Maker and taker trading fees
Maker orders add resting liquidity to an order book; taker orders immediately match existing liquidity. Venues often charge them differently, but order type alone does not guarantee maker status or better execution.
Classification happens at execution
A limit order that crosses the book executes immediately and is usually taker flow. A post-only instruction can prevent that outcome by cancelling or repricing under venue rules.
Fee schedules vary by product, account tier, promotions, and payment method, so fixed percentages become stale quickly.
Fee is only one cost
A maker order may miss the trade or be filled just before price moves against it. A taker order pays for immediacy but may reduce timing risk.
Evaluate fee, spread, slippage, fill probability, and adverse selection together.
Frequently asked questions
Is every limit order a maker order?⌄
No. A marketable limit order can execute as taker.
Is the lower fee always better?⌄
No. Missed fills and adverse selection can exceed the fee difference.
Compare execution costs →