Is 14% the cost to participate?

Made my first ETH purchase on 3/27. Used My Ethereum Wallet (MEW)to buy $100 of ETH. Simplex receipt shows 0.048ETH purchase was complete 7:30pm for a value of $81.79, transaction fee of $3.97. Bank transaction for $100 complete. Can anyone help me understand where $14.24 went?

Is 14% the cost to participate? Did I choose the wrong wallet? Is there a better way to buy? Please help me understand or point me in the right direction. Thankful for any guidance and advice.