FTX, Binance US and OKCoin Cheapest Spot Crypto Exchanges: ResearchAuthor: Ali RazaLast Updated: 17 June 2020 FTX, Binance US, as well as OKCoin, have been rated the least expensive spot crypto exchanges within use. This comes from research that was conducted by Larry Cermak, a researcher from The Block media outlet.FTX For Retail, Binance and OKCoin for InstitutionalThese exchanges have achieved this title either by charging the lowest trading fees or instead charging the lowest maker and taker fees. It should be noted that taker fees tend to be cheaper when compared to maker fees. The reason for this is maker fees are charged for the removal of liquidity within the exchange’s order book, as well.Cermak did an analysis of twenty of the leading cryptocurrency exchanges’ maker and taker fees. Through this, he managed to conclude that institutional traders have the cheapest fees when using OKCoin and Binance US, with retail traders gaining the cheapest fees via FTX.Lowest Fees; Highest FeesAs one would imagine, if there’s the cheapest trade fee, there is the most expensive one, as well. This dishonorable title gets given to four significant exchanges: bitFlyer EU, Coinbase, Gemini, and Bitstamp.As is the case with the cheapest trading fees, exchanges like Gemini, Coinbase, and Bitstamp are the most expensive for retail clients, with Gemini’s rates being more lenient for institutional clients.Ever-Changing TimesThe Binance exchange itself used to hold the title of least-expensive crypto exchange but has lost that title for both retail and institutional clients. In particular, it’s been charging more money for more significant trades, but has kept retail trading fees, Binance’s most extensive customer base, relatively inexpensive. It’s just no longer the least expensive exchange.It seems that each exchange has, more or less, started to focus on one specific subset of clients to cater to. While some are trying to spread themselves evenly, others hyper-focused into a particular group. It should be noted that the difference in fees could be for a variety of different reasons, and is subject to change throughout the future, as Binance has shown.How these numbers will change in a year from now remains unclear, but what’s clear is the crypto industry has started to establish itself as a mainstay in the financial world. A selection of the top 20 exchanges means there has to be more, with widespread use on enough exchanges to mandate a focus-test. In time, mainstream integration of crypto will be the only way forward.