Jump to content

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

Recommended Posts

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

snapshot_reject.png

Share this post


Link to post
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.

image.png.b4595d5760af4ac0dffd7eb44f6ec4eb.png

Share this post


Link to post

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.?

reject_again.png

Share this post


Link to post
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.

image.png.e3eb83eee7175296b2228bfc63c7ac44.png

 

Share this post


Link to post

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

Share this post


Link to post
Posted (edited)

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 by sid-shanker

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Member Statistics

    • Total Topics
      7,284
    • Total Posts
      36,246
    • Total Members
      46,209
    Newest Member
    Bucephalus
    Joined 25/08/19 00:57
  • Posts

    • Hi all,   I was wondering - for afterhours and weekend trading, when the indices are closed, what're the price movements actually based on? For example, I discovered that there's weekend trading for the DJI just a while ago. Without having known this, I'd just have looked at the open on Monday and saw this it had gapped down (as expected).  Under the hood, what's causing these changes in prices? I was under the (presumably wrong) impression that when the market is closed, no trading can take place and hence there wouldn't be changes in price. The same would apply for stocks where after hours trading is allowed (e.g. Netflix, Visa where it says "all sessions"). Thanks so much in advance and best of luck to everyone this week ahead!   Best, Garafont
    • UK Central Bank Chief Sees Digital Currency Displacing US Dollar as Global Reserve https://www.coindesk.com/bank-of-england-governor-calls-for-digital-currency-replacement-to-the-dollar This is an interesting article. Countries around the world are seriously questioning the USD's position as the world's reserve currency. It may not be Bitcoin or any Cryptocurrency first that replaces the USD but if there is any digital currency which replaces the USD then it will certainly be an interesting stepping stone towards the path of such a possibility in the years to come. I am talking of in the next twenty years or so. I do not expect anything imminently or even in the next five to ten years. 
    • This is a very interesting article and worth a read if you are interested in 'Crypto' from an investment perspective. Crypto Funds Are Outperforming – You Shouldn’t Be Surprised https://www.coindesk.com/crypto-funds-are-outperforming-you-shouldnt-be-surprised  
×
×