How to with Arthur: What are trading fees
BOTS wants to make sure that everyone in the world has the opportunity to build a second, passive income through investing. To do so, we need the help of our bot creators. But what can you expect from us, what do we expect from you, and how do things work? Let's tell you all there is to know.
Let’s take a look at the trading fees. How are trading fees, management fees and performance fees calculated, and maybe most importantly: how do you as a bot creator get paid? Let’s dive in.
How fees are divided
So your bot is a great success, and everyone’s been making money with it. Now what? How do you withdraw your fees, and how are they calculated? An average transaction on the BOTS platform comes with a certain fee. A fee that is used to support both the BOTS platform and the bot creators.
We’ve promised the BOTS app users that the fees won’t be more than 0.2%. This 0.2% will be divided as follows: 50% will go to the exchange, and the other 50% will be equally split between BOTS and the bot creator.
Good to know, but obviously, you’d also like to see how this money ends up in your pocket. Well, that needs some explaining.
How fees are calculated
As mentioned before, fees are calculated in several ways. To make things easier, we’ll use Basic Points for these calculations. One BS equals 0.01%.
● Firstly, your transaction fee will be based on how often you trade. Say you trade 0–2 times a month; you will get 1BP. But if you trade 2–10 times a month, you will get 3BP. Do you trade 10+ times a month? Then you’ll end up with 4BP.
● Secondly, there are the management fees. These are specifically for the bot creators that release bots with a lower trading volume. To make it worth their while, these bots get an additional management fee on top of their 1BP. This management fee is 2.5BP per week, depending on the number of assets you have under your management. This way, releasing less frequently trading bots will still be worth your while.
● And last but not least, there are fees distributed in the Performance Pool. The Performance Pool is an assembly of the best performing bots. The Performance Pool is selected each month, which means that new fees will be distributed every month.
How it works? Pretty straightforward. Say we have 100K to distribute in a specific month. In this case, the best performer of that month gets 25% of that 100K. The runner-up receives 15%, third place receives 10%, and the remaining 55% will be distributed to the rest of the bots in the ranking.
Now that you know how fees are divided and calculated, you’ll probably be eager to learn how to withdraw your earnings. The answer is quite simple: in the BOTS app! All these fees will be distributed to your BOTS wallet, and you’re free to withdraw them from here whenever it suits you!
Join the BOTS community
Now, do you have any questions about the bots in the BOTS app? Please reach out to our support team. You can contact them right here. Or, if you’d like a quick fix, you can check the FAQ on our website, our YouTube channel or join other BOTS users at the BOTS Discord channel!
Are you an ambitious bot creator, and would you like to know how to get things started? Check our bot creator page!
BOTS is a tech company that has developed an app that makes it possible for anyone to start investing. You only need €50 to get started. BOTS uses automated trading strategies based on algorithms. We call these algorithms bots. These bots are tiny superheroes: they make automated investing accessible to everyone. With their help, you can invest in cryptocurrency within minutes — without any knowledge! And we’ll do you one better… In 2021, you’ll also be able to invest in stocks and other currencies through the BOTS app.
The app is free to download and quick and easy to install. BOTS currently operates in more than 15 countries, and by the end of the year, BOTS wants to be active in at least 60 countries and four continents.
Need any help with anything?
Even though automated investing is incredibly easy, you might need some time to find your way around the app and discover all the options. So if you still have questions wandering around your mind, or you just can’t seem to figure it out, please do not hesitate to contact the BOTS support department.
Don’t feel like calling our support team? Just head to the BOTS YouTube channel and browse through the dozens of instructional videos that may help you further. You are also royally invited to the BOTS Discord channel.
Ready to get started?
There is no such thing as risk-free trading. It is possible to lose (part of) your stake.