Currency.com Fees and Minimum Deposit - TU Expert review
After considering a crypto exchange’s security, examining its fees is the next crucial step. Lower fees translate to higher potential profits. Newcomers to crypto trading may also want to consider the minimum deposit required to start trading, as they might prefer to begin with a smaller investment.
Traders Union analysts have assessed Currency.com fees and minimum deposit requirements to help prospective crypto traders make informed decisions.
Short introduction of Currency.com
Currency.com is a unique crypto platform for Bitcoin, Litecoin, Ethereum, and other assets trading. Traders have a lot of cryptocurrencies and tokens at their disposal, which can be freely transferred and converted, as well as exchanged for fiat funds. The exchange complies with International AML and KYC standards, offers narrow spreads and competitive commissions. There are affiliate and referral programs, as well as the possibility of investment in the company’s tokens and tokenized government bonds. There is mobile trading in addition to web applications. The platform is characterized by powerful analytical tools.
👍 Advantages of trading with Currency.com:
•a large number of assets;
•free exchange of cryptocurrencies for fiat funds;
•several dozen technical indicators for charts;
•trading with leverage up to 1:500;
•protection from negative balance;
•high transaction speed;
•fully functional demo account.
👎 Disadvantages of Currency.com:
•there is no cold storage method for cryptocurrencies;
•there are no fiat accounts, no scalping available;
•long delays during withdrawal of funds.
Currency.com Commissions and Fees
Trading fees are 0.75% for the taker, 0.25% for the maker, and 0% for tokenized currencies and assets. The commission for the exchange can be up to 0.5%, depending on the exchange type and direction. Fees are also imposed on long-term leveraged transactions following market rates. The amount of the leverage fee shall be either added to the account balance or deducted from it when making an application after a certain period. The commission for depositing with Visa and Mastercard is 3.5%; for withdrawal it’s 3% + $3. Depositing via bank transfer is free. The withdrawal fee is 0.15% (min $20, max $150).
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | From 0.075% per market order | 0.15-3% (+$3 for Visa/MC) |
A broker is an intermediary between a trader and an exchange. Therefore, brokers charge fees for their services. The fees may have different structure.
There are the following fees in the Crypto market:
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Spread – the difference between the buy and the sell price of an asset.
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Commission per lot.
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Commission per trade.
Broker fees may differ depending on the trading account type. For example, on some accounts spread is used as a trading fee, and on others – commission per lot.
Why is it important to consider the minimum deposit at a cryptocurrency exchange?
Accessibility: The minimum deposit helps traders determine if they can afford to start trading on an exchange.
Risk Management: Exchange-set minimum deposits ensure traders have sufficient funds to cover potential losses and fees, preventing financial overextension.
Platform Suitability: The minimum deposit amount can be an indicator of the exchange’s target audience and trading volume, aiding traders in selecting a platform aligned with their goals.
Cost Considerations: Assessing minimum deposit requirements helps traders account for trading expenses.
Are the fees and minimum deposit requirements at Currency.com suitable for beginners?
Analysis of Currency.com shows that the broker has a rather high minimum deposit. It could pose a problem for traders, who are only starting their path in trading. Nevertheless, the fees are low. Therefore, the broker will be a good choice for professional traders.
FAQs
Is there a dependence between the fees and the deposit amount?
If a broker offers several account types, there is often a dependence. The more money you deposit, the higher the level of your account will be, and, accordingly, the lower the fees.
Can you cover the fees with bonuses?
Yes, it is possible. Some brokers offer a welcome or deposit bonus that can be used to cover the fees.
Are the fees charged on a demo account?
Yes, but they are written off the virtual funds you use for trading on the demo account. This allows you to learn the level of the fees.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.