Best Low Fee Crypto Exchanges in the UK
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Updated 13/11/2024
Explore our curated list of reputable low-fee crypto exchanges, each rigorously tested with real funds. All exchanges are accessible to traders in the United Kingdom, ensuring cost-effective trading options for both beginners and experienced investors.
Quick Answer: What Crypto Exchange has the Lowest Fees?
Coinbase Advanced is the top low-fee crypto exchange option for UK traders. It offers highly competitive trading fees, starting at just 0.00% for makers and 0.05% for takers, with further reductions available for high-volume traders. Known for its sophisticated trading tools, robust security features, and extensive cryptocurrency support, Coinbase Advanced is an ideal choice for both beginners and experienced traders looking for a cost-effective, feature-rich trading platform in the UK
The Top 5 Crypto Platforms with the Lowest Fees
| Exchange | Trading Fees (Maker/Taker) | Deposit Fees | Withdrawal Fees | Supported Cryptos | Key Features |
|---|---|---|---|---|---|
| Coinbase Advanced | Maker Fee: 0.00% to 0.40% Taker Fee: 0.05% to 0.60% | Varies on Payment Method | SWIFT incur a £1 fee | 150+ | While Coinbase Advanced offers lower fees, it features a more complex interface tailored for experienced traders. Beginners may find the standard platform more user-friendly. |
| OKX | 0.08% / 0.10% | Free for bank transfer | Varies by currency | 350+ | Low fees, advanced trading features |
| Coinbase | 0.50% (standard) / Lower with Pro | Free for bank transfer | 1% for bank transfers | 150+ | Easy-to-use interface, great for beginners |
| eToro | 1% Spread (no direct fees) | Free for bank transfer | $5 per withdrawal | 70+ | Social trading, copy trading, multi-asset platform |
| Uphold | No commission, spread varies (0.8-1.2%) | Free for bank transfer | Varies by currency | 200+ | Multi-asset trading, simple interface |
When I first dipped my toes into crypto trading, one of the most frustrating things was realizing how much fees could eat away at my earnings. Whether you’re new to crypto or a seasoned trader, fees can make a big difference in the long run. UK traders, in particular, are always on the lookout for exchanges that offer competitive pricing without compromising on security or features. And trust me, having been through the trial-and-error process of finding the right platform, I know how crucial it is to balance cost and quality.
This guide is here to save you that headache. We’re comparing the top 5 low-fee crypto exchanges available in the UK, breaking down everything from trading fees and hidden charges to user experience and security. We’ll focus on the criteria that matter most to UK investors: low fees, security, ease of use, and the variety of supported cryptocurrencies.
By the end of this guide, you’ll have a clear understanding of which platform is the best fit for your crypto trading needs in 2024. Let’s dive into the comparison!
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What Are Low-Fee Crypto Exchanges?
A low-fee crypto exchange is one that minimizes the costs involved with trading and moving funds. This includes more than just the obvious trading fees, such as maker/taker fees. It also covers other charges like spreads, deposit fees, and withdrawal fees. The best low-fee exchanges ensure that these costs are kept to a minimum, letting you hold on to more of your earnings with every trade.
Why Are Fees Important When Trading Crypto?
When you’re trading crypto, fees are unavoidable, but they can have a significant impact on your bottom line. Frequent traders can see their profits eaten away by high fees, while long-term investors might face expensive withdrawal charges or wide spreads. In the long run, even small percentage fees can add up, reducing your overall profit. Choosing an exchange with low fees helps maximize your profitability, allowing you to keep more of what you earn.
Key Features to Consider When Choosing a Crypto Exchange
While low fees are important, they shouldn’t be the only factor you consider when choosing a crypto exchange. Security should be at the top of your list. You need a platform that offers strong measures like two-factor authentication (2FA), cold storage for funds, and robust encryption to protect your assets.
Next, consider ease of use. A well-designed platform can make all the difference, especially if you’re new to crypto trading. Look for a clean interface, intuitive navigation, and mobile compatibility.
Customer support is another vital element. If something goes wrong with a transaction or your account, you’ll want responsive and helpful customer service. Exchanges that offer 24/7 support via multiple channels (chat, email, or phone) are often the best choices.
What Should I Look for in a Crypto Exchange Beyond Fees?
Finally, make sure the exchange supports the cryptocurrencies you’re interested in trading. Some platforms focus heavily on major coins like Bitcoin and Ethereum, while others offer a wider variety, including altcoins. Ensuring your exchange supports a broad range of assets can give you more opportunities to diversify your portfolio.
Comparison of the Top 5 Low-Fee Crypto Exchanges in the UK
Coinbase Advanced
How does Coinbase Advanced fee structure compare?
Coinbase Advanced employs a maker-taker fee model, which differentiates fees based on whether your order adds liquidity to the market (maker) or removes liquidity (taker). This structure is designed to encourage market liquidity and offers varying fees depending on your 30-day trading volume.
Fee Structure:
- Maker Fees: These apply to orders that add liquidity to the order book, such as limit orders that aren’t immediately matched.
- Taker Fees: These apply to orders that remove liquidity, like market orders that are filled instantly.
The fees are tiered based on your 30-day trading volume:
| 30-Day Trading Volume (USD) | Maker Fee | Taker Fee |
|---|---|---|
| $0 – $10K | 0.40% | 0.60% |
| $10K – $50K | 0.25% | 0.40% |
| $50K – $100K | 0.15% | 0.25% |
| $100K – $1M | 0.10% | 0.20% |
| $1M – $15M | 0.08% | 0.18% |
| $15M – $75M | 0.05% | 0.15% |
| $75M – $250M | 0.02% | 0.10% |
| $250M+ | 0.00% | 0.08% |
Is Coinbase a good option for UK users?
Supported Cryptocurrencies: The platform supports a wide array of cryptocurrencies, allowing UK users to diversify their portfolios and access various trading pairs.
User Experience: While Coinbase Advanced offers comprehensive tools for experienced traders, its interface may be more complex for beginners. However, users can seamlessly switch between the standard Coinbase platform and Coinbase Advanced, providing flexibility based on individual trading needs.
OKX
How does OKX's fee structure work?
OKX offers some of the lowest trading fees on the market. For regular users, the maker/taker fees start at 0.08% and 0.10%, respectively, and can be reduced further based on your trading volume or by holding OKB, the exchange’s native token. This makes OKX one of the best low-fee exchanges for high-volume traders. UK users benefit from free deposits via bank transfer, while withdrawal fees vary based on the currency but tend to be competitively low.
What makes OKX suitable for UK traders?
OKX is known for its advanced trading tools and features, which make it appealing to both beginner and advanced traders. It supports over 350 cryptocurrencies, offering one of the widest selections on the market. UK users will appreciate the platform’s low fees, robust security, and advanced options like futures and margin trading. The user interface is clean and well-designed, making it easy to navigate, even for those new to crypto trading. Overall, OKX’s combination of low fees, extensive coin support, and advanced features makes it an excellent choice for UK traders looking for flexibility.
Coinbase
How does Coinbase’s fee structure compare?
Coinbase is popular for its simplicity, but that ease of use comes with higher fees compared to platforms like Kraken. For standard trading, Coinbase charges around 0.50% per transaction. If you upgrade to Coinbase Pro, fees are reduced to a more competitive maker/taker model, starting at 0.40% for takers and 0.00% for makers with higher trading volumes. Deposits via UK bank transfer are free, but withdrawal fees can be around 1% for bank transfers.
Is Coinbase a good option for UK users?
Coinbase is often seen as the best option for beginners because of its user-friendly interface. UK investors will appreciate its simplicity and quick setup process. While its fees are higher, especially on the standard version, Coinbase makes up for it with its reliability and ease of use. It also supports over 150 cryptocurrencies, which is a good variety but not as extensive as some competitors. For those who prioritize convenience and want a hassle-free experience, Coinbase is a solid choice.
eToro
What are eToro's fees for crypto trading?
eToro takes a different approach to fees, charging a 1% spread when buying and selling crypto rather than traditional maker/taker fees. This spread is added to the market price of the asset. Although it doesn’t charge deposit fees, eToro does have a $5 withdrawal fee and a $10 monthly inactivity fee if your account goes dormant for more than 12 months. These non-trading fees can add up if you’re not actively using your account.
Why should UK investors consider eToro?
One of the standout features of eToro is its social trading platform, which allows users to copy trade the strategies of experienced investors. This can be a huge advantage for beginners. In addition to crypto, eToro supports multi-asset trading, including stocks and ETFs, which makes it a versatile platform for UK investors. The platform is also simple to use, and for those interested in staking, eToro offers staking for some coins, allowing you to earn rewards passively.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
Uphold
What are Uphold’s fees for trading crypto?
Uphold takes a unique approach with commission-free trading, but instead, they charge spreads, which typically range from 0.8% to 1.2% depending on the crypto being traded. This spread model is comparable to eToro’s, and like eToro, there are no deposit fees when using UK bank transfers. Withdrawal fees vary based on the currency being withdrawn, but overall, Uphold keeps costs fairly low for traders.
Is Uphold a good choice for UK traders?
Uphold offers a lot of flexibility by allowing users to trade across multiple asset classes, including cryptocurrencies, precious metals, and even stocks. It supports over 200 cryptocurrencies, which is excellent for UK traders looking for variety. The platform’s interface is straightforward, making it suitable for both beginners and experienced traders. One of the key benefits for UK users is Uphold’s ability to trade between different assets seamlessly, which can be appealing for those looking to diversify.
Kraken
What are Kraken's fees?
Kraken is known for its transparent and competitive fee structure. For most trades, Kraken charges a maker fee of 0.16% and a taker fee of 0.26%, which is fairly low compared to other exchanges. Fees can be further reduced as your trading volume increases. Deposit fees are typically free for UK users when using a bank transfer, while withdrawal fees vary depending on the currency being withdrawn. For example, a GBP withdrawal costs £1.75, making Kraken one of the more affordable platforms.
Why should UK users choose Kraken?
Kraken has built a strong reputation for its security and reliability. It’s one of the oldest exchanges, meaning it has a long track record of trustworthiness. Kraken offers over 200 cryptocurrencies, making it a great platform for UK traders who want access to a wide range of assets. The interface is clean and easy to use, but it also offers advanced tools for experienced traders. Kraken’s strong security features, including 2FA and cold storage, provide peace of mind for users.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
Which Exchange Is the Best for Low-Fee Crypto Trading in the UK?
Here’s a quick comparison of the fees across the top 5 low-fee crypto exchanges:
| Exchange | Trading Fees (Maker/Taker) | Deposit Fees | Withdrawal Fees | ||
|---|---|---|---|---|---|
| Kraken | 0.16% / 0.26% | Free for bank transfers | £1.75 (GBP) | ||
| Coinbase | 0.50% (standard) / 0.40% (Pro) | Free for bank transfers | 1% for bank transfers | ||
| eToro | 1% spread (no direct fees) | Free for bank transfers | $5 per withdrawal | ||
| Uphold | 0.8-1.2% spread | Free for bank transfers | Varies by currency | ||
| OKX | 0.08% / 0.10% | Free for bank transfers | Varies by curren |
Which exchange is the most cost-effective?
For beginners, Coinbase is ideal due to its user-friendly interface, despite slightly higher fees. Advanced traders and those with high trading volumes will benefit most from Kraken or OKX, which offer lower trading fees and advanced features. Large-volume traders may prefer OKX for its ultra-low fees. Uphold and eToro are great for traders who want multi-asset options, but if low crypto fees are your priority, Kraken or OKX are your best bets.
Conclusion
For UK traders seeking the lowest fees, Kraken stands out for its competitive fees, strong security, and wide range of supported cryptocurrencies. However, the best exchange depends on your needs—OKX is perfect for advanced traders, while Coinbase is great for beginners.
Frequently Asked Questions About Low-Fee Crypto Exchanges
Yes, always keep an eye out for spreads, withdrawal fees, and network fees. Some exchanges charge higher spreads rather than upfront trading fees. Also, withdrawal fees can vary based on the currency, and network fees for transferring crypto can also be a hidden cost to consider.
You can minimize trading fees by using limit orders, which avoid instant taker fees, and by increasing your trading volume to qualify for fee discounts. Some exchanges, like OKX, offer reduced fees if you hold their native tokens (e.g., OKB), so it’s worth checking for such perks.
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