Commissions on cryptocurrency exchanges are needed to cover the exchange’s operation costs, such as transaction processing, security, and customer service. In addition, commissions can be used to incentivize or increase trading volumes.
What are the commissions on Movo?
There are three types of commissions on the Movo app:
- Funding commissions.
- Trading commissions.
- Liquidation commissions.
What is a funding commission?
Funding fees are paid for borrowed funds. That is, you add a multiplier to your deposit (from 2x to 50x and multiply the amount you have by 2x or even 50x). You pay a fee for this, just like in a bank where the customer pays interest for using borrowed funds.
Funding fees are charged when a position is opened and are collected every day.
What is a trading commission?
Trading commissions are amounts charged for trading on the platform. They are usually divided into two categories: Makers and Takers. The former are users who create new buy or sell orders, adding liquidity to the market. The latter, on the contrary, executes existing orders.
What is a liquidation commission?
A liquidation fee is charged when an exchange has to forcibly close its position to limit potential losses. The commission is charged on the size of the entire position.
What currency is the commission charged in?
Commissions on Movo are charged in the currency specified in the currency pair being traded.
For example, you have decided to open a long-growth trade in the BTC/USD pair. So the commission will be charged in USD.
🎁 Movo fee discounts — what do they refer to?
If Movo gives you a discount or you enter contests to get a commission discount, this is a funding fee. That is, if you have a discount, you pay virtually no commission for the funds provided when you enter a position and for each day of trading.
All current fee amounts are listed here.
Movo offers the lowest commission among competitors. Trade smart! 😉
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