GameStop - Buy/Sell Limit Order "too far from last traded price"

[iguser3]

Hi, I am trying to trade shares on GameStop and putting in Buy/Sell Limits Orders for the Day -  e.g. a limit buy order for $150 and the Last Traded Price is $300 - I get the error message "Order too far from last traded price" !!

But the share price is SWINGING up and down a LOT...  and the price has already changed too much for you place it!! 

I read that there is a 20% up or down limitation across the board for all shares. I guess it's in place to stop someone adding an extra zero by mistake or something like that. BUT this is a SEVERE problem for a lot of people trading heavily on volatile shares like GME. 

Can you PLEASE QUICKLY add a prompt "Are you sure?" if it's a long distance away...  INSTEAD of just not accepting it at all. 

Thank you!! 

(note to moderator - please publish this post not the earlier one I had done as a guest)

[AspiringTard]

I agree. This needs to be done ASAP.

I called over the phone and they said it was not possible to lift this restriction, which is making me quite worried to be using the platform really.

[sheepier]

Yes this!

I missed several important trades that should have happened when I'm in bed at the other side of the world.

This is insane. I'm moving out of IG solely for this reason. Unfortunately it has taken a week so far to transfer my positions to another broker, and in the mean time I still can't place orders without staying awake all night watching the prices.

Absolutely unnecessary. Most other brokers have "profit taker" and "loss stop" which are very basic features. So you can even set your sell price (e.g. at 10x the current price) BEFORE you even place your order to buy them.

With IG, here I am, staying awake all night just watching the prices just so I can place the order. I'm tempted to write a program to do this... but then I'm already transferring out. Hopefully it happens soon because I'm already losing a lot of sleep

Edited March 11, 2021 by sheepier

[sheepier]

Also does anyone know if an existing order will get cancelled (when I'm asleep) if the market price gets outside the 20% range? Because that will almost certainly happen many times during a trading day in volatile markets.