The fee schedule below provides the applicable rate based on the account's 30-Day Volume and if the order is a maker or taker.
0.45% Maker – 0.45% Taker
Trading fees are incurred when an order is filled by the WAVE Exchange matching algorithm. When an order executes the buyer and the seller are each charged a fee based on the total price of the executed order. The fee (commission) charged by WAVE Exchange on each executed trade is calculated by taking the (amount * purchase price * rate) for the given trade. The fees will always be charged in the traded quote currency. There are no fees for placing an order which does not execute. Any portion of an order that has not executed will be refunded fully upon the cancellation of the order.
Fees vary by the currency pair being traded. WAVE Exchange reserves the right to change the commission rates at any time, including providing other discounts and temporary incentive programs.
All executed trades in our matching algorithm are between an existing order that is on the order book and a newly placed order. The order that is already on the order book is the ‘Maker’ order. The newly placed order is the ‘Taker’. The fees charged to the buyer and a seller in a transaction are based on which order is the maker and which order is the taker. If a newly entered order doesn’t immediately match with any orders already in the system or is not completely filled by existing orders on the order book, the remainder of the order goes onto the order book and becomes a potential maker order for a future trade.
Example: In the BTC-WAVE market, assume there is a sell order for 7500 WAVE on the order book (the maker order). If a trader places a buy order for 10000 WAVE that matches the 7500 WAVE order’s price, there will be one trade for 7500 WAVE where the newly entered order is the taker. If the remaining 2500 WAVE from the new order does not match with another order already on the book, it will be placed on the buy side of the order book and will potentially be the maker order of another future trade.
Maker orders create (make) liquidity on a market by being entered onto the order book. In other words, maker orders are not filled when they are placed but instead wait until a future order is placed that matches them. A maker order can be on either the sell side or a buy side of the order. When an existing order on the order book is matched with a newly placed order (the taker), the maker order in the transaction is charged the maker fee.
Taker orders reduce (take away) liquidity on a market. Orders which execute immediately and take volume off the order book are takers. A taker order can be on either the sell side or buy side of the order. When a new order is placed and it matches against another order already on the order book (the maker), the taker in the transaction is charged the taker fee.