Maker and taker fees

Most exchanges charge different fees depending on whether your order adds liquidity to the order book or removes it.

A maker places an order that does not fill immediately, such as a limit buy below the current price. It sits on the order book and "makes" the market for others. A taker places an order that matches an existing order straight away, such as a market order, and "takes" liquidity from the book. Because exchanges want deep order books, maker fees are usually lower than taker fees, and some platforms charge makers nothing or even pay small rebates.

Fees are typically quoted as a percentage of the trade value, for example 0.1% maker and 0.2% taker, and many exchanges offer discounts for high trading volume or for paying fees with their own token. When comparing platforms, also look at the spread, deposit and withdrawal charges, and GST on fees, which can add up to more than the headline trading fee.