Is a Fomo Referral Code Worth It?
Yes, and code DEAL is worth more than the standard 10%. Any Fomo code cuts your trading fee from 0.50% to 0.45% at no cost to you; DEAL also returns 12.5% of the fees you pay. How much that adds up to depends on how much you trade.
A year of savings with DEAL
| Monthly trading | Fees a month, no code | With DEAL, after cashback | Saved a year vs no code | Of that, from DEAL's cashback |
|---|---|---|---|---|
| $500 | $2.50 | $1.97 | $6.36 | $3.36 |
| $2,000 | $10.00 | $7.87 | $25.56 | $13.56 |
| $10,000 | $50.00 | $39.37 | $127.56 | $67.56 |
| $50,000 | $250.00 | $196.87 | $637.56 | $337.56 |
| $100,000 | $500.00 | $393.75 | $1,275.00 | $675.00 |
| $250,000 | $1,250.00 | $984.37 | $3,187.56 | $1,687.56 |
Spot trades at the standard fee; network fees not included. A buy and a later sell count as two trades.
Small trader: a few hundred dollars a month
The savings are cents to a few dollars a month. And if most of your trades are small Solana trades under 190 USDC, Fomo charges fixed or minimum fees there (0.10 USDC, 2% or 0.95 USDC by size), and Fomo doesn't say how the referral discount applies to them (Fomo: trading fees). The code still costs nothing, so there's no reason to skip it.
Active trader: about $10,000 a month
About $10.63 a month less than with no code, or $127.56 a year. $67.56 of that is DEAL's cashback, which a code without cashback wouldn't give you.
Big trader: $100,000 a month or more
About $106.25 a month less than with no code, $1,275 a year. Above roughly $89,000 a month your cashback passes 50 USDC within the month, so it's paid weekly instead of monthly.
Perps traders
DEAL's cashback also counts the 0.05% Fomo charges when you open and close a perps position. Fomo doesn't say whether the 10% referral discount applies to perps. Details: Fomo perps and DEAL.
When a code doesn't help
If you already have a Fomo account, a code can't be added, so none of this applies to that account. Network fees, token creator fees and Hyperliquid's perps fee aren't reduced by any code either.
Questions
Is a Fomo referral code worth using?
Yes, it only lowers your costs: 10% off every trading fee, at no cost to you. With DEAL, 12.5% of the fees you pay also comes back.
Who gains the least from a code?
People who mostly make small Solana trades under 190 USDC, because those trades carry fixed or minimum fees.
How much more does DEAL give than a code without cashback?
12.5% of your Fomo fees: about $5.63 a month for $10,000 of trading, or $67.56 a year.