This is the second time that happens to me. I sold some of my shares, the money appears as “Unsettled cash”, and even though it says that I can re-invest the money before settlement I couldn’t buy a share of Booking Holdings. Trading is about opportunities and this kind of situations are very annoying and disappointing. I hope Freetrade does something to avoid this.
And before anybody asks. Yes, I did retry many times, waited several minutes retried many times again and always was rejected.
Might be best to speak to in app chat about this as they’ll know what the issue is
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I did, but the app says they will reply tomorrow and by the time they do it the US market is closed, so in other words, it will be too late.
Im sorry to hear that your orders have been rejected. As far as I know there’s no particular link between placing orders with unsettled cash & orders being rejected. So we’ll look into this tomorrow & if there’s a bug, we’ll make sure that’s fixed for you.
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I think it would be really helpful to have more clarity on this screen over reasons for rejection on each order.
At the moment it’s really confusing to see an order rejected and there are no clues as to how to recitfy it. As there are only a few possible reasons it should be possible to give guidance as to why on this screen (e.g. due to price changes try bidding more, due to no quotes - try again later). A link to more detailed explanations for each reason would help a lot, even if the answer is ultimately not helpful for day trading (say you can’t get a quote) it would help explain the limitations of your platform to people so they understand what is going on.
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Definitely! We’ll add more details about why orders have been rejected in the future.
Since you mentioned this, we’ve written a blog post about why orders typically get rejected already but obviously this isn’t as good as showing a reason in the app -
Dealing with (order) rejection
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Great to hear, thanks.
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Spotify seems to be doing the same thing too