Poloniex is a decentralized US cryptocurrency exchange that supports more than 350 currencies. Its popularity is greatly attributed to the low trading fees along with other features that make this exchange the perfect cryptocurrency exchange for a large number of crypto traders.
With several trading platforms on Poloniex, traders will find all kinds of experiences and can easily use their services.
The online dashboard on the Poloniex platform also allows proper account management where you can access exclusive account security features and quick trading forms.
It includes access to online stock brokerage, recent trades, all open orders, and a rundown of the order book.
One of the reasons for Poloniex’s popularity is the transaction fees which are very flexible and varied. Poloniex trading fees compare favorably with many crypto traders because even the highest trading fee on Poloniex is just 0.155%.
Continue reading this article to get a full overview of all the different fees on the platform. For a full overview of the platform, we suggest reading our in-depth Poloniex review.
Poloniex Trading Fees
Poloniex exchange fees are divided into two: maker and taker fees. The maker fees are paid by the one who creates an order on the order book, and this new order is unique and does not align with other orders on the order book. On the other hand, the taker fees are incurred upon the user who takes up an already active order from the book.
The maker/taker transaction model on Poloniex helps distinguish between maker and taker orders as either providers or takers of the liquidity pool. Compared to takers, makers typically earn a lower trading fee as a reward for creating new liquidity on the exchange platform. On the Poloniex exchange platform, both makers and takers are charged a flat fee of 0.125%.
On other competitor exchange platforms, you will see that the average spot trading fees for makers are at least 0.177% and 0.221% for takers, which is higher than what Poloniex charges its users.
Poloniex Futures Trading Fees
Poloniex offers a futures trading option to its users with 100x leverage on all Poloniex Futures trades. In this type of trading, the users sell stocks to repurchase them later.
Compared to the low trading fees on Poloniex, the cost for buying or selling crypto on the platform is quite hefty. Especially if you are making purchases through banks, you will pay Poloniex and your banking service provider a percentage cut.
Poloniex charges a 0.5% fee of the total amount, whereas the banks will have their charges. If you are trying to buy crypto through credit or debit cards, you will be charged 0.75% of the total value.
Since futures trading is relatively hazardous, it is recommended that you only start trading in Poloniex Futures if you are an experienced trader or have help from a veteran trader on the platform.
Poloniex Withdrawal Fees
When you withdraw any asset from your Poloniex wallet, you must pay a fixed fee to the trading platform. The withdrawal fee is paid to cover the costs of transaction broadcasting on this decentralized exchange platform.
For all Poloniex exchange fees outside of the Poloniex network, you need to pay a transaction fee that is not paid to the exchange nut to the miners. Miners take care of the whole transaction process while keeping the blockchain secured.
When you process your withdrawal on Poloniex, make sure that you choose a network that is compatible with your withdrawal address. Selecting the wrong address for the lowest Poloniex transaction fee network may result in you losing funds.
Poloniex Deposit Fees
There are no Poloniex deposit fees charged to any user on the platform. This means that you can deposit as many funds as you want in your account without paying a fee.
Poloniex Margin Trading Fees
If you are a margin trader, you need to pay interest to the lender based on how much loan you have taken. This rate is already decided upon when you receive your loan offer, and the charges start when your margin position is closed.
Poloniex Lending Fees
Poloniex charges 15% of the interest earned by the lender as lending fees when they participate in the Poloniex lending scheme.
How are Poloniex Fees Calculated?
All trading fees on Poloniex are charged to users per trade, which is divided into maker and taker fees. This rate decreases when you reach your 30-day rolling trade volume increases, and every day the platform calculates your TRX (Tron) balance with your current 30-day trading volume to give you new fee tiers.
Poloniex Fees Rebate
Poloniex offers various bonuses on their referral program, which customers can benefit from. When you sign up for the platform, you can enter the Poloniex referral code, which will allow both you and the current user to enjoy certain benefits on this platform. For you, as a trader, lender or whatever else you plan on doing on the platform, you will be receiving a 10% fee rebate (discount).
The Poloniex referral program lets you earn rewards and bonuses when you invite other users on the platform. They will receive a discount upon signing up with your link, whereas you earn a 20% commission from all their trading ventures. The commission that you gain from the referral program on Poloniex is paid in USDT every day until you become a VIP on the platform or a market maker.
For more information about this, read our full guide on the Poloniex referral code and how it works.
Poloniex Fees FAQ
Poloniex does not charge money for depositing funds in your account.
Poloniex uses the standard maker/taker model for determining trading fees on its platform.
You don’t get charged a payment when you cancel an open order on Poloniex.
– Go to the Poloniex website or go to the dashboard on the Poloniex mobile app
– Scroll down to the bottom of the page
– Click on “About Poloniex”
– From the new window, click on fees
– You will get a detailed breakdown of different costs on Poloniex
Poloniex has lower fees compared to Shapeshift.
When you start lending in Poloniex, you need to pay a flat 15% of the earned interest as a lending fee to Poloniex.