When trading on Binance, you will notice there are two fee rates: "Maker" and "Taker." Many beginners are confused by these concepts and do not even know which rate applies to their trades. The short answer: they are different -- Maker (limit order) fees are typically lower than Taker (market order) fees. Here is why, and how it affects you in practice. If you do not have an account yet, sign up on Binance first.
What Are Maker and Taker
Maker (Limit Order Placer)
When your order does not fill immediately but instead sits in the order book waiting for someone else to trade against it, you are a Maker. You "make" liquidity for the market.
Typical Maker behavior:
- Limit buy order priced below the current market price
- Limit sell order priced above the current market price
- Order is placed and waits to be filled
Taker (Market Order Placer)
When your order fills immediately, consuming existing orders in the order book, you are a Taker. You "take" liquidity from the market.
Typical Taker behavior:
- Market orders (buy or sell, they fill immediately)
- Limit buy order priced at or above the current best ask
- Limit sell order priced at or below the current best bid
Binance Fee Structure
Spot Trading Fees
Binance spot trading uses a tiered fee structure based on your 30-day trading volume and BNB holdings to determine your VIP level:
| VIP Level | Maker Fee | Taker Fee |
|---|---|---|
| Regular User | 0.1% | 0.1% |
| VIP 1 | 0.09% | 0.1% |
| VIP 2 | 0.08% | 0.1% |
| VIP 3 | 0.042% | 0.06% |
For regular users, Maker and Taker fees are the same (both 0.1%). But starting at VIP 1, the Maker fee becomes lower than the Taker fee.
Futures Trading Fees
In futures trading, the Maker/Taker difference is apparent even for regular users:
| VIP Level | Maker Fee | Taker Fee |
|---|---|---|
| Regular User | 0.02% | 0.05% |
| VIP 1 | 0.016% | 0.04% |
| VIP 2 | 0.014% | 0.035% |
As you can see, in futures trading the Maker fee is only about 40% of the Taker fee -- a very significant difference.
Why Are Maker Fees Lower
Exchanges design fee structures this way for good reason:
Makers provide liquidity to the market. More limit orders mean tighter bid-ask spreads and a better trading experience for everyone. Exchanges lower Maker fees to incentivize limit orders and increase market depth.
Takers consume liquidity. Each market order reduces the number of orders in the book. Exchanges charge Takers higher fees to offset the liquidity they remove.
Think of it like a restaurant giving discounts to regulars -- Makers are helping the exchange "attract customers," so they get a discount.
How to Save on Fees
Method 1: Be a Maker Whenever Possible
Use limit orders, setting buy prices slightly below the current market price and sell prices slightly above it. This way your order enters the order book and is charged at the Maker rate.
However, if the market is moving fast, your limit order may not fill. You need to balance "saving on fees" versus "ensuring execution."
Method 2: Enable BNB Fee Deduction
In the Binance App settings, enable "Use BNB to Pay Fees" for a 25% fee discount (the exact discount may be adjusted -- check official announcements for the latest rate).
Method 3: Upgrade Your VIP Level
High-volume traders can upgrade their VIP level for lower fee rates. Holding BNB also helps meet VIP level requirements.
Method 4: Use a Referral Code
Sign up on Binance with a referral code to potentially receive a percentage of fee rebates.
How to Check Your Fees
View Your Current Fee Tier
- Open the Binance App (Download the Binance App)
- Tap the profile icon in the top left > Fee Tier
- View your current VIP level and corresponding Maker/Taker rates
View Historical Fee Spending
- Go to "Orders" > "Trade History"
- Each trade record shows the fee amount and rate
- Filter by date range to calculate total fee spending over a period
Real-World Impact
Using a 10,000 USDT trade as an example:
- Regular User Taker: 10,000 x 0.1% = 10 USDT in fees
- Regular User Maker: 10,000 x 0.1% = 10 USDT in fees
- VIP 3 Taker: 10,000 x 0.06% = 6 USDT in fees
- VIP 3 Maker: 10,000 x 0.042% = 4.2 USDT in fees
For futures trading (regular user):
- Taker: 10,000 x 0.05% = 5 USDT
- Maker: 10,000 x 0.02% = 2 USDT
If you trade multiple times daily, the cumulative difference between Maker and Taker fees becomes very substantial over time.
Safety Tips
- Do not trade on sketchy exchanges just to save on fees -- security matters more than savings
- Be wary of unknown platforms claiming "zero fees" -- they may hide costs in wider spreads
- Before enabling BNB deduction, make sure you have enough BNB in your account
- Regularly review your fee spending to understand your true trading costs
FAQ
Q: Is a limit order always charged at the Maker rate? A: Not necessarily. If your limit buy order is priced at or above the current best ask, it fills immediately and you are charged as a Taker. Only the portion that sits in the order book waiting to be filled is charged at the Maker rate.
Q: How are partial fills handled? A: A single order may partially fill as a Maker and partially as a Taker. Fees are calculated separately for each portion.
Q: Can BNB deduction and VIP discounts stack? A: Yes. For example, if you are VIP 1 with a 0.09% Maker rate and apply a 25% BNB discount, your effective rate is 0.0675%.
Q: Are futures and spot fees the same? A: No. Futures base rates are typically lower than spot, but futures also incur funding rates and other costs. Total costs need to be calculated case by case.