Updated by Akojeh Melina
Taker and maker fees are charged when you're increasing the size of the order book or decreasing the size of the order book. When you're increasing the size of the order book, you're charged a maker fee and when you're decreasing the size, you're charged a taker fee.
When you create an order that is immediately matched with existing orders, you're a taker because you take liquidity from the market. When you add an order that doesn't match existing offers, you add liquidity to the market and are charged a maker fee.
An order gets charged a Maker Fee if the trade order is not matched immediately against an order already on the order book. These orders are typically not completed immediately and you only get charged when someone else (taker) completes your order.
Taker fees are charged when you place a Market Order or if your Limit order matches an already existing order on the order book. Taker orders are filled immediately and the estimated fee to be charged will be displayed on the trade page. This means you're charged when you complete someone else's order.
Three important details are displayed on the order confirmation page:
- Estimated Price: The estimated price your Market Order will be completed at.
- Estimated Fee: The estimated taker fee you will be charged for your Market Order.
- Estimated Total: The estimated coin amount you will receive for your trade.
This means you may receive a different coin amount for your trade, other than what is displayed on this page.