IB TWS Forex commission question...

[heispark]

I am new to IB TWS. In demo mode, I bought 100K EURUSD with commission of $2.45. Later, I sold it in two batches, each with 50K. In a screenshot attached below, I paid $2 commission to each 50K liquidation. I expected it should be $1.22 (half the $2.45). Why is this?

 

[Onra]

You're paying commission twice; to get in and get out.
$ 2.00 is your minimum per TRADE.
This might help:
https://www.interactivebrokers.com/en/index.php?f=commission&p=fx

 

[heispark]

You're paying commission twice; to get in and get out.
$ 2.00 is your minimum per TRADE.
This might help:
https://www.interactivebrokers.com/en/index.php?f=commission&p=fx

Then total commission I pay is $6.24? In Pepperstone or Dukascopy, I would pay total $8 in this complete trade.

 

[Onra]

Sounds about right, but also check the spread from these brokers!
That's often a "hidden cost", but EURUSD shouldn't make a huge difference...

 

[heispark]

Tried again, and in this time, I liquidated whole position without splitting. Now it says, total commission is $4.9. Why is that? This won't happen in other MT4 Forex brokers...

 

[cvds16]

IB isn't an MT4 forex broker ... what matters is the spread + commission ... hope you finally are getting it now ...

 

[heispark]

IB isn't an MT4 forex broker ... what matters is the spread + commission ... hope you finally are getting it now ...

So, conclusion is that when I take profit of half my position, unlike Forex brokers, I have to oay more commission than when I take the whole profit. Am I correct? If this is true, it doesn't make sense to me...

 

[cvds16]

Have you even read this: https://www.interactivebrokers.com/en/index.php?f=commission&p=fx which someone else posted ? If so you should know the answer that it all depends on the size you are trading ...

 

[Onra]

In his defence: it's IB; they are always overcomplicating things... :-(

 

[cvds16]

I would not advice to trade forex through IB ... like I said: Tickmill is great ... IB is quite good for options and stocks, good price wise for futures but not marginwise ...