July 1, 2022

Trading commission and fees on Binance platform

Binance is the largest cryptocurrency exchange ever. This platform specializes in providing an excellent environment for those looking for a trading platform that is fast in executing orders,

This platform takes a large share of the cryptocurrency market due to the quality of the financial tools available on it.

Accordingly, many questions remain about how Binance makes its profits from clients, from trading on the platform, and does Binance charge fees for transactions made by clients on the platform?

All these questions will be explained to you through the following article, in which we will talk directly about the commissions of the Binance platform and how you can easily calculate the commissions of Binance.

What is the commission/fee for the Binance platform?

Binance commission is the commission charged to platform traders when buying and selling cryptocurrencies on Binance and futures contracts.

When comparing the commission imposed by the Binance platform alongside the commissions of other platforms, we find that this trading currency stands far from the rest of the platforms due to the low commissions when trading, in addition to the continuous offers provided by the platform such as trading without commission at all.

A commission is charged for trading the following instruments on the platform:

  •     Spot Trading
  •     futures trading
  •     Margin Trading

Now we will explain to you how to calculate Binance trading fees in more depth.

Binance fees for spot trading

The spot trading fees on Binance Spot Trading are the most things that every trader should understand, who is trading in large or small amounts, so that the trader knows the mechanism of making profits from trading cryptocurrencies on the Binance platform.

Without knowing the mechanism of calculating the trading fees, the trader will be surprised even if he makes winning trades that the total capital is in the negative, because he did not calculate these fees.

Also read

What are Bitcoin Exchange Traded Funds?

Spot trading or spot trading is distinguished from other trading, that you buy or sell the digital currency at the spot price of the market,

The Maker / Taker commission is deducted by the exchange when you implement this type of trading so that this is profitable for the stock exchange from your trades.

The commission schedule can be reviewed from your Binance account by going to the Binance platform commission page.

Note: If you have a large amount of BNB in ​​your Spot account, you can get a discount of up to 25% on trading when paying the commission in BNB, so we advise those who make daily trades to have BNB instead of paying the commission in USDT.

This commission varies with different trading platforms and the list of the best cryptocurrency exchanges can be reviewed to compare other platforms.

How to calculate Spot . trading commission

The equation for calculating the trading commission on Binance with the instant trading system is very easy, as the following equation can be adopted in calculating the commission.

Illustrative example:

When buying or selling Bitcoin at $30,000, in the normal account and using USDT to execute the transaction, the commission is as follows: buy $30 – sell $30, accordingly, any profit margin above $60 is net profit after commission is paid.

Cryptocurrency Trading Recommendations

When trading through services that offer cryptocurrency recommendations, you should always make sure that you check the commission on a regular basis.

Most cryptocurrency trading signal services do not include commission with the recommendation because each trader chooses a different capital than the other trader when executing trades.

How can the commission for spot trading on Binance be reduced?

The commission for spot trading on Binance can be reduced through several methods, which are mentioned on the main commissions page of the platform. The ways to reduce the commission can be shortened as follows:

  •     Upgrade the account by making a large monthly trading volume
  •     Keeping BNB in ​​bulk to help speed up account upgrade

Trading volume is the most important factor to focus on, when deciding to reduce commission, but you should pay attention, you should continue trading on a monthly basis to maintain low commissions.

Conclusion This is how the Binance commission can be calculated, especially the spot trading commission, and we will explain to you in an updated article about the rest of the commissions,

You can avoid making mistakes while calculating the commission by using the commission calculating machine available on different sites on the network.

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