Experiencing a rejected trade order can be frustrating for traders on platforms like Coins.ph. Understanding the common reasons behind these rejections can help you avoid future issues and enhance your trading experience.
Common Reasons for Trade Order Rejections
Below is a list of possible reasons as to why your trade orders on Spot Trade might have been rejected:
1. Exceeds Limits
Your order may exceed the limits of the current asks/bids placed in our platform. This is an in-built security feature that protects users from potential market manipulation.
2. Insufficient Balance or Crypto Assets
You currently have open orders that are placing your funds on hold and/or you do not have enough funds for the selected currency pair.
3. Order Did Not Meet Minimum Order Quantity
The minimum order quantity for all markets and/or trading pairs is currently set to PHP 50. Please ensure that you place an order/trade of at least PHP 50 for this to push through. You may refer to our article on our minimum order quantities.
4. Trading Restrictions for Unsupported Countries
Please refer to this article for the list of countries that are currently unsupported for our services.
5. Trading with Oneself
You are not allowed to trade with yourself on a continuous order book. Your orders will be cancelled.
6. Cancellation of Order
- You may have manually cancelled your order.
- The remaining portion of any order, on a continuous order book that would move the market price by more than 3% in either direction.
- Limit order prices must be within 5% of the LTP, if it is outside of the 5% price collar, the limit order will be rejected by the trading engine
7. Coins System Maintenance
For concerns related to maintenance, system outages or downtimes, please refer to the following Status Page for live updates https://exchangestatus.coins.asia/
Implications of Order Rejections
Order Cancellation Fees
- No fees charged if order is cancelled before trade execution
- 0% filled orders do not incur additional costs
Frequently Asked Questions
How can I avoid having my trade orders rejected in the future?
Double-check all transaction details, and ensure sufficient funds are available. If you are unsure of the reason your order was cancelled or rejected, please reach out to us to Coins Support, and we will investigate this for you.