BtiMEX is one of the most popular cryptocurrency exchanges wherein millions and trillions of volumes change hands every day. Maker and Taker are two types of fees that an investor may be subject to on a cryptocurrency trade. Maker Taker refers to an exchange or a trading platform pricing system where liquidity is enhanced for market takers (by the market makers) and transaction fee is charged to the takers of this liquidity. BitMEX also has a maker taker policy, a bit different from other exchanges, let us see in detail.
What is BitMEX Maker Taker
Whenever an order for a trade, goes on the order book, either partially or fully, it is classified as a Maker. On the other hand, if the trade trades quickly, before even going to the order books, it is categorized Taker.
BitMEX has considerably a lower rate of fees and commissions as compared to other exchanges. But, the volumes traded are usually huge, and the fees thus become considerable over a period of time. This is why traders make use of Maker Taker at BitMEX so as to make profit while ordering a position.
If the investor executes a position via market order, that is as a taker, the investor is required to pay 0.075% of the USDXBT contract quantity. The advantage is orders are immediately executed. On the other hand, if you execute the position via Limit Order as an investor, you can earn 0.025% of the USDXBT contract quantity on BitMEX. Like this, as a maker, you earn some percentage and the downside is you have to wait for some time. Also, you can get a 10% discount easily on the taker fee, using the discount coupon that is valid for the first six months, when you register on BitMEX.
Please note that the Maker Taker fee appears to be heavier at BitMEX as compared to other exchanges, but the fee applies to the entire leveraged position and not just the margin like traditional exchanges. This is also a major advantage of trading at BitMEX.
Advantages of opting for BitMEX Maker Taker
In case the market fluctuations exist, and that too huge, it is better to pay the taker fee while executing a market order. Some situations might need very quick transactions, so you can pay the maker fee in that case. Actually different situations require different strategies. So better consult some service provider, like executium.com, who can guide you what option to choose and when. BitMEX has one the lowest fees and the highest volume amongst cryptocurrency exchanges. This makes you reap huge profits if you play well with the Maker Taker during market fluctuations. So better hire some experts, like executium.com who will not let the chance slip your hands. They will constantly monitor and decide strategies that are the most cost effective for you. Sometimes traders lose in the Bitcoin price, but are still able to make net profits by earning more out of the BitMEX Maker Fee or the limit orders.