how to trade binance futures and what are the fees

How to trade Binance futures? What are the fees?

Welcome,

in this guide, we will teach how to trade Binance futures and we will review the fees associated with this.

Binance is one of the largest and best crypto and Bitcoin trading platforms.

If you are about to trade crypto futures anywhere, this is a place you want to consider.

What are Binance futures?

Binance futures let you get exposure to the cryptomarket without having to hold the underlying cryptocurrency.

Like any other future Binance futures allow you to speculate on the future price of a certain cryptocurreny.

How to trade Binance futures?

Let us take you through, step-by-step how to trade Binance futures.

1. Create an account with Binance

First, you must create an account with Binance. Use our link to get to Binance and once there click on Register in the top right corner of your screen.

Binance Referral Code: -20% on all commissions with our link

Now you will need to register with email and a safe password. Our referral ID is 12109086.

Click on “Create account” and verify your email.

2. Login to you Binance account

Login into your Binance account and click on Futures in the header menu.

Here you have two options

  1. USDT futures – USDT margined with no expiration and up to 125x leverage
  2. COIN futures – Toknen margined with or without expiry dates and up to 125x leverage
Binance USDT and COIN futures

3. How to fund your Binance futures wallet?

You need to fund you Binance futures wallet before you can start trading with Binance futures.

You fund your futures wallet by clicking on the “Transfer” button. You need to have funds in your Binance spot wallet to be able to do this.

If you don´t have any funds in your Binance spot wallet you need to deposit funds to Binance. You can click the Deposit button next to the transfer button. In addition, there is a button that takes you directly to Buy Crypto. Here, you can buy with Credit Card, P2P or other payment options.

Fund you Binance futures account

Once you have clicked the Transfer button you will see a screen as the screenshot below.

Here you can transfer from spot wallet to you Binance futures wallet, or vice versa. Also, you can choose what coin to transfer (USDT or BNB).

Fill in the form and click Confirm.

 

Binance transfer funds to futures wallet from exchange wallet

4. Understand the Binance futures interface

Now we need to understand the Binance futures interface.

In the screenshot below you can see the 5 main categories

  1. Menu – Here you can switch between USDT and COIN futures. Also, you find API and general information.
  2. Price chart – Here you can switch between Tradeview and Original in the upper right corner. Also, you can switch what cryptocurrency pair you want to watch in the top menu.
  3. Trading activity panel – Here you find current positions and open orders. In addition, you find history for orders, trades and transactions.
  4. Margin overview – Here you can see how much margin you have used. Once you reach 100% you positions will get liquidated.
  5. Order entry field – Here you set all your criteria for your trade.
Binance futures interface overview

5. How does Binance order entry field work?

As stated above you enter all your trading criteria in the order entry field.

Let’s look at what options there are.

  • Place order – Headline
  • VIP 0 – This is our VIP level and is connected to what fees we will pay. See more in the next section
  • Limit – Right now we are about to make a limit order
  • Market – If you want to make a market order
  • Stop Limit
  • Stop Market
  • Trailing Stp
  • The yellow arrow is a button for “Transfer”
  • The calculator helps you calculate different outcome scenarios from your trade
  • Price: Current price
  • Size: Order size in BTC
  • TP/SL: Click here if you want to set a take profit price or a stop-limit price
  • Reduce only will only reduce your position, not close it
  • Buy/Long or Sell/Short. Read more about how to short on Binance.

Binance Referral Code: -20% on all commissions with our link

Binance order entry field

Binance Futures Fees

As you can see in the table below all the Binance COIN futures fees are listed. Binance futures are based on a maker and take fee schedule.

The COIN futures fees doesnt have any BNB rebate as USDT futures.

Maker fee: from -0.009% to 0.015%

Taker fee: from 0.024%to 0.04%

These are the lowest futures trading fees we have seen.

For a full review on the Binance fee, see Binance trading fees and how you can get a rebate with Binance coin.

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