In the world of cryptocurrency trading, understanding the fee structure is crucial for maximizing your profits. Coins.ph employs a maker-taker fee model for its trading fees, which distinguishes between two types of orders: maker orders and taker orders.
What Are Maker and Taker Fees?
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Maker Fees
These are applied to orders that add liquidity to the market. When you place an order that is not immediately matched with an existing order on the order book, you are considered a "maker." Your order remains on the order book until it is matched with a counterparty.
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Taker Fees
These fees apply to orders that remove liquidity from the market. When you place an order that is executed immediately against an existing order on the order book, you are considered a "taker."
How Maker and Taker Fees Work
Example of Maker Fees
If you place a Limit Order to buy 1 BTC at PHP 1,950,000 while the current ask price is PHP 2,000,000, your order will remain on the order book until someone sells at your price. Once executed, you will incur a maker fee.
Example of Taker Fees
If you place a Market Order to buy BTC at the current market price (e.g., PHP 2,000,000), your order will be filled immediately, and you will incur a taker fee.
Partial Matches
If your order is partially matched immediately, the matched portion incurs a taker fee while the remaining portion stays on the order book and will incur a maker fee when executed later.
Fee Structure Based on Trading Volume
Both maker and taker fees are influenced by your monthly Rolling Trade Volume (RTV). Higher trading volumes may qualify for lower fees. Refer here for detailed information about how fees are calculated based on your RTV.