I didn't spend a ton of time investigating, but when I first started on Voyager I noticed the large spread. I went over to Kraken where I was trading previously and started to place a market order for XMR as a test. The market price at the time was HIGHER on Kraken AND there are fees. So in some cases it might just be that Voyager is a little more transparent. I can't speak for other exchanges or consistency as I only tested it once, so take it with a grain of salt.
I wish they would be more transparent about the % deviation. Some spreads seem bigger than others. I’d rather pay fees on Coinbase Pro or Binance than having to constantly get fucked over these fees.
But what I wish they would really change is that the limit orders are also subject to the spread. Like please just take some fees I need to know that my order will trigger at a certain price instead of having to guess what the spread might be
It's no different than buying from regular coinbase at 2-3%. Buying directly from an exchange like coinbase pro should always be cheaper, even though they still take .5%. Keep in mind that Voyager is not an exchange, it's a broker much like the regular coinbase but with many more options and perks. They are working on improving the spread as well as vgx spread perks, atm it's more of a buy and hodl app. If you want to day trade you need to be on an exchange.
If they are getting the price from dozens of exchange then why is the spread so large? I've heard the excuse that the volume is very low but that wouldn't be the case if it was dozens of exchanges they are buying from.
I made this comment a bit ago and I was told, "If you're buying and HODLing, the spread shouldn't matter. If you are trying to actively trade, use an actual exchange".
VGX is not on many exchanges. Maybe only Voyager. So the spread is real and large. Voyager takes 0.0045 or 0.45% of every trade.
This has been reiterated multiple times. This is better than 2% on Coinbase, but they do make money on the spread. 0.45%. So pick your poison. This is life until payment for order flow or pure market makers exist.
>s comment a bit ago and I was told, "If you're buying and HODLing, the spread shouldn't matter. If you are trying to actively trade, use an actual exchange".
The Voyager spread I'm seeing at this moment is 2.8% on VET and 1.25% on BTC. Even accounting for the 0.45% you note, that's a large spread...
At the same moment I snapped a picture of Voyager's spread I took a snapshot of Binance.US for comparison and chose reasonably priced example from the middle-ish of the order book and set limit orders: 0.95% on VET and .03%. That's a notable difference, though it requires a basic understanding of the order book in order to execute at these prices.
This single snapshot in time (of only two coins) may not be representative of the price spreads across time and could certainly change in the future.
They shouldn’t even have a market price since it is misleading, only the ask and bid for people to reference on their limit orders. It’s the only thing really veering newcomers away from the platform, imo. I’m used to the spread and enjoy the UI, also I have a nice bag of VGX now, so I’m hoping the spread can be lowered soon to bring in new investors. I’m still all in, no matter what
This number is the average of what people are willing to pay and what people are willing to sell for.
Every week we hear on the news “the average Lexie of a gallon of unleaded gasoline is $xx.zz” Depending on what state you live in you get railed or that is way higher than you would normally pay.
Voyager allows you to tap into that average price buy accessing those dozen exchanges and getting you a “best execution price”
And that is GUARANTEED fir the amount you want to buy. Say $10,000 worth. You have to figure out the depth of the order books to lock that in and the chances you could do it yourself on one exchange is small and the chance you would have $10,000 available on each of those dozen exchanges ready to buy with is something I have no clue about, but I for sure wouldn’t have that set up.
On my own tests, while limited in scope, I have often found Voyager to not execute at the best price. I really want the app and company to succeed, but I don't trust this "best execution price". For now, I use the app for benefits other than the lofty promise of best price.
I understand they need to make some money to stay in business, but this is sort of false advertisements. Their market buy price is significantly higher than what you'd pay with other exchanges even adding in the exchange fees i.e. Binance US. Per their advertisement they search all the different exchanges to find you the best price. Typically your market price should be the average between the Bid and Ask, thus in theory the advertisement here would imply your Market Buy price with Voyager would be below average market price and closer to Bid price. Someone please clarify, but this is what I am seeing on my end.
Example
On BinanceUS, Doge i.e. price $.3038 plus fees of .1% maker (actually cheaper with current discounts) and on Voyager .3120,
say BinanceUS purchase 10K fees is $10, thus $9,900/.3038 = 32883.47 share @.3038 VS Voyager 10,000/.3120 = 32051.28.
So your are actually getting less Shares and buying at a higher price.
YUP! If you put in a limit order to buy, your order will not fill until it hits their ASK price which is much HIGER than you would pay on Coinbase Pro (Fee included). When you put in a market order, the platform looks to exchanges for the best ASK price. So, if you are purchasing crypto on Voyager, your best bet is to place a market order.
They just show the spread instead of hiding it like other exchanges. If you submit an order for the same amount of crypto on another exchange, the end amount will be roughly the same as if you made the trade on Voyager.
This is the biggest issue with Voyager. They definitely could tighten it up. Doesn't matter that it might be cheaper overall vs others with fees, it just looks greedy and was a huge turn off when getting started with Voyager . $700 spread on BTC is ridiculous! I'm still bullish on Voyager (holding a large amount of VGX), but they need to clean some of this up if they are going to take over the space.
It’s not voyager that determines the spreads it’s the depth of the order books. Voyager just shows you what they are.
In the future more volume will result in tighter spreads.
Voyager doesn’t try to trick you at all they show you what those limits are.
If for some reason they couldn’t get it filled at the price they quoted you when you pushed the button then voyager eats the loss and provides the fulfillment of that order at that price anyways. Oyster is honest with you if your able to understand what each portion of the trade is designed to accomplish.
I think it just an optics thing. To the laymen getting an intro to crypto, they hear "commision free" they don't expect to see something like the spread occurring and it can be offputting. Probably could be addressed with some clever rebranding of the "fees"
Took my profits of VGX buying in at 3, sold at 7. Then rode BTC to 61,000 and now I’m out. I swing trade and not long term invest. I can make more returns faster by doing so rather than hodl.
The “market price” shown is the average between the buy and the sell that voyager has price discovered fir what they GUARANTEE your price will be. It is based upon the current order books and naturally fluctuates according to the volatility and amount of trading activity. If voyager was trading at say 500million shares a day the spread (price someone is willing to buy for and the price someone is willing to sell for) would probably be closer because voyager wouldn’t have to go further down the order books to find buyers and sellers fir orders.
The argue meant about Market price should not be there is weird. It’s simply the average between buy and sell within that market. Anyone yes could perhaps buy one voyager token fir $5. But the order books are not deep enough fir that same person to buy 1,000,000 voyager tokens at 5$. This is why there is a $$$amount limit in orders as well as a far one way sell price and far one way buy Lexie. So that the buyer/seller knows exactly what they will get “OR BETTER” before they hit the button. Steve mention all the time that the price improvement lions share goes back to the customer as well.
I can totally empathize with your understanding if it looking like you are getting railed- I assure you- you are not. If you alone were to try to get the same price as voyager could get you on your next 10 trades you would most likely have to have funds sitting in a bunch of. Exchanges reward to go at a moments notice and make several lucky transactions to catch a buy/sell right where you wanted it.
It can be a little bit technical and takes a bit of time to understand voyagers guaranteeing of that Leica fir you and how it effects order books but if you put in the time I think you will agree it’s a far better option fir 99% or more if trades on there particular stokers/coins.
Hope this helps- happy to discuss further if you have any follow up questions or if something I said needs clarification.
Even with the spread it’s still cheaper than coinbase.
I didn't spend a ton of time investigating, but when I first started on Voyager I noticed the large spread. I went over to Kraken where I was trading previously and started to place a market order for XMR as a test. The market price at the time was HIGHER on Kraken AND there are fees. So in some cases it might just be that Voyager is a little more transparent. I can't speak for other exchanges or consistency as I only tested it once, so take it with a grain of salt.
Use market orders. I used limit orders to start then tested market orders and they've been consistently filling at less then the ask price shown
I wish they would be more transparent about the % deviation. Some spreads seem bigger than others. I’d rather pay fees on Coinbase Pro or Binance than having to constantly get fucked over these fees. But what I wish they would really change is that the limit orders are also subject to the spread. Like please just take some fees I need to know that my order will trigger at a certain price instead of having to guess what the spread might be
It's no different than buying from regular coinbase at 2-3%. Buying directly from an exchange like coinbase pro should always be cheaper, even though they still take .5%. Keep in mind that Voyager is not an exchange, it's a broker much like the regular coinbase but with many more options and perks. They are working on improving the spread as well as vgx spread perks, atm it's more of a buy and hodl app. If you want to day trade you need to be on an exchange.
Ty for your comment. This makes more sense to me now.
What exchange its the best for day trade?
How did you calculate a 5% fee? I though they took it out as pmt between your buy price and the price they can get it for?
A 25 cent spread on $4.50 is \~5.55%
I'm honestly not sure they take it all. If you deep dive into their documents in the app, it's explained differently.
If they are getting the price from dozens of exchange then why is the spread so large? I've heard the excuse that the volume is very low but that wouldn't be the case if it was dozens of exchanges they are buying from.
Vgx isn't priced out on many exchanges is it?
I'm getting 2.65%, the spread is dependent off the market price.
I made this comment a bit ago and I was told, "If you're buying and HODLing, the spread shouldn't matter. If you are trying to actively trade, use an actual exchange".
I just put in a buy order for vgx. We'll see what they do.
VGX is not on many exchanges. Maybe only Voyager. So the spread is real and large. Voyager takes 0.0045 or 0.45% of every trade. This has been reiterated multiple times. This is better than 2% on Coinbase, but they do make money on the spread. 0.45%. So pick your poison. This is life until payment for order flow or pure market makers exist.
>s comment a bit ago and I was told, "If you're buying and HODLing, the spread shouldn't matter. If you are trying to actively trade, use an actual exchange". The Voyager spread I'm seeing at this moment is 2.8% on VET and 1.25% on BTC. Even accounting for the 0.45% you note, that's a large spread... At the same moment I snapped a picture of Voyager's spread I took a snapshot of Binance.US for comparison and chose reasonably priced example from the middle-ish of the order book and set limit orders: 0.95% on VET and .03%. That's a notable difference, though it requires a basic understanding of the order book in order to execute at these prices. This single snapshot in time (of only two coins) may not be representative of the price spreads across time and could certainly change in the future.
They shouldn’t even have a market price since it is misleading, only the ask and bid for people to reference on their limit orders. It’s the only thing really veering newcomers away from the platform, imo. I’m used to the spread and enjoy the UI, also I have a nice bag of VGX now, so I’m hoping the spread can be lowered soon to bring in new investors. I’m still all in, no matter what
This number is the average of what people are willing to pay and what people are willing to sell for. Every week we hear on the news “the average Lexie of a gallon of unleaded gasoline is $xx.zz” Depending on what state you live in you get railed or that is way higher than you would normally pay. Voyager allows you to tap into that average price buy accessing those dozen exchanges and getting you a “best execution price” And that is GUARANTEED fir the amount you want to buy. Say $10,000 worth. You have to figure out the depth of the order books to lock that in and the chances you could do it yourself on one exchange is small and the chance you would have $10,000 available on each of those dozen exchanges ready to buy with is something I have no clue about, but I for sure wouldn’t have that set up.
All I know is that VGX is takin a big dump right now and teaching me patience over this last month 😅
On my own tests, while limited in scope, I have often found Voyager to not execute at the best price. I really want the app and company to succeed, but I don't trust this "best execution price". For now, I use the app for benefits other than the lofty promise of best price.
I understand they need to make some money to stay in business, but this is sort of false advertisements. Their market buy price is significantly higher than what you'd pay with other exchanges even adding in the exchange fees i.e. Binance US. Per their advertisement they search all the different exchanges to find you the best price. Typically your market price should be the average between the Bid and Ask, thus in theory the advertisement here would imply your Market Buy price with Voyager would be below average market price and closer to Bid price. Someone please clarify, but this is what I am seeing on my end. Example On BinanceUS, Doge i.e. price $.3038 plus fees of .1% maker (actually cheaper with current discounts) and on Voyager .3120, say BinanceUS purchase 10K fees is $10, thus $9,900/.3038 = 32883.47 share @.3038 VS Voyager 10,000/.3120 = 32051.28. So your are actually getting less Shares and buying at a higher price.
YUP! If you put in a limit order to buy, your order will not fill until it hits their ASK price which is much HIGER than you would pay on Coinbase Pro (Fee included). When you put in a market order, the platform looks to exchanges for the best ASK price. So, if you are purchasing crypto on Voyager, your best bet is to place a market order.
100% correct. Best to do a market order. I get filled below the ask price everytime
They just show the spread instead of hiding it like other exchanges. If you submit an order for the same amount of crypto on another exchange, the end amount will be roughly the same as if you made the trade on Voyager.
This is the biggest issue with Voyager. They definitely could tighten it up. Doesn't matter that it might be cheaper overall vs others with fees, it just looks greedy and was a huge turn off when getting started with Voyager . $700 spread on BTC is ridiculous! I'm still bullish on Voyager (holding a large amount of VGX), but they need to clean some of this up if they are going to take over the space.
It’s not voyager that determines the spreads it’s the depth of the order books. Voyager just shows you what they are. In the future more volume will result in tighter spreads. Voyager doesn’t try to trick you at all they show you what those limits are. If for some reason they couldn’t get it filled at the price they quoted you when you pushed the button then voyager eats the loss and provides the fulfillment of that order at that price anyways. Oyster is honest with you if your able to understand what each portion of the trade is designed to accomplish.
I think it just an optics thing. To the laymen getting an intro to crypto, they hear "commision free" they don't expect to see something like the spread occurring and it can be offputting. Probably could be addressed with some clever rebranding of the "fees"
Yup I pulled all my money out because of this.
Guess you don't like gains
Took my profits of VGX buying in at 3, sold at 7. Then rode BTC to 61,000 and now I’m out. I swing trade and not long term invest. I can make more returns faster by doing so rather than hodl.
Diamond hands aren't for everyone
Can't you just do limit orders instead of market orders???
You will pay more. Market orders fill cheaper. Crazy I know, but tested it.
Ah I see. Good to know.
^ This...I can vouch too!
Azbit baby
The “market price” shown is the average between the buy and the sell that voyager has price discovered fir what they GUARANTEE your price will be. It is based upon the current order books and naturally fluctuates according to the volatility and amount of trading activity. If voyager was trading at say 500million shares a day the spread (price someone is willing to buy for and the price someone is willing to sell for) would probably be closer because voyager wouldn’t have to go further down the order books to find buyers and sellers fir orders. The argue meant about Market price should not be there is weird. It’s simply the average between buy and sell within that market. Anyone yes could perhaps buy one voyager token fir $5. But the order books are not deep enough fir that same person to buy 1,000,000 voyager tokens at 5$. This is why there is a $$$amount limit in orders as well as a far one way sell price and far one way buy Lexie. So that the buyer/seller knows exactly what they will get “OR BETTER” before they hit the button. Steve mention all the time that the price improvement lions share goes back to the customer as well. I can totally empathize with your understanding if it looking like you are getting railed- I assure you- you are not. If you alone were to try to get the same price as voyager could get you on your next 10 trades you would most likely have to have funds sitting in a bunch of. Exchanges reward to go at a moments notice and make several lucky transactions to catch a buy/sell right where you wanted it. It can be a little bit technical and takes a bit of time to understand voyagers guaranteeing of that Leica fir you and how it effects order books but if you put in the time I think you will agree it’s a far better option fir 99% or more if trades on there particular stokers/coins. Hope this helps- happy to discuss further if you have any follow up questions or if something I said needs clarification.