Binance referral code guide
How to sign up on Binance with code MENATRADERS
- Open the invite link binance.com/join?ref=MENATRADERS in a fresh browser tab. Typing the address yourself is safer than clicking an ad that claims to be Binance.
- Choose whether to register with an email address or a phone number, then set a password you do not use anywhere else.
- Before you press the final button, look at the referral ID box. It should already read MENATRADERS. If it is empty, type MENATRADERS in capital letters.
- Confirm the one-time code Binance sends to your email or phone. The account now exists, and the referral is attached to it at this moment.
- Complete identity verification if Binance asks for it in your region, then turn on two-factor authentication before you deposit anything.
- Open your fee or referral settings to check that the reduced rate shows. Menu names differ between the app and the website, so if you cannot find it, search the help center for the word referral.
What the Binance referral code gives you
MENATRADERS is a referral ID, not a deposit bonus. Its value comes entirely from paying less every time an order fills. Accounts opened with it get up to 20% off eligible spot and futures trading fees.
The referral is linked when the account is created, so adding the ID to an account that already exists usually does not work. If you registered without it, ask Binance support before you open a second account, because duplicate accounts can break the platform's rules. How long the discount lasts and which trading pairs are excluded can change, so read the current referral terms on Binance before you rely on a specific saving.
Binance trading fees explained
Binance lists the same rate for both sides of a spot trade: 0.1% maker and 0.1% taker. That means placing a limit order instead of a market order saves you nothing on spot. The referral discount is the main lever. A $2,500 market buy of BTC costs $2.50 at the base rate and $2.00 with 20% off, a $0.50 saving on one order.
Futures work differently because maker and taker are priced separately: 0.02% maker against 0.05% taker. Take a $40,000 perpetual position opened with a market order. The taker fee is $20.00 before the discount and $16.00 after. If you had rested a limit order instead, the maker fee would be $8.00, or $6.40 with the code. On Binance futures, choosing maker orders saves you more than the referral does, so use both.
Remember that closing a position is a second trade. A trader who opens and closes that $40,000 position with market orders pays $40.00 in base fees per round trip, or $32.00 with MENATRADERS.
Who Binance is best for and not for
Best for
- Traders who want the world's largest crypto exchange by trading volume, where deep order books help large market orders fill close to the quoted price.
- Futures traders who can rest limit orders and take advantage of the 0.02% maker rate.
- Users who want one account for both spot and derivatives instead of spreading funds across several platforms.
Not for
- Spot traders hunting for the lowest headline rate: at 0.1% on both sides, Binance spot is not the cheapest venue on this site.
- Residents of countries where Binance does not serve customers. Read the list of supported countries on Binance before you sign up, not after you deposit.
- Anyone looking for a large sign-up cash bonus. MENATRADERS only lowers fees.
Binance vs OKX and Bybit
OKX matches Binance on futures (0.02% maker, 0.05% taker) but charges makers less on spot: 0.08% against Binance's flat 0.1%. If you mostly place spot limit orders, OKX costs less per fill. For spot market orders, the two charge the same 0.1%.
Bybit also lists 0.1% on both sides of spot, but its futures taker rate is 0.055%, slightly above Binance's 0.05%. On $100,000 of futures market orders a month, that difference is $5.00 before any referral discount. For traders who mostly use market orders on futures, Binance comes out a little cheaper than Bybit at these listed rates.
Related: OKX referral code · Bybit referral code