Introduction: In this breakdown, we investigate Binance's Trading Fees structure in detail. Keep reading and get a comprehensive understanding of all fees, including exchange, trading, spot & futures, deposit, and withdrawal fees. Now let's find out how competitive Binance's trading fees really are!
+350 cryptocurrencies
0.1.% Spot Fees & 125X Leverage
Spot, Futures, Perps, Margin
Cheap Deposits/Withdrawals
1780 Cryptos & Deep Liquidity
Spot/Perps/Copy Trading
Low Fees & 200X Leverage
KYC Not Required
Binance is one of the largest and most popular cryptocurrency trading platforms and was founded in 2017 by Changpeng Zhao. The exchange is offering it's products and services in over 180 countries around the world and have grown to a user base of over 120 million registered users.
Binance provides a wide range of services including spot, futures, options and perpetual trading and offers access to over 350 cryptocurrencies.
A cryptocurrency exchange like Binance has a diverse and intricate fee structure which includes different maker and taker fees for spot, futures, options and margin trading.
Besides trading fees, it's also important to consider deposit and withdrawal fees, which reflect the costs of transferring funds to and from the exchange.
Now with this basic framework in place, let's continue to break down the specific fees that Binance charges across these categories!
For those that are interested to trade futures on Binance, you'll be happy to know that these fees are quite competitive overall.
For USD-M futures trading, Binance charges a maker fee of 0.02% for makers and 0.04% for takers. Those trading with BNB will see a further 10% reduction in fees and for those that trade above $15,000,000 per month or hold above 25 BNB tokens, they will see additional reductions.
For those trading COIN-M futures, the futures fees start at 0.01% for makers and 0.05% for takers. And once again, the same reduction in futures fees applies to those who trade above $15 million per month or hold sufficient number of BNB tokens.
And if you are unsure about the difference between USD-M futures and COIN-M futures, the former are futures contracts that are margined and settled in USDT while the latter are futures contracts margined with the actual cryptocurrency.
When it comes to spot trading fees, Binance is one of the most competitive exchanges in the world. Binance charges 0.1% for both makers and takers on the exchange.
If you don't know what a maker and taker is, a maker fee is charged when someone places a limit order that is not immediately matched. A taker fee is taken when someone instantly removes liquidity from the orderbook.
The spot trading fees of Binance can further be reduced for those that trade for more than $1 million USD during a 30-day period or for those who hold more than 25 BNB tokens.
For those that wish to trade margin on Binance, the daily borrow interest rate differs significantly depending on which cryptocurrency you wish to borrow.
For example, the daily borrow rate for Solana (SOL) is 0.013% while Stargate (STG) is 0.079%. Considering Binance offers margin trading for 100s of cryptocurrencies, we will let you look at all the margin fees yourself!
At the time of writing, Binance is no longer offering it's products on the US market and as such, there are no US fees to speak of.
Binance supports deposits for over 2 fiat currencies in total and includes currencies such as EUR, AUD, GBP, SEK, DKK, PLN and many others.
The fiat deposit methods for Binance include Bank transfers via Swift, Signet, SEPA and Faster Payments (FSP) and Visa and Master Card.
In terms of deposit fees. fiat currencies deposited with Visa and Mastercard incur a card fee of 1.8% while bank transfer via SEPA come with a 1 EUR fee.
Binance offers multiple methods for people to withdraw their fiat currencies. USD can be withdrawn via SWIFT, EUR via SEPA and GBP via Faster Payments (FSP).
Binance charges a 1.8% withdrawal fee for fiat withdrawals with Visa and MasterCard. 1 EUR withdrawal fee with SEPA. Free bankwithdrawals with many other fiat currencies.
For those that wish to withdraw cryptocurrencies from Binance exchange, you will have to pay different withdrawal fees depending on which token you are withdrawing.
In order to have an idea of the crypto withdrawal fees that Binance charges, we have outlined the fees of some well known cryptocurrencies:
Bitcoin (BTC) withdrawal fee: 0.00005 BTC
Ethereum (ETH) withdrawal fee: 0.001 ETH
Solana (SOL) withdrawal fee: 0.008 SOL
USDT (ERC-20) withdrawal fee: 5.5 USDT
Cosmos (ATOM) withdrawal fee: 0.004 ATOM
Overall, Binance offers some of the lowest withdrawal fees on the market both when it comes to fiat withdrawals and cryptocurrency withdrawals.
+350 cryptocurrencies
0.1.% Spot Fees & 125X Leverage
Spot, Futures, Perps, Margin
Cheap Deposits/Withdrawals
1780 Cryptos & Deep Liquidity
Spot/Perps/Copy Trading
Low Fees & 200X Leverage
KYC Not Required
