In some circumstances on Stake, you may be unable to place an order, or your order may be cancelled/rejected after placing it.
Cancelled/ Rejected orders
Here are the most common reasons for cancelled/rejected orders:
- Limit order was not executed during the trading session. All Limit orders are cancelled at the end of the trading session automatically if not executed.
- Market wide trading halt resulting in market data may be missing for a stock.
- The security is no longer listed, if you are attempting to sell a stock you own that has been de-listed.
- Limit order price was too aggressive. Our broker has measures in place that identify orders that are unrealistic and unreasonable in the context of what a stock is currently trading at. Therefore, your order may be cancelled if the price of the security is significantly different to the limit price you've set.
Outside of the common reasons for cancelled/rejected orders, corporate action related to a particular share may also impact your ability to trade a stock.
These corporate actions could include:
- Stock being subject to split or takeover.
- The underlying price may have moved significantly, which may render your order invalid.
Stake must act in accordance to the US market rules in these scenarios, which may result in cancellation.
Invalid orders (unable to complete order on Stake)
You will be unable to place an order in app under the following conditions:
- You do not have sufficient "buying power", meaning you have insufficient funds or other pending orders are impacting your buying power.
- You do not have sufficient holdings to place a sell order.
- You are trying to set up a limit order for a fractional amount of stock. Limit orders can only be created/executed for whole units of stock, e.g. if you hold 2.5 of TSLA stock, you will only be able to create a limit sell for 2 TSLA stock and the remaining 0.5 TSLA stock must be sold using a Market Order.
- Buy Stop and Sell Stops are not 5 cents above or below (respectively) the market price.
- Your order is above the maximum order size of $500k USD (please note that this rule is currently in place on the web only. We're working on getting this removed, & there's no current limit on the app)
- Your order is under the minimum order size of $10 USD.
If you are unsure of the reason your order was cancelled/rejected or you were unable to place a trade in the Stake app, please reach out to our customer support team and we can investigate this for you.