United

<a href="https://bitcoinworld.co.in/binance-raises-fees-for-broker-users-report/" title="Binance Raises Fees For Broker Users, Report" rel="noopener noreferrer nofollow"></a>
Binance will be changing its fees structures on July 1, effectively <a href="https://bitcoinworld.co.in/binance-to-remove-prime-brokerages-loophole/" rel="noopener noreferrer nofollow">raising</a> fees for users who trade on the platform via prime broker, <a href="https://www.bloomberg.com/news/articles/2024-06-27/binance-closes-vip-link-plus-fee-loophole-that-s-lucrative-for-prime-brokers?embedded-checkout=true" rel="noopener noreferrer nofollow">reports</a> Bloomberg.
Previously, brokers who were a part of Binance’s Link Plus program were able to lower trading fees for users thanks to the total volume the broker was doing. It effectively allowed users to benefit from a more generous fee tier than their trading would normally justify.&nbsp;
The structure of this setup used to mean that certain traders could receive lower fees by trading through these brokers instead of Binance directly, benefitting from the broker’s ability to aggregate its many sub-accounts.
This change would significantly reduce the incentive for traders to use these brokers, potentially driving them toward Binance itself.&nbsp;
The Bloomberg reporting specifically includes comments from Bequant, which previously took advantage of these differences in the Binance fee tier as part of its core business model and is apparently pivoting to focus more on trading.&nbsp;
This change comes as Binance tries to maintain its place as the largest crypto exchange after its deferred prosecution agreement with the United States Department of Justice.
Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Binance Raises Fees For Broker Users, Report

ItsBitcoinWorld

Altri articoli pubblicati su 28 giu 2024

Bitcoin Miner Capitulation Ended? On-Chain Data Signals Market Recovery

Bybit Rebrands Narkasa as Bybit Turkiye, Unveiling Upgraded Platform for Turkish Crypto Market

Investors Eye BlockDAG’s Unmatched 15,000 TPS; Toncoin Transfer Volume Hits High & Bitcoin Cash P...

2024 Presidential Debate Sidesteps Cryptocurrency Despite Its Growing Importance

Bitcoin and Altcoins Show Mixed Performance

Solana Ecosystem Top Gainers: MICHI, OTK, WEN, DADDY

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!