Micro Bitcoin commission question

Discussion in 'Interactive Brokers' started by R1234, May 3, 2021.

  1. R1234


    Just bought 1 contract of CME Micro Bitcoin futures at IBKR and they charged me $7.52 commission.

    Does that seem right, especially for a micro contract?

    Wondering if its a glitch because today is the launch date of the contract.
  2. maxinger


    what is the micro btc symbol?
    Shadetree42 likes this.
  3. R1234


    Same as the big contract 'BRR'. But you need to choose the 0.1 multiplier
  4. ZKS31


    Can't really help if you don't tell us the symbol you used.
  5. The symbol is MBT

    Here's the CME specs: https://www.cmegroup.com/trading/equity-index/us-index/micro-bitcoin_contractSpecs_futures.html

    Not sure about the interactive brokers commission, but here is the commission table for NinjaTrader. https://ninjatrader.com/PDF/ninjatrader_futures_commissions.pdf

    Based on the commission table, it is $2.76 per contract per side if you bought a NinjaTrader lifetime license key. Is IBKR more than double?

    And intra day margin is only $500. Let the ES like day trading begin!
    Last edited: May 3, 2021
  6. R1234


  7. blink18


    It's a rip-off! Try to buy one bitcoin with micro contract and commission is $75 (10x 0.1 BRR "MBT")! However full contract with five bitcoins (1x 5 BRR "BTC") would cost you just $15.

    Try to buy five bitcoins with micro contract and you will go broke ($376 buy, $376 sell).
    Last edited: May 3, 2021
  8. ZKS31


    You're right.
  9. R1234


    ZKS31 likes this.
  10. ZKS31


    #10     May 3, 2021