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A user that acquires a Prime3 member level through reaching the required spot trading volume will also enjoy the fee rates for Prime3 if he trades derivatives. Unlike other platforms which separate the membership levels one can obtain for spot and derivatives trading, the Huobi Prime membership program enables traders to enjoy the benefits offered by the same membership level for both trading types. In addition to the preferential transaction fees offered (as low as 0.0126% for spot trading), Huobi Prime members can also enjoy rebates of up to 0.01% of the total transaction amount for derivatives trading.

However, in order to obtain the lowest maker fee of 0.015% and taker fee of 0.03% on Binance, users are required to have traded 5 billion BUSD in the past 30 days, a figure that is significantly higher than the 1.8 billion USDT requirement set by Huobi Global.įigure 4: Lowest spot fee comparison between Huobi Global and Binance When comparing the lowest transaction fees offered on Huobi Global and Binance, it becomes apparent that a spot trading volume of only 1.8 billion USDT is required to obtain a maker fee of 0.0111% and a taker fee of 0.0192% on Huobi Global. In this example, Sarah would save 100 USDT by choosing to trade with Huobi Global instead of Binance. The fee rates she could be subject to on each platform are as follows: She would then qualify for Prime4 level membership with Huobi Global or a level-1 VIP level with Binance. How much in trading fees could users save by trading on Huobi Global instead of Binance? Let’s first take spot trading by a retail investor Sarah as an example.Īssuming Sarah traded more than $3 million in the past 30 days. These modest trading volumes listed above stand in contrast to the requirements for becoming a VIP member on other platforms such as Binance or Kucoin - where users are required to reach trading volumes of at least 1 million BUSD or 50 BTC for spot trading, or 15 million USDT or 100 BTC for derivatives tradingįigure 1: Requirements for becoming a Prime/VIP member on Huobi Global, Binance and Kucoin Have at least 2,000 USDT worth of assets on Huobi Global.30-day trading volume from derivatives trading on Huobi Global reaches 100,000 USDT.30-day trading volume from spot trading on Huobi Global reaches 10,000 USDT.To qualify, users need only meet any of the following criteria: High trading volumes are not needed in order for users to become a Huobi Prime member. In order to avoid the rate traps that appear on many platforms today, let us take a look at the rates offered by the Prime program and examine the extent to which they can help traders save costs. The new Prime program is open to both retail traders and professional investors. Huobi Global recently launched its new Prime membership program, aimed at heightening users’ income-generating opportunities while reducing their trading transaction costs. Inconspicuous terms and conditions included in certain membership programs could also prove non-advantageous to traders.

While various cryptocurrency exchanges have implemented membership programs with differing transaction fee rates catered to various investor levels, determining which program offers the most preferential rates could prove a challenge.įor example, some programs could offer more attractive rates for retail investors, while others could provide superior rates for large traders. Regardless of investor level or maturity, transaction fees should be taken into account - seemingly insignificant transaction fee rates could profoundly impact profits, particularly where large trades are concerned. Many traders have exited the market meanwhile, those who have chosen to remain are contemplating the best ways to reduce transaction costs in order to maximize profits.Ĭonscientious traders would make it a habit to compare and evaluate the transaction fees charged by multiple platforms before trading.

London, AugThe cryptocurrency market has been trending significantly downward since last year due to both macroeconomic factors and the insolvency issues faced by major crypto players such as Three Arrows Capital and algorithmic stablecoin TerraUSD (UST).