Hi everyone. After entering a trade on the Optimus Flow trading platform, if I adjust my stop-loss, let’s say five times, are there fees associated with each stop-loss adjustment? Thanks in advance for the responses.
Hi @lmjoseph,
Thanks for your question and welcome back to the Optimus Community forum! We’re glad to have you with us, and I’m happy to clarify your concerns about fees associated with adjusting working orders.
To put it simply, there are no fees or commissions charged when you make adjustments to your working orders. Fees and commissions are only incurred when an order is filled. This means that if you place a limit or stop order and decide to cancel it before it gets filled, there will be no charges associated with that cancellation.
Here’s a detailed example to illustrate: Suppose you place a limit order to buy a futures contract at a specific price. If you later decide to cancel this limit order before it gets executed, you won’t incur any fees for the cancellation. On the other hand, if the limit order is filled and the transaction goes through, that’s when fees and commissions come into play.
Similarly, if you decide to exit your position and place a new working order for this purpose, you won’t be charged for modifying this exit order until it is filled. Once the exit order is filled, that’s when you will see the corresponding transaction fees applied on your daily statement.
In summary, you have the flexibility to modify your working orders as often as you need without worrying about additional charges, as long as the orders remain unfilled. It’s only when the orders are executed that fees and commissions are applied. Please keep in mind that fees and commissions are deducted each night when your daily statement is released. Daily statements include all of your trade history, P&L, and fees/commissions - these are typically released within your account portal nightly.
If you have any more questions or need further assistance, feel free to reach out. We’re here to help!
Best,
Jake
Optimus Futures Support