We are happy to announce that as we are getting closer to launch we've updated and expanded our fees structure. Here's how it's going to look:
Trading fees saw the most changes. The flat fee structure has been revised to reward market makers with large trading volumes and facilitate liquidity on the exchange.
Market-maker fees apply when you add liquidity to the COVESTING order book by placing a passive limit order below the mid-spread for buy orders and above the mid-spread for sell orders.
Market-taker fees apply when you execute trades by matching existing orders in the order book.
Liquidity aggregation fees - additional third-party exchange fees are already included in these rates. All trading fees will be shown to the user in the order form before placing such an order.
There are different fees for cryptocurrency and fiat currency deposits/withdrawals.
Cryptocurrency deposit: Free
Cryptocurrency withdrawal: Withdrawal fees are adjusted according to blockchain conditions and can be seen in withdrawal request window
Please note that for security reasons, COVESTING maintains limited cryptocurrency balances in its online hot wallet. In some cases, we will need to manually refund the hot wallet, and/or manually review and approve large transactions, which may take up to 12 hours.
Wire deposits/withdrawals are usually processed within 5 business days.
Сopy-trading fees weren't changed from the pre-established fees we've set in our White Paper.
Entry fee is deducted from the invested amount every time you start following a trader.
Platform fee is deducted from all profits earned by following a trader at the moment when you unfollow the trader.
18% trader success fee will be charged from all earnings and deducted only in case copy-trading resulted in a profit.
COVESTING reserves the right to review and change any fees and such changes shall become effective from the moment they are published on the "Fee Schedule" page found at https://covesting.io/fees. Any change to our fee schedule will be emailed and/or posted in the Announcements section no fewer than three (3) calendar days before the changes are due to take effect.