Ensre order stays below target $ purchase, instead of overdrawing
complete
E
EdwardHughes
Pearler should offer a feature to ensure the actual $ invested when placing a purchase order is less than or equal to the $ entered by the client, instead of overdrawing cash if the price increases. This could achieved by reducing where the number of shares to be purchased if the price increases.
Currently, when placing a purchase order on Pearler we enter a total $ value. This is converted to number of shares based on expected market price, but then market price can move, so total purchase may exceed original value entered, possibly even overdrawing your account. Normally this is tiny, but for one LIC the move was nearly 4% for me!
Hayden Smith
complete
We are limited to some extend by underlying provider technology. We have developed a system that identifies the vast majority of risk situations by requiring the use of limit orders. This seems to have reduced this impact significantly.