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hello,
I have been trading bitcoin in a broker simulator and I am having trouble maintaining profitability and a daily basis. Are the trading fees for bitcoin comparable to forex, stocks, emini, etc? I am using Bingx right now and each trade is costing about $22.50. Is this normal?
thx
I appreciate the link. It's helpful to know the base fee for ninja trader but I feel my question hasn't been answered. I'd like to know how the trading fees in bitcoin trading compare to other instruments like stock, indices, options, etc. I've been using BingX to trade Bitcoin and a trade with 5x leverage cost me 22.50. Is this high?
I appreciate the link. It's helpful to know the base fee for ninja trader but I feel my question hasn't been answered. I'd like to know how the trading fees in bitcoin trading compare to other instruments like stock, indices, options, etc. I've been using BingX to trade Bitcoin and a trade with 5x leverage cost me 22.50. Is this high?
1. If 22.5 is high or not can't be answered unless you provide the volume that you are trading.
Or you can just go to 'fees' section of bingx and see what percentage is their fees
2. On an average the trading fees on bitcoin (and other cryptos) is higher than forex/stocks etc..
I think one of the reasons for this is that cryptos are highly volatile so traders don't trade high volume, so exchanges charge a higher trading fees to compensate for that(this reason is completely my speculation)
You'd need to checkout top 5 or so exchanges (can get exchanges' various metrix on coinmarketcap) and see which one is cheaper.
Thank you Shubh Pach for the information. The trading fee of $22.50 is attached to a trade of 10,000 with 5x leverage.
Thank you Shubh Pach for the information. The trading fee of $22.50 is attached to a trade of 10,000 with 5x leverage.
BingX seems to charge 0.045% trading fees
( https://support.bingx.com/hc/en-001/articles/360027240173-Fee-Schedule)
Binance charges 0.0200% (Maker fees)/0.0400% (Taker fees) ( https://www.binance.com/en/fee/futureFee)
So it seems like Bingx's fees is on par with the market Std.
On binance if you hold BNB and opt to deduct fee from your BNBs you will also get a 10% discount.
Thank you for your reply and help.
