When orders are cancelled

Some orders types are cancelled when the market closes (such as Limit Orders) while others are cancelled due to a corporate action. The rest are cancelled by you.  

For corporate actions, as the stock may have been subject to a split or takeover, the underlying price may have moved significantly which may render your order invalid.  Orders will be cancelled in accordance with the US market rules.  

Rejected orders

When placing an order on Stake, you may get a rejection notice, which may relate to either the time in which your order is placed or the price you have entered the order. 

Here are the most common reasons:

• Market orders cannot be placed between 4:00-4:15pm US ET as the market is in halt at the end of the day. 

• Limit orders will be rejected if placed more than 3% above (for buys) or % below (for sells) the current market price. 

• Buy stops and sell stops are not 5 cents above or below (respectively) of the market price. 

• The security may no longer be listed - this only occurs when you try to sell a stock you own that has been delisted. 

• Market data may be missing for a security (i.e it may be in a trading halt)

• The order quantity exceeds account maximum order quantity, which is 10,000 units

• You have insufficient funds (for a buy) or insufficient holdings (for a sell) to place that order