SINGAPORE, Jan. 24, 2019 /PRNewswire/ -- In order to better serve the needs of institutional and professional traders, Huobi Global has introduced new tiered transaction fees featuring discounts for higher volume orders. As of yesterday, transaction fees stand as low as 0.015% for makers and 0.025% for takers for very high volume transactions. Previously, all Huobi Global transactions were charged a flat 0.2% fee for both makers and takers no matter what volume they were.
"Institutional and other large-scale traders are a growing part of the crypto space and this change is just one more way for us to serve that need," said Livio Weng, CEO of Huobi Global. "This is just part of our ongoing efforts in this area. Expect to see more great changes for both retail and institutional traders in 2019."
Here is an example of how the new fees will work in action: Suppose you trade 400 million Tether (USDT). Under the new tiered rates, you would only pay USDT 60,000 as a maker fee and USDT 100,000 as a taker fee. Compare this to USDT 800,000 under the previous fee structure.
- To enjoy this savings, large-scale traders need to apply to Huobi directly to take advantage of the new rates: VIP@huobi.com
- The new fee structure can be found here: https://bit.ly/2FJv9Fl
- The rates of other leading cryptocurrency exchanges can be found here: www.coinmarketcap.com/rankings/exchanges/
The updated fees are just the latest in a number of steps Huobi has taken to address the growing sophistication of the crypto market, as well as growing interest from traders from more established financial markets.
In November last year, Huobi Group launched Huobi Derivative Market (Huobi DM), a specialized cryptocurrency contract trading service that allows users the ability to take long and short positions on Bitcoin (BTC), Ethereum (ETH), and EOS (EOS), providing options for arbitrage, speculation, and hedging that were not previously widely available in crypto trading. Later this week, Litecoin (LTC) contracts will be added as well.
Also in November, Huobi Group launched exclusive services and events for quantitative, institutional, and other elite level traders.
In December of last year, Huobi Group revealed details for a fully regulated exchange aimed at institutional players thanks to its Distributed Ledger Technology license granted by the Gibraltar government.
Finally, stop order functionality has recently added to the Huobi Mobile App, allowing traders more tools to effectively trade on the go.
About Huobi Group:
Consisting of ten upstream and downstream enterprises, Huobi Group is the world's leading blockchain company. Established in 2013, Huobi Group's accumulative turnover exceeds US $1 trillion. It proudly provides safe, secure, and convenient cryptocurrency trading and asset management services to millions of users in 130+ countries. Find us at www.hbg.com
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SOURCE Huobi Technology PTE. LTD.