# Closing Trades

You can close your position at your chosen price.

***

#### Receive Profit or Remaining Collateral

* All applicable fees will be deducted from your collateral and transferred to the **Vault**.
* Slippage is fixed when closing via Market Orders.

***

#### Fees

* When closing a position, the following fees apply:
  * **Close Fee**
  * **Execution Fee (Free)**
  * **Holding Fee**
* These fees are deducted directly from your collateral before any profit or remaining balance is returned to your wallet.
* See [Fee Breakdown](/docs/trading/fee-breakdown.md) for detailed information.

#### Settlement

* Base on the Virtual Market Making Vault design, when the position is closed, settlement is made in LVUSD/LVMON based on what type of collateral you use, more details are shown below:

{% content-ref url="/pages/mG3aQdEru9ULVbVFBYBm" %}
[LVUSD Stablecoin](/docs/liquidity-layer/lvusd-stablecoin.md)
{% endcontent-ref %}

{% content-ref url="/pages/2zUHiBMVw7ExpQHWCRGi" %}
[MON / LVMON](/docs/liquidity-layer/mon-lvmon.md)
{% endcontent-ref %}


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