I just can't get the IB forex commissions page to add up, maybe I'm just feeling extra stupid tonight...so let's run it though. Assume IDEALPRO, commission is 0.2 of a basis point, which is 0.00002 for say EUR/USD. Their second example is USD 1,000,000,000 daily volume for EUR = USD 20,000 All well and good 20,000/1,000,000,000 = 0.00002. Their first example is USD 50,000 daily volume for EUR = USD 2.50 This makes no sense as 2.50/50,000 = 0.00005 ...am I missing something here?
There's a minimum of $2.5 per order. Fees are > of $2.5 or 0.2 bps for size < 1,000,000 0.15 bps < 2,000,000 and 0.1 bps > 2,000,000 1 bps = 0.0001
I just know somebody could answer this if they wanted to... If the above figures are single trade sizes or daily volumes then why does the web page deal in monthly volume? I'm not sure I could make such a simple thing so confusing if I tried.
sorry, overlooked this thread. The price breaks are for monthly volumes. I didn't realize but I left off three 0's in the above post. The breaks are < 1 billion = .2 bps 1-2 billion = .15 bps > 2 billion = .1 bps per month