We know how much it costs to trade with centralised parties. IT’S EXPENSIVE. There are costs for opening trading accounts, opening/closing contract positions, maintaining open positions, account maintenance, price spreads, transaction fees and many more. Before you can break even with your trades, you would have to largely surpass the opening price or use the dangerous and risky feature known as leverage.
At CloseCross, we understand the burden these costs can carry so we have ensured to design our processes in the most cost efficient manner for you, the end user.
Since our platform is based on blockchain technologies, there are transactional fees which apply for transacting across the blockchain. If you create transactions above a threshold amount, CloseCross will pay for the blockchain fees on your behalf. IT’S TRUE! In addition to this, we do not charge you for opening or closing any trades or to maintain any open trades.
It gets better, CloseCross only charges a nominal fee (av. 1.5%) to a Prediction Floor from the total funds committed (read more on our fees here). This means that all users who predicted the correct outcome of a VPF will get back a minimum of what they committed to that trade and CloseCross will take their fee from the shared profits. The same works in the case that you predicted incorrectly, you will only ever lose the amount you put in, CloseCross will not take any fee from you.
To top it all off, if all participants in a VPF got the predition correct (there were no incorrect preditions made) or if all participants got the prediction wrong (there were no correct predictions made), then CloseCross will return ALL participants their money back and will take NO FEE!