Binance vs Trade Republic Comparison

Editorial assessment, November 2026: We have downgraded Binance to 2.2 out of 5 and do not recommend the exchange. The deciding factor is the missing authorisation: no Binance company is listed in ESMA's register of crypto-asset service providers authorised under MiCA (file dated 5 November 2026, accessed 8 November 2026), and Binance withdrew its application in Greece on 24 June 2026. On top of that came the attack on the exchange's hot wallets on 29 October 2026, after which withdrawals were suspended from 30 October to 1 November. Low trading fees and the large choice of coins do not outweigh this for us. MiCA-licensed exchanges are listed in our comparison of regulated crypto exchanges.

In short: Binance is the world's largest crypto exchange by trading volume: more than 480 coins, spot trading from 0.1%, from 0.075% with BNB, plus futures and a regular proof of reserves. For investors in the EU, licensing comes first: Binance holds no MiCA licence, and according to Binance users in the EU may be restricted depending on their country and account status. According to Binance, balances remain accessible and can be withdrawn.

Is Binance safe and licensed in the EU?

Binance is not taking new customers in the EU at the moment. Crypto exchanges need a licence under the EU's MiCA regulation to serve customers in the EU. The transition period for providers registered under national rules ended on 1 July 2026 across the EU, and on 31 December 2025 in Germany. Binance does not appear in the ESMA register (file of 22 October 2026, 387 licensed providers). Binance withdrew its application with the Greek capital market regulator on 24 June 2026 and announced that it would apply in another EU member state. Background in our report on the Binance MiCA licence.

Reserves and track record: Binance regularly publishes a proof of reserves, verified with a Merkle tree and zk-SNARKs. The snapshot of 1 October 2026 shows coverage of 100.35% for Bitcoin, 100.00% for Ether, 103.88% for USDT and 100.47% for BNB (Binance proof of reserves). For emergencies such as hacks, Binance keeps its SAFU fund. In 2023 Binance pleaded guilty in the US to breaching anti-money laundering rules and paid $4.3 billion.

Hack in October 2026: On the evening of 29 October 2026 an attacker drained crypto from Binance wallets. In an official announcement the exchange puts the damage at around $6.3 billion, of which about $3 billion is frozen on-chain. According to Binance the entry point was an employee's compromised laptop; no private key leak has been found. Binance will cover all losses from its SAFU fund and company funds; according to Recovery Update #4 of 1 November, around 95 percent had been replaced. Since the morning of 1 November the first withdrawals have been running again; at 16:30 UTC the Binance interface showed them open for Bitcoin, Ether, BNB, Solana, XRP, USDT and USDC. Binance expects to publish its full proof of reserves by Tuesday, 3 November (UTC). What happened is in our report on the Binance hack, where the money went in our on-chain analysis. If you want to hold your coins independently of any exchange, our hardware wallet comparison lists the devices.

What you can do yourself: if you still hold funds at Binance, turn on two-factor authentication and a withdrawal address whitelist, and keep larger amounts in your own wallet, for example a hardware wallet, or move them to an exchange with a MiCA licence.

Who is Binance for?

Binance suits experienced traders outside the EU who want a very large choice of coins, futures and low spot fees. If you want to open an account in the EU, choose an exchange with a MiCA licence, such as OKX, Kraken, Bybit EU or Bitvavo. Our report on Binance fees breaks down the costs; all licensed providers are listed in our comparison of regulated crypto exchanges.

Trade Republic is considered one of the best-known neobrokers in the DACH region and is used by many users as an entry point into the world of cryptocurrencies. Trade Republic is a bank supervised by BaFin and, in addition to 50 cryptocurrencies, also offers stocks, ETFs, and derivatives from a single source. By its own account it is one of the first banks in Europe authorised under the EU's MiCA regulation; ESMA's register has listed the crypto services of Trade Republic Bank GmbH since 28 April 2025, notified to BaFin as a bank under Article 60 of MiCA. Users appreciate that Trade Republic charges no order commission; each single order costs a flat EUR 1, savings plans run without it, and the remaining costs arise through the spread, whose transparency is occasionally rated as room for improvement.

Particularly appreciated are the savings plans from €1, which make it easy to get started with regular crypto investing. For investors who want to manage crypto, stocks, and ETFs in a single app, Trade Republic is considered one of the most accessible solutions on the German market. The app is described as intuitive and clearly geared toward beginners and occasional investors.

The Crypto Wallet lets you send cryptocurrencies to external wallets and receive them from there, according to Trade Republic without any transaction fees of its own. The SMS-based 2FA security is also considered room for improvement. Trade Republic is therefore especially suitable for investors looking for a regulated, uncomplicated way to access cryptocurrencies as part of a broad securities offering and who want to be able to move their coins to a wallet of their own.