How to calculate the transaction fee of EuroEasy contract

To calculate the EuroEasy contract transaction fee on OKX, multiply the trade size by the fee rate, and adjust for applicable VIP tier discounts if available.

Oct 26, 2024 at 07:25 pm

How to Calculate Transaction Fees for EuroEasy Contracts

Step 1: Understand Fee Structure

The EuroEasy contract transaction fee on OKX is a flat fee charged per trade. The fee amount varies depending on the trading pair, as shown in the table below:

Trading Pair	Fee
EUR/USD	0.005%
EUR/GBP	0.005%
EUR/JPY	0.005%

Step 2: Determine Trade Size

The trade size refers to the quantity (in Euros) that you are trading. For example, if you are trading 100,000 EUR on EUR/USD, the trade size would be 100,000.

Step 3: Calculate Base Fee

The base fee is calculated by multiplying the trade size by the fee rate. For example:

Base Fee = Trade Size x Fee Rate

Base Fee = 100,000 x 0.005%
Base Fee = 5

In this case, the base fee for a trade of 100,000 EUR on EUR/USD would be 5 Euros.

Step 4: Adjust for Tier Discounts (Optional)

If you hold a higher VIP tier on OKX, you may be eligible for fee discounts. The discount percentage depends on your tier level. You can calculate the discounted fee by multiplying the base fee by (1 - Discount Percentage). For example, if you are a Bronze VIP and have a 10% fee discount:

Discounted Fee = Base Fee x (1 - Discount Percentage)

Discounted Fee = 5 x (1 - 0.1)
Discounted Fee = 4.5

In this case, your discounted fee for the trade would be 4.5 Euros.

Example Calculation

Let's say you want to trade 50,000 EUR on EUR/JPY and you are a Silver VIP with a 5% fee discount:

1. Base Fee = 50,000 x 0.005% = 2.5 Euros
2. Discounted Fee = 2.5 x (1 - 0.05) = 2.375 Euros

Therefore, the transaction fee for your trade would be 2.375 Euros.