HitBTC 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 HitBTC fees and minimum deposit requirements to help prospective crypto traders make informed decisions.
Short introduction of HitBTC
The HitBTC cryptocurrency exchange is among the longest-standing platforms for digital assets trading. It was established in 2013 in the UK. As of 2021, the cryptocurrency exchange is headquartered in Chile. The platform offers clients trading with over 500 assets, primarily cryptocurrency pairs. The platform offers a Robot-friendly API that can be used to develop applications.
👍 Advantages of trading with HitBTC:
•over 500 cryptocurrency pairs;
•commission for the cryptocurrencies withdrawal - 0%;
•Support service works 24/7.
👎 Disadvantages of HitBTC:
•there are no passive investment instruments;
•high commissions for Starter and General account types;
•there are per trade limits on volume;
•just a few tools for technical and fundamental analysis;
•no affiliate program.
HitBTC Commissions and Fees
Analysts at the Traders Union examined the trading terms of the HitBTC exchange for the commission differentiation. The commission amount depends on the trading account type. For Starter and General accounts, there is a flat fee of 0.01% maker and 0.25% taker. For the Upgraded account type, a commission depends on the trading volume for the last 30 days. The maximum commission applies for traders trading from 0 to 10 BTC per month: 0.09% maker and taker. The minimum commission is 0.01% maker (rebate) and 0.02% taker for traders whose turnover exceeds 100,000 BTC during the last 30 days. The cryptocurrency exchange has transaction limits. Please contact the support team on the exchange website for details.
| Account type | Spread (minimum value) | Withdrawal commission |
| Starter | 0.25% | No |
| General | 0.25% | No |
| Upgraded | 0.057% | No |
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 HitBTC suitable for beginners?
Analysis of HitBTC 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
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.
Can the minimum deposit differ depending on the trading account type?
Yes. Brokers often encourage clients to deposit large amounts to the account by offering better trading conditions.
What are non-trading fees?
Non-trading fees are the fees charged outside the trading process, for example deposit and withdrawal fee, inactivity fee, etc.
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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.