Micro Bitcoin commission question

blink18 said:
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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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.
 
Here's the commission price I got
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R1234 said:
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.
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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.
 
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.
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$4.77 at TDA.
 
You are misleading people.if you want to compare cost you should compare apples with apples, all in cost.

Tradovate said:
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.
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DiceAreCast said:
You are misleading people.if you want to compare cost you should compare apples with apples, all in cost.
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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.
 
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So then please dont compare 0.25 with others which are all in fees. Compare your 2.75 which you now did. Thanks.

Tradovate said:
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.
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