Fees
Buying and selling on Quebex.com
If you are the one who posts an ad (the maker)
| If you will get... | Off-site CAD | On-site CAD | BTC | LTC | ETH |
|---|---|---|---|---|---|
| for your Off-site CAD | / | / | 2.9% | 3.9% | 3.9% |
| for your On-site CAD | / | / | 3.9% | 3.9% | 3.9% |
| for your BTC | 2.9% | 2.9% | / | 2.9% | 2.9% |
| for your LTC | 3.9% | 3.9% | 3.9% | / | 3.9% |
| for your ETH | 3.9% | 3.9% | 3.9% | 3.9% | / |
These fees are taken in addition to what you have traded (e.g. if you sell 1 BTC, and the fee is 1%, we will deduct 1.01 BTC for the sale), except when you are offering CAD in which case the fee will apply to the crypto currency you receive (e.g. you send $1, 000 CAD via e-Transfer for 1 ETH, and the fee is 3.9%, you will receive 0.961 ETH).
If you are the one buying from / selling to an ad (the taker)
| If you will get... | Off-site CAD | On-site CAD | BTC | LTC | ETH |
|---|---|---|---|---|---|
| for your Off-site CAD | / | / | 3.9% | 3.9% | 3.9% |
| for your On-site CAD | / | / | 3.9% | 3.9% | 3.9% |
| for your BTC | 2.9% | 2.9% | / | 2.9% | 2.9% |
| for your LTC | 3.9% | 3.9% | 3.9% | / | 3.9% |
| for your ETH | 3.9% | 3.9% | 3.9% | 3.9% | / |
These fees are taken from what you will receive (e.g. if you buy 1 BTC, and the fee is 1%, you will receive 0.99 BTC from the purchase), except when you are receiving CAD in which case the fee will be in addition to the crypto currency you send (e.g. you want to sell 1 ETH for $1, 000 CAD and be paid via e-Transfer, and the fee is 3.9%, you will have to escrow and pay 1.039 ETH to get the $1, 000 CAD).
Trading fees are subject to change.
Automated Transaction Settlement
When trading between pairs of crypto currencies (e.g. BTC and LTC, or LTC and ETH, or ETH and CAD Quebex Balance), it is possible for Quebex to settle your trade without any intervention.
In order to reduce the possibility of a flash-crash induced loss of funds, Quebex has put in place safeguards to halt automatic trading when the market rates deviate too much from the past 24h performance.
Each crypto currency has a "sanity" rate set -- the percentage change over 24 hours where automatic trading is still possible.
For instance, if the Bitcoin price range in the last 24 hours was $5,000 - $5,500, and the sanity rate was set at 10%, the following three cases would exist:
- If the current price is lower than 10% less than the highest price in the last 24h, automatic trading would be blocked.
10% of $5,500 is $550, so a current price of $4,949.99 would block BTC/LTC, BTC/ETH, and BTC/Quebex Balance trades from automatically completing. - If the current price is higher than 10% more than the lowest price in the last 24h, automatic trading would be blocked.
10% of $5,000 is $500, so a current price of $5,500.01 would block BTC/LTC, BTC/ETH, and BTC/Quebex Balance trades from automatically completing. - If the current price is within both sanity check limits (e.g. between $4,950 and $5,500) then, providing the other currency didn't go outside its sanity rate range, the trade would execute automatically.
If a trade is started, and a currency falls outside its sanity range, you will have to manually click "Release BTC/ETH/LTC."
The Sanity rate is 25% for BTC, 18% for LTC, and 18% for ETH.
Market Rates
When determining the market rate, Quebex regularly monitors crypto currency exchanges and price tracking sites.
We use those external sources to adjust the market rate. It isn't based on trading activity on the Quebex platform alone.
Withdrawal Fees
Quebex adds approximately $50 CAD to the network withdrawl fee.
Account Maintenance Fees
All accounts with balances will be charged $50 CAD of crypto currency or the balance of the account, whichever is less, for each crypto currency stored, on a monthly basis, on the 15th of the month, beginning Feburary 15th, 2021