How to calculate Commissions?

 
My broker has this string in the commissions section.

COMMISSIONS
0-10000               0.0028 % in USD per lot

How much is commission if I open a 0.01 lot position?
 
pavelion:
My broker has this string in the commissions section.

COMMISSIONS
0-10000               0.0028 % in USD per lot

How much is commission if I open a 0.01 lot position?

this means 2.8 $ per lot , and mostly they mean per one way , so the commission per lot = 5.6 $ so it is 0.06 for micro lot 

 
pavelion:
My broker has this string in the commissions section.

COMMISSIONS
0-10000               0.0028 % in USD per lot

How much is commission if I open a 0.01 lot position?
  1. Open a demo account with your broker and make a 1 lot trade or
  2. or even simpler just ask your broker :)
 

This is from an old post but its information can still be used as a partial reference ...

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Question about Tester Commisions and Swaps

Fernando Carreiro, 2017.01.12 23:25

Commissions can be represented as an equivalent value in pips yes, but not swaps as that is dependent on how long the order remains open and if it is hit by the triple swap day or not.

Here is an example (but will differ depending on some factors, for which you will have to change depending on your case):

The number of Pips that your commission ($ per million) represents in the case of GBP/USD and a USD Account Balance can be calculated as follows:

Pip Equivalent = Currency Price * Commission Rate * 2 Operations / 100

For example, if your GBP/USD Price is 1.62012 and your commission is $35 per million, then
Pip Equivalent = 1.62012 * 35 * 2 / 100 = 1.134084 ~ 1.2 pips (after ceiling adjustment)

If your average spread is 0.94 pips and commission is 1.2 pips, then total cost is 2.14 pips average.

EDIT: More details:
The "100" has nothing to do with percentage but rather the resultant value after factoring Contract Size and Pip Value for a Standard Lot of volume.

Here is the correct calculation in detail:
Contract Size = 100000 (Standard Lot Contract Size)
Pip Value = $10.00 (for Standard Lot of ???/USD and USD Account Balance)
Currency Price = 1.62012 (example for GBP/USD)
Value = Currency Price x Contract Size = $162012.00
Turnover = Value x 2 (open & close) = $324024.00
Commission Value = $35.00
Commission Scale = $1000000.00 (Million $)
Commission Rate = Commission Value / Commission Scale = 0.000035
Commission per Trade = Turnover x Commission Rate = $11.34084
Commission in Pips = Commission per Trade / Pip Value = 1.134084 pips

Thus the resultant simplified calculation is as follows:
Commission in Pips = Currency Price * Commission Value * 2 / 100
Commission in Pips = Currency Price * Commission Value / 50

EDIT2:
However, please note that this is an approximation, as we are using the same Currency Price for both the Open and Close of the Trade. To be exact, we would have to calculate separate commissions for the opening price and closing price, but the resulting difference from the above calculation is negligible. But if you wish, just use the average price between the opening and closing prices, in the calculation, for a better approximation.
Please note that this is only an example and depends on how commission is defined by your broker and in what currency it is expressed.

EDIT: Do a search as well. I found the following:

 
Amgad Megahed #:

this means 2.8 $ per lot , and mostly they mean per one way , so the commission per lot = 5.6 $ so it is 0.06 for micro lot 

Thanks. May you explain more cuz I didn't get it how you calculated it
 
Carl Schreiber #:
  1. Open a demo account with your broker and make a 1 lot trade or
  2. or even simpler just ask your broker :)
Its an idea and solution anyway, but I need to repeat it a lot to get other symbols commissions
Reason: