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What is the difference between minimum commission fee and trading commission fee?

Can anyone explain what is the difference between minimum commission fee and trading commission fee? Are they the same?

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No, they are not the same. Typically trading commission is charged either as a minimum fee or as a percentage of the transaction value. For example, SC charges 0.20% for SGX with a minimum commission of $10.70.

For the actual charge, you need to calculate the commission percentage from your transaction value. For example, 0.20% of a $1000 (share price x number of shares) transaction is $2. However since there is a minimum commission charge of $10.70, the commission payable is $10.70 instead of $2. On the other hand, if the transaction value is $10,000, the commission percentage value is $20. Hence the commission payable is $20 instead of $10.70. So whichever is higher will be commission payable.

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