Encountering order rejections can disrupt your trading workflow. This comprehensive guide explains the various error messages you may come across, empowering you to swiftly diagnose and rectify the issues causing these rejections.
Error message | Detailed description |
Shorting not allowed | This error message means that the Sell action you wanted to perform on your account is prohibited.
Before placing a new order, please check if you have chosen the correct subaccount for the Sell trade, or move the securities to the correct sub-account before attempting the trade.
Sometimes, a "Shorting is not allowed" message can indicate an existing sell-stop order.
If you want to sell at market price, this stop order must be removed first. |
The price is out of the range | Please note that for the US market, the maximum allowable difference between a limit order price and the current market price is 100%. |
Insufficient margin | Kindly note that if you have "Working" orders, the margin will be blocked for "Working" orders due to potential execution. Please cancel these orders and then replace them to free up the margin. |
Quantity must be a factor of lot size | The Instrument Info tab provides the lot size, which must be used to determine valid order quantities. Please make the necessary adjustments. |
Suspicious price value | The entered price is significantly above or below the current market price. Please make the necessary price adjustments to your order. |
To reverse the position, close the existing position and place another order in the opposite direction | Please note that you cannot perform a trade that would result in a net position opposite to your existing position for the same instrument.
Examples:
Scenario 1: If client has 1 BTC.USD in short, and opens long 5 BTC.USDs, the system won't let the client to have 1 short & 5 long BTC.USDs at the same time. Instead, the system will net the positions, resulting in a net long position of 4 BTC.USDs (+5 - 1 = 4).
Scenario 2: If client has 1 BTC.USD in short, buying 1 BTC.USD will close BTC.USD position (+1 - 1 = 0). |
Unsupported action | Looks like there is an attempt to place, cancel, replace, or modify an order during a Scheduled Break.
If you want to:
Place New Orders: Wait for the regular trading session to resume.
Cancel or Modify Existing Orders: These actions are permitted during the pre-market session.
You can always find detailed information about the trading session in the Instrument Info tab in the desktop trading platform. |
Harmful stop loss | The stop-loss order price is invalid. Please correct the price before submitting a new order. |
Rejects on Market orders | Occasionally Market orders are getting rejected. Please use the Limit order type to place your order instead. |
Insufficient free money | Please use Limit orders to optimize margin usage. Market orders may reserve more margin than necessary. |
New Buy orders rejected | The error typically indicates that there is an open position in an expired instrument.
This error prevents you from opening new positions until the expired position is closed. |