My Orders for QQQ3 ETF (trading on LSE) keeps getting rejected

[Guest sid-shanker]

Hi

 

I am a beginner with the ig trading platform, and was trying to place an order in QQQ3 ETF in the demo account. But I keep getting the message with "Order Rejected". There does not seem be an issue with the demo margin. Also I have tried placing orders with a limit, as well as a stop loss. But orders still getting rejected. Even if I try an OrderSize of 1, or a round lot size of 10/20?

 

Any help would be greatly appreciated. As the platform is not even giving a reason for the OrderRejection.

 

Thanks

Siddharth

[Caseynotes]

15 minutes ago, sid-shanker said:

Any help would be greatly appreciated. As the platform is not even giving a reason for the OrderRejection

Hi, you have the Deal ticket up which is a 'at market' order but the market is closed, if you switch to the Order ticket next to it should be fine. see pic below.

[Guest sid-shanker]

Thanks for your input Caseynotes. But QQQ3 is listed on the LSE so is open right now. The price and quotes are updating regularly.

I tried placing an Order as well, but it still gets rejected.

The executive on the phone mentioned that due to falling liquidity of the contract, they have stopped allowing to open positions in this contract. Is there any other 3x leveraged ETF of QQQ allowed still to be traded by a retail UK investor, listed with IG.?

[Caseynotes]

3 minutes ago, sid-shanker said:

The executive on the phone mentioned that due to falling liquidity of the contract, they have stopped allowing to open positions in this contract. Is there any other 3x leveraged ETF of QQQ allowed still to be traded by a retail UK investor, listed with IG.?

ok, I did put an order on just to check before I posted and it was accepted but just now trying again it's not.

these came up in the search for QQQ though the boost pair were 'for closing only'.

see below.

 

[247trader]

Don’t you need a certain level of qualification to trade leverage ETFs? 

[Guest sid-shanker]

Actually there is no requirement to be a professional trader for taking positions in Leveraged ETFs. A retail trader can take a position in any financial instrument which has a KID (Key information document). The leveraged ETFs issued by Boost have the KID's available. So a retail UK trader can take a position in them. 

Although some other leveraged ETFs, issued by firms in US and elsewhere, like TQQQ (by ProShares), dont have a KID, and can't be traded by retail traders.

Edited July 19, 2019 by sid-shanker