Limit order up to 95% of free funds

Hi,

I noticed that I cannot create limit orders that result in more than 95% value of my available free funds.

It’s just annoying because after the order gets executed then I have to create a new one to buy all the shares I wanted.

Why does the 95% limitation exist? Can it be removed?

Thanks

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I hope this helps you:

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@BullChew, I can understand that for market orders. But for a limit order I should have a guarantee, that’s the whole point of limit orders, right?

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I have discussed this earlier. See Limit buy order won't get approved

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@David I see you have context on this issue as per your replies on similar posts.

Is there a plan to lift this restriction as well?

@diegos Planning to do so, probably after we launch pending orders for fractional shares.

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It appears that there is no such limit when you use “value” instead of “number of shares” when you create a market order. Just cleared all my free funds at once :smiley:

It also allows very detailed fractional stock amounts such as 0.024047

Is there any updates on removing the 95% fund restriction on limit order?

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Can someone clarify how this works with stamp duty? If I have £200 available and I buy £200 worth of stocks, do lose some of the stock due to having to pay for stamp duty?

Hello @Robinws,

The value of your order includes everything that would be required to open the position - meaning that the stamp duty will be included in those £200.