Why was my market order rejected in my cash account?

Overview:

Position liquidations within a cash account generally result from one of the following two situations:…

The currency conversion tool considers market orders when placing the order. Please note, when placing a Market order the order value cannot be known with certainty prior to execution as the market can move in any direction, at any moment. Because of this, an extra 5% is added to the order quantity at the credit check step for Market type orders to account for market movements. This 5% buffer is what is causing the difference in the trade value and the cash available in the account. Should you choose to convert currency using an Order Ticket, Limit orders do not require the 5% buffer…

A Cash account must have enough cash to cover the cost of a position plus commissions and can never hold a negative cash balance. When placing a Market order (or Stop order), the order value cannot be known with certainty prior to execution as the market can move in any direction at any moment. Because of this, an extra 5% is added to the order amount at the credit check step for Market type orders to account for market movements. If you receive an order rejection for not enough Settled Cash when you do in fact have the Settled Cash to execute your order at your desired price and quantity, try using a Limit order (or Stop Limit order for a Stop) or reduce the MKT order size…

Orders may be rejected due to insufficient funds for several reasons, even when you believe you have enough cash in your account. Here are the main factors to consider:

• Settled Funds and Cash Accounts:
  • For cash accounts, you must have enough settled cash to cover the transaction cost plus commissions…