orders greater than 10% from last trade, page-4

Thanks for your replies -

I have heard their argument but it only potentially manipulates the market should one place an order through the spread and then down through the depth. This is not necessarily what I intend to do. But lets say a buy/sell spread is 0.07-0.08 and last trade was 0.08 and I want to sell then they will not allow me to even sell to the next available bid at 0.07 as this would be in excess of 10%. What gets me is that other people seem to be able to do this and they merely set up automatic computer driven algorithms to monitor this.

I have tried Comsec Iress but it is not the platform seemingly it is the brokers themselves putting this restriction so IMO they are creating an artificial barrier to orderly operation of the market which should be governed by the actors in the market, not the brokers ... at least it should be an ASX (or a REAL regulator) call not up to the discretion of mindless broker computer algorithms.

Two things which really fired me up about this issue
1) Comsec told me it was my fault for trading in illiquid low priced shares!! The NERVE, I could have punched someone but telephone communications are not that advanced yet! (I don't really condone violence BTW)
2) The call centre monkeys seem to have been trained to quote "orderly market conduct rules" when there is NO rule governing this according to the ASX ... they should actually learn the rules they are quoting IMO, and not think they know more than their clients, if they did they wouldn't be manning the phones ... clowns! (Apols to those decent folk at the brokers who actually know what they are talking about! Just not the monkeys I have spoken to)

I have to say that on one occasion it cost me money (WHN 2 years or so ago) whereby they refused an order of mine only for the share price to fall lower than I wanted to trade, on the very next tick!! They ended up having to reimburse me for the loss and didn't charge me brokerage ... after a lot of fuming to management! But still they continue with this restrictive and unsophisticated policy.

Anyone have a solution? Thanks