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question about fees for holding a trade
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hey.

so I used to trade 1m-5m, recently 1h , I might go back to 5m but the trade may last an entire day or multiple days, who knows. I'm going to trade s&p500 strictly and see they have $3 fee or whatever it is on IBKR , which is integrated with tradingview so my option.

is the $3 round trip the cost of holding the trade, from open until close, until that futures contract expires, meaning the rollover, and when that rollover occurs, does my trade close on it's own or what happens?

I used to trade forex and on prop firms too, some of them would charge $700 CAD swap fee to hold a long position on s&P for a single day, another would charge $2.74 , and then flip around the next day, my concern is that I don't want to deal with these unpredictable swap fees and i'm hoping that this is not a thing in futures, that the $3 round trip ( or whatever ) , is the fee , and that's it.

you can imagine opening a $100 trade a few times and getting hit with 700 fees on each trade, it's just absurd, logically I would love to hold my trades 'when it's ready' , but this bad experience with shady fees and confusing brokers / systems makes me want to double check here if anyone can clarify what I should expect so I don't get demolished by some rat king broker.

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4 months ago