Binance Fees Explained: How Much Does Binance Charge and 3 Ways to Save Up to 40%

Understanding the fee structure on Binance is crucial for any crypto trader. This guide provides a comprehensive overview of all Binance fees for spot trading, futures trading, deposits, and withdrawals, along with three effective strategies to significantly reduce your trading costs.

Does Binance Charge Trading Fees? A Complete Fee Overview

Exchanges typically charge different fees based on how an order is placed. The two primary order types are Maker and Taker.

• Maker: A trader who places a limit order that is not immediately matched with an existing order. This order adds liquidity to the market.
• Taker: A trader who places a market order that is immediately matched with an existing order, thereby taking liquidity from the market.

Maker orders are generally charged a lower fee because they provide market depth and improve liquidity, which benefits all traders.

Here’s a summary of the standard trading fees on Binance:

Note: Binance frequently runs promotions, such as zero fees for makers on FDUSD trading pairs and takers on USDC trading pairs. Utilizing these pairs can lead to substantial savings.

How Are Binance Fees Calculated?

The formula for calculating any trading fee on Binance is straightforward:

Trading Fee = Order Amount × Applicable Fee Rate

For example, if you sell 1 Bitcoin (BTC) valued at $100,000 using a limit order:

• Fee: 0.001 BTC (1 BTC × 0.10%)
• Amount Received: $99,900 [(1 - 0.001) × $100,000]

How Do Binance Fees Compare to Other Exchanges?

When compared to other leading global exchanges like OKX and Bybit, Binance's standard fees are highly competitive. However, Binance's true advantage comes from its powerful fee discount programs, which can lower costs significantly beyond the base rate.

👉 Compare real-time fee structures across platforms

Binance Futures Trading Fees

Futures trading fees on Binance are the same for USDT-margined, USDC-margined, and coin-margined contracts. The standard fee is 0.02% for makers and 0.05% for takers.

Important: A fee is charged when you open a position and again when you close it.

Your fees can be reduced by achieving VIP status through high trading volumes or by holding Binance Coin (BNB). Enabling the "Pay with BNB" feature immediately grants a 10% discount on futures fees, though you must consider the price volatility of BNB itself.

Achieving VIP Status: VIP levels are determined by your 30-day trading volume and your BNB holding balance. For example, VIP 1 requires a 30-day trading volume of ≥ $15,000,000 USD and holding ≥ 25 BNB.

Binance Options Trading Fees

Options trading involves two primary fees:

• Trading Fee: 0.03% of the option's value, charged when buying or selling a contract.
• Exercise Fee: 0.02% of the option's value, charged only if the option is exercised.

Both fees are capped at a maximum of 10% of the option's value.

Binance Deposit Fees

The cost to deposit funds varies by method:

• Crypto Deposit (e.g., from another exchange): Binance charges no fee. You only pay the withdrawal network fee charged by the sending exchange.
• Credit/Debit Card Purchase: Involves a ~2% platform fee from Binance and an additional ~1.5% foreign transaction fee from your card issuer. This is a convenient but expensive method.
• Peer-to-Peer (P2P) Trading: Binance charges no fee for P2P transactions. However, your bank may charge a transfer fee for fiat currency deposits.

For cost-effective deposits, buying USDT on a local exchange and then transferring the crypto to Binance is usually the best strategy.

Binance Withdrawal Fees

Withdrawal fees are paid to blockchain miners to process the transaction, not to Binance.

• Sending Crypto to Another Binance User: Using Binance Pay is free for the first $140,000 transferred per month, after which a $1 fee per transaction applies.
• Withdrawing Crypto to an External Wallet: Fees depend on the cryptocurrency and the network you choose.

USDT Withdrawal Fees:

• TRON (TRC20): 1 USDT
• BSC (BEP20): 0.33 USDT
• Ethereum (ERC20): 6 USDT
• Solana: 1 USDT

Fees for withdrawing BTC and ETH are generally lower than for stablecoins like USDT. Always check the current network fees and congestion before withdrawing.

3 Effective Tips to Reduce Your Binance Fees

Savvy traders don't pay full price. Here are three legitimate ways to slash your trading costs.

Tip 1: Use a Referral Code for a 20% Discount

Registering with an official referral code is the easiest way to get an instant discount. It provides four key benefits:

1. 20% Spot Trading Fee Discount: Your standard 0.10% fee is reduced to 0.08%.
2. Additional 25% Discount with BNB: This stacks with the referral discount. When both are active, your spot trading fee can drop to 0.06%—a 40% total reduction.
3. Fee Rebate Vouchers: New users can receive up to 600 USDT in fee rebate vouchers.
4. Access to Exclusive Communities: Some referrers offer access to trading groups with market insights and tips.

Tip 2: Pay Fees with BNB for a 25% Discount

Holding Binance Coin (BNB) allows you to pay for fees at a 25% discount. This applies to spot, futures, and most other trading fees on the platform.

How to Enable BNB Fee Discount:

1. Click on your profile icon in the top right.
2. Select the "BNB" discount option from the menu.
3. Toggle the "Use BNB" switch to the on position.

Once enabled, all applicable trading fees will be automatically deducted from your BNB balance at the discounted rate. Remember, this requires you to hold BNB, which exposes you to its market price fluctuations.

Tip 3: Join the Binance VIP Program

For high-volume traders, the Binance VIP program offers the most significant fee reductions. VIP status is achieved by meeting specific thresholds for trading volume and BNB holdings or assets under management.

Sample VIP 1 Requirements (Trader Plan):

• Hold ≥ 25 BNB
• AND have a 30-day spot trading volume ≥ $1,000,000 OR futures volume ≥ $15,000,000

Higher VIP levels offer progressively lower maker and taker fees, along with other premium benefits like custom services and higher API limits.

👉 Explore advanced strategies for high-volume traders

Frequently Asked Questions

How can I check my total fee history on Binance?
Currently, Binance does not have a feature to show your total fees paid over a specific period. You must check each individual trade in your transaction history. On the app, go to your Wallet > Spot > click the history icon next to your balance to see the fee for each executed trade.

Is it safe to keep my assets on Binance?
Binance is the world's largest cryptocurrency exchange by volume and employs robust security measures. These include the Secure Asset Fund for Users (SAFU), an emergency insurance fund, and regular Proof-of-Reserve audits to ensure user funds are backed 1:1. It is licensed and regulated in numerous countries.

What is the difference between Maker and Taker fees?
A Maker adds an order to the order book (e.g., a limit order not immediately filled), providing liquidity. They receive a lower fee. A Taker removes an order from the book (e.g., a market order that fills immediately), taking liquidity, and pays a slightly higher fee.

Can I use multiple fee discounts at the same time?
Yes, the most powerful combination is using a referral code (20% off) and paying with BNB (25% off). These discounts stack multiplicatively, resulting in a total discount of 40% off the standard spot trading fee.

Are there any fees for transferring between Binance accounts?
Transfers between Binance users using Binance Pay are free for the first $140,000 equivalent transferred in a calendar month. Transactions exceeding this limit incur a small flat fee.

Do I get a discount on withdrawal fees?
No. Withdrawal fees are network (gas) fees paid to blockchain miners. Binance does not profit from these, and they are not eligible for any BNB or VIP discounts. The fee amount is dynamic and based on network congestion.