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Binance

AUSTRAC RegisteredAUD Rails LimitedGlobal · Spot Only For AU
Trade on Binance ↗

The deepest order books and tightest spreads in crypto - but Australians now reach them through a narrowed local setup after a turbulent 2023.

Headquarters
Global
Founded
2017
AUSTRAC
Registered - InvestbyBit Pty Ltd, ABN 98 621 652 579VASP register, checked 25 Jul 2026
AU Entity
InvestbyBit Pty Ltd (Binance Australia)
AUD Deposits
Card · P2P (no PayID)
Model
Order book
Assets
350+
Coindaily Score
92 /100

Regulatory standing in Australia

Binance's Australian spot business, InvestbyBit Pty Ltd, is registered with AUSTRAC. Its derivatives arm is a different story: in April 2023 ASIC cancelled the AFS licence of Binance Australia Derivatives (at Binance's own request) after a review of how retail clients had been classified as wholesale, and in December 2024 ASIC commenced civil proceedings alleging hundreds of retail clients were denied consumer protections through that misclassification.

In mid-2023 its Australian payments partner withdrew service, cutting PayID deposits and AUD bank withdrawals. Since then the AUD on-ramp has been limited to card purchases and peer-to-peer, and many Australian users on-ramp through a local exchange and transfer crypto across.

Globally, Binance settled with US authorities in 2023 for roughly US$4.3 billion over AML and sanctions failures, with its founder stepping down as CEO. The exchange remains the world's largest by volume and has since operated under a compliance monitorship.

Costs in practice

Maker
0.10%
Taker
0.10%
Typical Spread
0.03%
Effective Cost
~0.13%

Order-book venue: effective cost ≈ taker fee + spread. Figures match the Coindaily exchanges table and are modelled; check the live schedule before trading.

binance.com/en-AU
Binance homepage
Homepage as served to Australian visitors · captured Jun 2026

Local offerings & AUD rails

  • Deepest liquidity in crypto - tightest spreads on majors of any venue
  • 0.10% spot fees, lower with BNB or volume tiers
  • 350+ assets, extensive earn and convert products (availability varies for AU)
  • No PayID or AUD bank rails at the time of writing - card and P2P only
  • Derivatives are not available to Australian retail clients

Where it wins

  • Unmatched liquidity and spreads
  • Lowest headline fees of the major venues
  • Largest asset and product range

Where it costs you

  • AUD banking rails cut since 2023 - clunky on-ramp
  • Derivatives licence cancelled; ASIC proceedings over client classification
  • US$4.3B global settlement history weighs on trust
Trading fee from
0.10% maker / 0.10% taker on spot, or 0.075% paying fees in BNB
https://www.binance.com/en-AU/fee/schedule
AUD deposit
PayID and bank transfer, restored 16 January 2026 after a two and a half year outage
https://cryptonews.com.au/news/aud-deposits-and-withdrawals-reinstated-on-binance-australia-132559/
SMSF accounts
Yes, through an entity account with KYB verification
https://www.binance.com/en-AU/support/faq/360015552032

What it costs

Trading fees, subscriptions, deposits and withdrawals

Spot trading feeRegular User tier, applied to anyone under US$1m of 30 day volume holding less than 5 BNB. Same rate for maker and taker.
0.10% / 0.10%maker / taker
source·
BNB fee discountPaying trading fees with BNB from your spot wallet takes 25% off the standard spot rate. You have to hold BNB and switch the toggle on.
0.075% / 0.075%25% off standard
source·
VIP tiersNine VIP levels gated on 30 day volume and BNB holdings. VIP 1 starts at US$1m volume plus 5 BNB. VIP 9 requires roughly US$4b volume plus 5,500 BNB.
0.011% / 0.023% at VIP 9nine tiers above Regular
source·
Monthly or subscription feeNo platform subscription, no account keeping fee and no inactivity fee published for Australian spot accounts.
None
source·
AUD deposit feePayID and bank transfer deposits are reported as free. Binance does not publish a public Australian fiat fee table - the fiat fee page requires a login, so this is not confirmable from a primary source.
Reported freenot publicly published
source·
Card deposit feeDebit and credit card purchases carry a third party processing charge on top of the spot spread. Reported at around 2%, which is the expensive way in.
Around 2%third party processor
source·
AUD withdrawal feePayID and bank transfer withdrawals are reported as free to verified users. Again there is no published Australian fiat fee schedule to check this against.
Reported freenot publicly published
source·
Crypto withdrawal feeSet per asset and per network and adjusted dynamically by Binance. Cheap networks such as Solana and Tron cost a fraction of Ethereum mainnet. The published table is the only reliable reference.
Varies by asset and networkcheck before each send
source·

Limits and the costs that hide

Spreads, deposit caps and charges that do not appear on a fee page

There is no AUD order bookEvery AUD spot pair is still halted. Binance's own public API returns status BREAK for all 30 AUD symbols, the BTC/AUD order book is empty and the last BTC/AUD trade printed on 1 June 2023. Restoring AUD banking in January 2026 did not restore AUD markets.
0 live AUD pairsverified against Binance API on 25 July 2026
source·
So the 0.10% headline does not apply to AUDWith no AUD book, an AUD balance has to be converted or spent through Buy Crypto or Convert, which price off a quoted rate with the margin built into the rate rather than a visible 0.10% taker fee. The advertised spot fee only applies once you are trading a crypto to crypto or USDT pair.
Quoted rate, not a 0.10% feespread is embedded
source·
When the AUD pairs were removedBinance delisted eight AUD pairs on 26 May 2023 and a further eleven, including BTC/AUD, ETH/AUD, BNB/AUD, XRP/AUD and SOL/AUD, on 1 June 2023, citing PayID disruption and under 1% of users trading them.
Delisted May and June 2023never relisted
source·
P2P spreadsBinance P2P is available in Australia with PayID and Osko and charges takers no trading fee, but the price is set by the counterparty merchant. Reported effective spreads run 1% to 3%.
Around 1% to 3%merchant set pricing
source·
Minimum order sizeBinance enforces a minimum notional value per order, commonly US$5 equivalent on major pairs. Orders below it are rejected outright.
About US$5 notionalvaries by pair
source·
The AUD rollout is still phasedBinance announced full restoration on 16 January 2026, but reporting at the time noted the release was staged and that some Australian users still could not see the AUD withdrawal option in their account.
Not universally livestaged release
source·
No published Australian fee scheduleThe Australian fiat deposit and withdrawal fee page returns no AUD rows without a login, and there is no standalone Binance Australia fee document. You cannot price a deposit or withdrawal before you sign up.
Login required
source·
Selling crypto to cardWhere AUD bank rails are not available, third party sell to card routes have been observed charging materially more than a bank withdrawal.
Around 5% to 6% reportedthird party route
source·

What you can trade

Assets, Australian dollar pairs, staking and derivatives

Assets availableBinance's Australian site advertises over 600 cryptocurrencies. A direct read of the public exchange info API on 25 July 2026 counts 471 distinct base assets across 1,369 live spot pairs, so treat the marketing number as generous.
471 base assets liveBinance advertises 600 plus
source·
Direct AUD pairsNone. Nothing trades against AUD on the order book. Quote currencies with live books are led by USDT, USDC, TRY, BTC, FDUSD, EUR and JPY.
ZeroAUD is a funding currency only
source·
Futures and perpetualsAustralian users have been blocked from opening new futures accounts since 8 July 2021. The derivatives entity that served Australia, Oztures Trading Pty Ltd, no longer holds a licence.
Blocked for Australian retailsince July 2021
source·
Options and leveraged tokensRestricted with immediate effect for Australian users from 19 August 2021, in the same announcement that closed off margin account openings.
Blockedsince August 2021
source·
Margin tradingBinance restricted Australians from opening new margin accounts in August 2021 and delisted AUD margin pairs the month before, yet the Australian site still markets margin with up to 10x leverage. The two statements conflict and Binance has not published a current position.
Conflicting informationverify in account
source·
Simple Earn and stakingNew subscriptions to Simple Earn flexible and locked products, BNB Vault, ETH staking, DeFi staking and liquidity farming were withdrawn from Australian users during 2023. ASIC's class no-action position also expressly excludes crypto lending and earn products.
Withdrawn for Australia
source·
On-Chain YieldsThe Australian site lists On-Chain Yields as an available way to earn rewards, reported as covering BTC, USDT and BNB. This is the replacement for the retired Earn products rather than a like for like restoration.
Availablelimited asset set
source·
P2P marketplaceBinance P2P operates an Australian AUD market with PayID and Osko payment methods. Takers pay no Binance trading fee, makers pay a small transaction fee.
Available in AUDPayID and Osko supported
source·

How your assets are held

Custody, reserves, insurance and self-custody

Who holds your cryptoBinance holds customer crypto in its own wallet infrastructure. Because the Australian entity holds no AFSL, ASIC's client money and client property rules do not bind it, and there is no Australian statutory trust over your balance.
Binance, in omnibus custodyno AFSL client money protections
source·
Proof of ReservesBinance publishes a Proof of Reserves built on a Merkle tree and upgraded with zk-SNARKs, so an individual user can verify their own balance is included in the claimed total without exposing anyone else's holdings. Snapshots are published monthly and you can select the verification date.
Published, self-verifiableMerkle tree plus zk-SNARK
source·
Who audits the reservesThe Proof of Reserves page names no independent audit firm. The system proves inclusion and a non negative net balance, it does not attest to liabilities held off the tree or to the solvency of the group as a whole.
No named third party auditorself attested
source·
SAFU emergency fundThe Secure Asset Fund for Users is funded from trading fee allocations and held at roughly US$1 billion. Binance completed a conversion of the fund into 15,000 BTC in February 2026, and publishes the holding wallet addresses.
About US$1 billion15,000 BTC as at Feb 2026
source·
SAFU is not insuranceBinance states it retains full discretion over what types of loss and which claims are eligible, and may change SAFU's intended use at any time. It is aimed at losses from compromised credentials caused by Binance system vulnerabilities, not at market losses or your own mistakes.
Discretionary, not a policyBinance decides eligibility
source·
Top up commitmentIf the market value of SAFU falls below US$800 million on price moves, Binance rebalances it back toward US$1 billion. Now that the fund is entirely in bitcoin, its value moves with the asset it is meant to backstop.
Rebalanced below US$800msingle asset concentration
source·
Government guaranteeNone. Crypto held on an exchange is not a bank deposit, is not covered by the Financial Claims Scheme and, with no AFSL in place, there is no access to the Australian Financial Complaints Authority for the underlying holdings.
Nonot a protected deposit
source·
Self-custodyWithdrawals to external wallets are supported across every listed network, and address whitelisting can be turned on so funds can only leave to addresses you have pre-approved.
Supportedwhitelist available
source·

Who can open an account

Entity types onboarded in Australia

IndividualsStandard personal accounts with identity verification. KYC is mandatory before trading or moving fiat, and Binance Australia is a reporting entity so identity data is collected and reportable.
YesKYC required
source·
Companies and other entitiesEntity accounts are onboarded through a Know Your Business process. You register the account as an entity from the outset rather than converting a personal account, and required documents vary by legal form.
YesKYB verification
source·
TrustsHandled through the same entity verification path, with document requirements set by the legal form of the trust. There is no separate trust product.
Yes, via entity account
source·
Self managed super fundsAn SMSF is onboarded as an entity account. The fund needs to be properly established, hold an ABN and have its own Australian bank account in the fund's name before it can be verified and funded.
Yes, via entity accountABN and fund bank account needed
source·
One account per companyEach company may hold only one corporate account. Once corporate level verification is approved you get access to sub-accounts, which is how larger entities separate strategies or desks.
One, plus sub-accounts
source·
Derivatives accountsAustralian users cannot open futures, options, margin or leveraged token accounts. The Australian derivatives entity surrendered its licence in April 2023 and the business was wound down.
Not availablespot and P2P only
source·

Trading features

Order types, recurring buys, tooling and access

Order typesSpot supports market, limit, stop-limit, trailing stop and OCO, plus post only, iceberg and time in force controls. Trailing deltas can also be attached to the contingent leg of an OCO.
Market, limit, stop-limit, OCO, trailing stopplus post only and iceberg
source·
Recurring buysRecurring Buy sets a repeating fiat purchase on a card or supported payment method. Documented on the Australian help centre.
Available
source·
Auto-InvestA dollar cost averaging tool that buys a chosen basket on a schedule using stablecoins, fiat or eligible crypto. Binance runs an Australian Auto-Invest page. Note that historically Auto-Invest parked purchases in Earn products, which Australia no longer has, so confirm where holdings land.
Availablecheck where holdings settle
source·
Minimum tradeOrders must clear a minimum notional value, commonly US$5 equivalent on major pairs, with the exact figure retrievable per symbol from the public exchange info endpoint.
About US$5per pair
source·
API accessFull public REST and WebSocket market data plus authenticated trading endpoints, free to use, with read-only key options that are the safer choice for tax and portfolio tools.
Free REST and WebSocketread-only keys supported
source·
Lite and Pro modesThe app ships with a simplified Lite view for buying and holding and a full Pro view with order books, depth and advanced order entry. You can switch between them.
Both
source·
Demo or paper tradingBinance's only simulator is the Futures testnet mock trading environment, and Australian retail users are blocked from futures. There is no spot paper trading account.
No spot demofutures testnet only, and blocked here
source·
Early access listingsThe Australian site surfaces Binance Alpha, an early access channel to newly listed projects. Higher risk and thinner liquidity than main spot listings.
Binance Alpha
source·

Money in and out

Minimums, methods and settlement speed

AUD deposit methodsPayID and standard BSB bank transfer were reinstated for all verified Australian users on 16 January 2026, ending a suspension that began in mid 2023. Debit and credit cards remain available.
PayID, bank transfer, cardrestored 16 January 2026
source·
PayID settlementPayID rides the New Payments Platform, so deposits clear in real time including on weekends and public holidays, subject to your own bank's controls.
Near instant24/7
source·
AUD withdrawal speedBank transfer withdrawals have been reported landing in one to five business days depending on the receiving bank, which is slow compared to the instant deposit leg.
1 to 5 business daysreported
source·
Minimum depositBinance publishes no minimum AUD deposit for Australia. The launch promotion was keyed to a AU$50 deposit, which is the only public figure in the neighbourhood, and it is a promotion threshold rather than a platform minimum.
Not publishedAU$50 promo threshold only
source·
Crypto depositsFree on Binance's side across supported networks. You still pay whatever the sending wallet or exchange charges in network fees.
Freenetwork fee applies at source
source·
Why AUD was gone for two and a half yearsBinance Australia lost AUD bank transfer rails in June 2023 when its third party payments provider Cuscal withdrew service. For that whole period Australians could only fund by card or P2P.
June 2023 to January 2026payments partner withdrew
source·
Fiat off-ramp requires a conversion firstBecause there is no AUD order book, you must sell or convert your crypto into an AUD balance in the spot wallet before you can withdraw. That conversion is priced off a quote, not a visible book.
Convert, then withdrawtwo steps
source·
P2P as a fallbackThe AUD P2P market with PayID and Osko remains available and is what most Australians used during the outage. Useful redundancy if the bank rails are interrupted again.
Availablecounterparty priced
source·

Tax and reporting

What you get at tax time, and what you do not

Binance Tax toolA free in-platform tool that produces a capital gains report, an income gains report and a transaction report from your Binance activity, covering up to 100,000 transactions.
Free, up to 100k transactions
source·
What Binance Tax leaves outIt does not cover Futures or NFT activity and does not pull in data from other exchanges or wallets. If you trade anywhere else, its numbers are incomplete by construction.
Binance data onlyno futures, no NFT
source·
Data exportYou can export a full transaction history as CSV or connect a read-only API key. Read-only keys are the right choice for tax software so a compromised key cannot move funds.
CSV and read-only API
source·
Koinly partnershipBinance Australia partnered with Koinly to give local users ATO oriented reporting. Koinly syncs Binance alongside other exchanges and wallets and generates a myTax ready summary.
Official integration
source·
Other tax softwareBinance is a standard integration across the Australian crypto tax tools, including Koinly, Crypto Tax Calculator, CoinTracking and Syla, via API or CSV.
Widely supported
source·
The ATO already has your dataBinance Australia is an AUSTRAC reporting entity, so it collects and reports KYC and transaction information. The ATO's data matching program picks up name, address, wallet addresses and transaction values. Assume every trade is visible.
ReportedAUSTRAC and ATO data matching
source·

Platform and support

Apps, account security and how you reach a human

Support channels24/7 live chat through the support widget on web and in the app, fronted by an AI assistant that routes to a human agent once its suggestions are exhausted. There is also a searchable help centre.
24/7 live chatAI triage first
source·
Phone supportNone. Binance does not operate a general customer support phone line anywhere, including Australia. Search results are littered with fake Binance support numbers, which is a live scam vector.
No phone linebeware fake numbers
source·
Local Australian supportSupport is a global function. Binance notes that agents may not be able to reply in your preferred language and advises submitting in English. There is no published Australian business hours desk.
Global team, Englishno local desk published
source·
Two factor authenticationPasskeys, an authenticator app, the Binance Authenticator and SMS are all supported. Use a passkey or authenticator rather than SMS, which is exposed to SIM swap attacks.
Passkey, TOTP, SMSavoid SMS only
source·
Withdrawal address whitelistAvailable but off by default. Once enabled, withdrawals can only go to pre-approved addresses, and adding an address needs 2FA plus email confirmation. Worth turning on immediately.
Available, off by default
source·
AppsNative iOS and Android apps plus desktop clients for Windows, macOS and Linux, alongside the web platform and the Binance Authenticator app.
iOS, Android, desktop, web
source·
EducationBinance Academy is free and open without an account, covering structured beginner to advanced courses, product guides and a glossary of several hundred terms, plus Learn and Earn quizzes that pay small crypto rewards.
Binance Academy, freecourses, glossary, Learn and Earn
source·

Trust and regulation

The entity you are actually contracting with

Australian legal entityThe spot exchange is operated by InvestbyBit Pty Ltd, an Australian private company registered in New South Wales and active since September 2017, trading as Binance Australia.
InvestbyBit Pty LtdACN 621 652 579, ABN 98 621 652 579
source·
AUSTRAC registrationBinance Australia is a registered reporting entity supervised by AUSTRAC as a virtual asset service provider. This is anti money laundering registration, not a financial services licence, and it says nothing about how your money is looked after.
Registered, 100576141-001AML registration only
source·
AFSL statusNo Australian Financial Services Licence. Binance Australia states it has lodged an AFSL application with ASIC which is pending determination.
None, application pending
source·
How it operates unlicensedIt relies on ASIC's class no-action letter of 29 October 2025 for digital asset businesses transitioning to licensing, since extended to 30 September 2026. That relief expressly excludes crypto lending and earn products and crypto derivatives, which is why those are not offered here.
ASIC class no-action reliefexpires 30 September 2026
source·
AUSTRAC audit directionIn August 2025 AUSTRAC directed Binance Australia to appoint an external auditor after identifying serious concerns with its AML and counter terrorism financing controls, flagging high staff turnover, thin local resourcing and weak senior management oversight. This is live supervisory action against the spot business.
External auditor orderedAugust 2025
source·
The derivatives entity is a different companyBinance Australia Derivatives was Oztures Trading Pty Ltd, a separate entity. ASIC cancelled its AFS licence on 6 April 2023 at Oztures' own request, following a targeted review begun in December 2022 into how it classified clients.
AFSL cancelled 6 April 2023Oztures Trading Pty Ltd
source·
A$10 million Federal Court penaltyOn 27 March 2026 the Federal Court ordered Oztures to pay a A$10 million penalty for misclassifying 524 retail investors as wholesale clients between July 2022 and April 2023, more than 85% of its Australian client base. Those clients incurred A$8.66m in trading losses and paid A$3.89m in fees. Clients could retake the sophisticated investor quiz until they passed.
A$10 million27 March 2026, ASIC 26-055MR
source·
Compensation already paidASIC oversaw approximately A$13.1 million in compensation paid to the affected clients in 2023, before the penalty was handed down. The spot exchange run by InvestbyBit has never been the subject of ASIC enforcement action.
About A$13.1 million in 2023spot business not implicated
source·

Figures are read from Binance's own published schedules and disclosures. Crypto platforms change pricing and product availability often - click source on any row to check it yourself, and dispute anything that looks wrong.

Frequently asked questions

Is Binance still available in Australia?

Yes, for spot trading. The local entity is AUSTRAC-registered. Derivatives are not available to Australian retail clients after the 2023 licence cancellation.

Can I deposit AUD?

Not by PayID or bank transfer at the time of writing. The 2023 loss of its payments partner means card purchases and P2P are the main AUD routes; many users buy on a local exchange and transfer crypto in.

What is ASIC's current action about?

In December 2024 ASIC commenced proceedings against Binance Australia Derivatives, alleging retail clients were misclassified as wholesale and lost consumer protections. The case concerns the now-closed derivatives business.

Registrations, licences and product availability change. Check the current AUSTRAC Virtual Asset Service Provider Register and the platform's own disclosures before depositing. This page is general information only, not financial advice, and may contain modelled figures.

Compare with

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