The most common reason for an order to be rejected is an invalid quantity or price value.
The minimum purchase quantity is $500 and the price must be a valid price step. Check the help panel in the buy and sell windows for correct price steps.
Another common reason orders are rejected is that an incorrect price has been entered (E.g.: $1000 instead of $10).
Orders may also be rejected or forwarded to a Designated Trading Representative for compliance reasons.
CMC Markets Stockbroking has obligations under ASX Business Rules and Corporations Law to prevent false and misleading trading and help facilitate an orderly market. Every order submitted to us is checked against certain criteria to ensure we are meeting our obligations. Some of these criteria are:
- Checks to see whether the client has 2 or more orders in a stock and whether these orders are trying to raise, lower or maintain a stock price
- Orders that materially affect the market and do not reflect the current trading history of that stock.