You will be able to see the Order Cost on the Order Confirmation Window and Order Zone.
The ‘Order Cost’ is the total margin needed to open a particular position. It is calculated using the Initial Margin plus a 2-way taker fees. 2-way taker fees refer to the fee to open and fee to close. The actual fee charged/received depends on (order type) how the order will be executed (maker or taker order).
Order Cost = Initial margin + 2-way taker fee (fee to open + fee to close)
Fee to open = (Quantity of contracts/Order Price*) x taker fee
Fee to close = (Quantity of contracts/Bankruptcy Price derived from Order Price*) x taker fee
Bankruptcy Price for Long position = (Average Entry Price x Leverage) / (Leverage+1)
A trader places a buy limit order of 10,000 BTCUSD contracts at 6,400 USD, using 25x leverage.
Initial Margin = (10,000/6,400) x 4%
= 0.0625 BTC
Fee to open = (10,000/6,400) x 0.06%
= 0.0009375 BTC
The Bankruptcy Price for this position
= 6,400 x 25/(25+1)
≈ 6,154 USD
Fee to close = (10,000/6,154 USD) x 0.06%
= 0.00097498 BTC
For more details on the calculation of Bankruptcy Price, please click here.
So, the Order Cost of this position:
= 0.0625 BTC (Initial margin) + 0.0009375 BTC (fee to open) + 0.00097498 BTC (fee to close)
= 0.06441248 BTC
The trader will see the ‘Order Cost’ at the Order Zone and the Order Confirmation Window.
*Note: Order Price is used to calculate the Order Cost needed for Limit order while the Order Cost needed for Market order is calculated by the Market Price derived from the current market depth.