Don't trade on binance or okex if you are just a small trader - page 2.

Tytanowy Janusz

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Quote from: DashingAgent on November 15, 2020, 05:19:24 AM

No. It is not equal for small traders since small traders pay more, you can check by investing a little as BTC0.01 in some alt coins like ltc, eth, and try to make a 15 min trade, or you will have to wait more like you have to wait altleast 4 hours if the coin is gaining liquidity by traders.

Thats nonesense. You can do instant in and out you will pay 2x fee + spread - the same like on every other exchange (but spread on smaller exchanges will be higher). This applies to both large and small investors. You need to know how order book works, how to create order, what is fee, what is spread, what is market order, what is limit order and then come here and make posts based on facts not guesswork. Put some data into OP. Prof something. Not only "Don't do it"

DashingAgent

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So many books, so little time

No. It is not equal for small traders since small traders pay more, you can check by investing a little as BTC0.01 in some alt coins like ltc, eth, and try to make a 15 min trade, or you will have to wait more like you have to wait altleast 4 hours if the coin is gaining liquidity by traders.

Quote from: Tytanowy Janusz on November 15, 2020, 05:05:51 AM

Fee is a % of volume generated by investor/trader. So it hits small traders and big trades equally.

Smaller exchanges are even worse because despite the trading fees (that are very low on binance) hits you with huge spreads most often couple times bigger than trading fees. After my few years experience on stocks and crypto ... always choose exchange with the highest trading volume and reputation (to be sure that trading volume is not faked). This will give you the best trading experience. No matter how big your portfolio is.

Tytanowy Janusz

legendary

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Merit: 1622

Fee is a % of volume generated by investor/trader. So it hits small traders and big trades equally.

Smaller exchanges are even worse because despite the trading fees (that are very low on binance) hits you with huge spreads most often couple times bigger than trading fees. After my few years experience on stocks and crypto ... always choose exchange with the highest trading volume and reputation (to be sure that trading volume is not faked). This will give you the best trading experience. No matter how big your portfolio is.

GreatArkansas

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I don't think the term "Don't trade" is kinda not appropriate, maybe we can say "avoid" if the fee is the problem on Binance or Okex.
I already tried Binance for trading, and they have this feature that if you own some of their BNB tokens, you can get some discounts on trading fees.
Also, if you are a profitable trader, for sure these fees may not affect your balance at all.

bitbollo

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Nec Recisa Recedit

this can happens with any serious exchange, and in any case the amount that you can earn is very low.
make trading with low balance include fees as important expenses to be taken in account each time.
you're forced to withdraw in altcoin at the end since just a withdrawal could be around 30% of your total start balance!
but trading in second order exchange, or worst, trade pump-dump tokens, just for the sake of a small ROI isn't really worth any strategy with such low amount.

DashingAgent

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So many books, so little time

Don't trade on binance or okex if you are just a small trader

Don't trade on binance or okex if you are just a small trader having as little as 0.01 BTC and trading alts as a short term trading, you will only lose because then you will be just paying to binance or okex as binance and okex both deduct fee from your altcoins along with bitcoins (maker and taker fee). However if you are having small coins with big fluctuations then you may be in profit but trading coins like ltc, ethereum are not profitable anymore with bitcoin, there could be little profit with just USDT trading pair. Furthermore, binance or okex are not built for small traders so small traders are not preferred there.

Topic: Don't trade on binance or okex if you are just a small trader - page 2. (Read 285 times)