![]() ![]() In such a situation a market order produces only a small price adjustment. The order book is very liquid when a great amount of orders is stored in each buy and sell side of the order book. A matching engine uses the book to determine which orders can be fully or partially executedĮxample of an order book on AscendEx where the prices in red indicate sell orders and the prices in blue indicate buy orders. Please refer to our Terms of Use for more information.An order book is the list of orders that an exchange uses to record the interest of buyers and sellers for a particular financial market. Binance.US is not responsible for any loss that you may incur from price fluctuations when you buy, sell, or hold cryptocurrencies. The volatile and unpredictable nature of the price of cryptocurrencies may result in a significant loss. Risk warning: Buying, selling, and holding cryptocurrencies are activities that are subject to high market risk. Binance.US shall not be liable for any consequences thereof. ![]() The ownership of any investment decision(s) exclusively vests with you after analyzing all possible risk factors and by exercising your own independent discretion. ![]() Binance.US does NOT provide investment, legal, or tax advice in any manner or form. All information is provided on an as-is basis and is subject to change without notice, we make no representation or warranty of any kind, express or implied, regarding the accuracy, validity, reliability, availability or completeness of any such information. Legal disclaimer: This material has been prepared for general informational purposes only and should NOT be: (1) considered an individualized recommendation or advice and (2) relied upon for any investment activities. Taker Fees?įees for Maker and Taker transactions will vary depending on your 30-day trade volume, calculated on a trailing basis, and can be seen on the Binance.US Fee Schedule.ĭownload the Binance.US app to trade on the go: iOS | Androidįollow us on social media to stay up to date with Binance.US news and announcements: ![]() Limit IOC and Limit FOK orders (accessible via the API) are also always takers. These trades are "taking" volume, or liquidity, off of the order book, and are therefore called the "taker." Trades from Market Orders are typically takers, as Market orders rarely go on the order book, except in cases where a large order cannot be filled immediately, and instead, are executed immediately. Taker trades are when you place an order that trades immediately, by filling partially or fully, before going on the order book. Note: It is possible for a Limit GTC order (accessible via the API) to have traded as the taker and maker. These orders add volume to the order book, helping to "make the market," and are therefore termed the "maker" for any subsequent trades. In instances where an order fills partially, the portion of an order that fills immediately is subject to a taker fee, while the portion of an order that makes it onto the order book will be subject to a maker fee. When you place an order that goes on the order book partially or fully (typically, in the context of Limit Orders and Stop-Limit orders placed via the trading screen that are set at a price that is not immediately filled), any subsequent trades coming from that order will be as a “maker" as the order will stay on the order book rather than being executed immediately. Learn more about the difference between maker fees and taker fees in this article. Binance.US uses a maker-taker fee model to determine trading fees. ![]()
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