Binance vs. MetaTrader Brokers: Who’s Delivering the Best Results in 2025? [Market Analysis]

Market commentary

We revisited our annual venue performance analysis — and the results are in. Binance no longer dominates on execution or cost. In 2025, top-tier MetaTrader brokers like IC Markets and Pepperstone have caught up, offering FX-level uptime and pricing even for crypto. Here's why Algocrat AI now treats them all as interchangeable.

It’s no secret that at Algocrat AI, we keep a close eye not only on the markets and our systems but also on the trading venues we use.

Yet decisions can’t rest on impressions alone, so we pull live data from each venue and track how conditions change over time.

Because meaningful statistics require a decent sample size, we run this analysis roughly once a year.

We carried it out in early 2024 - just before Algocrat AI’s public launch - and repeated this recently.

Here’s a brief summary of what we found:

In our 2023-24 review (made in early 2024), Binance was the clear leader, offering the highest liquidity, best execution, and lowest overall costs of all venues we used.

Since then, two things have changed: we started working with new venues, while Binance’s market share has slipped as competitors closed the gap.

Both trends call for a fresh assessment.

How the landscape looks now:

Binance remains one of the strongest crypto exchanges, but competitors have caught up:

Forex brokers now deliver markedly better execution for crypto and virtually zero downtime, several have recorded near 100 % uptime in 2024.

Crypto pairs that once suffered sporadic outages have been upgraded to a technical standard on par with FX pairs at many brokers.

Because downtime and slippage translate into higher costs, these improvements matter.

Execution quality and cost: what was once Binance’s undisputed edge is now merely a competitive offering.

On some metrics, other brokers even outperform it

We also examined Binance’s global share of Bitcoin and Ethereum perpetual futures.

The exchange’s slice of that pie has shrunk from 65% in 2022 to 41% in 2024, a shift that aligns with what we see in live trading accounts:

So, which one is the “best” option?

There is no single winner.

IC Markets, Pepperstone, Vantage, Binance, and Exness all deliver execution quality and cost structures so close that the differences sit within statistical noise.

That’s why Algocrat AI trades across all of them and treats them as broadly interchangeable.

If you haven't seen our comparison post previously, we highly recommend revisiting it.

There, we have compared actual live results of accounts working with different venues.

And if you haven't signed up yet.. what are you waiting for?

🔗 Click here to Sign Up Now

Best,
The Algocrat AI Team

Published on May 15, 2025

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Algocrat.ai operates as a technology provider offering Software-as-a-Service (SaaS) solutions for automated trading strategies. We do not provide financial or investment advice, portfolio management, brokerage services, or act as a financial intermediary. Users retain full control over their trading accounts and funds, and all trading activities are conducted at their own discretion and risk.

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Trading digital currencies on margin has large potential rewards but also carries a high level of risk. You must be aware of the risks and be willing to accept them to invest in the digital currencies markets. Don't trade with money you can't afford to lose. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.

SIMULATED OR HYPOTHETICAL PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE THE RESULTS SHOWN IN AN ACTUAL PERFORMANCE RECORD, THESE RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, BECAUSE THESE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THESE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED OR HYPOTHETICAL TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE BEING SHOWN.

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