By Neil Vose, CMO
One consistent theme that is mentioned to us by active traders is the expense of trading and often the opaque nature of fee structures.
Today, traders are either being charged a variable mark up on their bid/offer price; or a variable fee based on trading volume. This amounts to significant aggregated charges to the trading community. Indeed, our research* suggests that active traders are paying circa $3.5bn per year on commission to exchanges. So, it’s big business for exchanges.
We believe there is a better way to work with active traders.
From launch, Aquarius will not add any mark up or charge trading fees for any customer type. No hidden charges.
Instead, our business model is predicated on an unambiguous pricing structure. For example, for occasional traders or new ‘on ramp’ customers, this means a totally free experience using the Aquarius exchange (aside from the usual deposit and withdrawal costs from third party banks/wallets). At the other end of the spectrum, our customer relationship with institutional/high frequency trading communities will also not be based on trading fees, rather a bespoke cost based on requirements such as API connectivity or colocation services.
Currency trading will probably never be totally zero fee across the value chain. What we are trying to do is offer a clear and accessible pricing structure to suit the divergent needs of different customer types.
*based on average daily volume of 10bn USD *0.1% *365