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We’ve created this speedy guide to tell you everything you need to know about Fanatics Markets fees. The good news is that you don’t have too much to worry about.
Here you will learn how Fanatics Markets will impose a tiny fee for each event contract you buy or sell on its app. We’ll give you some concrete examples of this, so that you can see what it’s all about, and you’ll also learn how fees may affect how you make your deposits and withdrawals.
Fanatics Markets has a page on its website that is devoted to explaining its Fees Schedule. This is well worth a look to see exactly how the fees will be applied to each trade you make.
The basic thing to understand is that there will be a modest charge automatically applied every time that you buy or sell an event contract on Fanatics Markets. This fee typically gets larger the more that you trade, and the amount will be rounded up to the nearest cent. Here’s a quick overview as to what to expect:
| Contract price | Total trading fee |
|---|---|
| $0.01 | $0.00408 |
| $0.02 | $0.00816 |
| $0.05 | $0.0168 |
| $0.10 | $0.0192 |
| $0.20–$0.80 | $0.024 |
What’s interesting is that most trades will typically carry a fee of just $0.024 which is pretty negligible and certainly not enough to stop you enjoying everything that Fanatics Markets has to offer.
All prediction markets brands will have to impose some kinds of charge, and you only have to look at our guide to the PrizePicks prediction markets fees for a good example of this.
Such fees are essentially there to help the business stay afloat. After all, prediction markets function by letting you make your trades against other customers, rather than the brand itself. So while the fees might be a minor nuisance, it’s a small price to pay for having an entire world of prediction markets at your fingertips.
While we have been focusing on how Fanatics Markets applies modest fees for your trading activity, it’s worth noting that the brand also includes some charges for how you move your money around. Here is what you need to know:
You should understand that any deposit made with a Visa or Mastercard debit card or Apple Pay will be hit with a 2% fee. Thankfully, there aren’t any charges made for adding funds with any of the brand’s other accepted payment methods like PayPal, Venmo, ACH bank transfer, Play+ or wire transfer. Just remember that wire transfers can only be made upwards of $1,000.
The good news here is that there aren’t any fees for making withdrawals from Fanatics Markets, regardless of which payment method you use. Just note that wire transfer withdrawals can only be made from a minimum of $10,000 at a time, so you might want to avoid using that payment method.
Not only will we help you find the latest Fanatics prediction markets promo code offers, but we can even give you some solid examples of how the brand applies its fees. Here’s what happened when we signed up to Fanatics Markets and started trading:
First of all, we downloaded the Fanatics Markets app to our iPhone from the App Store. It didn’t cost a dime to do this, and note that the brand also has an excellent Android app.
Next, we just had to make our first-ever account here which basically involved filling in the registration form with an email address and then coming up with a password. Again, this didn’t cost us any money.
From here, we had to verify our identity and we did this by providing our name, home address, email, date of birth and social security number. We used our driver’s license to prove this fact.
Now we decided to make an opening deposit of $10 with our Visa debit card. While doing this, we noted that a modest $0.20 fee had been automatically charged for making this deposit.
Next it was a matter of making an opening trade. We decided to purchase $10 of Big Game Winner event contracts that the Capitals would beat the Flyers in the NHL. This trade automatically had $1.92 in fees taken out of it.
Finally, we just waited for the big game to finish so that our trades were settled and we could then make a withdrawal of our returns. The good news here was that there weren’t any fees, meaning that we could withdraw 100% of what we’d won.
While you can read our comprehensive Fanatics prediction markets review for a detailed understanding of what the brand is all about, here are the main pros and cons of using Fanatics Markets for your trades rather than another site:
We’ve shown you that any fees imposed by Fanatics Markets are negligible and shouldn’t have too much of an impact on your trading activity. After all, the fees are on par with what you get from most other prediction markets sites and it’s good to find that they are automatically embedded into each event contract that you buy or sell.
Some people might grumble a little about the fact that Fanatics Markets adds fees for making deposits with certain payment methods, but it’s still a very minor amount. So be sure to click on any of the links for Fanatics Markets in the banners of this page to register your account and enjoy some cost-effective prediction markets trading.
All of these fees will be automatically included in each trade that you make. Plus those deposit fees will be included every time that you use a debit card or Apple Pay to add funds to your account.
Fanatics Markets is legally allowed to operate as a prediction markets brand as it is registered with the CFTC and a member of the NFA. Failure to have such regulation would mean that it simply couldn’t be trusted to give you a secure or fair way to trade.
Yes, the Fanatics Markets trading fees are fair and on par with what you get at other major prediction markets sites. Take a look at our guide to the Underdog prediction markets fees for a good example of this.
It’s highly likely as the brand is currently available in the following states; Alabama, Alaska, California, Delaware, Florida, Georgia, Hawaii, Idaho, Maine, Minnesota, Mississippi, Nebraska, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Rhode Island, South Carolina, South Dakota, Texas, Utah, Washington, and Wisconsin.
You will have to be at least 21 years old to sign up to Fanatics Markets. This minimum age limit is a little higher than some prediction markets sites and you’ll need to verify your identity before you can start trading.
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