I've been trading actively on Mexc Exchange, but I'm a bit confused about how the trading fees are calculated. What's the total fee rate for a typical transaction?
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Xolvie Resolution Specialist January 28, 2024 1:51 pm
Understanding MEXC's trading fees involves considering both the base fee and additional factors. For makers, who add liquidity, the base fee is 0.0000%, essentially making it free. Takers, who take existing liquidity, face a 0.10% base fee. VIP levels offer discounts, ranging from 5% for VIP1 to 30% for VIP5.
Additional fees may apply, especially for specific trading pairs with lower liquidity. To calculate the total fee, multiply the base fee by the total trade volume, accounting for VIP-level discounts and specific pair fees.
For example, if you place a 1 BTC market buy order (taker), the base fee is 0.10%, resulting in a total fee of 0.0001 BTC. Minimizing fees involves becoming a VIP for reduced rates, placing maker orders to earn fee discounts, and considering larger trade volumes for potential VIP-level benefits and lower specific pair fees. Understanding these components simplifies the calculation of fees for a typical transaction on MEXC.
Exchange platforms often update their procedures, so it's advisable to double-check the current services and fees before starting ant trading actions.
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