Thank you for your far-better description of what was (likely) taking place!
(I had known that my scenario was probably a gross oversimplification and maybe even distortion of the true circumstances.)
QUESTION: Does the act of placing a large limit order cost money? I.e., is there a fee associated with it? Would that cut into their (illegal) profits?
Regards,
It may not if it were the traders controlling the market.
No, any fees apply only upon execution (a fill) just like with your or my trade(s)
Of course, it’s inconceivable they do not have seats on the applicable exchange. That means they pay much lower fees per trade, but pay an annual fee for membership. The commodity exchs do not have this a “zero commission: thing that the stock exchanges do.
Scrutiny was likely applied to their acct due to the number of order cancellations.