Coinbase cryptocurrency exchange Pro will change the structure of commissions and make unavailable to the market stop orders. This was reported in the blog of the marketplace.
According to representatives of stock exchanges, changes that will take effect March 22, will enhance the liquidity of the platform and more efficient pricing.
One of the main changes is a new structure of commissions. If earlier the Board of teyker with a monthly turnover of up to $100 000 was 0%, from March 22 it will be 0.15%.
Trader Alex Kruger for his tweet attached a spreadsheet that compares current and upcoming trading commissions exchange:
According to him, the majority of users of Coinbase Pro belong to the first group. Therefore, the total amount of trading commissions, in fact, increases. In this case the winners are the large traders.
Kruger suggested that many members of American stock exchange can go to the largest trading volume platform Binance, where the Commerce Commission is significantly lower:
Most Coinbase customers fall under the first tier, the one subsidizing larger clients. Now all US exchanges are a rip-off.
Compare Coinbase”s fees with Binance’s. In a rational world, most clients would Coinbase now move to @binance. @cz_binance should be celebrating. pic.twitter.com/TRbIiWuxyk
— Alex Krüger (@krugermacro) 15 March 2019 R.
The manual Coinbase Pro made unavailable to the market stop orders, leaving only a stop-limit orders. Kruger called the decision absurd, because, in his opinion, a stop-limit order will trigger a market worse and more prone to so-called slippage in a period of strong price movements.
Coinbase is also “turning off” market stop market orders. Only stop limits are available. Which is absurd. Stop-limits sometimes fail to execute due to slippage.
Simple solution: use far off limits, turning the stop-limits in de facto stop-market orders.https://t.co/7zsXEMemVZ
— Alex Krüger (@krugermacro) 15 March 2019 R.
We will remind, the client base of services in the United States the largest cryptocurrency company decreased slightly after social networks was launched the hashtag #DeleteCoinbase. It happened after the acquisition of a startup analytic Neutrino, known for his hostility to privacy and questionable cooperation with the dictatorial political regimes.
Source
