How to calculate IB Forex Commision??

Discussion in 'Forex Trading' started by Trend4Sight, Feb 5, 2006.

  1. Their site shows:

    To calculate the commision
    0.02 basis points * Trade Value = commision

    1 basis point = 0.0001


    Their example #1:

    I understand this one because of the minimum
    USD 50,000 trade for EUR = USD 2.50


    Their example #2

    I don't understand this one. If I multiply 0.02 * 0.0001 * 1,000,000 = 2.0 commision, not 20 that they show below. What am I doing wrong?

    USD 1,000,000 trade for EUR = USD 20.00


    Thanks