Binance charges fees for every trade made on the platform, and these fees vary depending on the account level and type of trade. Here’s an explanation of trading fees and how to reduce them:
1. Basic Trading Fees:
Binance's basic trading fees start at 0.1% for both buys and sells.
If you are using futures or trading with leverage, the fees may be slightly different than spot trading.
2. Reduce fees using BNB:
You can reduce trading fees by 25% when you pay fees using Binance Coin (BNB).
To activate this feature, you must ensure that you have a balance of BNB in your account and activate the option to pay using it from your account settings.
3. VIP Program and Trading Volume Discounts:
Binance has a VIP program that offers fee discounts based on your monthly trading volume and the number of BNB you own.
If your trading volume exceeds 50 BTC per month, you can upgrade to different VIP levels (VIP 1 to VIP 9) where you get progressive reductions on fees.
4. Using the Binance Futures platform:
On Binance Futures, fees are lower compared to spot trading, and additional discounts are offered when using BNB or maintaining a certain VIP level.
5. Participation in promotions and cash back programs:
Binance offers promotions throughout the year that include discounts on trading fees or cashback for new customers or users of certain products.
6. Benefit from the referral program:
By inviting friends to register on Binance using your referral link, you may get a percentage of their trading fees, which you can use to trade at a lower cost.
advice:
To effectively reduce trading fees, it is recommended to use BNB as payment, and trade regularly to increase your monthly trading volume, which helps in getting VIP levels and reducing fees further.
