[Exchanges](https://revain.org/exchanges/) › PancakeSwap

# PancakeSwap: security, fees and reviews

Decentralized exchange

## In short

- **Legal entity**: Not named in the terms; they cover the website, which gives access to an open-source protocol.
- **Fees**: Fees (V2 pools): Fixed 0.25% per swap in Exchange V2 pools (as of 31 October 2026).
- **Risks and caveats**: The terms name no operating company and no licence or registration with any regulator is disclosed; the terms are governed by Hong Kong law and disputes go to arbitration at the Hong Kong International Arbitration Centre.
- **Checked**: 31 October 2026

## Key facts

- **Type**: Decentralized exchange
- **Official site**: [pancakeswap.finance](https://pancakeswap.finance/)

Key facts checked on 31 October 2026 against official sources.

## What is PancakeSwap

PancakeSwap is a decentralized exchange: users swap tokens from their own wallet through smart contracts, without an account. It runs on several chains, including BNB Chain, Ethereum, Solana, Base, Arbitrum and Aptos.

## Good to know

- PancakeSwap's terms do not name an operating company. They cover the website, which gives access to an open-source protocol, and are governed by Hong Kong law; disputes go to arbitration at the Hong Kong International Arbitration Centre. [↗](https://pancakeswap.finance/terms-of-service)
- Non-custodial: trades are made from the user's own wallet; PancakeSwap does not hold funds. [↗](https://docs.pancakeswap.finance/welcome-to-pancakeswap/readme)
- No registration; a non-custodial wallet is required. [↗](https://pancakeswap.finance/terms-of-service)

## Services

| Parameter | Details |
|---|---|
| Token swaps | Token swaps from the user's own wallet through smart contracts, on several chains including BNB Chain, Ethereum, Solana, Base, Arbitrum and Aptos. |

## Security and audits

- Smart contracts are open source; the docs list audit reports by PeckShield, SlowMist, BlockSec, Cyfrin, HashDit and others (2022-2026), linked from the auditors' or PancakeSwap's GitHub.
- PancakeSwap says it uses multisig and time-locks for its contracts.

## Fees

| Parameter | Details |
|---|---|
| Fees (V2 pools) | Fixed 0.25% per swap in Exchange V2 pools (as of 31 October 2026). |
| Fees (V3 pools) | Four fee tiers in Exchange V3 pools: 0.01%, 0.05%, 0.25% and 1% (as of 31 October 2026). |
| Fee split (V2) | Of the 0.25% V2 fee, 0.17% goes to liquidity providers, 0.0225% to the treasury, 0.0575% to CAKE buyback and burn. |

## Who can use it

- Verification: No registration; a non-custodial wallet is required.
- Users from jurisdictions under comprehensive US sanctions may not use the website.

## History

| Date | Event |
|---|---|
| 28 February 2023 | Terms of service last modified. |

## Risks and caveats

- The terms name no operating company and no licence or registration with any regulator is disclosed; the terms are governed by Hong Kong law and disputes go to arbitration at the Hong Kong International Arbitration Centre.
- PancakeSwap does not hold user funds: using the website requires the user's own non-custodial wallet software.

## About the company

- **Legal entity**: Not named in the terms; they cover the website, which gives access to an open-source protocol.
- **Governing law**: Website terms are governed by Hong Kong law; disputes go to arbitration at the Hong Kong International Arbitration Centre.

## Official links

- Website: [pancakeswap.finance](https://pancakeswap.finance/)
- Documentation: [docs.pancakeswap.finance/welcome-to-pancakeswap/readme](https://docs.pancakeswap.finance/welcome-to-pancakeswap/readme)
- Fees: [docs.pancakeswap.finance/trade/pancakeswap-exchange/trade](https://docs.pancakeswap.finance/trade/pancakeswap-exchange/trade)
- Audits: [docs.pancakeswap.finance/welcome-to-pancakeswap/audits](https://docs.pancakeswap.finance/welcome-to-pancakeswap/audits)
- Terms of service: [pancakeswap.finance/terms-of-service](https://pancakeswap.finance/terms-of-service)

## Questions and answers

**Is PancakeSwap custodial?**

No. Trades run from the user's own non-custodial wallet; PancakeSwap does not hold user funds and needs no account.

**What are PancakeSwap's fees?**

Exchange V2 pools charge a fixed 0.25% per swap; Exchange V3 pools use fee tiers of 0.01%, 0.05%, 0.25% and 1% (as of 31 October 2026).

**Who operates PancakeSwap?**

Its terms do not name a company. They cover the website, which gives access to an open-source protocol, and are governed by Hong Kong law.

## Sources

- [PancakeSwap docs: Welcome to PancakeSwap](https://docs.pancakeswap.finance/welcome-to-pancakeswap/readme)
- [PancakeSwap docs: Trade (fees)](https://docs.pancakeswap.finance/trade/pancakeswap-exchange/trade)
- [PancakeSwap docs: Audits](https://docs.pancakeswap.finance/welcome-to-pancakeswap/audits)
- [PancakeSwap: Terms of service](https://pancakeswap.finance/terms-of-service)

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Page updated: 2026-10-31

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Source: https://revain.org/exchanges/pancakeswap/