Binance Singapore Crypto Exchange Review 2025: Fees, Safety, and Regulatory Risks

Jamie Gillette
23 November 2025

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Important Note: These calculations assume you're trading on Binance's main platform. Remember that Binance does not hold a MAS license for Singapore users, so there are regulatory risks involved. Savings calculations don't account for P2P transaction risks or potential account freezes.

When you live in Singapore and want to trade crypto, you don’t just pick the biggest exchange. You pick the one that won’t get shut down tomorrow. Binance is the world’s largest crypto platform-handling over $76 billion in daily trades and serving more than 255 million users. But in Singapore, that global size doesn’t automatically mean safety or legality. The real question isn’t whether Binance works here-it’s whether it’s allowed to be here.

Is Binance Licensed by MAS?

This is the single most important thing you need to know. The Monetary Authority of Singapore (MAS) requires every crypto exchange serving local users to hold a Digital Payment Token (DPT) license. Without it, operating in Singapore is illegal. And here’s the problem: Binance doesn’t have one.

You won’t find any official statement from MAS saying Binance is licensed. Unlike Gemini, Luno, or Coinhako-all of which publicly display their MAS licenses-Binance operates in Singapore under its global entity. That means you’re using the same platform that got banned in the UK, fined in Japan, and restricted in the U.S. There’s no Singapore-specific subsidiary, no local compliance team, no MAS oversight. If MAS cracks down, your funds could be frozen overnight. No warning. No refund. Just silence.

What You Can Trade and How Much It Costs

If you ignore the regulatory risk, Binance delivers on features. You get access to over 500 cryptocurrencies and 1,300 trading pairs. That’s more than most exchanges offer globally. Need to trade Solana against Polygon? Dogecoin against Shiba Inu? It’s all there. Even niche tokens and new launches from Binance Launchpool are available within hours.

Trading fees start at 0.1% for spot trades. That’s a fraction of what local competitors charge. Gemini, for example, takes 1.49% per SGD trade. Coinhako charges up to 2%. Binance’s fee structure is designed for high-volume traders-and it shows. If you’re buying $10,000 worth of Bitcoin, you pay $10 in fees on Binance. On Gemini? You pay $149.

You can deposit via credit card, Google Pay, Apple Pay, and bank transfer. But here’s the catch: there’s no direct SGD deposit option on the main platform. You’ll need to use Binance P2P to buy crypto with SGD from other users. That works, but it’s peer-to-peer-meaning you’re trusting strangers, not a regulated bank. Some users report delays or scams on P2P, especially with new accounts.

Advanced Features: Leverage, Earn, and NFTs

Binance isn’t just a spot exchange. It’s a full crypto ecosystem. You can earn interest on your holdings through Binance Earn-get up to 12% APY on stablecoins like USDT or BUSD. There’s also Launchpool, where you can stake tokens to get early access to new projects. And if you’re into NFTs, the Binance NFT marketplace lets you buy, sell, and mint digital art.

For experienced traders, the derivatives market is a major draw. You can trade futures with up to 150x leverage. That’s not a typo. A $100 position can control $15,000 worth of crypto. High reward? Yes. High risk? Absolutely. One bad move and you lose everything. Most beginners don’t survive long here. Even seasoned traders get wiped out during volatile swings. And remember-this high-leverage trading is not regulated by MAS. If you lose money, there’s no protection.

Cheerful chibi trading crypto with low fees amid a storm of 1,300+ coin icons.

App and Interface: Powerful, But Not Beginner-Friendly

The Binance app works well on iOS and Android. Real-time alerts, portfolio tracking, and quick trades are all there. But the interface is cluttered. There are tabs for spot trading, futures, earn, NFTs, loans, and more. It’s overwhelming if you’ve never traded before. You won’t find a simple “Buy Bitcoin” button like you do on Luno or Coinbase.

Beginners get lost in the menus. Even finding your balance can take a few clicks. Customer support is global and slow. If you have an issue with a deposit or KYC, you’re stuck in a ticket queue that can take days to respond. There’s no live chat for Singapore users. No phone number. No local office. You’re on your own.

How Binance Compares to Singapore Alternatives

Here’s how Binance stacks up against the competition:

Binance vs. Top Singapore Crypto Exchanges (2025)
Feature	Binance	Gemini	Luno	Coinhako
MAS Licensed	No	Yes	Yes	Yes
Trading Pairs	1,300+	70+	20+	50+
Spot Trading Fee	0.1%	1.49%	0.99%	1.5%
SGD Deposits	P2P only	Direct	Direct	Direct
Leverage	Up to 150x	Up to 10x	Not available	Not available
Customer Support	Global, slow	Local, responsive	Local, responsive	Local, responsive

If you care about safety, legality, and simple buying-go with Gemini, Luno, or Coinhako. They’re licensed. They have local support. They’re built for Singapore. But if you want low fees, deep liquidity, and the widest selection of coins? Binance wins. Just know you’re trading in a legal gray zone.

Sad investor with frozen wallet as MAS stamp falls, while licensed exchanges glow safely in background.

Who Should Use Binance in Singapore?

Binance isn’t for everyone. Here’s who it works for:

Experienced traders who understand leverage, risk, and volatility
High-volume users who save thousands in fees annually
Investors in altcoins who need access to 500+ tokens
Users comfortable with P2P and peer-to-peer transactions

It’s NOT for:

Beginners who just want to buy Bitcoin and hold
Risk-averse users who need regulatory protection
People who need fast support when things go wrong
Anyone who values legal certainty over low fees

The Bottom Line: High Reward, High Risk

Binance Singapore is a double-edged sword. On one side: unbeatable selection, ultra-low fees, deep liquidity, and powerful tools. On the other: zero MAS license, no legal protection, slow support, and a real chance your account could vanish if regulators act.

In 2025, Singapore is tightening crypto rules. Exchanges without licenses are being pressured to shut down or leave. Binance has stayed quiet. No announcements. No license applications. Just silence.

If you’re willing to accept the risk and know what you’re doing, Binance is still the most powerful tool for crypto trading in Singapore. But if you’re looking for peace of mind? Look elsewhere. Your money is safer on a licensed platform-even if it costs more.

Is Binance legal in Singapore?

No, Binance is not licensed by the Monetary Authority of Singapore (MAS). While it operates and serves users in Singapore, it does so under its global entity without a local Digital Payment Token (DPT) license. This puts it in a legal gray zone. MAS requires all crypto exchanges serving Singapore residents to be licensed, and Binance has not obtained one. Using it carries regulatory risk.

Can I deposit SGD on Binance?

You cannot deposit SGD directly through bank transfer or card on Binance’s main platform. Instead, you must use Binance P2P-peer-to-peer trading where you buy crypto from other users using SGD. While this works, it’s not regulated, and you’re exposed to potential scams or payment delays. For direct SGD deposits, use licensed platforms like Gemini or Luno.

Is Binance safer than other exchanges in Singapore?

Binance has strong security measures like two-factor authentication, cold storage, and insurance funds. But safety isn’t just about tech-it’s about legal protection. Unlike Gemini or Luno, which are MAS-licensed, Binance offers no regulatory recourse if something goes wrong. If MAS shuts down its operations in Singapore, your funds could be frozen without warning. Licensed exchanges provide legal safeguards Binance doesn’t.

Why do people still use Binance in Singapore?

Because it’s the most powerful trading platform available. With over 500 cryptocurrencies, 1,300 trading pairs, and fees as low as 0.1%, it’s unmatched for active traders and altcoin investors. Many users accept the regulatory risk because the benefits-lower costs, deeper liquidity, and access to new tokens-are too valuable to pass up. But they’re doing so with eyes open.

Should I move my crypto from Binance to a licensed exchange?

If you’re holding long-term or don’t actively trade, yes. Moving your assets to an MAS-licensed exchange like Gemini or Luno reduces your risk significantly. You’ll pay higher fees and have fewer trading options, but your funds will be protected under Singapore law. If you’re an active trader who needs low fees and deep markets, keep your funds on Binance-but never deposit more than you’re willing to lose.

17 Comments

Jenny Charland
November 24, 2025 AT 20:31

Binance is a dumpster fire in SG. 0.1% fees? Cool. MAS doesn't care? Also cool. My money's not a gambling chip. 🤡
Emily Michaelson
November 26, 2025 AT 09:42

Honestly, the fee difference is insane. If you're trading over $5k/month, Binance saves you like $1k+ yearly. But yeah, the lack of MAS license is terrifying. I use both: small stuff on Luno, big trades on Binance. Just keep 90% in cold wallet.
Anne Jackson
November 26, 2025 AT 12:33

Americans don't get it. Singapore doesn't need your risky crypto casino. MAS is right to shut this down. You're not 'smart' for using it-you're a liability. If your crypto vanishes, don't come crying to the government. You chose chaos.
David Hardy
November 28, 2025 AT 04:21

I've been on Binance since 2021. Lost 30% on leverage once. Still here. 150x is wild but if you know your stops, it's a game changer. P2P is sketchy but I only use verified traders. No regrets. 🚀
Lisa Hubbard
November 29, 2025 AT 05:08

I just don't have the energy to deal with all this. Why can't they just make it simple? Like, I want to buy Bitcoin. Not navigate 17 tabs and 5 different menus. And why is support so slow? I just want my money to be safe and easy. Ugh.
Dave Sorrell
November 29, 2025 AT 08:42

The MAS license requirement is not arbitrary. It's a legal framework designed to protect retail investors. Operating without one exposes users to systemic risk. While Binance offers superior liquidity, the absence of regulatory oversight negates any financial advantage in the long term.
stuart white
November 29, 2025 AT 15:32

Binance is the only platform that understands what crypto *is*. The rest? Bank clones with extra buttons. If you're not trading 100+ coins, you're not trading-you're collecting digital stickers. 0.1% fee? That's the price of admission to the real game. The rest of you are still using ATMs to buy Bitcoin.
Caren Potgieter
December 1, 2025 AT 14:12

I'm from South Africa and I use Binance P2P all the time. It works if you stick to top traders with good ratings. Yeah it's peer to peer but so is cash. Just don't rush. Take your time. I've bought over $20k worth and never had a problem. Stay chill and check the history
Jennifer MacLeod
December 3, 2025 AT 12:23

I use Binance because I trade altcoins no one else has. Luno has like 15 coins. I need Shiba, Pepe, Doge, and 20 new memecoins that drop on Launchpool. If you're not doing that, you're not even in the game. Fees matter. Access matters. Risk? I accept it.
Linda English
December 5, 2025 AT 04:21

I really understand the appeal of Binance-the depth, the tools, the speed-but I also think about how many people get hurt because they don’t realize how little protection they have. I’ve seen friends lose everything in leverage traps, and then they blame the market. It’s not the market-it’s the lack of guardrails. Maybe we need to talk more about this, not just celebrate the gains.
Julissa Patino
December 5, 2025 AT 05:48

Binance is the only legit exchange. MAS is just protecting banks. 150x leverage is the future. If you can't handle it, don't trade. Also the P2P thing is fine I bought 50k in SGD last month and no one got scammed. Also the app is fine stop complaining
Daryl Chew
December 6, 2025 AT 15:45

They're watching you. MAS knows you're on Binance. They're building a case. They'll freeze everything next month. I heard from a guy who knows a guy at the central bank. They're preparing a raid. Your funds? Gone. Your account? Deleted. Your life? Ruined. You think you're smart? You're already caught.
Tyler Boyle
December 7, 2025 AT 19:37

The real issue isn't the license-it's the structural asymmetry. Binance operates under a global regulatory arbitrage model, exploiting jurisdictional gaps. Singapore, as a highly regulated financial hub, cannot tolerate this. The cost of non-compliance is systemic: loss of investor confidence, reputational damage, and potential contagion. This isn't about fees-it's about financial integrity.
Jane A
December 8, 2025 AT 06:55

You people are idiots. If you're using Binance, you're basically begging to get robbed. MAS is there for a reason. You think you're a trader? You're a sucker. Go buy a lottery ticket instead.
jocelyn cortez
December 8, 2025 AT 11:49

I used to trade on Binance but after I had a 3-day deposit delay and no one responded, I moved everything to Luno. It cost me more in fees but I sleep better. I don't need 150x leverage. I just need to know my money won't disappear because someone didn't file paperwork.
Gus Mitchener
December 9, 2025 AT 21:21

The philosophical tension here is between utility and legitimacy. Binance maximizes individual agency through access and efficiency, while MAS prioritizes collective stability through control and compliance. One enables freedom; the other enforces order. Neither is inherently right-only contextually necessary. The question isn't whether to use Binance, but whether you value autonomy over security.
preet kaur
December 11, 2025 AT 11:29

I'm from India and I use Binance P2P to buy crypto with SGD. It's wild how connected everything is. People from Singapore, Thailand, even Nigeria trading with each other. Money doesn't care about borders. Just be smart, check the trader history, and don't rush. We're all just trying to make it work.