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Category
Strategy Elements
Description
Commission amount, in dollars, for each trade
Input
Formula specifying a dollar amount
Notes
If your broker charges no commissions, omit this formula or set it to 0.
If you pay a flat fee for every trade, simply specify that number.
Commission is calculated and charged separately for entry and exit transactions, so round-trip commission is twice the value of this formula.
If FillPrice is used in the Commission formula, it will automatically retrieve the entry price for the entry commission and the exit price for the exit commission.
The formula for the standard US commission at Interactive Brokers is: Min(0.01 * FillValue, Max(0.005 * Shares, 1)).
IB's Canadian commission formula is: Min(0.005 * FillValue, Max(0.01 * Shares, 1)) -- yes that's correct, the 0.01 and 0.005 are reversed vs. US.
The Australian commission formula for IB is: 1.1 * Max(6.00, 0.0008 * FillValue) -- the 1.1x is the 10% GST and the remainder is the IB commission.
For US IB commissions, you can omit the "Min(0.01 * FillValue" part unless you intend to trade penny stocks. By definition a stock would need to be priced below $0.50/share for 1% of its value to exceed $0.005/share.
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