Micro Bitcoin commission question

R1234

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.
 
R1234 said:
Just bought 1 contract of Micro Bitcoin 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.
More...

what is the micro btc symbol?
 
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!
 
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R1234 said:
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.
More...

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).
 
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