Hi all!
I have been trading in SIM for a few months. However, I will be transitioning to Live trading soon.
I have a funded IBKR account and I am looking into the commission fees.
Do we have to pay a 0,05% commission of the trade value? Can we not pay by the number of shares we take like in the U.S?
For example if someone buys 50 shares of AAPL at $150 per share.
IBKR (UK) - 50*$150=$7500 -- Which 0.05% off is $3.75
IBKR (US) - 50 shares * $0.0035=$0.175 -- So it doesn't even get up to the minimum, which is $0.35 per order.
Are we paying $3.75 for this order, while people in the US are paying $0.35 for it?
Or am I completely misunderstanding the commission structure?