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Fees

Fees are automatically applied to trades and withdrawals. You don't need to calculate or deduct fees yourself — the platform handles it transparently.

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The specific fee structure (rates, types, and operations covered) varies depending on your contract with MagFi. The examples below illustrate how fees are calculated and applied, but your actual rates will be defined in your agreement. Reach out to the MagFi team if you have questions about your fee configuration.

How Fees Work​

When a customer places a trade or initiates a withdrawal, the platform automatically:

  1. Calculates the total fee based on the configured fee rules
  2. Deducts the fee from the order amount before execution
  3. Settles the fee after the operation succeeds

The customer sends the full amount they want to trade or withdraw, and the platform adjusts it behind the scenes. For example, if a customer places a $100 buy order and the total fee is $1.60, the platform sends a $98.40 order to the market and collects the $1.60 fee separately.

Fee Calculation​

Fees can be composed of multiple rules that stack together. All rules are calculated against the original order amount — one rule does not reduce the base for another.

Example: a percentage fee + a flat fee on a $100 order

percentage fee: $100 × rate      = $1.50
flat fee:       fixed per trade  = $0.10
────────────────────────────────────────
total fee:                         $1.60
net order:                        $98.40

The same fee structure on a $10 order

percentage fee: $10 × rate       = $0.15
flat fee:       fixed per trade  = $0.10
────────────────────────────────────────
total fee:                         $0.25
net order:                        $9.75

The net order amount is what actually gets executed on the market. The customer's Go Account balance reflects the full $100 (or $10) debit, inclusive of fees.

Multiple fee rules do not compound on each other

When more than one fee rule applies, each rule is calculated from the original order amount, not from the amount left after the previous fee is deducted.

When Fees Apply​

Fees can be configured for different operations across the platform. Depending on your contract, fees may apply to any combination of the following:

Trades​

Trade fees apply to buy orders where the quantity is specified in the quote currency (e.g., "buy $100 worth of BTC"). The fee is deducted from the USD amount before the order is sent to the market.

Not every trade is fee-bearing

Trade fees are typically applied to quote-currency buy flows such as "buy $100 of BTC." Sell orders and buy orders expressed in the base currency do not follow the same fee behavior.

  • Sell orders are not subject to trade fees
  • Buy orders specifying quantity in the base currency (e.g., "buy 0.1 BTC") are not subject to trade fees

Deposits​

Deposit fees apply when funds are received into a Go Account (e.g., incoming crypto transfers or fiat deposits). The fee is calculated and collected when the deposit is detected.

Withdrawals​

Withdrawal fees apply to crypto withdrawals. The fee is deducted from the withdrawal amount before the transaction is sent. For crypto withdrawals, amounts are calculated in the smallest unit (e.g., satoshis for BTC).

The requested withdrawal amount is not always the amount the destination receives

If a crypto withdrawal fee is configured, the fee is removed before broadcast. The destination receives the net amount after fee deduction, not the original requested amount.

Account Registration​

A one-time fee that can be charged when a new customer enterprise is registered on the platform.

Fee Settlement​

After a successful trade or withdrawal, the fee is automatically settled — transferred from the customer's Go Account to your organization's account. This happens in the background and requires no action from your side.

If the order fails, no fee is charged and no settlement occurs.

Rounding​

Fee calculations use banker's rounding (half-even) to avoid systematic bias. When a fee amount falls exactly on the 0.5 boundary:

  • If the digit before is even, round down (e.g., $2.50 → $2)
  • If the digit before is odd, round up (e.g., $3.50 → $4)

Next Steps​