Is Trading Costing Us More Than We Think? - page 4.

Silberman

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Quote from: MarvieJ on November 28, 2024, 05:08:04 AM

A while back, I took a hard look at how much I was spending on trading fees. Futures, spot, perpetuals, it didn’t matter. The total hit me like a punch to the gut. For every trade I carefully planned, a chunk of my profit was quietly eaten away. And the more I traded, the worse it got.

Don’t get me wrong, I’ve had my wins. There’s nothing like the thrill of catching a perfect market move. But when I looked closer, I realized the fees were taking a bigger piece of the pie than I’d like to admit. It got me wondering, why don’t more platforms offer something meaningful to offset these costs?

Sure, I’ve heard about discounts and bonuses here and there, but they often feel temporary or hard to access. What if there was a way to consistently cut fees or even get rewarded for trading? Wouldn’t that make the whole game more sustainable, especially for smaller traders like me trying to scale up?

I’ve heard rumors of platforms offering permanent rebates or incentives tied to certain apps, but I haven’t looked too deeply yet. What about you? Have you come across any tools or events that actually help with fees or rewards? I’d love to hear what’s working

Exchanges live out of those fees, so no matter what you do you will have to deal with them and there are various ways to do so, one of them is simply to reduce the number of trades that you make, the second is to increase the capital used on each trade so it is easier for you to offset those fees, now it seems you are realizing one of the most important truths of trading, minimizing the fees you have to pay is critical, as if you do not then even if you had a good strategy you will lose money, and by the way, you still forget the highest fees you are supposed to pay, which is the taxation the government charges you, so things are even worse than what you think.

Findingnemo

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Quote from: EL MOHA on November 28, 2024, 04:11:42 PM

Quote from: Findingnemo on November 28, 2024, 01:26:48 PM

IMO, trading fees doesn't take much from the profits while the withdrawal fees does.

But trading fees can become a burden for intra day traders who keeps doing multiple trades all day long which will keep taking a fraction from the total trade amount, let's say if it's 0.1% and with 10 trades 1% of your capital will be gone which is why it's important to choose where the fees are less depending on our trading frequency.

This fees still do not count that much as long as long as you’re winning, imagine the daily trader who spends that 1% on trades in a day, if his trades has like 7 wins he would have very well cover a lot and the fee will be negligible to him. Also there is something some platforms do which is reduce fees for those who uses their platform to trade more or have more trading volume.

As for spot and futures I notice trades are actually less fee cost effective when the trade is a limit order trade, market order charges more. But overall one needs to find the exchange with Lower fees although sadly it is mostly centralized exchanges

First of all, it's not win but profits.

If someone has to pay 1% fees for their trades then it's better don't trade at all and the 1% may looks negligible but it's not if we do the math. Let's say trading of 100 dollars and the fee is 1% means 1 dollar will be deducted instantly irrespective of profit or loss and now assuming you made 5% profit in that trade which means you are effectively paying 20% of what you made as just fees and this is only if you made profits but in case of loss the things will be worse.

Plaguedeath

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And don't forget you need to pay tax for every profit you made.

In order to earn in trading, you need to make a lot profit that beat the trading fees and tax in your country.

It's why if you can't earn a lot of money in trading, it's better for you to become investors instead of spent a lot effort and time when you didn't get a good results.

TheUltraElite

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So anyway, I applied as a merit source :)

Trading fees will haunt you throughout your trading career.

Often liquidation fees in futures and all will be draining out balances before you know it. That is why I suggest only spot trading over any other type of trading.

You will rarely find rebates in spot, because the exchange has very little to get back from that order. Non-spot trading are all similar to gambling and that is where they make the chunk of money.

justdimin

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Quote from: MarvieJ on November 28, 2024, 05:08:04 AM

platforms offering permanent rebates or incentives tied to certain apps, but I haven’t looked too deeply yet. What about you? Have you come across any tools or events that actually help with fees or rewards? I’d love to hear what’s working

From my exchange I do get rebate coupons for both spot and futures trading but I do get frequently up to $100 rebate for derivative trading and for spot trading very rarely. The other method, I am aware of is, holding or staking exchange tokens to enjoy discounts on every trade; I remember binance first introduced this and right now almost all the exchanges are following this.

Personally I tried staking exchange tokens for discounts in fees but my conclusion is, the depreciation I faced with those exchange tokens must be massively higher than what I would have paid in fees for my transactions. First I thought this could be a temporary set back in values of exchange token but continuous regulation requirement from governments and hacking incidents are leading exchange tokens to go down in value over time.

shinratensei_

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I've noticed this as well, the higher leverage the higher fee cost but you can minimize by holding exchange token on several exchange that gives benefit to their own token holder but I just think that sometime the cost is too high for no reason at all, I used bybit for future trade and many time the fee eat up significant chunk of my profit which I otherwise want to keep, but because the fee is high, I just gotta learn to move on and accept that their leverage feature comes at high cost. I guess same thing happened to other exchange like binance and so on just small difference between fee but it matters a lot for us the small shrimp trying to trade on futures.

same thing with spot, if we ordered on market price the fee usually become obvious.

crwth

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I believe this would matter so much if you are trading such big volumes and then amplifying the amount of fees that you have, which would hurt your additional profits so that you can use them for more trading. Well, I guess it's just a matter of doing limit orders to minimize the fees and also accruing the exchange's coin (if it has one) for the possibility of having discounts and privileges on your exchange.

MarvieJ

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Quote from: Ndabagi01 on November 28, 2024, 01:00:27 PM

Quote from: MarvieJ on November 28, 2024, 05:08:04 AM

Sure, I’ve heard about discounts and bonuses here and there, but they often feel temporary or hard to access. What if there was a way to consistently cut fees or even get rewarded for trading? Wouldn’t that make the whole game more sustainable, especially for smaller traders like me trying to scale up?

I’ve heard rumors of platforms offering permanent rebates or incentives tied to certain apps, but I haven’t looked too deeply yet. What about you? Have you come across any tools or events that actually help with fees or rewards? I’d love to hear what’s working

How much could those fees cost for every trade you take that makes it matter that much? I guess they don’t cost a much until you decide to accumulate them altogether to see how much you’ve lost to trading fees. To be honest, they shouldn't matter that much as long as you’re getting your big wins at trading, they’ll always cover up for that. When these fees are slashed or taken away, it’ll make them to have less income out of their total earnings calculated to be gotten from each traders trade taken.

I am not really interested in looking out for platforms that proffer little more discount to trading fees, most of them are on the same tangle level of fees. What matters most is how efficient trading on those platforms can be to me. Trading is very much interesting and a lot more happier when you’ve understood and winning big in them, when it does, the fees may never have you to think about looking for a discount on them.

I get your point, if you’re winning big, the fees don’t really feel like much. But here’s the thing: it’s not just about those occasional wins. Over time, especially for active traders or those starting out, those fees add up. It’s easy to ignore them when you’re focused on the next big trade, but they can eat into profits more than we realize. If platforms can lower fees or offer better deals, it gives us traders more room to work with. Trading efficiently is key, but why not make it easier on yourself by not paying unnecessary fees? Less fee pressure means you can focus more on the trading and less on the cost of getting in and out of positions.

MarvieJ

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Quote from: EL MOHA on November 28, 2024, 04:11:42 PM

Quote from: Findingnemo on November 28, 2024, 01:26:48 PM

IMO, trading fees doesn't take much from the profits while the withdrawal fees does.

But trading fees can become a burden for intra day traders who keeps doing multiple trades all day long which will keep taking a fraction from the total trade amount, let's say if it's 0.1% and with 10 trades 1% of your capital will be gone which is why it's important to choose where the fees are less depending on our trading frequency.

This fees still do not count that much as long as long as you’re winning, imagine the daily trader who spends that 1% on trades in a day, if his trades has like 7 wins he would have very well cover a lot and the fee will be negligible to him. Also there is something some platforms do which is reduce fees for those who uses their platform to trade more or have more trading volume.

As for spot and futures I notice trades are actually less fee cost effective when the trade is a limit order trade, market order charges more. But overall one needs to find the exchange with Lower fees although sadly it is mostly centralized exchanges

I get what you’re saying, and you’re right. if you’re consistently winning, the fees might not feel like a big deal. But for those of us who have to grind through some losses or trade with smaller volumes, those fees can add up quickly. I’m also all for platforms rewarding higher volume traders, reducing fees for those putting in the work makes sense. As for limit vs. market orders, I agree, limit orders tend to be more fee-friendly, but not all of us have the luxury to wait for the perfect entry. Ultimately, it’s about finding a platform that balances fees, volume, and rewards. Centralized exchanges might be the go-to for now, but hopefully, we’ll see more fee-friendly options popping up across the board.

Ziskinberg

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Quote from: FortuneFollower on November 28, 2024, 07:27:36 AM

Quote from: Ziskinberg on November 28, 2024, 05:30:00 AM

I don't use a lot of sites when it comes to trading, I use Binance,.. one thing I could recommend is this.

https://www.bitdegree.org/crypto/tutorials/binance-fees

Quote

For example, by holding a specific amount of BNB, you can unlock up to a 25% discount on Binance maker-taker fees—a handy perk for frequent traders.

You'll get discount when using BNB for your trading pairs, that's already big. However, if you really want to enjoy no trading fees, you'll need to find the right timing and wait for promos like zero trading fees although very rate... I think this is also available on other exchanges, just try to explore.

Never thought about that, sounds like a great initiative.
I mainly do stuff on OKX due to how robust Binance can be sometimes, but I will keep that fact in mind.
Much appreciated!
Though I don't pay this much attention to the fees, it's great to know there are ways out of that too.

You're welcome! That small percentage might seem tiny if you're trading small amounts, but as your trades grow, you'll really notice the impact of those discounts. It adds up and helps maximize your profits. Just think about Binance, they're raking in around $10 million daily from trading fees. That’s a massive amount.

But if we can grab even a small drop of that in our favor through discounts and promos, why not? It’s good to stay aware of these opportunities as they might seem minor, but they can make a big difference over time.

EL MOHA

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Quote from: Findingnemo on November 28, 2024, 01:26:48 PM

IMO, trading fees doesn't take much from the profits while the withdrawal fees does.

But trading fees can become a burden for intra day traders who keeps doing multiple trades all day long which will keep taking a fraction from the total trade amount, let's say if it's 0.1% and with 10 trades 1% of your capital will be gone which is why it's important to choose where the fees are less depending on our trading frequency.

This fees still do not count that much as long as long as you’re winning, imagine the daily trader who spends that 1% on trades in a day, if his trades has like 7 wins he would have very well cover a lot and the fee will be negligible to him. Also there is something some platforms do which is reduce fees for those who uses their platform to trade more or have more trading volume.

As for spot and futures I notice trades are actually less fee cost effective when the trade is a limit order trade, market order charges more. But overall one needs to find the exchange with Lower fees although sadly it is mostly centralized exchanges

yhiaali3

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For me, I don’t care much about fees as long as I’m making profit from my trades, but in the long run you’ll find yourself spending more and more fees that should have been part of your profit.

All centralized and decentralized exchanges have fees, no exchange will operate without fees because that’s what keeps them going. But some of them offer some discounts due to certain events or you can get a discount if you hold the exchange token like BWB on Bitget exchange, where you get a discount on fees if you hold this token.

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I use OKX and bitget. OKX because some projects I’m farming, DEMANDS it. But if it’s just trading and making personal transactions I use bitget. They’ve got cheaper fees and there’s almost always some event. I’ve got a small portfolio and every single penny matters to me (I’m a cheapskate)

Hamza2424

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Hmm for sure there are some annoying fees in the Spot market and in the future too but I'm not familiar as I have no recent experience with the future market, But in my view, it is not too much so we cant afford even at any amount of profit. Fees are quite negligible there in spot trades.

Just need a decent platform and in my vies most of their 1 platforms are good affordable at least according to my experience.

Oshosondy

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Quote from: MarvieJ on November 28, 2024, 05:08:04 AM

A while back, I took a hard look at how much I was spending on trading fees. Futures, spot, perpetuals, it didn’t matter. The total hit me like a punch to the gut. For every trade I carefully planned, a chunk of my profit was quietly eaten away. And the more I traded, the worse it got.

MEXC has just increased their spot trading fee to 0.05% for market makers and takers. But their future trading fee still remain as 0.02% for takers while 0% for makers. I prefer the exchange if I want to trade futures. You can even set the close position order TP with limit order so that no fee would be deducted if the order is filled.

Findingnemo

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IMO, trading fees doesn't take much from the profits while the withdrawal fees does.

But trading fees can become a burden for intra day traders who keeps doing multiple trades all day long which will keep taking a fraction from the total trade amount, let's say if it's 0.1% and with 10 trades 1% of your capital will be gone which is why it's important to choose where the fees are less depending on our trading frequency.

Z_MBFM

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Quote from: freedomgo on November 28, 2024, 06:32:07 AM

I think what you need to focus on mastering is your trading skills if you want to succeed. There are plenty of successful day traders out there, and they don’t complain about trading fees , that’s just normal since exchanges also need to make a profit. If you’re looking for promos, you might get some discounts, but it’ll limit your trading activities because you’ll end up timing everything, like a gambler chasing bonuses, if you know what I mean.

So don’t stress about it. The fees are very cheap, less than 1%, and it’s not really a big deal since, during a bullish market, prices can sometimes increase by 100% to even 1,000%.

When one can research the market very well and analyze a token and trade it profitably then trading fees do not matter for him. To do trading you must acquire knowledge on various subjects. Exchangers charge a very small amount as trading fees but also provide many trading vouchers through which trading can be done without any fees. So I don't think any trader cares too much about trading fees. When you trade more, you will profit more and you can lose at the same time. it is normal

Ndabagi01

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Quote from: MarvieJ on November 28, 2024, 05:08:04 AM

Sure, I’ve heard about discounts and bonuses here and there, but they often feel temporary or hard to access. What if there was a way to consistently cut fees or even get rewarded for trading? Wouldn’t that make the whole game more sustainable, especially for smaller traders like me trying to scale up?

I’ve heard rumors of platforms offering permanent rebates or incentives tied to certain apps, but I haven’t looked too deeply yet. What about you? Have you come across any tools or events that actually help with fees or rewards? I’d love to hear what’s working

How much could those fees cost for every trade you take that makes it matter that much? I guess they don’t cost a much until you decide to accumulate them altogether to see how much you’ve lost to trading fees. To be honest, they shouldn't matter that much as long as you’re getting your big wins at trading, they’ll always cover up for that. When these fees are slashed or taken away, it’ll make them to have less income out of their total earnings calculated to be gotten from each traders trade taken.

I am not really interested in looking out for platforms that proffer little more discount to trading fees, most of them are on the same tangle level of fees. What matters most is how efficient trading on those platforms can be to me. Trading is very much interesting and a lot more happier when you’ve understood and winning big in them, when it does, the fees may never have you to think about looking for a discount on them.

betswift

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Quote from: Wexnident on November 28, 2024, 11:35:06 AM

Quote from: MarvieJ on November 28, 2024, 05:08:04 AM

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Price of comfort for having a platform. Or not even comfort really? Just the basic to even be able to trade in the first place. They're a business at the end of the day, so they still gotta live off of their users. But if the fees are indeed that high maybe try to find another platform to trade in? Pretty sure there's a basic metric you'd use to judge fees and personally I've never had that big of an issue with where I'm trading with right now.

And no, bonuses and discounts are just that, bonuses. I don't think trading platforms need to add anything to make it more sustainable, it already is sustainable.

As it was said about Binance and others - there are possibilities to get the fees lower on these platforms, but I do think you are right, if you use something and it's centralized - the service has its price.
However, I never calculated how much I got from the fees if I didn't spend a dime on them. Partially because I don't buy coins so often.

Wexnident

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Quote from: MarvieJ on November 28, 2024, 05:08:04 AM

~

Price of comfort for having a platform. Or not even comfort really? Just the basic to even be able to trade in the first place. They're a business at the end of the day, so they still gotta live off of their users. But if the fees are indeed that high maybe try to find another platform to trade in? Pretty sure there's a basic metric you'd use to judge fees and personally I've never had that big of an issue with where I'm trading with right now.

And no, bonuses and discounts are just that, bonuses. I don't think trading platforms need to add anything to make it more sustainable, it already is sustainable.

Topic: Is Trading Costing Us More Than We Think? - page 4. (Read 1051 times)