I placed a limit order for buying shares in IBKR but received the message about "market price cap" . I checked the orders & trades panel and it showed that my order had been cancelled, why so?

Hey Elliot,

I have yet to come across such issue while trading on IBKR. I assumed that the price limit for the share you have set is either too low or too high above the market rate. Some executing brokers may set a price limit for a buy order to balance the trade and price risk, thus cancelling your order or delayed it. Certain exchanges may also impose their own price cap that result in the same situation.

As for the other questions

1. As mentioned, have not encouter this issue yet. I only buy stocks within the comfort zone of my spending power. And definitely watch the stock for a period of time and do your sums.

2. I think IB by itself is very versatile. The only limit so far will be unable to purchase SG stocks because I open with an SG account.

Hope this helps!

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