Let's conduct an experiment. You can use two accounts, 1 and 2, both starting with the same initial capital. Account 1 has a rebate while Account 2 does not. Assume that both can carry out the same trades simultaneously. The final result will be: if Account 2 profits, Account 1 with the rebate will definitely profit even more; if Account 2 breaks even, then Account 1 will definitely be net profitable; if Account 2 incurs a loss, then Account 1 may still be net profitable or break even.
How are the fees calculated?
For example, if you open a position using 100 capital with 100 times leverage, the fee is 100×100×0.05%=5 yuan, which accounts for 5% of the capital. This is just the cost of opening the position. If you add the cost of closing the position, the fee can reach up to 10% of the capital! Now you see why some people say that the fees for contract trading are ridiculously high, right?
If you open 20 positions, the fees can be roughly equal to the capital. Many high-frequency contract traders end up accumulating fees that exceed their capital in just one month.
So you definitely need to have a rebate. Never underestimate the fees; the contract fees are much higher than you think. Each transaction quickly surpasses the capital. I have listed the steps to check the fees below, and you can look it up yourself.