How High Should Trading Fees Go?
Electronic, online trading gained overhand in the last two decades and caused the fall of trading fees on traditional stock exchanges. In old times as you had to make phone calls to your brokers to trade, we paid 0.4-1.0 percent of the trading value. Only really “big fishes” paid 0.3, perhaps, 0.2 percent. Actually, in online trading, small investors also pay only 0.15-0.30 percent online, in many cases.
Cryptocurrency-exchanges fees seem to be even cheaper. For example, Binance, as far as I know, applies a 0.1 percent fee on trading and some low level, fixed sum costs for withdrawal (varying by cryptocurrency). Deposit fees are zero.
How much cryptocurrency trading fees do you consider fair, generally acceptable actually? (Including deposit and withdrawal costs.)
(Photo: Pixabay.com)
- Only 0
- Maximum 0.1 percent
- Maximum 0.2 percent
- Maximum 0.5 percent
- Maximum 1.0 percent
- Maximum 5.0 percent
- Any, if the related services have very high quality
- Other (please, comment)
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Service providers must eat too, but the effective online solutions are pushing prices down.
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Supply and demand.