Topic: [Request] CryptoXChange fee via API (Read 1112 times)

It varies. Most of the ones I have worked with do not send you the fees. There have been a few I have seen that do send you the fees but it was rare. In large commercial exchanges it gets more complicated because there are also clearing firms involved (which have their own fees). This makes it impossible (potentially) for the exchange to know how much you are actually charged since you may have volume deals with your clearing firms as well. Not to mention that you pay for connectivity for large exchanges so that could technically figure into any "calculation" but that is a fixed sunk cost for doing any trading.

MtGox does have a variable fee structure with discounts for higher trade volume. Theirs works off trading volume within a sliding 30 day window and actually works very very well. Their system reconciles exactly too so they've done their homework and their implementation is flawless.

There is a current fee which you can query and retrieve before you place a trade. The Fee will reflect what your current trade volume to date (within the last 30 days) has been. From this figure, you can deduce the fee on trades you are potentially going to make. Fee's from MtGox's system are deducted after an order has been matched.

If you buy BTC on gox, the fee will be deducted on the BTC bought. If you sell BTC, the fee will deducted from the fiat currency you receive.

fair enough - I haven't (yet) traded in that kind of volume. Even if it's the max fee, then that is "good enough" as then I'll make more profit.

The actual order confirmation should contain the real fee which should never be more than this max.

I guess it would also get messed up by intersango's new fee structure of different fees for immediate matching as against speculative.

I think having a dynamic user fee schedule would be great, however I'm fairly realistic in only wanting a defined sitewide fee structure to be updated as the max fee that a trade would be, I can't imagine that it would change that frequently, but also advantages such as CryptoXchange's 0% fee this week would be immediately notified. It's helpful in making a decision, a lower tx fee at a different volume would be no different than a buy/sell order at partially filled at two different rates. In the end the executed order should have the information for the bot/spreadsheet to update.

Also I think I missed out on defining which side the fee would be. (is a usd->btc trade fee in usd or btc.)


I'm gradually working my way through the exchanges to see what functionality they have in each, which are unique and common. Bitfloor is on my list but I probably won't get to it until next week.

I'm probably being a bit pedantic about this because I'm currently building a spreadsheet in which I know I'll make mistakes that are trivially avoidable (so far I've put in 6.5 and 0.065 for the fees in trading calculations.)

how does the large commerical financial exchanges handle this?

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One of the reasons an exchange will not send fees with the order is if they do discounts for order volume. If you trade over X shares a month or within a day, then your fee rate is different and the one sent to you with your orders would not be correct at the end of the day. Another reason is if their reconciliation systems are different from the matching engine. This is true at bitfloor. Our matching engine does not care what user you are and thus does not have your details (like fee structure). If we were to have different fees for different users then it would not know what fee to apply (since again it does not deal with user data).

I also like the idea of having a machine readable fee schedule (but again would need to consider the case where it might be per user, which it is not currently). If anything, users should be able to at least get daily, weekly, or monthly trade reports summarizing their activity.

Now, having said that. Bitfloor does have the fees available through the order details REST api:
https://bitfloor.com/docs/api/rest#order-details

how about is there any reason why *ALL* the exchanges can't do this? This is fundamental to allowing bots to trade efficiently as well as trading spreadsheets.

is there any reason why *all* projects can't post at a fixed location
/feeschedule.csv
/feeschedule.json
/feescehdule.txt
/feebtcusd.txt|json|csv
/feebtcnmc.txt|json.csv


deposit fees (zero, fixed (default bitcoin tx), fixed site or percentage)
withdrawal fees (zero, fixed (default bitcoin tx), fixed site or percentage)
internal/trading fees (fixed or percentage)

rather than spend time searching through the faqs, or only discovering when trying to cash out?


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Geez... i'm just putting it out there and gauging opinions. I started this as a thread as fees were actively discussed a number of times in the CryptoXchange improvements thread (although not API related) along with the variable fee structures they are considering implementing. I'll no doubt point them to this thread when I submit a request to them. That is if the forum community gives a positive consensus (to show there would be demand for something like this) and constructive feedback. Please keep the posts as relevant as possible.

*Admins: please move this thread to the trading discussion subforum.

YES! If you want an exchange (or any other site for that matter) to implement something I strongly suggest you contact them first. If anything ask them to post on the forums (or link to a prepared post) on a discussion on the matter. Do not assume that the exchanges will hunt through all subforums looking for requests.

As a side note, this should probly be in trading discussion as it is more relevant there and not a general bitcoin project.

Wouldn't it make more sense to send a request like this directly to them?

plus deposit/withdrawal fees for each currency, and method.

Though I think a single format that applies across all exchanges would be useful.


marked

I'd like to see the current fee through the API. I've noticed that you have been changing the fee a lot recently with a 0% promotion currently running, there is however no API call to retrieve the fee so when performing various calculations/trading via the API, my figures will not reflect what the true buy/sell cost will be... this is unless I have logged onto your website.

Thanks