Analysis: Binance US Stock Trading Cost Comparable to IBKR, Far Lower Than Tiger Brokers and Futu

BlockBeats News, June 1st, according to publicly disclosed data calculations, assuming a Nvidia stock price of about $216.15, the trading cost of buying $1000 of Nvidia stock is approximately as follows: Binance is about $1 ($1% spread); Tiger Brokers Hong Kong and Futu Hong Kong have a minimum fee of about $2; Interactive Brokers (IBKR) has a fixed rate of about $1, and the tiered pricing model has an estimated cost of about $0.35.

The related calculations only include buying transaction costs and do not include costs such as exchange rate conversion, selling regulatory fees, and financing interest. Actual costs may vary due to trading methods and market conditions.

Binance announced today that platform users will be able to trade over 7000 US stocks and ETFs, with an investment threshold of only $5, supporting the purchase of stocks using stablecoins and BNB. The company also announced an upcoming plan that will allow customers to convert their held stocks into digital assets similar to cryptocurrencies. This is part of Binance's grand vision to become a "multi-asset financial super app."