Price too low to set limit order

Why can you not place a sell for any price? I get the below message:
“The entered price value is too far from the current market price.”

This isn’t actually true as the price of the stock has fallen by 38% pre market so the price i am placing a limit for is actually the market price. Anyhow, why does this limit exist?

T212 only tracks during normal market hours, so no matter what movement happens in pre-market, the platform cannot receive or display it, which is why the limit orders won’t allow you to place the order.

the limit exists to prevent price manipulation via pending orders. your best bet if you track the pre-market movements, is to try and place the order right as the market opens and the first data feed is received at the new price.

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@hmodh Could you please provide us with the name of the instrument?

This was Arcturus therapeutics (ARCT)