Does anyone else have problem with Commsec and executing a trade, if the trade in more than 10% different to the value
i called commsec and told them i am instructing them to buy 100,000 options at whatever the first person selling 100,000 wants to sell them for, i have money in the account they can see that. There was 1,000,000 options on offer so i was just buying at market.
commsec said no i cannot buy the cheapest options as they are being sold too far from current market.
This is insane, if someone is offering and i am willing to buy why is commsec stopping me, if i want to light my cash on fire thats my choice.
The same issue when i want to sell, i want to put them in for $1, when they were trading at 20cents. commsec rejects as too far from price......
Now options are worth $0.00001 with major announcemnt on monday that might get them into the money again. but how will they move up if everyone has to buy and sell within last 10% sale; and if you have to buy and sell $500 at a time this doesnt make sense. The options can never jump on great announcemnt without someone selling for cheap first......
does anyone else have this issue with commsec and is there a better broker to use.?????
