What are the trading fees on AscendEX exchange?

To minimize trading costs on AscendEX, traders can aim to create orders that add liquidity to the order book, known as maker orders, to benefit from reduced fees.

Nov 23, 2024 at 09:50 pm

Understanding Trading Fees on AscendEX Exchange

AscendEX, previously known as BitMax, has established itself as a prominent cryptocurrency exchange offering a comprehensive suite of trading services. To facilitate seamless trading experiences, AscendEX charges varying fees on spot, margin, perpetual, and OTC transactions. Understanding these fees is crucial for traders seeking to optimize their profitability and effectively manage their trading costs.

Spot Trading Fees

• Maker: 0.10%
• Taker: 0.15%

Spot trading fees represent the charges incurred when executing trades on the spot market, where cryptocurrencies are bought and sold instantly. AscendEX employs a maker-taker fee schedule, differentiating between users who place orders that add liquidity to the order book (makers) and those who remove liquidity (takers). Makers receive a slightly discounted fee.

Margin Trading Fees

• Interest: As low as 0.0001% per hour
• Trading Fees: Same as spot trading (see above)

Margin trading allows traders to enhance their trading potential by using borrowed funds to increase their buying power. AscendEX charges an interest rate on borrowed funds, which varies based on market conditions. Additionally, margin traders are charged the standard spot trading fees when opening and closing positions.

Perpetual Trading Fees

• Funding: Variable based on market conditions

• Trading Fees:

  • Maker: 0.025%
  • Taker: 0.075%

Perpetual contracts are financial instruments that allow traders to speculate on the future price of a cryptocurrency without the need for physical delivery. AscendEX charges a funding fee that periodically adjusts to maintain a fair market price for the perpetual contract. Similar to spot trading, trading fees are also imposed based on the maker-taker model, with makers enjoying a lower fee.

OTC Trading Fees

• Negotiable: Fees are determined based on transaction size and specific requirements

Over-the-Counter (OTC) trading is a private transaction between two parties that occurs off the exchange's order book. As such, OTC trades are not subject to standard trading fees. Instead, fees are negotiated between the traders and can vary depending on factors such as transaction size and complexity.

Additional Fees

• Deposit Fees: Free for most cryptocurrencies; varies for bank transfers and e-wallets
• Withdrawal Fees: Vary depending on the cryptocurrency and network congestion

It is important to note that AscendEX charges different fees for deposits and withdrawals, which can vary based on the cryptocurrency and payment method utilized. Traders should carefully review the exchange's fee schedule to ensure they are aware of all potential costs associated with trading on AscendEX.