Fee Schedule
Fee Schedule
Wire Transfers
Withdrawal Fees
| AED* | 55 |
| USD | 15 |
Please Note: Depending on the currency requested and remittance/ payment channel an additional conversion fees shall be applied by foreign / correspondent banks as appropriate.
FX Translation
MidChains Rate
| Currency | Fee |
|---|---|
| CHF | Spot Rate |
| EURO | Spot Rate |
| USD | Spot Rate |
| GBP | Spot Rate |
| AED | Spot Rate |
No Commission (Principal Trading Model)
Minimum VA Deposit and Withdrawal
Minimum Deposit and Withdrawal Amount
| Currency | Amount |
|---|---|
| Bitcoin Cash (BCH) | 0.05 BCH |
| Bitcoin (BTC) | 0.001 BTC |
| Litecoin (LTC) | 0.05 LTC |
| Ethereum (ETH) | 0.05 ETH |
VA Deposit and Withdrawal Fees
Withdrawal Amount
| Currency | Deposit Fee | Withdrawal Fee |
|---|---|---|
| Bitcoin Cash (BCH) | – | Network Fee |
| Bitcoin (BTC) | – | Network Fee |
| Litecoin (LTC) | – | Network Fee |
| Ethereum (ETH) | Variable on-chain fee to move into MidChains Wallet | Network Fee |
Trading Fees
MidChains adopts a volume-based fees tiers approach in determining its trading fees. Orders are charged differently depending on the volume transacted as either a Maker or a Taker.
You become a Maker when you place an order that does not fill immediately (like a limit order). These orders could either be Buy or Sell orders that will sit on the Order Book without executing immediately. A Maker Fee will apply to orders that provide liquidity to the Order Book below the ticker price for a Buy Limit order and above the ticker price for a Sell Limit order.
You become a Taker when your orders immediately fill in full against orders already on the Order Book. When you place an order that trades immediately, by filling fully, before being recorded in the Order Book for those that are not immediately filled. Trades from Market orders are always takers, as Market orders do not go on the Order Book. These trades take volume off the order book.
MidChains provides rebates and fees discounts to Makers and Takers respectively. Fees are charged based on the notional value of trade volumes executed.
This implies that when you place an order that takes liquidity from the market you will be charged the Taker fee but you will enjoy lesser fees based on the volumes of your trades, whereas when you place orders that provides liquidity on the market you will not be charged transaction fees on your trades, instead, you enjoy rebates from fees collected on the taker side transaction also determined by the volumes of your transactions.
MidChains has introduced a fee structure that calculates a user’s trading fees based on the user’s previous 30-day trading volume as shown in the table above. Where sufficient volume is traded over a calendar month for maker trades the fee will be a rebate (negative trading fee). For every executed order, there is either a Trading Fee (can be 0 rate) or a Trading Rebate incurred.
** Please Note: This fees structure is only applicable to trades executed on the trading platform. The trading fees is inclusive of 5% Value Added Tax (VAT) for individuals and companies located in UAE in line with the VAT Decree-Law No. (8) of 2017, its Cabinet Decision No. (52) of 2017 on the Executive Regulation on Value Added Tax and the associated Guides and Clarifications issued by the Federal Tax Authority (FTA).
Pricing Tier on Daily Average Volume Over 30 days
| Trading Volume | Maker Rebate (No fees Charged) | Taker Fees |
|---|---|---|
| Up to $500k | N/A | 0.40% |
| $500k-1mn | N/A | 0.30% |
| $1-5mn | 0.03% | 0.20% |
| +$5mn | 0.05% | 0.10% |
Please Note: This fees structure is only applicable to trades executed on the trading platform. The trading fees is inclusive of 5% Value Added Tax (VAT) for individuals and companies located in UAE in line with the VAT Decree-Law No. (8) of 2017, its Cabinet Decision No. (52) of 2017 on the Executive Regulation on Value Added Tax and the associated Guides and Clarifications issued by the Federal Tax Authority (FTA).
