InteractiveBrokers Crypto Commissions

I am a new AmiBroker user and relatively new to trading as well.
My immediate concern is correctly translating InteractiveBrokers’ (IBKR’s) Cryptocurrency Commissions (and trading fees) into AmiBroker’s SetOption settings to achieve realistic backtests. This is not rocket science, to be certain, but could use some second opinions regarding an apparent issue.

According to the information at URL https://www.interactivebrokers.com/en/pricing/commissions-cryptocurrencies.php, the IBKR crypto trading fees are described thusly:

“...cryptocurrency trading with Paxos on Interactive Brokers' platform has a low commission of just 0.12% to 0.18% of trade value with a USD 1.75 minimum per order (but the minimum is subject to a cap of 1% of trade value)…”

and

“...Paxos will charge a commission on every trade of 18 bps of trade value, subject to a USD 1.75 minimum commission on any executed order.”

Sandwiched between those two descriptive paragraphs, however, sits a “Fee Structure” table that seems to contradict the above information that says the following:

If Monthly Trade Value (USD) <= 100,000 Then
Fee = 0.18 * Trade Value (note: the number 0.18 is in BOLD typeface. Perhaps bold arbitrarily implies BPS? )

Am I right to interpret the above “Fee” calculation as a typographic error? I hope so; 18% <> 0.18% !

I want to believe the less costly commission rate is the actual truth. Are there any AmiBroker users who can qualify this fact?

In the mean time, I have translated the crypto fee structure into code the following way:

// Requirement #1: Minimum per order, USD 1.75
SetOption( "MinPosValue" , 1.75 ) ;

// Requirement #2: Minimum per order...but no more than 1% of Trade Value
SetOption( "AllowPositionShrinking" , True ) ;
SetOption( "MinShares" , 0.01 ) ;

// Requirement #3: Commission = 0.18% * Trade Value
SetOption( "CommissionMode" , 1 ) ; // Percent of Trade
SetOption( "CommissionAmount" , 0.18 ) ;

Any insights and advice on this matter are warmly welcomed. Thank you for your consideration and any feedback you might provide.

MisterG

@MisterG - you can use the paper account to place an order and then look at the details (either in TWS or download a flex query csv) and see at what the breakdown of the commissions/fees are.

Hi @MisterG
You could also consider trading futures on cryptos if you find commissions too high (fixed price, $10/lot)
https://ibkr.info/article/3049
Good luck
PS: I don't trade cryptos.

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