0.10%, dropping to 0.075% when paying fees in BNB; high-volume VIP users pay much less.
Is Binance regulated in Italy?
Binance is registered with the OAM register in Italy and holds local licences in various countries, but remains subject to restrictions in some markets.
Sources
- Official service page Plans & pricing · Regulatory framework · Maker/taker fees · Derivatives · +12 Data verified on Jul 16, 2026
- capitalmarketstribunal.ca Legal name Data verified on Jun 15, 2026
- coindesk.com Latest funding round Data verified on Jun 15, 2026
- pitchbook.com Company type · Stock ticker · Stock listing · IPO date Data verified on Jun 15, 2026