Question about E-Trade and a foreign stock from Canada
I Am brand new to online trading. I like topurchase this Canadian stock on my e-trade account but I'm getting this error message that comes up. Please refer the picture. It's probably something I'm doing wrong on my end I would think but let me know yourinput. Thank you in advance
A market order is a request to buy a stock at whatever price is currently listed.
Because OTC stock are soo illiquid and prone to doubling or halving their worth overnight, many brokers don't allow for market orders.
The alternative is to create a limit order. A limit order says only buy the stock if it is above/below a certain price. Your broker is forcing you to define the maximum you are willing to pay for the stock to limit your risk.