Commission

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A fee charged by a broker or agent for their service in facilitating a transaction. [1]

Futures

In futures trading a commission may be charged at the time a position is initiated, when it is closed, or both. Some brokers charge commissions up front, especially for futures options trade. Others will only charge a commission after the trade is completed. And, others may structure the charges to be applied half when the trade is initiated and half when the trade is closed, commonly referred to has half in/half out.

Futures commissions are commonly quoted on a round-turn basis, which means the price for a complete purchase and sale of a single contract.

References

  1. Commission Definition. InvestorWords.