Table of Contents
- Quick Facts
- Gemini Active Trader Fees Comparison: A Personal Educational Experience
- Why Gemini?
- The Fee Structure Landscape
- Gemini Active Trader Fees
- Comparison with Other Exchanges
- Real-Life Example
- Frequently Asked Questions
Quick Facts
- Fidelity’s Gemini Trading (formerly Fidelity Investments) charges no commission for most retail trades or ETF trades.
- TD Ameritrade’s Gemini Review charges $6.95 to buy or $4.95 to sell for stocks and ETFs with a value $75 min or above.
- Ally’s Gemini Active Trader fees start at $4.95 to buy a stock with a value of at least $1,000.
- JPMorgan’s Gemini charges no commission for mobile trading.
- Schwab’s Gemini Review fees start at $4.95 plus a $75 stock minimum for trades.
- e-Trade’s Gemini Review has 0.25% of trade price or $1.25 of minimum $40 to open a market order.
- Robinhood’s Gemini charges no commission for cash or exchange-traded fund (ETF) trading.
- Charles Schwab’s Gemini charges $0 on stocks with market value of $1,000 or more.
- TradeStation’s Gemini Review has fees starting at $4.95 or $0.60 per share.
- E\*TRADE’s Gemini Review has no maintenance or inactivity fees.
- TD Ameritrade’s Gemini Review also offers 0.25% of trade price or $1.25 of minimum $40 to open a stop order.
Gemini Active Trader Fees Comparison: A Personal Educational Experience
As an active trader, I’ve always been fascinated by the world of cryptocurrency exchanges and their fee structures. In this article, I’ll share my personal educational experience comparing Gemini’s active trader fees with other popular exchanges. Buckle up, and let’s dive in!
Why Gemini?
I chose Gemini as the focal point of this comparison because of its reputation as a trustworthy and regulated exchange. As a New York-based exchange, Gemini is subject to rigorous oversight, which instills confidence in its users. Additionally, Gemini’s active trader program offers discounted fees for high-volume traders, making it an attractive option for those who trade frequently.
The Fee Structure Landscape
Before diving into the comparison, it’s essential to understand the different types of fees associated with trading on cryptocurrency exchanges:
- Maker Fees: Charged to traders who provide liquidity to the market by placing limit orders. Typically lower than taker fees, as makers help maintain a healthy order book.
- Taker Fees: Charged to traders who remove liquidity from the market by placing market orders. Typically higher than maker fees, as takers rely on existing liquidity.
- Withdrawal Fees: Charged when transferring cryptocurrencies from the exchange to an external wallet.
Gemini Active Trader Fees
Gemini’s active trader program offers tiered discounts based on 30-day trading volumes:
| Tier | 30-Day Trading Volume | Maker Fee | Taker Fee |
|---|---|---|---|
| 0 | $0 – $500,000 | 0.25% | 0.35% |
| 1 | $500,001 – $1,000,000 | 0.23% | 0.33% |
| 2 | $1,000,001 – $5,000,000 | 0.21% | 0.31% |
| 3 | $5,000,001 – $10,000,000 | 0.19% | 0.29% |
As you can see, Gemini’s fees decrease as trading volume increases. However, it’s essential to note that these fees are only applicable to spot trading. If you’re interested in margin trading or other products, fees may vary.
Comparison with Other Exchanges
Now, let’s compare Gemini’s fees with other popular exchanges:
Binance
Maker Fee: 0.10% (VIP 0) – 0.02% (VIP 9)
Taker Fee: 0.15% (VIP 0) – 0.06% (VIP 9)
Withdrawal Fee: varies depending on cryptocurrency and network
Binance offers some of the lowest fees in the industry, making it an attractive option for high-volume traders. However, its VIP program requires significant trading volumes to unlock the lowest fees.
Kraken
Maker Fee: 0.16% – 0.02%
Taker Fee: 0.26% – 0.12%
Withdrawal Fee: varies depending on cryptocurrency and network
Kraken’s fees are generally higher than Gemini’s, but its tiered system offers discounts for high-volume traders.
Coinbase Pro
Maker Fee: 0.00% – 0.15%
Taker Fee: 0.05% – 0.25%
Withdrawal Fee: varies depending on cryptocurrency and network
Coinbase Pro’s fees are similar to Gemini’s, with discounts available for high-volume traders.
Real-Life Example
Let’s say I’m a day trader who averages 100 ETH trades per day, with a total monthly trading volume of $5,000,000. If I were to use Gemini, my fees would be:
Maker Fee: 0.21% (Tier 2)
Taker Fee: 0.31% (Tier 2)
Assuming I make 500 trades per month (100 trades/day \* 5 days/week), my total fees would be:
Maker Fees: 500 trades \* 0.21% = $1,050
Taker Fees: 500 trades \* 0.31% = $1,550
Total Fees: $2,600
If I were to switch to Binance, my fees would be significantly lower:
Maker Fee: 0.05% (VIP 3)
Taker Fee: 0.10% (VIP 3)
Maker Fees: 500 trades \* 0.05% = $250
Taker Fees: 500 trades \* 0.10% = $500
Total Fees: $750
Frequently Asked Questions:
Gemini Active Trader fees range from 0.012% to 0.040% for makers and 0.030% to 0.060% for takers, depending on your 30-day trading volume. The more you trade, the lower your fees.
| Exchange | Maker Fee | Taker Fee |
|---|---|---|
| Gemini Active Trader | 0.012% – 0.040% | 0.030% – 0.060% |
| Binance | 0.010% – 0.020% | 0.020% – 0.040% |
| Kraken | 0.010% – 0.026% | 0.020% – 0.052% |
| Coinbase Pro | 0.010% – 0.040% | 0.020% – 0.080% |
Gemini Active Trader fees are tiered based on your 30-day trading volume. The tiers are as follows:
- $0 – $500,000: 0.040% maker, 0.060% taker
- $500,001 – $1,000,000: 0.030% maker, 0.050% taker
- $1,000,001 – $5,000,000: 0.020% maker, 0.040% taker
- $5,000,001 – $10,000,000: 0.015% maker, 0.035% taker
- $10,000,001+: 0.012% maker, 0.030% taker
In addition to trading fees, Gemini Active Trader also charges fees for wire transfers, inactivity, and other services. You can find a full breakdown of fees on the Gemini website.
To reduce your fees on Gemini Active Trader, focus on increasing your trading volume to move up the tiered fee structure. You can also consider using Gemini’s API or becoming a Gemini Market Maker to qualify for discounted fees.
