How is the 0.1% fee applied?

[harveydent12]

Hello,

Just trying to understand how the fees work. 

I am trying to buy ~$25 worth of DENT with ETH.  Here's what I'm seeing:

• 1 DENT is about 1e-6 ETH
• I've got 0.076e ETH in the account
• This means I can buy about 76,000 DENT

Now, the fee I see is 0.1%, seems reasonable.  This would be reasonable if the 0.1% was of the PURCHASE PRICE, or in other words $25 * 0.1% = 2.5 cents.

Instead what I am seeing is the 0.1% fee is based on the something else...   I am purchasing 76,000 DENT ($25 dollars worth, or 0.076ETH), and the transaction fee is 0.076ETH (25$!)

So what is going on here?  What is the 0.1% applied to?

[TryNinja]

Which exchange are you using exactly? This doesn't seems right.

A real situation would be, for example:

You want to trade 0.05 BTC to 500 XCOIN. If the market requires you to pay a 0.1% fee for each trade, you will spend 0.05 BTC and receive 499.5 XCOIN (the initial 500 less the 0.1% fee, which is equal to 0.5)

[harveydent12]

Sorry, I meant to post this in the hitbc exchange thread and couldn't delete this post.

I am using hitbc.