Many consumers with a couple of bucks to their name and access to the Internet are trying to figure out ways to gain more control over their financial assets. One such way is by opening an online trading account and acting as your own money manager.
When it comes to online trading, buying and selling stocks are only the tip of the iceberg needed to become financially savvy and understand all the procedures along the way. One such process is getting an “online trader order filled.”
Some Online Trading Transactions Aren’t Filled
When an online trade order gets filled a request from a customer is passed onto a broker who then successfully completes the transaction of either buying or selling a stock, bond or commodity on the exchange. Sometimes a request cannot be met and an online trade order cannot be filled.
If you have already experienced the agony of defeat for not having your online trade order filled, there are several reasons why that situation could have occurred.
Reasons Your Order Didn’t Get Filled
Although you have access to your online trading account 24/7, the stock market still sleeps at night.
If you enter a trade request during non-business hours of the stock market and not in real time, but the time the market opens your monetary limits may not match up with the pattern of the day. Meaning that if you put in a bid to buy some shares on off-hours, when the stock market opens, the stock value may quickly exceed your bid price and thus making it that your online trade order did not get filled.
Additionally, perhaps you put in a bid for a purchase and miscalculated the dollar amount of your purchase versus the amount of funds available. If you do not have the money on deposit to back up your purchase your online trade order will not get filled.
Commonly, an online trade order works in real-time. If you place a real-time limit order it will not be filled until after the bid for a sells or ask price for a buy is met or beats the amount. In the case of market fluctuations, you may find that your online order, especially for large quantities of stock, may only get partially filled. This may occur as the brokerage firm you use may leave the order open to see if the price returns to the limit parameters. If the market moves, the brokerage will continue to fill your order, but if not a partially filled limit order will close for the day.
If you experience the frustration of your online trade order not getting filled, you should contact your brokerage’s customer service line to find out the exact reason why. With that new knowledge in hand, you can help prevent future occurrences from happening.