Would you like to adjust the trading fees for your paper trading bot in Cryptohopper? By default, the paper trading bot is set to 0% trading fees, meaning no fees are simulated during transactions. However, if you want a more realistic experience that mimics trading with a bot connected to an exchange, you can add trading fees. Below, we’ll explain step-by-step how to do this.
Steps to Adjust Trading Fees for a Paper Bot:
Log in to your Cryptohopper account
Make sure you're logged into the Cryptohopper website.Go to your Paper Bot Dashboard
Navigate to the dashboard of the specific paper trading bot for which you want to adjust the fees.Click on "Set Fees"
On the right side of your dashboard, under the "Paper Trading" section, you'll find the option "Set Fees." Click on it to configure the fees.
Enter the Taker fee %
Enter the percentage for the taker fee. Taker fees are transaction costs paid by the taker when they remove a limit order from the market. The limit order was placed by a maker, and the taker executes the order, removing it from the market.Enter the Maker fee %
Enter the percentage for the maker fee. Maker fees are transaction costs paid by the maker of a limit order. When placing a limit order, you offer cryptocurrency at a price lower than the current market price (for a buy order) or sell at a price above the current market price (for a sell order).Click on "Set"
Confirm your changes by clicking "Set." The new fees will now be applied to the paper bot.
Why Adjust Fees on a Paper Bot?
Adding fees to a paper trading bot simulates more realistic trading conditions. This allows you to better evaluate how your strategies perform in a real market environment, where costs can have a significant impact on your profit margins. By setting both maker and taker fees, you can more accurately replicate trading with a live trading bot.