What is a fee rebate? Why a referral code means lower trading fees
Short answer
When you sign up with a referral code, the exchange pays part of every trading fee back into your exchange account. If you add the referral code when you sign up, the exchange pays part of your fees back: 20% at both Binance and OKX.
- The exchange pays the rebate to you directly. We never handle your money.
- No trading, no rebate. Don't trade more just to get it.
In one line
The exchange pays part of the fees you pay back to you.
An example
You trade 50,000 USDT of spot at Binance in a month. At 0.1% the fees come to 50 USDT. With a 20% rebate, 10 USDT comes back to your account.
Where it comes from
The exchange pays the referrer a share of the fees, and the referrer can pass some of it to the person they referred. The most the exchange allows a referrer to pass on is 20%, and that is what we set.
Related
FAQ
Do I pay higher fees if I use a referral code?
No. The rebate comes out of the fees the exchange already charges, so your fee rate is the same as without a code.
Can an existing account get the rebate?
It depends on the exchange. Binance lets you add a code within 30 days of signing up if you haven't deposited or traded yet; OKX doesn't. Whether an older account can be recalled or switched is covered on our page about existing accounts.
Can I withdraw the rebate?
Once it's in your exchange account, it's your money. You can trade with it or withdraw it as usual.