Great news – Kraken® is reducing trade fees and moving to a maker taker model! This change comes by popular demand, since many clients have told us they would like to see a maker taker model with reduced fees overall. We have also simplified the fee structure with fewer tiers than before.
What is a maker taker model?
In a maker taker model, reduced fees are given to the market “makers” who provide liquidity to the market “takers.” The maker fee applies when you add liquidity to the order book by placing a limit buy below market price or a limit sell above market price. The maker fee is paid only when such orders are taken by new incoming orders. The taker fee applies when you remove liquidity from the book by placing a market or limit order that executes immediately against a limit order already on the book. All advanced orders trigger either market or limit orders and the triggered market or limit order will be maker or taker as described above.
What are the benefits?
Traders adding crypto and Bitcoin liquidity to the book will benefit from the reduced maker fee. Since we have reduced the fees overall, most traders removing liquidity from the book will also benefit from reduced fees compared to our previous fee schedule. Although takers pay a little more than makers (only 0.10% more), this is generally offset by the deeper liquidity and tighter spreads found in the maker taker model.
What are the new fees?
For the bitcoin-fiat pairs, the maker fee goes as low as 0% and up to 0.16% depending on the amount you trade. The taker fee goes as low as 0.10% and up to 0.26% depending on the amount you trade. To review the new fee structure, please check the following link to our site.
Our crytpo-crypto pairs also have a new maker taker structure with reduced overall fees. Note that the fees for the dark pool have also changed but do not follow a maker taker model, since the maker taker model is only advantageous when you can view the order book.
When will the new fees be active?
Starting August 1, 2015.