The itBit by Paxos exchange offers a simple fee structure with low rates and the opportunity for retail and institutional customers to trade commission-free. Our maker-taker fee model ensures that we are operating with a deep liquidity pool, which allows for better price discovery and a favorable trading environment for all customers.
Maker orders (resting orders that add liquidity to the exchange) are eligible for rebates, dependent on fee tier, and taker orders are charged fees according to the following tiered approach, based on 30-day rolling volumes (USD):
New Fee Structure (going into effect 3/25/2021)
Legacy Fee Structure (Prior to 3/25/21)
*SIngapore Dollar & Euro markets are no longer active markets and are therefore not shown in the fee structure matrix
Maker vs Taker Definition
Maker Order: Orders that add ("make") liquidity to an orderbook. You become a “maker” when you place an order and it does not execute immediately, instead, the order is placed on the order book until another counterparty matches the other side of the trade. This can be done using the “Post-Only” order type or strategically using the “Limit” order type, depending on the details of the order.
Take Order: Orders that "take" liquidity from the order book and thus will always incur a fee. You become a "taker" when you place an order that executes immediately and matches with an existing order on the order book. This can be done using the “Market” order type or strategically using the “Limit” order type, depending on the details of the order.