Place/Date: - August 24th, 2022 at 8:25 am UTC · 3 min read
Every trader’s greatest nightmare is fees. They are charged on every trade, no matter how big or small, and they are the main source of income for exchanges. Both centralized and decentralized (DEX) exchanges impose trading fees, and the problems are made worse by high gas fees for DEX trades. Centralized exchanges fare better in this regard by charging a fixed percentage fee.
Market makers generally face lower trading fees than takers to incentivize liquidity in order books. Without makers, takers have no market prices to take. Different CEXs ask for different trading fees, ranging from 0 to 1%. Choosing an exchange with low trading fees is important to ensure maximum gains and minimize losses.
These numbers contrast with other trading platforms that charge 5-10 times the fees. If a few decimal points don’t seem like a lot for you to bother, let’s see the effects through an example.
Because the compounding savings from each trade snowball into bigger capital and profits in each subsequent trade, every penny saved when it comes to trading costs is quite literally a penny earned.
|Exchange||Maker Fees||Taker Fees|
It’s important never to disregard the value of even a single penny saved. Phemex lets you get everything out of your trades and maximize your profits. For a limited time, Phemex is offering the Fee Slasher event in which users can enjoy the updated fee structure and also get a 50% rebate on all contract trading fees. All this, topped with instantaneous trades through its lightweight trading engine, state-of-the-art security measures, and ever-available customer services, makes Phemex one of the best platforms to trade digital assets.
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