BINANCE FEE AND DISCOUNTS REVIEW

There are six markets of interest for traders on Binance: spot market, USDT-M perpetual futures market, COIN-M futures market, Cross Collateral market, Liquid Swap and P2P. The most popular market is “Perpetual Futures”.

Certain fee is set on each market. Binance fees are calculated on a maker/taker basis. Its final size is influenced by several factors: BNB, referral link and VIP level. Let's talk about each type of fee.

Fees for makers are lower than for takers. Makers means orders that are situated in line of the order book which are waiting for a counter order for being executed. Takers will be executed immediately at the expense of makers. In other words, makers add liquidity to the exchange, takers take it. Therefore, makers pay less and takers pay more.

Newcomers consider takers are only market orders, and makers are only limit ones. This is not true. Maker is any order that is placed in the order book and waits for execution. Taker is an order that executes an order from the order book.

BNB Holders Discount Binance users can reduce fees using BNB (Binance's own token). At the moment it is 25% on Spot and 10% on Futures.
BNB fee discount is valid in spot and USDT-M perpetual futures markets for all levels of the bonus program. On COIN-M futures market, there is no BNB discount.

Traders receive an additional discount if they register on Binance via a referral link.The maximum discount is 20% for spot market and 10% for perpetual futures. The referral link discount works as a kickback (first of all the full amount of fee will be debited, then transaction occurs and after that the kickback fee will be returned to your account).CScalp Referral link for referrals is valid for 12 months from the date of registration.

If trader already registered on Binance, it will be required to sign up again for getting bonuses from referral link.

Binance VIP Program contains 9 levels. The trader's level depends on its trading turnover in the equivalent of BTC and the number of BNBs held. There are basic fees at zero level.

VIP program and referral link discounts are combined only at zero and first VIP program levels. After reaching the second level, the discount for the referral link will be canceled.

The terms and conditions for participation in VIP program in spot and futures markets are different, the trading volumes in different markets are not summarized.

Example: trader trades only on spot market, the monthly trading volume is greater than or equal to 50 BTC. In this case, trader will receive first level in VIP program only at spot market.

In order to up the level in the futures market a trader needs to have a large turnover (due to the ability to trade with a credit shoulder up to 125 x), that is why there is a division between VIP levels.

Binance Spot Market Base Fee is 0.1% for makers and takers. If you use BNB for paying fee, you receive 25% discount and pay 0.075% of the fee. If you use BNB and a referral link, you receive a maximum discount of 40% and pay 0.06% of the fee.

Binance Spot Market Fee Rate you may find here.

The basic fee in the USDT-M perpetual futures market is 0.02% for makers and 0.04% for takers. Using BNB to pay commissions gives a 10% discount: in this case, the trader pays 0.018% for makers and 0.036% for takers.

The Binance fee rate of Perpetual Futures market is here.

For COIN-M futures market, the base fee is set at 0.015% for makers and 0.040% for takers. BNB and referral link discounts are not provided.

You can find Binance COIN-M Futures fee rate here.

Traders can reduce fees on Binance. We'll get into ways to reduce fees.

If you register using the CScalp referral link, you will receive 20% discount on spot market fee and 10% for perpetual futures. The CScalp referral link is valid for 12 months. If you register using the link, a code will be shown at the "Referral ID" field, as in the screenshot below.

Read more about registering on Binance using the CScalp referral link here.

To pay the fees on spot and perpetual futures markets using BNB tokens, you should enable this function in your personal account. Open User Center to enable it.

Then follow "Dashboard" tab.

Scroll down the page. There you will see a switch to enable / disable using BNB deduction.

Binance's deposit fees depend on the method of the deposit. If you deposit a fiat balance from a bank card there will be a 3,3% charge. If you deposit via Advcash and Payeer payment services there will be no charging at all.

You can also deposit your Binance account without fee by buying cryptocurrency using a bank card directly (without depositing your fiat balance) or on P2P platform.

Binance withdrawal fees also depend on the withdrawal method. No commission is charged for P2P withdrawals. Read more about withdrawing funds from Binance via P2P here. The percentage for withdrawal through payment systems is floating (as a rule, from 0 to 2%).

Note: Binance deposit and withdrawal fees are always changing. You can always find up-to-date information on the official exchange website.

The amount of Binance fee can be found in several ways: in Binance personal account, by report from the CScalp Telegram bot and in the Trade History using Free trader's diary.

To view fees in your Binance account, click on the "Orders" tab.

Select the market you need (spot or futures) and click on the "Trade History" tab.

Note: When the function of using BNB deduction Binance fees is enabled, the debited amount will be displayed in BNB, regardless of the trading pair.

It is faster and more convenient to view the size of the debited Binance fee through CScalp Telegram Bot. To do this, write to bot and click on "Reports'' button.

The bot will offer to generate reports for today, yesterday, current or last week and also for the last trade. Select the period you need and CScalpbot will instantly send a report within a few seconds.

The CScalpbot report displays the size of the fee and its percentage of the trade amount.

Note: Currently CScalp only prepares reports for Binance and FTX perpetual futures trades.

The size of the debited Binance fee can also be found in the service for traders Free trader's diary. To open the diary, write CScalpbot and click on the "Trading Diary” button. Then click "Connect API".

The diary also displays the percentage and size of the fee debited from the trade amount.

To generate reports on trades through CScalpbot or use a diary, you need to connect your Binance API keys to bot.

Note: Currently Free trader's diary only works with Binance and FTX perpetual futures.

Binance trading fees are primarily important for traders who trade using large volumes or make a large number of trades.Trading with a referral link and using BNB for paying fees can significantly reduce costs. You don't have to buy tokens to use BNB. You can convert "dust" (a small amount of cryptocurrency left after trading) into Binance coins.

If you have any questions about Binance fees, ask it in comments! We are not support of the exchange, but we will try to answer you as fully as possible.