why 3 million volume sellers at 18 cents ?, page-6

FactorThis, I hear you. Commsec has quoted that to me in the past but it is just plain wrong. It is not a ASX governed rule but according to the ASX is allowable at the discretion of the broker. No-one at Commsec has been able to provide a valid or correct reason for the restrictions placed on placement of orders and I have had to have the discussion more than once unfortunately. It is one of my greatest peeves with the way the market operates that the brokers can restrict your ability to place an order however you want (compliant with ASX Rules). If it was an ASX rule then in some way it would be acceptable, but since it is solely at the discretion of the broker it is a huge issue imo. The fact that the monkeys on the phones (and their managers who I have spoken to also) quote ASX Rules is particularly vexing. At least they could be honest, or, giving them the benefit of the doubt, know what they are talking about. If someone wants to place an order at 18c that is fine ... so long as everyone can do it!! But Commsec has decided we retails are second rate actors in the market and place their own restrictions on us, their clients. Four years since I first ran into this I still have not got the answer even after going the whole way through the issue with the ASX themselves. ASX suggested I speak with Commsec who then went on to quote these non-existent ASX Rules ... grrrrr ... it made me feel better when this actually cost me money on WHN a few years back and I managed to (through a lot of yelling down the phone) get Commsec to make me whole costing them a massive ~$400 ... well, better their $400 than mine!!