I suggest you ...

Explain the Fees Better

Your tiered fee schedule does not specify what is the basis for the fee - the entire order placed, or the size of the partial fulfillment.

For example, if I place trades in 500 gram increments, will I always get the lowest fee? Or, if a smaller order is matched to mine, resulting in a partial fulfillment, do I get hit with a higher fee?

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    Ken Griffith shared this idea  ·   ·  Admin →
    completed  ·  Philip Scigala responded  · 

    Sorry for the confusion.
    The fee only applies if your order gets executed if you trade 500 gram in increments every incremental trade there is a percentage fee applied. If it executes just as one trade with 500 gram there is just one time fee applied. Since it is a percentage it does not matter it will be always the same fee for 500 gram, incremental or not. If you cancel your order before it is fulfilled, there is no fee.

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      • Dave Scotese commented  · 

        I just noticed an error in the Fees and Charges section:
        0.3% per trade from 500.001- 5000
        should say this instead:
        0.3% per trade from 1500.001- 5000

      • Dave Scotese commented  · 

        To be clear, and Philip can correct me if I'm wrong, the size of the current trade (the one being executed and thereby incurring a fee) has nothing to do with the fee. The most complex case would be very unlikely, but here's my guess:
        You place an order for 5001 grams. The fee is 0.5% of the value of 500 grams, plus 0.4% of the value of 1000 grams, plus 0.3% of 3500 grams, plus 0.2% of one gram. This is true whether your 5001 grams is purchased in one transaction or spread over many transaction that take up to 30 days. If it takes longer than 30 days to execute, then it's only true for the amount traded during those first 30 days. If you traded 10 grams on the first day (31 days ago) then the fee on the other 4991 will be as described above, except that the last 10 grams you buy will be at 0.3% and you won't get any at only 0.2%, and that's assuming that you traded the entire remaining 4991 grams within the 30 days.

        If someone tests this, a good question would be whether or not the site does the calculation correctly when your trade volume crosses a threshold. For example, if you do a trade that causes your 30-day volume to go over 500 grams, does that trade get two fees, one at 0.5% for the amount up to 500 grams, and the other at 0.4% for the amount over 500? I can see myself making a coding error that would do the whole thing at 0.5% without any intention of cheating. Well, not any more, but before I thought about it, maybe :-).

      • Chris commented  · 

        How about a trade fee schedule with storage fees, in visual form.

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