Don't trade on binance or okex if you are just a small trader

[LUCKMCFLY]

Several people have already talked about it, but sometimes I think one thing, if a trader is clear about trading on any platform, it does not mean that he will become a millionaire overnight, sometimes the alts suffer many falls because When bitcoin makes a major move, the highs suffer, and they bleed out even more if bitcoin takes a dip.

Due to my short experience as a trader, I have noticed that it is best to trade on these platforms in the long term, no matter what it falls, it is left there as long as necessary until it can recover the price. However Binance has good fees for withdrawal of funds.

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[passwordnow]

It's normal to know that there are fees when you are trading in an exchange. Although there could be some traders that are not aware of it and don't notice the deduction of their total trade that they've conducted. Don't be discouraged if you have a little capital when you trade. But if you know that you can grow it on those platforms or whichever exchange you are comfortable with, just always be aware of the fees and don't complain if you do ever see that there's a deduction that you haven't noticed.

[EdenHazard]

Nonsense, the taker and maker fees are not high on Binance compared to Bitstamp or Bitfinex. For each trade, you pay the commission to the middleman for meeting the order requirements as a taker or maker order owner. The 0.05% fee promotions are temporary if you have seen lower fees on advertisements, don't give advice if you have no idea how the order book works.

I don't agree as well. Even small traders can use Binance, their taker and maker fees are very competitive than other exchanges. And their withdrawal fees is lower than most exchanges. I don't think binance is built for large traders only. The OP is seeing it wrong, in my opinion. Every exchange is open to all traders, whether your are a small timer or big timer. It depends on your necessity for every situation. This is the good thing with crypto exchanges, there's no discrimination on their users.

I would rather say , don't trade future on binance or okex if you are just a small trader , that's fit to them.

The maker and taker fee are the main problem for op which it's doesn't makes any sense. He might doesn't aware that these fees are very reasonable not an expensive one that makes the small trader have less privileges to get higher fee or something lol , what's on your mind op. What's your problem? 

[Quidat]

Day trading is indeed expensive because of the fees so make sure you make profit over the fees and this is happening on every exchanges not just on the top exchange. Binance is build of good exchange and good security so as a small time trader, I have a peace of mind on Binance and I know my profit can cover that fees so not a big deal at all to me.

As long you do know on how to play with the price movement or fluctuations then this wont really be an issue after all yet fees arent really that too big for you to
bother off even if you are an active trader as long you do know on what youre doing then you can go ahead without doubting with that small capital of yours.
0.01 BTC isnt really that small to trade on actually yet takers or makers fees arent really that high but of course you should know on how to deal with things
or else then those capital of yours would really be just eaten by fees.

So play smart and wise as always be as a trader.

[XZERO1]

Don't trade on binance or okex if you are just a small trader having as little as 0.01 BTC and trading alts as a short term trading, you will only lose because then you will be just paying to binance or okex as binance and okex both deduct fee from your altcoins along with bitcoins (maker and taker fee). However if you are having small coins with big fluctuations then you may be in profit but trading coins like ltc, ethereum are not profitable anymore with bitcoin, there could be little profit with just USDT trading pair. Furthermore, binance or okex are not built for small traders so small traders are not preferred there.

That is the case for almost all crypto exchanges, smaller traders usually pay like 0.1% for every trade they make but as the trading volume increases the fees will decrease at the same time and I personally don't see any problem with that as long as the fees are not that high like that 0.1% that I mentioned, I mean they should give high volume traders some kind of an incentive to use their exchange so that they can have higher trading volume and therefore more liquidity on their trading pairs.

I know for a fact that some exchanges even have some sort of market makers program that even reward those who provide liquidity for some of their trading pairs and that's completely okay in my honest opinion and it's way better than the alternative which is showing and having fake volume which is both annoying and misleading.