Bitcoin Forum

Economy => Exchanges => Topic started by: briansparks on November 04, 2018, 08:08:20 PM



Title: Who pays trading fees on exchanges ?
Post by: briansparks on November 04, 2018, 08:08:20 PM
Hi,
I want to know, who pays trading fees on exchanges like bittrex, binance ? Is it seller or buyer or both will be charged ?
When binance says that trading fees will be 0.1%, does it mean that both will be charged 0.1% fees, i.e. 0.1% fees will be charged to seller and 0.1% will be charged to buyer ?
Please advice.
Thanks


Title: Re: Who pays trading fees on exchanges ?
Post by: bitvalak on November 04, 2018, 09:14:21 PM
As far as I know, trading fees are charged to the seller or buyer who makes an instant transaction at the bid and ask price at that time. They will not be charged a transaction fee if they take the position above or below the current price, so their order will automatically be recorded on the order book with other traders.


Title: Re: Who pays trading fees on exchanges ?
Post by: Cryptoreflector_666 on November 04, 2018, 09:17:12 PM
Hi,
I want to know, who pays trading fees on exchanges like bittrex, binance ? Is it seller or buyer or both will be charged ?
When binance says that trading fees will be 0.1%, does it mean that both will be charged 0.1% fees, i.e. 0.1% fees will be charged to seller and 0.1% will be charged to buyer ?
Please advice.
Thanks

Hey. The fee is collected only from the seller. In some Korean exchanges, I have observed that the duty was collected from both the seller and the buyer, but this is only as an exception and only from the most greedy and terribly made exchanges. At the usual sites, the duty is one-sided.


Title: Re: Who pays trading fees on exchanges ?
Post by: squatz1 on November 04, 2018, 09:44:27 PM
On most exchange isn't the market maker that pays the fees but the market taker. Although some exchange like  GDAX both marker and taker pays a fee. On bittrex and binance, When you place an order (be it buy or sell) at the current market price that gets filled immediately, you are considered a taker and will pay a fee. If your order does not go through immediately, then you donít pay a fee because you're a market marker. Now if partial order get filled (you pay fee for that) and the rest of the order is placed on the order book and, when matched, is considered a maker order which you don't pay for.

This is going to be all you're going to need.

Just make sure to use the coins that are going to save you the most in fees (on Binance, you're going to be able to use the Binance Coin and save 50 percent on fees, I think that's a pretty solid deal)

So, the users.



Title: Re: Who pays trading fees on exchanges ?
Post by: perla on November 04, 2018, 09:56:47 PM
Hi,
I want to know, who pays trading fees on exchanges like bittrex, binance ? Is it seller or buyer or both will be charged ?
When binance says that trading fees will be 0.1%, does it mean that both will be charged 0.1% fees, i.e. 0.1% fees will be charged to seller and 0.1% will be charged to buyer ?
Please advice.
Thanks
I think each site have different rules about fees, but it is different between market makers or takers. Market makers have bigger fee because they do their transaction instantly and takers sometime have less fee than makers.


Title: Re: Who pays trading fees on exchanges ?
Post by: leetcoiner on November 04, 2018, 10:00:53 PM
Hi,
I want to know, who pays trading fees on exchanges like bittrex, binance ? Is it seller or buyer or both will be charged ?
When binance says that trading fees will be 0.1%, does it mean that both will be charged 0.1% fees, i.e. 0.1% fees will be charged to seller and 0.1% will be charged to buyer ?
Please advice.
Thanks

On different exchanges, this issue is regulated in different ways: one pays only the seller, and the other and the seller and the buyer (envy of the greed of developers and owners of the exchange). Options that would pay only the buyer has not yet met, although based on my extensive experience I can say that for sure and this can be found in the vast Korean trading floors.


Title: Re: Who pays trading fees on exchanges ?
Post by: buyinbtc on November 04, 2018, 10:06:34 PM
Hi,
I want to know, who pays trading fees on exchanges like bittrex, binance ? Is it seller or buyer or both will be charged ?
When binance says that trading fees will be 0.1%, does it mean that both will be charged 0.1% fees, i.e. 0.1% fees will be charged to seller and 0.1% will be charged to buyer ?
Please advice.
Thanks
On Binance website it clearly says that EACH trade carries the 0.1% fee that gets paid automatically. So yes, BOTH, the seller and the buyer will have to pay 0.1% from their traded amount. More on Binance fees can be found here: https://support.binance.com/hc/en-us/articles/115000429332-Fee-Structure-on-Binance

On Bittrex it says that ALL trades have 0.25% commission, which means that BOTH, the seller and the buyer will have to pay 0.25% from their traded amount. More on Bittrex fees can be found here: https://support.bittrex.com/hc/en-us/articles/115003684371-BITTREX-SERVICE-FEES-AND-WITHDRAWAL-LIMITATIONS

Would strongly recommend locking the thread to prevent spammers posting the same thing as your questions were answered.


Title: Re: Who pays trading fees on exchanges ?
Post by: mangsitin on November 04, 2018, 11:10:43 PM
My personal experience when I trade at the Bittrex and Binance markets when I will sell my coins, I am charged a small fee to pay for the market. So every time I make a sales transaction, there will be a fee of around 0.1% for the market revenue itself.


Title: Re: Who pays trading fees on exchanges ?
Post by: briansparks on November 04, 2018, 11:12:05 PM
Thanks a lot for replies.
I am clear on this now.