Maker vs taker fees

Maker and taker: the two roles in a trade

Order-book exchanges split trading fees into two kinds: maker and taker. If you place an order that doesn't match right away, you're a maker. Your order sits in the book, waiting for someone else. If you submit an order that matches an existing order instantly, you're a taker because you remove liquidity from the book.

Taker fees tend to be higher on most exchanges, since you’re using up something another trader posted ahead of time. Maker fees are often lower, as platforms want to reward users who deepen the market. But not all exchanges follow this, so it's best to check the latest fee table where you trade.

Which orders count as maker or taker

• If you set a limit buy below the lowest ask, or a limit sell above the highest bid, it usually stays open and acts as a maker order.
• Market orders always take liquidity. They get counted as taker orders.
• A limit order can sometimes act as a taker, if the price you pick matches an order on the book immediately.

Some platforms feature post-only orders, meaning they’ll be cancelled if they’d take liquidity right away, so those are always counted as maker orders. It's useful to see how your platform labels each type, since names and behaviors vary. For a breakdown, look at market vs limit orders.

How volume tiers change the rates

Almost all exchanges publish a chart of fee bands, usually based on volume you've traded over the last 30 days or your total account tier. Higher volume usually means a better (lower) fee percentage. But rates change and special offers may pop up, so check the up-to-date schedule before each trade.

It's worth knowing that these tiers are about traded volume, not how much profit you make. You might get a lower fee per trade but still lose money overall if you trade against the market. Crypto prices can swing quickly, so there's always risk of loss. For a broader view, you can look at exchange fees explained.

A worked example with hypothetical rates

Take a platform charging 0.1 percent on maker orders and 0.2 percent on taker orders. You buy 1,000 euros using a limit order that stays on the book, so your fee is 1 euro. Next time, you use a market order for the same amount and the fee is 2 euros. On this trade, switching order type changes your fee by 1 euro.

These numbers are purely to clarify how maker and taker fees work. Actual rates depend on each exchange and may vary over time.

Frequently asked questions