Pricing at K33: Clear, Fair, and Focused on What Matters

Pricing is one of the most important, and often most confusing, aspects of digital asset trading. Fees, spreads, and execution quality are frequently presented in different ways across venues, which can make it difficult to understand what you are actually paying. At K33, we believe pricing should be clear, fair, and focused on what matters most: the price at which your trade is executed.

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This is how we think about pricing, and why.

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You’re Trading an Asset: Price Is What Matters

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When you trade, you are not buying a fee, a margin, or a spread.

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You are buying or selling an asset:

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• When you buy, you want the lowest possible price
  
  
• When you sell, you want the highest possible price
  
  

Everything else is secondary.

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A useful analogy is buying a car. When you buy a car, you care about the price of the car, not the dealer’s internal profit margin or cost structure. What matters is what you pay, all in.

Trading works the same way.

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A Few Words on Fees, Spreads, and Execution

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To put some common terms into context:

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• Fees are explicit charges added on top of a trade.
  
  
• Spreads are the difference between the best available buy and sell prices in the market.
  
  
• Execution quality reflects how close your trade is executed to the true market price, taking liquidity and timing into account.
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In practice, these elements are tightly linked. A low fee does not help if the spread is wide or execution is poor. What ultimately matters is the total execution price, the price at which the asset is actually bought or sold.

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That is the metric we focus on.

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What You Pay at K33

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At K33, the quote you receive is the final, all-in price.

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• There are no trading fees added on top, or withdrawal fees for that matter
  
  
• There are no hidden costs
  
  
• There are no post-trade adjustments

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Once you accept a quote, you know exactly what price your trade will be executed at.

This is what transparency means to us.

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Why We Don’t Publish a Single “Fee” or “Spread”

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It’s natural to look for a single number when comparing trading venues.

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The challenge is that no single percentage can accurately describe the cost of a trade across different market conditions, currency pairs, sizes, and points in time. Publishing a fixed fee or spread can create a sense of certainty that doesn’t reflect how markets actually work.

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Rather than relying on headline numbers, we focus on delivering clear, executable quotes that clients can evaluate and compare directly.

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That comparison, based on real prices, is the most meaningful one.

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Fairness and Alignment

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All clients trading on our default terms receive the same pricing standard.

This includes the same pricing our CEO would receive on default terms.

We believe this alignment is important. It helps ensure pricing is consistent, fair, and not arbitrary.

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When Pricing Is Especially Important

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Some clients trade frequently or in size, and pricing is critical to their strategy.

In those cases, we are always open to a direct conversation about what pricing level is required for K33 to be relevant for your use case. That discussion focuses on execution quality, liquidity, and relationship, not on internal margins or accounting concepts.

The objective remains the same: delivering a price that makes sense in practice.

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The Standard We Aim to Set

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Our goal is not to overwhelm clients with technical explanations.

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It is to make pricing:

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• clear before the trade
  
  
• fair at execution
  
  
• easy to compare afterwards
  
  

In our view, this should be the standard for digital asset trading, and it is what we mean by the New Gold Standard.

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Torbjørn Bull Jensen

CEO, K33

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