Huobi Global 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 Huobi Global fees and minimum deposit requirements to help prospective crypto traders make informed decisions.
Short introduction of Huobi Global
Huobi Global (pronounced “haw-be”; with “huo” meaning “hot” or “popular” and “bi” meaning “coin” or “currency” = “popular currency”) is a global cryptocurrency exchange that was founded in China but is headquartered in Seychelles. The work of the international company Huobi Global started in 2013. The cryptocurrency exchange allows traders to carry out transactions with a variety of assets, including about 300 currency pairs and cross rates. There is no information on whether this company is licensed and the exchange hasn’t received any awards during its brief activity. More about the safety of cooperation with Huobi.
👍 Advantages of trading with Huobi Global:
•a vast array of trading instruments;
•the minimum level is US$1;
•the site is integrated for clients worldwide.
👎 Disadvantages of Huobi Global:
•lacks a demo account;
•few ways to contact support;
•the activities of the cryptocurrency exchange are not licensed or regulated by any authority;
•clients' financial assets are not protected by segregated accounts or compensation payments in the event of an exchange liquidation;
•there are no training materials or courses for users on its website.
Huobi Global Commissions and Fees
Traders Union specialists checked the Huobi Global cryptocurrency exchange for the presence of explicit and hidden fees. No hidden fees were found, and the trading fee for opening orders is 0.2%. The exchange does not charge users a trading fee for deposits or withdrawals, but be careful because commissions are often set by payment systems (Visa, PayPal, etc.)
| Account type | Spread (minimum value) | Withdrawal commission |
| Standart | $18 | Absent |
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 Huobi Global suitable for beginners?
Analysis of the Huobi Global trading conditions has shown that it is beneficial to work with the broker. The level of fees is low. Also, the company offers a low minimum deposit, which makes Huobi Global a good choice for beginners. The company offers good trading conditions even compared to competitors.
FAQs
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.
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.