Why was my order rejected?

There are a number of reasons why your stock order could’ve been canceled or rejected:

  • Your order was routed to one of our executing brokers that can’t accept orders for a particular stock: In this case, simply reenter the order, and one of our stock brokers will make sure it gets routed appropriately. If you continue to experience issues, please send us a note.
  • Your order is outside the bid/ask threshold: If you place an order for a stock that exceeds Nasdaq’s price threshold, your order may be canceled during a risk check. This could happen if you place a sell order that’s much higher than what customers are paying, or a buy order that’s much lower than what customers are selling for.    
  • You incorrectly placed a stop order: A stop order converts to a market order or a limit order once the stock reaches your stop price. However, if you set a stop order for a stock at its current price, we’ll reject your order. Additionally if you set a stop order which would execute immediately (e.g. a buy stop order below the current market price, or a sell stop order above the current market price), we’ll reject your order.
  • The stock executed a split: If a stock undergoes a reverse split, we’re required to cancel all open orders.
  • Margin call risk: Your Good-til-Canceled (GTC) BUY Order(s) could be cancelled if your account doesn't have enough buying power to support them. Buying power is the amount of money you can use to purchase stocks, options, or cryptocurrencies.You may find yourself with negative buying power if your portfolio value drops below your initial margin requirement. While having negative buying power doesn't necessarily mean that you're in a margin call, we cancel these orders because they would put you at a much higher risk of a margin call.
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