TL;DR: Futures trading commissions are part of your total trading cost, known as the all-in rate — which includes the broker commission, exchange & NFA fees, and the clearing fee. Your full cost per trade = Number of Contracts × All-in Rate × 2 (covering both entry and exit).
Every futures trade has costs attached, and the commission rate is only one part of the picture. The total cost per contract when an order is executed is called the all-in rate.
What makes up the all-in rate?
The all-in rate has three components:
Commission — the fee charged by the broker for executing the trade.
Exchange & NFA Fee — charged by the exchange and the National Futures Association. This fee doesn't vary between brokerage firms, but does vary between different futures contracts.
Clearing Fee — charged by the clearing firm (also known as an FCM). This can vary between brokerage firms, but doesn't vary between futures contracts.
You can look up the fees and commissions for a specific instrument on your platform's pricing page — simply search for the instrument to view its associated "Commission/Fees." For example, NinjaTrader's rates are available on the NinjaTrader Commissions page.
How do I calculate the commission per trade?
Because every trade has two sides — an entry (open) and an exit (close) — commissions and fees are charged twice. So always double the per-side rate to get your full cost:
Commission per trade = Number of Contracts × All-in Rate × 2
Example
You place a Buy trade of 3 contracts on the E-mini Nasdaq-100 (NQ), where the all-in rate is $2.88 per contract:
3 contracts × $2.88 × 2 = $17.28
So your total commission for opening and closing this trade would be $17.28.
