Yesterday, many people asked about the US stock market models of the four major exchanges. Today, I have created a more comprehensive comparison table between mainstream platforms in the cryptocurrency industry and traditional securities firms, making it easier for everyone to understand with just one picture. I have personally gone from mainly using Hyperliquid (HYPE) in the early days, to now using Hyperliquid+Bitget+Binance platforms in parallel, and my experience is particularly evident. Core differences among major platforms one ️⃣ Binance is currently the most comprehensive user experience. It adopts a real stock ownership model and is directly connected through Alpaca brokerage, supporting real dividends, shareholder equity, and company actions. Currently covering over 7000 US stocks and ETFs, the number far exceeds other platforms. Support fractional stocks (starting from $5), App+Web dual end, full K-line and depth, with a handling fee updated to 0.05% (15000 RMB), providing the closest experience to traditional brokers. In the future, an on chain version of bStocks will be released. Especially suitable for long-term fixed investment and asset allocation users. two ️⃣ Bitget adopts a tokenization+perpetual hybrid model and collaborates with Reality and Ondo to offer over 260 popular stocks. The handling fee is also 0.05% (limited time), supporting 24/7 and high leverage, and the functions are relatively comprehensive. Many stocks that cannot be found in HYPE in the early days can be bought here, suitable for short-term and mixed gameplay. three ️⃣ Hyperliquid (HYPE) still focuses on on on chain perpetual+tokenization, with high leverage and 24/7 on chain operation experience, which is very enjoyable. However, the number of stocks is limited, mainly concentrated in popular targets, and the coverage of mid cap stocks and small ETFs is insufficient. In the early days, I used it the most and it was suitable for high volatility short-term trading. four ️⃣ Backpack is a new force that takes a mixed route of real stocks and tokenization, supports real ownership and dividends, and can be traded 24/7 on the Solana chain, covering over 1000 stocks. Its ability to bridge TradFi and DeFi is strong and worth paying attention to. Other platforms briefly: OKX (Ondo): 260+on chain tokenized stocks, 1:1 endorsement, currently 0 transaction fees (Gas only), suitable for stablecoin users. • Bybit xStocks：60-100+， Mapping mode, Solana DeFi is well compatible. Traditional securities firms (IBKR, Tiger, Futu) have the most comprehensive range of stocks, but do not support direct deposit of cryptocurrencies. The transaction fees are charged on a per share basis, and the path is relatively long. In fact, in the early days, HYPE was heavily used for low leverage perpetual trading. Later, after Bitget and Binance went online, it was obvious that many stocks that were previously not searchable could be found, especially Binance's stock quantity and ETF richness, which directly widened the gap. I am currently using three platforms in combination: HYPE mainly engages in short-term and low leverage trading; Bitget supplements popular stocks and mixed operations; Binance has become a major position, especially when it comes to fixed investment and long-term holding. Its real ownership and massive ETF advantages make it difficult for other platforms to compare. Summary suggestion: • Pursuing short-term, high leverage, 24/7 → Prioritizing HYPE and Bitget; Pursuing stock breadth, real equity, and long-term fixed investment - Binance is currently the best choice. At present, the transaction fees of Binance and Bitget are both 50000 (0.05%), which is the lowest level among several exchanges in the cryptocurrency circle. There should be room for optimization in the future as trading volume increases. Everyone can allocate multiple platforms based on their own trading style and holding period. Traditional securities firms are suitable for professional players with large funds, while cryptocurrency platforms are more convenient for crypto users to enter directly.