Trading Fees Structure

What Fees are Charged for Trading?

MidChains adopts a volume-based fees tiers approach in determining its trading fees. Orders are charged differently depending on the volume transacted as either a Maker or a Taker.

Maker – you become a Maker when you place an order that does not fill immediately (like a limit order). These orders could either be Buy or Sell orders that will sit on the Order Book without executing immediately. A Maker Fee will apply to orders that provide liquidity to the Order Book below the ticker price for a Buy Limit order and above the ticker price for a Sell Limit order.

Taker - you become a Taker when your orders immediately fill in full against orders already on the Order Book.  When you place an order that trades immediately, by filling fully, before going on the order book for those that are not immediately filled. Trades from Market orders are always takers, as market orders can never go on the order book. These trades take volume off of the order book.

MidChains provides rebates and fees discounts to Makers and Takers respectively. Fees are charged based on the notional value of trade volumes executed. This implies that when you place an order that takes liquidity from the market you will be charged the Taker fee but you will enjoy lesser fees based on the volumes of your trades, whereas when you place orders that provides liquidity on the market you will not be charged transaction fees on your trades, instead, you enjoy rebates from fees collected on the taker side transaction also determined by the volumes of your transactions.

Please Note: This fees structure is only applicable to trades executed on the trading platform.

How Do I Check the Fees Charged for My Trades?

Once your placed orders execute either as a Limit or Market, Buy or Sell order you can view the details of the trade by checking the Fills blotter on the trading platform. The Fills blotter displays details of the trading pairs, the side of trade (Buy or Sell), quantity executed, price at which the trade was executed, RefNo., Maker/Take type of fees applicable to the trade, the Asset being charged (either an Accepted Virtual Asset or United States Dollars), the fees amount and the date of execution.