Balanced signals always have 3 leads. Balanced signals on XLR cables are pretty simple. XLR cables can carry balanced mic or line level signals. It's "balanced" as it's a low impedance signal that's great for longer distances. But it gets around the additional interference by being able to mathematically subtract out any external interference at the receiving end.
On 1/4" cable, it'll use TIP-RING-SLEEVE cables (three leads). Your typical guitar or unbalanced 1/4" only has two leads (tip-sleeve). You might also know the tip-ring-sleeve set-up as "stereo". But I'm avoiding using that description as it just conflates unbalanced stereo signals with balanced mono signals... even though they are ran over the same connectors. (please double check your cables for impedance if you're running balance signals over them. You don't want to use a high impedance three conductor cable, especially over a longer length of cable.
Most prosumer mixers and other gear will have balanced connections on 1/4" jacks in order to save space and cost.
So yes, to run balanced audio between two devices, you need to start with 3 leads and END with 3 leads at its destination... and of course, both send and receive have to have balanced outputs and inputs. Check the manual.