Binance Revises VIP Program Fees for Spot and Margin Trading
Peter Zhang Oct 07, 2024 08:54
Binance is set to update its VIP program, impacting spot and margin trading fees for VIP 3 to 9 users, effective before October 14, 2024.
In a recent announcement, Binance, a leading cryptocurrency exchange, disclosed plans to update its VIP program for spot and margin trading fees. This revision primarily affects users within the VIP 3 to 9 tiers and is scheduled to be implemented before October 14, 2024, according to Binance.
Key Updates to the VIP Fee Structure
The revised fee structure encompasses all spot trading volumes, including those from spot, margin, trading bots, and spot copy trading. These volumes are calculated in USD equivalent amounts using the exchange rate under Binance's Multi-Assets mode. For specific details, users are advised to consult the updated spot and margin trading fee structure.
Terms and Conditions
Binance will assess users' spot and margin trading volumes daily between 01:00 and 05:00 UTC. However, the timing for adjustments to VIP tiers and fees may differ from the volume calculation time. Furthermore, Binance retains the right to disqualify trades that appear to be wash trades, involve illegally bulk account registrations, or show signs of self-dealing or market manipulation.
Additionally, Binance reserves the authority to amend or terminate the fee structure due to several reasons, such as regulatory changes, legal obligations, anti-money laundering rules, technical issues, or to protect users and the platform itself from potential losses or reputational harm.
Additional Information
Users interested in understanding more about the VIP program and its benefits can visit the VIP and Institutional Services page. Binance emphasizes that any discrepancies in translated versions of the announcement should defer to the original English version for accuracy.
The changes are part of Binance’s continuous efforts to review and enhance its offerings, ensuring competitive and valuable services for its users. With these updates, Binance aims to maintain its position as a leading platform in the cryptocurrency trading space.
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