One Trading

One Trading is a European centralized cryptocurrency exchange and derivatives venue headquartered in Amsterdam, the Netherlands that focuses on regulated spot markets and cash‑settled perpetual futures for euro‑denominated traders. Launched from a professional-trading lineage and positioned as an onshore alternative to offshore derivatives venues, One Trading combines a regulated trading venue with custody and settlement services, aiming to serve both institutional clients and eligible retail investors across the European Economic Area (EEA). The platform is best known for claiming very low-latency execution, minute‑level settlement on perpetual contracts, and a volume‑tiered fee model that rewards larger traders.

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Note on fees: One Trading uses a transparent, volume‑tiered maker/taker schedule for both spot and perpetual futures; network and crypto withdrawal processing fees are shown at the time of withdrawal and fiat SEPA transfers are typically low or free for inbound EUR. The platform publishes per‑asset crypto processing fees and explicit minimums for fiat rails.

Company Overview

One Trading positions itself as an industry response to the regulatory gap between offshore derivatives venues and European financial firms that need on‑shore, compliant trading infrastructure. It operates as a crypto‑asset service provider under the Markets in Crypto‑Assets Regulation (MiCA) and as an Organised Trading Facility under the Markets in Financial Instruments Directive II (MiFID II), which together aim to deliver EU‑standard investor protections, market‑abuse monitoring, and passporting across the EEA. The company’s public narrative stresses a vertically integrated technology stack that shortens post‑trade processing and supports high throughput execution, coupled with an onboarding and appropriateness process for leveraged products. Key differentiators claimed by the firm include minute‑level settlement for perpetuals, a volume‑rewarded fee schedule, and a European regulatory footprint designed to attract institutional and compliance‑sensitive counterparties. User feedback and third‑party reviews frequently praise customer support and execution responsiveness while noting a narrower asset coverage than global generalist exchanges.

Company History & Development

One Trading emerged from a professional/trading business lineage in the early 2020s as demand for regulated European derivatives infrastructure intensified. The company formalised its market offering by combining an onshore custody and matching engine with the regulatory workstreams necessary for MiFID II and MiCA compliance. Milestones in the firm’s development include the public launch of its Fast, Accurate, Secure Trading (F.A.S.T.) technology and the progressive roll‑out of perpetual futures trading for euro‑denominated pairs.

A pivotal moment was regulatory authorisation: One Trading pursued a dual licensing strategy to bridge the gap between crypto markets and traditional finance. That work culminated in regulatory approvals that positioned the exchange as one of the first European venues to take derivative‑style products onshore under existing securities market rules and the new MiCA framework, enabling it to offer regulated perpetual futures to eligible retail and institutional clients. Along the way the company announced partnerships oriented to market surveillance and compliance technology to meet the intensified market‑abuse monitoring expected of regulated venues.

Product launches followed a staged approach. Spot order‑book trading and a simplified “Instant Trade” interface enabled broader participation, while a separate perpetual futures product was introduced with minute‑level settlement and an appropriateness test for leveraged retail access. The company’s governance narrative emphasises its push to integrate issuance, matching, margin, and settlement without reliance on external clearing counterparties, citing capital efficiency and latency benefits. Growth has been steady but deliberately focused: the product catalog expands slowly, prioritising regulatory coverage and execution robustness before broadening listings.

Challenges and constraints are visible in the record: as a newly independent regulated venue the firm must balance growth with the scrutiny that accompanies MiFID II market infrastructure, and users have flagged occasional onboarding friction and a more limited token universe compared with large global competitors. The company has been responsive to those constraints, prioritising regulatory readiness and surveillance integration with third‑party providers to reduce compliance risk as its trading volumes scale.

Business Model & Core Services

One Trading’s business model is straightforward to explain: the company runs a regulated trading venue where people and institutions buy and sell cryptocurrencies and perpetual derivative contracts. Imagine a modern auction house where orders meet in millisecond timeframes and the venue charges small transaction fees, as well as occasional custody or transfer processing fees. The exchange provides an order book for spot trading, a simplified instant‑trade window for block or retail swaps, and a perpetual futures market where traders can take directional positions with leverage and have gains and losses settled frequently.

Revenue flows come from trading fees on spot and derivatives, spreads on Instant Trade quotes, occasional processing fees on crypto withdrawals, and service fees tied to specific rails such as card or large outbound bank transfers. For institutional clients the platform also monetises API connectivity and liquidity services with tiered rebates and rebates for high-frequency API flow. Custody is offered as part of the regulated service; inactive accounts attract a stated monthly custody charge to cover long‑tail operational costs, while active traders typically avoid routine custody fees.

Trust is earned through regulated operational practices, KYC/AML onboarding, segregated client accounting, and integrated market surveillance. For example, traders wishing to access leveraged futures must complete an appropriateness test designed to confirm product understanding; this is analogous to a short exam that ensures the platform meets MiFID II suitability and conduct expectations for derivative offers.

Regulatory Compliance & Trust

Regulation is a central pillar of One Trading’s value proposition. The company publicly reports authorisations under MiCA as a crypto‑asset service provider and under MiFID II as an Organised Trading Facility for derivatives, subjecting it to EU market‑abuse rules, investor protection requirements, and operational resilience standards. The firm highlights onshore custody standards, segregated client asset arrangements, and enhanced surveillance tools to satisfy the reporting obligations of regulated venues.

From a user perspective this regulatory stance matters: it means dispute resolution routes are available inside EU frameworks, appropriateness and suitability checks govern leveraged access, and the venue is subject to ongoing supervisory review. That regulatory protection is valuable for asset managers, pension‑adjacent vehicles, and regulated financial intermediaries seeking to avoid offshore custody or clearing counterparty risk. Nevertheless, the company remains young under this regime and its regulatory resilience will continue to be proven over time as supervisory scrutiny matures.

Economics & Value Proposition

One Trading’s pricing is built to favour volume and professional flow. The platform publishes a tiered maker/taker schedule: base maker and taker percentages apply for low volumes and progressively reduce as 30‑day trading volume increases, with API‑driven futures flow eligible for special rebates. Spot trading includes both order‑book fees and an Instant Trade channel that offers simplified execution with an all‑in quoted spread.

Fiat rails are pragmatic for European users: inbound SEPA deposits are low‑cost or free in many cases, while card and express rails carry modest percentage charges. Crypto withdrawals are presented transparently at withdrawal time and reflect network and processing costs; the platform publishes per‑asset processing amounts so traders can anticipate costs. A small monthly custody fee applies only to accounts that remain inactive for a defined interval, which discourages ghost accounts and covers long‑term storage overhead.

Accessibility is a selling point for retail and institutional segments within the EEA: accounts can be opened without a large minimum balance, but fiat funding channels maintain practical minimum transfer limits. Relative to large international venues the platform trades on a narrower set of liquid EUR pairs, which concentrates liquidity but may limit exposure for traders who prioritise broad altcoin access. The value proposition is therefore strongest for compliance‑sensitive counterparties who prioritise onshore derivatives and regulated custody.

Technology & User Experience

The platform’s technology is marketed around high throughput and low latencies, with minute‑level settlement on derivatives that aims to collapse traditional post‑trade cycles into near‑real‑time reconciliations. For traders this translates into refreshed position accounting and a framework that reduces deferred counterparty exposures; for engineers it represents a non‑trivial integration of matching engine, margin management, and custody rails.

User interfaces come in two flavors: a full professional F.A.S.T. exchange UI with depth-of-book tools and a simplified Instant Trade interface for large or retail orders. The UI is described as modern and responsive with mobile and desktop parity; users commonly praise speed and clarity while calling out occasional usability quirks. API connectivity is available for algorithmic traders and market makers, with documentation and endpoints to query instruments and execute on market data.

Customer support is regularly highlighted as a strength in community feedback, with a reputation for timely and helpful responses. Integration capabilities include standard exchange APIs and partner surveillance technology for trade monitoring. On the innovation front the firm emphasises continuous performance tuning, real‑time settlement logic, and compliance tool integrations; the trade‑off is measured asset expansion cadence, as the company prioritises robust listings rather than rapid quantity.

Scalping‑Friendliness (Commissions, Leverage & Slippage)

One Trading’s low‑latency execution, minute settlement cadence, and maker/taker volume incentives create conditions that are potentially friendly to short‑horizon traders. The base maker/taker fees are explicit and decline with volume, which supports scalpers who can generate continuous volume. Leverage on perpetual products is capped (for eligible clients) and capped per regulatory guidance, which moderates position sizing risks for retail scalpers. Users report generally tight fills and fast fill times for major EUR pairs, but caveats remain: lower liquidity on some altcoin pairs can cause higher slippage, and specialised scalping strategies that require sub‑millisecond market data arbitrage are constrained by the retail‑accessible API cadence. Overall, the platform “excels at” quick execution on major pairs while “evolving” in breadth for exotic or low‑liquidity scalping opportunities.

Derivatives Trading & Fees

Derivatives on One Trading currently focus on cash‑settled perpetual futures for major euro pairs. Contracts are perpetual, settled frequently at tick or minute intervals, and a 30‑day rolling volume model determines maker and taker charges. API order flow can attract rebates; liquidation fees and margin maintenance rules are published in the product documentation and are applied consistently with MiFID II market‑infrastructure expectations. Leverage is offered up to a capped multiplier for eligible clients, with an appropriateness test gating retail access. Compared with spot, derivatives fees are aligned to incentivise liquidity provision while funding or spread economics replace traditional borrowing costs.

Security & Risk Management

Security controls emphasise institutional custody practices and operational safeguards. The platform uses segregated client accounting and standard account protections such as two‑factor authentication and withdrawal whitelisting. Market‑abuse monitoring is integrated with third‑party surveillance tooling to meet regulated venue reporting needs. Public information indicates the company publishes per‑asset processing fees and withdrawal mechanics, but independent proof‑of‑reserves or comprehensive public insurance certificates are not prominent in external disclosures, which is an area users should monitor. Incident history to date is limited in public reports; the firm emphasises continuous audits and monitoring as part of its regulatory obligations.

Market Position & Suitability

One Trading is best suited to compliance‑conscious traders and institutional counterparties who need on‑shore, euro‑denominated exposure to regulated perpetual futures. Conservative retail investors gain from regulated consumer protections but should be mindful that leveraged products carry high risk. Active traders and market‑makers who trade major EUR pairs will find the fee tiers and low latencies attractive, while algorithmic users benefit from API rebates and documentation. Traders wanting extensive altcoin breadth or cross‑currency USD‑centric rails may prefer larger, global exchanges, but they will forfeit the onshore regulatory protections that One Trading emphasises.

Conclusion

One Trading has deliberately staked a claim as a regulation‑first, execution‑focused European trading venue. Its core strengths are regulatory authorisations, a high‑performance matching and settlement architecture, and a fee model that rewards professional volume. These factors make it especially attractive to institutions and regulated intermediaries that need onshore derivatives access without offshore custody exposure. The principal limitations are a curated asset list and the early life of its full regulatory track record; transparency areas such as public reserve attestations and broad insurance disclosures remain points where increased clarity would strengthen market trust. For users who prioritise EU regulatory certainty and efficient euro‑denominated derivatives access, One Trading is worth evaluating closely; for those prioritising the widest asset selection or advanced option products, complementary venues or institutional prime brokers may still be necessary. As MiCA and MiFID II implementation evolve, One Trading’s dual‑regulated model could become a durable competitive advantage — provided it continues to broaden asset coverage and public transparency while maintaining execution quality.

Last updated: October 1, 2025