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According to a report released by the reputable rating agency Cryptowisser, the WEEX exchange offers competitive fee standards that are lower than the global exchange average. So, how does WEEX Exchange specifically structure its trading fees? What are the different fees involved? Let's delve into the details today.
As per the fee structure presented on the WEEX App, the platform's fees encompass three main categories: spot trading fees, futures trading fees, and withdrawal fees.
1.Spot Trading Fees:
Currently, on the WEEX Exchange, the maker and taker fees for all spot trading pairs are both set at 0.2%.
2.Futures Trading Fees:
For futures trading on the WEEX Exchange, the maker fee for all trading pairs is 0.02%, while the taker fee is 0.06%.
A "taker" in the realm of digital currencies refers to a user who "takes" existing orders from the order book. On the other hand, a "maker" incurs fees when they add new orders to the order book. At WEEX Exchange, the maker fee is deliberately set significantly lower than the taker fee. This strategic approach is aimed at incentivizing users to engage in maker transactions, thereby contributing to the platform's enhanced liquidity. It's worth noting that WEEX Exchange is also recognized as one of the foremost futures platforms globally, boasting exceptional trading depth in the realm of digital currencies.
3. Withdrawal Fees:
Withdrawal fees and minimum withdrawal amounts are separately set for different cryptocurrencies on the WEEX Exchange. As of now, the withdrawal fees and minimum withdrawal requirements for various cryptocurrencies are as follows:
BTC: Withdrawal fee of 0.0006 BTC per transaction, with a minimum withdrawal amount of 0.001 BTC.
ETH: Withdrawal fee of 0.01 ETH per transaction, with a minimum withdrawal amount of 0.05 ETH.
USDT (TRC20 Network): Withdrawal fee of 1 USDT per transaction, with a minimum withdrawal amount of 2 USDT.
LTC: Withdrawal fee of 0.001 LTC per transaction, with a minimum withdrawal amount of 0.01 LTC.
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For futures traders, there's also the consideration of funding rates. Funding rates are charged between users and are not collected by the platform. When the funding rate is positive, long positions pay funding fees to short positions, and when the funding rate is negative, short positions pay long positions. The funding fees on the WEEX Exchange are settled every 8 hours, with settlements occurring at 7:00 AM, 3:00 PM, and 11:00 PM (UTC+8) each day.
About WEEX:
WEEX is a futures trading platform emphasizing security and user-friendliness. Established in 2018, the platform currently serves over one million users with an average daily trading volume exceeding $1.5 billion. With secure overseas data protection and a skilled international team, WEEX actively expands its global strategic presence. It has obtained licenses from the US MSB, Canadian MSB, and Saint Vincent FSA, aiming to provide the most professional, secure, and privacy-oriented trading services to global users. To safeguard users' funds, WEEX has set up a 1,000 BTC investor protection fund and publicly disclosed the hot wallet addresses of the fund.
