That minimum trade rule applies to thee and me, but not to brokers or instos. That's how they get away with it, and of course, brokers and instos with Direct Market Access trading bots don't have to pay themselves brokerage either.
That TOX bot is really driving the price down this morning in big jumps, several cents at a time.
If I tried to put in a small order that crossed the gap like that, I'd be getting an urgent phone call from CommSec within minutes. I know - it has happened before.!
I tried to complete a BUY order several months ago, on the closing auction, with only about 30 shares outstanding from the 10,000 I bought that day, so I put the order up across the gap on the closing auction, and the order was rejected and I got a call from CommSec threatening me that if I did that again they would ban my account. They thought I was trying to support the price by pushing the closing price up, whereas I was actually just trying to complete a buy order.
But these bots seem immune to that sort of regulation - grossly unfair and most definitely NOT a level playing field!
Makes little difference to me in the long run, as I already hold a BIG parcel of TOX from way back below 2 cents in the old money, having averaged up several times. I have enough, and I have no intention of trading or selling the ones I've got.
TOX Price at posting:
$2.47 Sentiment: LT Buy Disclosure: Held
