No Commission Spot Trading With Binance or Other Exchange?

Best-mary

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Quote from: david678345 on October 28, 2023, 05:16:38 PM

Quote from: Oshosondy on October 28, 2023, 04:08:53 PM

There is no commission offer on Binance. I do not notice anything like free trading fee or anything like that. Unless you use BNB for fee deduction and you will have 25% discount in fee.

For marker and takers in the spot market, the fee is 0.075% on Binance.

0% fee for USDC pair on spot trading on Bybit
0% for spot trading on MEXC.

I think bybit is not offering 0% fee anymore

I read at https://www.bybit.com/en-US/promo/global/zero-fees-spot/
Step Up Your Game
Start Small. Earn Big.
All With Zero Fees.
Campaign has ended.

other options?

I guess so, I found this exchange support free trading using coupons
https://www.bitget.com/support/articles/11678672728473-Bitget-Coupons

Aanuoluwatofunmi

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Quote from: david678345 on October 28, 2023, 03:57:26 PM

I think binance launched a promotion of No Commission Spot Trading With Binance...can you still do No Commission Trading With Binance in spot?

All these are tricks on customers to make them get more attractive measures for the use of their platform when they noticed a drop in traffic, they may only make discounted offers on using their platform coin and maybe on other promotional offers they are intending, all these are not just coming in for the first time, they are used to saying it but at the end, you will discover that nothing actually was free.

hugeblack

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It can be said that zero fees are a good marketing strategy or an excellent way for scammers to steal your money. By setting zero fees with high withdrawal fees, you will be more inclined to keep your currency inside the platform, and there they may invest it without your permission and take the profits for themselves. Therefore, although paying lower fees is a good thing, there is Important things to take into consideration.

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Quote from: Oshosondy on October 28, 2023, 04:08:53 PM

There is no commission offer on Binance. I do not notice anything like free trading fee or anything like that. Unless you use BNB for fee deduction and you will have 25% discount in fee.

For marker and takers in the spot market, the fee is 0.075% on Binance.

In my view for an average trader, these fees are nothing at least when you consider these fees in comparing mode with the DEX trading. Both bring some pros & cons it really depends on the user itself. Until it's concerned with the trading fees below 0.1% everything is bearable mostly.

Quote from: Oshosondy on October 28, 2023, 04:08:53 PM

0% fee for USDC pair on spot trading on Bybit
0% for spot trading on MEXC.

Hmm, Thanks buddy for mentioning it. Previously FTX was one but a big upset. I'm thinking of shifting most of my trading activities to ByBit let's see how it goes.

DVlog

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Quote from: Coin_trader on October 29, 2023, 04:15:14 AM

@OP, The only exchange that I’m using with zero % trading fee is Bybit but only pairs in USDC. The rest of the exchange already remove this kind of promo after their biggest competition FTX is already out of the business.

Ahaaa....the infamous FTX. I can still remember some of my friends being crazy about FTX for their zero withdrawal fees for ETH. They were DeFi application user so they had to buy and sell eth often and they were happy about FTX for its zero withdrawal fees for ETH.

I have been using Bybit for some times but i have noticed they are very strict about using multiple IDs. Some people from one of my local community companies freeze their accounts after they have used multiple bybit IDs to join their promotion. Actually bybit has been doing a lot of promotion recently. I think they wanted to take the place of Binance and they are also pushing their own blockchain project.

jeraldskie11

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Quote from: Oshosondy on October 28, 2023, 04:08:53 PM

There is no commission offer on Binance. I do not notice anything like free trading fee or anything like that. Unless you use BNB for fee deduction and you will have 25% discount in fee.

Well I think it's okay to use BUSD pair if you're just with spot trading. It's not preferable to use BUSD in the futures trading since the trading pairs are very limited which is not good if you're a futures trader because it takes time to see a setup in coin/token that's why it's prefer to use USDT pair.

Quote

For marker and takers in the spot market, the fee is 0.075% on Binance.

0% fee for USDC pair on spot trading on Bybit
0% for spot trading on MEXC.

You don't need to pay for a taker fee if you used their "convert" feature.

Coin_trader

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Quote from: Bitcoin_Arena on October 31, 2023, 07:50:39 PM

Quote from: Coin_trader on October 29, 2023, 04:15:14 AM

That minimal percentage is worth a lot for those high capital trader that relying on short trade. They are already happy on minimal percentage gain since their capital is too huge. For normal trader like us, surely this fee is negligible but for high volume trader this is already huge as part of their profit. They frequently trade in daily basis which makes fee painful for them especially if their target profit

Even for a retail trader like you, the fee is not negligible. Just that you don't pay attention to it. Let me simulate for you a scenario where you will see how much fees Binance will get from your profits after 150 trades, assuming you are a day trader trying to grow the account.

Conditions.

1. Starting Balance – 1000 USD
2. Take profit: 5%
3. Stop loss: 5%
4. Number of trades: 150
5. Limit order fees: 0.1%
6. Market order fees 0.1%
7. Entry Trade Order Type – Market.
8. Take Profit Order Type – Limit.
9. Stop Loss Order Type – Market.
10. Win rate percentage ~66% (For every 3 trades, you win at least 2 on average)

Results

Now, does $790 still look negligible to you?

Thanks for explanation but you should care reading the whole post rather than reading the introductory part because you are just re-echoing what I said. I’m pertaining retail traders that buy and sell Bitcoin seasonally not a day trader. Your sample breakdown is for a day trader with 150 trade using 1000USD margin. This kind of trading quantity is already equal to more than a year of trading of normal retail trader.

Do you think that kind of fee will charge that same amount on a 1000$ capital buy and sell few times? Check the bolded part on my statement please.

Bitcoin_Arena

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Quote from: Coin_trader on October 29, 2023, 04:15:14 AM

That minimal percentage is worth a lot for those high capital trader that relying on short trade. They are already happy on minimal percentage gain since their capital is too huge. For normal trader like us, surely this fee is negligible but for high volume trader this is already huge as part of their profit. They frequently trade in daily basis which makes fee painful for them especially if their target profit

Even for a retail trader like you, the fee is not negligible. Just that you don't pay attention to it. Let me simulate for you a scenario where you will see how much fees Binance will get from your profits after 150 trades, assuming you are a day trader trying to grow the account.

Conditions.

1. Starting Balance – 1000 USD
2. Take profit: 5%
3. Stop loss: 5%
4. Number of trades: 150
5. Limit order fees: 0.1%
6. Market order fees 0.1%
7. Entry Trade Order Type – Market.
8. Take Profit Order Type – Limit.
9. Stop Loss Order Type – Market.
10. Win rate percentage ~66% (For every 3 trades, you win at least 2 on average)

Results

Now, does $790 still look negligible to you?

mk4

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Other than Binance or ByBit, most definitely skip whatever small platform provides no-commission trading fees on whatever trading pair. While there technically might be zero fees, you're likely to be paying more due to far less liquidity. You're mostly better off using Binance if you were to use a CEX anyway.

Husires

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Quote from: david678345 on October 28, 2023, 03:57:26 PM

Any alternative to Binance for commission free trading?

You will always pay fees, if they are not in the form of Spot Trading, they may be in the form of higher withdrawal fees, low liquidity levels, slow execution of orders, or for purchasing a token such as BNB or for hidden fees. Trading platforms are not charitable organizations and to run their business they do not require fees. You can search for the lowest possible fees or try to use several platforms to reduce fees, but do not dream of 0% fees.

ZAINmalik75

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Quote from: david678345 on October 28, 2023, 05:16:38 PM

I think bybit is not offering 0% fee anymore

I read at https://www.bybit.com/en-US/promo/global/zero-fees-spot/
Step Up Your Game
Start Small. Earn Big.
All With Zero Fees.
Campaign has ended.

other options?

This campaign is another one because in this there was zero fee on every pair, whether you are trading in BTC, ETH, etc. If you will read thoroughly then you will find they have written in a tab that "Choose from over 280 Spot trading pairs, and trade to your heart's content with zero maker and taker fees." This means, you can do spot trading in any of the pairs without paying any type of fee for them.

But here in this case, Oshosondy was telling you only about the USDC pair which is offering a 0% fee you can find this link here:

Trade USDC Spot pairs with Zero Fees

I hope you got the point here, your link relates to another campaign and zero fee in USDC pair is another offer. I will say try to collect some coupons because you might save some amount while paying fees, one of the best with the least transaction fee is Binance then comes bybit according to my knowledge.

Oshosondy

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Quote from: david678345 on October 28, 2023, 05:16:38 PM

Quote from: Oshosondy on October 28, 2023, 04:08:53 PM

There is no commission offer on Binance. I do not notice anything like free trading fee or anything like that. Unless you use BNB for fee deduction and you will have 25% discount in fee.

For marker and takers in the spot market, the fee is 0.075% on Binance.

0% fee for USDC pair on spot trading on Bybit
0% for spot trading on MEXC.

I think bybit is not offering 0% fee anymore

I have just taken this picture today on my Bybit account:

Just like I have said yesterday, Bybit offer 0% trading fee for USDC pair on the spot market.

Faisal2202

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Quote from: Coin_trader on October 29, 2023, 04:15:14 AM

That minimal percentage is worth a lot for those high capital trader that relying on short trade. They are already happy on minimal percentage gain since their capital is too huge. For normal trader like us, surely this fee is negligible but for high volume trader this is already huge as part of their profit. They frequently trade in daily basis which makes fee painful for them especially if their target profit per trade is below 1%.

Thanks for shedding more light to my statement of --> "It does matter for many". I am not a trader, not do any type of trading (spot or future) so I don't care about the fee because I often make trades only when I need some stable currency to withdraw or etc. But overall, I don't make trades for the time being (but planning to).

Those who make huge volume of trades, they definitely have to make all type of calculations to book some good profit because sometimes, a trader does not give that much importance to the trading fee while using "X" exchange and booking profit but at the same time if he will be using some "Y" exchange then the profit would be increased by 1% to 2%.

Coin_trader

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Quote from: Faisal2202 on October 29, 2023, 04:08:25 AM

Quote from: gunhell16 on October 28, 2023, 06:41:48 PM

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You are right, I always wondered why people give so much importance to the fee they have to pay on spot trading, I mean the fee is too low and for us, it does not matter but for many it does matter. But the trading fee is decreased when the account type increases for example, the Regular account has to pay a 0.1000% / 0.1000% fee in BNB and VIP1 has to pay a 0.0900% / 0.1000% fee in BNB. If you want to know all the fees then the below link can help you:

https://www.binance.com/en/fee/trading

That minimal percentage is worth a lot for those high capital trader that relying on short trade. They are already happy on minimal percentage gain since their capital is too huge. For normal trader like us, surely this fee is negligible but for high volume trader this is already huge as part of their profit. They frequently trade in daily basis which makes fee painful for them especially if their target profit per trade is below 1%.

@OP, The only exchange that I’m using with zero % trading fee is Bybit but only pairs in USDC. The rest of the exchange already remove this kind of promo after their biggest competition FTX is already out of the business.

Faisal2202

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Dear OP, I don't think if there is any no commission or no fee program ongoing, you have to pay commission/fee on you each spot trade, whether you are buying or selling, but you might get some coupons to reduce your trading fee and you can get a 25% discount on your each spot trade if you chose to pay fee in BNB and according to the following news they said,

Quote from: gunhell16 on October 28, 2023, 06:41:48 PM

I use Binance a lot, and I don't pay attention to whether or not a cryptocurrency I trade on this platform has a fee or not. Because there is no issue with me, even though it still has a commission taken from each of their traders on the platform.

You are right, I always wondered why people give so much importance to the fee they have to pay on spot trading, I mean the fee is too low and for us, it does not matter but for many it does matter. But the trading fee is decreased when the account type increases for example, the Regular account has to pay a 0.1000% / 0.1000% fee in BNB and VIP1 has to pay a 0.0900% / 0.1000% fee in BNB. If you want to know all the fees then the below link can help you:

https://www.binance.com/en/fee/trading

gunhell16

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Quote from: david678345 on October 28, 2023, 03:57:26 PM

I think binance launched a promotion of No Commission Spot Trading With Binance...can you still do No Commission Trading With Binance in spot?
On this page there is no mention of commission free trading.
https://www.binance.com/en/fee/trading

Any alternative to Binance for commission free trading?

I use Binance a lot, and I don't pay attention to whether or not a cryptocurrency I trade on this platform has a fee or not. Because there is no issue with me, even though it still has a commission taken from each of their traders on the platform.

Then, if there is no commission, thank you; if there is, it is still fine with me. And that's the business of the platform; it's normal for them to take a commission for each trade of their users, because you won't feel it anyway while they're trading using Binance Exchange.

david678345

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Quote from: Oshosondy on October 28, 2023, 04:08:53 PM

There is no commission offer on Binance. I do not notice anything like free trading fee or anything like that. Unless you use BNB for fee deduction and you will have 25% discount in fee.

For marker and takers in the spot market, the fee is 0.075% on Binance.

0% fee for USDC pair on spot trading on Bybit
0% for spot trading on MEXC.

I think bybit is not offering 0% fee anymore

I read at https://www.bybit.com/en-US/promo/global/zero-fees-spot/
Step Up Your Game
Start Small. Earn Big.
All With Zero Fees.
Campaign has ended.

other options?

Oshosondy

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There is no commission offer on Binance. I do not notice anything like free trading fee or anything like that. Unless you use BNB for fee deduction and you will have 25% discount in fee.

For marker and takers in the spot market, the fee is 0.075% on Binance.

0% fee for USDC pair on spot trading on Bybit
0% for spot trading on MEXC.

david678345

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I think binance launched a promotion of No Commission Spot Trading With Binance...can you still do No Commission Trading With Binance in spot?
On this page there is no mention of commission free trading.
https://www.binance.com/en/fee/trading

Any alternative to Binance for commission free trading?

Topic: No Commission Spot Trading With Binance or Other Exchange? (Read 146 times)