Fees on Binance
Binance’s fees are low compared to competing platforms, and fees vary by user level. The system provides 10 levels for traders, on which the size of the site fees depends. The level in the loyalty program is determined by the client’s trading volume over the past 30 days.
The following values are set for spot trading:
Level in the VIP program Turnover, million BUSD For makers (orders at a market price), % For takers (orders at a fixed price), %
0 to 1 0.1%
1 1 to 5 0.09 0.1
2 from 5 to 20 0.08 0.1
3 from 20 to 120 0.07 0.1
4 from 120 to 200 0.07 0.09
5 from 200 to 500 0.06 0.08
6 from 500 to 1000 0.05 0.07
7 from 1000 to 2500 0.04 0.06
8 from 2500 to 5000 0.03 0.05
9 from 5000 and more 0.02 0.04
Exchange interest on margin borrowing, as well as on futures trading, cross-collateral, liquidity swaps and trades depends on the currency used. The size of some of them is also directly determined by the level of the user in the loyalty program.
Binance Mobile App (Download)
An application has been developed for smartphones and tablets, available for Android and iOS. You can download it for iPhone from the App Store. You can download the Binance app for Android devices both from the Play Market and from the exchange website as an APK file. The program offers full access to the functionality of the platform; the set of trading tools does not differ from that of the web version.
Spot and margin trading on the Binance exchange
Spot and margin trading on Binance are the main options available to traders. The difference between them is that for spots, the client uses only personal funds stored in the wallet on the main account balance. In margin trades, a trader can use leveraged assets to increase potential profits.
In the spot trades menu, users have access to a large selection of tools that allow them to analyze the market and take part in trading. In particular, the functionality of the exchange provides for displaying:
- active ads;
- trading volumes of the selected pair per day;
- sell order books;
- buy order books;
- trading chart in the form of Japanese candlesticks and market depth indicators;
- selection of the type of trades;
- selection of the type of transactions;
- menu for buying and selling cryptocurrencies;
- current market indicators for trading pairs;
- list of the last completed transactions;
- important events in the selected market;
- trader’s open orders;
- transaction history for the last 24 hours.
In addition to trading tools, there are options for contacting support right in the spot trading menu. This allows you to quickly get help or find an answer to a question of interest, without being distracted from observing the market and transactions. The view of the trading menu can be switched: the exchange website provides a simplified display format intended for inexperienced clients, and an extended one for experienced traders.
Margin trading on Binance allows you to engage in crypto-currency trading with a quick attraction of borrowed funds for this purpose. When choosing a section, customers have two modes available: a loan mode, with the ability to borrow and use assets, and a repayment mode, in which you can repay the debt when the funds are no longer required. To start trading, funds are transferred from the main account, which is available in the “Margin Wallet” section.
In the loan mode of margin trading, the system itself calculates the amount available for transactions, taking into account the funds available on the balance sheet. If there is not enough money in the client’s account to place an order, crediting is performed automatically. In the redemption mode, funds received from transactions are used to pay off debts after orders are closed.
Margin trading allows users to trade larger amounts than they have in their account. This is the main advantage of this type of trading. For example, when using a leverage of 10, you can use $10,000 in transactions, while having only $1,000 on your balance. Users have options x3, x5, and x10. Larger leverage can be used in the case of futures trading.