Binance, one of the world’s largest cryptocurrency exchanges, does not charge for open orders. This is good news for traders who want to take advantage of the platform’s many features without having to worry about fees eating into their profits.
The no-fee policy applies to both market and limit orders. That means you can place an order to buy or sell a coin at the current market price, or you can set your own price and wait for someone else to match it.
Binance will never charge you a fee for leaving an order open.
Of course, there are other fees to be aware of when trading on Binance. For example, when you make a trade, you will be charged a small “taker” fee. This is common on most exchanges and is simply a way for the exchange to make money.
NOTE: It is important to note that Binance does charge for open orders. Open orders are trades that have not been filled yet, and if left open for an extended period of time can result in fees. Depending on your trading pair, you may be charged a fee for leaving an order open. Be sure to check Binance’s fee schedule before placing any orders and be aware of any potential fees associated with them.
The taker fee is 0.1% on Binance, so it’s not very significant.
You will also be charged a “maker” fee if your order is not the one that fills the trade. In other words, if someone else places an order at the same price as yours, their order will fill first and you will be charged the maker fee.
The maker fee is 0% on Binance, so there is no disadvantage to being a maker.
In conclusion, Binance does not charge for open orders. This is good news for traders who want to take advantage of the platform without having to worry about fees eating into their profits.
There are other fees to be aware of when trading on Binance, but they are relatively small and should not deter you from using the exchange.
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Binance is a cryptocurrency exchange that was founded in 2017. The company is based in Malta and has offices in Taiwan. Binance is the largest cryptocurrency exchange in the world by volume.
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