OT, Larrybaz
As you said it's insane. If you complain they wanna sell it to you that it's the exchanges and the SEC who make these rules but obviously I tell them that this is BS since no other broker has ever invented these rules. They are trying to fine tune this capping issue for 12 months now, there is some stuff that has gotten better (for example until 6-9 months ago you couldn't buy any stock no matter what if the stock has been up 20% for the day), now that is gone but now you are at the mercy of the bid and ask and last price if you wanna buy something which is a big hassle if you trade thin pennies with wide spreads like I do a lot. I had more than once the situation lately that I had a stock for example with the last price at 02 and the bid at 02 and I wasn't able to sell into that bid because my sell order was capped at 023 for example. IB always tells you that they just wanna protect customers from fat finger trades or that they get slaughtered buying or selling pennies at the wrong price, so what I did now was to take screen shots of these situations and I will send them a ticket now asking them if that is the protection that they are talking about, not being able to sell at 02 when the price is at 02. Great protection really.
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