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 roundtrip 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.
At the time of this writing, IB's standard US commission was $0.005/share or $1.00, whichever is more, hence: Commission: Max(0.005 * Shares, 1.0)
For Australian users, I believe IB's commission rate is 0.08% of the position value or $6 whichever is higher, plus a 10% VAT. The formula for that would be: 1.1 * Max(6.00, 0.0008 * Shares * FillPrice)
