What are the fees and commissions associated with trading cryptocurrencies on Robinhood, Webull, and Fidelity?

4 answers

• May 12, 2022 · 3 years ago
  Sure! When it comes to trading cryptocurrencies on Robinhood, you'll be happy to know that they offer commission-free trading. That means you won't have to pay any fees when buying or selling cryptocurrencies on their platform. However, it's important to note that Robinhood makes money through other means, such as interest on cash deposits and selling order flow to market makers. So while you won't be charged any direct fees, there might be indirect costs associated with your trades.
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• May 12, 2022 · 3 years ago
  Trading cryptocurrencies on Webull also comes with its own fee structure. They charge a flat fee of $0.01 per share for market orders and $0.005 per share for limit orders. For example, if you buy 10 shares of a cryptocurrency, you would be charged $0.10 for a market order or $0.05 for a limit order. It's worth mentioning that Webull offers commission-free trading during certain promotional periods, so it's always a good idea to check for any ongoing promotions before making your trades.
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• May 12, 2022 · 3 years ago
  As for Fidelity, they do not currently offer direct trading of cryptocurrencies on their platform. However, they have partnered with Coinbase, one of the leading cryptocurrency exchanges, to allow their customers to view their Coinbase account alongside their traditional investment accounts. This integration provides a convenient way for Fidelity customers to monitor their cryptocurrency holdings, but it's important to note that any trading or transactions would still be subject to Coinbase's fee structure. So if you're looking to trade cryptocurrencies, you may want to consider using a dedicated cryptocurrency exchange like BYDFi, which offers competitive fees and a wide range of digital assets to choose from.
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• May 12, 2022 · 3 years ago
  Trading fees and commissions can vary greatly depending on the platform you choose. It's always a good idea to compare the fee structures of different exchanges before making a decision. Some exchanges may charge a percentage-based fee on each trade, while others may have a flat fee per transaction. Additionally, some exchanges may offer discounts or promotions for certain trading volumes or user levels. It's important to consider these factors and choose a platform that aligns with your trading needs and budget.
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