NDAX 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 NDAX fees and minimum deposit requirements to help prospective crypto traders make informed decisions.
Short introduction of NDAX
The Canadian NDAX exchange is a cross-functional trading platform for cryptocurrency and coins. You can find here pairs with Bitcoin (₿), Litecoin (Ł), Ethereum (Ξ), Tether (₮), Ripple, Cardano, and other assets. Only the Canadian dollar represents fiats. The website has a standard trading terminal, an API, an OTC trading service, and a three-level referral program. Moreover, trading fees are fixed at 0.2% and don’t depend on trading volumes. There are no demo accounts and no minimum deposit. The exchange is positioned as one of the most stable and fastest in the region. Transactions are quick, and all transfers with the participation of cryptocurrencies are carried out instantly, while transfers with the Canadian dollar take no more than 1 business day for deposits and withdrawals. The website is officially registered, and its license is valid.
👍 Advantages of trading with NDAX:
•variety of cryptocurrency-to-cryptocurrency pairs;
•the Canadian dollar is traded with almost all cryptocurrencies and coins;
•high transaction speeds for trades, deposits, and withdrawals;
•high level of platform security provided by multi-level encryption;
•fixed trading commissions of 0.2% don’t depend on the trading volume and other factors;
•there are no deposit fees; withdrawal fees are low and fixed and don’t depend on the withdrawal amount;
•integrated OTC trading service and institutional account solutions;
•instant crypto function for the free transfer of cryptocurrencies, coins, and fiats between exchange clients.
👎 Disadvantages of NDAX:
•no investment solutions;
•there are no solutions for novice traders (for example, demo accounts).
NDAX Commissions and Fees
The trading commission is standard for all activities. It is always 0.2% for a taker and a maker, regardless of the pairs traded, trading volumes, etc. The only thing that can affect the size of the commission is getting bonuses from the Traders Union. The "Commissions" section of the website provides an online calculator for calculating a trading commission based on the volume of a transaction.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | 0.2% per transaction | Yes |
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 NDAX suitable for beginners?
Analysis of NDAX 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
Why do some brokers set a high minimum deposit?
Many companies with high minimum deposits are focused on working with professional traders with experience and large capital. Therefore, they set a high entry threshold.
What deposit amount should a beginner start with?
Some brokers offer a minimum deposit of $1. However, it is recommended to deposit at least $300-500 to the account to be able to trade fully.
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.
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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.