The IBKR commission rate seems really off. I just spoke to TD Ameritrade - they said they will start offering MBT very soon at $2.25 per side which is nice.
Tradovate has the micro bitcoin (symbol MBT on Traodvate) live in production. Since we consider it a micro contract, it is only $0.25 per contract commission. Day trade margins are 50% of the initial margin. The initial margin is currently $2447 with day trade at $1224.
What do some of you guys expect? Why not ripping off those who want to buy a crypto that is made of thin air, no intrinsic value, and cant even afford the full contract. All micro contracts are a ripoff. Even normal commission is a ripoff, much more so micro contracts. You think those greedy exchanges and brokers are stupid? They see perfectly well that they can milk unassuming, naive millennials.
You are misleading people.if you want to compare cost you should compare apples with apples, all in cost.
We are not misleading anyone we are simply trying to help. It was stated TD commission is $2.25 per side. That cannot be their all-in cost because the CME exchange fee per side is $2.50 and that is the same for all firms. You add commission + exchange fee. At Tradovate the is $0.25 commission + $2.50 CME exchange fee = $2.75. At TD that would be $2.25 + $2.50 = $4.75.
So then please dont compare 0.25 with others which are all in fees. Compare your 2.75 which you now did. Thanks.