Trading Fees by Exchange

Updated: Oct 29, 2020

Exchange trading fees can make a huge difference in your overall trading results. Many traders forget to account for fees and the results over time of maker/taker or a few basis points in difference between fees can drastically alter your gains.

I've been re-evaluating the crypto exchanges that I trade at, and part of that evaluation is looking at fees for some of the leading exchanges. Without further ado, here are taker/maker fees for Binance, FTX, Bybit and Bitmex.

Crypto Exchange fees

These fees assume you have a referral discount (anywhere from 5-20% depending on exchange) and for FTX/Binance, that you hold the minimum FTT/BNB for the first level of discounts (5-25%). These do not account for volume discounts as that varies drastically by user.

As you can see, if you predominantly enter/exit on a maker basis, you should probably stop trading on Binance as it's the only exchange that has maker fees. On the other hand, if you enter/exit on a taker basis, it actually has the lowest taker fees in the market.

If you're performing a mixture, Bybit offers the lowest average fee so it makes sense to do your BTC and ETH trading there. For altcoins, FTX and Binance come out pretty close to even so your split of maker/taker could really inform which exchange you're better off trading on.

What else should you be considering? Security is at the top of this list but all of these have proven reliable. Next it comes down to UI, trading pairs, and uptime. Everyone will have their preferences but personally FTX has my favorite assortment of trading pairs while Bybit seems to be the most reliable during high traffic periods.

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