Sell Order Failed - Possible Error?

šŸ¤ Help
1

Hello,

I tried to make a Sell order of COCP stock on Thursday evening. The order failed and I received a notification on both my phone and desktop:

ā€œSELL (number of shares) COCP Your order was cancelled due to insufficient fundsā€

Obviously this is very concerning that I cannot execute an order. I have paid for the stock so I do not see a reason why I cannot sell it.

The amount of stock I wanted to sell was incorrect in the notification.

At the time of the order I had less than 10% of the total value of the shares in my free funds. But I only tried to sell about 25% of my shares? I did have a Stop Limit order on my shares, but these appeared to be sold several hours earlier according to my history.

My friend has had a similar experience with off loading shares. He said he had to restart the app to sell his shares. I used both my computer, laptop and mobile to attempt to sell the shares with no luck.

Iā€™ve tried contacting Trade 212 support but Iā€™ve not had any luck with them. A representative got in touch with me to say my query in been processed, but I have not heard anything for nearly 2 days now. Really not impressed.

Any help would be greatly appreciated.

2

Which account are you in? Invest, ISA or CFD?

3

Hi Donald,

This was using the invest account.

4

Would anyone from the @trade212 @Team212 team like to take a look at this?

5

Are you trying to sell shares that you own (hold) or, are you trying to sell as in short sell the share in which you own?

6

Hi Cashurkash,

I own the shares. Not trying to short it. Could this be a liquidity issues?

7

are the shares in a pie at all? weird its not letting you sell shares on an invest account that you own as having insufficient funds. Can understand the latter if trying to short sell and dont have the funds to cover it

8

Thanks for the response and help Cashurkash. I canā€™t see any options for creating pies, or checking them in my account. Iā€™ve never created a pie or used autoinvest. Iā€™m in the UK so maybe itā€™s a different app version? I donā€™t know. I am checking the ā€˜how toā€™ but what I am seeing doesnā€™t correspond with the instructions. I am using Trade 212 on Desktop and mobile. Thanks again.

1 Like
9

Im UK also (technically speaking but live in Northern Ireland) and havenā€™t had this issue myself. Its a strange one. Did you send support a message about it?

10

Yes, sent a message to them on Thursday, they said they were looking at the situation and would get back to me asap. Havenā€™t heard anything from them since. Emailed them a couple more times since and still nothing.

I will try and sell a few at open today, but I would still like a definitive reason as to why I could not sell.

Tagging @Team212

11

hopefully you find out soon and get the sells today

1 Like
12

So I managed to sell 10 shares on opening. It took a while to process but Iā€™m guessing its just because itā€™s a busier period. I donā€™t know if this will work if I try and sell a larger amount.

Would still be great to get an answer for why it didnā€™t work from Trade 212. @Team212

13

maybe just the liquidity. Numbers shouldnā€™t really matter when selling

14

Hello,

The displayed message and failure of placing the market sell order was due to the fact that a stop limit was already in place, which locks the quantity, hence, you are not able to sell it as a market order. Should be also noted that the stock in question has a relatively small market cap, which may be the reason for lack of liquidity.

2 Likes
15

Thanks @PeterA :slight_smile: great learning to be had everyday here!!! So, when you place a stop limit it takes the total of which you set out of trading more or less?

1 Like
16

Thanks PeterA for your response. Looking through my history it looks like a Stop Limit was in place, but itā€™s impossible (as far as Iā€™m aware) to see exactly what time I cancelled it from looking at the history. I think itā€™s a safe bet that this is what has happened.