BitFlyer ends free crypto trading for US clients, introduces 0.12% maker fee

BitFlyer, the leading Japanese crypto exchange which entered the US market at the beginning of this year, is raising its trading fees.

Zero per cent trading fees are now a thing of the past for bitFlyer clients according to an email sent today.

The new bitFlyer fee schedule is structured into three trading volume tiers and is as follows:

Past 30 Day Volume	Taker	Maker
$0m - $1m	0.12%	0.12%
$1m - $10m	0.07%	0.07%
$10m+	0.02%	0.02%

Justifying the move bitFlyer said: "Fees are crucial in allowing us to continue to provide best-in-class service to our traders. Virtual currencies have seen unprecedented growth in the past year, and we are excited to be at the forefront of such a young, high-potential industry."

On bitFlyer's Lightning FX network clients can trade on margin, with leverage of up to 15x.

BitFlyer is not offering market makers a lower fee structure as, for example, Bitfinex and many other exchanges do. By way of comparison Bitfinex fees are lower for makers.

Bitfinex trading fees schedule:

Executed in the last 30 days (USD Equivalent)	Maker fees	Taker fees
$0.00 or more traded	0.100%	0.200%
$500,000.00 or more traded	0.080%	0.200%
$1,000,000.00 or more traded	0.060%	0.200%
$2,500,000.00 or more traded	0.040%	0.200%

New entrants in the US marketplace such as Robinhood are shaking up traditional broking and challenging crypto exchanges with its zero commission trading, although the trading venue makes it money on where it sets the bid/ask spread.

BitFlyer is expanding globally and has also targeted the European market for expansion, opening shop in the European Union in January.

In a sign of the the competitive pressures facing cryptocurrency exchanges, Coinbase is thought to have seen trading volumes collapse 83% since December.

 

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Posted from Coinintelnews.com with SteemPress : https://coinintelnews.com/bitflyer-trading-fees/

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